Invesco DWA Consumer Discretionary Momentum
ALTAR
Score™
4.9% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
23.1x P/Sales
ratio
0.8x
P/BV
ratio
4.0x Div.
yield
0.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco Dynamic Consumer Discretionary Sector Portfolio seeks investment results that correspond to the price and yield of the Dynamic Consumer Discretionary Sector Intellidex, which picks s

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Oct 12, 2006
Assets (mns) $56
Currency USD
Expense ratio 60 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 40
Wgt avg mkt cap (mns) $48,577
Large cap (>$10bn) 54.1%
Mid cap ($2-10bn) 30.9%
Small cap (<$2bn) 15.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
O'REILLY AUTOMOTIVE INC 6.4 %
NIKE INC -CL B 5.7 %
BURLINGTON STORES INC 4.5 %
CHARTER COMMUNICATIONS, INC. CLASS 4.4 %
IAC/INTERACTIVECORP 3.9 %
HOME DEPOT INC 3.7 %
ETSY, INC. 3.7 %
LIVE NATION INC 3.5 %
CABLE ONE INC 3.3 %
CROCS INC 3.1 %
Total 42.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.6 %
SWITZERLAND 3.0 %
IRELAND 1.6 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
14.8% 3.0% 5.6% 12.1% 6.4%

Market Correlations
versus... Beta R-squared
S&P500 1.21 76%
MSCI EAFE 0.95 39%
MSCI Emg. Mkts. 0.57 23%

Technical Indicators
Recent close $53.41
30d moving avg. $53.47
Annualized volatility 16.8%
Short interest (ETF) 3.0%
Short interest (Underlying) 6.3%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 31
Turnover 3.0%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $7,183

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PEZ Expense: 60 bp ALTAR Score™: 4.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PEZ
Ticker Fund
Name
Overlap1
vs PEZ
(%)
Expense
ratio
(bp)
Savings
vs PEZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs PEZ
(%)
IYC iShares DJ US Consumer Services 21.1 42 18 5.0 +0.1
PMR Invesco Dynamic Retail 18.8 63 -3 7.1 +2.2
JHMC John Hancock Multifactor Consumer Discretionary 18.0 40 20 6.0 +1.0
IEDI iShares Evolved U.S. Discretionary Spending 18.0 18 42 5.0 +0.1
MILN Global X Millennials Thematic 17.5 50 10 3.0 -1.9
XLY Consumer Discretionary Select Sector SPDR 16.9 13 47 5.7 +0.8
FXD First Trust Consumer Discretionary 16.8 64 -4 8.1 +3.2
FTXD First Trust Nasdaq Retail 16.4 60 0 6.5 +1.5
FDIS Fidelity MSCI Consumer Discrettionary 15.9 8 52 5.4 +0.5
VCR Vanguard Consumer Discretionary 15.9 10 50 5.5 +0.6
FMK First Trust Mega Cap AlphaDEX 15.0 70 -10 5.6 +0.7
IEME iShares Evolved U.S. Media and Entertainment 14.4 18 42 6.8 +1.9
XRT SPDR S&P Retail 14.4 35 25 8.8 +3.9
RTH VanEck Vectors Retail 14.3 35 25 5.7 +0.8
RCD Invesco S&P Equal Weight Consumer Discretionary 14.1 40 20 8.4 +3.5
JHCS John Hancock Multifactor Media & Communications 13.3 40 20 6.3 +1.4
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum 13.1 75 -15 3.6 -1.3
RXI iShares S&P Global Consumer Discretionary 12.4 46 14 6.8 +1.9
PSCD Invesco S&P Small Cap Consumer Discretionary 12.3 29 31 8.3 +3.4
PDP Invesco DWA Technical Leaders 10.9 62 -2 3.9 -1.0

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 DWA Consumer Discretionary Momentum
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 18.9 %
Divided by: Fwd. P/BV 3.4 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 4.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 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.