Invesco Dynamic Building & Construction
ALTAR
Score™
6.5% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.4x P/Sales
ratio
1.0x
P/BV
ratio
2.4x Div.
yield
0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco Dynamic Building & Construction Sector Portfolio ETF tracks a quantitative index that selects building and construction companies most likely to outperform based on growth and value metrics.

FUND BASICS
Category Global Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Oct 26, 2005
Assets (mns) $116
Currency USD
Expense ratio 60 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 31
Wgt avg mkt cap (mns) $9,628
Large cap (>$10bn) 39.1%
Mid cap ($2-10bn) 38.7%
Small cap (<$2bn) 22.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PULTE HOMES INC 5.3 %
DR HORTON INC 5.0 %
JACOBS ENGINEERING GROUP INC 5.0 %
INGERSOLL-RAND PLC 4.9 %
MARTIN MARIETTA MATERIALS 4.7 %
LENNOX INTERNATIONAL INC 4.7 %
JOHNSON CONTROLS INTERNATIONAL PLC 4.6 %
NVR INC 4.6 %
OSHKOSH CORP 3.3 %
UNIVERSAL FOREST PRODUCTS 3.2 %
Total 45.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 90.5 %
IRELAND 9.5 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
41.2% 29.6% 9.5% 12.5% 6.3%

Market Correlations
versus... Beta R-squared
S&P500 1.23 61%
MSCI EAFE 1.01 35%
MSCI Emg. Mkts. 0.61 21%

Technical Indicators
Recent close $34.06
30d moving avg. $33.47
Annualized volatility 19.0%
Short interest (ETF) 0.8%
Short interest (Underlying) 3.7%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 18
Turnover 0.5%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $1,484

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco Dynamic Building & Construction ETF based on the alternatives' overlap in portfolio holdings with PKB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PKB Expense: 60 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PKB
Ticker Fund
Name
Overlap1
vs PKB
(%)
Expense
ratio
(bp)
Savings
vs PKB
(bp)
ALTAR
Score™
(%)
ALTAR
vs PKB
(%)
XHB SPDR S&P Homebuilders 33.9 35 25 7.7 +1.2
ITB iShares US Home Construction 33.9 42 18 8.3 +1.8
AIRR First Trust RBA American Industrial Renaissance 15.1 70 -10 5.4 -1.1
HOMZ Hoya Capital Housing 14.1 45 15 6.4 -0.2
PSCD Invesco S&P Small Cap Consumer Discretionary 12.5 29 31 8.3 +1.8
DVLU First Trust Dorsey Wright Momentum & Value 11.0 60 0 8.4 +1.9
PAVE Global X U.S. Infrastructure Development 10.6 47 13 5.8 -0.7
VAMO Cambria Value & Momentum 10.5 64 -4 6.3 -0.2
FLM First Trust ISE Global Engineering & Construction 9.0 70 -10 7.7 +1.2
PRN Invesco DWA Industrials Momentum 8.2 60 0 4.1 -2.4
JHMI John Hancock Multifactor Industrials 8.1 40 20 6.6 +0.1
KNOW Direxion All-Cap Insider Sentiment 7.0 59 1 10.2 +3.7
RZV Invesco S&P Smallcap 600 Pure Value 6.9 35 25 8.7 +2.2
IFRA iShares U.S. Infrastructure 6.5 40 20 5.9 -0.6
XKII SPDR Kensho Intelligent Structures 6.1 45 15 6.6 +0.1
PVAL Principal Contrarian Value Index 5.9 29 31 7.2 +0.6
FXZ First Trust Materials Alphadex 5.9 64 -4 8.1 +1.6
SDVY First Trust SMID Cap Rising Dividend Achievers 5.9 60 0 7.6 +1.1
LSAF LeaderShares AlphaFactor US Core Equity 5.9 75 -15 6.5 +0.0
PWC Invesco Dynamic Market 5.8 59 1 7.4 +0.9

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 Building & Construction
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.2 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.54
 
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.