Invesco S&P Int'l Dev. Momentum
ALTAR
Score™
4.6% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
21.4x P/Sales
ratio
2.1x
P/BV
ratio
3.1x Div.
yield
2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P International Developed Momentum Portfolio is based on the S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index, which tracks the performance of stocks in the S&P Developed ex U.S. & South Korea LargeMidCap Index that have the highest momentum score.

FUND BASICS
Category International Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Feb 24, 2012
Assets (mns) $3
Currency USD
Expense ratio 25 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 221
Wgt avg mkt cap (mns) $93,777
Large cap (>$10bn) 87.8%
Mid cap ($2-10bn) 11.9%
Small cap (<$2bn) 0.3%
Developed mkts 99.8%
Emerging mkts 0.3%

TOP TEN HOLDINGS
NESTLE SA-REG 8.2 %
NOVARTIS AG-REG 6.1 %
ROCHE HOLDING AG-GENUSSCHEIN 3.7 %
DIAGEO PLC 2.5 %
ASTRAZENECA PLC 2.4 %
LVMH MOET HENNESSY LOUIS VUI 2.4 %
ALLIANZ SE-REG 2.0 %
IBERDROLA SA 1.8 %
ENEL SPA 1.8 %
ADIDAS AG 1.7 %
Total 32.7 %

TOP COUNTRY EXPOSURE
SWITZERLAND 20.1 %
BRITAIN 14.2 %
CANADA 11.7 %
AUSTRALIA 11.4 %
FRANCE 9.0 %
GERMANY 6.1 %
JAPAN 5.8 %
ITALY 3.6 %
SWEDEN 3.2 %
NETHERLANDS 2.6 %

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.
21.4% 15.3% 1.7% -- 3.5%

Market Correlations
versus... Beta R-squared
S&P500 0.77 59%
MSCI EAFE 0.96 78%
MSCI Emg. Mkts. 0.70 65%

Technical Indicators
Recent close $27.39
30d moving avg. $26.95
Annualized volatility 12.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.0%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $12,165

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P Int'l Dev. Momentum ETF based on the alternatives' overlap in portfolio holdings with IDMO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IDMO Expense: 25 bp ALTAR Score™: 4.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IDMO
Ticker Fund
Name
Overlap1
vs IDMO
(%)
Expense
ratio
(bp)
Savings
vs IDMO
(bp)
ALTAR
Score™
(%)
ALTAR
vs IDMO
(%)
IMTM iShares MSCI Int'l Developed Momentum 54.7 30 -5 5.2 +0.6
EFG iShares MSCI EAFE Growth 37.7 40 -15 4.9 +0.3
IDHQ Invesco Int'l Developed High Quality Portfolio 37.3 29 -4 5.4 +0.8
IQLT iShares MSCI Int'l Developed Quality 36.9 30 -5 6.0 +1.4
IEV iShares S&P Europe 350 30.6 59 -34 6.2 +1.7
BBEU JPMorgan BetaBuilders Europe 30.0 9 16 6.7 +2.1
DBEU Xtrackers Europe Hedged 29.7 45 -20 6.4 +1.8
QEFA SPDR MSCI EAFE Quality Mix 29.3 30 -5 6.5 +1.9
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 29.3 30 -5 6.6 +2.0
FLEH Franklin FTSE Europe Hedged 29.1 9 16 7.2 +2.6
FLEE Franklin FTSE Europe 29.0 9 16 6.8 +2.2
GSEU Goldman Sachs ActiveBeta Europe Equity 28.4 25 0 6.2 +1.6
RFEU First Trust Riverfront Dynamic Europe 28.4 83 -58 6.0 +1.4
EUMV iShares MSCI Europe Min Volatility 27.5 25 0 5.1 +0.6
VIGI Vanguard Int'l Dividend Appreciation 27.3 25 0 5.9 +1.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity 27.1 39 -14 6.1 +1.5
EFAV iShares MSCI EAFE Minimum Volatility 26.8 20 5 5.7 +1.1
IEUR iShares Core MSCI Europe 26.4 9 16 6.7 +2.1
FDEV Fidelity Targeted International Factor 26.3 39 -14 6.8 +2.2
FEU SPDR DJ Stoxx 50 26.1 9 16 6.7 +2.1

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 Int'l Dev. Momentum
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 13.9 %
Divided by: Fwd. P/BV 2.9 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 4.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.67 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.