Invesco Strategic Developed ex-US ETF
ALTAR
Score™
7.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
64.3x P/Sales
ratio
0.6x
P/BV
ratio
1.0x Div.
yield
3.3%


  • 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) $240
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 860
Wgt avg mkt cap (mns) $53,066
Large cap (>$10bn) 74.5%
Mid cap ($2-10bn) 21.1%
Small cap (<$2bn) 4.3%
Developed mkts 93.4%
Emerging mkts 6.6%

TOP TEN HOLDINGS
SAMSUNG ELECTRONICS CO LTD 2.0 %
ROYAL DUTCH SHELL PLC-A SHS 2.0 %
TOYOTA MOTOR CORP 1.4 %
VOLKSWAGEN AG-PFD 1.2 %
TOTAL SA 1.2 %
NESTLE SA-REG 1.1 %
DAIMLER AG-REGISTERED SHARES 1.1 %
BP PLC 1.1 %
ENBRIDGE INC 1.0 %
BHP BILLITON LTD 0.9 %
Total 12.8 %

TOP COUNTRY EXPOSURE
JAPAN 21.0 %
CANADA 14.6 %
BRITAIN 13.9 %
GERMANY 8.8 %
FRANCE 8.4 %
SOUTH KOREA 6.3 %
SWITZERLAND 6.0 %
AUSTRALIA 3.7 %
NETHERLANDS 3.7 %
SWEDEN 1.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.4% -6.0% -- -- -0.2%

Market Correlations
versus... Beta R-squared
S&P500 0.99 73%
MSCI EAFE 1.21 86%
MSCI Emg. Mkts. 0.87 69%

Technical Indicators
Recent close $22.47
30d moving avg. $23.10
Annualized volatility 23.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 41

Liquidity measures
Avg. volume (thou.) 16
Turnover 0.2%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $22,188

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 potential alternatives to the Invesco Strategic Developed ex-US ETF 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™: 7.5%


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 International Large Co. Index ETF 70.4 25 -2 8.9 +1.5
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 66.3 45 -22 8.9 +1.4
IQIN IQ 500 International ETF 57.5 25 -2 8.7 +1.3
SCHF Schwab International Equity ETF 50.7 6 17 7.3 -0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 49.7 7 16 7.4 -0.0
HFXI IQ 50 Percent Hedged FTSE International ETF 49.6 20 3 7.4 -0.1
GSID Goldman Sachs MarketBeta International Equity ETF 48.3 20 3 7.3 -0.2
SPDW SPDR Portfolio Developed World ex-US ETF 48.2 4 19 7.1 -0.4
VEA Vanguard FTSE Developed Markets ETF 48.1 5 18 7.4 -0.1
IDEV iShares Core MSCI International Developed Markets ETF 48.0 5 18 7.2 -0.3
EFA iShares MSCI EAFE ETF 47.8 32 -9 7.0 -0.4
BKIE BNY Mellon International Equity ETF 47.2 4 19 7.4 -0.1
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 46.9 35 -12 6.9 -0.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 46.4 39 -16 6.6 -0.8
JHMD John Hancock Multifactor Developed International ETF 46.3 39 -16 7.3 -0.1
IEFA iShares Core MSCI EAFE ETF 45.6 7 16 7.3 -0.2
DWM WisdomTree International Equity Fund 44.9 48 -25 8.3 +0.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 44.4 35 -12 8.6 +1.2
PDEV Principal International Multi-Factor Core Index ETF 44.0 25 -2 7.9 +0.4
EFV iShares MSCI EAFE Value ETF 44.0 39 -16 9.6 +2.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 43.3 20 3 7.0 -0.5
GSIE Goldman Sachs ActiveBeta International Equity ETF 42.6 25 -2 6.7 -0.8
ACWX iShares MSCI ACWI ex U.S. ETF 42.4 32 -9 7.3 -0.1
DOL WisdomTree International LargeCap Dividend Fund 42.0 48 -25 8.7 +1.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 41.6 40 -17 7.1 -0.3
ESGD iShares MSCI EAFE ESG Optimized ETF 41.6 20 3 6.9 -0.5
CWI SPDR MSCI ACWI ex-US ETF 41.0 30 -7 7.3 -0.2
VEU Vanguard FTSE All-World ex-US Index Fund 40.8 8 15 7.6 +0.1
IDY Pacific Global International Equity Income ETF 40.3 39 -16 8.0 +0.6
IQSI IQ Candriam ESG International Equity ETF 40.1 15 8 7.4 -0.0
IXUS ishares Core MSCI Total International Stock ETF 39.8 9 14 7.4 -0.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 39.4 39 -16 8.3 +0.8
QEFA SPDR MSCI EAFE Quality Mix ETF 38.4 30 -7 6.7 -0.7
VXUS Vanguard Total International Stock Index Fund 38.3 8 15 7.6 +0.1
ISZE iShares Edge MSCI Intl Size Factor ETF 38.0 30 -7 7.2 -0.3
FLEE Franklin FTSE Europe ETF 37.7 9 14 7.1 -0.4
BBEU JPMorgan BetaBuilders Europe ETF 37.6 9 14 7.5 +0.1
IEUR iShares Core MSCI Europe ETF 37.3 9 14 7.3 -0.1
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 37.3 35 -12 6.8 -0.6
FLEH Franklin FTSE Europe Hedged ETF 37.2 9 14 7.2 -0.3
AVDE Avantis International Equity ETF 37.1 23 0 7.7 +0.3
IEV iShares Europe ETF 37.0 59 -36 7.0 -0.5
VGK Vanguard FTSE Europe ETF 36.8 8 15 7.5 +0.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 36.7 45 -22 6.8 -0.7
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 36.6 45 -22 6.9 -0.6
CIL VictoryShares International Volatility Weighted Index ETF 36.5 45 -22 6.9 -0.6
FEU SPDR Portfolio Europe ETF 36.2 9 14 7.4 -0.1
VYMI Vanguard International High Dividend Yield ETF 35.8 27 -4 10.2 +2.8
IVLU iShares Edge MSCI Intl Value Factor ETF 35.2 30 -7 11.1 +3.6
VSGX Vanguard ESG International Stock ETF 33.6 17 6 7.1 -0.3
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 31.9 25 -2 6.5 -1.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 31.3 24 -1 6.9 -0.5
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 30.8 14 9 6.8 -0.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 30.6 16 7 6.9 -0.6
PQIN PGIM QMA Strategic Alpha International Equity ETF 30.5 29 -6 7.8 +0.3
DTH WisdomTree DEFA Equity Income Fund 29.0 58 -35 9.9 +2.5
RNDM Developed International Equity Select ETF 28.3 65 -42 6.1 -1.4
VPL Vanguard FTSE Pacific ETF 28.2 8 15 7.4 -0.1
JPIN JPMorgan Diversified Return International Equity ETF 26.8 37 -14 7.8 +0.4
RODM Hartford Multifactor Developed Markets (ex-US) ETF 25.5 29 -6 7.8 +0.3
OEUR O'shares FTSE Europe Quality Dividend ETF 25.2 48 -25 6.9 -0.6
TPIF Timothy Plan International ETF 24.6 62 -39 6.3 -1.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 24.6 45 -22 6.9 -0.6
FIVA Fidelity International Value Factor ETF 24.5 39 -16 10.0 +2.6
SCID Global X Scientific Beta Europe ETF 24.2 39 -16 6.4 -1.0
EURZ Xtrackers Eurozone Equity ETF 24.2 9 14 7.1 -0.4
EZU iShares MSCI Eurozone ETF 24.1 49 -26 6.8 -0.7
IPAC iShares Core MSCI Pacific ETF 24.0 9 14 7.0 -0.4
QINT American Century Quality Diversified International ETF 23.8 39 -16 6.2 -1.3
VGFO Virtus WMC Global Factor Opportunities ETF 23.7 49 -26 8.0 +0.5
UIVM VictoryShares USAA MSCI International Value Momentum ETF 23.7 35 -12 8.6 +1.1
DOO WisdomTree International Dividend ex-Financials Fund 23.5 58 -35 9.0 +1.6
IQLT iShares Edge MSCI Intl Quality Factor ETF 23.4 30 -7 6.1 -1.4
ESGG FlexShares STOXX Global ESG Impact Index Fund 23.3 42 -19 5.5 -1.9
QWLD SPDR MSCI World StrategicFactors ETF 23.0 30 -7 6.2 -1.2
URTH iShares MSCI World ETF 22.8 24 -1 5.9 -1.6
EFG iShares MSCI EAFE Growth ETF 21.6 40 -17 4.5 -3.0
IGRO iShares International Dividend Growth ETF 21.6 22 1 8.4 +1.0
ACWI iShares MSCI ACWI ETF 21.2 32 -9 6.0 -1.4
IDLB Invesco FTSE International Low Beta Equal Weight ETF 20.9 45 -22 6.5 -1.0
RBIN Nationwide Risk-Based International Equity ETF 20.5 42 -19 6.1 -1.4
FLJP Franklin FTSE Japan ETF 20.0 9 14 7.1 -0.3
FLJH Franklin FTSE Japan Hedged ETF 20.0 9 14 7.1 -0.4
LOWC SPDR MSCI ACWI Low Carbon Target ETF 19.8 20 3 6.3 -1.2
LVIN Hartford Multifactor Low Volatility International Equity ETF 19.7 29 -6 11.6 +4.1
BBJP JPMorgan BetaBuilders Japan ETF 19.6 19 4 7.0 -0.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 19.5 20 3 6.3 -1.2
QJPN SPDR MSCI Japan StrategicFactors ETF 19.3 14 9 7.2 -0.3
EWJ iShares MSCI Japan ETF 19.3 49 -26 6.7 -0.8
VT Vanguard Total World Stock Index Fund 19.2 8 15 6.3 -1.1
FDEV Fidelity Targeted International Factor ETF 19.2 39 -16 6.5 -1.0
EFAV iShares Edge MSCI Min Vol EAFE ETF 19.2 20 3 5.3 -2.2
DBJP Xtrackers MSCI Japan Hedged Equity ETF 19.2 45 -22 6.7 -0.8
JPXN iShares JPX-Nikkei 400 ETF 18.5 48 -25 6.7 -0.8
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 18.4 9 14 7.1 -0.3
KOKU Xtrackers MSCI Kokusai Equity ETF 18.3 9 14 6.0 -1.5

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

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.7 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 23 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.58
 
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.