Invesco Strategic Developed ex-US ETF
ALTAR
Score™
10.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
11.7x P/Sales
ratio
0.5x
P/BV
ratio
1.0x Div.
yield
4.6%


  • 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) $185
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 783
Wgt avg mkt cap (mns) $51,439
Large cap (>$10bn) 73.8%
Mid cap ($2-10bn) 21.9%
Small cap (<$2bn) 4.3%
Developed mkts 93.1%
Emerging mkts 6.9%

TOP TEN HOLDINGS
SAMSUNG ELECTRONICS CO LTD 2.8 %
NESTLE SA-REG 1.7 %
ROCHE HOLDING AG-GENUSSCHEIN 1.4 %
NOVARTIS AG-REG 1.4 %
BP PLC 1.3 %
TOTAL SA 1.3 %
ENBRIDGE INC 1.2 %
CHUBB LIMITED 1.1 %
ROYAL DUTCH SHELL PLC-A SHS 1.1 %
VODAFONE GROUP PLC 1.1 %
Total 14.5 %

TOP COUNTRY EXPOSURE
JAPAN 18.6 %
BRITAIN 16.8 %
CANADA 14.8 %
FRANCE 8.6 %
SWITZERLAND 8.5 %
GERMANY 6.9 %
SOUTH KOREA 6.6 %
AUSTRALIA 3.4 %
NETHERLANDS 3.2 %
SPAIN 2.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-27.8% -21.5% -- -- -13.0%

Market Correlations
versus... Beta R-squared
S&P500 1.10 73%
MSCI EAFE 1.24 84%
MSCI Emg. Mkts. 1.00 76%

Technical Indicators
Recent close $18.04
30d moving avg. $20.60
Annualized volatility 25.6%
Short interest (ETF) 0.2%
Relative strength (RSI) 32

Liquidity measures
Avg. volume (thou.) 78
Turnover 0.8%
Bid/Ask (% of price) 0.36%
ADV underlying (mns) $49,627

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 10.1%


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 63.6 25 -2 11.4 +1.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 59.3 45 -22 11.6 +1.5
IQIN IQ 500 International ETF 53.0 25 -2 11.3 +1.3
SCHF Schwab International Equity ETF 49.7 6 17 9.5 -0.6
HFXI IQ 50 Percent Hedged FTSE International ETF 49.5 20 3 9.5 -0.6
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 48.7 7 16 9.6 -0.5
SPDW SPDR Portfolio Developed World ex-US ETF 48.4 4 19 9.3 -0.8
EFA iShares MSCI EAFE ETF 47.9 32 -9 9.2 -0.9
IDEV iShares Core MSCI International Developed Markets ETF 47.2 5 18 9.4 -0.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 46.9 35 -12 8.9 -1.2
VEA Vanguard FTSE Developed Markets ETF 46.7 5 18 9.7 -0.4
DWM WisdomTree International Equity Fund 45.5 48 -25 10.8 +0.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 45.5 35 -12 11.0 +0.9
IEFA iShares Core MSCI EAFE ETF 44.9 7 16 9.4 -0.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 44.6 39 -16 8.4 -1.7
JHMD John Hancock Multifactor Developed International ETF 44.1 45 -22 9.6 -0.5
DOL WisdomTree International LargeCap Dividend Fund 43.3 48 -25 11.0 +1.0
GSIE Goldman Sachs ActiveBeta International Equity ETF 42.9 25 -2 8.7 -1.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 42.9 20 3 9.2 -0.9
ACWX iShares MSCI ACWI ex U.S. ETF 42.2 32 -9 9.6 -0.5
CWI SPDR MSCI ACWI ex-US ETF 41.6 30 -7 9.5 -0.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 41.1 40 -17 9.2 -0.9
IDY Pacific Global International Equity Income ETF 41.0 39 -16 11.1 +1.0
PDEV Principal International Multi-Factor Core Index ETF 40.9 25 -2 8.6 -1.5
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 40.8 30 -7 8.7 -1.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 40.6 45 -22 8.5 -1.6
IEUR iShares Core MSCI Europe ETF 40.6 9 14 9.3 -0.8
FLEE Franklin FTSE Europe ETF 40.5 9 14 9.0 -1.1
BBEU JPMorgan BetaBuilders Europe ETF 40.5 9 14 9.2 -0.9
FLEH Franklin FTSE Europe Hedged ETF 40.5 9 14 8.9 -1.2
IQSI IQ Candriam ESG International Equity ETF 39.9 15 8 9.3 -0.8
IEV iShares Europe ETF 39.9 59 -36 8.8 -1.3
VEU Vanguard FTSE All-World ex-US Index Fund 39.9 8 15 9.8 -0.3
VGK Vanguard FTSE Europe ETF 39.8 8 15 9.5 -0.6
EFV iShares MSCI EAFE Value ETF 39.1 39 -16 12.7 +2.7
IXUS ishares Core MSCI Total International Stock ETF 38.9 9 14 9.7 -0.4
FEU SPDR Portfolio Europe ETF 38.8 9 14 9.3 -0.8
ESGD iShares MSCI EAFE ESG Optimized ETF 38.7 20 3 9.2 -0.9
VXUS Vanguard Total International Stock Index Fund 38.3 8 15 9.8 -0.3
QEFA SPDR MSCI EAFE Quality Mix ETF 37.6 30 -7 8.3 -1.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 37.6 39 -16 11.9 +1.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 36.9 25 -2 8.5 -1.6
CIL Victory CEMP International Volatility Weighted Index ETF 34.9 45 -22 9.3 -0.8
ISZE iShares Edge MSCI Intl Size Factor ETF 34.7 30 -7 9.2 -0.9
CIZ Victory CEMP Developed Enhanced Volatility Weighted Index ET 34.7 45 -22 9.4 -0.7
IVLU iShares Edge MSCI Intl Value Factor ETF 33.3 30 -7 14.3 +4.2
VYMI Vanguard International High Dividend Yield ETF 33.0 32 -9 12.6 +2.5
VSGX Vanguard ESG International Stock ETF 32.3 17 6 9.3 -0.8
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 31.8 24 -1 9.3 -0.8
DTH WisdomTree DEFA Equity Income Fund 31.3 58 -35 12.6 +2.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 31.2 16 7 8.9 -1.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 31.2 14 9 8.8 -1.3
AVDE Avantis International Equity ETF 30.4 23 0 10.4 +0.3
RFDI First Trust Riverfront Dynamic Developed International ETF 30.0 83 -60 8.1 -2.0
PQIN PGIM QMA Strategic Alpha International Equity ETF 29.6 29 -6 9.5 -0.6
UIVM VictoryShares USAA MSCI International Value Momentum ETF 28.7 35 -12 10.9 +0.8
OEUR O'shares FTSE Europe Quality Dividend ETF 28.5 48 -25 7.8 -2.3
DOO WisdomTree International Dividend ex-Financials Fund 28.5 58 -35 11.1 +1.1
EFG iShares MSCI EAFE Growth ETF 28.3 40 -17 6.0 -4.0
RODM Hartford Multifactor Developed Markets (ex-US) ETF 28.0 29 -6 10.9 +0.8
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 27.9 48 -25 0.0 -10.1
RNDM Developed International Equity Select ETF 27.1 65 -42 8.2 -1.9
IMTM iShares Edge MSCI Intl Momentum Factor ETF 26.9 30 -7 5.9 -4.1
JPEU JPMorgan Diversified Return Europe Equity ETF 26.6 37 -14 8.8 -1.3
TPIF Timothy Plan International ETF 26.6 62 -39 9.0 -1.1
FIVA Fidelity International Value Factor ETF 26.6 39 -16 13.5 +3.4
VPL Vanguard FTSE Pacific ETF 26.3 8 15 10.0 -0.0
RBIN Nationwide Risk-Based International Equity ETF 26.3 42 -19 8.6 -1.5
JPGE JPMorgan Diversified Return Global Equity ETF 26.2 29 -6 9.4 -0.7
JPIN JPMorgan Diversified Return International Equity ETF 25.2 38 -15 10.0 -0.1
SCID Global X Scientific Beta Europe ETF 25.0 38 -15 8.9 -1.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 25.0 30 -7 7.7 -2.4
QINT American Century Quality Diversified International ETF 24.2 39 -16 7.7 -2.4
RFEU First Trust Riverfront Dynamic Europe ETF 24.1 83 -60 6.4 -3.7
ESGG FlexShares STOXX Global ESG Impact Index Fund 23.9 42 -19 7.3 -2.8
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 23.7 45 -22 8.9 -1.1
EFAV iShares Edge MSCI Min Vol EAFE ETF 23.4 20 3 6.8 -3.2
EZU iShares MSCI Eurozone ETF 23.0 49 -26 9.1 -1.0
IDLB Invesco FTSE International Low Beta Equal Weight ETF 22.8 45 -22 8.8 -1.2
URTH iShares MSCI World ETF 22.7 24 -1 7.7 -2.4
QWLD SPDR MSCI World StrategicFactors ETF 22.7 30 -7 7.6 -2.5
EURZ Xtrackers Eurozone Equity ETF 22.6 9 14 9.3 -0.8
EUMV iShares Edge MSCI Min Vol Europe ETF 22.6 25 -2 6.5 -3.6
FDEV Fidelity Targeted International Factor ETF 22.4 39 -16 7.9 -2.2
IGRO iShares International Dividend Growth ETF 22.2 22 1 9.9 -0.2
IPAC iShares Core MSCI Pacific ETF 21.4 9 14 9.5 -0.5
IDMO Invesco S&P International Developed Momentum ETF 21.3 25 -2 5.8 -4.3
DWMF WisdomTree International Multifactor Fund 21.2 38 -15 8.4 -1.7
LVIN Hartford Multifactor Low Volatility International Equity ETF 20.8 29 -6 15.0 +4.9
ACWI iShares MSCI ACWI ETF 20.8 32 -9 8.0 -2.1
FDT First Trust Developed Markets ex-US Alphadex Fund 20.5 80 -57 11.5 +1.5
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 20.2 32 -9 7.8 -2.3
IDHQ Invesco S&P International Developed High Quality ETF 20.0 29 -6 6.7 -3.4
VIGI Vanguard International Dividend Appreciation ETF 19.7 25 -2 7.3 -2.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 19.4 20 3 8.3 -1.8
LOWC SPDR MSCI ACWI Low Carbon Target ETF 19.3 20 3 8.3 -1.8
TOK iShares MSCI Kokusai ETF 19.2 25 -2 7.5 -2.6
VT Vanguard Total World Stock Index Fund 18.9 8 15 8.2 -1.8
IDLV Invesco S&P International Developed Low Volatility ETF 18.3 25 -2 8.1 -1.9

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 9.9 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 23 bp
Equals: ALTAR Score 10.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 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.