Invesco Strategic Emerging Markets ETF
ALTAR
Score™
11.1% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
10.8x P/Sales
ratio
0.4x
P/BV
ratio
0.8x Div.
yield
3.8%


  • 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) $18
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 370
Wgt avg mkt cap (mns) $83,878
Large cap (>$10bn) 68.3%
Mid cap ($2-10bn) 25.4%
Small cap (<$2bn) 4.6%
Developed mkts 7.6%
Emerging mkts 92.4%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.8 %
PETROCHINA CO LTD-H 5.2 %
CHINA PETROLEUM & CHEMICAL-H 4.4 %
JD.COM INC-ADR 3.7 %
TAIWAN SEMICONDUCTOR MANUFAC 3.4 %
PING AN INSURANCE GROUP CO-H 3.4 %
HON HAI PRECISION INDUSTRY 2.1 %
GAZPROM OAO 2.1 %
CHINA SHENHUA ENERGY CO - H 1.9 %
INFOSYS TECHNOLOGIES-SP ADR 1.6 %
Total 35.7 %

TOP COUNTRY EXPOSURE
CHINA 53.6 %
TAIWAN 14.5 %
RUSSIA 6.0 %
BRAZIL 6.0 %
HONG KONG 5.3 %
INDIA 2.7 %
MEXICO 2.5 %
SOUTH AFRICA 1.8 %
MALAYSIA 1.3 %
THAILAND 1.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-22.1% -18.8% -- -- -8.3%

Market Correlations
versus... Beta R-squared
S&P500 0.87 71%
MSCI EAFE 1.04 82%
MSCI Emg. Mkts. 0.88 88%

Technical Indicators
Recent close $21.16
30d moving avg. $20.87
Annualized volatility 22.5%
Short interest (ETF) 2.7%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.5%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $15,467

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 11.1%


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 43.3 50 -15 14.6 +3.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 40.7 14 21 10.1 -1.1
SCHE Schwab Emerging Markets Equity ETF 38.0 13 22 9.2 -2.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 37.7 39 -4 14.0 +2.8
EEM iShares MSCI Emerging Markets ETF 36.1 68 -33 8.8 -2.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 35.6 65 -30 8.9 -2.2
JHEM John Hancock Multifactor Emerging Markets ETF 35.4 55 -20 9.5 -1.7
EEMA iShares MSCI Emerging Markets Asia ETF 35.3 50 -15 9.0 -2.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 34.8 49 -14 9.6 -1.6
VWO Vanguard FTSE Emerging Markets ETF 33.9 10 25 9.4 -1.7
IEMG iShares Core MSCI Emerging Markets ETF 33.4 14 21 9.3 -1.9
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 33.3 30 5 9.3 -1.9
BKF iShares MSCI BRIC ETF 33.1 69 -34 9.0 -2.1
SPEM SPDR Portfolio Emerging Markets ETF 32.6 11 24 9.1 -2.0
GMF SPDR S&P Emerging Asia Pacific ETF 32.3 49 -14 8.5 -2.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 32.1 68 -33 8.5 -2.6
FLAX Franklin FTSE Asia Ex Japan ETF 32.1 19 16 9.1 -2.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 31.7 45 -10 9.1 -2.0
MCHI iShares MSCI China ETF 31.0 59 -24 9.6 -1.6
FLCH Franklin FTSE China ETF 30.7 19 16 9.7 -1.4
GXC SPDR S&P China ETF 30.7 59 -24 9.4 -1.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 29.9 32 3 7.3 -3.8
KALL KraneShares FTSE Emerging Markets Plus ETF 28.3 49 -14 9.6 -1.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 27.8 59 -24 11.8 +0.7
DVEM WisdomTree Emerging Markets Dividend Fund 26.7 32 3 9.6 -1.5
CN Xtrackers MSCI All China Equity ETF 26.3 50 -15 9.9 -1.3
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 26.0 20 15 8.1 -3.1
ESGE iShares ESG MSCI EM ETF 25.4 25 10 10.3 -0.8
CHIL Global X MSCI China Large-Cap 50 ETF 24.4 29 6 10.0 -1.2
AVEM Avantis Emerging Markets Equity ETF 24.1 33 2 10.1 -1.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 23.5 95 -60 10.9 -0.2
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 23.4 50 -15 10.6 -0.6
WCHN WisdomTree ICBCCS S&P China 500 Fund 23.2 55 -20 9.3 -1.8
ROAM Hartford Multifactor Emerging Markets ETF 23.1 44 -9 15.9 +4.8
EMXC iShares MSCI Emerging Markets ex China ETF 23.0 49 -14 8.9 -2.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 22.9 30 5 9.8 -1.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 22.5 32 3 7.4 -3.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 21.5 49 -14 8.9 -2.3
EMMF WisdomTree Emerging Markets Multifactor Fund 20.7 48 -13 10.4 -0.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 20.5 45 -10 9.4 -1.7
NUEM Nuveen ESG Emerging Markets Equity ETF 20.3 45 -10 8.2 -2.9
FXI iShares China Large-Cap ETF 20.1 74 -39 14.2 +3.1
AXJL WisdomTree Asia Pacific ex-Japan Fund 19.5 48 -13 10.1 -1.1
EMCG WisdomTree Emerging Markets Consumer Growth Fund 19.5 32 3 8.0 -3.2
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 19.1 40 -5 8.1 -3.0
FNI First Trust Chindia ETF 18.6 59 -24 3.8 -7.3
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 18.5 45 -10 10.4 -0.7
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 18.0 18 17 6.5 -4.6
ECON Columbia Emerging Markets Consumer ETF 17.9 59 -24 5.2 -6.0
EEMO Invesco S&P Emerging Markets Momentum ETF 17.7 30 5 7.6 -3.5
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 16.9 32 3 10.1 -1.0
DEM WisdomTree Emerging Markets High Dividend Fund 16.7 63 -28 14.9 +3.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 16.7 29 6 10.3 -0.8
KWEB KraneShares CSI China Internet ETF 16.5 76 -41 3.8 -7.4
RNEM Emerging Markets Equity Select ETF 16.4 75 -40 11.2 +0.1
PGJ Invesco Golden Dragon China ETF 16.2 70 -35 3.8 -7.4
FDNI First Trust Dow Jones International Internet ETF 15.8 65 -30 3.0 -8.2
XCEM Columbia EM Core ex-China ETF 15.8 16 19 8.3 -2.8
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 15.4 86 -51 2.5 -8.7
FEM First Trust Emerging Markets AlphaDEX Fund 15.3 80 -45 12.4 +1.3
TTTN UP Fintech China-U.S. Internet Titans ETF 15.1 59 -24 5.2 -6.0
AIA iShares Asia 50 ETF 15.0 50 -15 9.4 -1.7
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 14.9 25 10 8.9 -2.2
CHIQ Global X China Consumer ETF 14.7 65 -30 10.1 -1.0
FDEM Fidelity Targeted Emerging Markets Factor ETF 14.7 45 -10 10.4 -0.7
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 14.1 45 -10 14.3 +3.1
EWT iShares MSCI Taiwan ETF 13.9 59 -24 6.7 -4.5
FLTW Franklin FTSE Taiwan ETF 13.8 19 16 7.0 -4.2
CHIE Global X China Energy ETF 12.8 66 -31 11.5 +0.4
PNQI Invesco NASDAQ Internet ETF 12.7 62 -27 1.3 -9.8
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 12.6 64 -29 5.8 -5.3
ECOW Pacer Emerging Markets Cash Cows 100 ETF 12.4 70 -35 13.7 +2.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 12.2 16 19 7.5 -3.6
DINT Davis Select International ETF 12.2 75 -40 6.4 -4.8
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 12.1 80 -45 1.9 -9.2
BICK First Trust BICK Index Fund 12.0 64 -29 4.8 -6.3
ACWX iShares MSCI ACWI ex U.S. ETF 11.7 32 3 8.0 -3.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 11.5 20 15 11.6 +0.5
FCA First Trust China AlphaDEX Fund 11.5 80 -45 15.9 +4.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 11.5 40 -5 7.9 -3.2
VYMI Vanguard International High Dividend Yield ETF 11.0 32 3 10.8 -0.3
VSGX Vanguard ESG International Stock ETF 10.9 17 18 7.9 -3.2
ONLN ProShares Online Retail ETF 10.8 58 -23 1.8 -9.3
PIE Invesco DWA Emerging Markets Momentum ETF 10.6 90 -55 6.1 -5.1
IXUS ishares Core MSCI Total International Stock ETF 10.3 9 26 8.1 -3.0
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 10.1 51 -16 14.3 +3.2
VXUS Vanguard Total International Stock Index Fund 10.0 8 27 8.3 -2.8
DWLD Davis Select Worldwide ETF 9.9 64 -29 7.0 -4.1
VEU Vanguard FTSE All-World ex-US Index Fund 9.7 8 27 8.3 -2.8
EBIZ Global X E-Commerce ETF 9.3 50 -15 3.2 -8.0
JOYY Infusive Compounding Global Equities ETF 9.2 50 -15 4.0 -7.1
GBUY Goldman Sachs Motif New Age Consumer ETF 8.9 50 -15 2.3 -8.8
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 8.7 60 -25 9.1 -2.0
BLCN Reality Shares Nasdaq NextGen Economy ETF 8.6 68 -33 4.6 -6.5
CWI SPDR MSCI ACWI ex-US ETF 8.6 30 5 8.1 -3.1
CHIX Global X China Financials ETF 8.5 65 -30 19.7 +8.6
EDIV SPDR S&P Emerging Markets Dividend ETF 8.5 49 -14 12.2 +1.1
GIGE SoFi Gig Economy ETF 8.4 59 -24 -0.4 -11.6
BUYZ Franklin Disruptive Commerce ETF 8.0 50 -15 -0.1 -11.2
EYLD Cambria Emerging Shareholder Yield ETF 7.7 66 -31 17.8 +6.7

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%.

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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 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 8.6 %
Divided by: Fwd. P/BV 0.7 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 11.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 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.