Invesco WilderHill Clean Energy ETF
ALTAR
Score™
-0.6% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
223.3x P/Sales
ratio
2.8x
P/BV
ratio
6.9x Div.
yield
0.2%


  • 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) $3,128
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 57
Wgt avg mkt cap (mns) $17,620
Large cap (>$10bn) 24.5%
Mid cap ($2-10bn) 29.8%
Small cap (<$2bn) 33.6%
Developed mkts 77.6%
Emerging mkts 22.4%

TOP TEN HOLDINGS
RENESOLA LTD-ADR 4.7 %
LITHIUM AMERICAS CORP. 2.9 %
DAQO NEW ENERGY CORP. SPONSORED AD 2.7 %
PLUG POWER INC 2.5 %
AZURE POWER GLOBAL LTD. 2.2 %
BALLARD POWER SYSTEMS INC 2.2 %
ORMAT TECHNOLOGIES INC 2.1 %
TESLA MOTORS INC 2.1 %
TPI COMPOSITES, INC. 2.1 %
NIO INC. SPONSORED ADR CLASS A 2.1 %
Total 25.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 59.7 %
CHINA 14.9 %
CANADA 7.0 %
INDIA 2.2 %
CHILE 2.0 %






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.
204.6% 204.6% 36.5% 9.3% 3.7%

Market Correlations
versus... Beta R-squared
S&P500 1.67 58%
MSCI EAFE 1.75 64%
MSCI Emg. Mkts. 1.43 54%

Technical Indicators
Recent close $130.01
30d moving avg. $108.15
Annualized volatility 41.0%
Short interest (ETF) 2.3%
Short interest (Underlying) 7.8%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 657
Turnover 2.7%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $51,105

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: -0.6%


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 41.5 60 10 0.2 +0.8
BNE Blue Horizon BNE ETF 35.0 87 -17 0.9 +1.5
CNRG SPDR S&P Kensho Clean Power ETF 33.9 45 25 0.9 +1.4
PBD Invesco Global Clean Energy ETF 33.2 75 -5 -0.1 +0.5
ACES ALPS Clean Energy ETF 28.9 55 15 0.3 +0.9
CTEC Global X CleanTech ETF 22.7 50 20 0.7 +1.2
SMOG VanEck Vectors Low Carbon Energy ETF 22.6 62 8 1.9 +2.5
ICLN iShares Global Clean Energy ETF 18.7 46 24 1.5 +2.1
SULR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 18.3 79 -9 3.7 +4.3
TAN Invesco Solar ETF 18.3 69 1 0.2 +0.8
PZD Invesco Cleantech ETF 16.4 65 5 3.5 +4.1
KOMP SPDR Kensho New Economies Composite ETF 14.5 20 50 1.6 +2.2
HAIL SPDR S&P Kensho Smart Mobility ETF 14.1 45 25 4.1 +4.7
BATT Amplify Advanced Battery Metals & Materials ETF 13.7 59 11 1.9 +2.5
DRIV Global X Autonomous & Electric Vehicles ETF 13.7 68 2 3.9 +4.5
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 12.9 70 0 2.5 +3.1
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 11.6 70 0 3.4 +4.0
PRN Invesco DWA Industrials Momentum ETF 10.6 60 10 4.8 +5.4
MOON Direxion Moonshot Innovators ETF 9.9 65 5 -3.8 -3.2
WWOW Direxion World Without Waste ETF 8.7 50 20 0.1 +0.7
LIT Global X Lithium & Battery Tech ETF 8.6 75 -5 1.7 +2.3
QMOM Alpha Architect U.S. Quantitative Momentum ETF 8.5 49 21 -0.6 -0.0
AIEQ AI Powered Equity ETF 7.8 87 -17 1.8 +2.4
DWAS Invesco DWA SmallCap Momentum ETF 7.3 60 10 -1.2 -0.7
ETHO Etho Climate Leadership U.S. ETF 7.0 47 23 3.6 +4.2
XSD SPDR S&P Semiconductor ETF 6.9 35 35 3.2 +3.7
FDMO Fidelity Momentum Factor ETF 6.5 29 41 2.4 +3.0
IDRV iShares Self-driving EV & Tech ETF 6.2 47 23 5.2 +5.8
EKAR Innovation Shares NextGen Vehicles & Technology ETF 6.1 95 -25 4.9 +5.5
BTEK BlackRock Future Tech ETF 6.1 88 -18 -0.2 +0.4
MDYG SPDR S&P 400 Mid Cap Growth ETF 5.7 15 55 3.7 +4.3
IJK iShares S&P Mid-Cap 400 Growth ETF 5.7 17 53 3.7 +4.3
KGRN KraneShares MSCI China Environment Index ETF 5.7 80 -10 5.9 +6.5
DWMC AdvisorShares Dorsey Wright Micro-Cap ETF 5.6 132 -62 -2.7 -2.1
SDG iShares Sustainable MSCI Global Impact ETF 5.5 49 21 5.6 +6.2
MOTO SmartETFs Smart Transportation & Technology ETF 5.4 68 2 5.1 +5.7
RPG Invesco S&P 500 Pure Growth ETF 5.3 35 35 2.7 +3.3
VFMO Vanguard U.S. Momentum Factor ETF 5.1 13 57 1.4 +2.0
WOMN Impact Shares YWCA Women's Empowerment ETF 5.0 75 -5 3.5 +4.1
RFG Invesco S&P Midcap 400 Pure Growth ETF 5.0 35 35 3.3 +3.9
ECOZ TrueMark ESG Active Opportunities ETF 4.9 58 12 3.0 +3.6
SIMS SPDR S&P Kensho Intelligent Structures ETF 4.8 45 25 3.7 +4.3
QQQJ Invesco NASDAQ Next Gen 100 ETF 4.8 15 55 2.5 +3.1
IWO iShares Russell 2000 Growth ETF 4.7 24 46 -0.1 +0.5
SDGA Impact Shares Sustainable Development Goals Global ETF 4.6 75 -5 4.7 +5.2
FXN First Trust Energy AlphaDEX Fund 4.6 65 5 1.8 +2.4
NUSC Nuveen ESG Small-Cap ETF 4.4 40 30 4.0 +4.6
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 4.4 15 55 4.2 +4.7
XJH iShares ESG Screened S&P Mid-Cap ETF 4.3 12 58 5.4 +6.0
DTEC ALPS Disruptive Technologies ETF 4.3 50 20 2.6 +3.2
ECNS iShares MSCI China Small-Cap ETF 4.3 59 11 9.5 +10.1
XNTK SPDR NYSE Technology ETF 4.1 35 35 2.7 +3.3
XSMO Invesco S&P SmallCap Momentum ETF 4.1 39 31 3.7 +4.2
VTWG Vanguard Russell 2000 Growth Index Fund 4.1 15 55 0.1 +0.6
PDP Invesco DWA Momentum ETF 4.1 62 8 1.8 +2.4
VXF Vanguard Extended Market Index Fund 4.1 6 64 2.5 +3.1
VAMO Cambria Value & Momentum ETF 4.1 63 7 5.4 +6.0
IVOO Vanguard S&P Mid-Cap 400 ETF 4.1 10 60 5.3 +5.9
CHIQ Global X MSCI China Consumer ETF 4.1 65 5 4.6 +5.2
VBK Vanguard Small-Cap Growth Index Fund 4.0 7 63 1.9 +2.5
FYC First Trust Small Cap Growth AlphaDEX Fund 4.0 70 0 1.7 +2.3
JKK iShares Morningstar Small-Cap Growth ETF 4.0 30 40 0.6 +1.2
PYZ Invesco DWA Basic Materials Momentum ETF 3.9 60 10 4.2 +4.8
JMOM JPMorgan U.S. Momentum Factor ETF 3.9 12 58 3.0 +3.5
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 3.8 7 63 3.9 +4.5
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF 3.8 60 10 3.6 +4.2
ARKQ Ark Industrial Innovation ETF 3.7 75 -5 0.3 +0.9
FNI First Trust Chindia ETF 3.7 60 10 2.4 +2.9
FNY First Trust Mid Cap Growth AlphaDEX Fund 3.7 70 0 1.6 +2.2
DFAE Dimensional Emerging Core Equity Market ETF 3.7 35 35 6.9 +7.5
AADR AdvisorShares Dorsey Wright ADR ETF 3.6 110 -40 3.5 +4.1
PGJ Invesco Golden Dragon China ETF 3.6 70 0 3.7 +4.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 3.6 75 -5 2.0 +2.6
SLYG SPDR S&P 600 Small Cap Growth ETF 3.6 15 55 4.4 +5.0
AIRR First Trust RBA American Industrial Renaissance ETF 3.4 70 0 5.2 +5.8
PKB Invesco Dynamic Building & Construction ETF 3.4 59 11 5.1 +5.7
ITEQ BlueStar Israel Technology ETF 3.4 75 -5 1.5 +2.0
VAW Vanguard Materials Index Fund 3.4 10 60 5.0 +5.6
PTF Invesco DWA Technology Momentum ETF 3.4 60 10 -0.7 -0.2
SCHM Schwab U.S. Mid-Cap ETF 3.4 4 66 5.0 +5.6
PSCT Invesco S&P SmallCap Information Technology ETF 3.3 29 41 4.2 +4.8
FMAT Fidelity MSCI Materials Index ETF 3.3 8 62 5.0 +5.5
RZG Invesco S&P Smallcap 600 Pure Growth ETF 3.3 35 35 3.8 +4.4
FXZ First Trust Materials AlphaDEX Fund 3.3 65 5 5.7 +6.3
NOBL ProShares S&P 500 Dividend Aristocrats ETF 3.3 35 35 5.7 +6.3
JHMA John Hancock Multifactor Materials ETF 3.3 40 30 5.3 +5.9
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 3.3 75 -5 5.3 +5.8
XLB Materials Select Sector SPDR Fund 3.3 13 57 4.8 +5.3
RTM Invesco S&P 500 Equal Weight Materials ETF 3.3 40 30 4.7 +5.3
IYM iShares U.S. Basic Materials ETF 3.3 43 27 4.4 +5.0
NVQ QRAFT AI-Enhanced US Next Value ETF 3.3 75 -5 6.6 +7.1
NACP Impact Shares NAACP Minority Empowerment ETF 3.3 49 21 4.7 +5.3
MTUM iShares MSCI USA Momentum Factor ETF 3.2 15 55 2.2 +2.8
VTWO Vanguard Russell 2000 Index Fund 3.2 10 60 2.7 +3.3
SFYX Sofi Next 500 ETF 3.2 0 70 4.8 +5.4
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 3.1 17 53 4.0 +4.6
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 3.1 29 41 4.2 +4.8
MDY SPDR S&P Midcap 400 ETF Trust 3.1 23 47 5.1 +5.7
SPMD SPDR Portfolio Mid Cap ETF 3.1 5 65 5.3 +5.9

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 0.7 %
Divided by: Fwd. P/BV 6.4 x
Less: Expense ratio 70 bp
Equals: ALTAR Score -0.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 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.