Invesco DWA Emerging Markets Momentum ETF
ALTAR
Score™
5.0% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
17.2x P/Sales
ratio
1.5x
P/BV
ratio
2.8x Div.
yield
2.5%


  • 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 PowerShares
Website www.powershares.com
Inception date Dec 28, 2007
Assets (mns) $148
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 100
Wgt avg mkt cap (mns) $48,300
Large cap (>$10bn) 51.1%
Mid cap ($2-10bn) 31.5%
Small cap (<$2bn) 15.6%
Developed mkts 13.0%
Emerging mkts 87.1%

TOP TEN HOLDINGS
HARTALEGA HOLDINGS BHD 4.1 %
YIHAI INTERNATIONAL HOLDING LTD. 3.8 %
TENCENT HOLDINGS LTD 3.0 %
TAL EDUCATION GROUP UNSPONSORED AD 2.9 %
SINBON ELECTRONINCS CO LTD 2.9 %
ANTA SPORTS PRODUCTS LTD 2.4 %
CP ALL PCL-NVDR 2.2 %
MICRO-STAR INTERNATIONAL CO 2.1 %
TAIWAN SEMICONDUCTOR MANUFAC 2.1 %
NASPERS LTD-N SHS 2.0 %
Total 27.4 %

TOP COUNTRY EXPOSURE
CHINA 32.0 %
TAIWAN 31.3 %
THAILAND 7.6 %
MALAYSIA 7.3 %
HONG KONG 5.4 %
SOUTH AFRICA 4.9 %
BRAZIL 2.5 %
INDONESIA 1.3 %
INDIA 1.2 %
PHILIPPINES 1.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
3.8% 14.7% 6.3% 3.9% -0.9%

Market Correlations
versus... Beta R-squared
S&P500 0.88 63%
MSCI EAFE 1.01 71%
MSCI Emg. Mkts. 0.87 82%

Technical Indicators
Recent close $19.14
30d moving avg. $19.63
Annualized volatility 19.3%
Short interest (ETF) 1.5%
Relative strength (RSI) 40

Liquidity measures
Avg. volume (thou.) 82
Turnover 1.1%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $4,152

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco DWA 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™: 5.0%


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
(%)
EEMO Invesco S&P Emerging Markets Momentum ETF 18.5 29 61 6.5 +1.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 17.8 32 58 6.0 +1.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 17.6 32 58 9.2 +4.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 17.5 30 60 7.9 +2.9
PBEE Invesco PureBeta FTSE Emerging Markets ETF 17.4 15 75 8.9 +3.9
SCHE Schwab Emerging Markets Equity ETF 17.4 11 79 8.2 +3.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 17.3 45 45 7.7 +2.7
EEMA iShares MSCI Emerging Markets Asia ETF 17.0 50 40 7.8 +2.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 16.8 20 70 7.0 +2.0
ESGE iShares ESG MSCI EM ETF 16.7 25 65 8.8 +3.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 16.6 95 -5 8.4 +3.3
JHEM John Hancock Multifactor Emerging Markets ETF 16.5 49 41 8.8 +3.8
EEM iShares MSCI Emerging Markets ETF 16.3 68 22 7.6 +2.6
EMMF WisdomTree Emerging Markets Multifactor Fund 16.3 48 42 9.7 +4.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 16.3 65 25 7.6 +2.6
VWO Vanguard FTSE Emerging Markets ETF 16.1 10 80 8.2 +3.2
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 16.0 45 45 9.2 +4.2
BKEM BNY Mellon Emerging Markets Equity ETF 15.9 11 79 8.6 +3.6
FLTW Franklin FTSE Taiwan ETF 15.7 19 71 6.4 +1.3
IEMG iShares Core MSCI Emerging Markets ETF 15.7 13 77 8.1 +3.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 15.7 36 54 7.7 +2.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 15.7 49 41 8.1 +3.1
SPEM SPDR Portfolio Emerging Markets ETF 15.6 11 79 8.1 +3.1
DVEM WisdomTree Emerging Markets Dividend Fund 15.6 32 58 7.4 +2.4
FLAX Franklin FTSE Asia Ex Japan ETF 15.3 19 71 7.9 +2.9
AAXJ iShares MSCI All Country Asia ex Japan ETF 15.3 68 22 7.2 +2.2
EWT iShares MSCI Taiwan ETF 15.0 59 31 6.1 +1.1
ECON Columbia Emerging Markets Consumer ETF 15.0 59 31 4.6 -0.4
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 14.8 30 60 9.0 +4.0
CXSE WisdomTree China ex-State-Owned Enterprises Fund 14.7 32 58 6.1 +1.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 14.6 44 46 9.2 +4.2
FEM First Trust Emerging Markets AlphaDEX Fund 14.5 80 10 14.2 +9.2
GMF SPDR S&P Emerging Asia Pacific ETF 14.4 49 41 7.5 +2.5
FLCH Franklin FTSE China ETF 14.3 19 71 8.6 +3.6
MCHI iShares MSCI China ETF 14.2 59 31 8.1 +3.1
AVEM Avantis Emerging Markets Equity ETF 13.4 33 57 9.1 +4.1
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 13.3 40 50 7.4 +2.4
CHIQ Global X China Consumer ETF 12.7 65 25 7.4 +2.4
NUEM Nuveen ESG Emerging Markets Equity ETF 12.6 45 45 7.1 +2.1
BKF iShares MSCI BRIC ETF 12.6 69 21 7.7 +2.7
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 12.5 60 30 4.5 -0.6
GXC SPDR S&P China ETF 12.5 59 31 8.3 +3.3
FDEM Fidelity Targeted Emerging Markets Factor ETF 12.5 45 45 8.8 +3.8
CHIL Global X MSCI China Large-Cap 50 ETF 12.4 29 61 8.0 +3.0
DWCR Arrow DWA Country Rotation ETF 12.4 95 -5 14.2 +9.2
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 12.4 25 65 8.1 +3.0
KALL KraneShares FTSE Emerging Markets Plus ETF 12.2 49 41 8.3 +3.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 12.0 59 31 11.4 +6.4
PXH Invesco FTSE RAFI Emerging Markets ETF 11.7 50 40 13.9 +8.9
FXI iShares China Large-Cap ETF 11.5 74 16 14.0 +9.0
CN Xtrackers MSCI All China Equity ETF 11.3 50 40 8.4 +3.4
ROAM Hartford Multifactor Emerging Markets ETF 11.2 44 46 13.4 +8.4
XCEM Columbia EM Core ex-China ETF 11.2 16 74 7.4 +2.4
FCA First Trust China AlphaDEX Fund 11.1 80 10 15.0 +10.0
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 11.0 50 40 10.7 +5.7
AIA iShares Asia 50 ETF 10.9 50 40 8.2 +3.2
RNEM Emerging Markets Equity Select ETF 10.8 75 15 12.4 +7.4
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 10.6 45 45 14.7 +9.7
EMXC iShares MSCI Emerging Markets ex China ETF 10.6 25 65 8.3 +3.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 10.4 86 4 2.3 -2.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 10.0 29 61 10.2 +5.2
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 10.0 16 74 6.9 +1.9
BICK First Trust BICK Index Fund 9.9 64 26 4.6 -0.4
KWEB KraneShares CSI China Internet ETF 9.8 76 14 2.0 -3.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 9.6 39 51 13.5 +8.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 9.0 49 41 7.9 +2.9
VSGX Vanguard ESG International Stock ETF 9.0 17 73 7.1 +2.1
GBUY Goldman Sachs Motif New Age Consumer ETF 8.9 50 40 1.8 -3.3
GENY Principal Millennials Index ETF 8.4 45 45 4.1 -0.9
ISEM Invesco Strategic Emerging Markets ETF 8.2 35 55 11.1 +6.1
FNI First Trust Chindia ETF 7.8 60 30 2.6 -2.4
PGJ Invesco Golden Dragon China ETF 7.6 70 20 3.3 -1.7
ACWX iShares MSCI ACWI ex U.S. ETF 7.5 32 58 7.3 +2.2
KMED KraneShares Emerging Markets Healthcare Index ETF 7.4 79 11 2.4 -2.6
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 7.3 40 50 7.1 +2.0
EWM iShares MSCI Malaysia ETF 7.3 49 41 6.1 +1.1
ECOW Pacer Emerging Markets Cash Cows 100 ETF 7.2 74 16 14.0 +9.0
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 7.1 60 30 9.2 +4.2
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 7.1 63 27 12.9 +7.9
FDNI First Trust Dow Jones International Internet ETF 7.1 65 25 2.2 -2.8
VIGI Vanguard International Dividend Appreciation ETF 7.0 20 70 5.5 +0.5
IXUS ishares Core MSCI Total International Stock ETF 6.7 9 81 7.4 +2.4
VXUS Vanguard Total International Stock Index Fund 6.4 8 82 7.5 +2.5
EMFM Global X MSCI Next Emerging & Frontier ETF 6.3 66 24 9.1 +4.1
GIGE SoFi Gig Economy ETF 6.3 59 31 -0.7 -5.7
PEK VanEck Vectors ChinaAMC CSI 300 ETF 6.1 60 30 7.2 +2.2
VEU Vanguard FTSE All-World ex-US Index Fund 6.1 8 82 7.6 +2.6
WUGI Esoterica NextG Economy ETF 5.9 75 15 1.6 -3.5
IQDY FlexShares International Quality Dividend Dynamic Index Fund 5.8 47 43 9.2 +4.2
OGIG O'Shares Global Internet Giants ETF 5.7 48 42 0.8 -4.2
ESPO VanEck Vectors Video Gaming & eSports ETF 5.7 55 35 2.6 -2.4
CQQQ Invesco China Technology ETF 5.7 70 20 4.1 -0.9
CWI SPDR MSCI ACWI ex-US ETF 5.7 30 60 7.2 +2.2
DWLD Davis Select Worldwide ETF 5.5 63 27 6.7 +1.7
DINT Davis Select International ETF 5.5 68 22 6.1 +1.1
AADR AdvisorShares Dorsey Wright ADR ETF 5.4 110 -20 2.9 -2.1
IQDF FlexShares International Quality Dividend Index Fund 5.2 47 43 9.0 +4.0
TTTN UP Fintech China-U.S. Internet Titans ETF 5.2 59 31 4.3 -0.8
NERD Roundhill BITKRAFT Esports & Digital Entertainment ETF 5.2 25 65 1.9 -3.1

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 DWA 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 15.5 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 90 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.37 CATEGORY
AVERAGE
1.44
 
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.