Invesco WilderHill Clean Energy ETF
ALTAR
Score™
-4.7% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
93.4x P/Sales
ratio
1.2x
P/BV
ratio
2.5x Div.
yield
0.7%


  • 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) $300
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) $8,919
Large cap (>$10bn) 6.1%
Mid cap ($2-10bn) 41.9%
Small cap (<$2bn) 50.0%
Developed mkts 88.0%
Emerging mkts 12.0%

TOP TEN HOLDINGS
ENPHASE ENERGY INC 3.5 %
TESLA MOTORS INC 3.4 %
NIO INC. SPONSORED ADR CLASS A 3.2 %
VIVINT SOLAR INC 3.1 %
SOLAREDGE TECHNOLOGIES, INC. 3.1 %
BLOOM ENERGY CORPORATION CLASS A 2.9 %
AMERESCO INC-CL A 2.9 %
SUNRUN INC. 2.9 %
MYR GROUP INC/DELAWARE 2.9 %
TPI COMPOSITES, INC. 2.8 %
Total 30.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 80.7 %
CHINA 6.8 %
CANADA 4.9 %
BRITAIN 2.5 %
CHILE 2.5 %






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.
2.2% 32.4% 6.3% -0.3% -3.4%

Market Correlations
versus... Beta R-squared
S&P500 1.35 62%
MSCI EAFE 1.36 54%
MSCI Emg. Mkts. 1.09 53%

Technical Indicators
Recent close $35.90
30d moving avg. $31.93
Annualized volatility 29.2%
Short interest (ETF) 1.1%
Short interest (Underlying) 7.8%
Relative strength (RSI) 63

Liquidity measures
Avg. volume (thou.) 86
Turnover 1.0%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $19,095

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco WilderHill Clean Energy ETF 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™: -4.7%


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 Index Fund 47.4 60 10 0.6 +5.3
XKCP SPDR Kensho Clean Power ETF 40.1 45 25 -10.8 -6.0
ACES ALPS Clean Energy ETF 34.3 65 5 1.2 +5.9
PBD Invesco Global Clean Energy ETF 32.7 75 -5 2.0 +6.7
ICLN iShares Global Clean Energy ETF 28.8 46 24 3.4 +8.2
TAN Invesco Solar ETF 27.7 71 -1 1.8 +6.5
GEX VanEck Vectors Global Alternative Energy ETF 22.5 63 7 5.0 +9.7
PZD Invesco Cleantech ETF 21.9 68 2 4.8 +9.5
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 18.3 70 0 4.5 +9.2
XKST SPDR Kensho Smart Mobility ETF 13.3 45 25 2.5 +7.2
LIT Global X Lithium & Battery Tech ETF 11.5 75 -5 3.6 +8.3
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 11.4 70 0 6.0 +10.7
KOMP SPDR Kensho New Economies Composite ETF 10.5 20 50 1.6 +6.4
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 10.5 50 20 4.3 +9.0
WOMN Impact Shares YWCA Women's Empowerment ETF 9.8 75 -5 4.6 +9.3
XSD SPDR S&P Semiconductor ETF 9.7 35 35 4.0 +8.7
MOTO SmartETFs Smart Transportation & Technology ETF 8.2 68 2 8.5 +13.2
BATT Amplify Advanced Battery Metals & Materials ETF 8.0 72 -2 3.0 +7.7
NACP Impact Shares NAACP Minority Empowerment ETF 7.1 75 -5 4.6 +9.4
DRIV Global X Autonomous & Electric Vehicles ETF 6.7 68 2 6.1 +10.8
PYZ Invesco DWA Basic Materials Momentum ETF 6.6 60 10 6.1 +10.8
FXZ First Trust Materials AlphaDEX Fund 6.2 65 5 7.4 +12.2
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 6.1 75 -5 2.2 +6.9
SDGA Impact Shares Sustainable Development Goals Global ETF 6.0 75 -5 5.5 +10.2
PSCT Invesco S&P SmallCap Information Technology ETF 5.7 29 41 5.7 +10.4
EKAR Innovation Shares NextGen Vehicles & Technology ETF 5.4 65 5 8.8 +13.5
RTM Invesco S&P 500 Equal Weight Materials ETF 5.3 40 30 6.5 +11.2
RFG Invesco S&P Midcap 400 Pure Growth ETF 5.3 35 35 3.8 +8.5
ITEQ BlueStar Israel Technology ETF 5.2 75 -5 1.1 +5.8
SDG iShares Sustainable MSCI Global Impact ETF 5.2 49 21 6.3 +11.0
KGRN KraneShares MSCI China Environment Index ETF 5.1 80 -10 8.5 +13.2
ISRA VanEck Vectors Israel ETF 5.1 60 10 7.1 +11.8
AIRR First Trust RBA American Industrial Renaissance ETF 5.0 70 0 7.5 +12.2
XKII SPDR Kensho Intelligent Structures ETF 5.0 45 25 6.3 +11.0
IDRV iShares Self-driving EV & Tech ETF 4.4 47 23 7.0 +11.7
YLCO Global X YieldCo Index ETF 4.4 65 5 4.5 +9.3
FDM First Trust Dow Jones Select Microcap Index Fund 4.3 60 10 7.9 +12.6
QMOM Alpha Architect U.S. Quantitative Momentum ETF 4.3 49 21 3.2 +7.9
PXSG Invesco S&P SmallCap Momentum ETF 4.1 39 31 5.3 +10.0
ETHO Etho Climate Leadership U.S. ETF 4.0 47 23 4.4 +9.2
JHMA John Hancock Multifactor Materials ETF 4.0 40 30 7.0 +11.7
IYM iShares U.S. Basic Materials ETF 3.9 42 28 5.6 +10.3
NUSC Nuveen ESG Small-Cap ETF 3.9 40 30 5.0 +9.8
IQM Franklin Intelligent Machines ETF 3.9 50 20 2.2 +6.9
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 3.9 39 31 6.3 +11.0
XKFF SPDR Kensho Final Frontiers ETF 3.8 45 25 5.3 +10.0
XLB Materials Select Sector SPDR Fund 3.8 13 57 6.0 +10.7
VXF Vanguard Extended Market Index Fund 3.7 7 63 3.9 +8.6
VAW Vanguard Materials Index Fund 3.7 10 60 6.3 +11.0
FMAT Fidelity MSCI Materials Index ETF 3.6 8 62 6.2 +11.0
PSCI Invesco S&P SmallCap Industrials ETF 3.6 29 41 6.9 +11.6
FAN First Trust Global Wind Energy ETF 3.6 60 10 6.5 +11.2
FDIS Fidelity MSCI Consumer Discretionary Index ETF 3.5 8 62 3.8 +8.5
CARZ First Trust NASDAQ Global Auto Index Fund 3.4 70 0 15.9 +20.6
FTXR First Trust Nasdaq Transportation ETF 3.4 60 10 6.7 +11.4
IYK iShares U.S. Consumer Goods ETF 3.4 42 28 5.4 +10.1
FMK First Trust Mega Cap AlphaDEX Fund 3.4 70 0 5.3 +10.0
BIBL Inspire ETF 3.4 35 35 4.8 +9.5
FPX First Trust US IPO Index Fund 3.4 59 11 4.2 +8.9
XNTK SPDR Morgan Stanley Technology ETF 3.4 35 35 4.1 +8.8
LOUP Innovator Loup Frontier Tech ETF 3.4 70 0 3.2 +7.9
ARKQ Ark Industrial Innovation ETF 3.4 75 -5 0.8 +5.5
ARKW ARK Web x.0 ETF 3.4 76 -6 -0.8 +3.9
ARKK ARK Innovation ETF 3.4 75 -5 -3.2 +1.5
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 3.3 75 -5 5.8 +10.5
NOBL ProShares S&P 500 Dividend Aristocrats ETF 3.3 35 35 6.2 +10.9
MXI iShares Global Materials ETF 3.1 46 24 6.3 +11.0
PEXL Pacer US Export Leaders ETF 3.1 60 10 6.3 +11.0
IZRL ARK Israel Innovative Technology ETF 3.1 49 21 0.4 +5.1
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 3.0 17 53 4.9 +9.7
VAMO Cambria Value & Momentum ETF 3.0 64 6 7.4 +12.1
ECOZ TrueMark ESG Active Opportunities ETF 2.9 58 12 4.5 +9.2
DTEC ALPS Disruptive Technologies ETF 2.9 50 20 3.5 +8.2
PSCE Invesco S&P SmallCap Energy ETF 2.8 29 41 -2.7 +2.0
PSCM Invesco S&P SmallCap Materials ETF 2.8 29 41 9.7 +14.4
REMX VanEck Vectors Rare Earth/Strategic Metals ETF 2.8 59 11 2.2 +7.0
VCR Vanguard Consumer Discretionary Index Fund 2.7 10 60 3.9 +8.7
IJT iShares S&P Small-Cap 600 Growth ETF 2.7 25 45 5.2 +10.0
SLYG SPDR S&P 600 Small Cap Growth ETF 2.7 15 55 5.4 +10.1
FLM First Trust Global Engineering & Construction ETF 2.7 70 0 10.2 +14.9
VIOG Vanguard S&P Small-Cap 600 Growth ETF 2.7 16 54 5.3 +10.0
FDMO Fidelity Momentum Factor ETF 2.7 29 41 3.9 +8.7
FNY First Trust Mid Cap Growth AlphaDEX Fund 2.7 70 0 2.1 +6.8
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 2.6 29 41 6.0 +10.7
CCOR Core Alternative ETF 2.5 123 -53 4.3 +9.0
PXI Invesco DWA Energy Momentum ETF 2.5 60 10 4.1 +8.8
XTH SPDR S&P Technology Hardware ETF 2.5 35 35 5.4 +10.1
FIW First Trust Water ETF 2.5 55 15 3.9 +8.6
SOIL Global X Fertilizers/Potash ETF 2.5 69 1 5.5 +10.2
JKK iShares Morningstar Small-Cap Growth ETF 2.4 30 40 1.4 +6.1
DIV Global X SuperDividend US ETF 2.4 45 25 9.9 +14.6
JKJ iShares Morningstar Small-Cap ETF 2.4 25 45 6.5 +11.2
VBK Vanguard Small-Cap Growth Index Fund 2.4 7 63 2.6 +7.3
MTUM iShares Edge MSCI USA Momentum Factor ETF 2.4 15 55 4.8 +9.5
XMMO Invesco S&P MidCap Momentum ETF 2.4 39 31 4.4 +9.1
MDYG SPDR S&P 400 Mid Cap Growth ETF 2.4 15 55 4.9 +9.6
IJK iShares S&P Mid-Cap 400 Growth ETF 2.4 24 46 4.8 +9.5
CLRG IQ Chaikin U.S. Large Cap ETF 2.3 25 45 6.2 +10.9
PHO Invesco Water Resources ETF 2.3 60 10 3.9 +8.6
AUSF Global X Adaptive U.S. Factor ETF 2.3 27 43 8.1 +12.9

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 WilderHill 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 -9.8 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 70 bp
Equals: ALTAR Score -4.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.51
 
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.