Invesco Dividend Achievers ETF
ALTAR
Score™
5.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.5x P/Sales
ratio
2.1x
P/BV
ratio
4.0x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco Dividend Achievers Portfolio seeks investment results that correspond to then Broad Dividend Achievers Index, which tracks stocks that have increased their annual dividend for 10 or

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Sep 15, 2005
Assets (mns) $538
Currency USD
Expense ratio 53 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 284
Wgt avg mkt cap (mns) $228,630
Large cap (>$10bn) 95.3%
Mid cap ($2-10bn) 4.3%
Small cap (<$2bn) 0.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 4.2 %
JOHNSON & JOHNSON 3.8 %
WAL-MART STORES INC 3.7 %
VISA INC-CLASS A SHARES 3.0 %
UNITEDHEALTH GROUP INC 2.9 %
PROCTER & GAMBLE CO/THE 2.9 %
HOME DEPOT INC 2.7 %
VERIZON COMMUNICATIONS INC 2.1 %
COMCAST CORP-CL A 2.0 %
COCA-COLA CO/THE 1.8 %
Total 29.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.8 %
IRELAND 3.3 %
SWITZERLAND 0.6 %
BERMUDA 0.2 %







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.
9.5% 9.5% 12.3% 11.3% 7.7%

Market Correlations
versus... Beta R-squared
S&P500 0.84 95%
MSCI EAFE 0.78 80%
MSCI Emg. Mkts. 0.60 62%

Technical Indicators
Recent close $33.07
30d moving avg. $32.85
Annualized volatility 16.3%
Short interest (ETF) 0.2%
Short interest (Underlying) 2.2%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 88
Turnover 0.5%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $61,667

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 potential alternatives to the Invesco Dividend Achievers ETF ETF based on the alternatives' overlap in portfolio holdings with PFM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PFM Expense: 53 bp ALTAR Score™: 5.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PFM
Ticker Fund
Name
Overlap1
vs PFM
(%)
Expense
ratio
(bp)
Savings
vs PFM
(bp)
ALTAR
Score™
(%)
ALTAR
vs PFM
(%)
VIG Vanguard Dividend Appreciation Index Fund 77.3 6 47 5.0 -0.0
VYM Vanguard High Dividend Yield Index ETF 54.9 6 47 6.7 +1.6
DGRO iShares Core Dividend Growth ETF 54.2 8 45 6.0 +1.0
OUSA O'Shares FTSE US Quality Dividend ETF 52.1 48 5 5.5 +0.4
MGV Vanguard Mega Cap Value ETF 52.1 7 46 6.5 +1.5
DLN WisdomTree U.S. LargeCap Dividend Fund 52.0 28 25 6.1 +1.1
DTD WisdomTree U.S.Total Dividend Fund 50.4 28 25 6.2 +1.2
DGRW WisdomTree U.S. Quality Dividend Growth Fund 49.9 28 25 6.0 +1.0
VOOV Vanguard S&P 500 Value ETF 48.0 10 43 6.6 +1.6
VTV Vanguard Value Index Fund 45.5 4 49 6.6 +1.5
IWX iShares Russell Top 200 Value ETF 44.2 20 33 6.1 +1.1
SCHV Schwab U.S. Large-Cap Value ETF 44.0 4 49 6.1 +1.1
FLQL Franklin LibertyQ U.S. Equity ETF 41.3 15 38 5.9 +0.9
SPYV SPDR Portfolio S&P 500 Value ETF 40.7 4 49 6.5 +1.4
IVE iShares S&P 500 Value ETF 40.6 18 35 6.3 +1.3
JKF iShares Morningstar Large Cap Value ETF 39.9 25 28 6.7 +1.7
QUS SPDR MSCI USA StrategicFactors ETF 39.6 15 38 5.3 +0.2
FLLV Franklin Liberty U.S. Low Volatility ETF 39.4 29 24 4.9 -0.1
IUSV iShares Core S&P U.S. Value ETF 39.1 4 49 6.5 +1.4
ESGV Vanguard ESG U.S. Stock ETF 39.0 12 41 4.5 -0.6
EQWL Invesco Russell Top 200 Equal Weight ETF 39.0 25 28 5.6 +0.6
VONV Vanguard Russell 1000 Value Index Fund 38.6 8 45 6.2 +1.2
DIVB iShares U.S. Dividend & Buyback ETF 38.1 25 28 5.9 +0.9
EPS WisdomTree U.S. Earnings 500 Fund 37.9 8 45 5.9 +0.9
FDLO Fidelity Low Volatility Factor ETF 37.9 29 24 4.9 -0.1
FDRR Fidelity Dividend ETF for Rising Rates 37.8 29 24 5.9 +0.9
JCTR JPMorgan Carbon Transition U.S. Equity ETF 37.8 15 38 4.7 -0.4
JQUA JPMorgan U.S. Quality Factor ETF 37.5 12 41 5.1 +0.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 37.4 10 43 4.8 -0.2
SUSL iShares ESG MSCI USA Leaders ETF 37.4 10 43 4.8 -0.2
ACIO Aptus Collared Income Opportunity ETF 36.9 79 -26 3.8 -1.2
ESG FlexShares STOXX US ESG Impact Index Fund 36.9 32 21 4.5 -0.6
IWD iShares Russell 1000 Value ETF 36.7 19 34 6.1 +1.0
RAFE PIMCO RAFI ESG U.S. ETF 36.5 30 23 6.7 +1.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 36.1 30 23 5.1 +0.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 35.9 20 33 4.6 -0.5
OEF iShares S&P 100 ETF 35.8 20 33 4.2 -0.9
FNDX Schwab Fundamental U.S. Large Co. Index ETF 35.8 25 28 5.7 +0.7
RWL Invesco S&P 500 Revenue ETF 35.5 39 14 6.3 +1.3
SPMV Invesco S&P 500 Minimum Variance ETF 35.5 10 43 5.5 +0.4
FQAL Fidelity Quality Factor ETF 35.4 29 24 5.0 -0.1
MGC Vanguard Mega Cap Index Fund 35.3 7 46 4.6 -0.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 35.3 12 41 4.9 -0.1
PRF Invesco FTSE RAFI US 1000 ETF 35.3 39 14 5.7 +0.7
SPXN ProShares S&P 500 Ex-Financials ETF 35.3 27 26 4.3 -0.7
QDEF FlexShares Quality Dividend Defensive Index Fund 35.2 37 16 5.4 +0.4
SPXT ProShares S&P 500 Ex-Technology ETF 35.2 27 26 4.9 -0.2
PBP Invesco S&P 500 BuyWrite ETF 35.1 49 4 4.3 -0.7
EFIV SPDR S&P 500 ESG ETF 34.8 10 43 4.6 -0.5
SNPE Xtrackers S&P 500 ESG ETF 34.8 10 43 4.6 -0.5
WOMN Impact Shares YWCA Women's Empowerment ETF 34.7 75 -22 3.5 -1.5
XYLG Global X S&P 500 Covered Call & Growth ETF 34.6 60 -7 4.4 -0.6
NACP Impact Shares NAACP Minority Empowerment ETF 34.5 49 4 4.7 -0.4
IWL iShares Russell Top 200 ETF 34.4 15 38 4.4 -0.7
DSI iShares MSCI KLD 400 Social ETF 34.4 25 28 4.6 -0.5
KLCD KFA Large Cap Quality Dividend Index ETF 34.3 42 11 5.1 +0.1
XLG Invesco S&P 500 Top 50 ETF 34.2 20 33 4.0 -1.0
SPY SPDR S&P 500 ETF Trust 34.1 9 44 4.7 -0.4
IUS Invesco Strategic US ETF 34.1 19 34 5.5 +0.5
IVV iShares Core S&P 500 ETF 34.0 3 50 4.7 -0.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 34.0 20 33 4.8 -0.3
SPLG SPDR Portfolio Large Cap ETF 34.0 3 50 4.7 -0.3
BKLC BNY Mellon US Large Cap Core Equity ETF 33.7 0 53 4.4 -0.6
FNDB Schwab Fundamental U.S. Broad Market Index ETF 33.6 25 28 5.7 +0.6
IQSU IQ Candriam ESG US Equity ETF 33.6 9 44 4.5 -0.5
QDF FlexShares Quality Dividend Index Fund 33.5 37 16 5.5 +0.4
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 33.5 75 -22 5.3 +0.2
VOO VANGUARD S&P 500 ETF 33.5 3 50 4.8 -0.2
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 33.5 49 4 4.1 -0.9
USMV iShares Edge MSCI Min Vol USA ETF 33.4 15 38 5.3 +0.3
EDOW First Trust Dow 30 Equal Weight ETF 33.4 50 3 5.1 +0.1
VSDA VictoryShares Dividend Accelerator ETF 33.2 35 18 4.7 -0.4
SPXE ProShares S&P 500 Ex-Energy ETF 33.2 27 26 4.6 -0.4
QLV FlexShares US Quality Low Volatility Index Fund 33.1 22 31 4.3 -0.7
JHML John Hancock Multifactor Large Cap ETF 33.0 29 24 4.9 -0.2
NOBL ProShares S&P 500 Dividend Aristocrats ETF 32.9 35 18 5.7 +0.7
SPXV ProShares S&P 500 Ex-Health Care ETF 32.9 27 26 4.3 -0.8
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 32.9 7 46 4.5 -0.5
FMK First Trust Mega Cap AlphaDEX Fund 32.9 70 -17 0.0 -5.0
RECS Columbia Research Enhanced Core ETF 32.7 15 38 5.1 +0.0
SPTM SPDR Portfolio Total Stock Market ETF 32.7 3 50 4.8 -0.3
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 32.6 19 34 5.3 +0.3
PBUS Invesco PureBeta MSCI USA ETF 32.6 4 49 4.6 -0.4
CCOR Core Alternative ETF 32.6 109 -56 4.2 -0.8
QUAL iShares MSCI Usa Quality Factor ETF 32.5 15 38 5.0 -0.0
VV Vanguard Large-Cap Index Fund 32.5 4 49 4.6 -0.4
ESGU iShares MSCI USA ESG Optimized ETF 32.4 15 38 4.4 -0.6
BBUS JP Morgan Betabuilders U.S. Equity ETF 32.3 2 51 4.6 -0.4
DIA SPDR Dow Jones Industrial Average ETF Trust 32.2 16 37 5.0 -0.0
SCHX Schwab U.S. Large-Cap ETF 32.1 3 50 4.6 -0.5
YLDE ClearBridge Dividend Strategy ESG ETF 32.1 60 -7 4.5 -0.6
HLAL Wahed FTSE USA Shariah ETF 31.9 50 3 3.8 -1.2
FVAL Fidelity Value Factor ETF 31.9 29 24 6.8 +1.8
CATH Global X S&P 500 Catholic Values Custom ETF 31.9 29 24 4.6 -0.5
IWB iShares Russell 1000 ETF 31.7 15 38 4.5 -0.6
SCHK Schwab 1000 Index ETF 31.7 5 48 4.6 -0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 31.6 9 44 4.8 -0.2

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

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 20.0 %
Divided by: Fwd. P/BV 3.6 x
Less: Expense ratio 53 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 CATEGORY
AVERAGE
1.49
 
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.