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  • ETF
  • SIZ
    Pricing Data
    Change: $0.11 (-0.01%)
    Time: 11/18/19
    Previous Close: $17.63
  • Category
  • Long-Short
Last Updated:



Trading Data

Open: - Volume -
Day Lo - Day Hi -
  • 52 Week Lo: $16.89
  • 52 Week Hi: $19.76
  • AUM: $0.9 M
  • Shares: 0.1 M

Investment Themes

Historical Trading Data

  • 1 Month Avg. Volume: 1,114
  • 3 Month Avg. Volume: 658

Alternative ETFs in the Long-Short Category

Type Ticker Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest CSM 0.45% $793.5 M 20,379 24.81%
Largest (AUM) QAI 0.80% $827.1 M 60,788 6.89%
Most Liquid (Volume) BTAL 2.11% $122.0 M 104,386 5.29%
Top YTD Performer CSM 0.45% $793.5 M 20,379 24.81%

Analyst Report

This ETF is part of a suite of "market neutral" products offered by QuantShares, a unique lineup of funds that has the potential to appreciate (or lose value) in any type of market. Because SIZ maintains equal long and short dollar positions, its performance is independent of the overall U.S. stock market; rather, it depends on how certain sub-sets (or factors) of the U.S. equity market perform relative to one another. As such, these securities can be used in a number of different ways. Since it should exhibit very low correlations to both stock and bond markets (SIZ should have a beta of close to zero), some may see this ETF as a tool for smoothing out portfolio volatility--essentially a diversifying agent within traditional stock-and-bond portfolios. Others who believe the methodology has the potential to exploit market inefficiencies may see it as a means of generating alpha over both long and short time periods. Specifically, SIZ is designed to capture the spread return between large and small U.S.; the portfolio maintains short positions in U.S. equities with the greatest market capitalization and long positions in U.S. equities with the lowest market capitalizations. Given this objective, SIZ can be generally expected to struggle when small cap stocks beat their large cap counterparts. Since small caps tend to be more volatile than large cap stocks, SIZ may maintain a risk/return profile similar to BTAH, which goes long in high beta stocks and short low beta stocks. SIZ is essentially a bet on outperformance from small cap companies, but with far less volatility than a traditional long position in small cap stocks (such as an investment in any of the ETFs in the Small Cap Blend Equities ETFdb Category); returns will be limited to the differential between these two segments of the U.S. equity market, and should be expected to be close to zero over the long haul. This investment approach is certainly nothing new; investors have been implementing strategies designed to capture the spreads between stocks of different sizes for decades. But the availability of this strategy within the ETF wrapper is a new innovation; it gives investors an opportunity to access a technique that may be time consuming and quite expensive if implemented individually through a single ticker symbol that brings all the efficiencies of ETFs. There are a couple noteworthy aspects of SIZ (and all QuantShares ETFs for that matter). The underlying portfolios are sector neutral, which ensures that the fund isn't simply short in corners of the market that tend to have greater concentrations of large cap companies (such as energy and financials) and long those that generally include smaller stocks. Moreover, individual positions are equal weighted, which ensures that no one stock will dominate either the long or short positions in the portfolio. For investors who are seeking a low maintenance way to bet on strong relative performance from small cap stocks, SIZ could be an attractive option. Of course, there are a number of ways for investors to achieve similar exposure on their own; going long in small cap ETFs and short large cap products would be a generally similar strategy. The most significant drawback we see to this ETF is the relatively high expense ratio charged. Because the underlying portfolio is market neutral (it is comprised of equal long and short positions), it would be reasonable to expect that long-term performance, before fees, should be close to zero. After taking out 80 basis points or so in expenses, that makes it likely that SIZ will lose money over the long haul. SIZ's appeal lies in its low volatility and low maintenance access to a somewhat sophisticated investment strategy, not in its potential for impressive long-term performance.

Realtime Rating

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Realtime Rating Summary

The adjacent table gives investors an individual Realtime Rating for SIZ on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the Long-Short with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.

Compare to another ETF

View the Category Report

SIZ Overall Realtime Rating:

A+ Overall Rated ETF:

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity C n/a
Expenses C n/a

SIZ In-Depth Analysis

The following tables and charts contain in-depth metrics for this ETF and compare it to similar peer ETFs within its Category.

SIZ Holdings

Filings Data as of: Nov 18, 2019

Concentration Analysis

This section compares how balanced and deep this ETF is relative to the peer group Category.

Number of Holdings
Rank: 3 of 23
Category Low JPHF (1)
Category High RALS (928)
% Assets in Top 10
Rank: 23 of 23
Category Low FLAG (12.02%)
Category High SIZ (177.95%)
% Assets in Top 15
Rank: 1 of 23
Category Low FLAG (17.70%)
Category High SIZ (179.45%)
% Assets in Top 50
Rank: 1 of 23
Category Low CSM (36.68%)
Category High SIZ (189.18%)

SIZ Expenses & Fees

This section compares the cost efficiency of this ETF to peers in the same Category.

Expenses Ratio Analysis

ETF Average
ETF Wtd. Average
Category Average
Expense Ratio
Rank: 24 of 24
Category Low CSM (0.45%)
Category High SIZ (2.82%)

Commission Free Trading

This ETF is not currently available for commission free trading on any platforms.

Category Commission Free Trading

There are 4 other ETFs in the Long-Short Category that are also eligible for commission free trading:

SIZ ESG Themes and Scores

SIZ does not have an ESG score. There are no ESG themes that map to this ETF.

SIZ Performance

This section shows how this ETF has performed relative to its peer group Category.

1 Week Return
Rank: 21 of 23
Category Low CHEP (-1.75%)
Category High MOM (3.67%)
4 Week Return
Rank: 20 of 24
Category Low DYB (-3.74%)
Category High CSM (4.82%)
13 Week Return
Rank: 19 of 24
Category Low MOM (-11.11%)
Category High FLAG (12.26%)
26 Week Return
Rank: 23 of 24
Category Low CLIX (-8.01%)
Category High HTUS (10.21%)
Year to Date Return
Rank: 22 of 24
Category Low DYB (-16.02%)
Category High CSM (24.81%)
1 Year Return
Rank: 22 of 24
Category Low DYB (-18.86%)
Category High CSM (13.39%)
3 Year Return
Rank: 18 of 19
Category Low CHEP (-20.25%)
Category High CSM (43.95%)
5 Year Return
Rank: 13 of 13
Category Low SIZ (-28.66%)
Category High CSM (61.17%)

SIZ Fund Flows

This section compares the fund flows of this ETF to peers in the same Category.

1 Week Fund Flow
Rank: N/A
No Ranking Available
Category Low GDG (‑$1.2 M)
Category High FTLS ($2.1 M)
4 Week Fund Flow
Rank: N/A
No Ranking Available
Category Low CSM (‑$8.7 M)
Category High FTLS ($6.2 M)
13 Week Fund Flow
Rank: N/A
No Ranking Available
Category Low CSM (‑$23.3 M)
Category High BTAL ($39.7 M)
26 Week Fund Flow
Rank: 8 of 21
‑$0.9 M
Category Low QAI (‑$140.8 M)
Category High BTAL ($65.0 M)
Year to Date Fund Flow
Rank: 9 of 23
‑$0.9 M
Category Low QAI (‑$572.0 M)
Category High BTAL ($85.7 M)
1 Year Fund Flow
Rank: 10 of 23
‑$0.9 M
Category Low QAI (‑$349.4 M)
Category High BTAL ($96.7 M)
3 Year Fund Flow
Rank: 17 of 24
‑$0.9 M
Category Low QAI (‑$410.0 M)
Category High BTAL ($106.5 M)
5 Year Fund Flow
Rank: 18 of 24
$0.4 M
Category Low QAI (‑$130.2 M)
Category High FTLS ($208.9 M)

Brought to You by ETF Flows


The following charts can be customized to display historical performance in a number of different formats, including line charts, bar charts, and candlesticks. Time periods can be adjusted to increase or decrease the period shown, ranging from five minutes to several months.

The following chart also includes the option to compare the performance of SIZ relative to other ETFs and benchmarks or to include indicators such as Bollinger Bands, relative strength, and moving averages.

SIZ Valuation

This section shows how the P/E multiple of this ETF compares to the peer group Category.

P/E Ratio
Rank: 13 of 22
Category Low CHEP (12.14)
Category High MOM (26.66)

SIZ Dividend

This section shows how the dividend yield of this ETF compares to the peer group Category.

Dividend Date
Annual Dividend Rate
Annual Dividend Yield
Rank: N/A
No Ranking Available
Category Low PLCY (0.11%)
Category High HTUS (8.51%)

SIZ Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group Category.

5 Day Volatility
Rank: 13 of 24
Category Low QMN (4.74%)
Category High CSM (135.19%)
20 Day Volatility
Rank: 8 of 24
Category Low QMN (1.27%)
Category High MOM (23.04%)
50 Day Volatility
Rank: 14 of 24
Category Low QMN (1.70%)
Category High MOM (21.45%)
200 Day Volatility
Rank: 12 of 24
Category Low QMN (2.01%)
Category High MOM (20.56%)
Rank: 18 of 24
Category Low BTAL (-0.67)
Category High CLIX (1.1)
Standard Deviation
Rank: 15 of 24
Category Low GDG (0.23%)
Category High CLIX (3.77%)


  • 20 Day MA: $17.63
  • 60 Day MA: $17.47
  • MACD 15 Period: -0.13
  • MACD 100 Period: -0.04
  • Williams % Range 10 Day: 100.00
  • Williams % Range 20 Day: 87.32
  • RSI 10 Day: 40
  • RSI 20 Day: 48
  • RSI 30 Day: 48
  • Ultimate Oscillator: 25

Bollinger Brands

  • Lower Bollinger (10 Day): $17.52
  • Upper Bollinger (10 Day): $17.87
  • Lower Bollinger (20 Day): $17.40
  • Upper Bollinger (20 Day): $17.85
  • Lower Bollinger (30 Day): $17.23
  • Upper Bollinger (30 Day): $17.86

Support & Resistance

  • Support Level 1: $17.52
  • Support Level 2: $17.52
  • Resistance Level 1: $17.52
  • Resistance Level 2: $17.52


  • Stochastic Oscillator %D (1 Day): 50.00
  • Stochastic Oscillator %D (5 Day): 6.24
  • Stochastic Oscillator %K (1 Day): 50.00
  • Stochastic Oscillator %K (5 Day): 15.49

Fact Sheet

Fact sheets are issued by the ETF provider and framed by Information contained within the fact sheet is not guaranteed to be timely or accurate.

Source: LSEG Information Services (US), Inc. (“LSEG”) © LSEG 2016. All rights in the XTF data, ratings and / or underlying data contained in this communication (“the XTF information”) vest in LSEG and/or its licensors. Neither LSEG nor its licensors accept any liability arising out of the use of, reliance on or any errors or omissions in the XTF information. No further distribution of the XTF information is permitted without LSEG’s express written consent. LSEG does not promote, sponsor or endorse the content of this communication.

Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at
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