Invesco S&P International Developed Quality ETF
ALTAR
Score™		 4.8% info Recommen-
dation		 AVOID
2020E    2021E
P/E
ratio		 24.7x P/Sales
ratio		 2.6x
P/BV
ratio		 3.5x Div.
yield		 2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
IDHQ is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the price and yield of the S&P International Developed High Quality Ranking Index, which is constructed using a QSG proprietary methodology based on numerous measures of expected outperformance.

FUND BASICS
Category International Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jun 13, 2007
Assets (mns) $111
Currency USD
Expense ratio 29 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Fundamental
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 236
Wgt avg mkt cap (mns) $82,034
Large cap (>$10bn) 86.9%
Mid cap ($2-10bn) 12.5%
Small cap (<$2bn) 0.4%
Developed mkts 98.1%
Emerging mkts 1.9%

TOP TEN HOLDINGS
NESTLE SA-REG 4.6 %
NOVARTIS AG-REG 4.5 %
ROCHE HOLDING AG-GENUSSCHEIN 4.3 %
ASML HOLDING NV 4.0 %
NOVO NORDISK A/S-B 3.0 %
DIAGEO PLC 2.3 %
CSL LIMITED 2.3 %
UNILEVER NV 2.1 %
BHP BILLITON LTD 1.9 %
DAIICHI SANKYO CO LTD 1.7 %
Total 30.7 %

TOP COUNTRY EXPOSURE
JAPAN 26.4 %
SWITZERLAND 15.4 %
BRITAIN 11.0 %
AUSTRALIA 9.4 %
NETHERLANDS 8.1 %
DENMARK 4.8 %
CANADA 4.6 %
FRANCE 3.7 %
FINLAND 2.3 %
SWEDEN 2.3 %

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.
-1.6% 4.1% 6.7% 6.2% 1.9%

Market Correlations
versus... Beta R-squared
S&P500 0.75 80%
MSCI EAFE 0.86 87%
MSCI Emg. Mkts. 0.60 65%

Technical Indicators
Recent close $27.72
30d moving avg. $26.71
Annualized volatility 15.0%
Short interest (ETF) 0.2%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 31
Turnover 0.8%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $11,905

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco S&P International Developed Quality ETF ETF based on the alternatives' overlap in portfolio holdings with IDHQ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IDHQ Expense: 29 bp ALTAR Score™: 4.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IDHQ
Ticker Fund
Name		 Overlap1
vs IDHQ
(%)		 Expense
ratio
(bp)		 Savings
vs IDHQ
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs IDHQ
(%)
IQLT iShares Edge MSCI Intl Quality Factor ETF 51.7 30 -1 5.6 +0.8
EFG iShares MSCI EAFE Growth ETF 41.1 40 -11 4.3 -0.5
IQDG WisdomTree International Quality Dividend Growth Fund 34.1 42 -13 6.1 +1.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 34.1 58 -29 6.0 +1.2
RESD WisdomTree International ESG Fund 33.9 30 -1 6.4 +1.6
QEFA SPDR MSCI EAFE Quality Mix ETF 33.7 30 -1 6.3 +1.6
IMTM iShares Edge MSCI Intl Momentum Factor ETF 33.6 30 -1 4.3 -0.5
VIGI Vanguard International Dividend Appreciation ETF 32.8 20 9 5.2 +0.4
OEUR O'shares FTSE Europe Quality Dividend ETF 32.5 48 -19 6.6 +1.8
RFDI First Trust Riverfront Dynamic Developed International ETF 32.3 83 -54 5.2 +0.4
RFEU First Trust Riverfront Dynamic Europe ETF 31.8 83 -54 5.6 +0.9
IDMO Invesco S&P International Developed Momentum ETF 31.1 26 3 3.9 -0.9
DMXF iShares ESG Advanced MSCI EAFE ETF 29.0 12 17 6.4 +1.7
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 28.8 14 15 6.4 +1.6
IQSI IQ Candriam ESG International Equity ETF 28.4 15 14 6.9 +2.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 28.3 20 9 6.6 +1.8
DOL WisdomTree International LargeCap Dividend Fund 28.1 48 -19 8.5 +3.7
BKIE BNY Mellon International Equity ETF 27.9 4 25 6.8 +2.1
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 27.7 32 -3 5.8 +1.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 27.5 58 -29 5.5 +0.7
GSID Goldman Sachs MarketBeta International Equity ETF 27.3 20 9 6.8 +2.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 27.3 35 -6 6.4 +1.7
IEV iShares Europe ETF 27.2 59 -30 6.4 +1.7
EFA iShares MSCI EAFE ETF 27.2 32 -3 6.5 +1.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 26.8 25 4 6.3 +1.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 26.6 45 -16 6.3 +1.5
ESGD iShares MSCI EAFE ESG Optimized ETF 26.6 20 9 6.4 +1.6
BBEU JPMorgan BetaBuilders Europe ETF 26.4 9 20 6.9 +2.1
QINT American Century Quality Diversified International ETF 26.4 39 -10 6.0 +1.2
HFXI IQ 50 Percent Hedged FTSE International ETF 26.2 20 9 6.9 +2.1
CIL VictoryShares International Volatility Weighted Index ETF 25.9 45 -16 6.5 +1.7
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 25.8 35 -6 6.3 +1.5
EUDG WisdomTree Europe Quality Dividend Growth Fund 25.7 58 -29 5.8 +1.0
FLEH Franklin FTSE Europe Hedged ETF 25.7 9 20 6.7 +1.9
JHMD John Hancock Multifactor Developed International ETF 25.5 39 -10 6.8 +2.0
FLEE Franklin FTSE Europe ETF 25.5 9 20 6.6 +1.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 25.5 25 4 6.1 +1.3
JIG JPMorgan International Growth ETF 25.1 55 -26 2.9 -1.9
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 25.0 7 22 6.9 +2.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 24.9 35 -6 8.3 +3.5
IPAC iShares Core MSCI Pacific ETF 24.8 9 20 6.6 +1.8
RBIN Nationwide Risk-Based International Equity ETF 24.7 42 -13 6.1 +1.3
FDEV Fidelity Targeted International Factor ETF 24.7 39 -10 6.2 +1.5
DBJP Xtrackers MSCI Japan Hedged Equity ETF 24.6 45 -16 6.5 +1.7
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 24.6 9 20 6.9 +2.1
IQDF FlexShares International Quality Dividend Index Fund 24.4 47 -18 8.4 +3.6
DWM WisdomTree International Equity Fund 24.4 48 -19 8.1 +3.3
PDEV Principal International Multi-Factor Core Index ETF 24.4 25 4 7.3 +2.5
BBJP JPMorgan BetaBuilders Japan ETF 24.3 19 10 6.7 +1.9
JPXN iShares JPX-Nikkei 400 ETF 24.3 48 -19 6.5 +1.7
EWJ iShares MSCI Japan ETF 24.3 49 -20 6.4 +1.6
SCHF Schwab International Equity ETF 24.0 6 23 6.8 +2.0
FLJH Franklin FTSE Japan Hedged ETF 23.8 9 20 6.9 +2.1
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 23.8 45 -16 6.5 +1.7
FLJP Franklin FTSE Japan ETF 23.8 9 20 6.9 +2.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 23.6 39 -10 6.1 +1.3
IEFA iShares Core MSCI EAFE ETF 23.6 7 22 6.7 +2.0
IEUR iShares Core MSCI Europe ETF 23.4 9 20 6.8 +2.0
QJPN SPDR MSCI Japan StrategicFactors ETF 23.2 14 15 6.9 +2.1
NUDM Nuveen ESG International Developed Markets Equity ETF 23.1 40 -11 6.2 +1.4
VGK Vanguard FTSE Europe ETF 22.9 8 21 6.9 +2.2
FEU SPDR Portfolio Europe ETF 22.9 9 20 6.9 +2.1
IDY Pacific Global International Equity Income ETF 22.6 39 -10 8.7 +3.9
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 22.4 25 4 6.6 +1.8
IDEV iShares Core MSCI International Developed Markets ETF 22.4 5 24 6.7 +1.9
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 22.4 61 -32 4.9 +0.1
SPDW SPDR Portfolio Developed World ex-US ETF 22.4 4 25 6.5 +1.8
EFAV iShares Edge MSCI Min Vol EAFE ETF 22.0 20 9 5.1 +0.4
TPIF Timothy Plan International ETF 21.8 62 -33 6.1 +1.4
IGRO iShares International Dividend Growth ETF 21.6 22 7 7.7 +2.9
VEA Vanguard FTSE Developed Markets ETF 21.3 5 24 6.9 +2.1
VPL Vanguard FTSE Pacific ETF 21.1 8 21 6.8 +2.1
DWMF WisdomTree International Multifactor Fund 20.7 38 -9 6.2 +1.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 20.5 47 -18 8.5 +3.7
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 20.2 24 5 6.7 +1.9
VSGX Vanguard ESG International Stock ETF 20.1 17 12 6.7 +1.9
VGFO Virtus WMC Global Factor Opportunities ETF 19.2 49 -20 7.6 +2.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 18.9 16 13 6.4 +1.6
PQIN PGIM QMA Strategic Alpha International Equity ETF 18.9 29 0 7.3 +2.6
JPIN JPMorgan Diversified Return International Equity ETF 18.8 37 -8 7.3 +2.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 18.6 40 -11 6.6 +1.8
IQDE FlexShares International Quality Dividend Defensive Index Fd 18.6 47 -18 8.4 +3.6
ACWX iShares MSCI ACWI ex U.S. ETF 18.5 32 -3 6.7 +2.0
CWI SPDR MSCI ACWI ex-US ETF 18.2 30 -1 6.7 +1.9
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 17.9 83 -54 5.2 +0.5
ISZE iShares Edge MSCI Intl Size Factor ETF 17.7 30 -1 6.6 +1.8
EUDV ProShares MSCI Europe Dividend Growers ETF 17.4 58 -29 5.6 +0.8
VEU Vanguard FTSE All-World ex-US Index Fund 17.3 8 21 7.0 +2.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 17.1 29 0 7.3 +2.6
IDLB Invesco FTSE International Low Beta Equal Weight ETF 16.7 45 -16 6.2 +1.4
EZU iShares MSCI Eurozone ETF 16.6 49 -20 6.1 +1.3
RNDM Developed International Equity Select ETF 16.6 65 -36 5.8 +1.0
IDLV Invesco S&P International Developed Low Volatility ETF 16.5 25 4 6.2 +1.5
ISDX Invesco Strategic Developed ex-US ETF 16.2 23 6 6.6 +1.8
INTF iShares Edge MSCI Multifactor Intl ETF 16.2 30 -1 7.6 +2.8
IXUS ishares Core MSCI Total International Stock ETF 16.2 9 20 6.9 +2.1
IXJ iShares Global Healthcare ETF 16.1 46 -17 6.4 +1.6
PIZ Invesco DWA Developed Markets Momentum ETF 16.0 81 -52 4.4 -0.4
EURZ Xtrackers Eurozone Equity ETF 15.8 9 20 6.5 +1.7

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 S&P International Developed Quality ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.4 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.59 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.