Invesco RAFI Strategic Developed ex-US ETF
ALTAR
Score™
6.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
62.4x P/Sales
ratio
0.7x
P/BV
ratio
1.2x Div.
yield
2.7%


  • 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) $293
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 856
Wgt avg mkt cap (mns) $63,988
Large cap (>$10bn) 77.9%
Mid cap ($2-10bn) 18.6%
Small cap (<$2bn) 3.3%
Developed mkts 92.3%
Emerging mkts 7.7%

TOP TEN HOLDINGS
SAMSUNG ELECTRONICS CO LTD 2.5 %
ROYAL DUTCH SHELL PLC-A SHS 2.4 %
TOTAL SA 1.2 %
DAIMLER AG-REGISTERED SHARES 1.2 %
TOYOTA MOTOR CORP 1.2 %
VOLKSWAGEN AG-PFD 1.2 %
BP PLC 1.2 %
BHP BILLITON LTD 1.0 %
BHP BILLITON PLC 1.0 %
ENBRIDGE INC 0.9 %
Total 13.8 %

TOP COUNTRY EXPOSURE
JAPAN 19.3 %
BRITAIN 14.8 %
CANADA 14.7 %
GERMANY 8.9 %
SOUTH KOREA 8.0 %
FRANCE 7.9 %
SWITZERLAND 5.8 %
AUSTRALIA 3.9 %
NETHERLANDS 3.2 %
SWEDEN 1.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
6.8% 6.8% -- -- 9.4%

Market Correlations
versus... Beta R-squared
S&P500 1.09 75%
MSCI EAFE 1.21 89%
MSCI Emg. Mkts. 0.96 68%

Technical Indicators
Recent close $28.26
30d moving avg. $27.70
Annualized volatility 26.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 16
Turnover 0.2%
Bid/Ask (% of price) 0.19%
ADV underlying (mns) $62,811

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the Invesco RAFI 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™: 6.3%


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
(%)
DFAI Dimensional International Core Equity Market ETF 73.9 18 5 6.4 +0.1
FNDF Schwab Fundamental International Large Co. Index ETF 69.6 25 -2 7.7 +1.4
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 66.0 45 -22 7.7 +1.4
IQIN IQ 500 International ETF 56.3 25 -2 7.7 +1.4
SCHF Schwab International Equity ETF 49.8 6 17 6.5 +0.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 49.2 7 16 6.5 +0.3
HFXI IQ 50 Percent Hedged FTSE International ETF 49.0 20 3 6.4 +0.2
VEA Vanguard FTSE Developed Markets ETF 47.1 5 18 6.6 +0.3
SPDW SPDR Portfolio Developed World ex-US ETF 46.7 4 19 6.2 -0.1
IDEV iShares Core MSCI International Developed Markets ETF 46.6 5 18 6.5 +0.2
GSID Goldman Sachs MarketBeta International Equity ETF 46.2 20 3 6.3 +0.0
EFA iShares MSCI EAFE ETF 46.1 32 -9 6.2 -0.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 46.1 39 -16 5.6 -0.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 45.8 35 -12 6.1 -0.2
BKIE BNY Mellon International Equity ETF 45.6 4 19 6.6 +0.3
IEFA iShares Core MSCI EAFE ETF 44.3 7 16 6.5 +0.2
JHMD John Hancock Multifactor Developed International ETF 44.3 39 -16 6.6 +0.3
EFV iShares MSCI EAFE Value ETF 42.7 39 -16 8.4 +2.2
PDEV Principal International Multi-Factor Core Index ETF 41.5 25 -2 7.1 +0.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 41.2 20 3 6.4 +0.1
ACWX iShares MSCI ACWI ex U.S. ETF 40.9 32 -9 6.3 +0.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 40.7 40 -17 6.1 -0.2
ESGD iShares MSCI EAFE ESG Optimized ETF 40.2 20 3 6.2 -0.1
GSIE Goldman Sachs ActiveBeta International Equity ETF 40.1 25 -2 6.0 -0.3
IQSI IQ Candriam ESG International Equity ETF 39.8 15 8 6.4 +0.1
CWI SPDR MSCI ACWI ex-US ETF 39.1 30 -7 6.2 -0.1
VEU Vanguard FTSE All-World ex-US Index Fund 38.9 8 15 6.7 +0.4
IXUS ishares Core MSCI Total International Stock ETF 38.4 9 14 6.4 +0.1
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 38.2 39 -16 7.4 +1.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 38.1 40 -17 7.2 +0.9
DWM WisdomTree International Equity Fund 37.4 48 -25 7.2 +0.9
IVLU iShares Edge MSCI Intl Value Factor ETF 37.3 30 -7 10.0 +3.7
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 37.1 35 -12 6.0 -0.3
ISZE iShares Edge MSCI Intl Size Factor ETF 36.8 30 -7 6.3 +0.0
FLEE Franklin FTSE Europe ETF 36.7 9 14 6.5 +0.2
FLEH Franklin FTSE Europe Hedged ETF 36.7 9 14 6.5 +0.2
AVDE Avantis International Equity ETF 36.7 23 0 6.9 +0.6
BBEU JPMorgan BetaBuilders Europe ETF 36.5 9 14 6.7 +0.4
IEUR iShares Core MSCI Europe ETF 36.3 9 14 6.6 +0.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 36.2 45 -22 6.0 -0.3
VGK Vanguard FTSE Europe ETF 35.9 8 15 6.8 +0.5
IEV iShares Europe ETF 35.9 59 -36 6.3 -0.0
CIL VictoryShares International Volatility Weighted Index ETF 35.6 45 -22 6.4 +0.1
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 35.6 45 -22 6.4 +0.1
VYMI Vanguard International High Dividend Yield ETF 35.3 27 -4 9.0 +2.7
SPEU SPDR Portfolio Europe ETF 35.1 9 14 6.8 +0.5
QEFA SPDR MSCI EAFE Quality Mix ETF 35.1 30 -7 6.0 -0.3
VSGX Vanguard ESG International Stock ETF 34.4 17 6 6.3 +0.0
DOL WisdomTree International LargeCap Dividend Fund 34.3 48 -25 7.2 +0.9
VXUS Vanguard Total International Stock ETF 32.8 8 15 6.6 +0.3
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 31.5 24 -1 6.5 +0.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 29.7 25 -2 5.9 -0.4
PQIN PGIM QMA Strategic Alpha International Equity ETF 29.4 29 -6 7.1 +0.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 28.8 16 7 6.0 -0.3
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 28.7 14 9 6.1 -0.2
VPL Vanguard FTSE Pacific ETF 28.3 8 15 6.4 +0.1
DMXF iShares ESG Advanced MSCI EAFE ETF 25.8 12 11 6.2 -0.1
JPIN JPMorgan Diversified Return International Equity ETF 25.8 37 -14 7.0 +0.7
TPIF Timothy Plan International ETF 25.7 62 -39 6.1 -0.2
RNDM First Trust Developed International Equity Select ETF 24.3 65 -42 5.7 -0.6
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 24.0 45 -22 6.0 -0.3
EURZ Xtrackers Eurozone Equity ETF 23.0 9 14 6.6 +0.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 23.0 29 -6 7.3 +1.0
EZU iShares MSCI Eurozone ETF 22.9 51 -28 6.0 -0.3
UIVM VictoryShares USAA MSCI International Value Momentum ETF 22.7 35 -12 7.7 +1.4
URTH iShares MSCI World ETF 22.6 24 -1 5.0 -1.3
FIVA Fidelity International Value Factor ETF 22.6 39 -16 8.8 +2.5
IPAC iShares Core MSCI Pacific ETF 22.6 9 14 6.3 -0.0
QINT American Century Quality Diversified International ETF 22.5 39 -16 5.7 -0.6
ESGG FlexShares STOXX Global ESG Impact Index Fund 22.5 42 -19 4.6 -1.7
RESD WisdomTree International ESG Fund 22.2 30 -7 6.5 +0.2
DTH WisdomTree International High Dividend Fund 21.5 58 -35 8.8 +2.5
VWID Virtus WMC International Dividend ETF 21.3 49 -26 7.4 +1.1
QWLD SPDR MSCI World StrategicFactors ETF 21.1 30 -7 5.4 -0.9
ACWI iShares MSCI ACWI ETF 21.0 32 -9 5.0 -1.3
RBIN Nationwide Risk-Based International Equity ETF 20.2 42 -19 6.0 -0.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 19.8 45 -22 6.1 -0.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 19.8 20 3 5.3 -1.0
EFG iShares MSCI EAFE Growth ETF 19.7 40 -17 4.1 -2.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 19.6 30 -7 5.2 -1.1
LOWC SPDR MSCI ACWI Low Carbon Target ETF 19.4 20 3 5.3 -1.0
VT Vanguard Total World Stock ETF 19.3 8 15 5.3 -1.0
FLJP Franklin FTSE Japan ETF 18.6 9 14 6.5 +0.2
FLJH Franklin FTSE Japan Hedged ETF 18.6 9 14 6.5 +0.2
RODE Hartford Multifactor Diversified International ETF 18.3 29 -6 10.5 +4.2
BBJP JPMorgan BetaBuilders Japan ETF 18.1 19 4 6.4 +0.1
KOKU Xtrackers MSCI Kokusai Equity ETF 18.1 9 14 5.0 -1.3
DOO WisdomTree International Dividend ex-Financials Fund 18.0 58 -35 7.7 +1.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 17.9 47 -24 8.2 +1.9
ZJPN SPDR Solactive Japan ETF 17.9 14 9 6.5 +0.2
DGT SPDR Global Dow ETF 17.9 50 -27 6.3 +0.0
TOK iShares MSCI Kokusai ETF 17.8 25 -2 4.9 -1.4
EWJ iShares MSCI Japan ETF 17.5 51 -28 6.0 -0.3
DBJP Xtrackers MSCI Japan Hedged Equity ETF 17.4 45 -22 6.1 -0.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 17.2 9 14 5.1 -1.2
FDEV Fidelity Targeted International Factor ETF 17.0 39 -16 6.2 -0.1
JPXN iShares JPX-Nikkei 400 ETF 16.8 48 -25 6.2 -0.1

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 RAFI 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 1.2 x
Less: Expense ratio 23 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.54
 
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.