Invesco BLDRS Emerging Markets 50 ADR Index Fund
ALTAR
Score™
5.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
18.5x P/Sales
ratio
1.5x
P/BV
ratio
2.2x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
BLDRS Emerging Markets 50 ADR Index Fund is a unit investment trust incorporated in the USA. The Fund seeks results that correspond to the price and yield performance of The Bank of New York Emerging Markets 50 ADR Index, which is a capitalization-weight index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Bank of New York
Website www.powershares.com
Inception date Nov 13, 2002
Assets (mns) $136
Currency USD
Expense ratio 18 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 50
Wgt avg mkt cap (mns) $269,806
Large cap (>$10bn) 95.4%
Mid cap ($2-10bn) 2.0%
Small cap (<$2bn) 0.0%
Developed mkts 8.1%
Emerging mkts 91.9%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR-SP ADR 22.0 %
ALIBABA GROUP HOLDING LTD. SPONSOR 20.9 %
HDFC BANK LTD-ADR 5.0 %
JD.COM INC-ADR 4.6 %
INFOSYS TECHNOLOGIES-SP ADR 3.5 %
CHINA MOBILE LIMITED SPONSORED ADR 2.6 %
NETEASE.COM INC-ADR 2.6 %
VALE SA-SP ADR 2.6 %
BAIDU INC - SPON ADR 2.4 %
PINDUODUO, INC. SPONSORED ADR CLAS 2.1 %
Total 68.4 %

TOP COUNTRY EXPOSURE
CHINA 43.1 %
TAIWAN 24.1 %
INDIA 11.3 %
BRAZIL 8.1 %
HONG KONG 3.8 %
SOUTH KOREA 3.3 %
SOUTH AFRICA 2.2 %
MEXICO 1.8 %
INDONESIA 0.6 %
CHILE 0.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
7.3% 25.8% 11.9% 3.7% 12.0%

Market Correlations
versus... Beta R-squared
S&P500 1.00 67%
MSCI EAFE 1.14 73%
MSCI Emg. Mkts. 1.01 90%

Technical Indicators
Recent close $46.95
30d moving avg. $46.66
Annualized volatility 21.5%
Short interest (ETF) 0.4%
Short interest (Underlying) 1.4%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.4%
Bid/Ask (% of price) 0.33%
ADV underlying (mns) $1,066

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco BLDRS Emerging Markets 50 ADR Index Fund ETF based on the alternatives' overlap in portfolio holdings with ADRE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ADRE Expense: 18 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ADRE
Ticker Fund
Name
Overlap1
vs ADRE
(%)
Expense
ratio
(bp)
Savings
vs ADRE
(bp)
ALTAR
Score™
(%)
ALTAR
vs ADRE
(%)
FNI First Trust Chindia ETF 41.2 60 -42 2.6 -2.9
PGJ Invesco Golden Dragon China ETF 30.3 70 -52 3.3 -2.1
CXSE WisdomTree China ex-State-Owned Enterprises Fund 29.2 32 -14 6.0 +0.6
MCHI iShares MSCI China ETF 29.0 59 -41 7.9 +2.5
FLCH Franklin FTSE China ETF 28.1 19 -1 8.4 +3.0
KWEB KraneShares CSI China Internet ETF 26.8 76 -58 2.0 -3.5
GXC SPDR S&P China ETF 25.0 59 -41 8.2 +2.7
CHIL Global X MSCI China Large-Cap 50 ETF 24.4 29 -11 7.9 +2.5
FDNI First Trust Dow Jones International Internet ETF 24.0 65 -47 2.2 -3.2
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 22.4 86 -68 2.3 -3.2
GMF SPDR S&P Emerging Asia Pacific ETF 21.7 49 -31 7.4 +1.9
BKF iShares MSCI BRIC ETF 20.6 69 -51 7.6 +2.1
KALL KraneShares FTSE Emerging Markets Plus ETF 20.5 49 -31 8.2 +2.7
ECON Columbia Emerging Markets Consumer ETF 20.1 59 -41 4.5 -0.9
TTTN UP Fintech China-U.S. Internet Titans ETF 20.1 59 -41 4.2 -1.2
CHIQ Global X China Consumer ETF 19.9 65 -47 7.4 +1.9
CN Xtrackers MSCI All China Equity ETF 19.3 50 -32 8.2 +2.7
BICK First Trust BICK Index Fund 18.8 64 -46 4.4 -1.0
AVEM Avantis Emerging Markets Equity ETF 18.8 33 -15 8.9 +3.4
PNQI Invesco NASDAQ Internet ETF 16.8 60 -42 1.1 -4.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 16.3 32 -14 5.9 +0.5
ISEM Invesco Strategic Emerging Markets ETF 16.3 35 -17 10.7 +5.2
DINT Davis Select International ETF 15.4 68 -50 5.9 +0.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 15.3 20 -2 6.8 +1.4
FRDM Freedom 100 Emerging Markets ETF 15.3 49 -31 6.7 +1.3
EBIZ Global X E-Commerce ETF 15.1 50 -32 2.8 -2.7
SMH VanEck Vectors Semiconductor ETF 14.9 35 -17 5.3 -0.1
EEMA iShares MSCI Emerging Markets Asia ETF 14.7 50 -32 7.6 +2.2
SPEM SPDR Portfolio Emerging Markets ETF 14.5 11 7 8.0 +2.5
PBEE Invesco PureBeta FTSE Emerging Markets ETF 14.3 15 3 8.7 +3.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 14.3 95 -77 8.0 +2.6
VWO Vanguard FTSE Emerging Markets ETF 14.1 10 8 8.1 +2.6
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 13.8 60 -42 4.4 -1.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 13.6 68 -50 7.1 +1.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 13.4 30 -12 7.8 +2.3
SCHE Schwab Emerging Markets Equity ETF 13.2 11 7 8.0 +2.5
GIGE SoFi Gig Economy ETF 13.1 59 -41 -0.7 -6.1
GBUY Goldman Sachs Motif New Age Consumer ETF 13.0 50 -32 1.8 -3.6
DWLD Davis Select Worldwide ETF 12.8 63 -45 6.6 +1.2
DVEM WisdomTree Emerging Markets Dividend Fund 12.7 32 -14 7.3 +1.9
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 12.6 36 -18 7.4 +1.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 12.6 65 -47 7.5 +2.1
FLAX Franklin FTSE Asia Ex Japan ETF 12.5 19 -1 7.7 +2.3
LEGR First Trust Index Digital Transaction & Process Technology E 12.3 65 -47 7.0 +1.6
EEM iShares MSCI Emerging Markets ETF 11.9 68 -50 7.4 +2.0
XNTK SPDR NYSE Technology ETF 11.7 35 -17 4.1 -1.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 11.4 49 -31 7.9 +2.4
ESGE iShares ESG MSCI EM ETF 11.2 25 -7 8.7 +3.2
OGIG O'Shares Global Internet Giants ETF 10.8 48 -30 0.8 -4.6
IEMG iShares Core MSCI Emerging Markets ETF 10.7 13 5 7.9 +2.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 10.7 45 -27 7.5 +2.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 10.4 40 -22 7.3 +1.9
BUYZ Franklin Disruptive Commerce ETF 10.1 50 -32 -0.1 -5.6
PEK VanEck Vectors ChinaAMC CSI 300 ETF 9.5 60 -42 7.2 +1.8
BLOK Amplify Transformational Data Sharing ETF 9.5 70 -52 4.4 -1.0
XCEM Columbia EM Core ex-China ETF 9.5 16 2 7.1 +1.7
NUEM Nuveen ESG Emerging Markets Equity ETF 9.3 45 -27 6.9 +1.5
EEMO Invesco S&P Emerging Markets Momentum ETF 9.2 29 -11 6.4 +0.9
EMMF WisdomTree Emerging Markets Multifactor Fund 9.1 48 -30 9.6 +4.2
BLCN Reality Shares Nasdaq NextGen Economy ETF 8.8 68 -50 3.7 -1.7
AADR AdvisorShares Dorsey Wright ADR ETF 8.7 110 -92 2.9 -2.6
JHEM John Hancock Multifactor Emerging Markets ETF 8.7 49 -31 8.6 +3.1
ILF iShares Latin America 40 ETF 8.5 48 -30 6.9 +1.4
TDIV First Trust NASDAQ Technology Dividend Index Fund 8.5 50 -32 6.9 +1.5
XBUY Amplify International Online Retail ETF 8.5 69 -51 -0.5 -5.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 8.2 45 -27 8.6 +3.1
ARKF ARK Fintech Innovation ETF 7.9 75 -57 0.7 -4.7
KOIN Innovation Shares NextGen Protocol ETF 7.8 95 -77 4.1 -1.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 7.5 30 -12 8.8 +3.4
GDAT Goldman Sachs Motif Data-Driven World Etf 7.3 50 -32 5.3 -0.2
GENY Principal Millennials Index ETF 7.1 45 -27 4.2 -1.3
ARKQ Ark Industrial Innovation ETF 7.1 75 -57 1.1 -4.4
CWI SPDR MSCI ACWI ex-US ETF 7.0 30 -12 7.1 +1.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 6.9 74 -56 13.2 +7.8
PID Invesco International Dividend Achievers ETF 6.9 53 -35 9.5 +4.0
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 6.5 45 -27 9.0 +3.5
CCON Direxion Connected Consumer ETF 6.3 45 -27 1.4 -4.0
CHIC Global X Nasdaq China Technology ETF 6.2 66 -48 4.1 -1.3
CQQQ Invesco China Technology ETF 6.2 70 -52 4.0 -1.5
SOXX iShares PHLX Semiconductor ETF 5.5 46 -28 5.2 -0.2
IBUY Amplify Online Retail ETF 5.5 65 -47 -1.2 -6.7
JOYY Infusive Compounding Global Equities ETF 5.5 50 -32 6.1 +0.7
FPXI First Trust International Equity Opportunities ETF 5.3 70 -52 3.3 -2.2
NXTG First Trust Indxx NextG ETF 5.1 70 -52 6.0 +0.5
SOCL Global X Social Media ETF 5.0 65 -47 1.9 -3.6
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 5.0 57 -39 5.4 -0.0
VEU Vanguard FTSE All-World ex-US Index Fund 5.0 8 10 7.5 +2.0
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 4.9 59 -41 4.3 -1.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 4.9 35 -17 4.5 -0.9
ROAM Hartford Multifactor Emerging Markets ETF 4.9 44 -26 13.1 +7.6
PXH Invesco FTSE RAFI Emerging Markets ETF 4.9 50 -32 13.6 +8.2
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 4.9 25 -7 7.9 +2.5
SKYY First Trust Cloud Computing ETF 4.8 60 -42 2.3 -3.2
THNQ ROBO Global Artificial Intelligence ETF 4.8 68 -50 1.6 -3.8
GDVD Principal Active Global Dividend Income ETF 4.7 58 -40 5.1 -0.3
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 4.7 16 2 6.8 +1.4
RTH VanEck Vectors Retail ETF 4.6 35 -17 5.0 -0.4
BKEM BNY Mellon Emerging Markets Equity ETF 4.6 11 7 8.4 +3.0
GVIP Goldman Sachs Hedge Industry VIP ETF 4.4 45 -27 4.0 -1.4

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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:
Invesco BLDRS Emerging Markets 50 ADR Index Fund
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.0 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.28 CATEGORY
AVERAGE
1.45
 
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.