Invesco KBW Regional Banking ETF
ALTAR
Score™
12.0% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
17.4x P/Sales
ratio
2.4x
P/BV
ratio
0.8x Div.
yield
4.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco KBW Regional Banking Portfolio is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that generally correspond (before fees and expenses) to the price and yield of the KBW Regional Banking Index (the "Underlying Index"). The Fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index.

FUND BASICS
Category US Equities
Fund Sponsor Tax Exempt Securities Trust In
Website www.powershares.com
Inception date Nov 01, 2011
Assets (mns) $28
Currency USD
Expense ratio 35 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Tiered
Index replication n/a
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 51
Wgt avg mkt cap (mns) $3,023
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 78.9%
Small cap (<$2bn) 21.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SIGNATURE BANK 4.3 %
EAST WEST BANCORP INC 4.0 %
COMMERCE BANCSHARES INC 3.8 %
CULLEN/FROST BANKERS INC 3.6 %
PROSPERITY BANCSHARES INC 3.6 %
COLUMBIA BANKING SYSTEM INC 2.3 %
HOME BANCSHARES INC 2.2 %
PACWEST BANCORP 2.2 %
BANK OF THE OZARKS 2.2 %
NEW YORK COMMUNITY BANCORP 2.1 %
Total 30.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.1 %
PUERTO RICO 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.
-31.8% -25.9% -1.7% -- 7.1%

Market Correlations
versus... Beta R-squared
S&P500 1.49 77%
MSCI EAFE 1.51 69%
MSCI Emg. Mkts. 1.09 57%

Technical Indicators
Recent close $33.26
30d moving avg. $36.38
Annualized volatility 28.8%
Short interest (ETF) 3.6%
Short interest (Underlying) 5.8%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.6%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $1,243

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco KBW Regional Banking ETF ETF based on the alternatives' overlap in portfolio holdings with KBWR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KBWR Expense: 35 bp ALTAR Score™: 12.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KBWR
Ticker Fund
Name
Overlap1
vs KBWR
(%)
Expense
ratio
(bp)
Savings
vs KBWR
(bp)
ALTAR
Score™
(%)
ALTAR
vs KBWR
(%)
KRE SPDR S&P Regional Banking ETF 49.0 35 0 11.9 -0.1
KBE SPDR S&P Bank ETF 47.9 35 0 12.0 +0.1
QABA First Trust NASDAQ ABA Community Bank Index Fund 40.9 60 -25 11.2 -0.8
IAT iShares U.S. Regional Banks ETF 25.9 42 -7 11.3 -0.6
FTXO First Trust Nasdaq Bank ETF 19.3 60 -25 9.2 -2.8
FXO First Trust Financials AlphaDEX Fund 14.8 63 -28 11.8 -0.2
FOVL iShares Focused Value Factor ETF 14.6 25 10 10.6 -1.3
PXMV Invesco S&P MidCap Value with Momentum ETF 12.9 39 -4 10.2 -1.7
FNK First Trust Mid Cap Value AlphaDEX Fund 12.5 70 -35 10.5 -1.5
PSCF Invesco S&P SmallCap Financials ETF 12.4 29 6 11.9 -0.1
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 11.6 40 -5 6.2 -5.7
IJJ iShares S&P Mid-Cap 400 Value ETF 11.1 25 10 8.7 -3.3
MDYV SPDR S&P 400 Mid Cap Value ETF 11.1 15 20 8.8 -3.2
IVOV Vanguard S&P Mid-Cap 400 Value ETF 11.0 15 20 8.7 -3.3
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 9.8 35 0 9.6 -2.4
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 9.2 60 -25 8.6 -3.4
EZM WisdomTree U.S. MidCap Earnings Fund 8.2 38 -3 9.3 -2.7
JKJ iShares Morningstar Small-Cap ETF 7.7 25 10 6.8 -5.2
JKL iShares Morningstar Small Cap Value ETF 7.7 30 5 10.5 -1.4
EWMC Invesco S&P MidCap 400 Equal Weight ETF 7.1 40 -5 7.3 -4.7
RFV Invesco S&P Midcap 400 Pure Value ETF 6.9 35 0 10.6 -1.4
DON WisdomTree U.S. MidCap Dividend Fund 6.9 38 -3 7.7 -4.2
VBR Vanguard Small Cap Value Index Fund 6.8 7 28 8.5 -3.5
WBIY WBI Power Factor High Dividend ETF 6.6 70 -35 12.3 +0.4
SDY SPDR S&P Dividend ETF 6.5 35 0 7.0 -5.0
XSLV Invesco S&P SmallCap Low Volatility ETF 6.5 25 10 6.1 -5.9
FNX First Trust Mid Cap Core AlphaDEX Fund 6.4 61 -26 6.5 -5.5
JHSC John Hancock Multifactor Small Cap ETF 6.4 42 -7 6.0 -6.0
PSC Principal U.S. Small Cap Index ETF 6.2 38 -3 7.2 -4.8
AVUV Avantis U.S. Small Cap Value ETF 6.1 25 10 9.4 -2.5
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 6.1 35 0 8.4 -3.6
VTWV Vanguard Russell 2000 Value Index Fund 5.9 15 20 7.6 -4.4
IWN iShares Russell 2000 Value ETF 5.9 24 11 7.4 -4.6
XSHQ Invesco S&P SmallCap Quality ETF 5.8 29 6 6.7 -5.3
MDY SPDR S&P Midcap 400 ETF Trust 5.7 23 12 6.5 -5.5
SPMD SPDR Portfolio Mid Cap ETF 5.7 5 30 6.7 -5.3
IJH iShares Core S&P Mid-Cap ETF 5.7 6 29 6.7 -5.3
XMLV Invesco S&P MidCap Low Volatility ETF 5.6 25 10 5.7 -6.3
IVOO Vanguard S&P Mid-Cap 400 ETF 5.5 10 25 6.5 -5.4
IEFN iShares Evolved U.S. Financials ETF 5.5 18 17 9.4 -2.6
TPSC Timothy Plan US Small Cap Core ETF 5.4 52 -17 8.4 -3.6
RNMC Mid Cap US Equity Select ETF 5.3 60 -25 7.9 -4.1
VIOV Vanguard S&P Small-Cap 600 Value ETF 5.1 15 20 9.8 -2.2
EQWM Invesco S&P MidCap Quality ETF 5.1 25 10 6.4 -5.5
ISMD Inspire Small/Mid Cap Impact ETF 4.9 60 -25 6.6 -5.4
KBWD Invesco KBW High Dividend Yield Financial ETF 4.8 158 -123 16.3 +4.3
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 4.8 20 15 9.6 -2.4
DES WisdomTree U.S. SmallCap Dividend Fund 4.8 38 -3 8.9 -3.1
CVY Invesco Zacks Multi-Asset Income ETF 4.8 97 -62 11.7 -0.3
AUSF Global X Adaptive U.S. Factor ETF 4.7 27 8 7.9 -4.0
IJS iShares S&P Small-cap 600 Value ETF 4.7 25 10 9.4 -2.6
SLYV SPDR S&P 600 Small Cap Value ETF 4.7 15 20 9.4 -2.5
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 4.7 35 0 8.4 -3.6
BKSE BNY Mellon US Small Cap Core Equity ETF 4.7 4 31 5.8 -6.2
FNDA Schwab Fundamental U.S. Small Co. Index ETF 4.5 25 10 6.8 -5.1
FAB First Trust Multi Cap Value AlphaDEX Fund 4.5 71 -36 9.6 -2.3
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 4.4 29 6 9.9 -2.0
PMOM Principal Sustainable Momentum Index ETF 4.3 29 6 9.2 -2.7
NUSC Nuveen ESG Small-Cap ETF 4.3 40 -5 5.4 -6.5
RYJ Invesco Raymond James SB-1 Equity ETF 4.1 82 -47 3.6 -8.4
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 4.0 7 28 5.6 -6.4
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 4.0 17 18 5.2 -6.7
VFH Vanguard Financials Index Fund 3.9 10 25 8.8 -3.2
FNCL Fidelity MSCI Financials Index ETF 3.9 8 27 8.8 -3.2
FYT First Trust Small Cap Value AlphaDEX Fund 3.9 72 -37 9.6 -2.4
SCHA Schwab U.S. Small-Cap ETF 3.8 4 31 4.7 -7.2
IYG iShares US Financial Services ETF 3.8 42 -7 6.9 -5.0
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 3.8 48 -13 5.8 -6.2
VFVA Vanguard U.S. Value Factor ETF 3.7 14 21 11.6 -0.4
SLT Salt TruBeta High Exposure ETF 3.7 29 6 9.5 -2.4
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 3.6 80 -45 5.7 -6.3
PBSM Invesco PureBeta MSCI USA Small Cap ETF 3.6 6 29 5.4 -6.5
VFLQ Vanguard U.S. Liquidity Factor ETF 3.6 14 21 4.8 -7.2
SMDV ProShares Russell 2000 Dividend Growers ETF 3.5 40 -5 7.7 -4.3
VB Vanguard Small-Cap ETF 3.5 5 30 5.4 -6.5
AFMC First Trust Active Factor Mid Cap ETF 3.4 65 -30 6.3 -5.6
FGD First Trust Dow Jones Global Select Dividend Index Fund 3.4 59 -24 11.2 -0.8
VIOO Vanguard S&P Small-Cap 600 ETF 3.2 10 25 7.3 -4.7
AFSM First Trust Active Factor Small Cap ETF 3.2 75 -40 5.7 -6.2
IWM iShares Russell 2000 ETF 3.0 19 16 3.7 -8.3
PEY Invesco High Yield Equity Dividend Achievers ETF 3.0 53 -18 9.1 -2.8
TMDV ProShares Russell US Dividend Growers ETF 2.9 35 0 5.3 -6.7
TPHD Timothy Plan High Dividend Stock ETF 2.9 52 -17 7.7 -4.3
SLY SPDR S&P 600 Small Cap ETF 2.8 15 20 7.1 -4.8
SPSM SPDR Portfolio Small Cap ETF 2.8 5 30 7.2 -4.7
XSVM Invesco S&P SmallCap Value with Momentum ETF 2.8 39 -4 11.9 -0.0
IJR iShares Core S&P Small Cap ETF 2.8 7 28 7.2 -4.8
DVY iShares Select Dividend ETF 2.8 39 -4 9.6 -2.3
JHMF John Hancock Multifactor Financials ETF 2.8 40 -5 7.8 -4.2
VTWO Vanguard Russell 2000 Index Fund 2.7 10 25 3.7 -8.2
RWK Invesco S&P MidCap 400 Revenue ETF 2.6 39 -4 8.1 -3.8
VFMF Vanguard U.S. Multifactor ETF 2.5 19 16 7.2 -4.8
AIRR First Trust RBA American Industrial Renaissance ETF 2.5 70 -35 7.5 -4.5
SMDY Syntax Stratified MidCap ETF 2.5 30 5 6.4 -5.6
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 2.4 20 15 6.1 -5.9
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 2.4 12 23 8.0 -3.9
VXF Vanguard Extended Market Index Fund 2.4 7 28 3.8 -8.2
BFOR Barron's 400 ETF 2.3 65 -30 6.3 -5.6
SCHM Schwab U.S. Mid-Cap ETF 2.3 4 31 6.3 -5.6
SFYX Sofi Next 500 ETF 2.2 0 35 6.0 -6.0

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 KBW Regional Banking ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.1 %
Divided by: Fwd. P/BV 0.7 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 12.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.68 CATEGORY
AVERAGE
1.52
 
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.