Invesco Global Water ETF
ALTAR
Score™
5.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
17.9x P/Sales
ratio
1.6x
P/BV
ratio
2.7x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco Global Water Portfolio seeks investment results that correspond to the price and yield of the Palisades Global Water Index, a modified equal-weighted index that tracks global companies.

FUND BASICS
Category Global Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jun 13, 2007
Assets (mns) $155
Currency USD
Expense ratio 75 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 42
Wgt avg mkt cap (mns) $21,111
Large cap (>$10bn) 54.8%
Mid cap ($2-10bn) 43.2%
Small cap (<$2bn) 2.0%
Developed mkts 96.2%
Emerging mkts 3.8%

TOP TEN HOLDINGS
DANAHER CORP 9.5 %
ECOLAB INC 8.1 %
GEBERIT AG-REG 7.8 %
WOLSELEY PLC 5.2 %
AMERICAN WATER WORKS CO INC 4.8 %
ROPER INDUSTRIES INC 4.3 %
WATERS CORP 4.1 %
PENTAIR PLC 3.9 %
VEOLIA ENVIRONNEMENT 3.8 %
UNITED UTILITIES GROUP PLC 3.6 %
Total 55.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 42.7 %
BRITAIN 26.0 %
SWITZERLAND 7.8 %
FRANCE 6.3 %
JAPAN 4.5 %
HONG KONG 3.1 %
BRAZIL 2.4 %
ITALY 1.9 %
NETHERLANDS 1.3 %
SPAIN 1.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-20.6% -7.6% 2.7% 4.6% 1.1%

Market Correlations
versus... Beta R-squared
S&P500 0.95 84%
MSCI EAFE 0.98 86%
MSCI Emg. Mkts. 0.74 72%

Technical Indicators
Recent close $23.14
30d moving avg. $26.51
Annualized volatility 15.8%
Short interest (ETF) 0.4%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 41
Turnover 0.6%
Bid/Ask (% of price) 0.55%
ADV underlying (mns) $2,903

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco Global Water ETF ETF based on the alternatives' overlap in portfolio holdings with PIO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PIO Expense: 75 bp ALTAR Score™: 5.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PIO
Ticker Fund
Name
Overlap1
vs PIO
(%)
Expense
ratio
(bp)
Savings
vs PIO
(bp)
ALTAR
Score™
(%)
ALTAR
vs PIO
(%)
CGW Invesco S&P Global Water Index ETF 54.7 62 13 5.2 -0.1
TBLU Tortoise Water Fund 46.9 40 35 6.5 +1.2
PHO Invesco Water Resources ETF 45.9 60 15 5.0 -0.3
FIW First Trust Water ETF 30.6 55 20 5.2 -0.1
FTRI First Trust Indxx Global Natural Resources Income ETF 13.2 70 5 13.9 +8.6
PRN Invesco DWA Industrials Momentum ETF 11.5 60 15 6.4 +1.1
XKII SPDR Kensho Intelligent Structures ETF 8.5 45 30 8.6 +3.3
IYM iShares U.S. Basic Materials ETF 8.1 42 33 8.0 +2.7
RGI Invesco S&P 500 Equal Weight Industrials ETF 7.8 40 35 8.4 +3.1
XLB Materials Select Sector SPDR Fund 7.5 13 62 8.2 +2.9
IHI iShares U.S. Medical Devices ETF 7.2 43 32 4.5 -0.8
PUI Invesco DWA Utilities Momentum ETF 6.6 60 15 5.2 -0.1
GRES IQ Global Resources ETF 6.3 77 -2 9.2 +3.9
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 6.3 75 0 7.2 +1.9
VAW Vanguard Materials Index Fund 6.2 10 65 8.6 +3.3
NOBL ProShares S&P 500 Dividend Aristocrats ETF 6.2 35 40 7.5 +2.3
FMAT Fidelity MSCI Materials Index ETF 6.1 8 67 8.6 +3.3
SUSA iShares MSCI USA ESG Select ETF 6.1 25 50 6.3 +1.0
PZD Invesco Cleantech ETF 5.5 68 7 7.1 +1.8
BIBL Inspire ETF 5.5 35 40 6.3 +1.0
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 5.3 46 29 6.7 +1.4
NUMG Nuveen ESG Mid-Cap Growth ETF 5.3 40 35 4.6 -0.7
UTES Virtus Reaves Utilities ETF 4.8 49 26 5.6 +0.3
PIZ Invesco DWA Developed Markets Momentum ETF 4.7 80 -5 5.4 +0.1
GLIF AGFiQ Global Infrastructure ETF 4.7 45 30 6.1 +0.8
PDP Invesco DWA Momentum ETF 4.6 62 13 3.8 -1.5
CWS AdvisorShares Focused Equity ETF 4.5 85 -10 6.9 +1.6
FKU First Trust United Kingdom AlphaDEX Fund 4.5 80 -5 13.9 +8.6
DEF Invesco Defensive Equity ETF 4.5 55 20 6.5 +1.2
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 4.3 25 50 7.8 +2.5
RYU Invesco S&P 500 Equal Weight Utilities ETF 4.2 40 35 6.8 +1.5
SDG iShares Sustainable MSCI Global Impact ETF 4.2 49 26 7.5 +2.3
JXI iShares Global Utilities ETF 4.2 46 29 6.8 +1.5
HUSV First Trust Horizon Managed Volatility Domestic ETF 4.1 70 5 6.7 +1.4
RTM Invesco S&P 500 Equal Weight Materials ETF 4.1 40 35 8.5 +3.2
JHMU John Hancock Multifactor Utilities ETF 4.1 40 35 6.8 +1.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 4.1 47 28 7.9 +2.6
GUNR Flexshares Morningstar Global Upstream Natural Resources 4.1 46 29 7.9 +2.6
EUDV ProShares MSCI Europe Dividend Growers ETF 3.9 55 20 8.7 +3.4
PYZ Invesco DWA Basic Materials Momentum ETF 3.9 60 15 9.0 +3.7
IEHS iShares Evolved U.S. Healthcare Staples ETF 3.8 18 57 7.0 +1.7
JHMA John Hancock Multifactor Materials ETF 3.7 40 35 9.6 +4.3
XLI Industrial Select Sector SPDR Fund 3.7 13 62 8.1 +2.8
FEUZ First Trust Eurozone AlphaDEX ETF 3.7 80 -5 9.9 +4.6
VPU Vanguard Utilities Index Fund 3.7 10 65 6.5 +1.2
IDU iShares U.S. Utilities ETF 3.6 43 32 6.3 +1.0
EFAD ProShares MSCI EAFE Dividend Growers ETF 3.6 50 25 8.2 +2.9
PSET Principal Price Setters Index ETF 3.6 29 46 7.0 +1.7
SCID Global X Scientific Beta Europe ETF 3.5 38 37 9.0 +3.7
FUTY Fidelity MSCI Utilities Index ETF 3.5 8 67 6.5 +1.2
LEAD Reality Shares DIVCON Leaders Dividend ETF 3.5 43 32 5.7 +0.4
JKE iShares Morningstar Large-Cap Growth ETF 3.5 25 50 4.7 -0.6
GARD Reality Shares DIVCON Dividend Guard ETF 3.5 129 -54 4.8 -0.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 3.4 24 51 9.3 +4.0
PAVE Global X U.S. Infrastructure Development ETF 3.4 47 28 8.4 +3.1
TPLC Timothy Plan US Large Cap Core ETF 3.4 52 23 7.5 +2.2
RYH Invesco S&P 500 Equal Weight Health Care ETF 3.4 40 35 8.0 +2.7
ECLN First Trust EIP Carbon Impact ETF 3.3 95 -20 4.7 -0.6
SPMO Invesco S&P 500 Momentum ETF 3.3 13 62 5.4 +0.1
JHMI John Hancock Multifactor Industrials ETF 3.2 40 35 8.7 +3.4
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 3.2 49 26 7.7 +2.4
FLLV Franklin Liberty U.S. Low Volatility ETF 3.2 29 46 7.2 +1.9
EWUS iShares MSCI United Kingdom Small Cap ETF 3.2 59 16 11.4 +6.1
VIS Vanguard Industrials Index Fund 3.2 10 65 8.3 +3.0
EXI iShares Global Industrials ETF 3.2 46 29 8.6 +3.3
FIDU Fidelity MSCI Industrials Index ETF 3.1 8 67 8.1 +2.8
DIM WisdomTree International MidCap Dividend Fund 3.1 58 17 10.2 +4.9
NULG Nuveen ESG Large-Cap Growth ETF 3.1 35 40 4.8 -0.5
LGLV SPDR Russell 1000 Low Volatility ETF 3.1 12 63 7.1 +1.8
DINT Davis Select International ETF 3.1 75 0 8.2 +2.9
SMEZ SPDR EURO STOXX Small Cap ETF 3.1 45 30 7.0 +1.7
FEP First Trust Europe AlphaDEX Fund 3.1 80 -5 11.0 +5.7
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 3.0 60 15 9.2 +3.9
XLV Health Care Select Sector SPDR Fund 3.0 13 62 8.2 +2.9
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 3.0 49 26 6.6 +1.3
SPLV Invesco S&P 500 Low Volatility ETF 3.0 25 50 6.8 +1.5
KLCD KFA Large Cap Quality Dividend Index ETF 3.0 41 34 6.8 +1.5
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 2.9 58 17 10.1 +4.8
FLGB Franklin FTSE United Kingdom ETF 2.9 9 66 9.3 +4.0
DDEZ WisdomTree Europe Multifactor Fund 2.9 43 32 8.5 +3.2
XLU Utilities Select Sector SPDR Fund 2.9 13 62 6.6 +1.3
CHIU Global X MSCI China Utilities ETF 2.9 65 10 10.0 +4.7
EMIF iShares Emerging Markets Infrastructure ETF 2.9 75 0 9.8 +4.5
ALFA AlphaClone Alternative Alpha ETF 2.8 65 10 5.7 +0.4
IYH iShares U.S. Healthcare ETF 2.8 43 32 7.2 +1.9
JPEU JPMorgan Diversified Return Europe Equity ETF 2.8 37 38 8.8 +3.5
DWLD Davis Select Worldwide ETF 2.7 64 11 9.3 +4.0
DIET Defiance Next Gen Food & Agriculture ETF 2.7 30 45 5.9 +0.6
SDY SPDR S&P Dividend ETF 2.7 35 40 8.2 +2.9
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 2.7 60 15 6.5 +1.2
MXI iShares Global Materials ETF 2.6 46 29 8.4 +3.1
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 2.6 60 15 13.1 +7.8
KRMA Global X Conscious Companies ETF 2.6 43 32 7.5 +2.2
VHT Vanguard Health Care Index Fund 2.6 10 65 6.6 +1.3
EWU iShares MSCI United Kingdom ETF 2.6 50 25 8.7 +3.4
FHLC Fidelity MSCI Health Care Index ETF 2.5 8 67 6.6 +1.4
RVRS Reverse Cap Weighted U.S. Large Cap ETF 2.5 29 46 10.7 +5.4
JKG iShares Morningstar Mid-Cap ETF 2.5 25 50 8.3 +3.0
QGBR SPDR MSCI UK StrategicFactors ETF 2.5 14 61 9.4 +4.1
IYJ iShares U.S. Industrials ETF 2.5 42 33 8.1 +2.8

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 Global Water ETF
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 15.6 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.73 CATEGORY
AVERAGE
1.49
 
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.