Invesco S&P Mid Cap 400 Equal Weight
ALTAR
Score™
6.8% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
16.5x P/Sales
ratio
1.0x
P/BV
ratio
1.8x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Mid Cap 400 Equal Weight ETF is an exchange-traded fund incorporated in the USA. The Fund's investment objective is to correspond as closely as possible, before fees and expenses, to the price and yield performance of the S&P Mid Cap 400 Equal Weight Index.

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Dec 08, 2010
Assets (mns) $85
Currency USD
Expense ratio 40 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 401
Wgt avg mkt cap (mns) $4,601
Large cap (>$10bn) 4.0%
Mid cap ($2-10bn) 86.0%
Small cap (<$2bn) 10.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SYNAPTICS INC 0.4 %
BED BATH & BEYOND INC 0.3 %
CIRRUS LOGIC INC 0.3 %
PBF ENERGY INC-CLASS A 0.3 %
SALLY BEAUTY HOLDINGS INC 0.3 %
MURPHY USA, INC. 0.3 %
TECH DATA CORP 0.3 %
SCIENTIFIC GAMES CORP-A 0.3 %
SYNNEX CORP 0.3 %
JABIL CIRCUIT INC 0.3 %
Total 3.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.7 %
BRITAIN 0.9 %
BERMUDA 0.5 %
NETHERLANDS 0.2 %
SWITZERLAND 0.2 %
IRELAND 0.2 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
16.2% 4.8% 6.2% -- 9.9%

Market Correlations
versus... Beta R-squared
S&P500 1.24 81%
MSCI EAFE 1.02 46%
MSCI Emg. Mkts. 0.62 28%

Technical Indicators
Recent close $65.02
30d moving avg. $64.35
Annualized volatility 16.6%
Short interest (ETF) 0.0%
Short interest (Underlying) 6.6%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.2%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $15,052

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P Mid Cap 400 Equal Weight ETF based on the alternatives' overlap in portfolio holdings with EWMC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWMC Expense: 40 bp ALTAR Score™: 6.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWMC
Ticker Fund
Name
Overlap1
vs EWMC
(%)
Expense
ratio
(bp)
Savings
vs EWMC
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWMC
(%)
IJH iShares Core S&P MidCap 79.6 7 33 6.4 -0.4
MDY S&P MidCap 400 SPDR 79.5 24 16 6.2 -0.6
IVOO Vanguard S&P Mid-Cap 400 78.0 15 25 6.3 -0.5
MDYV SPDR S&P400 Mid Cap Value 64.9 15 25 7.6 +0.9
IJJ iShares S&P MidCap 400 Value 64.7 25 15 7.5 +0.8
SPMD SPDR Portfolio Mid Cap 64.2 5 35 6.3 -0.4
IVOV Vanguard S&P Mid-Cap 400 Value 63.5 20 20 7.7 +0.9
RWK Invesco S&P MidCap 400 Revenue ETF 60.5 39 1 8.0 +1.3
MDYG SPDR S&P400 Mid Cap Growth 53.7 15 25 5.1 -1.7
IJK iShares S&P MidCap 400 Growth 53.7 24 16 5.0 -1.8
IVOG Vanguard S&P Mid-Cap 400 Growth 52.6 20 20 5.0 -1.7
EZM WisdomTree Midcap Earnings 51.1 38 2 7.8 +1.1
SFYX SoFi Next 500 46.8 0 40 5.7 -1.1
JHSC John Hancock Multifactor Small Cap 46.0 50 -10 5.8 -1.0
VBR Vanguard Small-Cap Value ETF 44.2 7 33 7.8 +1.1
RNMC First Trust Mid Cap US Equity Select 44.0 60 -20 6.7 -0.1
VB Vanguard Smallcap ETF 42.2 5 35 5.6 -1.1
FNX First Trust Mid Cap Core Alpadex 42.0 62 -22 6.8 0.0
PBSM Invesco PureBeta MSCI USA Small Cap 41.6 6 34 5.2 -1.5
FSMD Fidelity Small-Mid Factor ETF 39.7 29 11 6.5 -0.3

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

Content on this tab for subscribers only

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 Mid Cap 400 Equal Weight
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 12.0 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 6.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 CATEGORY
AVERAGE
1.55
 
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.