Invesco KBW Regional Banking ETF
ALTAR
Score™
14.6% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
8.3x P/Sales
ratio
2.3x
P/BV
ratio
0.7x Div.
yield
4.9%


  • 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) $31
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) $2,612
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 72.2%
Small cap (<$2bn) 27.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
COMMERCE BANCSHARES INC 5.0 %
SIGNATURE BANK 3.8 %
EAST WEST BANCORP INC 3.3 %
CULLEN/FROST BANKERS INC 3.0 %
CVB FINANCIAL CORP 3.0 %
CHEMICAL FINANCIAL CORP 3.0 %
COMMUNITY BANK SYSTEM INC 2.8 %
FIRST FINL BANKSHARES INC 2.5 %
GLACIER BANCORP INC 2.5 %
VALLEY NATIONAL BANCORP 2.5 %
Total 31.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.0 %
PUERTO RICO 2.1 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-40.5% -32.7% -2.5% -- 5.6%

Market Correlations
versus... Beta R-squared
S&P500 1.55 74%
MSCI EAFE 1.45 63%
MSCI Emg. Mkts. 1.08 51%

Technical Indicators
Recent close $30.89
30d moving avg. $38.23
Annualized volatility 27.4%
Short interest (ETF) 3.1%
Short interest (Underlying) 5.8%
Relative strength (RSI) 32

Liquidity measures
Avg. volume (thou.) 15
Turnover 1.5%
Bid/Ask (% of price) 0.70%
ADV underlying (mns) $1,324

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™: 14.6%


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 44.9 35 0 15.6 +1.0
KBE SPDR S&P Bank ETF 43.6 35 0 15.5 +0.9
QABA First Trust NASDAQ ABA Community Bank Index Fund 41.4 60 -25 13.5 -1.1
IAT iShares U.S. Regional Banks ETF 27.6 42 -7 15.1 +0.4
FTXO First Trust Nasdaq Bank ETF 17.9 60 -25 15.0 +0.4
PSCF Invesco S&P SmallCap Financials ETF 16.8 29 6 15.1 +0.5
FOVL iShares Focused Value Factor ETF 15.6 25 10 14.1 -0.5
PXMV Invesco S&P MidCap Value with Momentum ETF 14.3 39 -4 13.7 -1.0
JKL iShares Morningstar Small Cap Value ETF 12.4 30 5 14.8 +0.2
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 12.1 60 -25 12.8 -1.8
MDYV SPDR S&P 400 Mid Cap Value ETF 12.0 15 20 12.1 -2.6
IJJ iShares S&P Mid-Cap 400 Value ETF 12.0 25 10 12.0 -2.7
IVOV Vanguard S&P Mid-Cap 400 Value ETF 11.9 15 20 12.2 -2.5
FXO First Trust Financials AlphaDEX Fund 10.9 63 -28 13.9 -0.7
FNK First Trust Mid Cap Value AlphaDEX Fund 10.3 70 -35 15.9 +1.2
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 10.0 40 -5 7.9 -6.7
XSLV Invesco S&P SmallCap Low Volatility ETF 9.8 25 10 11.6 -3.0
EZM WisdomTree U.S. MidCap Earnings Fund 9.0 38 -3 13.8 -0.9
RFV Invesco S&P Midcap 400 Pure Value ETF 8.2 35 0 16.6 +1.9
JHSC John Hancock Multifactor Small Cap ETF 7.9 50 -15 8.6 -6.1
VBR Vanguard Small Cap Value Index Fund 7.6 7 28 12.0 -2.6
AVUV Avantis U.S. Small Cap Value ETF 7.0 25 10 13.8 -0.8
VTWV Vanguard Russell 2000 Value Index Fund 6.9 15 20 10.5 -4.2
IWN iShares Russell 2000 Value ETF 6.7 24 11 10.3 -4.3
FNX First Trust Mid Cap Core AlphaDEX Fund 6.6 61 -26 10.1 -4.5
SLYV SPDR S&P 600 Small Cap Value ETF 6.6 15 20 12.2 -2.4
VIOV Vanguard S&P Small-Cap 600 Value ETF 6.5 15 20 12.2 -2.4
DON WisdomTree U.S. MidCap Dividend Fund 6.4 38 -3 11.0 -3.6
AUSF Global X Adaptive U.S. Factor ETF 6.4 27 8 10.5 -4.2
EWMC Invesco S&P MidCap 400 Equal Weight ETF 6.4 40 -5 9.7 -4.9
RNMC Mid Cap US Equity Select ETF 6.2 60 -25 10.0 -4.6
IJS iShares S&P Small-cap 600 Value ETF 6.1 25 10 12.1 -2.6
MDY SPDR S&P Midcap 400 ETF Trust 6.0 23 12 8.9 -5.7
SPMD SPDR Portfolio Mid Cap ETF 5.9 5 30 9.1 -5.6
SQLV Legg Mason Small-Cap Quality Value 5.9 62 -27 12.2 -2.4
IJH iShares Core S&P Mid-Cap ETF 5.9 6 29 9.1 -5.6
IVOO Vanguard S&P Mid-Cap 400 ETF 5.9 10 25 9.0 -5.6
IEFN iShares Evolved U.S. Financials ETF 5.9 18 17 12.1 -2.5
CSB Victory CEMP US Small Cap High Dividend Volatility Wtd Idx E 5.8 35 0 12.2 -2.4
JKJ iShares Morningstar Small-Cap ETF 5.5 25 10 9.0 -5.6
XMLV Invesco S&P MidCap Low Volatility ETF 5.4 25 10 8.1 -6.5
CVY Invesco Zacks Multi-Asset Income ETF 5.2 97 -62 18.3 +3.7
PVAL Principal Contrarian Value Index ETF 5.0 29 6 10.6 -4.1
FNDA Schwab Fundamental U.S. Small Co. Index ETF 5.0 25 10 9.6 -5.0
TPSC Timothy Plan US Small Cap Core ETF 4.9 52 -17 10.9 -3.8
SMDV ProShares Russell 2000 Dividend Growers ETF 4.9 40 -5 8.4 -6.3
SCHA Schwab U.S. Small-Cap ETF 4.8 4 31 7.5 -7.2
SDY SPDR S&P Dividend ETF 4.8 35 0 8.2 -6.5
DES WisdomTree U.S. SmallCap Dividend Fund 4.7 38 -3 12.7 -1.9
CSA Victory CEMP US Small Cap Volatility Weighted Index ETF 4.7 35 0 11.6 -3.0
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 4.7 17 18 7.3 -7.4
XSVM Invesco S&P SmallCap Value with Momentum ETF 4.6 39 -4 15.9 +1.3
PSC Principal U.S. Small Cap Index ETF 4.5 38 -3 11.1 -3.6
PY Principal Shareholder Yield Index ETF 4.4 29 6 12.6 -2.0
AFMC First Trust Active Factor Mid Cap ETF 4.4 65 -30 9.7 -5.0
PBSM Invesco PureBeta MSCI USA Small Cap ETF 4.3 6 29 8.0 -6.6
SLY SPDR S&P 600 Small Cap ETF 4.2 15 20 9.5 -5.2
SPSM SPDR Portfolio Small Cap ETF 4.2 5 30 9.6 -5.1
IJR iShares Core S&P Small Cap ETF 4.2 7 28 9.6 -5.1
VIOO Vanguard S&P Small-Cap 600 ETF 4.2 10 25 9.6 -5.1
ISMD Inspire Small/Mid Cap Impact ETF 4.2 61 -26 7.6 -7.0
VB Vanguard Small-Cap ETF 4.1 5 30 8.1 -6.5
VFH Vanguard Financials Index Fund 4.1 10 25 11.7 -3.0
IYG iShares US Financial Services ETF 4.1 42 -7 9.8 -4.9
NUSC Nuveen ESG Small-Cap ETF 4.0 40 -5 7.6 -7.1
FNCL Fidelity MSCI Financials Index ETF 4.0 8 27 11.7 -3.0
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 4.0 39 -4 8.7 -6.0
XSHQ Invesco S&P SmallCap Quality ETF 3.9 29 6 8.0 -6.7
SFYX Sofi Next 500 ETF 3.9 0 35 8.2 -6.5
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 3.8 12 23 10.6 -4.0
AIRR First Trust RBA American Industrial Renaissance ETF 3.7 70 -35 9.8 -4.8
AFSM First Trust Active Factor Small Cap ETF 3.7 75 -40 10.6 -4.0
QVM Arrow QVM Equity Factor ETF 3.6 65 -30 14.5 -0.1
EQWM Invesco S&P MidCap Quality ETF 3.5 25 10 6.8 -7.8
FAB First Trust Multi Cap Value AlphaDEX Fund 3.5 71 -36 13.3 -1.4
KBWD Invesco KBW High Dividend Yield Financial ETF 3.5 158 -123 24.0 +9.4
VFVA Vanguard U.S. Value Factor ETF 3.4 13 22 16.5 +1.9
VTWO Vanguard Russell 2000 Index Fund 3.4 10 25 5.8 -8.8
IWM iShares Russell 2000 ETF 3.3 19 16 5.7 -9.0
VFLQ Vanguard U.S. Liquidity Factor ETF 3.3 13 22 5.5 -9.2
BFOR Barron's 400 ETF 3.1 66 -31 9.1 -5.5
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 3.1 20 15 10.3 -4.3
VFMF Vanguard U.S. Multifactor ETF 3.0 18 17 10.9 -3.7
VXF Vanguard Extended Market Index Fund 3.0 7 28 5.9 -8.7
FYT First Trust Small Cap Value AlphaDEX Fund 3.0 72 -37 13.6 -1.0
TMDV ProShares Russell US Dividend Growers ETF 3.0 35 0 6.5 -8.1
FNY First Trust Mid Cap Growth AlphaDEX Fund 2.9 70 -35 4.5 -10.1
WBIY WBI Power Factor High Dividend ETF 2.9 70 -35 21.5 +6.9
SMDY Syntax Stratified MidCap ETF 2.8 30 5 9.1 -5.5
JHMF John Hancock Multifactor Financials ETF 2.8 40 -5 10.7 -3.9
SLT Salt TruBeta High Exposure ETF 2.7 29 6 12.3 -2.3
VFQY Vanguard U.S. Quality Factor ETF 2.7 13 22 8.5 -6.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 2.7 20 15 9.7 -5.0
SCHM Schwab U.S. Mid-Cap ETF 2.6 4 31 9.0 -5.6
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 2.5 48 -13 8.8 -5.8
KSCD KFA Small Cap Quality Dividend Index ETF 2.5 51 -16 7.4 -7.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 2.5 29 6 8.5 -6.1
TPHD Timothy Plan High Dividend Stock ETF 2.4 52 -17 9.4 -5.3
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 2.4 29 6 9.2 -5.4
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 2.4 40 -5 8.7 -5.9

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 10.2 %
Divided by: Fwd. P/BV 0.7 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 14.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.70 CATEGORY
AVERAGE
1.51
 
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.