Invesco Nasdaq Internet
ALTAR
Score™
2.8% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
37.4x P/Sales
ratio
3.4x
P/BV
ratio
5.6x Div.
yield
0.2%


  • 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) $533
Currency USD
Expense ratio 62 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 84
Wgt avg mkt cap (mns) $271,713
Large cap (>$10bn) 84.9%
Mid cap ($2-10bn) 12.2%
Small cap (<$2bn) 2.9%
Developed mkts 73.3%
Emerging mkts 26.7%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 9.1 %
ALPHABET INC. CLASS C 8.9 %
FACEBOOK 8.5 %
NETFLIX INC 8.2 %
AMAZON.COM INC 7.8 %
BOOKING HOLDINGS INC. 3.9 %
BAIDU INC - SPON ADR 3.5 %
JD.COM INC-ADR 3.3 %
EBAY INC 3.2 %
MERCADOLIBRE INC 3.1 %
Total 59.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 69.9 %
CHINA 23.2 %
ARGENTINA 3.2 %
NETHERLANDS 1.3 %
SINGAPORE 1.0 %
ISRAEL 0.7 %
IRELAND 0.4 %
INDIA 0.2 %
FRANCE 0.1 %


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.
25.4% 15.4% 14.9% 18.7% 17.1%

Market Correlations
versus... Beta R-squared
S&P500 1.22 62%
MSCI EAFE 1.23 52%
MSCI Emg. Mkts. 0.99 55%

Technical Indicators
Recent close $136.76
30d moving avg. $133.63
Annualized volatility 18.7%
Short interest (ETF) 0.3%
Short interest (Underlying) 4.8%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 17
Turnover 0.4%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $22,993

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco Nasdaq Internet 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: 62 bp ALTAR Score™: 2.8%


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 TigerShares China-U.S. Internet Titans 66.8 59 3 3.9 +1.1
FDN First Trust DJ Internet 45.8 52 10 3.3 +0.5
PLAT WisdomTree Modern Tech Platforms 36.9 45 17 2.8 -0.0
OGIG O'Shares Global Internet Giants 35.4 48 14 1.5 -1.3
EBIZ Global X E-commerce 34.9 68 -6 2.8 0.0
XWEB SPDR S&P Internet 31.0 35 27 1.5 -1.3
GBUY Goldman Sachs Motif New Age Consumer 29.3 50 12 3.0 +0.2
EMQQ Emerging Markets Internet & E-Commerce 28.5 86 -24 3.8 +1.0
ONLN ProShares Online Retail 27.8 58 4 2.2 -0.6
GIGE SoFi Gig Economy 27.6 59 3 0.4 -2.4
ENTR ERShares Entrepreneur 30 26.4 49 13 3.9 +1.1
DWLD Davis Select Worldwide 26.4 64 -2 6.0 +3.2
FCOM Fidelity MSCI Communication Services 25.8 8 54 5.3 +2.5
VOX Vanguard Communication Services 25.5 10 52 4.9 +2.1
XLC Communication Services Select Sector SPDR 24.9 13 49 6.3 +3.5
FDNI First Trust Dow Jones International Internet 24.8 65 -3 4.5 +1.7
SOCL Global X Social Media 24.3 65 -3 4.3 +1.5
TMFC Motley Fool 100 Index 23.7 50 12 4.3 +1.5
IBUY Amplify Online Retail 23.2 65 -3 -0.6 -3.4
IGM iShares S&P N. American Technology 23.2 46 16 4.6 +1.8

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

  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

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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 Nasdaq Internet
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 16.5 %
Divided by: Fwd. P/BV 4.8 x
Less: Expense ratio 62 bp
Equals: ALTAR Score 2.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.36 CATEGORY
AVERAGE
1.56
 
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.