Invesco S&P Global Water Index ETF
ALTAR
Score™
5.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.3x P/Sales
ratio
1.6x
P/BV
ratio
2.4x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Global Water ETF is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the performance of the S&P Global Water Index.

FUND BASICS
Category Global Equities
Fund Sponsor Guggenheim
Website guggenheiminvestments.com
Inception date May 14, 2007
Assets (mns) $566
Currency USD
Expense ratio 62 bp
Distributions Annually

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) $13,954
Large cap (>$10bn) 40.7%
Mid cap ($2-10bn) 50.2%
Small cap (<$2bn) 9.1%
Developed mkts 97.3%
Emerging mkts 2.7%

TOP TEN HOLDINGS
AMERICAN WATER WORKS CO INC 10.6 %
XYLEM INC 6.7 %
DANAHER CORP 5.6 %
GEBERIT AG-REG 5.3 %
HALMA PLC 5.2 %
IDEX CORP 5.0 %
VEOLIA ENVIRONNEMENT 4.7 %
AQUA AMERICA INC 4.6 %
UNITED UTILITIES GROUP PLC 4.0 %
SEVERN TRENT PLC 3.5 %
Total 55.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 46.7 %
BRITAIN 18.4 %
FRANCE 7.0 %
SWITZERLAND 6.9 %
HONG KONG 4.4 %
CANADA 3.4 %
SWEDEN 3.0 %
ITALY 1.8 %
JAPAN 1.8 %
SOUTH KOREA 1.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-19.4% -5.0% 5.1% 8.0% 4.4%

Market Correlations
versus... Beta R-squared
S&P500 0.89 80%
MSCI EAFE 0.92 83%
MSCI Emg. Mkts. 0.70 71%

Technical Indicators
Recent close $33.16
30d moving avg. $36.68
Annualized volatility 15.1%
Short interest (ETF) 0.3%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 189
Turnover 1.1%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $3,416

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco S&P Global Water Index ETF ETF based on the alternatives' overlap in portfolio holdings with CGW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CGW Expense: 62 bp ALTAR Score™: 5.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CGW
Ticker Fund
Name
Overlap1
vs CGW
(%)
Expense
ratio
(bp)
Savings
vs CGW
(bp)
ALTAR
Score™
(%)
ALTAR
vs CGW
(%)
TBLU Tortoise Water Fund 62.8 40 22 6.1 +1.1
PIO Invesco Global Water ETF 54.4 75 -13 5.0 +0.0
PHO Invesco Water Resources ETF 44.2 60 2 4.7 -0.2
FIW First Trust Water ETF 38.6 55 7 4.9 -0.1
FTRI First Trust Indxx Global Natural Resources Income ETF 14.4 70 -8 13.7 +8.8
XKII SPDR Kensho Intelligent Structures ETF 11.5 45 17 8.4 +3.4
PUI Invesco DWA Utilities Momentum ETF 11.3 60 2 5.0 +0.0
IFRA iShares U.S. Infrastructure ETF 7.4 40 22 7.3 +2.4
SMDV ProShares Russell 2000 Dividend Growers ETF 6.9 40 22 7.9 +3.0
PRN Invesco DWA Industrials Momentum ETF 6.1 60 2 14.5 +9.6
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 5.8 38 24 12.5 +7.5
KSCD KFA Small Cap Quality Dividend Index ETF 5.7 51 11 7.0 +2.1
IHI iShares U.S. Medical Devices ETF 5.6 43 19 4.3 -0.7
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 5.5 46 16 6.5 +1.5
EMIF iShares Emerging Markets Infrastructure ETF 5.4 75 -13 9.6 +4.6
PAVE Global X U.S. Infrastructure Development ETF 5.3 47 15 7.9 +2.9
GLIF AGFiQ Global Infrastructure ETF 4.7 45 17 5.9 +1.0
UTES Virtus Reaves Utilities ETF 4.7 49 13 5.2 +0.2
GRES IQ Global Resources ETF 4.7 77 -15 9.1 +4.1
PZD Invesco Cleantech ETF 4.7 68 -6 6.2 +1.2
VPU Vanguard Utilities Index Fund 4.6 10 52 6.0 +1.1
GUNR Flexshares Morningstar Global Upstream Natural Resources 4.5 46 16 8.1 +3.2
RGI Invesco S&P 500 Equal Weight Industrials ETF 4.5 40 22 7.9 +2.9
FUTY Fidelity MSCI Utilities Index ETF 4.4 8 54 6.1 +1.1
TMDV ProShares Russell US Dividend Growers ETF 4.4 35 27 6.4 +1.4
CWS AdvisorShares Focused Equity ETF 4.4 85 -23 6.6 +1.7
ECLN First Trust EIP Carbon Impact ETF 4.4 95 -33 4.3 -0.7
ETHO Etho Climate Leadership U.S. ETF 4.3 47 15 6.4 +1.5
JXI iShares Global Utilities ETF 4.2 46 16 6.4 +1.4
RYU Invesco S&P 500 Equal Weight Utilities ETF 4.2 40 22 6.3 +1.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 4.1 47 15 7.7 +2.7
CHIU Global X MSCI China Utilities ETF 4.1 65 -3 9.9 +4.9
BIBL Inspire ETF 4.1 35 27 6.0 +1.1
JHMU John Hancock Multifactor Utilities ETF 4.1 40 22 6.4 +1.4
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 3.9 60 2 12.2 +7.3
VSL Volshares Large Capital ETF 3.8 65 -3 8.3 +3.3
FEUZ First Trust Eurozone AlphaDEX ETF 3.8 80 -18 9.7 +4.8
YLCO Global X YieldCo Index ETF 3.8 65 -3 5.2 +0.2
SDG iShares Sustainable MSCI Global Impact ETF 3.7 49 13 7.4 +2.4
GARD Reality Shares DIVCON Dividend Guard ETF 3.6 129 -67 4.7 -0.3
IDU iShares U.S. Utilities ETF 3.6 43 19 5.8 +0.9
SLYG SPDR S&P 600 Small Cap Growth ETF 3.6 15 47 7.1 +2.1
VIOG Vanguard S&P Small-Cap 600 Growth ETF 3.5 16 46 7.1 +2.1
IJT iShares S&P Small-Cap 600 Growth ETF 3.5 25 37 7.0 +2.1
LEAD Reality Shares DIVCON Leaders Dividend ETF 3.5 43 19 5.5 +0.6
IEHS iShares Evolved U.S. Healthcare Staples ETF 3.5 18 44 6.7 +1.7
XSLV Invesco S&P SmallCap Low Volatility ETF 3.5 25 37 10.8 +5.9
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 3.4 35 27 8.6 +3.6
NUMG Nuveen ESG Mid-Cap Growth ETF 3.3 40 22 4.4 -0.5
XSHQ Invesco S&P SmallCap Quality ETF 3.3 29 33 7.6 +2.7
PSCI Invesco S&P SmallCap Industrials ETF 3.2 29 33 9.2 +4.2
RNSC Small Cap US Equity Select ETF 3.2 60 2 9.0 +4.0
DES WisdomTree U.S. SmallCap Dividend Fund 3.1 38 24 12.0 +7.1
SMEZ SPDR EURO STOXX Small Cap ETF 3.1 45 17 6.9 +2.0
SCID Global X Scientific Beta Europe ETF 3.0 38 24 8.6 +3.6
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 3.0 39 23 8.2 +3.2
PDP Invesco DWA Momentum ETF 3.0 62 0 4.3 -0.7
ALFA AlphaClone Alternative Alpha ETF 3.0 65 -3 5.4 +0.4
SDY SPDR S&P Dividend ETF 3.0 35 27 7.9 +3.0
FKU First Trust United Kingdom AlphaDEX Fund 2.9 80 -18 12.7 +7.7
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 2.9 24 38 8.9 +4.0
PIZ Invesco DWA Developed Markets Momentum ETF 2.9 80 -18 6.0 +1.0
DFND Reality Shares DIVCON Dividend Defender ETF 2.8 121 -59 4.8 -0.2
XLU Utilities Select Sector SPDR Fund 2.8 13 49 6.1 +1.2
PXSG Invesco S&P SmallCap Momentum ETF 2.8 39 23 6.9 +2.0
PSCU Invesco S&P SmallCap Utilities ETF 2.8 29 33 3.3 -1.7
DIM WisdomTree International MidCap Dividend Fund 2.8 58 4 9.9 +4.9
FEP First Trust Europe AlphaDEX Fund 2.8 80 -18 10.6 +5.6
AUSF Global X Adaptive U.S. Factor ETF 2.8 27 35 10.0 +5.0
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 2.7 58 4 10.3 +5.3
FYC First Trust Small Cap Growth AlphaDEX Fund 2.7 70 -8 3.5 -1.5
XLV Health Care Select Sector SPDR Fund 2.7 13 49 8.0 +3.0
VBR Vanguard Small Cap Value Index Fund 2.7 7 55 11.4 +6.4
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 2.7 60 2 6.0 +1.0
JPEU JPMorgan Diversified Return Europe Equity ETF 2.6 37 25 8.5 +3.5
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 2.6 12 50 9.8 +4.9
EDIV SPDR S&P Emerging Markets Dividend ETF 2.6 49 13 13.4 +8.4
EVX VanEck Vectors Environmental Services ETF 2.6 56 6 6.8 +1.9
PID Invesco International Dividend Achievers ETF 2.5 54 8 9.6 +4.6
VTWG Vanguard Russell 2000 Growth Index Fund 2.5 15 47 1.7 -3.3
IWO iShares Russell 2000 Growth ETF 2.5 24 38 1.5 -3.5
DIET Defiance Next Gen Food & Agriculture ETF 2.5 30 32 6.2 +1.2
IYH iShares U.S. Healthcare ETF 2.5 43 19 7.0 +2.1
PSC Principal U.S. Small Cap Index ETF 2.5 38 24 10.3 +5.4
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 2.4 29 33 0.0 -5.0
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 2.4 99 -37 4.5 -0.5
SLY SPDR S&P 600 Small Cap ETF 2.4 15 47 8.9 +4.0
IJR iShares Core S&P Small Cap ETF 2.4 7 55 9.0 +4.1
SPSM SPDR Portfolio Small Cap ETF 2.4 5 57 9.0 +4.1
MTUM iShares Edge MSCI USA Momentum Factor ETF 2.4 15 47 5.5 +0.6
VIOO Vanguard S&P Small-Cap 600 ETF 2.4 10 52 9.0 +4.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 2.4 50 12 7.9 +2.9
DEF Invesco Defensive Equity ETF 2.4 55 7 6.2 +1.3
OSCV Opus Small Cap Value Plus ETF 2.3 79 -17 7.5 +2.5
VHT Vanguard Health Care Index Fund 2.3 10 52 6.4 +1.5
SPMO Invesco S&P 500 Momentum ETF 2.3 13 49 5.2 +0.2
FHLC Fidelity MSCI Health Care Index ETF 2.2 8 54 6.5 +1.5
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 2.2 49 13 7.3 +2.3
JKJ iShares Morningstar Small-Cap ETF 2.2 25 37 8.6 +3.6
VFMO Vanguard U.S. Momentum Factor ETF 2.2 13 49 4.5 -0.5

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 S&P Global Water Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.1 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 62 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 CATEGORY
AVERAGE
1.50
 
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.