Invesco DWA Emerging Markets Momentum ETF
ALTAR
Score™
5.7% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
16.4x P/Sales
ratio
1.3x
P/BV
ratio
2.3x Div.
yield
2.7%


  • 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) $120
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) $32,895
Large cap (>$10bn) 41.0%
Mid cap ($2-10bn) 42.4%
Small cap (<$2bn) 15.3%
Developed mkts 14.4%
Emerging mkts 85.6%

TOP TEN HOLDINGS
HARTALEGA HOLDINGS BHD 4.5 %
ACCTON TECHNOLOGY CORP 3.2 %
YIHAI INTERNATIONAL HOLDING LTD. 3.1 %
SINBON ELECTRONINCS CO LTD 2.9 %
ANTA SPORTS PRODUCTS LTD 2.8 %
TENCENT HOLDINGS LTD 2.6 %
TAL EDUCATION GROUP UNSPONSORED AD 2.6 %
NASPERS LTD-N SHS 2.3 %
MICRO-STAR INTERNATIONAL CO 2.1 %
NEW ORIENTAL EDUCATIO-SP ADR 1.9 %
Total 27.9 %

TOP COUNTRY EXPOSURE
CHINA 34.6 %
TAIWAN 32.7 %
MALAYSIA 8.4 %
HONG KONG 7.4 %
SOUTH AFRICA 4.7 %
BRAZIL 2.4 %
THAILAND 2.1 %
PHILIPPINES 1.4 %
MEXICO 0.5 %
TURKEY 0.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.9% 5.1% -0.2% 3.2% -2.2%

Market Correlations
versus... Beta R-squared
S&P500 0.88 63%
MSCI EAFE 1.02 73%
MSCI Emg. Mkts. 0.87 81%

Technical Indicators
Recent close $17.58
30d moving avg. $16.40
Annualized volatility 18.8%
Short interest (ETF) 0.2%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 41
Turnover 0.6%
Bid/Ask (% of price) 0.33%
ADV underlying (mns) $8,710

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 5.7%


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 20.5 30 60 7.1 +1.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 17.8 32 58 9.5 +3.8
EMMF WisdomTree Emerging Markets Multifactor Fund 17.2 48 42 9.9 +4.1
DWCR Arrow DWA Country Rotation ETF 17.1 95 -5 17.6 +11.8
EMCG WisdomTree Emerging Markets Consumer Growth Fund 17.0 32 58 7.9 +2.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 16.5 30 60 8.8 +3.0
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 16.5 64 26 5.3 -0.4
EWT iShares MSCI Taiwan ETF 16.4 59 31 6.4 +0.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 16.3 45 45 9.0 +3.2
SCHE Schwab Emerging Markets Equity ETF 15.9 13 77 8.7 +2.9
JHEM John Hancock Multifactor Emerging Markets ETF 15.9 55 35 8.8 +3.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 15.8 45 45 8.7 +3.0
FEM First Trust Emerging Markets AlphaDEX Fund 15.7 80 10 11.8 +6.0
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 15.7 20 70 7.6 +1.9
PBEE Invesco PureBeta FTSE Emerging Markets ETF 15.7 14 76 9.5 +3.8
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 15.7 40 50 7.9 +2.1
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 15.7 45 45 10.0 +4.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 15.6 95 -5 10.1 +4.4
EEMA iShares MSCI Emerging Markets Asia ETF 15.5 50 40 8.4 +2.7
ESGE iShares ESG MSCI EM ETF 15.4 25 65 9.7 +4.0
FLTW Franklin FTSE Taiwan ETF 15.3 19 71 6.7 +0.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 15.2 49 41 9.0 +3.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 15.1 32 58 6.8 +1.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 15.1 30 60 9.4 +3.7
VWO Vanguard FTSE Emerging Markets ETF 15.1 10 80 8.8 +3.1
EELV Invesco S&P Emerging Markets Low Volatility ETF 15.0 29 61 9.9 +4.2
MCHI iShares MSCI China ETF 15.0 59 31 9.1 +3.3
DVEM WisdomTree Emerging Markets Dividend Fund 14.9 32 58 9.1 +3.3
EEM iShares MSCI Emerging Markets ETF 14.7 68 22 8.3 +2.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 14.7 65 25 8.4 +2.7
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 14.4 50 40 9.9 +4.2
ECON Columbia Emerging Markets Consumer ETF 14.3 59 31 4.9 -0.8
SPEM SPDR Portfolio Emerging Markets ETF 14.2 11 79 8.6 +2.9
FLCH Franklin FTSE China ETF 14.1 19 71 9.2 +3.5
IEMG iShares Core MSCI Emerging Markets ETF 14.1 14 76 8.7 +3.0
FLAX Franklin FTSE Asia Ex Japan ETF 14.0 19 71 8.5 +2.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 13.7 68 22 8.0 +2.2
NUEM Nuveen ESG Emerging Markets Equity ETF 13.7 45 45 7.8 +2.1
CXSE WisdomTree China ex-State-Owned Enterprises Fund 13.7 32 58 7.0 +1.2
GMF SPDR S&P Emerging Asia Pacific ETF 13.7 49 41 8.0 +2.2
KALL KraneShares FTSE Emerging Markets Plus ETF 13.0 49 41 9.2 +3.4
GXC SPDR S&P China ETF 12.8 59 31 8.9 +3.2
BKF iShares MSCI BRIC ETF 12.8 69 21 8.5 +2.7
RNEM Emerging Markets Equity Select ETF 12.7 75 15 10.4 +4.7
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 12.6 45 45 13.5 +7.8
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 12.3 59 31 11.1 +5.3
FDEM Fidelity Targeted Emerging Markets Factor ETF 12.1 45 45 9.7 +4.0
AVEM Avantis Emerging Markets Equity ETF 11.7 33 57 9.5 +3.8
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 11.6 80 10 1.7 -4.0
CN Xtrackers MSCI All China Equity ETF 11.6 50 40 9.4 +3.6
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 11.5 25 65 8.4 +2.7
CHIL Global X MSCI China Large-Cap 50 ETF 11.4 29 61 9.5 +3.8
PXH Invesco FTSE RAFI Emerging Markets ETF 11.2 50 40 13.7 +8.0
CHIQ Global X China Consumer ETF 10.6 65 25 9.2 +3.4
ISEM Invesco Strategic Emerging Markets ETF 10.4 35 55 10.3 +4.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 10.0 39 51 13.1 +7.4
FCA First Trust China AlphaDEX Fund 9.8 80 10 15.0 +9.2
WCHN WisdomTree ICBCCS S&P China 500 Fund 9.8 55 35 9.2 +3.5
ROAM Hartford Multifactor Emerging Markets ETF 9.7 44 46 14.8 +9.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 9.6 49 41 8.3 +2.5
EMXC iShares MSCI Emerging Markets ex China ETF 9.5 49 41 8.4 +2.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 9.2 86 4 2.3 -3.4
ECOW Pacer Emerging Markets Cash Cows 100 ETF 9.2 70 20 13.0 +7.3
BICK First Trust BICK Index Fund 9.0 64 26 4.4 -1.3
AIA iShares Asia 50 ETF 8.9 50 40 8.9 +3.2
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 8.8 60 30 8.4 +2.7
FXI iShares China Large-Cap ETF 8.8 74 16 13.5 +7.8
AXJL WisdomTree Asia Pacific ex-Japan Fund 8.4 48 42 10.0 +4.3
KWEB KraneShares CSI China Internet ETF 8.3 76 14 3.4 -2.3
XCEM Columbia EM Core ex-China ETF 8.0 16 74 7.8 +2.1
GBUY Goldman Sachs Motif New Age Consumer ETF 7.9 50 40 2.1 -3.6
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 7.9 16 74 7.1 +1.4
PGJ Invesco Golden Dragon China ETF 7.7 70 20 3.4 -2.3
GENY Principal Millennials Index ETF 7.2 45 45 4.0 -1.8
FNI First Trust Chindia ETF 7.0 59 31 3.4 -2.3
FDNI First Trust Dow Jones International Internet ETF 7.0 65 25 2.8 -2.9
CHII Global X China Industrials ETF 6.7 66 24 12.4 +6.7
VSGX Vanguard ESG International Stock ETF 6.7 17 73 7.4 +1.7
EWM iShares MSCI Malaysia ETF 6.5 49 41 5.8 +0.1
ACWX iShares MSCI ACWI ex U.S. ETF 6.2 32 58 7.5 +1.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 6.1 40 50 7.4 +1.7
DEM WisdomTree Emerging Markets High Dividend Fund 6.0 63 27 14.2 +8.5
EDIV SPDR S&P Emerging Markets Dividend ETF 5.7 49 41 11.5 +5.7
VXUS Vanguard Total International Stock Index Fund 5.6 8 82 7.7 +2.0
DWLD Davis Select Worldwide ETF 5.4 64 26 6.6 +0.9
DINT Davis Select International ETF 5.4 75 15 5.8 +0.1
IXUS ishares Core MSCI Total International Stock ETF 5.4 9 81 7.6 +1.8
VEU Vanguard FTSE All-World ex-US Index Fund 5.3 8 82 7.7 +2.0
ESPO VanEck Vectors Video Gaming & eSports ETF 5.2 55 35 3.0 -2.8
AADR WCM/BNY Mellon Focused Growth ADR ETF 5.2 110 -20 3.5 -2.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 5.2 63 27 13.2 +7.4
VIGI Vanguard International Dividend Appreciation ETF 5.1 25 65 5.9 +0.2
KMED KraneShares Emerging Markets Healthcare Index ETF 5.1 79 11 2.4 -3.3
PEK VanEck Vectors ChinaAMC CSI 300 ETF 4.9 60 30 8.1 +2.4
CHIS Global X MSCI China Consumer Staples ETF 4.8 65 25 3.7 -2.0
NERD Roundhill BITKRAFT Esports & Digital Entertainment ETF 4.7 25 65 2.3 -3.4
FLZA Franklin FTSE South Africa ETF 4.7 19 71 11.6 +5.9
EZA iShares MSCI South Africa ETF 4.7 59 31 9.6 +3.9
TTTN UP Fintech China-U.S. Internet Titans ETF 4.7 59 31 5.0 -0.7
IQDF FlexShares International Quality Dividend Index Fund 4.6 47 43 12.9 +7.2

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 14.9 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 90 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 CATEGORY
AVERAGE
1.45
 
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.