iShares Morningstar Small-Cap Value ETF (ISCV) is an exchange-traded fund that seeks to track the investment results of an index composed of small-capitalization U.S. equities exhibiting value characteristics, specifically the Morningstar US Small Cap Broad Value Extended Index; it employs a representative sampling technique to invest in value stocks of small-cap companies across diversified sectors including financials, industrials, consumer discretionary, and real estate. The fund provides exposure to small-cap value stocks ranked in the 90-99.5% range of U.S. market capitalization based on Morningstar's value style categorization, with a low expense ratio of 0.06%, quarterly distributions, and no derivatives or ESG focus. Managed by BlackRock Fund Advisors under the iShares brand owned by BlackRock, Inc., ISCV was launched on June 28, 2004, and is domiciled in the United States with primary listing on NYSE Arca. The ETF targets institutional and retail investors seeking passive small-cap value exposure in the U.S. equity market, holding a diversified portfolio of approximately 200-300 small-cap value securities weighted by market capitalization. Geographically, operations focus exclusively on U.S. equities. In recent developments as of 2025, institutional holdings have expanded significantly with over 110 hedge funds and institutions investing around $298 million in Q2 2025, reflecting 24% growth in capital allocated and 138% more new positions opened than closed; additional investor activity includes Advisory Services Network LLC acquiring 45,910 shares valued at $2.87 million in Q2 2025, alongside stake increases by Kestra Advisory Services and Smartleaf Asset Management in Q1 2025.