Invesco S&P Emerging Markets Low Volatility ETF
ALTAR
Score™
10.1% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
11.9x P/Sales
ratio
0.7x
P/BV
ratio
1.1x Div.
yield
4.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Emerging Markets Low Volatility 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 S&P BMI Emerging Markets Low Volatility Index (the "Underlying Index").

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jan 13, 2012
Assets (mns) $290
Currency USD
Expense ratio 29 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Volatility
Index replication n/a
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 201
Wgt avg mkt cap (mns) $22,716
Large cap (>$10bn) 35.0%
Mid cap ($2-10bn) 52.9%
Small cap (<$2bn) 12.1%
Developed mkts 6.1%
Emerging mkts 86.5%

TOP TEN HOLDINGS
NESTLE (MALAYSIA) BHD. 1.4 %
CHUNGHWA TELECOM CO., LTD 1.2 %
GRUPO ELEKTRA SA 0.8 %
TAIWAN MOBILE CO. LTD. 0.8 %
PPB GROUP BERHAD 0.8 %
UNITED MICROELECTRONICS CORP 0.8 %
CHINA STEEL CORP 0.7 %
FAR EASTONE TELECOMMUNICATIONS CO. 0.7 %
COMPAL ELECTRONICS 0.7 %
TAIWAN FERTILIZER CO LTD 0.7 %
Total 8.7 %

TOP COUNTRY EXPOSURE
TAIWAN 39.4 %
CHINA 16.6 %
MALAYSIA 10.8 %
SAUDI ARABIA 7.3 %
SOUTH KOREA 5.4 %
HONG KONG 5.3 %
MEXICO 4.4 %
QATAR 4.2 %
KUWAIT 1.3 %
CZECH REPUBLIC 0.9 %

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.
-13.4% -6.8% 2.2% -- 0.2%

Market Correlations
versus... Beta R-squared
S&P500 0.72 58%
MSCI EAFE 0.89 76%
MSCI Emg. Mkts. 0.75 85%

Technical Indicators
Recent close $20.65
30d moving avg. $20.58
Annualized volatility 16.4%
Short interest (ETF) 0.4%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 157
Turnover 1.1%
Bid/Ask (% of price) 0.49%
ADV underlying (mns) $5,785

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Invesco S&P Emerging Markets Low Volatility ETF ETF based on the alternatives' overlap in portfolio holdings with EELV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EELV Expense: 29 bp ALTAR Score™: 10.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EELV
Ticker Fund
Name
Overlap1
vs EELV
(%)
Expense
ratio
(bp)
Savings
vs EELV
(bp)
ALTAR
Score™
(%)
ALTAR
vs EELV
(%)
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 32.9 25 4 7.9 -2.2
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 30.2 50 -21 10.5 +0.4
EWT iShares MSCI Taiwan ETF 29.4 59 -30 6.0 -4.1
FLTW Franklin FTSE Taiwan ETF 26.6 19 10 6.2 -3.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 25.1 40 -11 7.3 -2.8
RNEM Emerging Markets Equity Select ETF 23.8 75 -46 11.8 +1.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 23.5 30 -1 8.8 -1.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 23.2 39 -10 13.1 +3.0
ROAM Hartford Multifactor Emerging Markets ETF 23.1 44 -15 13.1 +3.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 22.2 44 -15 9.0 -1.1
EMMF WisdomTree Emerging Markets Multifactor Fund 21.6 48 -19 9.6 -0.5
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 20.4 45 -16 14.4 +4.3
DEM WisdomTree Emerging Markets High Dividend Fund 20.3 63 -34 14.8 +4.7
EDIV SPDR S&P Emerging Markets Dividend ETF 19.5 49 -20 11.8 +1.7
JHEM John Hancock Multifactor Emerging Markets ETF 19.3 49 -20 8.6 -1.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 18.9 30 -1 7.8 -2.3
PXH Invesco FTSE RAFI Emerging Markets ETF 18.6 50 -21 13.6 +3.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 18.4 45 -16 7.5 -2.6
SCHE Schwab Emerging Markets Equity ETF 17.7 11 18 8.0 -2.1
BKEM BNY Mellon Emerging Markets Equity ETF 17.5 11 18 8.4 -1.7
EMXC iShares MSCI Emerging Markets ex China ETF 17.4 25 4 8.0 -2.1
GMF SPDR S&P Emerging Asia Pacific ETF 17.2 49 -20 7.4 -2.7
EEMA iShares MSCI Emerging Markets Asia ETF 17.2 50 -21 7.6 -2.5
FDEM Fidelity Targeted Emerging Markets Factor ETF 17.0 45 -16 8.6 -1.5
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 16.9 45 -16 9.0 -1.1
SPEM SPDR Portfolio Emerging Markets ETF 16.8 11 18 8.0 -2.1
PBEE Invesco PureBeta FTSE Emerging Markets ETF 16.6 15 14 8.7 -1.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 16.5 65 -36 7.5 -2.6
ESGE iShares ESG MSCI EM ETF 16.5 25 4 8.7 -1.5
EEM iShares MSCI Emerging Markets ETF 16.5 68 -39 7.4 -2.7
VWO Vanguard FTSE Emerging Markets ETF 16.3 10 19 8.1 -2.1
EMFM Global X MSCI Next Emerging & Frontier ETF 15.9 66 -37 9.0 -1.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 15.7 49 -20 7.9 -2.3
IEMG iShares Core MSCI Emerging Markets ETF 15.3 13 16 7.9 -2.2
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 14.9 36 -7 7.4 -2.8
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 14.6 49 -20 7.7 -2.5
FLAX Franklin FTSE Asia Ex Japan ETF 14.6 19 10 7.7 -2.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 14.2 68 -39 7.1 -3.0
XCEM Columbia EM Core ex-China ETF 13.8 16 13 7.1 -3.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 13.7 32 -3 9.1 -1.0
ISEM Invesco Strategic Emerging Markets ETF 13.7 35 -6 10.7 +0.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 13.6 20 9 6.8 -3.3
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 13.2 51 -22 14.3 +4.2
DVEM WisdomTree Emerging Markets Dividend Fund 13.1 32 -3 7.3 -2.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 12.8 59 -30 11.0 +0.9
AVEM Avantis Emerging Markets Equity ETF 12.6 33 -4 8.9 -1.2
NUEM Nuveen ESG Emerging Markets Equity ETF 12.4 45 -16 6.9 -3.2
PIE Invesco DWA Emerging Markets Momentum ETF 11.4 90 -61 5.0 -5.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 11.2 32 -3 5.9 -4.2
EEMO Invesco S&P Emerging Markets Momentum ETF 11.1 29 0 6.4 -3.7
ECOW Pacer Emerging Markets Cash Cows 100 ETF 10.8 74 -45 13.2 +3.1
FEM First Trust Emerging Markets AlphaDEX Fund 10.5 80 -51 13.4 +3.3
LVIN Hartford Multifactor Low Volatility International Equity ETF 10.5 29 0 11.4 +1.3
VYMI Vanguard International High Dividend Yield ETF 10.3 27 2 10.1 0.0
EWM iShares MSCI Malaysia ETF 10.3 49 -20 6.2 -3.9
FXI iShares China Large-Cap ETF 10.3 74 -45 13.7 +3.6
VIDI Vident International Equity Fund 10.1 59 -30 11.0 +0.9
AIA iShares Asia 50 ETF 9.7 50 -21 8.0 -2.1
GXC SPDR S&P China ETF 9.7 59 -30 8.2 -1.9
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 9.2 63 -34 12.6 +2.5
MCHI iShares MSCI China ETF 9.0 59 -30 7.9 -2.2
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 8.8 20 9 11.2 +1.1
DVYE iShares Emerging Markets Dividend ETF 8.8 49 -20 16.9 +6.8
FLCH Franklin FTSE China ETF 8.7 19 10 8.4 -1.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 8.0 95 -66 8.0 -2.1
KALL KraneShares FTSE Emerging Markets Plus ETF 8.0 49 -20 8.2 -1.9
ECON Columbia Emerging Markets Consumer ETF 7.8 59 -30 4.5 -5.6
BKF iShares MSCI BRIC ETF 7.6 69 -40 7.6 -2.6
CN Xtrackers MSCI All China Equity ETF 7.4 50 -21 8.2 -1.9
ACWV iShares Edge MSCI Min Vol Global ETF 7.4 20 9 5.7 -4.4
FLSA Franklin FTSE Saudi Arabia ETF 7.3 39 -10 5.6 -4.5
KSA iShares MSCI Saudi Arabia Capped ETF 7.3 74 -45 5.3 -4.8
VSGX Vanguard ESG International Stock ETF 6.9 17 12 7.0 -3.1
CHIX Global X China Financials ETF 6.9 66 -37 20.4 +10.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 6.4 40 -11 7.0 -3.2
VEU Vanguard FTSE All-World ex-US Index Fund 6.3 8 21 7.5 -2.6
IQDF FlexShares International Quality Dividend Index Fund 6.3 47 -18 8.9 -1.2
ACWX iShares MSCI ACWI ex U.S. ETF 6.3 32 -3 7.2 -2.9
VXUS Vanguard Total International Stock Index Fund 6.0 8 21 7.4 -2.7
EEMD AAM S&P Emerging Markets High Dividend Value ETF 6.0 50 -21 19.1 +9.0
IXUS ishares Core MSCI Total International Stock ETF 5.9 9 20 7.3 -2.8
DWX SPDR S&P International Dividend ETF 5.8 45 -16 7.6 -2.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 5.5 16 13 6.8 -3.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 5.5 47 -18 9.0 -1.1
FRDM Freedom 100 Emerging Markets ETF 5.4 49 -20 6.7 -3.4
SDEM Global X SuperDividend Emerging Markets ETF 5.4 66 -37 17.9 +7.8
IQDE FlexShares International Quality Dividend Defensive Index Fd 5.3 47 -18 9.0 -1.1
BICK First Trust BICK Index Fund 5.2 64 -35 4.4 -5.7
OBOR KraneShares MSCI One Belt One Road Index ETF 5.0 79 -50 9.1 -1.0
DEW WisdomTree Global High Dividend Fund 5.0 58 -29 9.4 -0.7
DWCR Arrow DWA Country Rotation ETF 5.0 95 -66 13.9 +3.8
NXTG First Trust Indxx NextG ETF 5.0 70 -41 6.0 -4.1
CHIL Global X MSCI China Large-Cap 50 ETF 4.8 29 0 7.9 -2.2
FLMX Franklin FTSE Mexico ETF 4.4 19 10 10.2 +0.1
EWX SPDR S&P Emerging Markets Small Cap ETF 4.4 65 -36 6.0 -4.1
CWI SPDR MSCI ACWI ex-US ETF 4.3 30 -1 7.1 -3.0
QAT iShares MSCI Qatar Capped ETF 4.2 59 -30 6.8 -3.3
CRBN iShares MSCI ACWI Low Carbon Target ETF 4.1 20 9 6.4 -3.8

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 S&P Emerging Markets Low Volatility ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.5 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 10.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 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.