ALPS Clean Energy ETF
ALTAR
Score™
0.9% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
66.5x P/Sales
ratio
2.6x
P/BV
ratio
3.0x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ACES tracks an index of US- and Canada-listed companies in the clean energy industry.

FUND BASICS
Category US Equities
Fund Sponsor ALPS
Website www.alpsfunds.com
Inception date Jun 27, 2018
Assets (mns) $225
Currency USD
Expense ratio 65 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 32
Wgt avg mkt cap (mns) $14,794
Large cap (>$10bn) 6.1%
Mid cap ($2-10bn) 64.7%
Small cap (<$2bn) 29.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TESLA MOTORS INC 7.9 %
BALLARD POWER SYSTEMS INC 6.0 %
PLUG POWER INC 5.5 %
FIRST SOLAR INC 5.1 %
CREE INC 4.8 %
NEXTERA ENERGY PARTNERS LP 4.7 %
NORTHLAND POWER INC 4.6 %
ENPHASE ENERGY INC 4.6 %
BROOKFIELD RENEWABLE PARTNERS LP 4.6 %
SUNRUN INC. 4.4 %
Total 52.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 74.6 %
CANADA 20.1 %
BERMUDA 4.6 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
16.8% 34.3% -- -- 26.5%

Market Correlations
versus... Beta R-squared
S&P500 1.19 76%
MSCI EAFE 1.23 69%
MSCI Emg. Mkts. 1.01 68%

Technical Indicators
Recent close $42.14
30d moving avg. $39.02
Annualized volatility 27.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 34
Turnover 0.6%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $13,974

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the ALPS Clean Energy ETF ETF based on the alternatives' overlap in portfolio holdings with ACES. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ACES Expense: 65 bp ALTAR Score™: 0.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ACES
Ticker Fund
Name
Overlap1
vs ACES
(%)
Expense
ratio
(bp)
Savings
vs ACES
(bp)
ALTAR
Score™
(%)
ALTAR
vs ACES
(%)
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 50.9 60 5 0.3 -0.6
GEX VanEck Vectors Global Alternative Energy ETF 39.7 62 3 4.3 +3.4
ICLN iShares Global Clean Energy ETF 35.8 46 19 3.1 +2.2
XKCP SPDR Kensho Clean Power ETF 32.0 45 20 0.3 -0.6
PBW Invesco WilderHill Clean Energy ETF 31.2 70 -5 -4.0 -4.9
TAN Invesco Solar ETF 23.7 71 -6 1.6 +0.7
PBD Invesco Global Clean Energy ETF 22.5 75 -10 1.6 +0.8
YLCO Global X YieldCo Index ETF 21.7 65 0 4.6 +3.8
PZD Invesco Cleantech ETF 14.4 68 -3 4.7 +3.8
FAN First Trust Global Wind Energy ETF 13.7 62 3 6.0 +5.1
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 11.3 70 -5 4.2 +3.3
DRIV Global X Autonomous & Electric Vehicles ETF 11.2 68 -3 5.4 +4.5
XSD SPDR S&P Semiconductor ETF 10.5 35 30 4.0 +3.1
XKST SPDR Kensho Smart Mobility ETF 10.1 45 20 5.3 +4.4
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 8.1 50 15 3.9 +3.0
CARZ First Trust NASDAQ Global Auto Index Fund 7.9 70 -5 14.2 +13.3
FTXR First Trust Nasdaq Transportation ETF 7.9 60 5 6.3 +5.4
IYK iShares U.S. Consumer Goods ETF 7.9 42 23 5.1 +4.3
SFYF SoFi 50 ETF 7.9 29 36 5.1 +4.2
XNTK SPDR NYSE Technology ETF 7.9 35 30 3.6 +2.7
IQM Franklin Intelligent Machines ETF 7.9 50 15 2.0 +1.2
FDG American Century Focused Dynamic Growth ETF 7.9 45 20 1.7 +0.9
ARKQ Ark Industrial Innovation ETF 7.9 75 -10 0.6 -0.2
ARKW ARK Web x.0 ETF 7.9 76 -11 -0.8 -1.7
ARKK ARK Innovation ETF 7.9 75 -10 -2.8 -3.7
LOUP Innovator Loup Frontier Tech ETF 7.8 70 -5 3.9 +3.0
FXN First Trust Energy AlphaDEX Fund 7.6 65 0 -0.8 -1.7
IDRV iShares Self-driving EV & Tech ETF 6.8 47 18 6.9 +6.1
ECLN First Trust EIP Carbon Impact ETF 6.7 96 -31 3.8 +2.9
LIT Global X Lithium & Battery Tech ETF 6.6 75 -10 2.8 +2.0
EKAR Innovation Shares NextGen Vehicles & Technology ETF 6.4 95 -30 8.0 +7.2
SDG iShares Sustainable MSCI Global Impact ETF 6.3 49 16 5.6 +4.7
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 6.2 75 -10 2.0 +1.2
KOMP SPDR Kensho New Economies Composite ETF 6.2 20 45 2.6 +1.7
WOMN Impact Shares YWCA Women's Empowerment ETF 6.1 75 -10 4.5 +3.6
FDIS Fidelity MSCI Consumer Discretionary Index ETF 6.0 8 57 3.4 +2.6
SIMS SPDR S&P Kensho Intelligent Structures ETF 5.7 45 20 6.0 +5.1
ZMLP Direxion Zacks MLP High Income Shares 5.6 81 -16 4.6 +3.7
PEZ Invesco DWA Consumer Cyclicals Momentum ETF 5.3 60 5 2.9 +2.0
VXF Vanguard Extended Market Index Fund 5.3 7 58 3.8 +3.0
QMOM Alpha Architect U.S. Quantitative Momentum ETF 5.1 49 16 2.2 +1.3
MTUM iShares Edge MSCI USA Momentum Factor ETF 4.9 15 50 4.1 +3.2
MOTO SmartETFs Smart Transportation & Technology ETF 4.9 68 -3 7.4 +6.5
PLCY EventShares U.S. Legislative Opportunities ETF 4.9 75 -10 3.8 +2.9
VCR Vanguard Consumer Discretionary Index Fund 4.8 10 55 3.9 +3.1
EMLP First Trust North American Energy Infrastructure Fund 4.7 96 -31 5.9 +5.0
DIV Global X SuperDividend US ETF 4.7 46 19 7.2 +6.4
UTES Virtus Reaves Utilities ETF 4.7 49 16 4.7 +3.8
FMK First Trust Mega Cap AlphaDEX Fund 4.6 70 -5 5.2 +4.3
NUSC Nuveen ESG Small-Cap ETF 4.4 40 25 5.5 +4.7
SDGA Impact Shares Sustainable Development Goals Global ETF 4.3 75 -10 5.4 +4.5
FPX First Trust US IPO Index Fund 4.3 58 7 2.6 +1.8
ETHO Etho Climate Leadership U.S. ETF 4.2 47 18 4.4 +3.5
AUSF Global X Adaptive U.S. Factor ETF 3.9 27 38 8.0 +7.1
MORT VanEck Vectors Mortgage REIT Income ETF 3.9 42 23 19.4 +18.5
REM iShares Mortgage Real Estate ETF 3.9 48 17 18.5 +17.6
JKE iShares Morningstar Large-Cap Growth ETF 3.7 25 40 2.8 +2.0
PRN Invesco DWA Industrials Momentum ETF 3.7 60 5 5.0 +4.1
OSCV Opus Small Cap Value Plus ETF 3.6 79 -14 5.7 +4.8
ECOZ TrueMark ESG Active Opportunities ETF 3.6 58 7 4.2 +3.3
GVIP Goldman Sachs Hedge Industry VIP ETF 3.4 45 20 4.7 +3.8
NACP Impact Shares NAACP Minority Empowerment ETF 3.3 75 -10 4.5 +3.6
FDM First Trust Dow Jones Select Microcap Index Fund 3.2 60 5 7.6 +6.8
ENTR Entrepreneur 30 Fund 3.1 49 16 2.5 +1.6
DTEC ALPS Disruptive Technologies ETF 3.0 50 15 3.6 +2.7
JHMC John Hancock Multifactor Consumer Discretionary ETF 3.0 40 25 4.3 +3.5
PHO Invesco Water Resources ETF 2.8 60 5 3.7 +2.8
FYC First Trust Small Cap Growth AlphaDEX Fund 2.8 70 -5 2.6 +1.7
QYLD Global X NASDAQ 100 Covered Call ETF 2.8 60 5 3.5 +2.6
NUSI Nationwide Risk-Managed Income ETF 2.8 68 -3 3.5 +2.6
NULG Nuveen ESG Large-Cap Growth ETF 2.7 35 30 3.6 +2.7
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 2.7 30 35 5.8 +4.9
QQQ Invesco QQQ Trust 2.6 20 45 3.8 +2.9
VFMO Vanguard U.S. Momentum Factor ETF 2.6 13 52 1.2 +0.3
PSCT Invesco S&P SmallCap Information Technology ETF 2.6 29 36 5.7 +4.9
FIW First Trust Water ETF 2.6 55 10 3.9 +3.0
JKJ iShares Morningstar Small-Cap ETF 2.6 25 40 6.9 +6.0
DWAS Invesco DWA SmallCap Momentum ETF 2.6 60 5 -1.1 -1.9
ITEQ BlueStar Israel Technology ETF 2.5 75 -10 1.8 +0.9
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 2.5 60 5 3.7 +2.8
HLAL Wahed FTSE USA Shariah ETF 2.5 50 15 4.6 +3.8
RYJ Invesco Raymond James SB-1 Equity ETF 2.5 82 -17 3.7 +2.8
XT iShares Exponential Technologies ETF 2.5 47 18 5.1 +4.2
CLRG IQ Chaikin U.S. Large Cap ETF 2.4 25 40 6.1 +5.2
MDYV SPDR S&P 400 Mid Cap Value ETF 2.3 15 50 8.9 +8.0
IJJ iShares S&P Mid-Cap 400 Value ETF 2.3 25 40 8.8 +7.9
IVOV Vanguard S&P Mid-Cap 400 Value ETF 2.3 15 50 8.8 +7.9
QVAL Alpha Architect U.S. Quantitative Value ETF 2.3 49 16 12.6 +11.7
NULC Nuveen ESG Large-Cap ETF 2.3 20 45 5.0 +4.1
SLT Salt TruBeta High Exposure ETF 2.3 29 36 9.6 +8.8
PUI Invesco DWA Utilities Momentum ETF 2.3 60 5 4.8 +3.9
PXSG Invesco S&P SmallCap Momentum ETF 2.2 39 26 5.1 +4.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 2.2 29 36 5.8 +4.9
FDMO Fidelity Momentum Factor ETF 2.2 29 36 3.8 +2.9
SNSR Global X Internet of Things Thematic ETF 2.1 68 -3 4.5 +3.6
FID First Trust S&P International Dividend Aristocrats ETF 2.1 60 5 9.9 +9.0
JMOM JPMorgan U.S. Momentum Factor ETF 2.1 12 53 3.9 +3.0
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 2.1 21 44 2.9 +2.0
PSCI Invesco S&P SmallCap Industrials ETF 2.0 29 36 6.7 +5.8

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
ALPS Clean Energy ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 4.5 %
Divided by: Fwd. P/BV 2.9 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 0.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.52
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.