Invesco China Technology ETF
ALTAR
Score™
4.1% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
31.2x P/Sales
ratio
2.8x
P/BV
ratio
3.6x Div.
yield
0.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco China Technology ETF is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of the AlphaShares China Technology Index. The ETF holds technology stocks of all cap sizes. Its investments are focused in communication and technology companies. The ETF weights the holdings using market capitalization methodology.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Guggenheim
Website guggenheiminvestments.com
Inception date Dec 08, 2009
Assets (mns) $940
Currency USD
Expense ratio 70 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 100
Wgt avg mkt cap (mns) $93,122
Large cap (>$10bn) 62.4%
Mid cap ($2-10bn) 29.2%
Small cap (<$2bn) 0.5%
Developed mkts 20.9%
Emerging mkts 79.1%

TOP TEN HOLDINGS
TENCENT HOLDINGS LTD 9.8 %
MEITUAN DIANPING 8.7 %
BAIDU INC - SPON ADR 8.3 %
SEMICONDUCTOR MANUFACTURING INTERN 6.4 %
SUNNY OPTICAL TECH 6.0 %
GDS HOLDINGS LTD. SPONSORED ADR CL 4.5 %
KINGDEE INTERNATIONAL SFTWR 4.3 %
AUTOHOME, INC. SPONSORED ADR CLASS 4.0 %
TENCENT MUSIC ENTERTAINMENT GROUP 3.7 %
YY INC-ADR 3.4 %
Total 59.1 %

TOP COUNTRY EXPOSURE
CHINA 98.1 %










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.
34.9% 56.6% 20.6% 12.6% 11.2%

Market Correlations
versus... Beta R-squared
S&P500 1.02 48%
MSCI EAFE 1.10 47%
MSCI Emg. Mkts. 0.98 59%

Technical Indicators
Recent close $67.62
30d moving avg. $69.85
Annualized volatility 25.6%
Short interest (ETF) 1.4%
Relative strength (RSI) 46

Liquidity measures
Avg. volume (thou.) 180
Turnover 1.3%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $3,287

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: CQQQ Expense: 70 bp ALTAR Score™: 4.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CQQQ
Ticker Fund
Name
Overlap1
vs CQQQ
(%)
Expense
ratio
(bp)
Savings
vs CQQQ
(bp)
ALTAR
Score™
(%)
ALTAR
vs CQQQ
(%)
CHIK Global X MSCI China Information Technology ETF 42.8 66 4 8.4 +4.3
KWEB KraneShares CSI China Internet ETF 32.4 76 -6 2.0 -2.1
CHIC Global X Nasdaq China Technology ETF 29.7 66 4 4.2 +0.1
CXSE WisdomTree China ex-State-Owned Enterprises Fund 24.5 32 38 6.1 +2.0
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 24.2 86 -16 2.3 -1.8
TTTN UP Fintech China-U.S. Internet Titans ETF 23.6 59 11 4.3 +0.2
FDNI First Trust Dow Jones International Internet ETF 21.7 65 5 2.2 -1.9
PGJ Invesco Golden Dragon China ETF 20.8 70 0 3.3 -0.8
CHIL Global X MSCI China Large-Cap 50 ETF 19.8 29 41 8.0 +3.9
FXI iShares China Large-Cap ETF 19.4 74 -4 14.0 +9.9
FLCH Franklin FTSE China ETF 19.0 19 51 8.6 +4.5
EEMO Invesco S&P Emerging Markets Momentum ETF 18.9 29 41 6.5 +2.5
GXC SPDR S&P China ETF 18.8 59 11 8.3 +4.3
MCHI iShares MSCI China ETF 18.6 59 11 8.1 +4.0
KALL KraneShares FTSE Emerging Markets Plus ETF 17.9 49 21 8.3 +4.2
SOCL Global X Social Media ETF 16.6 65 5 1.8 -2.3
BKF iShares MSCI BRIC ETF 16.3 69 1 7.7 +3.7
ECON Columbia Emerging Markets Consumer ETF 16.2 59 11 4.6 +0.6
AIA iShares Asia 50 ETF 15.5 50 20 8.2 +4.1
CN Xtrackers MSCI All China Equity ETF 14.7 50 20 8.4 +4.3
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 13.2 20 50 7.0 +2.9
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 13.0 32 38 6.0 +1.9
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 12.7 60 10 4.5 +0.4
GMF SPDR S&P Emerging Asia Pacific ETF 12.0 49 21 7.5 +3.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 11.6 95 -25 8.4 +4.3
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF 11.3 65 5 3.3 -0.8
PBEE Invesco PureBeta FTSE Emerging Markets ETF 10.7 15 55 8.9 +4.8
NUEM Nuveen ESG Emerging Markets Equity ETF 10.7 45 25 7.1 +3.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 10.6 68 2 7.2 +3.1
SCHE Schwab Emerging Markets Equity ETF 10.6 11 59 8.2 +4.1
BKEM BNY Mellon Emerging Markets Equity ETF 10.6 11 59 8.6 +4.5
FLAX Franklin FTSE Asia Ex Japan ETF 10.4 19 51 7.9 +3.8
PEK VanEck Vectors ChinaAMC CSI 300 ETF 10.3 60 10 7.2 +3.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 10.2 30 40 7.9 +3.9
ESGE iShares ESG MSCI EM ETF 10.0 25 45 8.8 +4.7
EEMA iShares MSCI Emerging Markets Asia ETF 9.9 50 20 7.8 +3.7
VWO Vanguard FTSE Emerging Markets ETF 9.5 10 60 8.2 +4.2
EEM iShares MSCI Emerging Markets ETF 9.5 68 2 7.6 +3.5
SPEM SPDR Portfolio Emerging Markets ETF 9.5 11 59 8.1 +4.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 9.5 36 34 7.7 +3.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 9.4 65 5 7.6 +3.5
OGIG O'Shares Global Internet Giants ETF 9.1 48 22 0.8 -3.3
ASHX Xtrackers MSCI China A Inclusion Equity ETF 9.0 60 10 6.9 +2.8
KBA KraneShares Bosera MSCI China A Share ETF 9.0 60 10 6.8 +2.8
GIGE SoFi Gig Economy ETF 8.9 59 11 -0.7 -4.8
CNYA iShares MSCI China A ETF 8.9 60 10 6.7 +2.7
IXP iShares Global Comm Services ETF 8.8 46 24 5.8 +1.7
DVEM WisdomTree Emerging Markets Dividend Fund 8.8 32 38 7.4 +3.4
IPOS Renaissance International IPO ETF 8.7 80 -10 4.7 +0.6
IEMG iShares Core MSCI Emerging Markets ETF 8.5 13 57 8.1 +4.0
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 8.5 65 5 7.2 +3.1
NERD Roundhill BITKRAFT Esports & Digital Entertainment ETF 8.3 25 45 1.9 -2.1
CHIQ Global X China Consumer ETF 8.3 65 5 7.4 +3.4
FNI First Trust Chindia ETF 8.1 60 10 2.6 -1.4
DINT Davis Select International ETF 7.9 68 2 6.1 +2.0
GBUY Goldman Sachs Motif New Age Consumer ETF 7.9 50 20 1.8 -2.3
ESPO VanEck Vectors Video Gaming & eSports ETF 7.8 55 15 2.6 -1.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 7.8 45 25 7.7 +3.7
WUGI Esoterica NextG Economy ETF 7.8 75 -5 1.6 -2.5
AIQ Global X Future Analytics Tech ETF 7.3 68 2 4.1 +0.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 6.8 40 30 7.4 +3.3
IRBO iShares Robotics & Artificial Intelligence ETF 6.5 47 23 2.8 -1.3
AVEM Avantis Emerging Markets Equity ETF 6.4 33 37 9.1 +5.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 6.2 32 38 9.2 +5.1
FCA First Trust China AlphaDEX Fund 6.1 80 -10 15.0 +11.0
JHEM John Hancock Multifactor Emerging Markets ETF 6.0 49 21 8.8 +4.7
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 6.0 65 5 4.7 +0.7
BICK First Trust BICK Index Fund 5.8 64 6 4.6 +0.6
PIE Invesco DWA Emerging Markets Momentum ETF 5.7 90 -20 5.0 +0.9
FDEM Fidelity Targeted Emerging Markets Factor ETF 5.5 45 25 8.8 +4.7
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 5.5 45 25 9.2 +5.1
EMMF WisdomTree Emerging Markets Multifactor Fund 5.3 48 22 9.7 +5.6
LOUP Innovator Loup Frontier Tech ETF 5.0 70 0 3.8 -0.2
VIGI Vanguard International Dividend Appreciation ETF 5.0 20 50 5.5 +1.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 4.8 59 11 11.4 +7.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 4.6 30 40 9.0 +4.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 4.6 49 21 8.1 +4.0
FPXI First Trust International Equity Opportunities ETF 4.5 70 0 3.3 -0.8
SRVR Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF 4.5 60 10 2.5 -1.5
IFLY ETFMG Drone Economy Strategy ETF 4.5 68 2 2.0 -2.1
THNQ ROBO Global Artificial Intelligence ETF 4.5 68 2 1.5 -2.5
MOTI VanEck Vectors Morningstar International Moat ETF 4.4 57 13 8.6 +4.5
GENY Principal Millennials Index ETF 4.4 45 25 4.1 +0.1
DWLD Davis Select Worldwide ETF 4.3 63 7 6.7 +2.6
XITK SPDR FactSet Innovative Technology ETF 4.3 45 25 0.5 -3.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 4.3 16 54 6.9 +2.8
GOAT VanEck Vectors Morningstar Global Wide Moat ETF 4.2 56 14 5.9 +1.8
JOYY Infusive Compounding Global Equities ETF 4.1 50 20 6.1 +2.0
CCON Direxion Connected Consumer ETF 4.0 45 25 1.4 -2.7
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 3.9 18 52 5.5 +1.4
RNEM Emerging Markets Equity Select ETF 3.7 75 -5 12.4 +8.3
AFTY Pacer CSOP FTSE China A50 ETF 3.7 70 0 9.5 +5.4
ISEM Invesco Strategic Emerging Markets ETF 3.6 35 35 11.1 +7.0
BUYZ Franklin Disruptive Commerce ETF 3.5 50 20 -0.2 -4.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 3.5 60 10 9.2 +5.1
BLCN Reality Shares Nasdaq NextGen Economy ETF 3.5 68 2 3.7 -0.4
VSGX Vanguard ESG International Stock ETF 3.4 17 53 7.1 +3.0
HERO Global X Video Games & Esports ETF 3.4 50 20 2.9 -1.2
XBUY Amplify International Online Retail ETF 3.2 69 1 -0.5 -4.6

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 China Technology 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 15.5 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 4.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.30 CATEGORY
AVERAGE
1.44
 
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.