At a glance
SVAL charges 0.2% a year, below the 0.33% average of the 5 funds most like it (the 2nd cheapest of 6). It has $198.4M in assets, the 4th largest of that group; it paid 2.13% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +30.9% with distributions reinvested (S&P 500: +11.5%), the best of those 6 funds; over three years it returned +22.5% a year. At its worst it fell 20.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 15 months after the low. Its ten largest positions make up 6.9% of the fund, out of 243 in all.
The short version
iShares US Small Cap Value Factor ETF (SVAL) is a BlackRock index fund. It holds about 240 cheaply priced small US companies drawn from the Russell 2000, and it gives each one roughly the same weight. Its screens remove the most volatile, most indebted and least-traded stocks. The 0.20% annual fee is below the 0.33% average of similar funds, but Vanguard Russell 2000 Value ETF charges 0.10%.
Price history
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SVAL +30.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| SVAL official prospectus, to Dec 31, 2025 | — | +8.25% | — | +9.41% | — | +14.03% |
| SVAL price data to Oct 27, 2026 | +27.4% | +30.9% | +22.5% | +9.5% | — | +9.7% |
- Over the year to Oct 27, 2026, SVAL returned +30.9%, 1st of 6 among similar funds.
- Its 5-year annualized return was +9.5%.
- Its worst full calendar year was 2022 (-10.1%); its best was 2023 (+12.3%).
- The deepest fall in its price history was 27.5% (Nov 25, 2024 to Apr 8, 2025), recovered by Jan 6, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +27.4% | — |
| 2025 | +8.2% | +8.25% |
| 2024 | +7.5% | +7.61% |
| 2023 | +12.3% | +12.32% |
| 2022 | -10.1% | -10.11% |
| 2021 | — | +33.32% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 15.8% over that stretch · deepest drop along the way 20.5%, back to its old high 14.8 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.5000 | |
| 2025 | $0.7900 | +33.9% |
| 2024 | $0.5900 | -15.7% |
| 2023 | $0.7000 | +18.6% |
| 2022 | $0.5900 |
What's inside
As of Jun 30, 2026, the fund held 243 securities; the ten largest made up 6.86% of assets. It also reported 7.11% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| PENGUIN SOLUTIONS, INC. | 0.96% | |
| OCEANFIRST FINANCIAL CORP. | 0.79% | |
| VISHAY INTERTECHNOLOGY, INC. | 0.71% | |
| MYERS INDUSTRIES, INC. | 0.66% | |
| Cracker Barrel Old Country Store, Inc. | 0.65% | |
| INSIGHT ENTERPRISES, INC. | 0.64% | |
| MAYVILLE ENGINEERING COMPANY, INC | 0.63% | |
| THE GEO GROUP, INC. | 0.61% | |
| AMN HEALTHCARE SERVICES, INC. | 0.61% | |
| Progyny Inc | 0.60% | |
| NWPX INFRASTRUCTURE, INC. | 0.59% | |
| CORECIVIC, INC. | 0.57% | |
| MAGNITE, INC. | 0.57% | |
| MOVADO GROUP, INC. | 0.55% | |
| MITEK SYSTEMS, INC. | 0.55% |
By country
United States 92.3%Marshall Islands 2.36%Bermuda 1.73%United Kingdom 0.74%Cayman Islands 0.65%By asset type
Stocks 99.04%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $1.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.98%, +1.81%, +5.11%.
How it works
SVAL tracks the Russell 2000 Focused Value Select Index from FTSE Russell. The index starts with the Russell 2000, a benchmark of small US companies, and removes three groups: the least-traded 20% (about 391 stocks), the 20% with the biggest price swings over the past 12 months, and the 20% with the most debt compared with their assets. It then drops companies whose earnings-per-share forecasts have had more analyst cuts than increases.
The remaining stocks are ranked on three measures of cheapness. These are price-to-book (share price compared with the company's net worth on its books), price-to-earnings and price-to-operating cash flow. The top 250 are equally weighted, so no single stock dominates. As of June 30, 2026, the 10 largest positions made up 6.86% of the fund. Each industry's weight must stay within 5% of its weight in the Russell 2000.
The index is reviewed monthly. It rebalances only if one of three things happens: an industry drifts more than 10% from the Russell 2000, the index's value score falls below 90% of its target, or fewer than 200 stocks remain. It had 238 stocks as of March 31, 2026. Portfolio turnover was still 125%, which adds trading costs. BlackRock holds a representative sample of the index rather than every stock. It may also use derivatives and lend out shares. The 7.11% cash position as of June 30, 2026, is likely collateral from that lending.
What it really costs
- SVAL charges 0.2% a year, versus an average of 0.33% for the similar funds below (2nd of 6, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $20 in the first year and $255 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| SVAL | $20 | $64 | $113 | $255 |
In a retirement portfolio
SVAL is a narrow tilt toward small, cheap stocks: its returns swung about 21% a year over three years, and it has had drops of more than 20%. That makes it a side position, not a foundation.
SVAL could add a tilt toward small, cheaply priced US companies. In the 2022 bear market, it fell 20.5% between January 14 and September 30, 2022. It recovered by December 26, 2023, about 15 months later. Its deepest drop was 27.5%, from November 25, 2024, to April 8, 2025, and it took 9 months to recover. Its worst calendar year was 2022, when it lost 10.1%. The fund launched in October 2020, so it has no record for 2008 or the 2020 crash. Anyone forced to sell during a slump could lock in losses. As of October 27, 2026, its trailing 12-month yield was 2.13%, paid quarterly. Under the SEC's standard example, the 0.20% fee costs $20 in the first year on a $10,000 investment. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting small-cap value exposure for 0.20% a year, below the 0.33% average of the similar funds compared here.
- People who like equal weighting: as of June 30, 2026, no single holding was above about 1% of the fund.
- Long-term holders who can ride out drops like the 27.5% fall from November 2024 to April 2025, which took 9 months to recover.
Look elsewhere if
- Investors focused mainly on cost: Vanguard Russell 2000 Value ETF (VTWV) charges 0.10%, half of SVAL's fee.
- Taxable-account holders wary of SVAL's 125% portfolio turnover, which adds trading costs and can lead to capital gains payouts.
- Those who want a long track record or a large fund: SVAL launched in 2020 and had about $198 million in assets as of June 30, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| SVAL this fund | — | 0.2% | $198.4M | +30.9% | +22.5% |
| FYT First Trust Small Cap Value AlphaDEX Fund | 27% | 0.72% | $194.5M | +27.4% | +18.4% |
| JPSE JPMorgan Diversified Return U.S. Small Cap … | 24% | 0.29% | $591.2M | +15.9% | +18.0% |
| AVUV Avantis U.S. Small Cap Value ETF | 21% | 0.25% | $31.17B | +28.4% | +19.2% |
| VTWV Vanguard Russell 2000 Value ETF | 20% | 0.1% | $1.45B | +20.6% | +22.0% |
| EBIT Harbor AlphaEdge Small Cap Earners ETF | 20% | 0.29% | $12.0M | +16.0% | — |
Questions investors ask
What are SVAL's top holdings?
As of June 30, 2026, SVAL's largest holdings were Penguin Solutions (0.96%), OceanFirst Financial (0.79%), Vishay Intertechnology (0.71%), Myers Industries (0.66%) and Cracker Barrel Old Country Store (0.65%). Because the index weights stocks equally, no single company dominates. The fund held 243 stocks, and the top 10 made up just 6.86% of assets. As of March 31, 2026, consumer goods and services, financials and industrials were its biggest areas.
What's the difference between SVAL and AVUV?
Both funds focus on small US value stocks, but their holdings overlap by only about 21%. SVAL charges 0.20% a year and Avantis U.S. Small Cap Value ETF (AVUV) charges 0.25%. AVUV is much larger, with about $31.2 billion in assets as of August 31, 2026. SVAL had about $198 million as of June 30, 2026. Over one year, SVAL returned 30.9% as of October 27, 2026, and AVUV returned 28.5% as of October 30, 2026.
Does SVAL pay dividends?
Yes. SVAL pays dividends four times a year. As of October 27, 2026, it had paid $0.92 per share over the previous 12 months, a trailing yield of 2.13%. The payments come from the dividends of the roughly 240 small companies it holds. That means the amount can rise or fall from one quarter to the next. The fund is built around cheap stock prices, not around dividends, so income is a side benefit rather than the goal.
What is SVAL's expense ratio?
SVAL's expense ratio is 0.20% a year, according to its prospectus filed July 27, 2026. In the SEC's standard example ($10,000 invested, 5% annual return), that comes to $20 after one year, $64 after three, $113 after five and $255 after ten. The average for similar funds is 0.33%. Vanguard Russell 2000 Value ETF charges 0.10%, while First Trust Small Cap Value AlphaDEX Fund charges 0.72%.
How has SVAL performed since launch?
Through December 31, 2025, SVAL returned 8.25% over one year, 9.41% a year over five years and 14.03% a year since its October 2020 launch, according to its prospectus. Calendar-year returns ranged from a 33.32% gain in 2021 to a 10.11% loss in 2022. Using price data, the fund gained 27.4% in 2026 through October 27. Over the year ending that date, it returned 30.9%. Past results don't predict the future.