Invesco DWA Emerging Markets Momentum ETF
ALTAR
Score™
1.8% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
26.6x P/Sales
ratio
1.6x
P/BV
ratio
2.0x Div.
yield
2.0%


  • 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) $209
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) $50,234
Large cap (>$10bn) 44.2%
Mid cap ($2-10bn) 30.1%
Small cap (<$2bn) 20.0%
Developed mkts 11.0%
Emerging mkts 89.0%

TOP TEN HOLDINGS
TENCENT HOLDINGS LTD 3.3 %
SINBON ELECTRONINCS CO LTD 3.1 %
ANTA SPORTS PRODUCTS LTD 2.9 %
SHENZHOU INTERNATIONAL GROUP 2.9 %
TAIWAN SEMICONDUCTOR MANUFAC 2.6 %
ACCTON TECHNOLOGY CORP 2.5 %
LI NING CO LTD 2.1 %
NEW ORIENTAL EDUCATIO-SP ADR 1.9 %
IMPALA PLATINUM HOLDINGS LTD 1.9 %
MICROPORT SCIENTIFIC CORP 1.8 %
Total 25.0 %

TOP COUNTRY EXPOSURE
TAIWAN 30.8 %
CHINA 30.1 %
HONG KONG 9.2 %
SOUTH AFRICA 7.4 %
BRAZIL 6.7 %
INDONESIA 5.0 %
INDIA 3.5 %
MEXICO 2.3 %
THAILAND 2.1 %
MALAYSIA 1.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
21.2% 21.2% 11.0% 3.6% 0.4%

Market Correlations
versus... Beta R-squared
S&P500 0.85 61%
MSCI EAFE 0.88 66%
MSCI Emg. Mkts. 0.89 85%

Technical Indicators
Recent close $24.61
30d moving avg. $23.01
Annualized volatility 20.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 63
Turnover 0.7%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $15,303

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 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™: 1.8%


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
(%)
DFAE Dimensional Emerging Core Equity Market ETF 67.8 35 55 7.0 +5.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 16.8 49 41 7.6 +5.8
JHEM John Hancock Multifactor Emerging Markets ETF 16.6 49 41 7.4 +5.6
LDEM iShares ESG MSCI EM Leaders ETF 16.2 16 74 6.4 +4.5
PBEE Invesco PureBeta FTSE Emerging Markets ETF 16.2 15 75 7.3 +5.5
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 16.1 32 58 7.4 +5.6
FEM First Trust Emerging Markets AlphaDEX Fund 15.6 80 10 10.5 +8.6
SCHE Schwab Emerging Markets Equity ETF 15.6 11 79 6.7 +4.9
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 15.6 32 58 5.0 +3.2
EWT iShares MSCI Taiwan ETF 15.2 59 31 4.8 +3.0
SPEM SPDR Portfolio Emerging Markets ETF 15.0 11 79 6.5 +4.7
EMGF iShares MSCI Emerging Markets Multifactor ETF 14.9 45 45 8.6 +6.8
VWO Vanguard FTSE Emerging Markets ETF 14.9 10 80 6.9 +5.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 14.8 45 45 6.3 +4.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 14.8 65 25 6.0 +4.2
BKEM BNY Mellon Emerging Markets Equity ETF 14.7 11 79 6.7 +4.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 14.6 20 70 5.5 +3.6
RESE WisdomTree Emerging Markets ESG Fund 14.5 32 58 6.7 +4.8
FXI iShares China Large-Cap ETF 14.5 74 16 10.5 +8.7
EEMO Invesco S&P Emerging Markets Momentum ETF 14.5 29 61 3.3 +1.5
EEM iShares MSCI Emerging Markets ETF 14.5 70 20 6.0 +4.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 14.4 36 54 6.8 +4.9
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 14.3 30 60 6.4 +4.6
EEMA iShares MSCI Emerging Markets Asia ETF 14.2 50 40 6.3 +4.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 14.1 30 60 7.5 +5.7
IEMG iShares Core MSCI Emerging Markets ETF 14.0 11 79 6.6 +4.8
ISEM Invesco RAFI Strategic Emerging Markets ETF 14.0 35 55 8.9 +7.1
FLTW Franklin FTSE Taiwan ETF 13.9 19 71 5.1 +3.2
EMXF iShares ESG Advanced MSCI EM ETF 13.7 16 74 7.1 +5.3
ESGE iShares ESG Aware MSCI EM ETF 13.6 25 65 7.0 +5.2
CHIQ Global X MSCI China Consumer ETF 13.6 65 25 4.6 +2.8
PXH Invesco FTSE RAFI Emerging Markets ETF 13.3 50 40 11.6 +9.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 13.3 68 22 5.7 +3.8
GMF SPDR S&P Emerging Asia Pacific ETF 13.3 49 41 5.9 +4.1
FLAX Franklin FTSE Asia Ex Japan ETF 13.2 19 71 6.2 +4.4
NUEM Nuveen ESG Emerging Markets Equity ETF 13.1 45 45 5.4 +3.6
MCHI iShares MSCI China ETF 12.8 59 31 6.4 +4.5
AVEM Avantis Emerging Markets Equity ETF 12.7 33 57 7.3 +5.4
FLCH Franklin FTSE China ETF 12.7 19 71 7.0 +5.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 12.5 39 51 11.6 +9.8
BKF iShares MSCI BRIC ETF 12.4 70 20 6.2 +4.3
BICK First Trust BICK Index Fund 12.2 64 26 3.2 +1.4
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 12.0 95 -5 7.1 +5.3
GXC SPDR S&P China ETF 11.9 59 31 6.5 +4.7
KALL KraneShares MSCI All China Index ETF 11.9 49 41 6.9 +5.1
CHIL Global X MSCI China Large-Cap 50 ETF 11.8 29 61 6.2 +4.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 11.5 32 58 5.3 +3.5
DWCR Arrow DWA Country Rotation ETF 11.3 116 -26 3.6 +1.7
FCA First Trust China AlphaDEX Fund 11.3 80 10 12.8 +10.9
CEZ VictoryShares Emerging Market Volatility Wtd ETF 11.2 50 40 9.5 +7.7
XCEM Columbia EM Core ex-China ETF 11.0 16 74 5.9 +4.1
FDEM Fidelity Emerging Markets Multifactor ETF 11.0 45 45 7.7 +5.9
ROAM Hartford Multifactor Emerging Markets ETF 10.8 44 46 11.5 +9.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 10.7 59 31 10.6 +8.7
AIA iShares Asia 50 ETF 10.6 50 40 6.0 +4.1
KESG KraneShares MSCI China ESG Leaders Index ETF 10.4 59 31 8.1 +6.3
EMMF WisdomTree Emerging Markets Multifactor Fund 10.2 48 42 8.1 +6.2
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 10.0 25 65 6.4 +4.5
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 10.0 25 65 6.6 +4.8
ECON Columbia Emerging Markets Consumer ETF 9.9 59 31 4.7 +2.9
CN Xtrackers MSCI All China Equity ETF 9.8 50 40 6.9 +5.0
EMXC iShares MSCI Emerging Markets ex China ETF 9.5 25 65 6.6 +4.8
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF 9.3 44 46 8.2 +6.4
VSGX Vanguard ESG International Stock ETF 9.0 17 73 6.3 +4.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 9.0 16 74 6.0 +4.1
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 8.8 80 10 9.4 +7.5
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 8.4 45 45 12.1 +10.3
BNE Blue Horizon BNE ETF 8.0 87 3 0.9 -0.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 7.8 58 32 5.0 +3.2
JIG JPMorgan International Growth ETF 7.6 55 35 2.4 +0.6
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 7.6 61 29 7.7 +5.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 7.4 40 50 6.1 +4.3
KBUY KraneShares CICC China Consumer Leaders Index ETF 7.1 69 21 3.8 +1.9
FNI First Trust Chindia ETF 7.1 60 30 2.3 +0.5
AADR AdvisorShares Dorsey Wright ADR ETF 7.0 110 -20 3.6 +1.7
FRDM Freedom 100 Emerging Markets ETF 6.9 49 41 5.3 +3.4
ACWX iShares MSCI ACWI ex U.S. ETF 6.9 32 58 6.3 +4.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 6.8 40 50 6.1 +4.2
FBZ First Trust Brazil AlphaDEX Fund 6.7 80 10 7.4 +5.6
VIGI Vanguard International Dividend Appreciation ETF 6.6 20 70 5.0 +3.2
EWEB Global X Emerging Markets Internet & E-commerce ETF 6.6 65 25 2.5 +0.6
GENY Principal Millennials Index ETF 6.5 45 45 3.4 +1.5
IQDF FlexShares International Quality Dividend Index Fund 6.5 47 43 7.9 +6.1
IQDE FlexShares International Quality Dividend Defensive Index ET 6.2 47 43 7.8 +6.0
IXUS ishares Core MSCI Total International Stock ETF 6.1 9 81 6.4 +4.6
EWX SPDR S&P Emerging Markets Small Cap ETF 6.0 65 25 6.1 +4.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 6.0 86 4 2.1 +0.3
KGRN KraneShares MSCI China Environment Index ETF 5.9 80 10 5.8 +4.0
ECNS iShares MSCI China Small-Cap ETF 5.9 59 31 9.5 +7.7
CQQQ Invesco China Technology ETF 5.8 70 20 4.3 +2.5
CTEC Global X CleanTech ETF 5.6 50 40 0.6 -1.2
FLZA Franklin FTSE South Africa ETF 5.5 19 71 9.6 +7.8
BFIT Global X Health & Wellness Thematic ETF 5.5 50 40 4.3 +2.4
WUGI Esoterica NextG Economy ETF 5.4 75 15 1.0 -0.8
VEU Vanguard FTSE All-World ex-US Index Fund 5.4 8 82 6.7 +4.8
FLLA Franklin FTSE Latin America ETF 5.4 19 71 6.2 +4.4
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 5.3 60 30 2.3 +0.5
EZA iShares MSCI South Africa ETF 5.2 59 31 6.8 +5.0

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 5.1 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 90 bp
Equals: ALTAR Score 1.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.37 CATEGORY
AVERAGE
1.39
 
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.