Invesco Dynamic Leisure & Entertainment ETF
ALTAR
Score™
10.3% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
-70.8x P/Sales
ratio
0.8x
P/BV
ratio
1.9x Div.
yield
1.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco Dynamic Leisure and Entertainment ETF tracks a multifactor, tiered equal-weighted index of U.S. entertainment and leisure industry stocks.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jun 23, 2005
Assets (mns) $187
Currency USD
Expense ratio 63 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian BNY Mellon
Weighting Tiered
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 31
Wgt avg mkt cap (mns) $21,838
Large cap (>$10bn) 44.9%
Mid cap ($2-10bn) 34.4%
Small cap (<$2bn) 20.8%
Developed mkts 98.2%
Emerging mkts 1.8%

TOP TEN HOLDINGS
CHIPOTLE MEXICAN GRILL-CL A 8.9 %
WALT DISNEY CO/THE 6.4 %
FOX CORPORATION CLASS A 5.6 %
CBS CORP-CLASS B NON VOTING 5.2 %
HILTON WORLDWIDE HOLDINGS, INC. 5.2 %
SOUTHWEST AIRLINES CO 3.9 %
DOMINO'S PIZZA INC 3.7 %
PENN NATIONAL GAMING INC 3.7 %
LIONS GATE ENTERTAINMENT CORP CLAS 3.6 %
AMC NETWORKS INC-A 3.6 %
Total 49.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.0 %
BERMUDA 3.1 %
BRITAIN 3.0 %
PANAMA 1.8 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-39.0% -38.2% -4.9% 5.9% 5.2%

Market Correlations
versus... Beta R-squared
S&P500 1.37 80%
MSCI EAFE 1.45 77%
MSCI Emg. Mkts. 1.08 67%

Technical Indicators
Recent close $28.80
30d moving avg. $26.16
Annualized volatility 25.7%
Short interest (ETF) 4.1%
Short interest (Underlying) 5.3%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 214
Turnover 3.3%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $9,466

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco Dynamic Leisure & Entertainment ETF ETF based on the alternatives' overlap in portfolio holdings with PEJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PEJ Expense: 63 bp ALTAR Score™: 10.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PEJ
Ticker Fund
Name
Overlap1
vs PEJ
(%)
Expense
ratio
(bp)
Savings
vs PEJ
(bp)
ALTAR
Score™
(%)
ALTAR
vs PEJ
(%)
JETS US Global Jets ETF 18.9 60 3 9.9 -0.4
IEME iShares Evolved U.S. Media & Entertainment ETF 18.8 18 45 7.9 -2.4
EWCO Invesco S&P 500 Equal Weight Communication Services ETF 16.8 40 23 8.2 -2.1
PBS Invesco Dynamic Media ETF 15.4 63 0 -2.4 -12.7
FTXR First Trust Nasdaq Transportation ETF 12.5 60 3 8.5 -1.8
ACSI American Customer Satisfaction Core Alpha ETF 11.5 66 -3 5.3 -5.0
FXD First Trust Consumer Discretionary AlphaDEX Fund 11.3 64 -1 10.5 +0.2
XTN SPDR S&P Transportation ETF 10.6 35 28 6.2 -4.1
IYC iShares U.S. Consumer Services ETF 10.4 42 21 4.6 -5.7
JHCS John Hancock Multifactor Media & Communications ETF 9.7 40 23 5.9 -4.4
PBJ Invesco Dynamic Food & Beverage ETF 9.7 63 0 5.8 -4.5
COWZ Pacer US Cash Cows 100 ETF 8.6 49 14 10.8 +0.5
XLC The Communication Services Select Sector SPDR Fund 8.5 13 50 6.1 -4.2
PEZ Invesco DWA Consumer Cyclicals Momentum ETF 8.2 60 3 3.3 -7.0
IYT iShares Transportation Average ETF 8.2 42 21 6.3 -4.0
QVAL Alpha Architect U.S. Quantitative Value ETF 7.3 49 14 12.7 +2.4
BVAL Brand Value ETF 7.2 65 -2 6.6 -3.7
BJK VanEck Vectors Gaming ETF 7.2 66 -3 6.8 -3.5
FCOM Fidelity MSCI Telecommunication Services Index ETF 6.6 8 55 5.4 -4.9
GENY Principal Millennials Index ETF 6.5 45 18 4.5 -5.8
VOX Vanguard Telecommunication Services Index Fund 6.4 10 53 5.2 -5.1
MILN Global X Millennials Thematic ETF 6.3 50 13 3.3 -7.0
IXP iShares Global Comm Services ETF 5.7 46 17 6.1 -4.2
FOVL iShares Focused Value Factor ETF 5.7 25 38 11.4 +1.1
GURU Global X Guru Index ETF 5.6 75 -12 3.8 -6.5
JHMC John Hancock Multifactor Consumer Discretionary ETF 5.4 40 23 5.2 -5.1
NUMG Nuveen ESG Mid-Cap Growth ETF 5.3 40 23 3.3 -7.0
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 5.1 39 24 6.7 -3.6
RCD Invesco S&P 500 Equal Weight Consumer Discretionary ETF 5.1 40 23 9.0 -1.3
RGI Invesco S&P 500 Equal Weight Industrials ETF 5.0 40 23 6.7 -3.6
PLCY EventShares U.S. Legislative Opportunities ETF 4.7 75 -12 4.1 -6.2
DVP Deep Value ETF 4.7 59 4 18.4 +8.1
JOYY Infusive Compounding Global Equities ETF 4.7 50 13 4.1 -6.2
SHE SPDR SSGA Gender Diversity Index ETF 4.5 20 43 5.8 -4.5
FTA First Trust Large Cap Value AlphaDEX Fund 4.4 60 3 10.4 +0.1
SDGA Impact Shares Sustainable Development Goals Global ETF 4.1 75 -12 5.7 -4.6
MXDU Nationwide Maximum Diversification US Core Equity ETF 3.9 34 29 5.6 -4.7
VSL Volshares Large Capital ETF 3.7 65 -2 5.9 -4.4
CSD Invesco S&P Spin-Off ETF 3.7 62 1 7.8 -2.5
EDOW First Trust Dow 30 Equal Weight ETF 3.7 50 13 6.2 -4.1
SPYB SPDR S&P 500 Buyback ETF 3.6 35 28 10.2 -0.1
SYLD Cambria Shareholder Yield ETF 3.6 59 4 10.5 +0.2
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 3.6 99 -36 2.2 -8.1
RPG Invesco S&P 500 Pure Growth ETF 3.6 35 28 4.7 -5.6
CWS AdvisorShares Focused Equity ETF 3.5 85 -22 5.7 -4.6
FAB First Trust Multi Cap Value AlphaDEX Fund 3.4 71 -8 10.9 +0.6
PMOM Principal Sustainable Momentum Index ETF 3.4 29 34 11.1 +0.8
QVM Arrow QVM Equity Factor ETF 3.4 65 -2 5.4 -4.9
QGRO American Century STOXX U.S. Quality Growth ETF 3.3 29 34 3.2 -7.1
DIA SPDR Dow Jones Industrial Average ETF Trust 3.3 16 47 5.9 -4.4
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 3.2 15 48 5.1 -5.2
FNK First Trust Mid Cap Value AlphaDEX Fund 3.2 70 -7 12.3 +2.1
NULV Nuveen ESG Large-Cap Value ETF 3.2 35 28 7.9 -2.4
RYJ Invesco Raymond James SB-1 Equity ETF 3.0 82 -19 4.0 -6.3
VETS Pacer Military Times Best Employers ETF 3.0 60 3 6.9 -3.4
FEX First Trust Large Cap Core AlphaDEX Fund 3.0 60 3 6.7 -3.6
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 2.9 25 38 7.9 -2.4
TUSA First Trust Total US Market AlphaDEX ETF 2.9 70 -7 6.8 -3.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 2.9 15 48 6.7 -3.6
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 2.9 49 14 11.3 +1.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 2.9 49 14 5.9 -4.4
XLY Consumer Discretionary Select Sector SPDR Fund 2.9 13 50 4.7 -5.6
SPHB Invesco S&P 500 High Beta ETF 2.9 25 38 11.5 +1.2
IWX iShares Russell Top 200 Value ETF 2.9 20 43 7.4 -2.9
RBUS Nationwide Risk-Based U.S. Equity ETF 2.8 30 33 5.3 -5.0
PVAL Principal Contrarian Value Index ETF 2.8 29 34 8.2 -2.1
JHMI John Hancock Multifactor Industrials ETF 2.8 40 23 6.7 -3.6
LSAF LeaderShares AlphaFactor US Core Equity ETF 2.8 75 -12 7.9 -2.4
JKD iShares Morningstar Large-Cap ETF 2.8 20 43 6.2 -4.1
GVIP Goldman Sachs Hedge Industry VIP ETF 2.8 45 18 4.7 -5.6
VCR Vanguard Consumer Discretionary Index Fund 2.8 10 53 4.4 -5.9
ALFA AlphaClone Alternative Alpha ETF 2.8 65 -2 4.1 -6.2
AVUV Avantis U.S. Small Cap Value ETF 2.7 25 38 10.2 -0.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 2.7 29 34 6.6 -3.7
MGV Vanguard Mega Cap Value ETF 2.7 7 56 7.6 -2.7
SYG SPDR MFS Systematic Growth Equity ETF 2.7 60 3 4.8 -5.5
RAFE PIMCO RAFI ESG U.S. ETF 2.7 29 34 8.3 -2.0
SPVM Invesco S&P 500 Value with Momentum ETF 2.7 39 24 10.3 +0.0
FCTR First Trust Lunt U.S. Factor Rotation ETF 2.7 65 -2 5.9 -4.4
FDIS Fidelity MSCI Consumer Discretionary Index ETF 2.7 8 55 4.2 -6.1
IEDI iShares Evolved U.S. Discretionary Spending ETF 2.6 18 45 4.2 -6.1
JKI iShares Morningstar Mid-Cap Value ETF 2.6 30 33 10.6 +0.3
IWP iShares Russell Mid-Cap Growth ETF 2.6 24 39 4.5 -5.8
RFV Invesco S&P Midcap 400 Pure Value ETF 2.6 35 28 11.2 +0.9
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 2.6 12 51 5.0 -5.3
IVOO Vanguard S&P Mid-Cap 400 ETF 2.5 10 53 6.8 -3.5
VTV Vanguard Value Index Fund 2.5 4 59 7.8 -2.5
CLRG IQ Chaikin U.S. Large Cap ETF 2.4 25 38 6.5 -3.8
VOT Vanguard Mid-Cap Growth Index Fund 2.4 7 56 3.8 -6.5
RNLC Large Cap US Equity Select ETF 2.4 60 3 6.8 -3.5
IWD iShares Russell 1000 Value ETF 2.3 19 44 7.6 -2.7
AUSF Global X Adaptive U.S. Factor ETF 2.3 27 36 8.9 -1.4
LRGE ClearBridge Large Cap Growth ESG ETF 2.3 60 3 4.1 -6.2
PDP Invesco DWA Momentum ETF 2.3 62 1 2.9 -7.4
VONV Vanguard Russell 1000 Value Index Fund 2.3 8 55 7.7 -2.6
ABEQ Absolute Core Strategy ETF 2.3 85 -22 4.9 -5.4
RWK Invesco S&P MidCap 400 Revenue ETF 2.3 39 24 8.4 -1.9
RSP Invesco S&P 500 Equal Weight ETF 2.3 20 43 7.5 -2.8
LVUS Hartford Multifactor Low Volatility US Equity ETF 2.3 19 44 6.4 -3.9

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 Dynamic Leisure & Entertainment ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 20.0 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 63 bp
Equals: ALTAR Score 10.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.52
 
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.