Invesco Dorsey Wright Emerging Markets Momentum ETF
ALTAR
Score™		 4.2% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 17.9x P/Sales
ratio		 1.6x
P/BV
ratio		 2.1x Div.
yield		 1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco DWA Emerging Markets Technical Leaders Portfolio seeks investment results that correspond to the price and yield of the Dorsey Wright Emerging Markets Technical Leaders Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Dec 28, 2007
Assets (mns) $215
Currency USD
Expense ratio 90 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 112
Wgt avg mkt cap (mns) $47,174
Large cap (>$10bn) 27.4%
Mid cap ($2-10bn) 47.5%
Small cap (<$2bn) 25.1%
Developed mkts 1.6%
Emerging mkts 98.4%

TOP TEN HOLDINGS
MARKETECH INTERNATIONAL CORP. 4.0 %
ACCTON TECHNOLOGY CORP 3.8 %
UNITED INTEGRATED SERVICES 3.2 %
SIGURD MICROELECTRONICS CORP 3.2 %
TOPCO SCIENTIFIC CO LTD 3.1 %
TAIWAN SEMICONDUCTOR MANUFAC 3.0 %
NANYA TECHNOLOGY CORPORATION 2.5 %
YANKEY ENGINEERING CO LTD ORDINARY 2.2 %
WINBOND ELECTRONICS CORP 2.2 %
TISCO FINANCIAL GROUP-NVDR 2.1 %
Total 29.3 %

TOP COUNTRY EXPOSURE
TAIWAN 60.7 %
CHINA 9.1 %
SOUTH AFRICA 3.9 %
THAILAND 3.6 %
BRAZIL 3.2 %
MEXICO 3.1 %
MALAYSIA 2.7 %
TURKEY 1.7 %
PHILIPPINES 1.2 %
HUNGARY 0.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
42.3% 62.8% 6.7% 10.3% 3.1%

Market Correlations
versus... Beta R-squared
S&P500 1.34 47%
MSCI EAFE 1.06 46%
MSCI Emg. Mkts. 0.93 76%

Technical Indicators
Recent close $28.38
30d moving avg. $32.25
Annualized volatility 15.9%
Short interest (ETF) 4.8%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 134
Turnover 1.8%
Bid/Ask (% of price) 0.65%
ADV underlying (mns) $2,824

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 259 potential alternatives to the Invesco Dorsey Wright Emerging Markets Momentum ETF ETF based on the alternatives' overlap in portfolio holdings with PIE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PIE Expense: 90 bp ALTAR Score™: 4.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PIE
Ticker Fund
Name		 Overlap1
vs PIE
(%)		 Expense
ratio
(bp)		 Savings
vs PIE
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs PIE
(%)
FEM First Trust Emerging Markets AlphaDEX Fund 24.8 80 10 9.5 +5.4
EWT iShares MSCI Taiwan ETF 23.3 58 32 3.4 -0.7
EEMO Invesco S&P Emerging Markets Momentum ETF 18.0 29 61 7.7 +3.5
EMMF WisdomTree Emerging Markets Multifactor Fund 17.2 48 42 9.3 +5.1
ROAM Hartford Multifactor Emerging Markets ETF 16.9 44 46 8.0 +3.9
ECON Columbia Emerging Markets Consumer ETF 15.5 49 41 7.2 +3.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 15.4 32 58 5.2 +1.0
JHEM John Hancock Multifactor Emerging Markets ETF 14.5 49 41 8.1 +3.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 14.4 50 40 8.9 +4.7
UEVM VictoryShares Emerging Markets Value Momentum ETF 14.2 45 45 9.6 +5.5
VEXC Vanguard Emerging Markets Ex-China ETF 13.8 7 83 6.0 +1.9
JADE JPMorgan Active Developing Markets Equity ETF 13.6 65 25 6.4 +2.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 13.6 30 60 8.0 +3.8
PXH Invesco FTSE RAFI Emerging Markets ETF 13.6 49 41 13.6 +9.5
XCNY SPDR S&P Emerging Markets ex-China ETF 13.4 15 75 6.0 +1.8
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 13.0 25 65 6.4 +2.2
GMF SPDR S&P Emerging Asia Pacific ETF 12.9 49 41 9.1 +4.9
FDEM Fidelity Emerging Markets Multifactor ETF 12.8 25 65 11.1 +6.9
DEHP Dimensional Emerging Markets High Profitability ETF 12.7 41 49 5.3 +1.2
EMXF iShares ESG Advanced MSCI EM ETF 12.5 16 74 7.0 +2.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 12.5 33 57 7.3 +3.1
EMGF iShares Emerging Markets Equity Factor ETF 12.5 25 65 9.6 +5.5
SPEM SPDR Portfolio Emerging Markets ETF 12.2 7 83 9.8 +5.7
AVEM Avantis Emerging Markets Equity ETF 12.0 33 57 7.6 +3.4
JIVE JPMorgan International Value ETF 11.9 55 35 8.2 +4.0
VWO Vanguard FTSE Emerging Markets ETF 11.8 7 83 9.5 +5.4
STXE Strive Emerging Markets Ex-China ETF 11.7 32 58 5.9 +1.7
FTHF First Trust Emerging Markets Human Flourishing ETF 11.7 75 15 6.5 +2.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 11.7 32 58 8.1 +4.0
MINV Matthews Asia Innovators Active ETF 11.5 79 11 6.0 +1.8
EMXC iShares MSCI Emerging Markets ex China ETF 11.5 25 65 5.6 +1.5
SCHE Schwab Emerging Markets Equity ETF 11.4 11 79 9.8 +5.6
AVSE Avantis Responsible Emerging Markets Equity ETF 11.3 33 57 7.2 +3.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 11.2 24 66 5.7 +1.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 11.1 44 46 9.5 +5.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 11.0 15 75 8.6 +4.4
BKEM BNY Mellon Emerging Markets Equity ETF 11.0 11 79 25.9 +21.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 11.0 36 54 8.2 +4.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 10.9 95 -5 10.5 +6.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 10.8 39 51 13.8 +9.7
AVES Avantis Emerging Markets Value ETF 10.8 36 54 9.6 +5.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 10.8 30 60 8.6 +4.4
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 10.7 69 21 8.1 +4.0
EEM iShares MSCI Emerging Markets ETF 10.7 69 21 8.4 +4.3
IEMG iShares Core MSCI Emerging Markets ETF 10.7 9 81 8.8 +4.7
LDEM iShares ESG MSCI EM Leaders ETF 10.5 17 73 13.4 +9.2
DFEM Dimensional Emerging Markets Core Equity 2 ETF 10.5 38 52 7.6 +3.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 10.5 66 24 7.9 +3.7
EEMA iShares MSCI Emerging Markets Asia ETF 10.4 49 41 8.0 +3.9
DFAE Dimensional Emerging Core Equity Market ETF 10.3 35 55 7.5 +3.4
EMDM First Trust Bloomberg Emerging Market Democracies ETF 10.1 75 15 6.9 +2.7
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 9.9 15 75 9.5 +5.3
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 9.9 41 49 7.4 +3.3
FLAX Franklin FTSE Asia Ex Japan ETF 9.8 19 71 7.7 +3.5
ESGE iShares ESG Aware MSCI EM ETF 9.7 25 65 8.9 +4.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 9.7 59 31 9.2 +5.0
EYLD Cambria Emerging Shareholder Yield ETF 9.6 66 24 9.5 +5.3
DEXC Dimensional Emerging Markets ex China Core EquityETF 9.5 53 37 5.7 +1.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 9.4 45 45 8.6 +4.5
GTEK Goldman Sachs Future Tech Leaders Equity ETF 9.3 75 15 2.1 -2.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 9.3 70 20 7.5 +3.3
DFEV Dimensional Emerging Markets Value ETF 9.3 43 47 10.1 +6.0
XCEM Columbia EM Core ex-China ETF 8.6 16 74 5.5 +1.3
EELV Invesco S&P Emerging Markets Low Volatility ETF 8.3 29 61 8.8 +4.7
NUEM Nuveen ESG Emerging Markets Equity ETF 8.3 36 54 6.4 +2.3
MEM Matthews Emerging Markets Equity Active ETF 8.3 79 11 9.1 +5.0
BAI iShares AI Innovation and Tech Active ETF 8.2 55 35 1.3 -2.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 7.7 40 50 6.5 +2.4
AVXC Avantis Emerging Markets Ex-China Equity ETF 7.4 33 57 6.7 +2.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 7.4 70 20 7.1 +3.0
RNEM First Trust Emerging Markets Equity Select ETF 7.0 75 15 7.9 +3.7
JIG JPMorgan International Growth ETF 6.8 55 35 3.9 -0.3
FRGN Horizon International Equity ETF 6.8 75 15 8.1 +4.0
AIA iShares Asia 50 ETF 6.7 50 40 8.4 +4.2
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 6.6 60 30 9.4 +5.2
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 6.3 58 32 9.0 +4.8
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 6.2 88 2 8.4 +4.2
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 6.2 80 10 13.0 +8.9
WRND IQ Global Equity R&D Leaders ETF 5.8 18 72 4.3 +0.1
FRDM Freedom 100 Emerging Markets ETF 5.8 49 41 6.0 +1.8
XC WisdomTree Emerging Markets Ex-China Fund 5.8 32 58 6.5 +2.4
VSGX Vanguard ESG International Stock ETF 5.7 10 80 6.8 +2.6
GXUS Goldman Sachs MarketBeta Total International Equity ETF 5.7 18 72 6.5 +2.3
ACWX iShares MSCI ACWI ex U.S. ETF 5.5 34 56 6.5 +2.4
IXUS iShares Core MSCI Total International Stock ETF 5.5 7 83 6.8 +2.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 5.4 42 48 4.2 +0.0
VEU Vanguard FTSE All-World ex-US Index Fund 5.3 4 86 6.9 +2.7
VXUS Vanguard Total International Stock ETF 5.3 5 85 6.8 +2.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 5.3 41 49 6.0 +1.9
VIDI Vident International Equity Strategy ETF 5.2 61 29 8.5 +4.4
EDIV SPDR S&P Emerging Markets Dividend ETF 5.0 49 41 9.0 +4.8
ARTY iShares Future AI & Tech ETF 5.0 47 43 2.9 -1.2
EMM Global X Emerging Markets ex-China ETF 4.9 75 15 5.3 +1.1
EMC Global X Emerging Markets Great Consumer ETF 4.9 75 15 7.8 +3.6
OAIM OneAscent International Equity ETF 4.9 95 -5 4.8 +0.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 4.7 30 60 6.6 +2.5
DEM WisdomTree Emerging Markets High Dividend Fund 4.7 63 27 10.6 +6.5
EWX SPDR S&P Emerging Markets Small Cap ETF 4.4 65 25 7.2 +3.0
PATN Pacer Nasdaq International Patent Leaders ETF 4.2 65 25 4.4 +0.3
CGXU Capital Group International Focus Equity ETF 4.2 54 36 4.0 -0.2
FLN First Trust Latin America AlphaDEX Fund 4.2 80 10 10.1 +5.9
FCA First Trust China AlphaDEX Fund 4.2 80 10 8.4 +4.2
AVEE Avantis Emerging Markets Small Cap Equity ETF 4.2 42 48 8.4 +4.3
FLLA Franklin FTSE Latin America ETF 4.1 19 71 10.8 +6.6
IQDF FlexShares International Quality Dividend Index Fund 4.1 47 43 7.6 +3.5
AQLT iShares MSCI Global Quality Factor ETF 4.1 18 72 0.0 -4.2
CHAT Roundhill Generative AI & Technology ETF 3.9 75 15 5.1 +1.0
CLNR IQ Cleaner Transport ETF 3.8 45 45 4.0 -0.2
AIS VistaShares Artificial Intelligence Supercycle ETF 3.8 75 15 1.3 -2.8
DOL WisdomTree International LargeCap Dividend Fund 3.7 48 42 5.7 +1.5
IXN iShares Global Tech ETF 3.6 41 49 3.0 -1.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 3.5 47 43 7.4 +3.2
DVYE iShares Emerging Markets Dividend ETF 3.5 49 41 17.8 +13.7
FXI iShares China Large-Cap ETF 3.5 74 16 20.4 +16.3
JCHI JPMorgan Active China ETF 3.5 65 25 15.3 +11.1
KNCT Invesco Next Gen Connectivity ETF 3.4 40 50 3.3 -0.9
IHAK iShares Cybersecurity & Tech ETF 3.4 47 43 3.5 -0.7
AIVC Amplify Bloomberg AI Value Chain ETF 3.4 59 31 4.1 -0.1
IGRO iShares International Dividend Growth ETF 3.2 15 75 6.5 +2.4
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 3.2 12 78 4.6 +0.4
EVLU iShares MSCI Emerging Markets Value Factor ETF 3.2 35 55 10.5 +6.4
FLCH Franklin FTSE China ETF 3.2 19 71 18.1 +14.0
BKF iShares MSCI BIC ETF 3.1 69 21 14.6 +10.5
MCHI iShares MSCI China ETF 3.1 59 31 20.3 +16.2
KLMT Invesco MSCI Global Climate 500 ETF 3.1 10 80 5.0 +0.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 3.0 20 70 4.9 +0.7
EWW iShares MSCI Mexico ETF 3.0 50 40 8.4 +4.3
TINY ProShares Nanotechnology ETF 3.0 58 32 1.6 -2.6
AGQI First Trust Active Global Quality Income ETF 3.0 85 5 6.4 +2.3
FBOT Fidelity Disruptive Automation ETF 3.0 50 40 3.1 -1.0
AGIX KraneShares Artificial Intelligence and Technology ETF 2.9 99 -9 1.3 -2.8
FLMX Franklin FTSE Mexico ETF 2.9 19 71 8.9 +4.7
GXC SPDR S & P China ETF 2.9 59 31 19.0 +14.8
ACWV iShares MSCI Global Min Vol Factor ETF 2.8 20 70 5.6 +1.5
ACWI iShares MSCI ACWI ETF 2.7 32 58 4.8 +0.6
JSTC Adasina Social Justice All Cap Global ETF 2.6 89 1 4.4 +0.2
NXTG First Trust Indxx NextG ETF 2.6 70 20 3.8 -0.4
GLOF iShares Global Equity Factor ETF 2.6 20 70 5.7 +1.5
ECOW Pacer Emerging Markets Cash Cows 100 ETF 2.5 70 20 9.3 +5.2
ILF iShares Latin America 40 ETF 2.5 48 42 9.7 +5.6
VT Vanguard Total World Stock ETF 2.5 6 84 5.1 +1.0
VYMI Vanguard International High Dividend Yield ETF 2.5 17 73 7.8 +3.7
DTCR Global X Data Center & Digital Infrastructure ETF 2.3 50 40 3.7 -0.4
XT iShares Exponential Technologies ETF 2.3 46 44 4.1 -0.0
FLBR Franklin FTSE Brazil ETF 2.3 19 71 12.0 +7.9
CWI SPDR MSCI ACWI ex-US ETF 2.3 30 60 6.6 +2.4
ASEA Global X FTSE Southeast Asia ETF 2.2 65 25 5.2 +1.0
MOTG VanEck Morningstar Global Wide Moat ETF 2.1 52 38 7.8 +3.7
FPXI First Trust International Equity Opportunities ETF 2.0 70 20 4.3 +0.2
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 1.9 46 44 7.9 +3.7
ADIV SmartETFs Asia Pacific Dividend Builder ETF 1.9 78 12 9.4 +5.3
ANEW ProShares MSCI Transformational Changes ETF 1.9 45 45 4.4 +0.2
EDOG ALPS Emerging Sector Dividend Dogs ETF 1.8 60 30 10.7 +6.5
GVAL Cambria Global Value ETF 1.8 68 22 8.7 +4.6
EWZ iShares MSCI Brazil ETF 1.8 58 32 10.8 +6.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 1.8 47 43 5.0 +0.9
WTAI WisdomTree Artificial Intelligence and Innovation Fund 1.8 45 45 2.4 -1.8
EWM iShares MSCI Malaysia ETF 1.8 50 40 6.5 +2.4
MOTI VanEck Morningstar International Moat ETF 1.8 58 32 9.7 +5.6
TUR iShares MSCI Turkey ETF 1.7 58 32 13.6 +9.5
THD iShares MSCI Thailand ETF 1.7 58 32 0.0 -4.2
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 1.6 10 80 8.4 +4.2
IBAT iShares Energy Storage & Materials ETF 1.5 47 43 1.9 -2.2
EZA iShares MSCI South Africa ETF 1.5 58 32 9.8 +5.7
PICK iShares MSCI Global Metals & Mining Producers ETF 1.4 39 51 8.7 +4.5
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 1.4 8 82 6.7 +2.5
EWZS iShares MSCI Brazil Small-Cap ETF 1.4 59 31 12.4 +8.2
AFK VanEck Africa Index ETF 1.4 98 -8 11.7 +7.5
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.3 67 23 12.4 +8.3
PBD Invesco Global Clean Energy ETF 1.3 75 15 0.4 -3.8
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.3 12 78 8.4 +4.3
HAP VanEck Natural Resources ETF 1.3 50 40 6.9 +2.7
CTEC Global X CleanTech ETF 1.3 50 40 0.1 -4.1
CCNR ALPS CoreCommodity Natural Resources ETF 1.2 39 51 8.6 +4.5
SHPP Pacer Industrials and Logistics ETF 1.2 60 30 6.6 +2.5
EPHE iShares MSCI Philippines ETF 1.2 59 31 0.0 -4.2
TMFG Motley Fool Global Opportunities ETF 1.2 85 5 3.8 -0.4
GMET VanEck Green Metals ETF 1.2 63 27 1.2 -2.9
WWJD Inspire International ETF 1.2 80 10 6.3 +2.2
ECNS iShares MSCI China Small-Cap ETF 1.1 59 31 9.8 +5.7
CGW Invesco S&P Global Water Index ETF 1.1 57 33 4.5 +0.3
EFRA iShares Environmental Infrastructure and Industrials ETF 1.1 47 43 4.9 +0.8
RWX SPDR Dow Jones International Real Estate ETF 1.0 59 31 7.0 +2.8
AVRE Avantis Real Estate ETF 1.0 17 73 6.6 +2.4
GEW Cambria Global EW ETF 0.9 29 61 5.4 +1.2
POW VistaShares Electrification Supercycle ETF 0.9 75 15 2.6 -1.5
BRAZ Global X Brazil Active ETF 0.9 75 15 10.5 +6.4
OCEN IQ Clean Oceans ETF 0.9 45 45 4.6 +0.5
ROBO ROBO Global Robotics & Automation Index ETF 0.9 95 -5 2.6 -1.5
BRF VanEck Brazil Small-Cap ETF 0.9 66 24 12.1 +7.9
DSTX Distillate International Fundamental Stability & Value ETF 0.9 55 35 6.4 +2.2
JGLO JPMorgan Global Select Equity ETF 0.8 33 57 4.4 +0.2
FAN First Trust Global Wind Energy ETF 0.8 60 30 3.1 -1.1
ICOP iShares Copper and Metals Mining ETF 0.8 47 43 6.0 +1.9
MXI iShares Global Materials ETF 0.8 41 49 6.2 +2.1
BATT Amplify Lithium & Battery Technology ETF 0.8 59 31 2.2 -1.9
QTUM Defiance Quantum ETF 0.8 40 50 4.2 +0.1
IGPT Invesco AI and Next Gen Software ETF 0.8 60 30 2.8 -1.3
FPAG FPA Global Equity ETF 0.8 49 41 5.6 +1.5
ICLN iShares Global Clean Energy ETF 0.8 41 49 2.2 -1.9
FEOE First Eagle Overseas Equity ETF 0.8 79 11 6.0 +1.9
IXC iShares Global Energy ETF 0.8 44 46 7.3 +3.1
CHPX Global X AI Semiconductor & Quantum ETF 0.8 50 40 2.0 -2.2
SDIV Global X Superdividend ETF 0.7 58 32 13.7 +9.5
TTAI FCF International Quality ETF 0.7 59 31 6.9 +2.8
SHLD Global X Defense Tech ETF 0.7 50 40 3.2 -0.9
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.7 9 81 5.0 +0.8
CXSE WisdomTree China ex-State-Owned Enterprises Fund 0.7 32 58 14.4 +10.2
CGGR Capital Group Growth ETF 0.7 39 51 2.8 -1.4
DFGR Dimensional Global Real Estate ETF 0.6 22 68 6.7 +2.6
OTGL OTG Latin America ETF 0.6 269 -179 7.8 +3.7
JHDV John Hancock U.S. High Dividend ETF 0.6 34 56 6.0 +1.8
CZA Invesco Zacks Mid-Cap ETF 0.6 72 18 5.5 +1.4
FDLS Inspire Fidelis Multi Factor ETF 0.6 76 14 3.2 -1.0
FFND Future Fund Active ETF 0.6 100 -10 4.4 +0.3
EPU iShares MSCI Peru and Global Exposure ETF 0.6 59 31 4.6 +0.4
REET iShares Global REIT ETF 0.6 14 76 6.6 +2.5
PIO Invesco Global Water ETF 0.6 75 15 4.5 +0.3
IXG iShares Global Financials ETF 0.6 42 48 5.9 +1.7
BLES Inspire Global Hope ETF 0.6 61 29 5.7 +1.6
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.6 65 25 1.5 -2.7
JXI iShares Global Utilities ETF 0.6 43 47 5.2 +1.1
RWO SPDR Dow Jones Global Real Estate ETF 0.5 50 40 6.0 +1.8
FEGE First Eagle Global Equity ETF 0.5 79 11 6.0 +1.8
GPT Intelligent Alpha Atlas ETF 0.5 69 21 6.4 +2.2
SCHY Schwab International Dividend Equity ETF 0.5 14 76 8.2 +4.0
RCGE RockCreek Global Equality ETF 0.5 95 -5 5.8 +1.6
AQWA Global X Clean Water ETF 0.5 50 40 5.0 +0.9
BINV Brandes International ETF 0.5 70 20 8.2 +4.0
BLDG Cambria Global Real Estate ETF 0.5 60 30 10.5 +6.3
FDTX Fidelity Disruptive Technology ETF 0.5 50 40 1.9 -2.3
VGSR Vert Global Sustainable Real Estate ETF 0.5 47 43 6.7 +2.5
TAN Invesco Solar ETF 0.4 67 23 5.4 +1.2
AIQ Global X Artificial Intelligence & Technology ETF 0.4 68 22 3.1 -1.0
NATO Themes Transatlantic Defense ETF 0.4 35 55 1.8 -2.3
MCH Matthews China Active ETF 0.4 79 11 15.2 +11.1
DWX SPDR S&P International Dividend ETF 0.4 45 45 6.6 +2.4
BOAT SonicShares Global Shipping ETF 0.4 69 21 20.3 +16.1
EMIF iShares Emerging Markets Infrastructure ETF 0.4 60 30 3.0 -1.2
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.4 58 32 3.9 -0.2
EIDO iShares MSCI Indonesia ETF 0.4 59 31 11.3 +7.1
IDX VanEck Indonesia Index ETF 0.4 57 33 10.3 +6.1
GOEX Global X Gold Explorers ETF 0.4 65 25 2.7 -1.5
CARZ First Trust NASDAQ Global Auto Index Fund 0.4 70 20 2.7 -1.5
FRNW Fidelity Clean Energy ETF 0.3 39 51 2.1 -2.0
DTEC ALPS Disruptive Technologies ETF 0.3 50 40 3.6 -0.6
FTAG First Trust Indxx Global Agriculture ETF 0.3 70 20 7.0 +2.8
DEW WisdomTree Global High Dividend Fund 0.3 58 32 6.9 +2.8
GNR SPDR S&P Global Natural Resources ETF 0.2 40 50 8.6 +4.4
IPAV Global X Infrastructure Development ex-U.S. ETF 0.2 55 35 6.2 +2.0
SRVR Pacer Data & Infrastructure Real Estate ETF 0.2 55 35 4.3 +0.1
GINN Goldman Sachs Innovate Equity ETF 0.1 52 38 3.8 -0.4
VYM Vanguard High Dividend Yield Index ETF 0.1 6 84 6.0 +1.8
IPKW Invesco International BuyBack Achievers ETF 0.1 55 35 7.9 +3.8
IGF iShares Global Infrastructure ETF 0.1 41 49 4.3 +0.1
GII SPDR S&P Global Infrastructure ETF 0.1 40 50 4.3 +0.1
SDG iShares MSCI Global Sustainable Development Goals ETF 0.1 49 41 4.6 +0.5
XMAG Defiance Large Cap ex-Mag 7 ETF 0.1 35 55 4.3 +0.2
ESGV Vanguard ESG U.S. Stock ETF 0.0 9 81 4.3 +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

  2020 2021 2022 2023 2024 2025E 2026E
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VALUATION METRICS
  2024 2025E 2026E
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Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Invesco Dorsey Wright Emerging Markets Momentum ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.8 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 90 bp
Equals: ALTAR Score 4.2 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.51 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.