Invesco China Technology ETF
ALTAR
Score™
4.3% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
29.9x P/Sales
ratio
2.6x
P/BV
ratio
3.2x 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) $709
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 92
Wgt avg mkt cap (mns) $79,886
Large cap (>$10bn) 56.5%
Mid cap ($2-10bn) 41.0%
Small cap (<$2bn) 1.0%
Developed mkts 24.0%
Emerging mkts 76.0%

TOP TEN HOLDINGS
MEITUAN DIANPING 13.8 %
TENCENT HOLDINGS LTD 10.5 %
BAIDU INC - SPON ADR 7.9 %
NETEASE.COM INC-ADR 7.8 %
SUNNY OPTICAL TECH 4.8 %
KINGDEE INTERNATIONAL SFTWR 3.8 %
AUTOHOME, INC. SPONSORED ADR CLASS 3.8 %
58.COM INC. SPONSORED ADR CLASS A 3.5 %
YY INC-ADR 3.2 %
GDS HOLDINGS LTD. SPONSORED ADR CL 3.0 %
Total 62.1 %

TOP COUNTRY EXPOSURE
CHINA 95.4 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
3.5% 28.8% 6.1% 9.5% 8.7%

Market Correlations
versus... Beta R-squared
S&P500 1.02 50%
MSCI EAFE 1.07 48%
MSCI Emg. Mkts. 0.95 57%

Technical Indicators
Recent close $57.68
30d moving avg. $53.53
Annualized volatility 24.4%
Short interest (ETF) 0.7%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 213
Turnover 1.7%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $8,409

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 4.3%


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
(%)
KWEB KraneShares CSI China Internet ETF 43.4 76 -6 3.4 -0.9
CHIC Global X Nasdaq China Technology ETF 41.0 65 5 4.4 +0.1
CHIK Global X MSCI China Information Technology ETF 29.0 65 5 11.0 +6.7
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 28.1 86 -16 2.3 -2.0
PGJ Invesco Golden Dragon China ETF 27.1 70 0 3.4 -0.9
TTTN UP Fintech China-U.S. Internet Titans ETF 26.9 59 11 5.0 +0.7
CXSE WisdomTree China ex-State-Owned Enterprises Fund 25.6 32 38 7.0 +2.6
FDNI First Trust Dow Jones International Internet ETF 25.4 65 5 2.8 -1.5
SOCL Global X Social Media ETF 21.0 65 5 2.3 -2.1
FLCH Franklin FTSE China ETF 19.2 19 51 9.2 +4.9
GXC SPDR S&P China ETF 18.8 59 11 8.9 +4.6
CHIL Global X MSCI China Large-Cap 50 ETF 18.1 29 41 9.5 +5.2
WCHN WisdomTree ICBCCS S&P China 500 Fund 17.9 55 15 9.2 +4.9
KALL KraneShares FTSE Emerging Markets Plus ETF 17.8 49 21 9.2 +4.8
FXI iShares China Large-Cap ETF 17.3 74 -4 13.5 +9.2
MCHI iShares MSCI China ETF 17.0 59 11 9.1 +4.7
FNI First Trust Chindia ETF 16.8 59 11 3.4 -0.9
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 16.7 80 -10 1.7 -2.6
ECON Columbia Emerging Markets Consumer ETF 15.7 59 11 4.9 +0.6
BKF iShares MSCI BRIC ETF 14.8 69 1 8.5 +4.1
AIA iShares Asia 50 ETF 14.1 50 20 8.9 +4.6
CN Xtrackers MSCI All China Equity ETF 13.7 50 20 9.4 +5.0
PEK VanEck Vectors ChinaAMC CSI 300 ETF 13.6 60 10 8.1 +3.8
IPOS Renaissance International IPO ETF 13.3 80 -10 5.0 +0.7
DINT Davis Select International ETF 13.1 75 -5 5.8 +1.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 12.9 32 38 6.8 +2.5
ESPO VanEck Vectors Video Gaming & eSports ETF 11.7 55 15 3.0 -1.4
GMF SPDR S&P Emerging Asia Pacific ETF 11.7 49 21 8.0 +3.6
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 11.3 20 50 7.6 +3.3
SCHE Schwab Emerging Markets Equity ETF 10.1 13 57 8.7 +4.3
FLAX Franklin FTSE Asia Ex Japan ETF 10.1 19 51 8.5 +4.1
EEMA iShares MSCI Emerging Markets Asia ETF 9.9 50 20 8.4 +4.1
GIGE SoFi Gig Economy ETF 9.9 59 11 -0.6 -5.0
PBEE Invesco PureBeta FTSE Emerging Markets ETF 9.8 14 56 9.5 +5.2
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF 9.7 65 5 4.2 -0.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 9.6 95 -25 10.1 +5.8
NUEM Nuveen ESG Emerging Markets Equity ETF 9.5 45 25 7.8 +3.5
ESGE iShares ESG MSCI EM ETF 9.5 25 45 9.7 +5.4
GBUY Goldman Sachs Motif New Age Consumer ETF 9.3 50 20 2.1 -2.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 9.3 68 2 8.0 +3.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 9.3 30 40 8.8 +4.4
VWO Vanguard FTSE Emerging Markets ETF 9.0 10 60 8.8 +4.5
SPEM SPDR Portfolio Emerging Markets ETF 9.0 11 59 8.6 +4.3
DVEM WisdomTree Emerging Markets Dividend Fund 8.9 32 38 9.1 +4.7
AIQ Global X Future Analytics Tech ETF 8.8 68 2 4.2 -0.2
HERO Global X Video Games & Esports ETF 8.7 50 20 3.1 -1.3
OGIG O'Shares Global Internet Giants ETF 8.4 48 22 0.5 -3.8
NERD Roundhill BITKRAFT Esports & Digital Entertainment ETF 8.3 25 45 2.3 -2.0
EEM iShares MSCI Emerging Markets ETF 8.2 68 2 8.3 +3.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 8.2 65 5 8.4 +4.1
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 7.8 65 5 4.7 +0.4
IXP iShares Global Comm Services ETF 7.7 46 24 5.8 +1.5
EEMO Invesco S&P Emerging Markets Momentum ETF 7.5 30 40 7.1 +2.8
IEMG iShares Core MSCI Emerging Markets ETF 7.4 14 56 8.7 +4.4
JOYY Infusive Compounding Global Equities ETF 7.1 50 20 3.9 -0.4
ASHX Xtrackers MSCI China A Inclusion Equity ETF 7.1 60 10 8.0 +3.7
CNYA iShares MSCI China A ETF 7.1 65 5 8.0 +3.7
KBA KraneShares Bosera MSCI China A Share ETF 7.0 60 10 8.1 +3.8
EMCG WisdomTree Emerging Markets Consumer Growth Fund 6.8 32 38 7.9 +3.6
EBIZ Global X E-Commerce ETF 6.7 50 20 3.0 -1.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 6.7 45 25 8.7 +4.4
JHEM John Hancock Multifactor Emerging Markets ETF 6.5 55 15 8.8 +4.5
CHIQ Global X China Consumer ETF 6.4 65 5 9.2 +4.8
XITK SPDR FactSet Innovative Technology ETF 6.3 45 25 0.4 -3.9
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 6.3 65 5 8.6 +4.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 6.2 32 38 9.5 +5.2
GENY Principal Millennials Index ETF 6.1 45 25 4.0 -0.4
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 6.0 18 52 6.1 +1.7
BICK First Trust BICK Index Fund 6.0 64 6 4.4 +0.1
IRBO iShares Robotics & Artificial Intelligence ETF 5.8 47 23 2.6 -1.8
FPXI First Trust International Equity Opportunities ETF 5.5 70 0 2.8 -1.5
AVEM Avantis Emerging Markets Equity ETF 5.1 33 37 9.5 +5.2
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 5.1 57 13 5.0 +0.7
VIGI Vanguard International Dividend Appreciation ETF 5.1 25 45 5.9 +1.6
DWLD Davis Select Worldwide ETF 5.0 64 6 6.6 +2.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 5.0 40 30 7.9 +3.5
PIE Invesco DWA Emerging Markets Momentum ETF 4.5 90 -20 5.7 +1.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 4.5 30 40 9.4 +5.1
PLAT WisdomTree Modern Tech Platforms Fund 4.4 45 25 1.3 -3.1
PNQI Invesco NASDAQ Internet ETF 4.3 62 8 1.2 -3.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 4.2 59 11 11.1 +6.7
BLCN Reality Shares Nasdaq NextGen Economy ETF 4.0 68 2 4.4 +0.0
LOUP Innovator Loup Frontier Tech ETF 4.0 70 0 3.1 -1.3
XBUY Amplify International Online Retail ETF 3.8 69 1 -1.1 -5.4
ISEM Invesco Strategic Emerging Markets ETF 3.8 35 35 10.3 +6.0
BLOK Amplify Transformational Data Sharing ETF 3.8 70 0 5.0 +0.7
ARKF ARK Fintech Innovation ETF 3.7 75 -5 0.8 -3.5
BUYZ Franklin Disruptive Commerce ETF 3.6 50 20 -0.1 -4.5
EKAR Innovation Shares NextGen Vehicles & Technology ETF 3.5 65 5 8.5 +4.1
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 3.4 45 25 10.0 +5.7
FCA First Trust China AlphaDEX Fund 3.3 80 -10 15.0 +10.6
EMMF WisdomTree Emerging Markets Multifactor Fund 3.3 48 22 9.9 +5.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 3.2 16 54 7.1 +2.8
GAMR ETFMG Video Game Tech ETF 3.1 75 -5 3.5 -0.8
SRVR Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF 3.0 60 10 2.5 -1.8
IFLY ETFMG Drone Economy Strategy ETF 3.0 75 -5 2.4 -2.0
RNEM Emerging Markets Equity Select ETF 3.0 75 -5 10.4 +6.1
MOTO SmartETFs Smart Transportation & Technology ETF 2.9 68 2 8.0 +3.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 2.9 60 10 8.4 +4.1
PXH Invesco FTSE RAFI Emerging Markets ETF 2.7 50 20 13.7 +9.4

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%.

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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 15.3 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.27 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.