Invesco Strategic Developed ex-US
ALTAR
Score™
7.7% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
14.1x P/Sales
ratio
0.7x
P/BV
ratio
1.3x Div.
yield
3.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ISDX tracks an index of stocks from large 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) $250
Currency USD
Expense ratio 23 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 794
Wgt avg mkt cap (mns) $56,224
Large cap (>$10bn) 78.5%
Mid cap ($2-10bn) 18.1%
Small cap (<$2bn) 3.4%
Developed mkts 93.5%
Emerging mkts 6.5%

TOP TEN HOLDINGS
SAMSUNG ELECTRONICS CO LTD 2.3 %
BP PLC 1.5 %
ROYAL DUTCH SHELL PLC-A SHS 1.4 %
VOLKSWAGEN AG-PFD 1.3 %
TOTAL SA 1.3 %
NESTLE SA-REG 1.2 %
VODAFONE GROUP PLC 1.2 %
ENBRIDGE INC 1.1 %
CHUBB LIMITED 1.1 %
NOVARTIS AG-REG 1.1 %
Total 13.6 %

TOP COUNTRY EXPOSURE
JAPAN 17.2 %
BRITAIN 17.1 %
CANADA 16.8 %
FRANCE 8.4 %
GERMANY 7.4 %
SWITZERLAND 7.4 %
SOUTH KOREA 6.1 %
AUSTRALIA 3.6 %
NETHERLANDS 3.3 %
SPAIN 2.0 %

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.
15.5% 9.4% -- -- 9.4%

Market Correlations
versus... Beta R-squared
S&P500 0.95 53%
MSCI EAFE 1.43 72%
MSCI Emg. Mkts. 1.08 61%

Technical Indicators
Recent close $25.47
30d moving avg. $25.47
Annualized volatility 21.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.1%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $36,750

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco Strategic Developed ex-US ETF based on the alternatives' overlap in portfolio holdings with ISDX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ISDX Expense: 23 bp ALTAR Score™: 7.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ISDX
Ticker Fund
Name
Overlap1
vs ISDX
(%)
Expense
ratio
(bp)
Savings
vs ISDX
(bp)
ALTAR
Score™
(%)
ALTAR
vs ISDX
(%)
FNDF Schwab Fundamental Intl Large Cap 62.5 25 -2 7.5 -0.2
PXF Invesco FTSE-RAFI Developed ex-US 58.1 45 -22 8.1 +0.4
IQIN IQ 500 International 51.6 25 -2 8.3 +0.7
SCHF Schwab International Equity 48.6 6 17 7.3 -0.3
HFXI IQ 50 Percent Hedged FTSE Int'l 47.6 20 3 7.3 -0.4
SPDW SPDR Portfolio World ex-US 47.4 4 19 7.1 -0.6
PBDM Invesco PureBeta FTSE Developed ex-North America 47.1 7 16 7.5 -0.2
REFA Invesco International Revenue ETF 47.0 42 -19 8.7 +1.0
EFA iShares MSCI EAFE 46.5 31 -8 6.9 -0.8
IDEV iShares Core MSCI Int'l Developed Markets 46.3 5 18 7.1 -0.6
DBEF Xtrackers MSCI EAFE Hedged 45.8 35 -12 6.9 -0.8
VEA Vanguard Europe Pacific 45.6 5 18 7.3 -0.4
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity 45.0 39 -16 6.2 -1.5
DDWM WisdomTree Dynamic Currency Hedged Int'l Equity 44.3 35 -12 7.9 +0.2
DWM WisdomTree DEFA Fund 44.0 48 -25 7.6 -0.1
IEFA iShares Core MSCI EAFE 43.6 7 16 7.0 -0.7
JHMD John Hancock Multifactor Developed International 42.8 45 -22 7.1 -0.5
EFAX SPDR MSCI EAFE Fossil Fuel Free 42.0 20 3 7.0 -0.7
ACWX iShares MSCI ACWI ex-US 41.9 31 -8 7.3 -0.3
GSIE Goldman Sachs ActiveBeta Int'l Equity 41.5 25 -2 6.5 -1.2

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

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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 Strategic Developed ex-US
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.0 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 23 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 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.