Invesco Dividend Achievers ETF
ALTAR
Score™
5.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.6x P/Sales
ratio
1.9x
P/BV
ratio
3.7x Div.
yield
2.6%


  • 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) $392
Currency USD
Expense ratio 54 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 288
Wgt avg mkt cap (mns) $217,269
Large cap (>$10bn) 94.9%
Mid cap ($2-10bn) 4.7%
Small cap (<$2bn) 0.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 4.4 %
JOHNSON & JOHNSON 3.8 %
WAL-MART STORES INC 3.5 %
VISA INC-CLASS A SHARES 3.2 %
PROCTER & GAMBLE CO/THE 3.2 %
UNITEDHEALTH GROUP INC 2.9 %
HOME DEPOT INC 2.8 %
VERIZON COMMUNICATIONS INC 2.3 %
AT&T INC 2.1 %
COCA-COLA CO/THE 2.0 %
Total 30.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.0 %
IRELAND 3.2 %
SWITZERLAND 0.6 %
BERMUDA 0.3 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.1% 3.3% 9.4% 11.3% 7.0%

Market Correlations
versus... Beta R-squared
S&P500 0.86 94%
MSCI EAFE 0.86 79%
MSCI Emg. Mkts. 0.58 60%

Technical Indicators
Recent close $30.47
30d moving avg. $29.37
Annualized volatility 15.2%
Short interest (ETF) 1.5%
Short interest (Underlying) 2.2%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 78
Turnover 0.6%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $56,054

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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: 54 bp ALTAR Score™: 5.2%


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 76.2 6 48 5.1 -0.0
DGRO iShares Core Dividend Growth ETF 55.2 8 46 6.4 +1.2
VYM Vanguard High Dividend Yield Index ETF 55.0 6 48 7.2 +2.0
DLN WisdomTree U.S. LargeCap Dividend Fund 53.8 28 26 6.2 +1.0
DTD WisdomTree U.S.Total Dividend Fund 52.0 28 26 6.4 +1.2
SCHV Schwab U.S. Large-Cap Value ETF 51.7 4 50 6.9 +1.8
MGV Vanguard Mega Cap Value ETF 50.0 7 47 7.0 +1.9
OUSA O'Shares FTSE US Quality Dividend ETF 49.2 48 6 5.5 +0.3
DGRW WisdomTree U.S. Quality Dividend Growth Fund 46.8 28 26 6.2 +1.0
SPYV SPDR Portfolio S&P 500 Value ETF 46.7 4 50 7.1 +1.9
IVE iShares S&P 500 Value ETF 46.6 18 36 7.0 +1.8
USDY Pacific Global US Equity Income ETF 46.4 29 25 7.0 +1.8
VOOV Vanguard S&P 500 Value ETF 46.2 15 39 7.0 +1.9
VTV Vanguard Value Index Fund 46.0 4 50 7.1 +2.0
IWX iShares Russell Top 200 Value ETF 45.7 20 34 6.6 +1.4
IUSV iShares Core S&P U.S. Value ETF 44.9 4 50 7.2 +2.0
FLQL Franklin LibertyQ U.S. Equity ETF 42.9 15 39 5.9 +0.7
QUS SPDR MSCI USA StrategicFactors ETF 41.9 15 39 5.6 +0.5
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 40.9 29 25 5.8 +0.6
RAFE PIMCO RAFI ESG U.S. ETF 40.3 29 25 7.4 +2.2
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 40.1 12 42 4.6 -0.6
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 40.0 10 44 5.1 -0.0
SUSL iShares ESG MSCI USA Leaders ETF 39.9 10 44 5.1 -0.0
EPS WisdomTree U.S. Earnings 500 Fund 39.8 8 46 6.2 +1.0
EQWL Invesco Russell Top 200 Equal Weight ETF 39.8 25 29 5.9 +0.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 39.8 25 29 6.1 +1.0
QDEF FlexShares Quality Dividend Defensive Index Fund 39.5 37 17 5.6 +0.5
FDLO Fidelity Low Volatility Factor ETF 39.4 29 25 4.9 -0.3
JQUA JPMorgan U.S. Quality Factor ETF 39.3 12 42 5.1 -0.0
IWD iShares Russell 1000 Value ETF 39.3 19 35 6.7 +1.5
VONV Vanguard Russell 1000 Value Index Fund 39.1 8 46 6.8 +1.6
FLLV Franklin Liberty U.S. Low Volatility ETF 39.0 29 25 5.5 +0.4
ACIO Aptus Collared Income Opportunity ETF 38.9 79 -25 4.0 -1.1
FDRR Fidelity Dividend ETF for Rising Rates 38.7 29 25 6.7 +1.5
SPXT ProShares S&P 500 Ex-Technology ETF 38.5 27 27 5.4 +0.2
PRF Invesco FTSE RAFI US 1000 ETF 38.3 39 15 6.5 +1.3
SPXN ProShares S&P 500 Ex-Financials ETF 38.2 27 27 4.7 -0.4
DIVB iShares U.S. Dividend & Buyback ETF 38.1 25 29 6.3 +1.1
OEF iShares S&P 100 ETF 38.1 20 34 4.6 -0.6
FQAL Fidelity Quality Factor ETF 38.1 29 25 5.3 +0.1
PBP Invesco S&P 500 BuyWrite ETF 37.9 49 5 4.7 -0.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 37.8 20 34 4.7 -0.5
FNDB Schwab Fundamental U.S. Broad Market Index ETF 37.7 25 29 6.1 +1.0
DSI iShares MSCI KLD 400 Social ETF 37.0 25 29 5.0 -0.2
EDOW First Trust Dow 30 Equal Weight ETF 37.0 50 4 5.7 +0.5
ESG FlexShares STOXX US ESG Impact Index Fund 37.0 32 22 4.8 -0.4
LVUS Hartford Multifactor Low Volatility US Equity ETF 36.9 19 35 5.8 +0.7
HSPX Global X S&P 500 Covered Call ETF 36.9 65 -11 4.6 -0.6
IUS Invesco Strategic US ETF 36.9 19 35 6.2 +1.1
BKLC BNY Mellon US Large Cap Core Equity ETF 36.6 0 54 4.9 -0.2
SNPE Xtrackers S&P 500 ESG ETF 36.6 11 43 4.9 -0.3
SPY SPDR S&P 500 ETF Trust 36.5 9 45 5.1 -0.1
RECS Columbia Research Enhanced Core ETF 36.5 15 39 5.4 +0.2
MGC Vanguard Mega Cap Index Fund 36.5 7 47 5.0 -0.2
IVV iShares Core S&P 500 ETF 36.5 4 50 5.2 -0.0
SPLG SPDR Portfolio Large Cap ETF 36.5 3 51 5.2 +0.0
IWL iShares Russell Top 200 ETF 36.4 15 39 4.7 -0.4
VOO VANGUARD S&P 500 ETF 36.3 3 51 5.2 +0.0
SPXV ProShares S&P 500 Ex-Health Care ETF 36.1 27 27 4.7 -0.4
RWL Invesco S&P 500 Revenue ETF 36.0 39 15 6.8 +1.7
SPXE ProShares S&P 500 Ex-Energy ETF 36.0 27 27 5.1 -0.1
XLG Invesco S&P 500 Top 50 ETF 35.9 20 34 4.3 -0.9
USMV iShares Edge MSCI Min Vol USA ETF 35.8 15 39 5.3 +0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 35.8 20 34 5.1 -0.1
WOMN Impact Shares YWCA Women's Empowerment ETF 35.7 75 -21 4.2 -1.0
NACP Impact Shares NAACP Minority Empowerment ETF 35.6 75 -21 4.6 -0.6
QVM Arrow QVM Equity Factor ETF 35.6 65 -11 4.8 -0.4
DIA SPDR Dow Jones Industrial Average ETF Trust 35.5 16 38 5.3 +0.1
IQSU IQ Candriam ESG US Equity ETF 35.3 9 45 4.9 -0.3
JHML John Hancock Multifactor Large Cap ETF 35.2 29 25 5.3 +0.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 35.2 7 47 5.0 -0.2
QDF FlexShares Quality Dividend Index Fund 35.2 37 17 5.9 +0.8
SPTM SPDR Portfolio Total Stock Market ETF 35.2 3 51 5.3 +0.1
PBUS Invesco PureBeta MSCI USA ETF 35.2 4 50 5.0 -0.2
SCHX Schwab U.S. Large-Cap ETF 34.9 3 51 5.1 -0.1
SPMV Invesco S&P 500 Minimum Variance ETF 34.9 10 44 5.6 +0.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 34.9 2 52 5.1 -0.1
ESGU iShares MSCI USA ESG Optimized ETF 34.9 15 39 4.9 -0.3
VV Vanguard Large-Cap Index Fund 34.6 4 50 5.0 -0.2
KLCD KFA Large Cap Quality Dividend Index ETF 34.6 41 13 5.0 -0.2
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 34.4 49 5 4.3 -0.9
CCOR Core Alternative ETF 34.4 123 -69 4.1 -1.1
JKF iShares Morningstar Large Cap Value ETF 34.2 25 29 7.4 +2.2
SCHK Schwab 1000 Index ETF 34.2 5 49 5.0 -0.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 34.0 19 35 5.8 +0.6
VONE Vanguard Russell 1000 ETF 34.0 8 46 5.0 -0.2
IYY iShares Dow Jones U.S. ETF 34.0 20 34 4.9 -0.3
IWB iShares Russell 1000 ETF 33.9 15 39 4.9 -0.3
DYNF BlackRock U.S. Equity Factor Rotation ETF 33.9 30 24 6.2 +1.0
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 33.5 75 -21 5.4 +0.3
NOBL ProShares S&P 500 Dividend Aristocrats ETF 33.5 35 19 5.8 +0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 33.3 9 45 5.3 +0.1
QLV FlexShares US Quality Low Volatility Index Fund 33.2 22 32 4.6 -0.6
SCHB Schwab U.S. Broad Market ETF 32.9 3 51 5.0 -0.2
VSDA VictoryShares Dividend Accelerator ETF 32.9 35 19 4.6 -0.5
CATH Global X S&P 500 Catholic Values Custom ETF 32.9 29 25 5.0 -0.2
ITOT iShares Core S&P Total U.S. Stock Market ETF 32.8 3 51 4.9 -0.2
IWV iShares Russell 3000 ETF 32.7 20 34 4.8 -0.4
VTHR Vanguard Russell 3000 Index Fund 32.6 10 44 4.8 -0.3
JKD iShares Morningstar Large-Cap ETF 32.6 20 34 5.3 +0.1

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 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 19.9 %
Divided by: Fwd. P/BV 3.5 x
Less: Expense ratio 54 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 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.