Invesco WilderHill Clean Energy
ALTAR
Score™
-1.8% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
-85.6x P/Sales
ratio
1.1x
P/BV
ratio
2.6x Div.
yield
1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco WilderHill Clean Energy Portfolio (Fund) seeks to replicate, before fees and expenses, the WilderHill Clean Energy Index, consisting of companies that focus on greener and generally renewable sources of energy and technologies.

FUND BASICS
Category Global Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Mar 03, 2005
Assets (mns) $186
Currency USD
Expense ratio 70 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 Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 41
Wgt avg mkt cap (mns) $5,399
Large cap (>$10bn) 6.4%
Mid cap ($2-10bn) 40.8%
Small cap (<$2bn) 50.8%
Developed mkts 89.3%
Emerging mkts 10.8%

TOP TEN HOLDINGS
BLOOM ENERGY CORPORATION CLASS A 4.9 %
TESLA MOTORS INC 3.9 %
VEECO INSTRUMENTS INC 3.4 %
PLUG POWER INC 3.1 %
BALLARD POWER SYSTEMS INC 3.1 %
QUANTA SERVICES INC 3.1 %
RENEWABLE ENERGY GROUP INC 3.0 %
UNIVERSAL DISPLAY CORP 3.0 %
MYR GROUP INC/DELAWARE 2.9 %
LIVENT CORPORATION 2.9 %
Total 33.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 81.9 %
CHINA 6.0 %
CANADA 4.8 %
BRITAIN 2.6 %
CHILE 2.2 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
37.1% 27.0% 1.1% -3.2% -4.8%

Market Correlations
versus... Beta R-squared
S&P500 1.17 52%
MSCI EAFE 1.04 35%
MSCI Emg. Mkts. 0.74 29%

Technical Indicators
Recent close $30.35
30d moving avg. $29.71
Annualized volatility 19.6%
Short interest (ETF) 1.3%
Short interest (Underlying) 7.8%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 28
Turnover 0.5%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $3,119

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PBW Expense: 70 bp ALTAR Score™: -1.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PBW
Ticker Fund
Name
Overlap1
vs PBW
(%)
Expense
ratio
(bp)
Savings
vs PBW
(bp)
ALTAR
Score™
(%)
ALTAR
vs PBW
(%)
QCLN First Trust NASDAQ Clean Edge Green Energy 45.4 60 10 1.5 +3.3
XKCP SPDR Kensho Clean Power 34.8 45 25 3.0 +4.8
ACES ALPS Clean Energy 33.2 65 5 0.7 +2.6
ICLN iShares S&P Global Clean Energy 26.8 46 24 4.1 +5.9
PBD Invesco Gbl Clean Energy 25.3 75 -5 -1.5 +0.3
TAN Invesco Global Solar Energy 22.4 70 0 -3.4 -1.6
GEX VanEck Vectors Global Alternative Energy 19.0 63 7 4.1 +5.9
PZD Invesco Cleantech 17.8 68 2 4.9 +6.7
BOON NYSE Pickens Oil Response 15.7 85 -15 3.5 +5.3
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure 15.4 70 0 5.2 +7.0
XKST SPDR Kensho Smart Mobility 12.5 45 25 6.3 +8.1
LIT Global X Lithium & Battery Tech ETF 11.4 75 -5 5.3 +7.2
KOMP SPDR Kensho New Economies Composite 9.6 20 50 3.8 +5.6
GMAN Goldman Sachs Motif Manufacturing Revolution 9.2 50 20 4.7 +6.6
XSD SPDR S&P Semiconductors 8.9 35 35 5.0 +6.8
KARS KraneShares Electric Vehicles & Future Mobility Index 8.4 70 0 6.8 +8.6
BATT Amplify Advanced Battery Metals & Materials 7.4 72 -2 4.3 +6.1
FAN First Trust Global Wind 5.7 60 10 5.7 +7.5
PSCT Invesco S&P Small Cap Information Technology 5.5 29 41 5.4 +7.2
EKAR Innovation Shares NextGen Vehicles & Technology 5.4 95 -25 7.1 +9.0

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 WilderHill Clean Energy
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 -2.8 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 70 bp
Equals: ALTAR Score -1.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.54
 
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.