Invesco Dividend Achievers ETF
ALTAR
Score™
5.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.3x P/Sales
ratio
1.9x
P/BV
ratio
3.5x Div.
yield
2.7%


  • 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) $333
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 292
Wgt avg mkt cap (mns) $204,638
Large cap (>$10bn) 94.4%
Mid cap ($2-10bn) 5.2%
Small cap (<$2bn) 0.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 4.6 %
JOHNSON & JOHNSON 4.0 %
WAL-MART STORES INC 3.5 %
VISA INC-CLASS A SHARES 3.4 %
UNITEDHEALTH GROUP INC 2.9 %
PROCTER & GAMBLE CO/THE 2.9 %
HOME DEPOT INC 2.7 %
VERIZON COMMUNICATIONS INC 2.4 %
AT&T INC 2.2 %
COCA-COLA CO/THE 2.0 %
Total 30.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.0 %
IRELAND 3.1 %
SWITZERLAND 0.6 %
BERMUDA 0.2 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.9% 7.3% 8.2% 11.1% 6.8%

Market Correlations
versus... Beta R-squared
S&P500 0.86 94%
MSCI EAFE 0.86 80%
MSCI Emg. Mkts. 0.61 62%

Technical Indicators
Recent close $29.07
30d moving avg. $27.33
Annualized volatility 15.1%
Short interest (ETF) 0.2%
Short interest (Underlying) 2.2%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 40
Turnover 0.4%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $71,467

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™: 5.3%


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 59.8 6 48 5.1 -0.2
DLN WisdomTree U.S. LargeCap Dividend Fund 54.4 28 26 6.3 +1.0
VYM Vanguard High Dividend Yield Index ETF 53.4 6 48 7.1 +1.8
DTD WisdomTree U.S.Total Dividend Fund 51.9 28 26 6.5 +1.2
DGRO iShares Core Dividend Growth ETF 51.9 8 46 6.4 +1.1
SCHV Schwab U.S. Large-Cap Value ETF 51.3 4 50 7.0 +1.7
OUSA O'Shares FTSE US Quality Dividend ETF 49.7 48 6 5.6 +0.4
MGV Vanguard Mega Cap Value ETF 48.4 7 47 7.0 +1.8
SPYV SPDR Portfolio S&P 500 Value ETF 46.7 4 50 7.2 +1.9
IVE iShares S&P 500 Value ETF 46.7 18 36 7.1 +1.8
VTV Vanguard Value Index Fund 46.4 4 50 7.2 +1.9
DGRW WisdomTree U.S. Quality Dividend Growth Fund 46.2 28 26 6.5 +1.2
VOOV Vanguard S&P 500 Value ETF 46.0 15 39 7.1 +1.8
IUSV iShares Core S&P U.S. Value ETF 45.1 4 50 7.3 +2.0
QUS SPDR MSCI USA StrategicFactors ETF 43.8 15 39 5.8 +0.5
FLQL Franklin LibertyQ U.S. Equity ETF 42.3 15 39 6.2 +0.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 42.0 29 25 6.1 +0.8
USDY Pacific Global US Equity Income ETF 41.9 29 25 7.6 +2.3
IWX iShares Russell Top 200 Value ETF 41.9 20 34 6.9 +1.6
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 41.6 29 25 4.3 -1.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 41.2 10 44 5.4 +0.1
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 41.2 12 42 4.8 -0.5
SUSL iShares ESG MSCI USA Leaders ETF 41.2 10 44 5.4 +0.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 41.1 25 29 6.4 +1.2
PBP Invesco S&P 500 BuyWrite ETF 41.1 49 5 5.1 -0.2
IWD iShares Russell 1000 Value ETF 40.8 19 35 6.9 +1.6
FDLO Fidelity Low Volatility Factor ETF 40.6 29 25 5.2 -0.1
EPS WisdomTree U.S. Earnings 500 Fund 40.4 8 46 6.4 +1.1
VONV Vanguard Russell 1000 Value Index Fund 40.4 8 46 7.0 +1.7
RECS Columbia Research Enhanced Core ETF 40.3 15 39 5.6 +0.3
SPXN ProShares S&P 500 Ex-Financials ETF 40.2 27 27 5.1 -0.2
OEF iShares S&P 100 ETF 40.1 20 34 4.9 -0.4
HSPX Global X S&P 500 Covered Call ETF 40.0 65 -11 4.9 -0.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 39.7 20 34 5.0 -0.3
RAFE PIMCO RAFI ESG U.S. ETF 39.6 29 25 7.6 +2.3
SPXT ProShares S&P 500 Ex-Technology ETF 39.5 27 27 5.6 +0.3
JQUA JPMorgan U.S. Quality Factor ETF 39.3 12 42 5.2 -0.1
ESG FlexShares STOXX US ESG Impact Index Fund 39.2 32 22 5.1 -0.2
FDRR Fidelity Dividend ETF for Rising Rates 39.2 29 25 6.9 +1.6
FQAL Fidelity Quality Factor ETF 39.1 29 25 5.4 +0.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 39.1 25 29 6.4 +1.1
IWL iShares Russell Top 200 ETF 39.0 15 39 5.1 -0.2
WOMN Impact Shares YWCA Women's Empowerment ETF 39.0 75 -21 4.5 -0.8
MGC Vanguard Mega Cap Index Fund 38.9 7 47 5.3 -0.0
PRF Invesco FTSE RAFI US 1000 ETF 38.9 39 15 6.7 +1.4
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 38.9 19 35 5.6 +0.3
IUS Invesco Strategic US ETF 38.7 19 35 6.1 +0.8
DSI iShares MSCI KLD 400 Social ETF 38.5 25 29 5.2 -0.1
SPLG SPDR Portfolio Large Cap ETF 38.2 3 51 5.5 +0.2
IVV iShares Core S&P 500 ETF 38.2 4 50 5.4 +0.2
SPY SPDR S&P 500 ETF Trust 38.2 9 45 5.4 +0.1
EQWL Invesco Russell Top 200 Equal Weight ETF 38.1 25 29 5.9 +0.6
SNPE Xtrackers S&P 500 ESG ETF 38.0 11 43 5.2 -0.1
FLLV Franklin Liberty U.S. Low Volatility ETF 37.9 29 25 5.6 +0.3
VOO VANGUARD S&P 500 ETF 37.9 3 51 5.5 +0.2
SPXV ProShares S&P 500 Ex-Health Care ETF 37.9 27 27 5.1 -0.2
USMV iShares Edge MSCI Min Vol USA ETF 37.8 15 39 5.6 +0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 37.6 20 34 5.4 +0.2
SPXE ProShares S&P 500 Ex-Energy ETF 37.5 27 27 5.4 +0.1
QDEF FlexShares Quality Dividend Defensive Index Fund 37.5 37 17 6.2 +0.9
DIVB iShares U.S. Dividend & Buyback ETF 37.5 25 29 6.4 +1.1
PBUS Invesco PureBeta MSCI USA ETF 37.5 4 50 5.3 0.0
IQSU IQ Candriam ESG US Equity ETF 37.4 9 45 5.2 -0.1
VV Vanguard Large-Cap Index Fund 37.1 4 50 5.3 +0.0
SPTM SPDR Portfolio Total Stock Market ETF 36.9 3 51 5.5 +0.3
XLG Invesco S&P 500 Top 50 ETF 36.9 20 34 4.7 -0.6
RWL Invesco S&P 500 Revenue ETF 36.9 39 15 6.7 +1.4
LVUS Hartford Multifactor Low Volatility US Equity ETF 36.8 19 35 5.9 +0.6
ESGU iShares MSCI USA ESG Optimized ETF 36.8 15 39 5.1 -0.2
QVM Arrow QVM Equity Factor ETF 36.7 65 -11 4.9 -0.4
SCHX Schwab U.S. Large-Cap ETF 36.7 3 51 5.3 +0.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 36.5 2 52 5.4 +0.1
DIA SPDR Dow Jones Industrial Average ETF Trust 36.5 16 38 5.5 +0.2
EDOW First Trust Dow 30 Equal Weight ETF 36.3 50 4 5.7 +0.4
IWB iShares Russell 1000 ETF 36.1 15 39 5.2 -0.1
JHML John Hancock Multifactor Large Cap ETF 36.1 34 20 5.5 +0.2
SCHK Schwab 1000 Index ETF 35.9 5 49 5.3 +0.0
VONE Vanguard Russell 1000 ETF 35.8 8 46 5.3 +0.0
IYY iShares Dow Jones U.S. ETF 35.7 20 34 5.2 -0.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 35.5 9 45 5.5 +0.3
DYNF BlackRock U.S. Equity Factor Rotation ETF 35.4 30 24 6.6 +1.4
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 35.3 49 5 4.1 -1.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 35.1 12 42 5.1 -0.2
SPMV Invesco S&P 500 Minimum Variance ETF 34.9 10 44 5.7 +0.4
CCOR Core Alternative ETF 34.9 123 -69 4.3 -1.0
IWV iShares Russell 3000 ETF 34.7 20 34 5.1 -0.2
VTI Vanguard Total Stock Market Index Fund 34.7 3 51 5.2 -0.1
SCHB Schwab U.S. Broad Market ETF 34.7 3 51 5.3 0.0
CATH Global X S&P 500 Catholic Values Custom ETF 34.7 29 25 5.3 0.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 34.5 3 51 5.2 -0.1
VTHR Vanguard Russell 3000 Index Fund 34.5 10 44 5.2 -0.1
NACP Impact Shares NAACP Minority Empowerment ETF 34.1 75 -21 4.5 -0.8
KLCD KFA Large Cap Quality Dividend Index ETF 33.9 41 13 5.2 -0.1
QDF FlexShares Quality Dividend Index Fund 33.8 37 17 6.8 +1.5
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 33.8 49 5 4.7 -0.5
ACIO Aptus Collared Income Opportunity ETF 33.4 79 -25 4.5 -0.8
DJD Invesco Dow Jones Industrial Average Dividend ETF 33.3 7 47 6.5 +1.2
SFY SoFi Select 500 ETF 33.1 0 54 5.3 +0.0
REVS Columbia Research Enhanced Value ETF 33.0 19 35 7.4 +2.1
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 32.8 75 -21 6.0 +0.7

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 19.7 %
Divided by: Fwd. P/BV 3.4 x
Less: Expense ratio 54 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.53
 
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.