The Small Cap Value style ranks tenth out of the twelve fund styles as detailed in our 4Q22 Style Ratings for ETFs and Mutual Funds report. Last quarter, the Small Cap Value style ranked eleventh. The category receives our Unattractive rating, which is based on an aggregation of ratings of 18 ETFs and 146 mutual funds in the Small Cap Value style as of October 19, 2022. See a recap of our 3Q22 Style Ratings here.
Figures 1 and 2 show the five best and worst rated ETFs and mutual funds in the style. Not all Small Cap Value style ETFs and mutual funds are created the same. The number of holdings varies widely (from 27 to 1,613). This variation creates drastically different investment implications and, therefore, ratings.