Invesco S&P Small Cap 600 Equal Weight
ALTAR
Score™
5.8% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
20.1x P/Sales
ratio
0.5x
P/BV
ratio
1.2x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Small Cap 600 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 Small Cap 600 Equal Weight Index.

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Dec 08, 2010
Assets (mns) $30
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 601
Wgt avg mkt cap (mns) $1,312
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 21.5%
Small cap (<$2bn) 78.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
REALOGY HOLDINGS CORP 0.3 %
ARROWHEAD PHARMACEUTICALS, INC. 0.3 %
OFFICE DEPOT INC 0.2 %
INOGEN INC 0.2 %
ULTRA CLEAN HOLDINGS 0.2 %
VISTA OUTDOOR INC 0.2 %
HIBBETT SPORTS INC 0.2 %
KOPPERS HOLDINGS INC 0.2 %
GREEN PLAINS RENEWABLE ENERG 0.2 %
RE/MAX HOLDINGS INC-CL A 0.2 %
Total 2.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.0 %
BERMUDA 0.6 %
PUERTO RICO 0.5 %
CAYMAN ISLANDS 0.4 %
BRITAIN 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.
13.2% -0.3% 4.7% -- 7.3%

Market Correlations
versus... Beta R-squared
S&P500 1.30 65%
MSCI EAFE 0.99 32%
MSCI Emg. Mkts. 0.52 15%

Technical Indicators
Recent close $54.18
30d moving avg. $54.19
Annualized volatility 19.4%
Short interest (ETF) 0.0%
Short interest (Underlying) 7.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.2%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $7,609

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P Small Cap 600 Equal Weight ETF based on the alternatives' overlap in portfolio holdings with EWSC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: EWSC Expense: 40 bp ALTAR Score™: 5.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EWSC
Ticker Fund
Name
Overlap1
vs EWSC
(%)
Expense
ratio
(bp)
Savings
vs EWSC
(bp)
ALTAR
Score™
(%)
ALTAR
vs EWSC
(%)
SLY SPDR S&P 600 Small Cap 73.7 15 25 6.2 +0.4
IJR iShares Core S&P Small-Cap 73.7 7 33 6.2 +0.4
VIOO Vanguard S&P Small-Cap 600 71.3 15 25 6.0 +0.2
SLYV SPDR S&P600 Small Cap Value 60.5 15 25 7.5 +1.7
IJS iShares S&P 600 SmallCap Value 60.4 25 15 7.4 +1.6
VIOV Vanguard S&P Small-Cap 600 Value 58.9 20 20 7.4 +1.6
RWJ Invesco S&P SmallCap 600 Revenue ETF 58.5 39 1 5.0 -0.8
IJT iShares S&P 600 SmallCap Growth 49.2 25 15 4.6 -1.2
SLYG SPDR S&P600 Small Cap Growth 49.1 15 25 4.7 -1.1
VIOG Vanguard S&P Small-Cap 600 Growth 47.6 20 20 4.6 -1.2
ISMD Inspire Small/Mid Cap Impact 46.2 61 -21 4.8 -1.0
JPSE JPMorgan Diversified Return U.S. Small Cap Equity 44.3 29 11 5.0 -0.8
CSF Compass EMP US Discovery 500 Enhanced Vol. 43.2 35 5 7.3 +1.5
CSA Victory CEMP US Small Cap Volatility Wtd 43.2 35 5 7.3 +1.5
EES WisdomTree SmallCap Earnings 40.0 38 2 9.4 +3.6
PRFZ Invesco FTSE-RAFI Small-Mid 1500 39.5 39 1 4.8 -1.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity 39.3 20 20 5.9 +0.1
FYX First Trust Small Cap Core Alphadex 38.7 66 -26 5.8 -0.0
IWM iShares Russell 2000 36.8 19 21 3.8 -2.0
IWN iShares Russell 2000 Value 35.9 24 16 6.6 +0.8

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

  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 Small Cap 600 Equal Weight
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 7.2 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 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.