Invesco Strategic Emerging Markets ETF
ALTAR
Score™
10.7% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
13.2x P/Sales
ratio
0.4x
P/BV
ratio
0.8x Div.
yield
3.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
ISEM tracks an index of stocks from large firms in emerging markets. The index determines firm size by fundamental metrics and also screens by quality metrics. Stocks are weighted by firm size.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Sep 12, 2018
Assets (mns) $21
Currency USD
Expense ratio 35 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 400
Wgt avg mkt cap (mns) $100,462
Large cap (>$10bn) 66.5%
Mid cap ($2-10bn) 26.1%
Small cap (<$2bn) 4.3%
Developed mkts 8.5%
Emerging mkts 91.5%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.1 %
PETROCHINA CO LTD-H 5.3 %
CHINA PETROLEUM & CHEMICAL-H 4.2 %
CHINA LIFE INSURANCE CO-H 3.4 %
PING AN INSURANCE GROUP CO-H 2.9 %
TAIWAN SEMICONDUCTOR MANUFAC 2.9 %
JD.COM INC-ADR 2.5 %
PETROBRAS - PETROLEO BRAS-PR 2.2 %
INFOSYS TECHNOLOGIES-SP ADR 2.1 %
GAZPROM OAO 1.8 %
Total 34.4 %

TOP COUNTRY EXPOSURE
CHINA 51.2 %
TAIWAN 10.8 %
BRAZIL 10.0 %
RUSSIA 6.0 %
HONG KONG 4.4 %
INDIA 4.0 %
MEXICO 3.7 %
SOUTH AFRICA 2.5 %
THAILAND 1.0 %
MALAYSIA 0.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-9.6% 2.9% -- -- 1.0%

Market Correlations
versus... Beta R-squared
S&P500 0.86 70%
MSCI EAFE 1.02 78%
MSCI Emg. Mkts. 0.87 89%

Technical Indicators
Recent close $24.13
30d moving avg. $24.12
Annualized volatility 21.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.4%
Bid/Ask (% of price) 0.23%
ADV underlying (mns) $9,287

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco Strategic Emerging Markets ETF ETF based on the alternatives' overlap in portfolio holdings with ISEM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ISEM Expense: 35 bp ALTAR Score™: 10.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ISEM
Ticker Fund
Name
Overlap1
vs ISEM
(%)
Expense
ratio
(bp)
Savings
vs ISEM
(bp)
ALTAR
Score™
(%)
ALTAR
vs ISEM
(%)
PXH Invesco FTSE RAFI Emerging Markets ETF 42.2 50 -15 13.6 +2.9
PBEE Invesco PureBeta FTSE Emerging Markets ETF 37.8 15 20 8.7 -2.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 35.5 39 -4 13.1 +2.5
SCHE Schwab Emerging Markets Equity ETF 35.5 11 24 8.0 -2.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 34.7 65 -30 7.5 -3.1
EEM iShares MSCI Emerging Markets ETF 34.6 68 -33 7.4 -3.2
JHEM John Hancock Multifactor Emerging Markets ETF 33.8 49 -14 8.6 -2.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 33.2 36 -1 7.4 -3.3
VWO Vanguard FTSE Emerging Markets ETF 33.1 10 25 8.1 -2.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 33.0 49 -14 7.9 -2.8
IEMG iShares Core MSCI Emerging Markets ETF 32.9 13 22 7.9 -2.7
SPEM SPDR Portfolio Emerging Markets ETF 32.5 11 24 8.0 -2.7
EEMA iShares MSCI Emerging Markets Asia ETF 32.3 50 -15 7.6 -3.0
BKF iShares MSCI BRIC ETF 32.0 69 -34 7.6 -3.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 31.4 30 5 7.8 -2.9
GMF SPDR S&P Emerging Asia Pacific ETF 30.2 49 -14 7.4 -3.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 29.9 45 -10 7.5 -3.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 29.6 68 -33 7.1 -3.6
GXC SPDR S&P China ETF 29.2 59 -24 8.2 -2.5
FLAX Franklin FTSE Asia Ex Japan ETF 29.2 19 16 7.7 -2.9
MCHI iShares MSCI China ETF 29.2 59 -24 7.9 -2.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 28.6 32 3 5.9 -4.8
FLCH Franklin FTSE China ETF 28.6 19 16 8.4 -2.2
ESGE iShares ESG MSCI EM ETF 27.2 25 10 8.7 -2.0
KALL KraneShares FTSE Emerging Markets Plus ETF 26.5 49 -14 8.2 -2.5
AVEM Avantis Emerging Markets Equity ETF 25.6 33 2 8.9 -1.8
BKEM BNY Mellon Emerging Markets Equity ETF 25.1 11 24 8.4 -2.2
DVEM WisdomTree Emerging Markets Dividend Fund 24.8 32 3 7.3 -3.3
CN Xtrackers MSCI All China Equity ETF 24.6 50 -15 8.2 -2.5
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 24.0 20 15 6.8 -3.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 23.0 59 -24 11.0 +0.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 23.0 30 5 8.8 -1.8
EMMF WisdomTree Emerging Markets Multifactor Fund 22.4 48 -13 9.6 -1.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 22.2 95 -60 8.0 -2.6
CHIL Global X MSCI China Large-Cap 50 ETF 21.7 29 6 7.9 -2.8
CXSE WisdomTree China ex-State-Owned Enterprises Fund 21.3 32 3 6.0 -4.6
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 21.2 50 -15 10.5 -0.1
EMXC iShares MSCI Emerging Markets ex China ETF 20.8 25 10 8.0 -2.6
ROAM Hartford Multifactor Emerging Markets ETF 20.0 44 -9 13.1 +2.4
NUEM Nuveen ESG Emerging Markets Equity ETF 20.0 45 -10 6.9 -3.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 19.9 40 -5 7.3 -3.4
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 19.8 49 -14 7.7 -3.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 19.6 44 -9 9.0 -1.7
FDEM Fidelity Targeted Emerging Markets Factor ETF 19.0 45 -10 8.6 -2.1
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 18.6 45 -10 9.0 -1.7
FXI iShares China Large-Cap ETF 18.6 74 -39 13.7 +3.0
FNI First Trust Chindia ETF 18.6 60 -25 2.6 -8.1
ECON Columbia Emerging Markets Consumer ETF 17.4 59 -24 4.5 -6.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 16.9 25 10 7.9 -2.7
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 16.3 18 17 5.4 -5.2
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 15.4 86 -51 2.3 -8.4
KWEB KraneShares CSI China Internet ETF 15.3 76 -41 2.0 -8.7
RNEM Emerging Markets Equity Select ETF 15.1 75 -40 11.8 +1.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 14.8 32 3 9.1 -1.6
PGJ Invesco Golden Dragon China ETF 14.6 70 -35 3.3 -7.3
BICK First Trust BICK Index Fund 14.5 64 -29 4.4 -6.2
XCEM Columbia EM Core ex-China ETF 14.4 16 19 7.1 -3.5
DEM WisdomTree Emerging Markets High Dividend Fund 14.0 63 -28 14.8 +4.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 13.9 16 19 6.8 -3.8
FDNI First Trust Dow Jones International Internet ETF 13.9 65 -30 2.2 -8.4
EEMO Invesco S&P Emerging Markets Momentum ETF 13.9 29 6 6.4 -4.3
CHIQ Global X China Consumer ETF 13.8 65 -30 7.4 -3.3
EELV Invesco S&P Emerging Markets Low Volatility ETF 13.7 29 6 10.1 -0.5
TTTN UP Fintech China-U.S. Internet Titans ETF 13.6 59 -24 4.2 -6.4
VSGX Vanguard ESG International Stock ETF 13.5 17 18 7.0 -3.6
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 13.4 45 -10 14.4 +3.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 13.3 40 -5 7.0 -3.7
FEM First Trust Emerging Markets AlphaDEX Fund 13.2 80 -45 13.4 +2.8
ACWX iShares MSCI ACWI ex U.S. ETF 13.1 32 3 7.2 -3.5
AIA iShares Asia 50 ETF 13.0 50 -15 8.0 -2.7
PNQI Invesco NASDAQ Internet ETF 12.9 60 -25 1.1 -9.6
VYMI Vanguard International High Dividend Yield ETF 12.2 27 8 10.1 -0.5
IXUS ishares Core MSCI Total International Stock ETF 11.7 9 26 7.3 -3.4
DINT Davis Select International ETF 11.7 68 -33 5.9 -4.7
CHIE Global X China Energy ETF 11.6 66 -31 12.1 +1.5
VXUS Vanguard Total International Stock Index Fund 11.1 8 27 7.4 -3.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 11.1 74 -39 13.2 +2.6
VEU Vanguard FTSE All-World ex-US Index Fund 10.9 8 27 7.5 -3.2
OGIG O'Shares Global Internet Giants ETF 10.9 48 -13 0.8 -9.8
FLLA Franklin FTSE Latin America ETF 10.7 19 16 6.7 -4.0
EWT iShares MSCI Taiwan ETF 10.4 59 -24 6.0 -4.7
FLTW Franklin FTSE Taiwan ETF 10.4 19 16 6.2 -4.4
GBUY Goldman Sachs Motif New Age Consumer ETF 9.8 50 -15 1.8 -8.8
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 9.7 20 15 11.2 +0.5
CWI SPDR MSCI ACWI ex-US ETF 9.6 30 5 7.1 -3.6
DWLD Davis Select Worldwide ETF 9.6 63 -28 6.6 -4.0
CHIX Global X China Financials ETF 9.5 66 -31 20.4 +9.8
BUYZ Franklin Disruptive Commerce ETF 9.3 50 -15 -0.1 -10.8
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 9.2 51 -16 14.3 +3.7
GIGE SoFi Gig Economy ETF 9.0 59 -24 -0.7 -11.3
VIDI Vident International Equity Fund 8.7 59 -24 11.0 +0.3
BLCN Reality Shares Nasdaq NextGen Economy ETF 8.7 68 -33 3.7 -6.9
EBIZ Global X E-Commerce ETF 8.5 50 -15 2.8 -7.9
FLBR Franklin FTSE Brazil ETF 8.3 19 16 5.1 -5.5
PIE Invesco DWA Emerging Markets Momentum ETF 8.2 90 -55 5.0 -5.7
EWZ iShares MSCI Brazil Capped ETF 8.0 59 -24 4.7 -6.0
GDAT Goldman Sachs Motif Data-Driven World Etf 7.6 50 -15 5.3 -5.4
WUGI Esoterica NextG Economy ETF 7.5 75 -40 1.6 -9.1
LEGR First Trust Index Digital Transaction & Process Technology E 7.2 65 -30 7.0 -3.7

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 Emerging Markets ETF
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 8.0 %
Divided by: Fwd. P/BV 0.7 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 10.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 CATEGORY
AVERAGE
1.45
 
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.