Invesco Strategic Developed ex-US Small Company ETF
ALTAR
Score™
5.5% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
27.0x P/Sales
ratio
0.5x
P/BV
ratio
1.1x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ISDS tracks an index of stocks from small firms in developed markets, ex-US. The index determines firm size by fundamental metrics and also screens by quality metrics. Stocks are weighted by firm size. lf

FUND BASICS
Category International Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Sep 12, 2018
Assets (mns) $4
Currency USD
Expense ratio 35 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 971
Wgt avg mkt cap (mns) $2,787
Large cap (>$10bn) 5.3%
Mid cap ($2-10bn) 38.3%
Small cap (<$2bn) 56.5%
Developed mkts 90.4%
Emerging mkts 9.4%

TOP TEN HOLDINGS
ALSO HOLDING AG 0.4 %
HOLMEN AB-B SHARES 0.4 %
NIPPON PAINT CO LTD 0.3 %
NIBE INDUSTRIER AB CLASS B 0.3 %
LOGITECH INTERNATIONAL-REG 0.3 %
KYOWA HAKKO KIRIN CO LTD 0.3 %
TSURUHA HOLDINGS INC 0.3 %
IT HOLDINGS CORP 0.3 %
ADVANTEST CORP 0.3 %
SSR MINING INC 0.3 %
Total 3.2 %

TOP COUNTRY EXPOSURE
JAPAN 38.0 %
BRITAIN 9.0 %
SOUTH KOREA 8.2 %
AUSTRALIA 5.1 %
CANADA 4.1 %
GERMANY 3.7 %
SWITZERLAND 3.4 %
SWEDEN 3.3 %
FRANCE 2.4 %
HONG KONG 1.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.9% -4.8% -- -- -4.3%

Market Correlations
versus... Beta R-squared
S&P500 1.02 90%
MSCI EAFE 1.17 95%
MSCI Emg. Mkts. 0.91 84%

Technical Indicators
Recent close $21.54
30d moving avg. $19.79
Annualized volatility 23.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.5%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $10,660

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco Strategic Developed ex-US Small Company ETF ETF based on the alternatives' overlap in portfolio holdings with ISDS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ISDS Expense: 35 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ISDS
Ticker Fund
Name
Overlap1
vs ISDS
(%)
Expense
ratio
(bp)
Savings
vs ISDS
(bp)
ALTAR
Score™
(%)
ALTAR
vs ISDS
(%)
FNDC Schwab Fundamental International Small Co. Index ETF 42.5 39 -4 7.1 +1.6
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 42.4 49 -14 6.9 +1.4
SCZ iShares MSCI Eafe Small-Cap ETF 27.4 40 -5 6.5 +1.0
GWX SPDR S&P International Small Cap ETF 22.3 40 -5 5.8 +0.3
SCHC Schwab International Small-Cap Equity ETF 21.7 12 23 6.9 +1.4
IEUS iShares MSCI Europe Small-Cap ETF 21.2 40 -5 6.8 +1.3
DDLS WisdomTree Dynamic Currency Hedged Intl SmallCap Equity Fund 21.0 43 -8 8.7 +3.2
DFJ WisdomTree Japan SmallCap Dividend Fund 20.8 58 -23 8.5 +3.0
DXJS WisdomTree Japan Hedged SmallCap Equity Fund 20.8 58 -23 8.4 +2.9
SCJ iShares MSCI Japan Small-Cap ETF 20.7 47 -12 6.5 +1.0
DLS WisdomTree International SmallCap Dividend Fund 19.2 58 -23 8.5 +3.0
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 17.1 11 24 6.3 +0.8
ISCF iShares Edge MSCI Multifactor Intl Small-Cap ETF 16.5 40 -5 8.5 +3.0
AVDV Avantis International Small Cap Value ETF 15.9 36 -1 7.6 +2.1
IDLB Invesco FTSE International Low Beta Equal Weight ETF 14.4 45 -10 7.2 +1.7
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 13.9 80 -45 10.4 +4.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 12.7 39 -4 9.1 +3.6
DIM WisdomTree International MidCap Dividend Fund 11.9 58 -23 7.6 +2.1
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 10.6 24 11 7.2 +1.7
AVDE Avantis International Equity ETF 10.2 23 12 7.9 +2.4
ISZE iShares Edge MSCI Intl Size Factor ETF 10.0 30 5 6.9 +1.4
VPL Vanguard FTSE Pacific ETF 10.0 8 27 7.8 +2.3
EWJE iShares MSCI Japan Equal Weighted ETF 9.4 15 20 7.1 +1.6
IPAC iShares Core MSCI Pacific ETF 9.2 9 26 7.5 +2.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 9.0 39 -4 6.7 +1.2
FLJP Franklin FTSE Japan ETF 8.8 9 26 7.8 +2.3
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 8.8 30 5 7.6 +2.1
FLJH Franklin FTSE Japan Hedged ETF 8.5 9 26 7.7 +2.2
PQIN PGIM QMA Strategic Alpha International Equity ETF 8.4 29 6 8.1 +2.6
DDJP WisdomTree Dynamic Currency Hedged Japan Equity Fund 8.4 43 -8 9.2 +3.7
KLDW Gavekal Knowledge Leaders Developed World ETF 8.1 75 -40 4.8 -0.7
SCID Global X Scientific Beta Europe ETF 8.0 38 -3 6.9 +1.4
IEFA iShares Core MSCI EAFE ETF 7.9 7 28 7.3 +1.8
EWUS iShares MSCI United Kingdom Small Cap ETF 7.9 59 -24 8.1 +2.6
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 7.9 25 10 7.6 +2.1
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 7.9 9 26 7.9 +2.4
JPXN iShares JPX-Nikkei 400 ETF 7.8 48 -13 7.5 +2.0
DDEZ WisdomTree Europe Multifactor Fund 7.5 43 -8 7.2 +1.7
DXJ WisdomTree Japan Hedged Equity Fund 7.5 48 -13 8.3 +2.8
JPIN JPMorgan Diversified Return International Equity ETF 7.4 38 -3 8.0 +2.5
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 7.2 58 -23 7.9 +2.4
IDEV iShares Core MSCI International Developed Markets ETF 7.1 5 30 7.3 +1.8
DFE WisdomTree Europe SmallCap Dividend Fund 7.1 58 -23 8.4 +2.9
FDT First Trust Developed Markets ex-US Alphadex Fund 7.0 80 -45 7.8 +2.3
VEA Vanguard FTSE Developed Markets ETF 6.9 5 30 7.4 +1.9
BBJP JPMorgan BetaBuilders Japan ETF 6.7 19 16 7.7 +2.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 6.6 29 6 8.6 +3.1
IQDG WisdomTree International Quality Dividend Growth Fund 6.5 38 -3 6.4 +0.9
IEUR iShares Core MSCI Europe ETF 6.3 9 26 7.3 +1.8
SPDW SPDR Portfolio Developed World ex-US ETF 6.2 4 31 7.2 +1.7
QJPN SPDR MSCI Japan StrategicFactors ETF 6.2 14 21 8.0 +2.5
EFG iShares MSCI EAFE Growth ETF 6.1 40 -5 4.7 -0.8
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 6.0 58 -23 6.4 +0.9
EWJ iShares MSCI Japan ETF 6.0 49 -14 7.4 +1.9
JPGE JPMorgan Diversified Return Global Equity ETF 5.9 29 6 7.3 +1.8
QINT American Century Quality Diversified International ETF 5.9 39 -4 5.9 +0.4
IXUS ishares Core MSCI Total International Stock ETF 5.9 9 26 7.6 +2.1
DBJP Xtrackers MSCI Japan Hedged Equity ETF 5.9 45 -10 7.4 +1.9
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 5.8 7 28 7.6 +2.1
VGK Vanguard FTSE Europe ETF 5.7 8 27 7.3 +1.8
GSIE Goldman Sachs ActiveBeta International Equity ETF 5.6 25 10 6.8 +1.3
FEU SPDR Portfolio Europe ETF 5.6 9 26 7.3 +1.8
DWM WisdomTree International Equity Fund 5.5 48 -13 8.2 +2.7
SCHF Schwab International Equity ETF 5.4 6 29 7.4 +1.9
VSGX Vanguard ESG International Stock ETF 5.4 17 18 7.4 +1.9
CIL VictoryShares International Volatility Weighted Index ETF 5.3 45 -10 6.7 +1.2
VXUS Vanguard Total International Stock Index Fund 5.3 8 27 7.7 +2.2
SCIJ Global X Scientific Beta Japan ETF 5.3 39 -4 7.2 +1.7
PDEV Principal International Multi-Factor Core Index ETF 5.3 25 10 7.9 +2.4
VIGI Vanguard International Dividend Appreciation ETF 5.2 25 10 5.9 +0.4
EUDG WisdomTree Europe Quality Dividend Growth Fund 5.0 58 -23 6.1 +0.6
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 4.9 48 -13 0.0 -5.5
IMTM iShares Edge MSCI Intl Momentum Factor ETF 4.9 30 5 5.0 -0.5
FEP First Trust Europe AlphaDEX Fund 4.5 80 -45 7.9 +2.4
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 4.4 45 -10 6.8 +1.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 4.4 35 0 8.6 +3.1
IGRO iShares International Dividend Growth ETF 4.4 22 13 8.0 +2.5
DNL WisdomTree Global ex-US Dividend Growth Fund 4.3 58 -23 8.0 +2.5
JHMD John Hancock Multifactor Developed International ETF 4.3 45 -10 7.4 +1.9
DWMF WisdomTree International Multifactor Fund 4.2 38 -3 6.8 +1.3
RFDI First Trust Riverfront Dynamic Developed International ETF 4.2 83 -48 6.3 +0.8
IDMO Invesco S&P International Developed Momentum ETF 4.2 25 10 4.7 -0.8
PIZ Invesco DWA Developed Markets Momentum ETF 4.1 80 -45 4.3 -1.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 4.1 20 15 7.3 +1.8
VEU Vanguard FTSE All-World ex-US Index Fund 4.0 8 27 7.7 +2.2
JPEU JPMorgan Diversified Return Europe Equity ETF 4.0 37 -2 6.8 +1.3
RNDM Developed International Equity Select ETF 4.0 65 -30 6.4 +0.9
HFXI IQ 50 Percent Hedged FTSE International ETF 3.9 20 15 7.5 +2.0
EFA iShares MSCI EAFE ETF 3.9 32 3 7.2 +1.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 3.9 35 0 7.0 +1.5
IQLT iShares Edge MSCI Intl Quality Factor ETF 3.8 30 5 6.2 +0.7
FLKR Franklin FTSE South Korea ETF 3.8 9 26 9.7 +4.2
IDHQ Invesco S&P International Developed High Quality ETF 3.8 29 6 5.4 -0.1
JPMV iShares Edge MSCI Min Vol Japan ETF 3.7 30 5 6.9 +1.4
TPIF Timothy Plan International ETF 3.7 62 -27 7.0 +1.5
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 3.5 30 5 6.8 +1.3
FLEE Franklin FTSE Europe ETF 3.5 9 26 7.0 +1.5
FLEH Franklin FTSE Europe Hedged ETF 3.5 9 26 7.2 +1.7
QEFA SPDR MSCI EAFE Quality Mix ETF 3.5 30 5 6.8 +1.3

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%.

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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 Strategic Developed ex-US Small Company 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 6.2 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 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.