Invesco High Yield Equity Dividend Achievers ETF
ALTAR
Score™
10.1% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
11.1x P/Sales
ratio
0.7x
P/BV
ratio
1.2x Div.
yield
6.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco High Yield Equity Dividend Achievers Fund seeks investment results that correspond to the price and yield performance of the 50 highest yielding stocks in the Dividend Achievers Index published by Mergent. Companies in the index must have increased dividends annually for a minimum of 10 years.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Dec 09, 2004
Assets (mns) $577
Currency USD
Expense ratio 53 bp
Distributions Monthly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 51
Wgt avg mkt cap (mns) $44,934
Large cap (>$10bn) 54.5%
Mid cap ($2-10bn) 28.7%
Small cap (<$2bn) 16.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
VECTOR GROUP LTD 3.9 %
ALTRIA GROUP INC 3.5 %
PHILIP MORRIS INTERNATIONAL 3.5 %
UNIVERSAL CORP/VA 3.4 %
AT&T INC 2.8 %
GENERAL MILLS INC 2.8 %
MERCURY GENERAL CORP 2.8 %
INTL BUSINESS MACHINES CORP 2.6 %
DUKE ENERGY CORP 2.6 %
VERIZON COMMUNICATIONS INC 2.5 %
Total 30.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 100.0 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-30.9% -24.3% 3.1% 8.8% 3.0%

Market Correlations
versus... Beta R-squared
S&P500 1.12 86%
MSCI EAFE 1.10 81%
MSCI Emg. Mkts. 0.81 64%

Technical Indicators
Recent close $12.35
30d moving avg. $14.63
Annualized volatility 18.4%
Short interest (ETF) 0.0%
Short interest (Underlying) 4.9%
Relative strength (RSI) 34

Liquidity measures
Avg. volume (thou.) 554
Turnover 1.2%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $17,268

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco High Yield Equity Dividend Achievers ETF ETF based on the alternatives' overlap in portfolio holdings with PEY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PEY Expense: 53 bp ALTAR Score™: 10.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PEY
Ticker Fund
Name
Overlap1
vs PEY
(%)
Expense
ratio
(bp)
Savings
vs PEY
(bp)
ALTAR
Score™
(%)
ALTAR
vs PEY
(%)
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 42.8 30 23 12.0 +1.9
DVY iShares Select Dividend ETF 36.8 39 14 10.9 +0.8
SDOG ALPS Sector Dividend Dogs ETF 36.4 40 13 14.1 +4.0
SPYD SPDR S&P 500 High Dividend ETF 32.6 7 46 14.4 +4.3
DIV Global X SuperDividend US ETF 32.6 45 8 15.5 +5.4
FDL First Trust Morningstar Dividend Leaders Index Fund 32.2 45 8 11.2 +1.1
DHS WisdomTree U.S. High Dividend Fund 31.5 38 15 10.6 +0.5
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 28.4 35 18 11.6 +1.5
DTN WisdomTree U.S. Dividend ex-Financials Fund 28.4 38 15 10.3 +0.2
GBDV Global Beta Smart Income ETF 27.2 29 24 16.7 +6.6
SPDV AAM S&P 500 High Dividend Value ETF 25.9 29 24 14.7 +4.6
DURA VanEck Vectors Morningstar Durable Dividend ETF 25.7 29 24 8.5 -1.6
PFM Invesco Dividend Achievers ETF 24.7 54 -1 6.5 -3.5
LVHD Legg Mason Low Volatility High Dividend ETF 24.2 27 26 8.8 -1.3
SCHD Schwab U.S. Dividend Equity ETF 23.5 6 47 9.3 -0.8
VYM Vanguard High Dividend Yield Index ETF 22.8 6 47 9.0 -1.1
DEW WisdomTree Global High Dividend Fund 22.7 58 -5 11.6 +1.5
JDIV JPMorgan U.S. Dividend ETF 22.4 12 41 11.0 +0.9
SDY SPDR S&P Dividend ETF 22.3 35 18 8.2 -1.9
HDV iShares Core High Dividend ETF 22.0 8 45 8.3 -1.8
DLN WisdomTree U.S. LargeCap Dividend Fund 21.9 28 25 8.1 -1.9
JKF iShares Morningstar Large Cap Value ETF 21.8 25 28 9.7 -0.4
RDIV Invesco S&P Ultra Dividend Revenue ETF 21.2 39 14 15.4 +5.3
CDC Victory CEMP US EQ Income Enhanced Volatility Wtd Index ETF 21.0 35 18 11.6 +1.5
FXU First Trust Utilities AlphaDEX Fund 20.5 63 -10 7.1 -3.0
OUSA O'Shares FTSE US Quality Dividend ETF 20.4 48 5 7.1 -3.0
DTD WisdomTree U.S.Total Dividend Fund 20.3 28 25 8.6 -1.5
MGV Vanguard Mega Cap Value ETF 20.2 7 46 9.0 -1.1
QDF FlexShares Quality Dividend Index Fund 20.0 37 16 9.0 -1.1
BVAL Brand Value ETF 19.4 65 -12 9.0 -1.1
JHMU John Hancock Multifactor Utilities ETF 19.3 40 13 6.8 -3.2
USDY Pacific Global US Equity Income ETF 19.3 29 24 10.7 +0.7
SCHV Schwab U.S. Large-Cap Value ETF 19.0 4 49 9.1 -1.0
VTV Vanguard Value Index Fund 18.9 4 49 9.3 -0.8
JHMS John Hancock Multifactor Consumer Staples ETF 18.8 40 13 6.6 -3.5
QDEF FlexShares Quality Dividend Defensive Index Fund 18.6 37 16 8.0 -2.1
RYU Invesco S&P 500 Equal Weight Utilities ETF 18.5 40 13 6.8 -3.3
FUTY Fidelity MSCI Utilities Index ETF 18.5 8 45 6.5 -3.6
FMK First Trust Mega Cap AlphaDEX Fund 18.2 70 -17 7.2 -2.9
IDU iShares U.S. Utilities ETF 18.1 43 10 6.3 -3.8
RNDV US Equity Dividend Select ETF 17.7 50 3 10.7 +0.6
LSLT Salt Low truBeta US Market ETF 17.6 0 53 8.7 -1.4
IWX iShares Russell Top 200 Value ETF 17.5 20 33 8.9 -1.2
XLU Utilities Select Sector SPDR Fund 17.5 13 40 6.6 -3.5
KLCD KFA Large Cap Quality Dividend Index ETF 17.5 41 12 6.8 -3.3
SPYV SPDR Portfolio S&P 500 Value ETF 17.2 4 49 9.4 -0.7
IVE iShares S&P 500 Value ETF 17.1 18 35 9.2 -0.9
DVOP Source Dividend Opportunity ETF 17.1 50 3 11.5 +1.4
FDVV Fidelity Core Dividend ETF 17.0 29 24 9.9 -0.2
IECS iShares Evolved U.S. Consumer Staples ETF 16.9 18 35 6.4 -3.7
WBIY WBI Power Factor High Dividend ETF 16.7 70 -17 20.3 +10.3
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 16.7 75 -22 7.2 -2.9
VOOV Vanguard S&P 500 Value ETF 16.7 15 38 9.3 -0.8
QDYN FlexShares Quality Dividend Dynamic Index Fund 16.7 37 16 9.3 -0.8
IUSV iShares Core S&P U.S. Value ETF 16.5 4 49 9.5 -0.6
TMDV ProShares Russell US Dividend Growers ETF 16.5 35 18 6.7 -3.4
VPU Vanguard Utilities Index Fund 16.4 10 43 6.5 -3.6
VDC Vanguard Consumer Staples Index Fund 16.4 10 43 6.0 -4.1
NOBL ProShares S&P 500 Dividend Aristocrats ETF 16.3 35 18 7.5 -2.5
RHS Invesco S&P 500 Equal Weight Consumer Staples ETF 16.3 40 13 6.8 -3.3
FSTA Fidelity MSCI Consumer Staples Index ETF 16.0 8 45 5.9 -4.2
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 16.0 29 24 8.2 -1.8
NULV Nuveen ESG Large-Cap Value ETF 16.0 35 18 9.5 -0.6
XLP Consumer Staples Select Sector SPDR Fund 15.9 13 40 5.9 -4.2
IYK iShares U.S. Consumer Goods ETF 15.9 42 11 6.8 -3.2
PWV Invesco Dynamic Large Cap Value ETF 15.5 55 -2 10.8 +0.7
PRF Invesco FTSE RAFI US 1000 ETF 15.4 39 14 9.4 -0.7
JXI iShares Global Utilities ETF 14.9 46 7 6.8 -3.3
IWD iShares Russell 1000 Value ETF 14.9 19 34 9.3 -0.8
RAFE PIMCO RAFI ESG U.S. ETF 14.8 29 24 10.2 +0.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 14.7 25 28 8.5 -1.6
VONV Vanguard Russell 1000 Value Index Fund 14.7 8 45 9.4 -0.7
FDRR Fidelity Dividend ETF for Rising Rates 14.4 29 24 9.8 -0.3
FLQL Franklin LibertyQ U.S. Equity ETF 14.4 15 38 8.2 -1.9
SPMV Invesco S&P 500 Minimum Variance ETF 14.2 10 43 7.4 -2.7
REVS Columbia Research Enhanced Value ETF 14.2 19 34 10.0 -0.1
GCOW Pacer Global High Dividend ETF 14.0 60 -7 13.1 +3.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 13.9 25 28 8.6 -1.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 13.8 12 41 6.4 -3.7
EQWL Invesco Russell Top 200 Equal Weight ETF 13.7 25 28 7.7 -2.4
USMV iShares Edge MSCI Min Vol USA ETF 13.7 15 38 6.9 -3.2
JMIN JPMorgan U.S. Minimum Volatility ETF 13.7 12 41 7.3 -2.8
TPHD Timothy Plan High Dividend Stock ETF 13.5 52 1 9.6 -0.4
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 13.4 40 13 8.2 -1.9
JOYY Infusive Compounding Global Equities ETF 13.3 50 3 5.2 -4.9
VALQ American Century STOXX U.S. Quality Value ETF 13.3 29 24 12.0 +1.9
ACSI American Customer Satisfaction Core Alpha ETF 13.2 66 -13 7.5 -2.6
RFDA RiverFront Dynamic US Dividend Advantage ETF 12.9 52 1 8.0 -2.1
ESGS Columbia Sustainable U.S. Equity Income ETF 12.8 35 18 12.3 +2.2
VETS Pacer Military Times Best Employers ETF 12.8 60 -7 8.5 -1.6
HUSV First Trust Horizon Managed Volatility Domestic ETF 12.8 70 -17 6.7 -3.4
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 12.7 49 4 6.6 -3.5
SPLV Invesco S&P 500 Low Volatility ETF 12.7 25 28 6.8 -3.3
KXI iShares Global Consumer Staples ETF 12.6 46 7 5.9 -4.2
VLU SPDR S&P 1500 Value Tilt ETF 12.6 12 41 9.8 -0.3
CCOR Core Alternative ETF 12.4 123 -70 5.4 -4.7
LVUS Hartford Multifactor Low Volatility US Equity ETF 12.4 19 34 7.8 -2.3
FXG First Trust Consumer Staples AlphaDEX Fund 12.4 64 -11 8.5 -1.6
ROUS Hartford Multifactor US Equity ETF 12.3 19 34 9.4 -0.7
JVAL JPMorgan U.S. Value Factor ETF 12.3 12 41 12.2 +2.1

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 High Yield Equity Dividend Achievers ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.0 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 53 bp
Equals: ALTAR Score 10.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.74 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.