Invesco PureBeta FTSE Emerging Markets ETF
ALTAR
Score™
8.9% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
11.7x P/Sales
ratio
1.1x
P/BV
ratio
1.5x Div.
yield
3.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco PureBeta FTSE Emerging Markets Portfolio tracks a market-cap-weighted index of large- and midcap emerging-market companies.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Invesco PowerShares
Website www.invesco.com
Inception date Sep 22, 2017
Assets (mns) $2
Currency USD
Expense ratio 14 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 963
Wgt avg mkt cap (mns) $103,361
Large cap (>$10bn) 69.3%
Mid cap ($2-10bn) 26.5%
Small cap (<$2bn) 2.5%
Developed mkts 8.5%
Emerging mkts 91.4%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 6.9 %
TENCENT HOLDINGS LTD 5.5 %
TAIWAN SEMICONDUCTOR MANUFAC 4.8 %
INVESCO INDIA ETF 3.7 %
ISHARES MSCI SAUDI ARABIA CAPPED E 2.3 %
INFOSYS TECHNOLOGIES-SP ADR 1.7 %
CHINA CONSTRUCTION BANK-H 1.4 %
NASPERS LTD-N SHS 1.4 %
RELIANCE INDS-SPONS GDR 144A 1.4 %
PING AN INSURANCE GROUP CO-H 1.2 %
Total 30.3 %

TOP COUNTRY EXPOSURE
CHINA 33.2 %
TAIWAN 12.9 %
BRAZIL 8.3 %
INDIA 6.7 %
SOUTH AFRICA 5.3 %
HONG KONG 4.9 %
RUSSIA 4.3 %
MEXICO 2.9 %
THAILAND 2.8 %
MALAYSIA 2.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.0% 3.2% -- -- 1.7%

Market Correlations
versus... Beta R-squared
S&P500 0.82 54%
MSCI EAFE 1.08 72%
MSCI Emg. Mkts. 0.94 94%

Technical Indicators
Recent close $23.83
30d moving avg. $25.14
Annualized volatility 15.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.44%
ADV underlying (mns) $31,992

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco PureBeta FTSE Emerging Markets ETF ETF based on the alternatives' overlap in portfolio holdings with PBEE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PBEE Expense: 14 bp ALTAR Score™: 8.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PBEE
Ticker Fund
Name
Overlap1
vs PBEE
(%)
Expense
ratio
(bp)
Savings
vs PBEE
(bp)
ALTAR
Score™
(%)
ALTAR
vs PBEE
(%)
SCHE Schwab Emerging Markets Equity ETF 79.8 13 1 8.2 -0.7
EEM iShares MSCI Emerging Markets ETF 70.0 68 -54 8.1 -0.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 68.9 65 -51 8.1 -0.8
VWO Vanguard FTSE Emerging Markets ETF 68.6 10 4 8.3 -0.6
IEMG iShares Core MSCI Emerging Markets ETF 64.3 14 0 8.5 -0.4
FLAX Franklin FTSE Asia Ex Japan ETF 57.7 19 -5 8.3 -0.6
EEMA iShares MSCI Emerging Markets Asia ETF 56.2 50 -36 8.3 -0.5
SPEM SPDR Portfolio Emerging Markets ETF 55.1 11 3 8.3 -0.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 55.0 30 -16 8.1 -0.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 55.0 68 -54 7.8 -1.1
JHEM John Hancock Multifactor Emerging Markets ETF 53.9 55 -41 8.8 -0.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 50.6 45 -31 8.9 0.0
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 50.5 32 -18 6.8 -2.1
GMF SPDR S&P Emerging Asia Pacific ETF 50.1 49 -35 7.7 -1.2
PXH Invesco FTSE RAFI Emerging Markets ETF 48.8 50 -36 12.3 +3.4
BKF iShares MSCI BRIC ETF 47.7 69 -55 8.2 -0.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 46.3 20 -6 7.6 -1.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 45.2 59 -45 13.2 +4.3
ESGE iShares ESG MSCI EM ETF 43.2 25 -11 8.6 -0.3
EMXC iShares MSCI Emerging Markets ex China ETF 42.2 49 -35 8.4 -0.4

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

Content on this tab for subscribers only

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 PureBeta FTSE Emerging Markets 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 13.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 14 bp
Equals: ALTAR Score 8.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 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.