Invesco DWA Momentum ETF
ALTAR
Score™
3.7% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
27.8x P/Sales
ratio
3.6x
P/BV
ratio
5.9x Div.
yield
0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco DWA Technical Leaders Portfolio seeks investment results that correspond generally to an equity index called the Dorsey Wright Technical Leaders Index, which is constructed according to the firms proprietary methodology based on technical analysis.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Mar 01, 2007
Assets (mns) $1,735
Currency USD
Expense ratio 62 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Momentum
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $101,378
Large cap (>$10bn) 82.1%
Mid cap ($2-10bn) 18.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 3.2 %
AMERICAN TOWER CORP-CL A 2.9 %
MASTERCARD INC-CLASS A 2.7 %
ANSYS INC 2.5 %
WR BERKLEY CORP 2.4 %
ROPER INDUSTRIES INC 2.3 %
O'REILLY AUTOMOTIVE INC 2.3 %
WEST PHARMACEUTICAL SERVICES 2.2 %
PAYCOM SOFTWARE INC 2.1 %
SHERWIN-WILLIAMS CO/THE 2.0 %
Total 24.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.2 %
BRITAIN 1.4 %
IRELAND 1.0 %
BERMUDA 0.8 %
SWITZERLAND 0.6 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
2.5% 25.9% 10.4% 14.5% 8.3%

Market Correlations
versus... Beta R-squared
S&P500 0.99 79%
MSCI EAFE 0.81 44%
MSCI Emg. Mkts. 0.52 31%

Technical Indicators
Recent close $61.95
30d moving avg. $67.57
Annualized volatility 13.5%
Short interest (ETF) 0.2%
Short interest (Underlying) 4.1%
Relative strength (RSI) 44

Liquidity measures
Avg. volume (thou.) 111
Turnover 0.4%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $41,080

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PDP Expense: 62 bp ALTAR Score™: 3.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PDP
Ticker Fund
Name
Overlap1
vs PDP
(%)
Expense
ratio
(bp)
Savings
vs PDP
(bp)
ALTAR
Score™
(%)
ALTAR
vs PDP
(%)
FCTR First Trust Lunt U.S. Factor Rotation ETF 37.7 65 -3 3.6 -0.1
FTC First Trust Large Cap Growth AlphaDEX Fund 33.7 61 1 3.5 -0.1
RPG Invesco S&P 500 Pure Growth ETF 29.2 35 27 5.2 +1.6
DWAQ Invesco DWA NASDAQ Momentum ETF 27.5 60 2 0.7 -2.9
JMOM JPMorgan U.S. Momentum Factor ETF 27.3 12 50 4.5 +0.9
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 25.0 99 -37 4.0 +0.4
FDMO Fidelity Momentum Factor ETF 24.9 29 33 4.5 +0.9
MTUM iShares Edge MSCI USA Momentum Factor ETF 24.6 15 47 4.8 +1.1
PRN Invesco DWA Industrials Momentum ETF 24.4 60 2 12.6 +9.0
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 24.1 29 33 4.8 +1.2
JKE iShares Morningstar Large-Cap Growth ETF 23.7 25 37 4.0 +0.3
SCHG Schwab U.S. Large-Cap Growth ETF 23.7 4 58 4.9 +1.2
OMOM Invesco Russell 1000 Momentum Factor ETF 23.3 19 43 4.9 +1.2
IWP iShares Russell Mid-Cap Growth ETF 23.1 24 38 4.9 +1.3
VUG Vanguard Growth Index Fund 22.7 4 58 4.8 +1.1
VONG Vanguard Russell 1000 Growth Index Fund 22.6 8 54 5.0 +1.4
IWF iShares Russell 1000 Growth ETF 22.4 19 43 4.9 +1.3
JKH iShares Morningstar Mid-Cap Growth ETF 22.3 30 32 3.0 -0.7
FAD First Trust Multi Cap Growth AlphaDEX Fund 22.1 66 -4 3.3 -0.4
MGK Vanguard Mega Cap Growth ETF 22.1 7 55 4.9 +1.3

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 DWA Momentum 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 24.6 %
Divided by: Fwd. P/BV 5.8 x
Less: Expense ratio 62 bp
Equals: ALTAR Score 3.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.56
 
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.