Invesco BLDRS Emerging Markets 50 ADR Index Fund
ALTAR
Score™
6.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
16.5x P/Sales
ratio
1.3x
P/BV
ratio
1.7x Div.
yield
2.8%


  • 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) $108
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) $174,341
Large cap (>$10bn) 92.5%
Mid cap ($2-10bn) 4.6%
Small cap (<$2bn) 0.0%
Developed mkts 10.3%
Emerging mkts 89.7%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 19.5 %
TAIWAN SEMICONDUCTOR-SP ADR 18.5 %
HDFC BANK LTD-ADR 4.8 %
JD.COM INC-ADR 4.3 %
CHINA MOBILE LIMITED SPONSORED ADR 3.8 %
INFOSYS TECHNOLOGIES-SP ADR 3.3 %
VALE SA-SP ADR 2.8 %
BAIDU INC - SPON ADR 2.8 %
NETEASE.COM INC-ADR 2.5 %
PINDUODUO, INC. SPONSORED ADR CLAS 2.4 %
Total 64.9 %

TOP COUNTRY EXPOSURE
CHINA 42.4 %
TAIWAN 21.1 %
BRAZIL 10.2 %
INDIA 9.8 %
HONG KONG 5.6 %
SOUTH KOREA 4.0 %
MEXICO 3.3 %
SOUTH AFRICA 1.3 %
INDONESIA 1.0 %
CHILE 0.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-18.3% -11.6% 1.2% 0.2% 10.5%

Market Correlations
versus... Beta R-squared
S&P500 0.98 69%
MSCI EAFE 1.13 80%
MSCI Emg. Mkts. 0.97 92%

Technical Indicators
Recent close $36.53
30d moving avg. $35.65
Annualized volatility 19.7%
Short interest (ETF) 0.0%
Short interest (Underlying) 1.4%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.2%
Bid/Ask (% of price) 0.40%
ADV underlying (mns) $7,445

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 6.5%


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 39.3 59 -41 3.8 -2.7
PGJ Invesco Golden Dragon China ETF 29.6 70 -52 3.8 -2.8
CXSE WisdomTree China ex-State-Owned Enterprises Fund 28.4 32 -14 7.4 +0.9
FLCH Franklin FTSE China ETF 26.4 19 -1 9.7 +3.2
MCHI iShares MSCI China ETF 25.9 59 -41 9.6 +3.0
KWEB KraneShares CSI China Internet ETF 25.6 76 -58 3.8 -2.8
GXC SPDR S&P China ETF 22.5 59 -41 9.4 +2.9
FDNI First Trust Dow Jones International Internet ETF 21.4 65 -47 3.0 -3.6
CHIL Global X MSCI China Large-Cap 50 ETF 21.3 29 -11 10.0 +3.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 21.0 86 -68 2.5 -4.1
CHIQ Global X China Consumer ETF 19.8 65 -47 10.1 +3.6
BICK First Trust BICK Index Fund 19.7 64 -46 4.8 -1.7
ECON Columbia Emerging Markets Consumer ETF 19.2 59 -41 5.2 -1.4
GMF SPDR S&P Emerging Asia Pacific ETF 19.0 49 -31 8.5 +2.0
KALL KraneShares FTSE Emerging Markets Plus ETF 18.6 49 -31 9.6 +3.1
BKF iShares MSCI BRIC ETF 18.3 69 -51 9.0 +2.5
TTTN UP Fintech China-U.S. Internet Titans ETF 18.1 59 -41 5.2 -1.4
ISEM Invesco Strategic Emerging Markets ETF 18.0 35 -17 11.1 +4.6
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 18.0 80 -62 1.9 -4.6
CN Xtrackers MSCI All China Equity ETF 17.4 50 -32 9.9 +3.4
ONLN ProShares Online Retail ETF 15.9 58 -40 1.8 -4.7
AVEM Avantis Emerging Markets Equity ETF 15.5 33 -15 10.1 +3.6
WCHN WisdomTree ICBCCS S&P China 500 Fund 15.3 55 -37 9.3 +2.8
DINT Davis Select International ETF 14.9 75 -57 6.4 -0.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 14.9 32 -14 7.3 +0.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 14.4 20 -2 8.1 +1.5
PNQI Invesco NASDAQ Internet ETF 13.9 62 -44 1.3 -5.2
GIGE SoFi Gig Economy ETF 13.7 59 -41 -0.4 -7.0
SPEM SPDR Portfolio Emerging Markets ETF 13.3 11 7 9.1 +2.6
VWO Vanguard FTSE Emerging Markets ETF 12.6 10 8 9.4 +2.9
GBUY Goldman Sachs Motif New Age Consumer ETF 12.3 50 -32 2.3 -4.2
PBEE Invesco PureBeta FTSE Emerging Markets ETF 12.2 14 4 10.1 +3.5
EEMA iShares MSCI Emerging Markets Asia ETF 12.0 50 -32 9.0 +2.5
SCHE Schwab Emerging Markets Equity ETF 11.9 13 5 9.2 +2.7
DWLD Davis Select Worldwide ETF 11.8 64 -46 7.0 +0.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 11.7 30 -12 9.3 +2.7
EBIZ Global X E-Commerce ETF 11.7 50 -32 3.2 -3.4
FRDM Freedom 100 Emerging Markets ETF 11.6 49 -31 8.1 +1.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 11.4 68 -50 8.5 +2.0
FLAX Franklin FTSE Asia Ex Japan ETF 11.3 19 -1 9.1 +2.5
SMH VanEck Vectors Semiconductor ETF 11.0 35 -17 5.8 -0.7
ILF iShares Latin America 40 ETF 10.7 48 -30 7.9 +1.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 10.6 49 -31 9.6 +3.0
LEGR First Trust Index Digital Transaction & Process Technology E 10.4 65 -47 7.5 +1.0
XNTK SPDR Morgan Stanley Technology ETF 10.4 35 -17 4.1 -2.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 10.4 65 -47 8.9 +2.4
EEM iShares MSCI Emerging Markets ETF 10.0 68 -50 8.8 +2.3
DVEM WisdomTree Emerging Markets Dividend Fund 9.9 32 -14 9.6 +3.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 9.6 95 -77 10.9 +4.4
PEK VanEck Vectors ChinaAMC CSI 300 ETF 9.5 60 -42 8.6 +2.1
XCEM Columbia EM Core ex-China ETF 9.1 16 2 8.3 +1.8
OGIG O'Shares Global Internet Giants ETF 9.1 48 -30 0.6 -5.9
IEMG iShares Core MSCI Emerging Markets ETF 9.1 14 4 9.3 +2.7
BUYZ Franklin Disruptive Commerce ETF 9.0 50 -32 -0.1 -6.6
ESGE iShares ESG MSCI EM ETF 9.0 25 -7 10.3 +3.8
BLOK Amplify Transformational Data Sharing ETF 8.6 70 -52 5.6 -0.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 8.4 45 -27 9.1 +2.6
BLCN Reality Shares Nasdaq NextGen Economy ETF 8.3 68 -50 4.6 -1.9
ARKF ARK Fintech Innovation ETF 8.3 75 -57 1.1 -5.4
NUEM Nuveen ESG Emerging Markets Equity ETF 8.2 45 -27 8.2 +1.7
JOYY Infusive Compounding Global Equities ETF 8.1 50 -32 4.0 -2.5
JHEM John Hancock Multifactor Emerging Markets ETF 7.8 55 -37 9.5 +3.0
GENY Principal Millennials Index ETF 7.6 45 -27 4.4 -2.2
XBUY Amplify International Online Retail ETF 7.5 69 -51 -1.0 -7.5
EEMO Invesco S&P Emerging Markets Momentum ETF 7.5 30 -12 7.6 +1.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 7.3 70 -52 13.7 +7.2
AADR WCM/BNY Mellon Focused Growth ADR ETF 7.1 110 -92 3.6 -2.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 7.0 40 -22 8.1 +1.6
CHIC Global X Nasdaq China Technology ETF 6.5 65 -47 4.6 -1.9
EMCG WisdomTree Emerging Markets Consumer Growth Fund 6.3 32 -14 8.0 +1.5
FPXI First Trust International Equity Opportunities ETF 6.3 70 -52 3.0 -3.6
PID Invesco International Dividend Achievers ETF 6.1 54 -36 11.4 +4.9
CQQQ Invesco China Technology ETF 6.1 70 -52 4.6 -2.0
PLAT WisdomTree Modern Tech Platforms Fund 5.9 45 -27 1.4 -5.1
GDAT Goldman Sachs Motif Data-Driven World Etf 5.7 50 -32 5.4 -1.2
SOCL Global X Social Media ETF 5.6 65 -47 2.4 -4.2
CWI SPDR MSCI ACWI ex-US ETF 5.6 30 -12 8.1 +1.5
TDIV First Trust NASDAQ Technology Dividend Index Fund 5.6 50 -32 5.9 -0.6
IBUY Amplify Online Retail ETF 5.4 65 -47 -1.5 -8.0
KOIN Innovation Shares NextGen Protocol ETF 5.4 95 -77 4.5 -2.0
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 5.1 57 -39 5.2 -1.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 4.9 30 -12 9.8 +3.3
EMMF WisdomTree Emerging Markets Multifactor Fund 4.7 48 -30 10.4 +3.9
GVIP Goldman Sachs Hedge Industry VIP ETF 4.7 45 -27 4.6 -1.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 4.7 59 -41 11.8 +5.3
GDVD Principal Active Global Dividend Income ETF 4.6 58 -40 5.2 -1.3
GURU Global X Guru Index ETF 4.5 75 -57 3.7 -2.8
RTH VanEck Vectors Retail ETF 4.3 35 -17 5.1 -1.5
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 4.2 45 -27 10.4 +3.9
VRAI Virtus Real Asset Income ETF 4.2 55 -37 11.4 +4.9
VEU Vanguard FTSE All-World ex-US Index Fund 4.2 8 10 8.3 +1.8
FVL First Trust Value Line 100 Exchange-Traded Fund 4.1 70 -52 4.1 -2.5
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 4.0 60 -42 4.3 -2.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 4.0 35 -17 4.6 -1.9
PXH Invesco FTSE RAFI Emerging Markets ETF 4.0 50 -32 14.6 +8.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 3.9 16 2 7.5 +1.0
ARKQ Ark Industrial Innovation ETF 3.9 75 -57 0.8 -5.7
PIE Invesco DWA Emerging Markets Momentum ETF 3.9 90 -72 6.1 -0.5
AIQ Global X Future Analytics Tech ETF 3.9 68 -50 4.3 -2.2
DUSA Davis Select U.S. Equity ETF 3.8 63 -45 5.9 -0.6

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:
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 11.2 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 18 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.34 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.