Invesco PureBeta MSCI USA Small Cap
ALTAR
Score™
5.1% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
23.8x P/Sales
ratio
1.3x
P/BV
ratio
2.3x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco PureBeta MSCI USA Small Cap Portfolio ETF tracks a market-cap-selected and -weighted index of small-cap US stocks.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.invesco.com
Inception date Sep 22, 2017
Assets (mns) $3
Currency USD
Expense ratio 6 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 1766
Wgt avg mkt cap (mns) $3,863
Large cap (>$10bn) 1.1%
Mid cap ($2-10bn) 72.5%
Small cap (<$2bn) 26.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FAIR ISAAC CORP 0.3 %
TRADE DESK, INC. CLASS A 0.3 %
COUPA SOFTWARE, INC. 0.3 %
ASPEN TECHNOLOGY INC 0.3 %
WEX INC 0.3 %
BRIGHT HORIZONS FAMILY SOLUT 0.3 %
ZENDESK INC 0.3 %
CARLISLE COS INC 0.3 %
GAMING AND LEISURE PROPERTIE 0.3 %
UNIVERSAL DISPLAY CORP 0.3 %
Total 2.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.4 %
BERMUDA 0.9 %
BRITAIN 0.8 %
IRELAND 0.5 %
PUERTO RICO 0.3 %
CAYMAN ISLANDS 0.3 %
NETHERLANDS 0.2 %
ISRAEL 0.2 %
SWITZERLAND 0.2 %
CANADA 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.
26.6% 26.6% -- -- 8.5%

Market Correlations
versus... Beta R-squared
S&P500 1.06 71%
MSCI EAFE 1.02 50%
MSCI Emg. Mkts. 0.67 37%

Technical Indicators
Recent close $29.27
30d moving avg. $28.56
Annualized volatility 17.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $34,909

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PBSM Expense: 6 bp ALTAR Score™: 5.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PBSM
Ticker Fund
Name
Overlap1
vs PBSM
(%)
Expense
ratio
(bp)
Savings
vs PBSM
(bp)
ALTAR
Score™
(%)
ALTAR
vs PBSM
(%)
VB Vanguard Smallcap ETF 78.3 5 1 5.3 +0.2
SCHA Schwab U.S. Small-Cap 77.5 4 2 4.7 -0.3
SPSM SPDR Portfolio Small Cap 73.1 5 1 4.5 -0.5
ESML iShares MSCI USA Small-Cap ESG Optimized 66.0 17 -11 4.6 -0.5
VXF Vanguard Extended Market 64.4 7 -1 3.2 -1.9
SPMD SPDR Portfolio Mid Cap 62.1 5 1 6.0 +1.0
VTWO Vanguard Russell 2000 55.2 15 -9 3.5 -1.6
IWM iShares Russell 2000 55.2 19 -13 3.4 -1.7
VBR Vanguard Small-Cap Value ETF 48.4 7 -1 7.3 +2.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity 48.3 20 -14 5.5 +0.5
IUSS Invesco Strategic US Small Company 47.9 23 -17 5.9 +0.8
FNDA Schwab Fundamental Small Cap 47.8 25 -19 5.9 +0.9
SFYX SoFi Next 500 46.2 0 6 5.4 +0.4
FSMD Fidelity Small-Mid Factor ETF 44.9 29 -23 6.1 +1.1
EZM WisdomTree Midcap Earnings 44.7 38 -32 8.2 +3.2
PRFZ Invesco FTSE-RAFI Small-Mid 1500 42.6 39 -33 4.6 -0.5
VBK Vanguard Small-Cap Growth ETF 41.9 7 -1 2.7 -2.4
SCHM Schwab US Mid Cap 41.8 4 2 6.0 +0.9
IJH iShares Core S&P MidCap 40.5 7 -1 6.1 +1.0
MDY S&P MidCap 400 SPDR 40.5 24 -18 5.9 +0.8

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

  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 PureBeta MSCI USA Small Cap
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 10.7 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 6 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 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.