Invesco S&P Emg Mkts Momentum
ALTAR
Score™
7.6% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
13.1x P/Sales
ratio
1.5x
P/BV
ratio
1.7x Div.
yield
3.2%


  • 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 30 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 180
Wgt avg mkt cap (mns) $41,223
Large cap (>$10bn) 64.1%
Mid cap ($2-10bn) 32.1%
Small cap (<$2bn) 2.8%
Developed mkts 3.5%
Emerging mkts 96.5%

TOP TEN HOLDINGS
GAZPROM OAO 5.6 %
PING AN INSURANCE GROUP CO-H 5.1 %
ISHARES MSCI SAUDI ARABIA CAPPED 4.4 %
LUKOIL OAO 3.1 %
NATIONAL BANK OF KUWAIT 2.8 %
BANK CENTRAL ASIA PT 2.5 %
MMC NORILSK NICKEL OJSC 2.5 %
BANCO BRADESCO SA-PREF 2.4 %
BM&FBOVESPA SA 2.4 %
ITAU UNIBANCO HOLDING SA 2.3 %
Total 33.2 %

TOP COUNTRY EXPOSURE
BRAZIL 27.2 %
RUSSIA 13.8 %
TAIWAN 12.2 %
CHINA 10.7 %
INDIA 7.0 %
INDONESIA 4.8 %
SOUTH AFRICA 4.8 %
KUWAIT 3.2 %
THAILAND 2.7 %
HONG KONG 1.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
21.2% 21.2% 2.1% -- -0.3%

Market Correlations
versus... Beta R-squared
S&P500 0.64 30%
MSCI EAFE 0.90 50%
MSCI Emg. Mkts. 0.85 75%

Technical Indicators
Recent close $17.93
30d moving avg. $17.66
Annualized volatility 14.1%
Short interest (ETF) 0.1%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.6%
Bid/Ask (% of price) 0.83%
ADV underlying (mns) $4,684

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P Emg Mkts Momentum 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: 30 bp ALTAR Score™: 7.6%


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
(%)
FLLA Franklin FTSE Latin America 26.8 19 11 5.7 -1.9
FLBR Franklin FTSE Brazil 26.5 19 11 5.1 -2.5
EWZ iShares MSCI Brazil 25.9 59 -29 4.8 -2.8
JPEM JPMorgan Diversified Rtn Emg Mkt Equity 23.7 45 -15 8.5 +0.9
GEM Goldman Sachs ActiveBeta Emg Mkts Equity 22.2 45 -15 8.5 +0.9
PXH Invesco FTSE-RAFI Emerging Markets 21.9 50 -20 11.8 +4.2
UEVM USAA MSCI Emerging Markets Value Momentum Blend Index 20.8 45 -15 12.7 +5.1
BKF iShares MSCI BRIC 20.8 67 -37 7.9 +0.3
KEMX KraneShares MSCI Emerging Markets EX China Index 19.2 49 -19 8.2 +0.6
PBEE Invesco PureBeta FTSE Emerging Markets 19.0 14 16 8.6 +1.1
EELV Invesco S&P Emg Mkts Low Volatility 18.1 29 1 10.4 +2.8
RFEM First Trust Riverfront Dynamic Emerging Markets 18.1 95 -65 9.7 +2.1
EMXC iShares MSCI Emerging Markets ex China 17.7 49 -19 8.1 +0.5
ESGE iShares MSCI EM ESG Optimized 17.4 25 5 8.8 +1.2
FEM First Trust Emerging Markets AlphaDEX 17.3 80 -50 10.1 +2.5
EWEM Invesco MSCI Emerging Market Equal Weight 17.0 70 -40 8.6 +1.0
PIE Invesco DWA Emg. Mkts. Technical Leaders 16.9 90 -60 4.8 -2.8
MXDE Nationwide Maximum Diversification Emg Mkts Core 16.7 64 -34 5.2 -2.4
EMGF iShares Edge MSCI Multifactor Emerging Markets 16.5 45 -15 9.3 +1.7
SCHE Schwab Emerging Markets Equity 16.2 13 17 8.1 +0.5

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 Emg Mkts Momentum
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 12.7 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.48
 
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.