Invesco Strategic Developed ex-US ETF
ALTAR
Score™
7.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
42.0x P/Sales
ratio
0.6x
P/BV
ratio
1.0x 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) $215
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 861
Wgt avg mkt cap (mns) $50,789
Large cap (>$10bn) 73.3%
Mid cap ($2-10bn) 22.4%
Small cap (<$2bn) 4.3%
Developed mkts 94.0%
Emerging mkts 6.0%

TOP TEN HOLDINGS
ROYAL DUTCH SHELL PLC-A SHS 2.5 %
SAMSUNG ELECTRONICS CO LTD 1.8 %
BP PLC 1.4 %
TOTAL SA 1.3 %
TOYOTA MOTOR CORP 1.3 %
VOLKSWAGEN AG-PFD 1.1 %
NESTLE SA-REG 1.1 %
ENBRIDGE INC 1.1 %
SUNCOR ENERGY INC 1.0 %
BHP BILLITON LTD 0.9 %
Total 13.5 %

TOP COUNTRY EXPOSURE
JAPAN 20.3 %
BRITAIN 14.7 %
CANADA 14.4 %
FRANCE 8.5 %
GERMANY 8.4 %
SWITZERLAND 6.0 %
SOUTH KOREA 5.7 %
AUSTRALIA 3.8 %
NETHERLANDS 3.6 %
SPAIN 1.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.6% -17.2% -- -- -2.5%

Market Correlations
versus... Beta R-squared
S&P500 1.02 74%
MSCI EAFE 1.22 85%
MSCI Emg. Mkts. 0.92 74%

Technical Indicators
Recent close $22.24
30d moving avg. $22.01
Annualized volatility 25.0%
Short interest (ETF) 0.1%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 18
Turnover 0.2%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $83,513

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™: 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 69.2 25 -2 8.7 +1.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 65.2 45 -22 8.8 +1.3
IQIN IQ 500 International ETF 57.3 25 -2 8.9 +1.4
SCHF Schwab International Equity ETF 50.7 6 17 7.3 -0.2
HFXI IQ 50 Percent Hedged FTSE International ETF 49.9 20 3 7.4 -0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 49.5 7 16 7.5 -0.0
SPDW SPDR Portfolio Developed World ex-US ETF 48.2 4 19 7.1 -0.4
BKIE BNY Mellon International Equity ETF 48.1 4 19 7.4 -0.1
GSID Goldman Sachs MarketBeta International Equity ETF 48.0 20 3 7.3 -0.2
VEA Vanguard FTSE Developed Markets ETF 47.8 5 18 7.4 -0.1
EFA iShares MSCI EAFE ETF 47.7 32 -9 7.0 -0.5
IDEV iShares Core MSCI International Developed Markets ETF 47.6 5 18 7.2 -0.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 47.3 35 -12 6.8 -0.7
JHMD John Hancock Multifactor Developed International ETF 46.7 39 -16 7.4 -0.1
IEFA iShares Core MSCI EAFE ETF 45.5 7 16 7.2 -0.3
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 44.8 35 -12 8.4 +0.9
DWM WisdomTree International Equity Fund 44.8 48 -25 8.2 +0.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 44.5 39 -16 6.6 -0.9
EFV iShares MSCI EAFE Value ETF 44.2 39 -16 9.4 +1.9
PDEV Principal International Multi-Factor Core Index ETF 44.0 25 -2 7.9 +0.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 43.0 25 -2 6.6 -1.0
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 42.7 20 3 7.0 -0.5
ACWX iShares MSCI ACWI ex U.S. ETF 42.2 32 -9 7.2 -0.3
DOL WisdomTree International LargeCap Dividend Fund 42.2 48 -25 8.4 +0.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 41.5 40 -17 7.0 -0.5
IDY Pacific Global International Equity Income ETF 41.1 39 -16 7.9 +0.4
VEU Vanguard FTSE All-World ex-US Index Fund 41.0 8 15 7.5 +0.0
CWI SPDR MSCI ACWI ex-US ETF 40.7 30 -7 7.1 -0.4
ESGD iShares MSCI EAFE ESG Optimized ETF 40.7 20 3 6.9 -0.6
IQSI IQ Candriam ESG International Equity ETF 39.8 15 8 7.2 -0.3
IXUS ishares Core MSCI Total International Stock ETF 39.6 9 14 7.3 -0.2
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 39.4 39 -16 8.3 +0.8
VXUS Vanguard Total International Stock Index Fund 39.2 8 15 7.5 +0.0
QEFA SPDR MSCI EAFE Quality Mix ETF 38.1 30 -7 6.8 -0.7
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 38.0 30 -7 6.8 -0.7
FLEH Franklin FTSE Europe Hedged ETF 38.0 9 14 7.0 -0.5
ISZE iShares Edge MSCI Intl Size Factor ETF 38.0 30 -7 7.4 -0.2
FLEE Franklin FTSE Europe ETF 38.0 9 14 6.9 -0.6
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 37.8 35 -12 6.8 -0.7
BBEU JPMorgan BetaBuilders Europe ETF 37.7 9 14 7.2 -0.3
IEUR iShares Core MSCI Europe ETF 37.4 9 14 7.2 -0.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 37.2 45 -22 6.5 -1.0
IEV iShares Europe ETF 37.2 59 -36 6.7 -0.8
VGK Vanguard FTSE Europe ETF 36.8 8 15 7.3 -0.2
CIL VictoryShares International Volatility Weighted Index ETF 36.2 45 -22 6.7 -0.8
FEU SPDR Portfolio Europe ETF 36.2 9 14 7.3 -0.2
IVLU iShares Edge MSCI Intl Value Factor ETF 35.2 30 -7 11.3 +3.8
VYMI Vanguard International High Dividend Yield ETF 34.4 32 -9 10.0 +2.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 33.2 24 -1 7.2 -0.3
AVDE Avantis International Equity ETF 32.9 23 0 7.9 +0.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 32.8 25 -2 6.4 -1.1
VSGX Vanguard ESG International Stock ETF 31.8 17 6 7.2 -0.4
PQIN PGIM QMA Strategic Alpha International Equity ETF 30.7 29 -6 7.6 +0.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 30.5 14 9 6.9 -0.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 30.5 16 7 6.9 -0.6
DTH WisdomTree DEFA Equity Income Fund 30.0 58 -35 9.6 +2.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 28.4 29 -6 8.7 +1.2
RNDM Developed International Equity Select ETF 27.9 65 -42 6.3 -1.2
VPL Vanguard FTSE Pacific ETF 27.8 8 15 7.7 +0.2
JPGE JPMorgan Diversified Return Global Equity ETF 27.2 29 -6 7.5 -0.0
JPEU JPMorgan Diversified Return Europe Equity ETF 26.7 37 -14 7.0 -0.5
JPIN JPMorgan Diversified Return International Equity ETF 26.6 37 -14 7.9 +0.4
OEUR O'shares FTSE Europe Quality Dividend ETF 26.1 48 -25 6.5 -1.0
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 25.1 45 -22 6.8 -0.7
UIVM VictoryShares USAA MSCI International Value Momentum ETF 25.0 35 -12 8.7 +1.2
FIVA Fidelity International Value Factor ETF 24.7 39 -16 10.0 +2.5
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 24.4 45 -22 6.7 -0.8
ESGG FlexShares STOXX Global ESG Impact Index Fund 24.4 42 -19 5.4 -2.1
EURZ Xtrackers Eurozone Equity ETF 24.2 9 14 7.0 -0.5
SCID Global X Scientific Beta Europe ETF 24.1 39 -16 6.4 -1.1
TPIF Timothy Plan International ETF 24.0 62 -39 6.3 -1.3
DOO WisdomTree International Dividend ex-Financials Fund 24.0 58 -35 8.7 +1.2
EZU iShares MSCI Eurozone ETF 23.9 49 -26 6.5 -1.0
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 23.8 30 -7 0.0 -7.5
QINT American Century Quality Diversified International ETF 23.7 39 -16 5.7 -1.8
IPAC iShares Core MSCI Pacific ETF 23.6 9 14 7.3 -0.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 23.2 30 -7 6.0 -1.5
URTH iShares MSCI World ETF 23.1 24 -1 5.6 -1.9
QWLD SPDR MSCI World StrategicFactors ETF 23.1 30 -7 6.1 -1.4
IDLB Invesco FTSE International Low Beta Equal Weight ETF 22.7 45 -22 7.2 -0.4
IGRO iShares International Dividend Growth ETF 22.3 22 1 8.0 +0.5
ACWI iShares MSCI ACWI ETF 21.5 32 -9 5.8 -1.7
EFG iShares MSCI EAFE Growth ETF 21.0 40 -17 4.5 -3.0
LVIN Hartford Multifactor Low Volatility International Equity ETF 20.6 29 -6 12.1 +4.6
RBIN Nationwide Risk-Based International Equity ETF 20.3 42 -19 6.4 -1.1
RFDI First Trust Riverfront Dynamic Developed International ETF 20.3 83 -60 5.6 -1.9
LOWC SPDR MSCI ACWI Low Carbon Target ETF 19.8 20 3 6.0 -1.5
FLJH Franklin FTSE Japan Hedged ETF 19.7 9 14 7.7 +0.2
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 19.7 30 -7 7.4 -0.1
FLJP Franklin FTSE Japan ETF 19.7 9 14 7.7 +0.2
VT Vanguard Total World Stock Index Fund 19.7 8 15 6.1 -1.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 19.7 20 3 6.1 -1.4
EFAV iShares Edge MSCI Min Vol EAFE ETF 19.4 20 3 5.4 -2.1
BBJP JPMorgan BetaBuilders Japan ETF 19.2 19 4 7.5 +0.0
QJPN SPDR MSCI Japan StrategicFactors ETF 18.9 14 9 7.7 +0.2
FDEV Fidelity Targeted International Factor ETF 18.9 39 -16 6.5 -1.0
EWJ iShares MSCI Japan ETF 18.9 49 -26 7.2 -0.3
DBJP Xtrackers MSCI Japan Hedged Equity ETF 18.7 45 -22 7.3 -0.2
KOKU Xtrackers MSCI Kokusai Equity ETF 18.7 9 14 5.7 -1.8

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 7.8 %
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
1.54 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.