Invesco Zacks Mid-Cap ETF
ALTAR
Score™
6.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
20.8x P/Sales
ratio
1.3x
P/BV
ratio
2.0x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Claymore/Zacks Mid-Cap Core ETF seeks investment results that correspond to the performance of the Zacks Mid-Cap Core Index.

FUND BASICS
Category US Equities
Fund Sponsor Guggenheim
Website guggenheiminvestments.com
Inception date Apr 03, 2007
Assets (mns) $233
Currency USD
Expense ratio 76 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $14,929
Large cap (>$10bn) 74.7%
Mid cap ($2-10bn) 25.3%
Small cap (<$2bn) 0.0%
Developed mkts 98.1%
Emerging mkts 1.9%

TOP TEN HOLDINGS
DOLLAR TREE INC 2.2 %
ZIMMER HOLDINGS INC 2.2 %
PACCAR INC 2.2 %
KLA-TENCOR CORPORATION 2.1 %
YUM! BRANDS INC 2.1 %
XILINX INC 2.0 %
STATE STREET CORP 2.0 %
BALL CORP 2.0 %
ROCKWELL AUTOMATION INC 2.0 %
CORTEVA INC 1.9 %
Total 20.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 83.5 %
BRITAIN 3.6 %
BERMUDA 3.5 %
IRELAND 3.4 %
CANADA 2.6 %
SWITZERLAND 1.5 %
PERU 1.1 %
TAIWAN 0.8 %



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.
-21.1% -8.2% 4.9% 10.8% 7.6%

Market Correlations
versus... Beta R-squared
S&P500 1.12 87%
MSCI EAFE 1.20 86%
MSCI Emg. Mkts. 0.88 71%

Technical Indicators
Recent close $61.27
30d moving avg. $56.80
Annualized volatility 20.4%
Short interest (ETF) 0.0%
Short interest (Underlying) 1.8%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 27
Turnover 0.7%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $10,057

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco Zacks Mid-Cap ETF ETF based on the alternatives' overlap in portfolio holdings with CZA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CZA Expense: 76 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CZA
Ticker Fund
Name
Overlap1
vs CZA
(%)
Expense
ratio
(bp)
Savings
vs CZA
(bp)
ALTAR
Score™
(%)
ALTAR
vs CZA
(%)
JKG iShares Morningstar Mid-Cap ETF 22.0 25 51 6.1 -0.2
JKI iShares Morningstar Mid-Cap Value ETF 18.6 30 46 9.7 +3.4
VOE Vanguard Mid-Cap Value Index Fund 17.6 7 69 8.0 +1.7
LGLV SPDR Russell 1000 Low Volatility ETF 16.0 12 64 5.7 -0.6
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 15.7 24 52 6.1 -0.2
IWS iShares Russell Mid-Cap Value ETF 15.7 24 52 7.3 +1.0
TPLC Timothy Plan US Large Cap Core ETF 15.6 52 24 5.5 -0.8
JHMI John Hancock Multifactor Industrials ETF 15.4 40 36 6.1 -0.2
JHMM John Hancock Multifactor Mid Cap ETF 14.5 44 32 5.8 -0.5
VO Vanguard Mid-Cap Index Fund 14.2 4 72 5.5 -0.7
ONEV SPDR Russell 1000 Low Volatility Focus ETF 13.9 20 56 7.1 +0.8
TPHD Timothy Plan High Dividend Stock ETF 13.7 52 24 7.3 +1.1
ONEY SPDR Russell 1000 Yield Focus ETF 13.3 20 56 8.6 +2.3
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 13.2 20 56 7.7 +1.4
IWR iShares Russell Midcap ETF 13.2 19 57 5.7 -0.5
VOT Vanguard Mid-Cap Growth Index Fund 12.2 7 69 3.6 -2.7
EQRR ProShares Equities for Rising Rates ETF 12.2 35 41 6.1 -0.1
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 11.8 30 46 6.0 -0.2
PSET Principal Price Setters Index ETF 11.7 29 47 4.7 -1.6
SCHM Schwab U.S. Mid-Cap ETF 11.7 4 72 6.4 +0.1
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 11.6 17 59 6.6 +0.3
CFA VictoryShares US 500 Volatility Weighted Index ETF 11.4 35 41 5.9 -0.4
DON WisdomTree U.S. MidCap Dividend Fund 11.4 38 38 7.8 +1.5
RGI Invesco S&P 500 Equal Weight Industrials ETF 11.1 40 36 5.9 -0.4
PY Principal Shareholder Yield Index ETF 11.1 29 47 9.4 +3.1
RVRS Reverse Cap Weighted U.S. Large Cap ETF 10.9 29 47 7.4 +1.1
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 10.9 29 47 6.8 +0.5
FXO First Trust Financials AlphaDEX Fund 10.8 63 13 12.2 +6.0
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 10.8 63 13 7.1 +0.9
FVD First Trust Value Line Dividend Index Fund 10.7 70 6 6.3 0.0
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 10.7 17 59 7.0 +0.7
ONEO SPDR Russell 1000 Momentum Focus ETF 10.4 20 56 6.6 +0.4
VAW Vanguard Materials Index Fund 10.3 10 66 6.3 0.0
SPYB SPDR S&P 500 Buyback ETF 10.3 35 41 9.5 +3.2
FMAT Fidelity MSCI Materials Index ETF 10.3 8 68 6.2 -0.0
MAGA Point Bridge GOP Stock Tracker ETF 10.2 72 4 6.7 +0.4
IWP iShares Russell Mid-Cap Growth ETF 10.2 24 52 4.2 -2.0
USMF WisdomTree U.S. Multifactor Fund 10.1 28 48 6.2 -0.1
RNLC Large Cap US Equity Select ETF 10.0 60 16 6.3 +0.0
JHMF John Hancock Multifactor Financials ETF 10.0 40 36 7.8 +1.5
HOMZ Hoya Capital Housing ETF 10.0 45 31 7.2 +0.9
PVAL Principal Contrarian Value Index ETF 9.9 29 47 7.5 +1.3
MDYG SPDR S&P 400 Mid Cap Growth ETF 9.8 15 61 4.9 -1.4
IJK iShares S&P Mid-Cap 400 Growth ETF 9.8 24 52 4.8 -1.5
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 9.8 9 67 6.0 -0.3
AFMC First Trust Active Factor Mid Cap ETF 9.7 65 11 6.2 -0.1
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 9.7 15 61 4.8 -1.5
JMIN JPMorgan U.S. Minimum Volatility ETF 9.6 12 64 5.9 -0.4
RSP Invesco S&P 500 Equal Weight ETF 9.5 20 56 6.9 +0.7
KLCD KFA Large Cap Quality Dividend Index ETF 9.5 41 35 5.3 -0.9
EUSA iShares MSCI USA Equal Weighted ETF 9.3 15 61 6.2 -0.1
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 9.2 35 41 5.9 -0.4
SCHH Schwab U.S. REIT ETF 9.2 7 69 7.8 +1.5
RWR SPDR Dow Jones REIT ETF 9.2 25 51 7.6 +1.3
USRT iShares Core U.S. REIT ETF 9.2 8 68 7.6 +1.3
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 9.2 11 65 7.6 +1.3
FRI First Trust S&P REIT Index Fund 9.2 50 26 7.2 +0.9
PSR Invesco Active U.S. Real Estate Fund 9.2 35 41 6.3 +0.0
SIZE iShares Edge MSCI USA Size Factor ETF 9.2 15 61 6.0 -0.2
RWO SPDR Dow Jones Global Real Estate ETF 9.2 50 26 7.3 +1.0
RYF Invesco S&P 500 Equal Weight Financials ETF 9.1 40 36 9.9 +3.7
RNDV US Equity Dividend Select ETF 9.1 50 26 7.9 +1.7
IYR iShares U.S. Real Estate ETF 9.1 42 34 6.6 +0.4
FREL Fidelity MSCI Real Estate Index ETF 9.1 8 68 6.7 +0.5
JPUS JPMorgan Diversified Return U.S. Equity ETF 9.1 19 57 6.3 +0.1
REET iShares Global REIT ETF 9.1 14 62 7.6 +1.3
MDY SPDR S&P Midcap 400 ETF Trust 9.0 23 53 6.3 +0.0
IJH iShares Core S&P Mid-Cap ETF 9.0 6 70 6.5 +0.2
SPMD SPDR Portfolio Mid Cap ETF 9.0 5 71 6.5 +0.2
JHMA John Hancock Multifactor Materials ETF 9.0 40 36 7.0 +0.7
PPTY PPTY-U.S. Diversified Real Estate ETF 8.9 53 23 6.6 +0.3
RTM Invesco S&P 500 Equal Weight Materials ETF 8.9 40 36 6.5 +0.2
XLB Materials Select Sector SPDR Fund 8.9 13 63 6.0 -0.3
IVOO Vanguard S&P Mid-Cap 400 ETF 8.8 10 66 6.3 +0.1
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 8.7 20 56 9.7 +3.4
SCIU Global X Scientific Beta US ETF 8.6 19 57 5.8 -0.5
QSY WisdomTree U.S. LargeCap Value Fund 8.6 38 38 6.9 +0.6
PEXL Pacer US Export Leaders ETF 8.6 60 16 6.3 0.0
FTA First Trust Large Cap Value AlphaDEX Fund 8.5 60 16 9.2 +3.0
VNQ Vanguard REIT Index Fund 8.5 12 64 6.7 +0.4
ESGS Columbia Sustainable U.S. Equity Income ETF 8.5 35 41 9.1 +2.8
SPGP Invesco S&P 500 GARP ETF 8.4 35 41 7.4 +1.1
IYJ iShares U.S. Industrials ETF 8.4 42 34 6.0 -0.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 8.3 15 61 6.4 +0.2
BFOR Barron's 400 ETF 8.3 66 10 6.4 +0.1
BUL Pacer US Cash Cows Growth ETF 8.2 60 16 5.7 -0.6
FEX First Trust Large Cap Core AlphaDEX Fund 8.2 60 16 6.1 -0.1
VIS Vanguard Industrials Index Fund 8.1 10 66 6.1 -0.2
EQAL Invesco Russell 1000 Equal Weight ETF 8.1 20 56 5.1 -1.1
FIDU Fidelity MSCI Industrials Index ETF 8.0 8 68 6.1 -0.2
SPHB Invesco S&P 500 High Beta ETF 8.0 25 51 10.4 +4.1
XLI Industrial Select Sector SPDR Fund 8.0 13 63 6.0 -0.2
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 8.0 49 27 10.2 +3.9
JKH iShares Morningstar Mid-Cap Growth ETF 8.0 30 46 2.5 -3.8
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 7.9 25 51 6.0 -0.3
RCD Invesco S&P 500 Equal Weight Consumer Discretionary ETF 7.9 40 36 7.5 +1.3
RPG Invesco S&P 500 Pure Growth ETF 7.9 35 41 4.5 -1.8
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 7.8 60 16 7.5 +1.2
FCTR First Trust Lunt U.S. Factor Rotation ETF 7.7 65 11 5.1 -1.2
XMLV Invesco S&P MidCap Low Volatility ETF 7.7 25 51 5.4 -0.9

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 Zacks Mid-Cap 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 13.6 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 76 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.53
 
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.