Invesco High Yield Equity Dividend Acheivers
ALTAR
Score™
6.3% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.7x P/Sales
ratio
1.1x
P/BV
ratio
2.0x Div.
yield
4.5%


  • 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) $973
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 50
Wgt avg mkt cap (mns) $52,693
Large cap (>$10bn) 54.8%
Mid cap ($2-10bn) 34.0%
Small cap (<$2bn) 11.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
OCCIDENTAL PETROLEUM CORP 4.4 %
VECTOR GROUP LTD 3.8 %
HELMERICH & PAYNE 3.8 %
INVESCO LTD 3.2 %
ALTRIA GROUP INC 3.1 %
UNIVERSAL CORP/VA 2.9 %
MEREDITH CORP 2.7 %
PHILIP MORRIS INTERNATIONAL 2.7 %
AT&T INC 2.6 %
LAZARD LTD-CL A 2.4 %
Total 31.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 100.0 %










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.
24.8% 24.8% 11.0% 13.7% 5.6%

Market Correlations
versus... Beta R-squared
S&P500 0.89 81%
MSCI EAFE 0.84 61%
MSCI Emg. Mkts. 0.53 42%

Technical Indicators
Recent close $19.30
30d moving avg. $18.83
Annualized volatility 11.9%
Short interest (ETF) 0.1%
Short interest (Underlying) 4.9%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 161
Turnover 0.3%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $10,071

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco High Yield Equity Dividend Acheivers 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™: 6.3%


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 39.5 30 23 7.5 +1.2
SDOG ALPS Sector Dividend Dogs 36.8 40 13 9.6 +3.3
DVY iShares Select Dividend 35.9 39 14 7.6 +1.4
FDL First Trust Morningstar Dividend Leaders 31.2 45 8 8.3 +2.1
SPYD SPDR Portfolio S&P 500 High Dividend 30.0 7 46 8.8 +2.5
DHS WisdomTree Equity Income 28.1 38 15 7.6 +1.4
CDC Victory CEMP US EQ Income Enhanced Volatility Wtd 27.3 35 18 7.5 +1.2
CDL Victory CEMP US Large Cap High Div Volatility Wtd 27.2 35 18 7.5 +1.2
DTN WisdomTree Dividend Ex-Financials 26.3 38 15 7.8 +1.5
LVHD Legg Mason Low Volatility High Dividend ETF 24.3 27 26 6.6 +0.3
PFM Invesco Dividend Achievers 24.0 54 -1 5.2 -1.1
FDVV Fidelity Core Dividend 23.9 29 24 6.9 +0.6
OYLD Invesco Russell 1000 Yield Factor ETF 23.3 19 34 6.8 +0.6
DIV Global X SuperDividend US ETF 22.9 45 8 7.1 +0.8
WBIY WBI Power Factor High Dividend 22.5 70 -17 9.7 +3.4
VYM Vanguard High Dividend Yield ETF 22.2 6 47 6.9 +0.7
SDY SPDR S&P Dividend ETF 21.9 35 18 6.4 +0.1
SCHD Schwab US Dividend Equity 21.5 6 47 7.0 +0.8
RDIV Invesco S&P Ultra Dividend Revenue ETF 21.2 39 14 9.9 +3.7
DLN WisdomTree Large Cap Dividend 21.0 28 25 6.3 +0.0

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 Acheivers
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 12.9 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 53 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.78 CATEGORY
AVERAGE
1.55
 
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.