Invesco S&P Intl Developed High Div Low Volatility
ALTAR
Score™
6.3% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
15.8x P/Sales
ratio
1.5x
P/BV
ratio
1.3x Div.
yield
5.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P International Developed High Dividend Low Volatility ETF tracks a dividend-yield-weighted index of the 100 least volatile stocks chosen from a list of the 300 highest-yielding developed ex-US stocks.

FUND BASICS
Category International Equities
Fund Sponsor Invesco PowerShares
Website www.invesco.com
Inception date Dec 01, 2016
Assets (mns) $14
Currency USD
Expense ratio 30 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Dividend
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $28,693
Large cap (>$10bn) 60.1%
Mid cap ($2-10bn) 39.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SPARK NEW ZEALAND LIMITED 1.6 %
STOCKLAND 1.4 %
BRITISH LAND CO PLC 1.4 %
GAS NATURAL SDG SA 1.3 %
LAND SECURITIES GROUP PLC 1.3 %
JAPAN TOBACCO INC 1.3 %
VICINITY CENTRES 1.3 %
NATIONAL GRID PLC 1.3 %
WESFARMERS LIMITED 1.3 %
EDP-ENERGIAS DE PORTUGAL SA 1.2 %
Total 13.4 %

TOP COUNTRY EXPOSURE
JAPAN 15.9 %
AUSTRALIA 15.8 %
SINGAPORE 11.9 %
BRITAIN 11.6 %
FRANCE 6.9 %
SPAIN 6.1 %
ITALY 5.8 %
GERMANY 4.4 %
SWITZERLAND 4.3 %
HONG KONG 4.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
13.8% 10.3% -- -- 8.2%

Market Correlations
versus... Beta R-squared
S&P500 0.50 50%
MSCI EAFE 0.71 81%
MSCI Emg. Mkts. 0.53 75%

Technical Indicators
Recent close $28.48
30d moving avg. $28.45
Annualized volatility 8.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.4%
Bid/Ask (% of price) 0.81%
ADV underlying (mns) $6,148

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P Intl Developed High Div Low Volatility ETF based on the alternatives' overlap in portfolio holdings with IDHD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IDHD Expense: 30 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IDHD
Ticker Fund
Name
Overlap1
vs IDHD
(%)
Expense
ratio
(bp)
Savings
vs IDHD
(bp)
ALTAR
Score™
(%)
ALTAR
vs IDHD
(%)
IDLV Invesco S&P Int'l Developed Low Volatility 36.2 25 5 6.3 -0.0
HDMV First Trust Horizon Managed Volatility Developed Int'l 33.6 80 -50 6.0 -0.3
DOO WisdomTree Int'l Dividend Ex-Financials 29.9 58 -28 8.0 +1.7
DTH WisdomTree DEFA Equity Income 27.5 58 -28 8.5 +2.1
EFAV iShares MSCI EAFE Minimum Volatility 27.4 20 10 5.8 -0.6
CID Victory CEMP International High Div Volatility Wtd 25.7 45 -15 8.8 +2.4
FGD First Trust DJ Global Select Dividend 24.7 58 -28 9.2 +2.8
LVHI Legg Mason International Low Volatility High Dividend 24.1 40 -10 9.3 +3.0
EFV iShares MSCI EAFE Value 24.0 38 -8 8.9 +2.6
EUMV iShares MSCI Europe Min Volatility 23.4 25 5 5.2 -1.2
IDY Pacific Global International Equity Income 22.8 39 -9 8.2 +1.8
HDEF Xtrackers MSCI EAFE High Div Yld Hedged 22.8 20 10 8.6 +2.3
DOL WisdomTree Int'l Large Cap Dividend 22.7 48 -18 7.7 +1.3
IDV iShares DJ Int'l Select Dividend 22.0 49 -19 8.4 +2.1
SCIX Global X Scientific Beta Asia ex-Japan 21.4 38 -8 6.1 -0.2
RBIN Nationwide Risk-Based International Equity 20.3 42 -12 7.3 +0.9
VYMI Vanguard Int'l High Dividend Yield 19.7 32 -2 9.2 +2.9
RIDV Invesco International Ultra Dividend Revenue ETF 19.3 42 -12 9.0 +2.7
RNDM First Trust Developed International Equity Select 19.2 65 -35 6.3 0.0
MVIN Natixis Seeyond International Minimum Volatility 19.0 55 -25 6.1 -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%.

Content on this tab for subscribers only**

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 Intl Developed High Div Low Volatility
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 8.6 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.81 CATEGORY
AVERAGE
1.63
 
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.