Invesco S&P Emerging Markets Momentum ETF
ALTAR
Score™
6.3% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
18.6x P/Sales
ratio
1.9x
P/BV
ratio
2.3x Div.
yield
2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P Emerging Markets Momentum Portfolio is based on the S&P Momentum Emerging Plus LargeMidCap Index. The Fund will invest at least 90% of its total assets in the securities of companies that comprise the Underlying Index, as well as ADRs/GDRs representing ownership in the securities in the Underlying Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Feb 24, 2012
Assets (mns) $6
Currency USD
Expense ratio 29 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 194
Wgt avg mkt cap (mns) $101,412
Large cap (>$10bn) 79.2%
Mid cap ($2-10bn) 18.8%
Small cap (<$2bn) 1.1%
Developed mkts 11.5%
Emerging mkts 88.5%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 10.3 %
SAMSUNG ELECTRONICS CO LTD 7.9 %
MEITUAN DIANPING 6.5 %
JD.COM INC-ADR 2.9 %
SAMSUNG ELECTRONICS-PFD 2.0 %
MEDIATEK INC 2.0 %
NHN CORP 1.9 %
NETEASE.COM INC-ADR 1.8 %
TAL EDUCATION GROUP UNSPONSORED AD 1.8 %
GAZPROM OAO 1.7 %
Total 38.9 %

TOP COUNTRY EXPOSURE
TAIWAN 24.2 %
CHINA 23.6 %
SOUTH KOREA 14.0 %
BRAZIL 8.8 %
INDIA 8.2 %
RUSSIA 6.7 %
SOUTH AFRICA 2.6 %
KUWAIT 2.4 %
INDONESIA 1.8 %
HONG KONG 1.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-9.8% -1.8% 2.8% -- -1.5%

Market Correlations
versus... Beta R-squared
S&P500 1.00 58%
MSCI EAFE 1.21 72%
MSCI Emg. Mkts. 1.01 83%

Technical Indicators
Recent close $15.94
30d moving avg. $15.29
Annualized volatility 22.5%
Short interest (ETF) 0.1%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 4
Turnover 1.0%
Bid/Ask (% of price) 0.88%
ADV underlying (mns) $10,898

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EEMO Expense: 29 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EEMO
Ticker Fund
Name
Overlap1
vs EEMO
(%)
Expense
ratio
(bp)
Savings
vs EEMO
(bp)
ALTAR
Score™
(%)
ALTAR
vs EEMO
(%)
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 36.5 49 -20 7.6 +1.3
EMXC iShares MSCI Emerging Markets ex China ETF 33.3 25 4 8.0 +1.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 31.7 45 -16 7.8 +1.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 30.4 32 -3 6.2 -0.1
DVEM WisdomTree Emerging Markets Dividend Fund 30.0 32 -3 8.2 +1.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 29.8 49 -20 7.7 +1.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 29.6 30 -1 7.8 +1.5
AIA iShares Asia 50 ETF 28.3 50 -21 8.0 +1.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 28.2 36 -7 8.1 +1.8
ESGE iShares ESG MSCI EM ETF 28.0 25 4 8.6 +2.3
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 27.9 20 9 6.7 +0.4
EEM iShares MSCI Emerging Markets ETF 27.8 68 -39 7.4 +1.1
EEMA iShares MSCI Emerging Markets Asia ETF 27.6 50 -21 7.5 +1.2
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 27.4 65 -36 7.4 +1.1
BKEM BNY Mellon Emerging Markets Equity ETF 27.1 11 18 8.4 +2.1
JHEM John Hancock Multifactor Emerging Markets ETF 26.7 49 -20 8.4 +2.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 26.0 68 -39 7.0 +0.7
FDEM Fidelity Targeted Emerging Markets Factor ETF 25.9 45 -16 9.5 +3.2
IEMG iShares Core MSCI Emerging Markets ETF 25.3 13 16 7.9 +1.6
XCEM Columbia EM Core ex-China ETF 25.1 16 13 7.1 +0.8
FLAX Franklin FTSE Asia Ex Japan ETF 25.0 19 10 7.7 +1.4
SCHE Schwab Emerging Markets Equity ETF 24.0 11 18 7.9 +1.6
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 23.7 45 -16 13.1 +6.8
FLTW Franklin FTSE Taiwan ETF 23.1 19 10 6.0 -0.3
EWT iShares MSCI Taiwan ETF 23.0 59 -30 5.6 -0.7
PBEE Invesco PureBeta FTSE Emerging Markets ETF 22.9 15 14 8.6 +2.3
PIE Invesco DWA Emerging Markets Momentum ETF 22.9 90 -61 4.6 -1.7
BKF iShares MSCI BRIC ETF 21.5 69 -40 7.4 +1.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 21.3 30 -1 8.7 +2.4
NUEM Nuveen ESG Emerging Markets Equity ETF 21.2 45 -16 7.0 +0.7
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 21.2 32 -3 8.9 +2.6
CXSE WisdomTree China ex-State-Owned Enterprises Fund 20.6 32 -3 6.1 -0.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 20.6 44 -15 9.0 +2.7
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 20.3 64 -35 4.5 -1.8
VWO Vanguard FTSE Emerging Markets ETF 20.1 10 19 8.0 +1.7
PXH Invesco FTSE RAFI Emerging Markets ETF 19.6 50 -21 13.3 +7.0
SPEM SPDR Portfolio Emerging Markets ETF 19.6 11 18 7.8 +1.5
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 19.1 50 -21 10.3 +4.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 19.1 95 -66 9.2 +2.9
ECON Columbia Emerging Markets Consumer ETF 18.1 59 -30 4.5 -1.8
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 17.5 40 -11 7.3 +1.0
BICK First Trust BICK Index Fund 17.0 64 -35 4.4 -1.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 16.7 59 -30 10.9 +4.6
GMF SPDR S&P Emerging Asia Pacific ETF 16.2 49 -20 7.3 +1.0
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 16.2 86 -57 2.2 -4.1
MCHI iShares MSCI China ETF 16.1 59 -30 7.8 +1.5
FDNI First Trust Dow Jones International Internet ETF 15.8 65 -36 2.2 -4.1
FLCH Franklin FTSE China ETF 15.4 19 10 8.4 +2.1
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 15.3 45 -16 8.9 +2.6
EMMF WisdomTree Emerging Markets Multifactor Fund 15.3 48 -19 9.3 +3.0
CHIL Global X MSCI China Large-Cap 50 ETF 15.0 29 0 8.4 +2.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 14.8 25 4 7.8 +1.5
AVEM Avantis Emerging Markets Equity ETF 14.7 33 -4 8.7 +2.4
FRDM Freedom 100 Emerging Markets ETF 14.6 49 -20 6.5 +0.2
GXC SPDR S&P China ETF 14.4 59 -30 8.0 +1.7
CHIQ Global X China Consumer ETF 14.4 65 -36 7.0 +0.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 14.1 39 -10 12.8 +6.5
FLKR Franklin FTSE South Korea ETF 14.0 9 20 8.6 +2.3
WUGI Esoterica NextG Economy ETF 13.9 75 -46 1.7 -4.6
KWEB KraneShares CSI China Internet ETF 13.8 76 -47 1.8 -4.5
ISEM Invesco Strategic Emerging Markets ETF 13.7 35 -6 10.3 +4.0
FEM First Trust Emerging Markets AlphaDEX Fund 13.2 80 -51 12.8 +6.5
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 13.0 80 -51 3.9 -2.4
ROAM Hartford Multifactor Emerging Markets ETF 12.3 44 -15 14.6 +8.3
EWY iShares MSCI South Korea ETF 11.9 59 -30 8.2 +1.9
EELV Invesco S&P Emerging Markets Low Volatility ETF 11.2 29 0 9.9 +3.6
CN Xtrackers MSCI All China Equity ETF 10.7 50 -21 8.1 +1.8
KALL KraneShares FTSE Emerging Markets Plus ETF 10.7 49 -20 8.1 +1.8
DINT Davis Select International ETF 10.5 68 -39 5.7 -0.6
TTTN UP Fintech China-U.S. Internet Titans ETF 10.3 59 -30 4.2 -2.1
GBUY Goldman Sachs Motif New Age Consumer ETF 10.3 50 -21 1.8 -4.5
RNEM Emerging Markets Equity Select ETF 10.2 75 -46 11.5 +5.2
FLLA Franklin FTSE Latin America ETF 9.6 19 10 6.6 +0.3
BLOK Amplify Transformational Data Sharing ETF 9.0 70 -41 4.2 -2.1
CQQQ Invesco China Technology ETF 8.9 70 -41 3.8 -2.5
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 8.9 18 11 5.4 -0.9
FLBR Franklin FTSE Brazil ETF 8.8 19 10 5.1 -1.2
PGJ Invesco Golden Dragon China ETF 8.8 70 -41 3.2 -3.1
FNI First Trust Chindia ETF 8.8 60 -31 2.7 -3.6
EWZ iShares MSCI Brazil Capped ETF 8.7 59 -30 4.6 -1.7
FXI iShares China Large-Cap ETF 8.7 74 -45 13.2 +6.9
VSGX Vanguard ESG International Stock ETF 8.5 17 12 7.1 +0.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 8.5 16 13 6.9 +0.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 8.3 40 -11 7.0 +0.7
FPXI First Trust International Equity Opportunities ETF 8.1 70 -41 3.2 -3.1
IXSE WisdomTree India Ex-State-Owned Enterprises Fund 7.8 58 -29 4.6 -1.7
ACWX iShares MSCI ACWI ex U.S. ETF 7.7 32 -3 7.3 +1.0
FBZ First Trust Brazil AlphaDEX Fund 7.7 80 -51 6.6 +0.3
DWLD Davis Select Worldwide ETF 7.6 63 -34 6.5 +0.2
VYMI Vanguard International High Dividend Yield ETF 7.6 32 -3 10.1 +3.8
DWCR Arrow DWA Country Rotation ETF 7.4 95 -66 13.8 +7.5
IXUS ishares Core MSCI Total International Stock ETF 7.3 9 20 7.4 +1.1
IPOS Renaissance International IPO ETF 7.3 80 -51 4.7 -1.6
VXUS Vanguard Total International Stock Index Fund 7.0 8 21 7.5 +1.2
INDA iShares MSCI India ETF 6.9 69 -40 4.9 -1.4
FLIN Franklin FTSE India ETF 6.8 19 10 5.4 -1.0
NFTY First Trust India NIFTY 50 Equal Weight ETF 6.5 80 -51 7.3 +1.0
INDY iShares India 50 ETF 6.5 94 -65 5.3 -1.0

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 Momentum ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.0 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 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.