Invesco Russell 1000 Size Factor ETF
ALTAR
Score™
5.9% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
19.7x P/Sales
ratio
1.6x
P/BV
ratio
2.3x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
OSIZ tracks an index of US large-cap companies that are selected and weighted to maximize exposure to smaller firms, with marketlike constraints.

FUND BASICS
Category US Equities
Fund Sponsor OppenheimerFunds
Website www.invesco.com
Inception date Nov 08, 2017
Assets (mns) $8
Currency USD
Expense ratio 19 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Inverse Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 653
Wgt avg mkt cap (mns) $9,601
Large cap (>$10bn) 39.6%
Mid cap ($2-10bn) 59.7%
Small cap (<$2bn) 0.7%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
DEXCOM INC 0.4 %
SKYWORKS SOLUTIONS INC 0.4 %
WESTERN DIGITAL CORP 0.4 %
QORVO INC 0.3 %
CDW CORP/DE 0.3 %
ALNYLAM PHARMACEUTICALS INC 0.3 %
TIFFANY & CO 0.3 %
KANSAS CITY SOUTHERN 0.3 %
TRANSUNION 0.3 %
KEYSIGHT TECHNOLOGIES INC 0.3 %
Total 3.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.9 %
BERMUDA 1.5 %
BRITAIN 1.2 %
IRELAND 1.1 %
SWITZERLAND 0.3 %
CHINA 0.3 %
NETHERLANDS 0.2 %
PUERTO RICO 0.2 %
CAYMAN ISLANDS 0.1 %
PANAMA 0.1 %

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.
29.1% 29.1% -- -- 8.7%

Market Correlations
versus... Beta R-squared
S&P500 1.10 91%
MSCI EAFE 1.11 72%
MSCI Emg. Mkts. 0.75 55%

Technical Indicators
Recent close $30.41
30d moving avg. $29.63
Annualized volatility 16.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.8%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $41,902

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco Russell 1000 Size Factor ETF ETF based on the alternatives' overlap in portfolio holdings with OSIZ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: OSIZ Expense: 19 bp ALTAR Score™: 5.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH OSIZ
Ticker Fund
Name
Overlap1
vs OSIZ
(%)
Expense
ratio
(bp)
Savings
vs OSIZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs OSIZ
(%)
SCHM Schwab US Mid Cap 69.9 4 15 6.0 +0.1
JHMM John Hancock Multifactor Mid Cap 67.5 44 -25 5.6 -0.3
IWS iShares Russell Midcap Value 58.2 24 -5 6.5 +0.6
SFYX SoFi Next 500 57.7 0 19 5.4 -0.5
IWR iShares Russell Midcap 57.7 19 0 5.5 -0.4
SMMD iShares Russell 2500 56.4 15 4 5.3 -0.6
USEQ Invesco Russell 1000 Enhanced Equal Weight 55.1 29 -10 6.3 +0.4
VB Vanguard Smallcap ETF 51.7 5 14 5.3 -0.6
EQAL Invesco Russel 1000 Equal Weight 51.3 20 -1 5.5 -0.4
ONEO SPDR Russell 1000 Momentum Focus 49.0 20 -1 6.6 +0.7
VXF Vanguard Extended Market 48.6 7 12 3.2 -2.7
ONEV SPDR Russell 1000 Low Volatility Focus 47.2 20 -1 6.7 +0.8
OMFL Oppenheimer Russell 1000 Dynamic Multifactor 46.5 29 -10 8.8 +2.9
DON WisdomTree Midcap Dividend 44.8 38 -19 7.0 +1.1
DEUS Xtrackers Russell 1000 Comprehensive Factor 44.7 17 2 6.4 +0.5
JPME JPMorgan Diversified Return U.S. Mid Cap Equity 44.7 24 -5 5.6 -0.3
SIZE iShares MSCI USA Size Factor 44.5 15 4 5.9 -0.0
EUSA iShares MSCI USA Equal Weight 43.4 15 4 5.8 -0.1
VO Vanguard Mid-Cap ETF 43.3 4 15 5.4 -0.5
CFA Compass EMP US 500 Volatility Weighted 40.3 35 -16 5.8 -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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Invesco Russell 1000 Size Factor 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 12.9 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 19 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.55
 
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.