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Supplementary Information The online version contains supplementary material available at https:// doi. org/ 10. 1007/ s11192- 021- 04195-4. ; Although this phrase is usually written in the articles as a courtesy, in our case we sincerely thank two anonymous reviewers for the interest and time they have dedicated to studying our work, since their suggestions have contributed decisively to improve its final version. ; Funding for open access charge: Universidad de Granada / CBUA. This research was funded in part by project PID2020-113961GB-I00 of the Spanish Ministry of Science and Innovation, project A-FQM-66-UGR20 of Vicerectorate for Research and Transfer of the University of Granada (also supported by the FEDER program), and project FQM-307 of the Government of Andalusia (Spain). ; This work applies a factor analysis with VARIMAX rotation to develop a bibliometric indicator, named the Weighted Factor Index, in order to derive a new classification for journals belonging to a certain category, alternative to the one provided by the Journal Impact Factor. For this, 16 metrics from three different databases (Web of Science, Scopus and SCImago Journal Rank) are considered. The Weighed Factor Index entails the advantage of incorporating and summarizing information from all the indicators; so as to test its performance, it was applied to rank journals belonging to the category Information Science & Library Science. ; Universidad de Granada/CBUA ; Project PID2020-113961GB-I00 of the Spanish Ministry of Science and Innovation ; Project A-FQM-66-UGR20 of Vicerectorate for Research and Transfer of the University of Granada (also supported by the FEDER program) ; FQM-307 of the Government of Andalusia (Spain)