Invesco Global Clean Energy ETF
ALTAR
Score™
-0.1% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
86.1x P/Sales
ratio
3.0x
P/BV
ratio
4.4x Div.
yield
0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco Global Clean Energy Portfolio seeks to track the investment performance of the WilderHill New Energy Global Innovation Index, a modified equal-weighted index.

FUND BASICS
Category Global Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jun 13, 2007
Assets (mns) $447
Currency USD
Expense ratio 75 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 103
Wgt avg mkt cap (mns) $6,961
Large cap (>$10bn) 24.3%
Mid cap ($2-10bn) 42.9%
Small cap (<$2bn) 23.3%
Developed mkts 72.6%
Emerging mkts 24.7%

TOP TEN HOLDINGS
RENESOLA LTD-ADR 2.5 %
LITHIUM AMERICAS CORP. 1.8 %
PLUG POWER INC 1.7 %
FUELCELL ENERGY, INC. 1.5 %
BALLARD POWER SYSTEMS INC 1.4 %
ITM POWER PLC 1.3 %
FLAT GLASS GROUP CO., LTD. CLASS H 1.2 %
GANFENG LITHIUM CO., LTD. CLASS H 1.2 %
XEBEC ADSORPTION INC. 1.2 %
SUNPOWER CORP 1.2 %
Total 15.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 23.1 %
CHINA 12.9 %
CANADA 8.4 %
GERMANY 4.7 %
SPAIN 3.7 %
SOUTH KOREA 3.5 %
DENMARK 2.5 %
ITALY 2.5 %
UNITED KINGDOM 2.3 %
TAIWAN 2.1 %

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.
145.3% 145.3% 27.1% 11.2% 3.3%

Market Correlations
versus... Beta R-squared
S&P500 1.36 66%
MSCI EAFE 1.45 74%
MSCI Emg. Mkts. 1.25 71%

Technical Indicators
Recent close $40.20
30d moving avg. $35.12
Annualized volatility 31.4%
Short interest (ETF) 1.0%
Relative strength (RSI) 77

Liquidity measures
Avg. volume (thou.) 197
Turnover 1.8%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $23,741

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PBD Expense: 75 bp ALTAR Score™: -0.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PBD
Ticker Fund
Name
Overlap1
vs PBD
(%)
Expense
ratio
(bp)
Savings
vs PBD
(bp)
ALTAR
Score™
(%)
ALTAR
vs PBD
(%)
BNE Blue Horizon BNE ETF 36.3 87 -12 0.9 +1.0
PBW Invesco WilderHill Clean Energy ETF 33.2 70 5 -0.6 -0.5
CTEC Global X CleanTech ETF 29.9 50 25 0.7 +0.8
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 25.3 60 15 0.2 +0.3
ICLN iShares Global Clean Energy ETF 23.9 46 29 1.5 +1.6
SMOG VanEck Vectors Low Carbon Energy ETF 20.2 62 13 1.9 +2.0
CNRG SPDR S&P Kensho Clean Power ETF 19.5 45 30 0.9 +1.0
ACES ALPS Clean Energy ETF 18.7 55 20 0.3 +0.4
TAN Invesco Solar ETF 18.6 69 6 0.2 +0.3
SULR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 15.2 79 -4 3.7 +3.8
PZD Invesco Cleantech ETF 14.3 65 10 3.5 +3.6
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 12.7 70 5 2.5 +2.6
FAN First Trust Global Wind Energy ETF 11.6 62 13 3.7 +3.8
KOMP SPDR Kensho New Economies Composite ETF 10.9 20 55 1.6 +1.7
BATT Amplify Advanced Battery Metals & Materials ETF 10.1 59 16 1.9 +2.0
YLCO Global X YieldCo Index ETF 10.0 65 10 3.9 +4.0
DRIV Global X Autonomous & Electric Vehicles ETF 9.9 68 7 3.9 +4.0
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 7.6 70 5 3.4 +3.6
SDG iShares Sustainable MSCI Global Impact ETF 7.5 49 26 5.6 +5.7
DTEC ALPS Disruptive Technologies ETF 7.5 50 25 2.6 +2.8
PRN Invesco DWA Industrials Momentum ETF 7.2 60 15 4.8 +5.0
DWAS Invesco DWA SmallCap Momentum ETF 7.0 60 15 -1.2 -1.1
LIT Global X Lithium & Battery Tech ETF 6.2 75 0 1.7 +1.8
DFAE Dimensional Emerging Core Equity Market ETF 6.2 35 40 6.9 +7.0
KGRN KraneShares MSCI China Environment Index ETF 5.9 80 -5 5.9 +6.0
MOON Direxion Moonshot Innovators ETF 5.6 65 10 -3.8 -3.7
IMOM Alpha Architect International Quantitative Momentum ETF 4.7 59 16 2.6 +2.8
PIE Invesco DWA Emerging Markets Momentum ETF 4.5 90 -15 1.8 +1.9
DWCR Arrow DWA Country Rotation ETF 4.4 116 -41 3.5 +3.6
ETHO Etho Climate Leadership U.S. ETF 4.4 47 28 3.6 +3.7
DFAI Dimensional International Core Equity Market ETF 4.4 18 57 6.3 +6.5
MDYG SPDR S&P 400 Mid Cap Growth ETF 4.4 15 60 3.7 +3.8
IJK iShares S&P Mid-Cap 400 Growth ETF 4.4 17 58 3.7 +3.8
AIEQ AI Powered Equity ETF 4.3 87 -12 1.8 +1.9
FCA First Trust China AlphaDEX Fund 4.2 80 -5 12.6 +12.7
IDRV iShares Self-driving EV & Tech ETF 4.1 47 28 5.2 +5.3
FYC First Trust Small Cap Growth AlphaDEX Fund 4.1 70 5 1.7 +1.8
SDGA Impact Shares Sustainable Development Goals Global ETF 4.0 75 0 4.7 +4.8
QQQJ Invesco NASDAQ Next Gen 100 ETF 4.0 15 60 2.5 +2.6
EKAR Innovation Shares NextGen Vehicles & Technology ETF 4.0 95 -20 4.9 +5.0
IWO iShares Russell 2000 Growth ETF 4.0 24 51 -0.1 +0.0
GLIF AGFiQ Global Infrastructure ETF 4.0 45 30 4.8 +4.9
QMOM Alpha Architect U.S. Quantitative Momentum ETF 3.9 49 26 -0.6 -0.5
XSD SPDR S&P Semiconductor ETF 3.8 35 40 3.2 +3.3
FEP First Trust Europe AlphaDEX Fund 3.8 80 -5 7.4 +7.5
NUSC Nuveen ESG Small-Cap ETF 3.8 40 35 4.0 +4.1
BTEK BlackRock Future Tech ETF 3.8 88 -13 -0.2 -0.0
VBK Vanguard Small-Cap Growth Index Fund 3.7 7 68 1.9 +2.0
XJH iShares ESG Screened S&P Mid-Cap ETF 3.7 12 63 5.4 +5.5
NUEM Nuveen ESG Emerging Markets Equity ETF 3.7 45 30 5.4 +5.5
IVOO Vanguard S&P Mid-Cap 400 ETF 3.6 10 65 5.3 +5.4
PIZ Invesco DWA Developed Markets Momentum ETF 3.6 81 -6 4.4 +4.5
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 3.6 7 68 3.9 +4.0
IMTM iShares Edge MSCI Intl Momentum Factor ETF 3.6 30 45 4.1 +4.2
FEUZ First Trust Eurozone AlphaDEX ETF 3.6 80 -5 6.9 +7.0
VTWG Vanguard Russell 2000 Growth Index Fund 3.5 15 60 0.1 +0.2
HAIL SPDR S&P Kensho Smart Mobility ETF 3.4 45 30 4.1 +4.2
WOMN Impact Shares YWCA Women's Empowerment ETF 3.4 75 0 3.5 +3.6
FDMO Fidelity Momentum Factor ETF 3.4 29 46 2.4 +2.6
FEM First Trust Emerging Markets AlphaDEX Fund 3.4 80 -5 10.3 +10.5
EMXF iShares ESG Advanced MSCI EM ETF 3.3 16 59 7.1 +7.2
UIVM VictoryShares USAA MSCI International Value Momentum ETF 3.2 35 40 7.6 +7.7
RFG Invesco S&P Midcap 400 Pure Growth ETF 3.2 35 40 3.3 +3.4
RFDI First Trust Riverfront Dynamic Developed International ETF 3.1 83 -8 5.1 +5.2
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 3.1 15 60 4.2 +4.3
VTWO Vanguard Russell 2000 Index Fund 3.0 10 65 2.7 +2.8
VFMO Vanguard U.S. Momentum Factor ETF 3.0 13 62 1.4 +1.5
BICK First Trust BICK Index Fund 3.0 64 11 3.2 +3.3
RBIN Nationwide Risk-Based International Equity ETF 3.0 42 33 6.0 +6.2
EWGS iShares MSCI Germany Small Cap ETF 3.0 59 16 5.8 +5.9
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 3.0 29 46 4.2 +4.4
PGJ Invesco Golden Dragon China ETF 2.9 70 5 3.7 +3.8
NVQ QRAFT AI-Enhanced US Next Value ETF 2.9 75 0 6.6 +6.7
CHIQ Global X MSCI China Consumer ETF 2.9 65 10 4.6 +4.7
HAP VanEck Vectors Natural Resources ETF 2.9 50 25 4.8 +4.9
IWM iShares Russell 2000 ETF 2.9 19 56 2.5 +2.6
JKK iShares Morningstar Small-Cap Growth ETF 2.8 30 45 0.6 +0.7
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund 2.8 80 -5 8.8 +8.9
WWOW Direxion World Without Waste ETF 2.8 50 25 0.1 +0.2
FYX First Trust Small Cap Core AlphaDEX Fund 2.8 63 12 5.4 +5.5
MDY SPDR S&P Midcap 400 ETF Trust 2.8 23 52 5.1 +5.2
SPMD SPDR Portfolio Mid Cap ETF 2.8 5 70 5.3 +5.4
IJH iShares Core S&P Mid-Cap ETF 2.8 5 70 5.3 +5.4
NACP Impact Shares NAACP Minority Empowerment ETF 2.8 49 26 4.7 +4.8
SMEZ SPDR EURO STOXX Small Cap ETF 2.8 45 30 6.3 +6.4
IVOV Vanguard S&P Mid-Cap 400 Value ETF 2.7 15 60 6.7 +6.8
XSMO Invesco S&P SmallCap Momentum ETF 2.7 39 36 3.7 +3.8
FNI First Trust Chindia ETF 2.7 60 15 2.4 +2.5
BFTR Future Innovators ETF 2.7 80 -5 -1.5 -1.4
FDT First Trust Developed Markets ex-US Alphadex Fund 2.7 80 -5 7.5 +7.6
ESGE iShares ESG Aware MSCI EM ETF 2.7 25 50 6.9 +7.0
IEUS iShares MSCI Europe Small-Cap ETF 2.6 40 35 6.6 +6.7
LDEM iShares ESG MSCI EM Leaders ETF 2.6 16 59 6.3 +6.5
DFE WisdomTree Europe SmallCap Dividend Fund 2.6 58 17 9.1 +9.3
SCHA Schwab U.S. Small-Cap ETF 2.6 4 71 3.6 +3.7
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF 2.6 60 15 3.6 +3.7
ITEQ BlueStar Israel Technology ETF 2.6 75 0 1.5 +1.6
IDMO Invesco S&P International Developed Momentum ETF 2.6 26 49 3.7 +3.8
FPXE First Trust IPOX Europe Equity Opportunities ETF 2.6 70 5 1.4 +1.5

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 Global Clean Energy ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 2.7 %
Divided by: Fwd. P/BV 4.2 x
Less: Expense ratio 75 bp
Equals: ALTAR Score -0.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.48
 
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.