Invesco DWA SmallCap Momentum ETF
ALTAR
Score™
-2.0% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
-68.3x P/Sales
ratio
1.8x
P/BV
ratio
5.1x Div.
yield
0.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco DWA SmallCap Technical Leaders Portfolio is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Dorsey Wright SmallCap Technical LeadersTM Index (the "Underlying Index").

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jul 19, 2012
Assets (mns) $256
Currency USD
Expense ratio 60 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Tiered
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 200
Wgt avg mkt cap (mns) $2,592
Large cap (>$10bn) 3.0%
Mid cap ($2-10bn) 41.3%
Small cap (<$2bn) 51.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GLOBAL MEDICAL REIT INC 1.5 %
NAUTILUS INC 1.5 %
CRYOPORT, INC. 1.4 %
HESKA CORP 1.3 %
FRESHPET INC 1.3 %
EGAIN COMMUNICATIONS CORP 1.3 %
OVERSTOCK.COM INC 1.3 %
US AUTO PARTS NETWORK INC 1.2 %
MERSANA THERAPEUTICS, INC. 1.2 %
PLUG POWER INC 1.2 %
Total 13.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.2 %
PUERTO RICO 0.4 %
BERMUDA 0.3 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
4.3% 19.1% 10.1% -- 11.7%

Market Correlations
versus... Beta R-squared
S&P500 1.21 76%
MSCI EAFE 1.23 64%
MSCI Emg. Mkts. 0.90 54%

Technical Indicators
Recent close $63.90
30d moving avg. $61.64
Annualized volatility 24.7%
Short interest (ETF) 0.2%
Short interest (Underlying) 5.8%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 27
Turnover 0.7%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $13,878

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: DWAS Expense: 60 bp ALTAR Score™: -2.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DWAS
Ticker Fund
Name
Overlap1
vs DWAS
(%)
Expense
ratio
(bp)
Savings
vs DWAS
(bp)
ALTAR
Score™
(%)
ALTAR
vs DWAS
(%)
FYC First Trust Small Cap Growth AlphaDEX Fund 26.9 70 -10 1.8 +3.8
DWMC AdvisorShares Dorsey Wright Micro-Cap ETF 23.4 125 -65 -3.0 -1.0
IWO iShares Russell 2000 Growth ETF 19.9 24 36 -0.1 +1.9
FYX First Trust Small Cap Core AlphaDEX Fund 17.8 63 -3 5.9 +7.9
VTWG Vanguard Russell 2000 Growth Index Fund 17.4 15 45 0.1 +2.1
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 16.2 29 31 4.8 +6.8
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 16.0 20 40 4.7 +6.7
STSB iShares Factors US Small Blend Style ETF 15.9 35 25 3.5 +5.5
IWC iShares Micro-Cap ETF 15.8 60 0 -3.8 -1.8
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 15.8 24 36 6.3 +8.3
IWM iShares Russell 2000 ETF 15.5 19 41 3.2 +5.2
VTWO Vanguard Russell 2000 Index Fund 15.3 10 50 3.4 +5.4
VIOO Vanguard S&P Small-Cap 600 ETF 14.1 10 50 6.7 +8.7
AFSM First Trust Active Factor Small Cap ETF 14.0 75 -15 5.3 +7.3
SPSM SPDR Portfolio Small Cap ETF 13.9 5 55 6.8 +8.8
SLY SPDR S&P 600 Small Cap ETF 13.9 15 45 6.7 +8.7
IJR iShares Core S&P Small Cap ETF 13.7 6 54 6.8 +8.8
TPSC Timothy Plan US Small Cap Core ETF 12.7 52 8 7.7 +9.7
SLYG SPDR S&P 600 Small Cap Growth ETF 12.7 15 45 5.2 +7.2
EES WisdomTree SmallCap Earnings Fund 12.6 38 22 9.7 +11.7
IJT iShares S&P Small-Cap 600 Growth ETF 12.6 25 35 5.3 +7.3
PTH Invesco DWA Healthcare Momentum ETF 12.6 60 0 -4.9 -2.9
VIOG Vanguard S&P Small-Cap 600 Growth ETF 12.4 16 44 5.2 +7.2
CSML IQ Chaikin U.S. Small Cap ETF 12.4 35 25 3.7 +5.7
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 12.2 29 31 0.2 +2.2
VFMO Vanguard U.S. Momentum Factor ETF 11.9 13 47 0.7 +2.7
PEZ Invesco DWA Consumer Cyclicals Momentum ETF 11.6 60 0 0.4 +2.4
RZG Invesco S&P Smallcap 600 Pure Growth ETF 11.6 35 25 5.6 +7.6
FNY First Trust Mid Cap Growth AlphaDEX Fund 11.5 70 -10 2.0 +4.0
FAD First Trust Multi Cap Growth AlphaDEX Fund 11.5 66 -6 2.2 +4.2
SCHA Schwab U.S. Small-Cap ETF 11.5 4 56 4.6 +6.6
VAMO Cambria Value & Momentum ETF 11.0 63 -3 5.9 +7.9
SSLY Syntax Stratified SmallCap ETF 11.0 30 30 6.2 +8.3
RWJ Invesco S&P SmallCap 600 Revenue ETF 10.7 39 21 6.7 +8.7
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 10.5 40 20 6.9 +9.0
PXSG Invesco S&P SmallCap Momentum ETF 10.4 39 21 3.7 +5.7
BTEC Principal Healthcare Innovators Index ETF 10.4 42 18 -2.2 -0.2
IWN iShares Russell 2000 Value ETF 10.2 24 36 6.5 +8.5
VIOV Vanguard S&P Small-Cap 600 Value ETF 10.1 15 45 8.5 +10.5
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 9.9 35 25 5.7 +7.8
IJS iShares S&P Small-cap 600 Value ETF 9.9 25 35 8.5 +10.5
SLYV SPDR S&P 600 Small Cap Value ETF 9.9 15 45 8.4 +10.4
NUSC Nuveen ESG Small-Cap ETF 9.7 40 20 4.6 +6.6
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 9.4 35 25 7.5 +9.5
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 9.3 39 21 6.2 +8.2
AVUV Avantis U.S. Small Cap Value ETF 9.2 25 35 7.6 +9.6
JHSC John Hancock Multifactor Small Cap ETF 9.1 42 18 5.3 +7.3
ISMD Inspire Small/Mid Cap Impact ETF 9.1 60 0 4.7 +6.7
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 9.1 29 31 7.5 +9.5
IUSS Invesco Strategic US Small Company ETF 9.0 23 37 5.0 +7.0
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 8.9 39 21 4.4 +6.4
FNX First Trust Mid Cap Core AlphaDEX Fund 8.9 61 -1 6.2 +8.2
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 8.6 30 30 7.3 +9.3
PSC Principal U.S. Small Cap Index ETF 8.5 38 22 6.5 +8.5
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 8.5 17 43 4.6 +6.6
PBSM Invesco PureBeta MSCI USA Small Cap ETF 8.3 6 54 4.9 +7.0
FNDA Schwab Fundamental U.S. Small Co. Index ETF 8.2 25 35 7.0 +9.0
IBBJ Defiance Nasdaq Junior Biotechnology ETF 7.9 45 15 -2.0 -0.0
KOMP SPDR Kensho New Economies Composite ETF 7.8 20 40 2.2 +4.2
JKK iShares Morningstar Small-Cap Growth ETF 7.7 30 30 1.0 +3.0
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 7.6 35 25 7.7 +9.7
VTWV Vanguard Russell 2000 Value Index Fund 7.5 15 45 6.6 +8.7
XBI SPDR S&P BIOTECH ETF 7.3 35 25 -2.1 -0.1
RZV Invesco S&P Smallcap 600 Pure Value ETF 7.0 35 25 7.9 +9.9
PRN Invesco DWA Industrials Momentum ETF 7.0 60 0 2.8 +4.8
XSW SPDR S&P Software & Services ETF 6.9 35 25 4.3 +6.3
BUY USCF SummerHaven SHPEI Index Fund 6.8 80 -20 8.6 +10.6
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 6.5 12 48 7.3 +9.3
BKSE BNY Mellon US Small Cap Core Equity ETF 6.5 4 56 5.5 +7.5
RNSC Small Cap US Equity Select ETF 6.2 60 0 6.7 +8.7
XRT SPDR S&P Retail ETF 6.1 35 25 5.5 +7.5
VBK Vanguard Small-Cap Growth Index Fund 6.1 7 53 2.2 +4.2
JSML Janus Henderson Small Cap Growth Alpha ETF 6.1 30 30 7.8 +9.8
ROGS Hartford Multifactor Global Small Cap ETF 5.8 34 26 7.9 +9.9
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 5.7 20 40 4.5 +6.5
BFOR Barron's 400 ETF 5.6 65 -5 6.3 +8.3
FSMD Fidelity Small-Mid Factor ETF 5.5 29 31 6.0 +8.0
VXF Vanguard Extended Market Index Fund 5.2 6 54 3.4 +5.4
XHE SPDR S&P Health Care Equipment ETF 5.2 35 25 1.6 +3.6
XSVM Invesco S&P SmallCap Value with Momentum ETF 5.2 39 21 8.8 +10.8
SQLV Legg Mason Small-Cap Quality Value 5.1 62 -2 6.1 +8.1
CALF Pacer US Small Cap Cash Cows 100 ETF 5.0 59 1 8.7 +10.8
PTF Invesco DWA Technology Momentum ETF 5.0 60 0 0.1 +2.1
VB Vanguard Small-Cap ETF 5.0 5 55 5.1 +7.1
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 5.0 60 0 0.5 +2.5
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 4.9 29 31 5.5 +7.5
IBB iShares NASDAQ Biotechnology ETF 4.9 46 14 0.5 +2.5
PSCH Invesco S&P SmallCap Health Care ETF 4.9 29 31 2.7 +4.7
DES WisdomTree U.S. SmallCap Dividend Fund 4.8 38 22 8.1 +10.1
EDOC Global X Telemedicine & Digital Health ETF 4.8 68 -8 0.7 +2.7
BBC Virtus LifeSci Biotech Clinical Trials ETF 4.7 79 -19 0.0 +2.0
VUSE Vident Core US Equity Fund 4.7 48 12 8.6 +10.6
PSCF Invesco S&P SmallCap Financials ETF 4.6 29 31 10.7 +12.7
VFMF Vanguard U.S. Multifactor ETF 4.6 19 41 7.1 +9.1
HELX Franklin Genomic Advancements ETF 4.6 50 10 -1.2 +0.8
TUSA First Trust Total US Market AlphaDEX ETF 4.5 70 -10 5.5 +7.5
FDM First Trust Dow Jones Select Microcap Index Fund 4.5 60 0 2.6 +4.6
PFI Invesco DWA Financial Momentum ETF 4.5 60 0 5.7 +7.8
JKJ iShares Morningstar Small-Cap ETF 4.5 25 35 6.1 +8.1
HTEC ROBO Global Healthcare Technology & Innovation ETF 4.4 68 -8 0.1 +2.1

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 DWA SmallCap Momentum 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 -7.0 %
Divided by: Fwd. P/BV 5.0 x
Less: Expense ratio 60 bp
Equals: ALTAR Score -2.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.32 CATEGORY
AVERAGE
1.51
 
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.