Invesco Water Resources ETF
ALTAR
Score™
4.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
20.1x P/Sales
ratio
2.3x
P/BV
ratio
3.1x Div.
yield
1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco Water Resources fund is based on the Palisades Water Index™. The Index seeks to identify a group of companies that focus on the provision of potable water, the treatment of water, and the technology and services that are directly related to water consumption.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Dec 06, 2005
Assets (mns) $875
Currency USD
Expense ratio 60 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 35
Wgt avg mkt cap (mns) $21,421
Large cap (>$10bn) 51.0%
Mid cap ($2-10bn) 38.6%
Small cap (<$2bn) 10.4%
Developed mkts 98.5%
Emerging mkts 1.5%

TOP TEN HOLDINGS
AMERICAN WATER WORKS CO INC 9.5 %
DANAHER CORP 9.1 %
ROPER INDUSTRIES INC 8.3 %
ECOLAB INC 8.0 %
WATERS CORP 7.9 %
AQUA AMERICA INC 4.4 %
IDEX CORP 4.1 %
XYLEM INC 4.1 %
SMITH (A.O.) CORP 3.8 %
AMERICAN STATES WATER CO 3.6 %
Total 62.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.3 %
BRITAIN 3.2 %
BRAZIL 1.5 %
CAYMAN ISLANDS 0.2 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-18.8% -7.3% 5.2% 6.7% 5.8%

Market Correlations
versus... Beta R-squared
S&P500 0.97 84%
MSCI EAFE 0.93 74%
MSCI Emg. Mkts. 0.68 58%

Technical Indicators
Recent close $30.39
30d moving avg. $33.88
Annualized volatility 16.2%
Short interest (ETF) 0.2%
Short interest (Underlying) 6.4%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 183
Turnover 0.6%
Bid/Ask (% of price) 0.43%
ADV underlying (mns) $4,124

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco Water Resources ETF ETF based on the alternatives' overlap in portfolio holdings with PHO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

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


ALTERNATIVE ETFs BASED ON OVERLAP WITH PHO
Ticker Fund
Name
Overlap1
vs PHO
(%)
Expense
ratio
(bp)
Savings
vs PHO
(bp)
ALTAR
Score™
(%)
ALTAR
vs PHO
(%)
FIW First Trust Water ETF 66.3 55 5 5.1 +0.2
PIO Invesco Global Water ETF 45.4 75 -15 5.2 +0.3
CGW Invesco S&P Global Water Index ETF 44.2 62 -2 5.1 +0.2
TBLU Tortoise Water Fund 37.8 40 20 6.3 +1.5
XKII SPDR Kensho Intelligent Structures ETF 17.8 45 15 8.6 +3.8
PUI Invesco DWA Utilities Momentum ETF 14.0 60 0 5.1 +0.2
PRN Invesco DWA Industrials Momentum ETF 12.0 60 0 15.1 +10.2
PZD Invesco Cleantech ETF 10.9 68 -8 6.5 +1.6
IHI iShares U.S. Medical Devices ETF 9.6 43 17 4.4 -0.5
SMDV ProShares Russell 2000 Dividend Growers ETF 9.2 40 20 8.4 +3.5
PAVE Global X U.S. Infrastructure Development ETF 9.0 47 13 8.1 +3.2
IFRA iShares U.S. Infrastructure ETF 8.3 40 20 7.6 +2.7
KSCD KFA Small Cap Quality Dividend Index ETF 8.2 51 9 7.4 +2.5
DIET Defiance Next Gen Food & Agriculture ETF 8.1 30 30 6.3 +1.4
IYM iShares U.S. Basic Materials ETF 8.0 42 18 8.2 +3.4
RGI Invesco S&P 500 Equal Weight Industrials ETF 7.8 40 20 8.2 +3.3
XLB Materials Select Sector SPDR Fund 7.5 13 47 8.3 +3.4
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 6.4 60 0 12.8 +7.9
NOBL ProShares S&P 500 Dividend Aristocrats ETF 6.3 35 25 7.5 +2.6
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 6.3 75 -15 7.0 +2.1
ETHO Etho Climate Leadership U.S. ETF 6.2 47 13 6.7 +1.8
VAW Vanguard Materials Index Fund 6.2 10 50 8.7 +3.8
SUSA iShares MSCI USA ESG Select ETF 6.2 25 35 6.2 +1.3
FMAT Fidelity MSCI Materials Index ETF 6.1 8 52 8.7 +3.8
PDP Invesco DWA Momentum ETF 5.9 62 -2 4.4 -0.5
PSCU Invesco S&P SmallCap Utilities ETF 5.6 29 31 3.4 -1.5
BIBL Inspire ETF 5.5 35 25 6.2 +1.3
TMDV ProShares Russell US Dividend Growers ETF 5.3 35 25 6.5 +1.7
NUMG Nuveen ESG Mid-Cap Growth ETF 5.3 40 20 4.6 -0.3
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 5.2 38 22 13.4 +8.5
PSCI Invesco S&P SmallCap Industrials ETF 5.0 29 31 9.7 +4.8
UTES Virtus Reaves Utilities ETF 4.7 49 11 5.4 +0.5
VPU Vanguard Utilities Index Fund 4.6 10 50 6.2 +1.3
VIOG Vanguard S&P Small-Cap 600 Growth ETF 4.5 16 44 7.5 +2.6
IJT iShares S&P Small-Cap 600 Growth ETF 4.5 25 35 7.4 +2.5
SLYG SPDR S&P 600 Small Cap Growth ETF 4.5 15 45 7.5 +2.6
DEF Invesco Defensive Equity ETF 4.5 55 5 6.4 +1.5
PXSG Invesco S&P SmallCap Momentum ETF 4.5 39 21 7.4 +2.5
CWS AdvisorShares Focused Equity ETF 4.4 85 -25 6.8 +1.9
SDY SPDR S&P Dividend ETF 4.4 35 25 8.2 +3.3
ECLN First Trust EIP Carbon Impact ETF 4.4 95 -35 4.4 -0.5
VIS Vanguard Industrials Index Fund 4.4 10 50 8.0 +3.1
FUTY Fidelity MSCI Utilities Index ETF 4.4 8 52 6.3 +1.4
FIDU Fidelity MSCI Industrials Index ETF 4.3 8 52 7.8 +2.9
GRES IQ Global Resources ETF 4.3 77 -17 9.0 +4.1
GEX VanEck Vectors Global Alternative Energy ETF 4.3 63 -3 7.2 +2.3
HUSV First Trust Horizon Managed Volatility Domestic ETF 4.3 70 -10 6.6 +1.7
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 4.2 25 35 7.7 +2.8
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 4.2 48 12 8.8 +3.9
RYU Invesco S&P 500 Equal Weight Utilities ETF 4.2 40 20 6.5 +1.6
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 4.2 63 -3 9.5 +4.7
RTM Invesco S&P 500 Equal Weight Materials ETF 4.1 40 20 8.8 +3.9
KLCD KFA Large Cap Quality Dividend Index ETF 4.1 41 19 6.6 +1.7
JHMU John Hancock Multifactor Utilities ETF 4.1 40 20 6.6 +1.7
PYZ Invesco DWA Basic Materials Momentum ETF 4.0 60 0 7.7 +2.8
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 4.0 70 -10 6.1 +1.2
EVX VanEck Vectors Environmental Services ETF 4.0 56 4 7.0 +2.1
PSCT Invesco S&P SmallCap Information Technology ETF 4.0 29 31 7.7 +2.8
XTH SPDR S&P Technology Hardware ETF 4.0 35 25 7.4 +2.5
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 4.0 40 20 7.9 +3.0
JHMI John Hancock Multifactor Industrials ETF 3.9 40 20 8.5 +3.6
VSL Volshares Large Capital ETF 3.8 65 -5 8.7 +3.9
TPLC Timothy Plan US Large Cap Core ETF 3.8 52 8 7.3 +2.4
XHB SPDR S&P Homebuilders ETF 3.8 35 25 13.1 +8.2
JHMA John Hancock Multifactor Materials ETF 3.7 40 20 9.1 +4.2
IEHS iShares Evolved U.S. Healthcare Staples ETF 3.7 18 42 6.9 +2.0
XLI Industrial Select Sector SPDR Fund 3.7 13 47 7.7 +2.8
XSHQ Invesco S&P SmallCap Quality ETF 3.6 29 31 8.0 +3.1
GARD Reality Shares DIVCON Dividend Guard ETF 3.6 129 -69 4.7 -0.2
IDU iShares U.S. Utilities ETF 3.6 43 17 6.1 +1.2
JKJ iShares Morningstar Small-Cap ETF 3.5 25 35 9.0 +4.2
LEAD Reality Shares DIVCON Leaders Dividend ETF 3.5 43 17 5.7 +0.8
PSET Principal Price Setters Index ETF 3.5 29 31 7.1 +2.2
XSLV Invesco S&P SmallCap Low Volatility ETF 3.5 25 35 11.6 +6.8
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 3.5 39 21 8.7 +3.8
JKE iShares Morningstar Large-Cap Growth ETF 3.4 25 35 4.7 -0.2
RNSC Small Cap US Equity Select ETF 3.4 60 0 9.5 +4.6
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 3.4 35 25 9.1 +4.2
FYC First Trust Small Cap Growth AlphaDEX Fund 3.3 70 -10 3.7 -1.2
SPMO Invesco S&P 500 Momentum ETF 3.3 13 47 5.3 +0.4
VBR Vanguard Small Cap Value Index Fund 3.3 7 53 12.0 +7.1
RYH Invesco S&P 500 Equal Weight Health Care ETF 3.3 40 20 7.9 +3.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 3.2 49 11 7.6 +2.7
FLLV Franklin Liberty U.S. Low Volatility ETF 3.2 29 31 7.1 +2.2
SNSR Global X Internet of Things Thematic ETF 3.2 68 -8 6.5 +1.6
LGLV SPDR Russell 1000 Low Volatility ETF 3.2 12 48 7.1 +2.2
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 3.1 12 48 10.6 +5.7
EQWM Invesco S&P MidCap Quality ETF 3.1 25 35 6.8 +1.9
NULG Nuveen ESG Large-Cap Growth ETF 3.1 35 25 4.8 -0.1
MTUM iShares Edge MSCI USA Momentum Factor ETF 3.1 15 45 5.7 +0.8
SLY SPDR S&P 600 Small Cap ETF 3.1 15 45 9.5 +4.6
IJR iShares Core S&P Small Cap ETF 3.1 7 53 9.6 +4.7
SPSM SPDR Portfolio Small Cap ETF 3.0 5 55 9.6 +4.7
XLV Health Care Select Sector SPDR Fund 3.0 13 47 8.1 +3.2
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 3.0 46 14 6.6 +1.8
SPLV Invesco S&P 500 Low Volatility ETF 3.0 25 35 6.7 +1.8
VIOO Vanguard S&P Small-Cap 600 ETF 3.0 10 50 9.6 +4.7
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 3.0 60 0 9.1 +4.2
IYJ iShares U.S. Industrials ETF 3.0 42 18 7.8 +2.9
ALFA AlphaClone Alternative Alpha ETF 3.0 65 -5 5.6 +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 Water Resources ETF
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 16.5 %
Divided by: Fwd. P/BV 3.0 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
1.68 CATEGORY
AVERAGE
1.51
 
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.