Invesco Dynamic Pharmaceuticals ETF
ALTAR
Score™
13.0% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
11.6x P/Sales
ratio
2.4x
P/BV
ratio
2.7x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco Dynamic Pharmaceuticals Portfolio ETF tracks an index of US pharmaceutical companies selected and weighted based on various fundamental and risk factors.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jun 23, 2005
Assets (mns) $329
Currency USD
Expense ratio 56 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian BNY Mellon
Weighting Tiered
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 29
Wgt avg mkt cap (mns) $73,184
Large cap (>$10bn) 49.8%
Mid cap ($2-10bn) 26.7%
Small cap (<$2bn) 23.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ABBVIE INC 5.5 %
ENDO INTERNATIONAL PLC 5.2 %
PFIZER INC 5.1 %
CORCEPT THERAPEUTICS INC 5.0 %
ELI LILLY & CO 4.9 %
ABBOTT LABORATORIES 4.7 %
JOHNSON & JOHNSON 4.6 %
MERCK & CO. INC. 4.6 %
GILEAD SCIENCES INC 4.5 %
AMGEN INC 4.4 %
Total 48.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 77.5 %
IRELAND 13.3 %
ISRAEL 3.2 %
CANADA 3.1 %
BRITAIN 2.9 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
4.0% 5.8% -0.0% 13.3% 11.6%

Market Correlations
versus... Beta R-squared
S&P500 0.85 69%
MSCI EAFE 0.75 52%
MSCI Emg. Mkts. 0.61 43%

Technical Indicators
Recent close $66.85
30d moving avg. $65.57
Annualized volatility 19.2%
Short interest (ETF) 0.6%
Short interest (Underlying) 6.7%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 18
Turnover 0.4%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $7,091

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco Dynamic Pharmaceuticals ETF ETF based on the alternatives' overlap in portfolio holdings with PJP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PJP Expense: 56 bp ALTAR Score™: 13.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PJP
Ticker Fund
Name
Overlap1
vs PJP
(%)
Expense
ratio
(bp)
Savings
vs PJP
(bp)
ALTAR
Score™
(%)
ALTAR
vs PJP
(%)
FTXH First Trust Nasdaq Pharmaceuticals ETF 44.4 60 -4 6.9 -6.1
IEIH iShares Evolved U.S. Innovative Healthcare ETF 42.2 18 38 3.4 -9.7
XPH SPDR S&P Pharmaceuticals ETF 40.2 35 21 3.8 -9.2
PPH VanEck Vectors Pharmaceutical ETF 35.2 36 20 11.0 -2.0
XLV Health Care Select Sector SPDR Fund 34.8 13 43 7.3 -5.7
IYH iShares U.S. Healthcare ETF 33.0 43 13 6.3 -6.7
IHE iShares U.S. Pharmaceuticals ETF 32.4 42 14 5.2 -7.8
FHLC Fidelity MSCI Health Care Index ETF 30.8 8 48 5.6 -7.5
VHT Vanguard Health Care Index Fund 29.5 10 46 5.4 -7.6
JHMH John Hancock Multifactor Healthcare ETF 27.3 40 16 6.1 -6.9
IXJ iShares Global Healthcare ETF 25.3 46 10 6.4 -6.6
DURA VanEck Vectors Morningstar Durable Dividend ETF 22.1 29 27 8.2 -4.8
IBB iShares NASDAQ Biotechnology ETF 20.5 46 10 0.6 -12.4
RYH Invesco S&P 500 Equal Weight Health Care ETF 19.5 40 16 6.8 -6.2
PBE Invesco Dynamic Biotechnology & Genome ETF 17.8 58 -2 -2.4 -15.4
FBT First Trust NYSE Arca Biotechnology Index Fund 17.7 55 1 -1.5 -14.6
HDV iShares Core High Dividend ETF 17.1 8 48 6.8 -6.3
VIRS Pacer BioThreat Strategy ETF 16.9 70 -14 4.6 -8.4
BBH VanEck Vectors Biotech ETF 16.7 35 21 4.3 -8.7
FXH First Trust Health Care AlphaDEX Fund 15.3 62 -6 5.0 -8.0
OUSA O'Shares FTSE US Quality Dividend ETF 14.6 48 8 5.6 -7.4
MGV Vanguard Mega Cap Value ETF 13.9 7 49 6.8 -6.2
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 13.7 35 21 6.8 -6.2
GBLO Global Beta Low Beta ETF 13.5 29 27 7.2 -5.8
SPHQ Invesco S&P 500 Quality ETF 13.2 15 41 4.4 -8.6
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 13.1 12 44 4.6 -8.5
DHS WisdomTree U.S. High Dividend Fund 12.6 38 18 8.2 -4.9
LVHD Legg Mason Low Volatility High Dividend ETF 12.4 27 29 7.8 -5.2
IEHS iShares Evolved U.S. Healthcare Staples ETF 12.2 18 38 5.4 -7.6
VYM Vanguard High Dividend Yield Index ETF 12.0 6 50 7.0 -6.0
HLAL Wahed FTSE USA Shariah ETF 11.6 50 6 4.1 -8.9
VTV Vanguard Value Index Fund 11.2 4 52 6.8 -6.2
FCPI Fidelity Stocks for Inflation ETF 11.0 29 27 6.1 -6.9
RAFE PIMCO RAFI ESG U.S. ETF 11.0 29 27 7.1 -5.9
QLV FlexShares US Quality Low Volatility Index Fund 10.8 22 34 4.7 -8.3
PWV Invesco Dynamic Large Cap Value ETF 10.8 56 0 7.7 -5.3
FDL First Trust Morningstar Dividend Leaders Index Fund 10.5 45 11 9.6 -3.4
MTUM iShares MSCI USA Momentum Factor ETF 10.5 15 41 4.0 -9.0
CCOR Core Alternative ETF 10.5 109 -53 4.5 -8.5
QDEF FlexShares Quality Dividend Defensive Index Fund 10.4 37 19 5.8 -7.2
PSCH Invesco S&P SmallCap Health Care ETF 10.0 29 27 3.1 -9.9
DGRO iShares Core Dividend Growth ETF 9.8 8 48 6.3 -6.7
FTCS First Trust Capital Strength ETF 9.8 58 -2 5.1 -7.9
FDRR Fidelity Dividend ETF for Rising Rates 9.7 29 27 6.3 -6.7
LNGR Global X Longevity Thematic ETF 9.7 50 6 3.2 -9.8
NACP Impact Shares NAACP Minority Empowerment ETF 9.7 75 -19 4.6 -8.5
DLN WisdomTree U.S. LargeCap Dividend Fund 9.6 28 28 6.1 -7.0
QVAL Alpha Architect U.S. Quantitative Value ETF 9.5 49 7 10.1 -2.9
SDGA Impact Shares Sustainable Development Goals Global ETF 9.4 75 -19 5.0 -8.0
DIA SPDR Dow Jones Industrial Average ETF Trust 9.3 16 40 5.2 -7.8
JKF iShares Morningstar Large Cap Value ETF 9.2 25 31 7.1 -5.9
DJD Invesco Dow Jones Industrial Average Dividend ETF 9.2 7 49 6.7 -6.3
QDF FlexShares Quality Dividend Index Fund 9.1 37 19 5.7 -7.3
JKD iShares Morningstar Large-Cap ETF 8.8 20 36 5.4 -7.6
EDOW First Trust Dow 30 Equal Weight ETF 8.7 50 6 5.3 -7.7
REVS Columbia Research Enhanced Value ETF 8.7 19 37 7.2 -5.8
XLG Invesco S&P 500 Top 50 ETF 8.7 20 36 4.3 -8.7
SCHV Schwab U.S. Large-Cap Value ETF 8.6 4 52 6.3 -6.7
RECS Columbia Research Enhanced Core ETF 8.5 15 41 5.3 -7.7
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 8.5 75 -19 5.6 -7.5
ROUS Hartford Multifactor US Equity ETF 8.5 19 37 6.2 -6.9
SYV SPDR MFS Systematic Value Equity ETF 8.4 60 -4 6.8 -6.2
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 8.4 25 31 5.7 -7.3
QDYN FlexShares Quality Dividend Dynamic Index Fund 8.4 37 19 5.7 -7.3
VOOV Vanguard S&P 500 Value ETF 8.4 10 46 6.8 -6.2
MOAT VanEck Vectors Morningstar Wide Moat ETF 8.4 49 7 6.3 -6.7
FLRG Fidelity U.S. Multifactor ETF 8.4 29 27 6.2 -6.8
JQUA JPMorgan U.S. Quality Factor ETF 8.4 12 44 5.2 -7.9
DTD WisdomTree U.S.Total Dividend Fund 8.4 28 28 6.3 -6.8
RNDV US Equity Dividend Select ETF 8.3 50 6 7.9 -5.2
QUAL iShares MSCI Usa Quality Factor ETF 8.3 15 41 5.1 -7.9
VALQ American Century STOXX U.S. Quality Value ETF 8.3 29 27 7.9 -5.1
SPLV Invesco S&P 500 Low Volatility ETF 8.1 25 31 5.5 -7.5
USDY Pacific Global US Equity Income ETF 8.1 29 27 7.7 -5.3
PKW Invesco Buyback Achievers ETF 8.0 62 -6 6.1 -6.9
XBI SPDR S&P BIOTECH ETF 8.0 35 21 -2.0 -15.0
DTN WisdomTree U.S. Dividend ex-Financials Fund 8.0 38 18 7.5 -5.6
EQWL Invesco Russell Top 200 Equal Weight ETF 8.0 25 31 5.8 -7.2
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 8.0 49 7 4.3 -8.7
IVE iShares S&P 500 Value ETF 7.9 18 38 6.7 -6.3
GERM ETFMG Treatments Testing and Advancements ETF 7.9 68 -12 -2.8 -15.8
SPYV SPDR Portfolio S&P 500 Value ETF 7.9 4 52 6.9 -6.2
FLV American Century Focused Large Cap Value ETF 7.9 42 14 5.9 -7.1
STLC iShares Factors US Blend Style ETF 7.9 25 31 5.0 -8.0
STLV iShares Factors US Value Style ETF 7.9 25 31 6.9 -6.1
JSML Janus Henderson Small Cap Growth Alpha ETF 7.8 30 26 7.0 -6.0
GOAT VanEck Vectors Morningstar Global Wide Moat ETF 7.7 56 0 6.2 -6.8
WOMN Impact Shares YWCA Women's Empowerment ETF 7.7 75 -19 3.9 -9.2
FQAL Fidelity Quality Factor ETF 7.7 29 27 5.2 -7.9
OEF iShares S&P 100 ETF 7.7 20 36 4.5 -8.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 7.6 19 37 5.6 -7.4
QLC FlexShares US Quality Large Cap Index Fund 7.6 32 24 4.9 -8.1
PWB Invesco Dynamic Large Cap Growth ETF 7.5 56 0 3.3 -9.8
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 7.5 49 7 3.9 -9.1
DGRW WisdomTree U.S. Quality Dividend Growth Fund 7.5 28 28 6.2 -6.8
IUSV iShares Core S&P U.S. Value ETF 7.5 4 52 6.9 -6.1
SPXT ProShares S&P 500 Ex-Technology ETF 7.4 27 29 5.2 -7.8
STLG iShares Factors US Growth Style ETF 7.4 25 31 4.2 -8.8
SYE SPDR MFS Systematic Core Equity ETF 7.3 60 -4 5.4 -7.6

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 Dynamic Pharmaceuticals ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 29.9 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 56 bp
Equals: ALTAR Score 13.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 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.