Invesco PureBeta MSCI USA ETF
ALTAR
Score™		 5.4% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 24.6x P/Sales
ratio		 2.4x
P/BV
ratio		 3.2x Div.
yield		 1.9%


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

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.invesco.com
Inception date Sep 22, 2017
Assets (mns) $8
Currency USD
Expense ratio 4 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 634
Wgt avg mkt cap (mns) $341,615
Large cap (>$10bn) 96.2%
Mid cap ($2-10bn) 3.8%
Small cap (<$2bn) 0.0%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
APPLE INC 5.3 %
MICROSOFT CORP 5.0 %
AMAZON.COM INC 3.9 %
FACEBOOK 2.0 %
ALPHABET INC. CLASS C 1.7 %
ALPHABET INC. CLASS A 1.6 %
JOHNSON & JOHNSON 1.5 %
VISA INC-CLASS A SHARES 1.3 %
JPMORGAN CHASE & CO 1.2 %
PROCTER & GAMBLE CO/THE 1.1 %
Total 24.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.2 %
IRELAND 1.6 %
BRITAIN 1.1 %
SWITZERLAND 0.4 %
BERMUDA 0.2 %
ARGENTINA 0.2 %
CANADA 0.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-5.3% 11.8% -- -- 9.3%

Market Correlations
versus... Beta R-squared
S&P500 0.93 97%
MSCI EAFE 0.95 85%
MSCI Emg. Mkts. 0.71 71%

Technical Indicators
Recent close $30.54
30d moving avg. $29.01
Annualized volatility 17.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 5
Turnover 2.0%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $284,869

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco PureBeta MSCI USA ETF ETF based on the alternatives' overlap in portfolio holdings with PBUS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PBUS Expense: 4 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PBUS
Ticker Fund
Name		 Overlap1
vs PBUS
(%)		 Expense
ratio
(bp)		 Savings
vs PBUS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs PBUS
(%)
BBUS JP Morgan Betabuilders U.S. Equity ETF 97.2 2 2 5.4 +0.0
VV Vanguard Large-Cap Index Fund 96.9 4 0 5.4 -0.0
SCHX Schwab U.S. Large-Cap ETF 96.5 3 1 5.4 0.0
PBP Invesco S&P 500 BuyWrite ETF 95.2 49 -45 5.1 -0.3
IVV iShares Core S&P 500 ETF 94.9 4 0 5.5 +0.1
SPLG SPDR Portfolio Large Cap ETF 94.9 3 1 5.5 +0.1
SPY SPDR S&P 500 ETF Trust 94.9 9 -5 5.5 +0.1
HSPX Global X S&P 500 Covered Call ETF 94.9 65 -61 5.0 -0.5
VOO VANGUARD S&P 500 ETF 94.4 3 1 5.5 +0.1
IWB iShares Russell 1000 ETF 94.0 15 -11 5.3 -0.1
SCHK Schwab 1000 Index ETF 93.6 5 -1 5.4 -0.0
VONE Vanguard Russell 1000 ETF 93.1 8 -4 5.4 -0.0
IYY iShares Dow Jones U.S. ETF 92.7 20 -16 5.3 -0.2
SPXE ProShares S&P 500 Ex-Energy ETF 92.3 27 -23 5.4 +0.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 92.1 20 -16 5.5 +0.1
SPTM SPDR Portfolio Total Stock Market ETF 92.1 3 1 5.6 +0.2
SCHB Schwab U.S. Broad Market ETF 89.1 3 1 5.4 -0.1
VTI Vanguard Total Stock Market Index Fund 88.9 3 1 5.3 -0.1
ITOT iShares Core S&P Total U.S. Stock Market ETF 88.8 3 1 5.3 -0.1
IWV iShares Russell 3000 ETF 88.6 20 -16 5.2 -0.3
VTHR Vanguard Russell 3000 Index Fund 88.0 10 -6 5.3 -0.2
ESGV Vanguard ESG U.S. Stock ETF 84.3 12 -8 5.3 -0.1
MGC Vanguard Mega Cap Index Fund 83.6 7 -3 5.3 -0.1
SPXN ProShares S&P 500 Ex-Financials ETF 82.9 27 -23 5.1 -0.3
SPXV ProShares S&P 500 Ex-Health Care ETF 80.7 27 -23 5.2 -0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 80.4 20 -16 5.1 -0.3
CATH Global X S&P 500 Catholic Values Custom ETF 80.3 29 -25 5.3 -0.1
SFY SoFi Select 500 ETF 79.8 0 4 5.4 -0.0
IWL iShares Russell Top 200 ETF 78.8 15 -11 5.2 -0.2
JHML John Hancock Multifactor Large Cap ETF 78.0 34 -30 5.6 +0.2
EPS WisdomTree U.S. Earnings 500 Fund 75.0 8 -4 6.5 +1.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 75.0 9 -5 5.6 +0.2
ESGU iShares MSCI USA ESG Optimized ETF 74.0 15 -11 5.2 -0.2
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 73.6 25 -21 6.2 +0.8
SNPE Xtrackers S&P 500 ESG ETF 73.0 11 -7 5.2 -0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 73.0 12 -8 5.1 -0.3
TOK iShares MSCI Kokusai ETF 70.6 25 -21 5.8 +0.4
SPXT ProShares S&P 500 Ex-Technology ETF 70.1 27 -23 5.7 +0.3
IQSU IQ Candriam ESG US Equity ETF 70.0 9 -5 5.3 -0.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 69.3 25 -21 6.6 +1.2
AVUS Avantis U.S. Equity ETF 68.8 15 -11 5.8 +0.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 68.1 25 -21 6.6 +1.2
SPYG SPDR Portfolio S&P 500 Growth ETF 67.8 4 0 4.5 -0.9
IVW iShares S&P 500 Growth ETF 67.7 18 -14 4.3 -1.1
IUSG iShares Core S&P US Growth ETF 67.5 4 0 4.5 -0.9
QUS SPDR MSCI USA StrategicFactors ETF 67.5 15 -11 5.9 +0.4
VOOG Vanguard S&P 500 Growth ETF 67.4 10 -6 4.4 -1.0
PRF Invesco FTSE RAFI US 1000 ETF 66.5 39 -35 6.8 +1.4
IUS Invesco Strategic US ETF 65.8 19 -15 6.2 +0.8
URTH iShares MSCI World ETF 65.2 24 -20 5.9 +0.5
VONG Vanguard Russell 1000 Growth Index Fund 63.2 8 -4 4.4 -1.0
IWF iShares Russell 1000 Growth ETF 63.2 19 -15 4.3 -1.1
OEF iShares S&P 100 ETF 63.1 20 -16 5.0 -0.5
DIVB iShares U.S. Dividend & Buyback ETF 61.3 25 -21 6.5 +1.1
DYNF BlackRock U.S. Equity Factor Rotation ETF 60.7 30 -26 6.8 +1.3
ESG FlexShares STOXX US ESG Impact Index Fund 60.6 32 -28 5.2 -0.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 60.6 60 -56 4.5 -0.9
RWL Invesco S&P 500 Revenue ETF 60.3 39 -35 6.8 +1.4
DTD WisdomTree U.S.Total Dividend Fund 60.3 28 -24 6.6 +1.2
DLN WisdomTree U.S. LargeCap Dividend Fund 59.6 28 -24 6.4 +1.0
VLU SPDR S&P 1500 Value Tilt ETF 58.1 12 -8 7.4 +2.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 57.9 15 -11 6.4 +0.9
ACWI iShares MSCI ACWI ETF 57.7 32 -28 6.1 +0.7
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 57.3 29 -25 4.3 -1.1
SCHG Schwab U.S. Large-Cap Growth ETF 56.1 4 0 4.3 -1.1
SPYV SPDR Portfolio S&P 500 Value ETF 55.7 4 0 7.3 +1.9
IUSV iShares Core S&P U.S. Value ETF 55.7 4 0 7.4 +2.0
IVE iShares S&P 500 Value ETF 55.7 18 -14 7.2 +1.8
VOOV Vanguard S&P 500 Value ETF 55.6 15 -11 7.2 +1.8
VUG Vanguard Growth Index Fund 55.6 4 0 4.2 -1.2
EXT WisdomTree U.S. Total Earnings Fund 55.5 28 -24 5.8 +0.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 55.5 20 -16 6.4 +1.0
LOWC SPDR MSCI ACWI Low Carbon Target ETF 55.1 20 -16 6.5 +1.1
RECS Columbia Research Enhanced Core ETF 55.0 15 -11 5.7 +0.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 54.8 29 -25 6.2 +0.8
ESGG FlexShares STOXX Global ESG Impact Index Fund 54.6 42 -38 5.7 +0.2
NACP Impact Shares NAACP Minority Empowerment ETF 53.7 75 -71 4.6 -0.8
IWY iShares Russell Top 200 Growth ETF 53.4 20 -16 4.3 -1.1
DGRO iShares Core Dividend Growth ETF 52.4 8 -4 6.5 +1.1
DSI iShares MSCI KLD 400 Social ETF 52.0 25 -21 5.3 -0.1
QWLD SPDR MSCI World StrategicFactors ETF 52.0 30 -26 6.1 +0.7
VEGN US Vegan Climate ETF 51.8 60 -56 5.3 -0.1
AFLG First Trust Active Factor Large Cap ETF 51.6 55 -51 5.6 +0.2
VT Vanguard Total World Stock Index Fund 51.4 8 -4 6.3 +0.9
XLG Invesco S&P 500 Top 50 ETF 51.2 20 -16 4.7 -0.7
EUSA iShares MSCI USA Equal Weighted ETF 50.3 15 -11 6.1 +0.7
SUSL iShares ESG MSCI USA Leaders ETF 50.2 10 -6 5.4 +0.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 50.2 10 -6 5.5 +0.1
WOMN Impact Shares YWCA Women's Empowerment ETF 50.1 75 -71 4.6 -0.8
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 49.9 9 -5 5.9 +0.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 49.8 9 -5 6.3 +0.9
SIZE iShares Edge MSCI USA Size Factor ETF 49.7 15 -11 6.0 +0.6
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 48.9 49 -45 4.2 -1.2
IWD iShares Russell 1000 Value ETF 48.6 19 -15 7.1 +1.7
VONV Vanguard Russell 1000 Value Index Fund 48.4 8 -4 7.2 +1.8
KRMA Global X Conscious Companies ETF 47.9 43 -39 5.3 -0.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 47.8 19 -15 5.7 +0.3
RSP Invesco S&P 500 Equal Weight ETF 47.7 20 -16 6.9 +1.4
EQWL Invesco Russell Top 200 Equal Weight ETF 47.5 25 -21 6.0 +0.6
MGK Vanguard Mega Cap Growth ETF 47.0 7 -3 4.3 -1.1

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%.

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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 PureBeta MSCI USA 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 16.8 %
Divided by: Fwd. P/BV 3.1 x
Less: Expense ratio 4 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.45 CATEGORY
AVERAGE		 1.53
 
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.