Invesco NASDAQ Internet ETF
ALTAR
Score™		 1.1% info Recommen-
dation		 AVOID
2020E    2021E
P/E
ratio		 103.0x P/Sales
ratio		 4.4x
P/BV
ratio		 8.8x Div.
yield		 0.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco NASDAQ Internet Portfolio seeks investment results that correspond generally to the price and yield of the NASDAQ Internet Index.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jun 12, 2008
Assets (mns) $829
Currency USD
Expense ratio 60 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 89
Wgt avg mkt cap (mns) $383,801
Large cap (>$10bn) 93.4%
Mid cap ($2-10bn) 5.9%
Small cap (<$2bn) 0.7%
Developed mkts 78.8%
Emerging mkts 21.2%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 8.7 %
AMAZON.COM INC 8.2 %
ADOBE SYSTEMS INC 8.0 %
FACEBOOK 7.6 %
ALPHABET INC. CLASS C 6.9 %
SALESFORCE.COM INC 4.7 %
SHOPIFY, INC. CLASS A 3.8 %
NETFLIX INC 3.8 %
BOOKING HOLDINGS INC. 3.4 %
JD.COM INC-ADR 3.2 %
Total 58.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 70.6 %
CHINA 17.5 %
CANADA 4.3 %
ARGENTINA 2.3 %
LUXEMBOURG 2.0 %
SINGAPORE 1.7 %
NETHERLANDS 0.8 %
ISRAEL 0.6 %
IRELAND 0.1 %
INDIA 0.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
51.4% 59.2% 24.5% 22.7% 20.3%

Market Correlations
versus... Beta R-squared
S&P500 1.14 75%
MSCI EAFE 1.13 61%
MSCI Emg. Mkts. 0.86 57%

Technical Indicators
Recent close $197.46
30d moving avg. $202.84
Annualized volatility 23.0%
Short interest (ETF) 0.8%
Short interest (Underlying) 4.8%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 27
Turnover 0.6%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $6,596

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PNQI Expense: 60 bp ALTAR Score™: 1.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PNQI
Ticker Fund
Name		 Overlap1
vs PNQI
(%)		 Expense
ratio
(bp)		 Savings
vs PNQI
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs PNQI
(%)
TTTN UP Fintech China-U.S. Internet Titans ETF 62.0 59 1 4.2 +3.2
FDN First Trust Dow Jones Internet Index Fund 42.7 52 8 2.2 +1.1
OGIG O'Shares Global Internet Giants ETF 38.8 48 12 0.8 -0.2
BUYZ Franklin Disruptive Commerce ETF 33.7 50 10 -0.1 -1.2
PLAT WisdomTree Modern Tech Platforms Fund 32.5 20 40 1.9 +0.8
GBUY Goldman Sachs Motif New Age Consumer ETF 31.9 50 10 1.8 +0.8
ENTR Entrepreneur 30 Fund 31.4 49 11 1.4 +0.4
GIGE SoFi Gig Economy ETF 30.5 59 1 -0.7 -1.7
IGM iShares Expanded Tech Sector ETF 29.7 46 14 5.4 +4.3
EBIZ Global X E-Commerce ETF 29.7 50 10 2.8 +1.7
AIQ Global X Future Analytics Tech ETF 29.5 68 -8 4.2 +3.1
XNTK SPDR NYSE Technology ETF 28.1 35 25 4.1 +3.0
GBGR Global Beta Momentum-Growth ETF 28.1 29 31 4.4 +3.3
TMFC Motley Fool 100 Index ETF 27.1 50 10 5.2 +4.2
FDG American Century Focused Dynamic Growth ETF 26.9 45 15 1.7 +0.6
MMLG First Trust Multi-Manager Large Growth ETF 26.2 85 -25 2.6 +1.5
IETC iShares Evolved U.S. Technology ETF 26.0 18 42 6.0 +4.9
TECB iShares US Tech Breakthrough Multisector ETF 25.5 40 20 4.8 +3.7
FDNI First Trust Dow Jones International Internet ETF 25.4 65 -5 2.2 +1.2
MILN Global X Millennials Thematic ETF 24.9 50 10 2.9 +1.8
DWLD Davis Select Worldwide ETF 24.5 63 -3 6.6 +5.6
QQQ Invesco QQQ Trust 23.9 20 40 5.8 +4.8
QYLD Global X NASDAQ 100 Covered Call ETF 23.9 60 0 5.4 +4.4
NUSI Nationwide Risk-Managed Income ETF 23.7 68 -8 5.4 +4.3
IBUY Amplify Online Retail ETF 23.7 65 -5 -1.2 -2.3
ARKW ARK Web x.0 ETF 23.4 76 -16 -0.9 -2.0
LRGE ClearBridge Large Cap Growth ESG ETF 23.4 59 1 4.5 +3.4
DUSA Davis Select U.S. Equity ETF 23.2 63 -3 6.0 +4.9
JKE iShares Morningstar Large-Cap Growth ETF 22.6 25 35 2.8 +1.8
MGK Vanguard Mega Cap Growth ETF 22.5 7 53 6.1 +5.1
FCOM Fidelity MSCI Telecommunication Services Index ETF 22.3 8 52 5.0 +3.9
VOX Vanguard Telecommunication Services Index Fund 22.2 10 50 4.8 +3.8
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 22.1 21 39 3.6 +2.5
SKYY First Trust Cloud Computing ETF 22.0 60 0 2.3 +1.2
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 21.8 86 -26 2.3 +1.2
SYG SPDR MFS Systematic Growth Equity ETF 21.7 60 0 5.5 +4.4
IWY iShares Russell Top 200 Growth ETF 21.6 20 40 6.1 +5.1
GVIP Goldman Sachs Hedge Industry VIP ETF 21.6 45 15 4.0 +2.9
CLOU Global X Cloud Computing ETF 21.6 68 -8 0.7 -0.4
XITK SPDR FactSet Innovative Technology ETF 21.4 45 15 0.5 -0.6
JOYY Infusive Compounding Global Equities ETF 21.3 50 10 6.1 +5.0
IWF iShares Russell 1000 Growth ETF 20.9 19 41 5.6 +4.5
XWEB SPDR S&P Internet ETF 20.8 35 25 -0.2 -1.2
VONG Vanguard Russell 1000 Growth Index Fund 20.3 8 52 5.7 +4.7
SFYF SoFi 50 ETF 20.3 29 31 2.7 +1.6
WUGI Esoterica NextG Economy ETF 20.2 75 -15 1.6 +0.5
HIPR Direxion High Growth ETF 20.1 40 20 6.9 +5.8
VUG Vanguard Growth Index Fund 20.1 4 56 5.6 +4.5
IGV iShares Expanded Tech-Software ETF 19.9 46 14 2.5 +1.5
XLC The Communication Services Select Sector SPDR Fund 19.7 13 47 5.7 +4.6
XLG Invesco S&P 500 Top 50 ETF 19.5 20 40 5.9 +4.8
VOOG Vanguard S&P 500 Growth ETF 19.3 10 50 5.8 +4.7
THNQ ROBO Global Artificial Intelligence ETF 19.2 68 -8 1.6 +0.5
JHCS John Hancock Multifactor Media & Communications ETF 19.2 40 20 5.3 +4.3
IXP iShares Global Comm Services ETF 19.1 46 14 5.7 +4.7
SCHG Schwab U.S. Large-Cap Growth ETF 19.1 4 56 5.5 +4.5
CACG ClearBridge All Cap Growth ETF 19.0 54 6 4.6 +3.5
SPYG SPDR Portfolio S&P 500 Growth ETF 18.7 4 56 5.9 +4.8
IVW iShares S&P 500 Growth ETF 18.7 18 42 5.7 +4.7
ALFA AlphaClone Alternative Alpha ETF 18.6 65 -5 -0.2 -1.3
ARKF ARK Fintech Innovation ETF 18.6 75 -15 0.7 -0.3
GENY Principal Millennials Index ETF 18.1 45 15 4.2 +3.1
IUSG iShares Core S&P US Growth ETF 17.8 4 56 5.8 +4.7
IYW iShares U.S. Technology ETF 17.6 43 17 7.3 +6.2
KWEB KraneShares CSI China Internet ETF 17.5 76 -16 2.0 +0.9
PGJ Invesco Golden Dragon China ETF 17.5 70 -10 3.3 +2.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 17.4 32 28 6.0 +5.0
SOCL Global X Social Media ETF 17.1 65 -5 1.9 +0.8
IYC iShares U.S. Consumer Services ETF 16.9 43 17 3.9 +2.8
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 16.8 18 42 5.4 +4.4
MTUM iShares Edge MSCI USA Momentum Factor ETF 16.7 15 45 5.1 +4.1
OEF iShares S&P 100 ETF 16.6 20 40 5.8 +4.7
LCG Sterling Capital Focus Equity ETF 16.3 59 1 2.5 +1.5
XOUT GraniteShares XOUT U.S. Large Cap ETF 16.2 60 0 5.4 +4.3
JHMC John Hancock Multifactor Consumer Discretionary ETF 16.2 40 20 4.2 +3.1
GDAT Goldman Sachs Motif Data-Driven World Etf 16.2 50 10 5.3 +4.2
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 16.1 75 -15 4.2 +3.1
ACSI American Customer Satisfaction Core Alpha ETF 15.9 66 -6 5.9 +4.8
FNI First Trust Chindia ETF 15.9 60 0 2.6 +1.5
CHIL Global X MSCI China Large-Cap 50 ETF 15.9 29 31 7.9 +6.8
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 15.7 59 1 4.3 +3.2
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 15.7 35 25 4.5 +3.5
ESG FlexShares STOXX US ESG Impact Index Fund 15.6 32 28 5.6 +4.5
CCON Direxion Connected Consumer ETF 15.6 45 15 1.4 +0.4
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 15.5 12 48 5.0 +4.0
MCHI iShares MSCI China ETF 15.4 59 1 7.9 +6.9
FLCH Franklin FTSE China ETF 15.4 19 41 8.4 +7.4
WFH Direxion Work From Home ETF 15.2 45 15 5.7 +4.6
KALL KraneShares FTSE Emerging Markets Plus ETF 15.2 49 11 8.2 +7.1
GXC SPDR S&P China ETF 15.0 59 1 8.2 +7.1
VCR Vanguard Consumer Discretionary Index Fund 15.0 10 50 3.8 +2.8
MMTM SPDR S&P 1500 Momentum Tilt ETF 15.0 12 48 6.2 +5.2
FDMO Fidelity Momentum Factor ETF 14.9 29 31 4.2 +3.1
FPX First Trust US IPO Index Fund 14.6 58 2 2.3 +1.2
GURU Global X Guru Index ETF 14.5 75 -15 3.9 +2.8
ONLN ProShares Online Retail ETF 14.5 58 2 0.9 -0.2
VIRS Pacer BioThreat Strategy ETF 14.5 70 -10 4.6 +3.5
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 14.4 60 0 3.6 +2.6
ESGV Vanguard ESG U.S. Stock ETF 14.2 12 48 5.8 +4.7
FMK First Trust Mega Cap AlphaDEX Fund 14.0 70 -10 4.9 +3.9

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%.

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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 NASDAQ Internet 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 13.1 %
Divided by: Fwd. P/BV 7.9 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 1.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.36 CATEGORY
AVERAGE		 1.52
 
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.