Invesco International Dividend Achievers
ALTAR
Score™
7.4% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
14.3x P/Sales
ratio
1.8x
P/BV
ratio
1.8x Div.
yield
4.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco International Dividend Achievers™ Portfolio (Fund) seeks to replicate, before fees and expenses, the International Dividend Achievers™ Index. Companies in the index have increased their annual dividend for five or more consecutive fiscal years.

FUND BASICS
Category International Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Sep 15, 2005
Assets (mns) $731
Currency USD
Expense ratio 54 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 64
Wgt avg mkt cap (mns) $46,700
Large cap (>$10bn) 78.7%
Mid cap ($2-10bn) 21.3%
Small cap (<$2bn) 0.0%
Developed mkts 77.0%
Emerging mkts 23.0%

TOP TEN HOLDINGS
SEVERSTAL - GDR REG S 3.6 %
NOVOLIPET STEEL-GDR REG S 3.5 %
ENBRIDGE INC 3.2 %
WPP PLC-SPONSORED ADR 3.2 %
BROOKFIELD PROPERTY PARTNERS LP 3.1 %
NIELSEN HOLDINGS PLC 2.9 %
GRUPO AEROPORTUARIO PAC-ADR 2.9 %
NATIONAL GRID PLC SPONSORED ADR 2.9 %
CAN IMPERIAL BK OF COMMERCE 2.7 %
VODAFONE GROUP PLC SPONSORED ADR 2.6 %
Total 30.5 %

TOP COUNTRY EXPOSURE
CANADA 41.9 %
BRITAIN 14.8 %
RUSSIA 7.1 %
MEXICO 5.8 %
BERMUDA 5.1 %
SWITZERLAND 4.1 %
UNITED STATES 3.7 %
INDIA 2.1 %
FRANCE 1.9 %
NETHERLANDS 1.8 %

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.
17.2% 13.8% 1.1% 5.6% 3.8%

Market Correlations
versus... Beta R-squared
S&P500 0.76 64%
MSCI EAFE 0.88 73%
MSCI Emg. Mkts. 0.63 62%

Technical Indicators
Recent close $16.40
30d moving avg. $16.07
Annualized volatility 11.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 75

Liquidity measures
Avg. volume (thou.) 97
Turnover 0.2%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $3,819

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PID Expense: 54 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PID
Ticker Fund
Name
Overlap1
vs PID
(%)
Expense
ratio
(bp)
Savings
vs PID
(bp)
ALTAR
Score™
(%)
ALTAR
vs PID
(%)
QCAN SPDR MSCI Canada Quality Mix 34.1 14 40 7.3 -0.1
BBCA JPMorgan BetaBuilders Canada 32.3 19 35 7.3 -0.1
EWC iShares MSCI Canada 32.2 47 7 7.2 -0.2
FLCA Franklin FTSE Canada 31.0 9 45 7.7 +0.3
ADRU BLDRs Europe 100 ADR 15.0 30 24 8.1 +0.7
ADRD BLDRs Developed Markets 100 ADR 13.6 30 24 9.0 +1.7
IGRO iShares International Dividend Growth 13.1 22 32 8.0 +0.7
DWX SPDR S&P International Dividend ETF 12.8 45 9 7.0 -0.3
AIIQ AI Powered International Equity 12.7 79 -25 4.4 -3.0
VRAI Virtus Real Asset Income ETF 11.6 55 -1 8.7 +1.3
LVL Invesco S&P Global Dividend Opportunities 11.1 64 -10 6.8 -0.6
FCAN First Trust Canada 10.1 80 -26 5.0 -2.3
GLIF AGFiQ Global Infrastructure 9.4 45 9 5.3 -2.1
TOLZ ProShares Global Infrastructure 9.4 46 8 5.3 -2.1
QVM Arrow Investments Trust QVM Equity Factor 9.2 65 -11 8.3 +1.0
IXC iShares S&P Global Energy Sector 9.2 46 8 5.2 -2.2
ICOW Pacer Developed Markets Int'l Cash Cows 100 9.1 65 -11 9.6 +2.2
IGF iShares S&P Global Infrastructure 9.0 46 8 4.8 -2.5
GII SPDR FTSE/Macquarie Global Infrastructure 9.0 40 14 4.9 -2.5
FVD First Trust Value Line Dividend 8.6 70 -16 5.8 -1.6

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

Content on this tab for subscribers only

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 International Dividend Achievers
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 13.9 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 54 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.63
 
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.