Invesco MSCI Emerging Markets Equal Country Weight ETF
ALTAR
Score™
8.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
11.2x P/Sales
ratio
1.2x
P/BV
ratio
1.3x Div.
yield
3.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco MSCI Emerging Markets Equal Weight ETF is an exchange-traded fund incorporated in the USA. The Fund's investment objective is to correspond, before fees and expenses, to the price and yield performance of the MSCI Emerging Markets Equal Weighted Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Dec 08, 2010
Assets (mns) $9
Currency USD
Expense ratio 70 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Tiered
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 994
Wgt avg mkt cap (mns) $31,430
Large cap (>$10bn) 45.6%
Mid cap ($2-10bn) 48.3%
Small cap (<$2bn) 5.5%
Developed mkts 7.5%
Emerging mkts 91.5%

TOP TEN HOLDINGS
ISHARES MSCI SAUDI ARABIA CAPPED 3.9 %
COMMERCIAL INTERNATIONAL BAN 3.3 %
CREDICORP LTD 2.6 %
OTP BANK PLC 2.4 %
GLOBANT SA 2.0 %
CEZ AS 1.7 %
QATAR NATIONAL BANK 1.6 %
TAIWAN SEMICONDUCTOR MANUFAC 1.6 %
SAMSUNG ELECTRONICS CO LTD 1.3 %
OIL & GAS DEVELOPMENT CO LTD 1.3 %
Total 21.7 %

TOP COUNTRY EXPOSURE
TAIWAN 4.3 %
MEXICO 4.1 %
COLOMBIA 4.0 %
SOUTH KOREA 4.0 %
TURKEY 4.0 %
EGYPT 3.9 %
CHILE 3.9 %
HUNGARY 3.9 %
INDONESIA 3.8 %
BRAZIL 3.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.6% -3.0% 1.6% -- -1.2%

Market Correlations
versus... Beta R-squared
S&P500 0.68 38%
MSCI EAFE 1.00 68%
MSCI Emg. Mkts. 0.86 87%

Technical Indicators
Recent close $31.29
30d moving avg. $31.68
Annualized volatility 13.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 44

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.3%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $38,938

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco MSCI Emerging Markets Equal Country Weight ETF ETF based on the alternatives' overlap in portfolio holdings with EWEM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWEM Expense: 70 bp ALTAR Score™: 8.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWEM
Ticker Fund
Name
Overlap1
vs EWEM
(%)
Expense
ratio
(bp)
Savings
vs EWEM
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWEM
(%)
EMEM Virtus Glovista Emerging Markets 43.0 67 3 8.9 +0.5
EMXC iShares MSCI Emerging Markets ex China 40.4 49 21 8.1 -0.4
PBEE Invesco PureBeta FTSE Emerging Markets 39.3 14 56 8.5 +0.1
DBEM Xtrackers MSCI Emg. Mkts. Hedged 38.4 65 5 7.7 -0.7
EEM iShares MSCI Emerging Markets 38.0 68 2 7.7 -0.7
IEMG iShares Core MSCI Emerging Markets 36.1 14 56 8.1 -0.3
KEMX KraneShares MSCI Emerging Markets EX China Index 34.9 49 21 7.9 -0.5
REEM Invesco Emerging Markets Revenue ETF 32.4 46 24 11.0 +2.6
SCHE Schwab Emerging Markets Equity 31.1 13 57 7.9 -0.5
JHEM John Hancock Multifactor Emerging Markets 30.6 55 15 8.4 -0.1
GEM Goldman Sachs ActiveBeta Emg Mkts Equity 30.1 45 25 8.5 +0.1
VWO Vanguard Emerging Markets 29.3 10 60 8.0 -0.4
QEMM SPDR MSCI Emerging Markets Quality Mix 29.2 30 40 8.6 +0.2
TLTE FlexShares Mngstr Emerging Markets Factor Tilt 28.9 59 11 12.7 +4.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 28.4 30 40 7.8 -0.6
EMFM Global X MSCI Next Emerging & Frontier 27.9 55 15 7.3 -1.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity 27.8 20 50 7.3 -1.1
XSOE WisdomTree Emg Mkt ex-SOE 26.7 32 38 6.5 -1.9
PXH Invesco FTSE-RAFI Emerging Markets 25.8 50 20 11.8 +3.4
DVEM WisdomTree Emerging Markets Dividend 25.7 32 38 11.0 +2.6

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 MSCI Emerging Markets Equal Country Weight 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 11.9 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 8.4 %
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.