Invesco Dynamic Pharmaceuticals ETF
ALTAR
Score™
11.1% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
11.8x P/Sales
ratio
2.8x
P/BV
ratio
2.7x Div.
yield
1.9%


  • 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) $360
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 30
Wgt avg mkt cap (mns) $88,398
Large cap (>$10bn) 54.3%
Mid cap ($2-10bn) 25.2%
Small cap (<$2bn) 20.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ABBVIE INC 6.1 %
ABBOTT LABORATORIES 5.6 %
ELI LILLY & CO 5.5 %
AMGEN INC 5.3 %
PFIZER INC 5.2 %
JOHNSON & JOHNSON 5.0 %
MERCK & CO. INC. 4.8 %
BRISTOL-MYERS SQUIBB CO 4.7 %
EMERGENT BIOSOLUTIONS INC 3.8 %
HORIZON PHARMA PLC 3.8 %
Total 49.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 82.3 %
IRELAND 10.9 %
ISRAEL 2.5 %
BRITAIN 2.3 %
CANADA 2.1 %






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.
0.3% 14.5% -1.9% 15.0% 11.8%

Market Correlations
versus... Beta R-squared
S&P500 0.90 64%
MSCI EAFE 0.84 47%
MSCI Emg. Mkts. 0.63 40%

Technical Indicators
Recent close $64.32
30d moving avg. $63.23
Annualized volatility 19.2%
Short interest (ETF) 1.1%
Short interest (Underlying) 6.7%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 34
Turnover 0.6%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $13,321

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™: 11.1%


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 51.8 60 -4 7.2 -3.9
IEIH iShares Evolved U.S. Innovative Healthcare ETF 49.2 18 38 4.0 -7.1
XPH SPDR S&P Pharmaceuticals ETF 46.3 35 21 4.8 -6.3
XLV Health Care Select Sector SPDR Fund 40.6 13 43 7.0 -4.1
PPH VanEck Vectors Pharmaceutical ETF 39.8 36 20 10.1 -1.1
IYH iShares U.S. Healthcare ETF 38.8 43 13 6.1 -5.0
IHE iShares U.S. Pharmaceuticals ETF 37.9 42 14 5.3 -5.8
FHLC Fidelity MSCI Health Care Index ETF 36.7 8 48 5.6 -5.5
VHT Vanguard Health Care Index Fund 35.8 10 46 5.5 -5.7
JHMH John Hancock Multifactor Healthcare ETF 31.6 40 16 6.0 -5.1
IXJ iShares Global Healthcare ETF 29.7 46 10 6.2 -4.9
RYH Invesco S&P 500 Equal Weight Health Care ETF 22.0 40 16 6.3 -4.8
SPHQ Invesco S&P 500 Quality ETF 21.1 15 41 5.1 -6.0
IBB iShares NASDAQ Biotechnology ETF 20.7 47 9 0.4 -10.7
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 20.6 75 -19 6.0 -5.1
FXH First Trust Health Care AlphaDEX Fund 20.6 62 -6 4.4 -6.7
OUSA O'Shares FTSE US Quality Dividend ETF 17.9 48 8 5.7 -5.4
BBH VanEck Vectors Biotech ETF 17.4 35 21 3.7 -7.4
PWV Invesco Dynamic Large Cap Value ETF 17.2 55 1 8.0 -3.1
PBE Invesco Dynamic Biotechnology & Genome ETF 17.0 57 -1 -1.0 -12.1
HDV iShares Core High Dividend ETF 16.9 8 48 6.4 -4.7
DURA VanEck Vectors Morningstar Durable Dividend ETF 16.9 29 27 6.8 -4.3
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 16.8 12 44 4.9 -6.3
DHS WisdomTree U.S. High Dividend Fund 16.5 38 18 8.2 -2.9
MGV Vanguard Mega Cap Value ETF 16.1 7 49 7.0 -4.1
MTUM iShares Edge MSCI USA Momentum Factor ETF 16.0 15 41 4.8 -6.3
VYM Vanguard High Dividend Yield Index ETF 15.8 6 50 7.1 -4.1
JKF iShares Morningstar Large Cap Value ETF 15.8 25 31 7.5 -3.7
FTCS First Trust Capital Strength ETF 15.3 60 -4 4.9 -6.3
FBT First Trust NYSE Arca Biotechnology Index Fund 14.8 57 -1 -1.0 -12.1
XBI SPDR S&P BIOTECH ETF 14.5 35 21 -3.9 -15.0
LNGR Global X Longevity Thematic ETF 14.2 50 6 3.0 -8.1
VTV Vanguard Value Index Fund 14.0 4 52 7.1 -4.0
SCHV Schwab U.S. Large-Cap Value ETF 13.9 4 52 6.9 -4.2
IEHS iShares Evolved U.S. Healthcare Staples ETF 13.7 18 38 5.6 -5.6
PSCH Invesco S&P SmallCap Health Care ETF 13.6 29 27 3.0 -8.1
QDF FlexShares Quality Dividend Index Fund 13.3 37 19 6.8 -4.4
RAFE PIMCO RAFI ESG U.S. ETF 13.1 29 27 7.5 -3.6
HLAL Wahed FTSE USA Shariah ETF 13.1 50 6 4.6 -6.5
DJD Invesco Dow Jones Industrial Average Dividend ETF 13.0 7 49 6.5 -4.6
CNCR Loncar Cancer Immunotherapy ETF 12.7 79 -23 -3.4 -14.5
FTHI First Trust High Income ETF 12.3 85 -29 5.4 -5.7
QDYN FlexShares Quality Dividend Dynamic Index Fund 12.2 37 19 6.7 -4.4
QUAL iShares MSCI Usa Quality Factor ETF 12.2 15 41 5.4 -5.7
DGRO iShares Core Dividend Growth ETF 12.1 8 48 6.4 -4.7
SDG iShares Sustainable MSCI Global Impact ETF 12.0 49 7 6.1 -5.0
DLN WisdomTree U.S. LargeCap Dividend Fund 11.9 28 28 6.3 -4.9
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 11.9 60 -4 6.2 -5.0
DGRW WisdomTree U.S. Quality Dividend Growth Fund 11.7 28 28 6.5 -4.6
STLV iShares Factors US Value Style ETF 11.7 25 31 7.7 -3.4
ACT AdvisorShares Vice ETF 11.7 99 -43 5.2 -5.9
COWZ Pacer US Cash Cows 100 ETF 11.4 49 7 9.4 -1.8
MOAT VanEck Vectors Morningstar Wide Moat ETF 11.4 49 7 5.9 -5.2
FDRR Fidelity Dividend ETF for Rising Rates 11.3 29 27 6.9 -4.2
FTLB First Trust Hedged BuyWrite Income ETF 11.3 85 -29 5.5 -5.6
IWX iShares Russell Top 200 Value ETF 11.2 20 36 6.9 -4.3
CCOR Core Alternative ETF 11.2 123 -67 4.2 -6.9
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 11.2 49 7 4.2 -7.0
SDGA Impact Shares Sustainable Development Goals Global ETF 11.1 75 -19 5.4 -5.7
QDEF FlexShares Quality Dividend Defensive Index Fund 11.0 37 19 6.2 -4.9
QDIV Global X S&P 500 Quality Dividend ETF 10.9 20 36 8.1 -3.1
VFMV Vanguard U.S. Minimum Volatility ETF 10.9 13 43 3.8 -7.4
NACP Impact Shares NAACP Minority Empowerment ETF 10.9 75 -19 4.5 -6.6
WOMN Impact Shares YWCA Women's Empowerment ETF 10.7 75 -19 4.5 -6.6
FVAL Fidelity Value Factor ETF 10.6 29 27 8.0 -3.2
PKW Invesco Buyback Achievers ETF 10.6 62 -6 6.6 -4.5
SHE SPDR SSGA Gender Diversity Index ETF 10.5 20 36 5.4 -5.7
DTD WisdomTree U.S.Total Dividend Fund 10.4 28 28 6.5 -4.6
RFDA RiverFront Dynamic US Dividend Advantage ETF 10.4 52 4 5.9 -5.2
SYE SPDR MFS Systematic Core Equity ETF 10.4 60 -4 5.9 -5.2
XLG Invesco S&P 500 Top 50 ETF 10.4 20 36 4.7 -6.4
RECS Columbia Research Enhanced Core ETF 10.3 15 41 5.6 -5.5
SYV SPDR MFS Systematic Value Equity ETF 10.2 60 -4 7.1 -4.0
XOUT GraniteShares XOUT U.S. Large Cap ETF 10.2 60 -4 4.6 -6.6
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 10.2 35 21 6.6 -4.5
OEF iShares S&P 100 ETF 10.1 20 36 4.9 -6.2
GDNA Goldman Sachs Motif Human Evolution ETF 10.0 50 6 0.3 -10.8
DTN WisdomTree U.S. Dividend ex-Financials Fund 10.0 38 18 7.7 -3.4
NULV Nuveen ESG Large-Cap Value ETF 10.0 35 21 7.3 -3.8
JQUA JPMorgan U.S. Quality Factor ETF 10.0 12 44 5.2 -5.9
RNDV US Equity Dividend Select ETF 10.0 50 6 7.4 -3.7
SPYV SPDR Portfolio S&P 500 Value ETF 9.9 4 52 7.2 -4.0
IVE iShares S&P 500 Value ETF 9.9 18 38 7.0 -4.1
VOOV Vanguard S&P 500 Value ETF 9.7 15 41 7.1 -4.1
QLV FlexShares US Quality Low Volatility Index Fund 9.7 22 34 5.1 -6.0
SPXT ProShares S&P 500 Ex-Technology ETF 9.6 27 29 5.6 -5.5
ECOZ TrueMark ESG Active Opportunities ETF 9.6 58 -2 4.5 -6.7
LVHD Legg Mason Low Volatility High Dividend ETF 9.6 27 29 8.4 -2.7
DIVB iShares U.S. Dividend & Buyback ETF 9.5 25 31 6.3 -4.8
EDOW First Trust Dow 30 Equal Weight ETF 9.5 50 6 5.7 -5.4
EQWL Invesco Russell Top 200 Equal Weight ETF 9.3 25 31 5.9 -5.2
IUSV iShares Core S&P U.S. Value ETF 9.3 4 52 7.2 -3.9
FLQL Franklin LibertyQ U.S. Equity ETF 9.1 15 41 6.2 -4.9
FQAL Fidelity Quality Factor ETF 9.1 29 27 5.4 -5.7
SUSL iShares ESG MSCI USA Leaders ETF 9.0 10 46 5.4 -5.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 9.0 10 46 5.4 -5.7
QUS SPDR MSCI USA StrategicFactors ETF 8.9 15 41 5.8 -5.3
AIEQ AI Powered Equity ETF 8.9 87 -31 3.4 -7.8
GBDV Global Beta Smart Income ETF 8.9 29 27 11.4 +0.3

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 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 29.1 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 56 bp
Equals: ALTAR Score 11.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 CATEGORY
AVERAGE
1.53
 
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.