Invesco S&P International Developed Low Volatility ETF
ALTAR
Score™
6.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
19.3x P/Sales
ratio
1.0x
P/BV
ratio
1.3x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P International Developed Low Volatility Portfolio is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that generally correspond (before fees and expenses) to the price and yield of the S&P BMI International Developed Low Volatility Index (the "Underlying Index").

FUND BASICS
Category International Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jan 13, 2012
Assets (mns) $846
Currency USD
Expense ratio 25 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Volatility
Index replication n/a
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 201
Wgt avg mkt cap (mns) $31,404
Large cap (>$10bn) 64.4%
Mid cap ($2-10bn) 34.0%
Small cap (<$2bn) 1.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HK ELECTRIC INVESTMENTS -SS 1.0 %
SOFTBANK CORP. 0.7 %
KONE OYJ-B 0.7 %
GIVAUDAN-REG 0.7 %
NESTLE SA-REG 0.7 %
NINTENDO CO LTD 0.7 %
SCHINDLER HOLDING AG PREF 0.7 %
HONG KONG EXCHANGES & CLEAR 0.6 %
AUSNET SERVICES 0.6 %
ITOCHU CORP 0.6 %
Total 6.9 %

TOP COUNTRY EXPOSURE
JAPAN 47.4 %
HONG KONG 7.4 %
SWITZERLAND 6.0 %
GERMANY 5.3 %
BRITAIN 5.3 %
SINGAPORE 4.1 %
FRANCE 3.4 %
SWEDEN 3.1 %
NETHERLANDS 2.8 %
AUSTRALIA 2.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.4% -9.8% 4.0% -- 4.9%

Market Correlations
versus... Beta R-squared
S&P500 0.64 68%
MSCI EAFE 0.77 82%
MSCI Emg. Mkts. 0.52 61%

Technical Indicators
Recent close $29.06
30d moving avg. $28.65
Annualized volatility 13.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 364
Turnover 1.3%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $7,886

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: IDLV Expense: 25 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IDLV
Ticker Fund
Name
Overlap1
vs IDLV
(%)
Expense
ratio
(bp)
Savings
vs IDLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs IDLV
(%)
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 43.3 80 -55 6.4 -0.1
RBIN Nationwide Risk-Based International Equity ETF 39.5 42 -17 6.0 -0.5
EFAV iShares Edge MSCI Min Vol EAFE ETF 39.2 20 5 5.4 -1.2
DWMF WisdomTree International Multifactor Fund 37.3 38 -13 6.2 -0.4
JPMV iShares Edge MSCI Min Vol Japan ETF 31.4 30 -5 6.2 -0.3
QEFA SPDR MSCI EAFE Quality Mix ETF 31.4 30 -5 6.7 +0.2
RNDM Developed International Equity Select ETF 30.9 65 -40 6.2 -0.4
RODM Hartford Multifactor Developed Markets (ex-US) ETF 29.4 29 -4 7.6 +1.0
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 29.1 32 -7 5.9 -0.7
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 27.8 30 -5 0.0 -6.6
SCIJ Global X Scientific Beta Japan ETF 27.5 40 -15 6.8 +0.2
VGFO Virtus WMC Global Factor Opportunities ETF 27.1 49 -24 7.9 +1.3
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 26.5 30 -5 8.4 +1.9
PQIN PGIM QMA Strategic Alpha International Equity ETF 26.1 29 -4 7.4 +0.9
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 26.0 45 -20 6.5 -0.0
TPIF Timothy Plan International ETF 25.9 62 -37 6.1 -0.4
CIL VictoryShares International Volatility Weighted Index ETF 25.9 45 -20 6.6 -0.0
MVIN Natixis Seeyond International Minimum Volatility ETF 25.8 56 -31 5.5 -1.0
DOL WisdomTree International LargeCap Dividend Fund 25.5 48 -23 8.6 +2.0
JHMD John Hancock Multifactor Developed International ETF 25.4 39 -14 7.2 +0.7
ESGD iShares MSCI EAFE ESG Optimized ETF 25.3 20 5 6.8 +0.2
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 25.3 25 0 7.1 +0.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 24.9 35 -10 8.5 +1.9
IDY Pacific Global International Equity Income ETF 24.7 39 -14 7.9 +1.3
GSID Goldman Sachs MarketBeta International Equity ETF 24.7 20 5 7.1 +0.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 24.4 25 0 6.6 0.0
EFA iShares MSCI EAFE ETF 24.3 32 -7 6.9 +0.3
BKIE BNY Mellon International Equity ETF 24.2 4 21 7.3 +0.7
HFXI IQ 50 Percent Hedged FTSE International ETF 24.1 20 5 7.3 +0.7
DWM WisdomTree International Equity Fund 24.1 48 -23 8.2 +1.6
JPIN JPMorgan Diversified Return International Equity ETF 24.1 37 -12 7.7 +1.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 24.0 20 5 6.9 +0.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 23.9 35 -10 6.7 +0.2
EWJE iShares MSCI Japan Equal Weighted ETF 23.8 15 10 7.1 +0.5
IPAC iShares Core MSCI Pacific ETF 23.6 9 16 7.1 +0.6
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 23.5 35 -10 6.8 +0.2
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 23.4 9 16 7.5 +0.9
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 23.4 30 -5 0.0 -6.6
QJPN SPDR MSCI Japan StrategicFactors ETF 23.2 14 11 7.4 +0.8
FLJP Franklin FTSE Japan ETF 23.1 9 16 7.4 +0.8
FLJH Franklin FTSE Japan Hedged ETF 23.1 9 16 7.4 +0.8
BBJP JPMorgan BetaBuilders Japan ETF 23.0 19 6 7.2 +0.7
EWJ iShares MSCI Japan ETF 23.0 49 -24 6.9 +0.3
JPXN iShares JPX-Nikkei 400 ETF 23.0 48 -23 7.0 +0.4
DBJP Xtrackers MSCI Japan Hedged Equity ETF 22.9 45 -20 7.0 +0.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 22.8 7 18 7.4 +0.8
FDEV Fidelity Targeted International Factor ETF 22.7 39 -14 6.3 -0.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 22.6 14 11 6.8 +0.2
IQSI IQ Candriam ESG International Equity ETF 22.3 15 10 7.2 +0.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 22.2 39 -14 6.4 -0.1
IEFA iShares Core MSCI EAFE ETF 22.0 7 18 7.1 +0.6
SCHF Schwab International Equity ETF 21.9 6 19 7.2 +0.6
PDEV Principal International Multi-Factor Core Index ETF 21.6 25 0 7.7 +1.1
IDEV iShares Core MSCI International Developed Markets ETF 20.6 5 20 7.1 +0.5
SPDW SPDR Portfolio Developed World ex-US ETF 20.6 4 21 7.0 +0.4
VPL Vanguard FTSE Pacific ETF 20.5 8 17 7.4 +0.9
FNDF Schwab Fundamental International Large Co. Index ETF 20.3 25 0 8.6 +2.1
EFG iShares MSCI EAFE Growth ETF 20.2 40 -15 4.4 -2.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 20.1 45 -20 8.7 +2.1
IMTM iShares Edge MSCI Intl Momentum Factor ETF 19.9 30 -5 4.3 -2.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 19.7 45 -20 7.0 +0.4
IQIN IQ 500 International ETF 19.7 25 0 8.5 +1.9
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 19.7 24 1 7.0 +0.4
EFV iShares MSCI EAFE Value ETF 19.5 39 -14 9.5 +2.9
VEA Vanguard FTSE Developed Markets ETF 19.5 5 20 7.3 +0.7
IQLT iShares Edge MSCI Intl Quality Factor ETF 19.2 30 -5 5.9 -0.7
CWI SPDR MSCI ACWI ex-US ETF 19.0 30 -5 7.1 +0.5
EWJV iShares MSCI Japan Value ETF 19.0 15 10 10.0 +3.4
UIVM VictoryShares USAA MSCI International Value Momentum ETF 18.9 35 -10 8.5 +2.0
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 18.5 25 0 6.3 -0.3
ISDX Invesco Strategic Developed ex-US ETF 17.9 23 2 7.2 +0.6
ACWX iShares MSCI ACWI ex U.S. ETF 17.7 32 -7 7.2 +0.6
SCID Global X Scientific Beta Europe ETF 17.6 39 -14 6.3 -0.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 17.5 40 -15 7.0 +0.4
IDHQ Invesco S&P International Developed Quality ETF 17.3 29 -4 4.9 -1.6
VEU Vanguard FTSE All-World ex-US Index Fund 16.8 8 17 7.5 +0.9
LVHI Legg Mason International Low Volatility High Dividend ETF 16.8 40 -15 9.2 +2.7
ACWV iShares Edge MSCI Min Vol Global ETF 16.8 20 5 5.7 -0.9
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 16.7 16 9 6.8 +0.3
VSGX Vanguard ESG International Stock ETF 16.7 17 8 7.0 +0.5
LVIN Hartford Multifactor Low Volatility International Equity ETF 16.7 29 -4 11.4 +4.8
VYMI Vanguard International High Dividend Yield ETF 16.6 27 -2 10.1 +3.5
IEV iShares Europe ETF 16.6 59 -34 6.7 +0.1
BBEU JPMorgan BetaBuilders Europe ETF 16.5 9 16 7.2 +0.6
IVLU iShares Edge MSCI Intl Value Factor ETF 16.4 30 -5 11.3 +4.7
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 16.4 30 -5 0.0 -6.6
DTH WisdomTree DEFA Equity Income Fund 16.3 58 -33 9.7 +3.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 16.2 45 -20 6.5 -0.1
FLEE Franklin FTSE Europe ETF 16.1 9 16 6.8 +0.3
ISZE iShares Edge MSCI Intl Size Factor ETF 16.0 30 -5 7.1 +0.5
OEUR O'shares FTSE Europe Quality Dividend ETF 15.9 48 -23 6.5 -0.0
FLEH Franklin FTSE Europe Hedged ETF 15.9 9 16 7.0 +0.4
IXUS ishares Core MSCI Total International Stock ETF 15.9 9 16 7.3 +0.7
NUDM Nuveen ESG International Developed Markets Equity ETF 15.9 40 -15 6.6 +0.0
DIM WisdomTree International MidCap Dividend Fund 15.6 58 -33 7.4 +0.9
QINT American Century Quality Diversified International ETF 15.5 39 -14 6.0 -0.5
IEUR iShares Core MSCI Europe ETF 15.4 9 16 7.1 +0.5
IQDF FlexShares International Quality Dividend Index Fund 15.4 47 -22 8.9 +2.4
FEU SPDR Portfolio Europe ETF 15.2 9 16 7.1 +0.5

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 Low Volatility ETF
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 25 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.73 CATEGORY
AVERAGE
1.59
 
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.