Invesco FTSE RAFI US 1500 Small-Mid ETF
ALTAR
Score™
4.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
53.5x P/Sales
ratio
1.0x
P/BV
ratio
1.8x Div.
yield
1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The FTSE™ RAFI 1500 Small-Mid Index is designed to track the performance of small- and mid-cap U.S. equities, selected and weighted based on four fundamental measures of firm size: book value, income, sales and dividends.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Sep 20, 2006
Assets (mns) $1,696
Currency USD
Expense ratio 39 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 1442
Wgt avg mkt cap (mns) $4,329
Large cap (>$10bn) 9.9%
Mid cap ($2-10bn) 34.9%
Small cap (<$2bn) 54.8%
Developed mkts 99.7%
Emerging mkts 0.3%

TOP TEN HOLDINGS
FOSSIL INC 0.4 %
OVERSTOCK.COM INC 0.3 %
GENERAC HOLDINGS INC 0.3 %
WAYFAIR INC- CLASS A 0.3 %
WEST PHARMACEUTICAL SERVICES 0.3 %
IDEXX LABORATORIES INC 0.3 %
ALLSCRIPTS-MISYS HEALTHCARE 0.3 %
MODERNA, INC. 0.3 %
BMC STOCK HOLDINGS, INC. 0.3 %
VISTA OUTDOOR INC 0.3 %
Total 3.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.2 %
BERMUDA 1.4 %
BRITAIN 0.8 %
PUERTO RICO 0.5 %
IRELAND 0.5 %
CAYMAN ISLANDS 0.4 %
CANADA 0.4 %
ISRAEL 0.3 %
LUXEMBOURG 0.3 %
MONACO 0.2 %

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.
-11.7% -6.7% 5.6% 8.9% 7.6%

Market Correlations
versus... Beta R-squared
S&P500 1.25 85%
MSCI EAFE 1.31 77%
MSCI Emg. Mkts. 0.99 68%

Technical Indicators
Recent close $143.60
30d moving avg. $129.39
Annualized volatility 24.2%
Short interest (ETF) 0.3%
Short interest (Underlying) 6.1%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 32
Turnover 0.3%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $38,822

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco FTSE RAFI US 1500 Small-Mid ETF ETF based on the alternatives' overlap in portfolio holdings with PRFZ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PRFZ Expense: 39 bp ALTAR Score™: 4.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PRFZ
Ticker Fund
Name
Overlap1
vs PRFZ
(%)
Expense
ratio
(bp)
Savings
vs PRFZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs PRFZ
(%)
IUSS Invesco Strategic US Small Company ETF 49.9 23 16 4.3 +0.3
FNDA Schwab Fundamental U.S. Small Co. Index ETF 49.8 25 14 6.1 +2.1
IWM iShares Russell 2000 ETF 46.5 19 20 2.9 -1.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 46.4 20 19 4.2 +0.1
VTWO Vanguard Russell 2000 Index Fund 46.2 10 29 3.0 -1.1
IWN iShares Russell 2000 Value ETF 43.3 24 15 5.6 +1.6
SCHA Schwab U.S. Small-Cap ETF 42.4 4 35 4.1 +0.1
PBSM Invesco PureBeta MSCI USA Small Cap ETF 40.1 6 33 4.4 +0.4
VTWV Vanguard Russell 2000 Value Index Fund 39.0 15 24 5.7 +1.7
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 37.2 40 -1 6.0 +2.0
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 36.7 29 10 4.4 +0.4
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 35.6 17 22 4.3 +0.2
SPSM SPDR Portfolio Small Cap ETF 34.9 5 34 6.3 +2.2
IJR iShares Core S&P Small Cap ETF 34.8 6 33 6.2 +2.2
SLY SPDR S&P 600 Small Cap ETF 34.8 15 24 6.1 +2.1
VIOO Vanguard S&P Small-Cap 600 ETF 34.7 10 29 6.0 +1.9
EES WisdomTree SmallCap Earnings Fund 34.2 38 1 8.7 +4.7
RWJ Invesco S&P SmallCap 600 Revenue ETF 32.7 39 0 5.6 +1.6
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 32.0 29 10 5.3 +1.3
SSLY Syntax Stratified SmallCap ETF 31.7 30 9 5.6 +1.5
VB Vanguard Small-Cap ETF 31.3 5 34 4.8 +0.8
VXF Vanguard Extended Market Index Fund 31.2 6 33 2.9 -1.2
FSMD Fidelity Small-Mid Factor ETF 30.5 29 10 5.7 +1.6
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 30.3 35 4 6.7 +2.7
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 29.4 35 4 6.9 +2.9
TPSC Timothy Plan US Small Cap Core ETF 29.1 52 -13 6.4 +2.3
STSB iShares Factors US Small Blend Style ETF 28.4 35 4 2.9 -1.1
IJS iShares S&P Small-cap 600 Value ETF 28.3 25 14 7.4 +3.4
VIOV Vanguard S&P Small-Cap 600 Value ETF 28.3 15 24 7.4 +3.3
SLYV SPDR S&P 600 Small Cap Value ETF 28.3 15 24 7.6 +3.5
BKSE BNY Mellon US Small Cap Core Equity ETF 27.8 4 35 5.0 +1.0
FYX First Trust Small Cap Core AlphaDEX Fund 27.2 63 -24 6.4 +2.3
FAD First Trust Multi Cap Growth AlphaDEX Fund 27.1 66 -27 2.0 -2.0
DES WisdomTree U.S. SmallCap Dividend Fund 26.8 38 1 7.3 +3.3
VBK Vanguard Small-Cap Growth Index Fund 26.7 7 32 2.0 -2.0
VFLQ Vanguard U.S. Liquidity Factor ETF 25.9 14 25 3.7 -0.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 25.9 24 15 5.9 +1.8
IWO iShares Russell 2000 Growth ETF 25.9 24 15 -0.1 -4.1
CSML IQ Chaikin U.S. Small Cap ETF 25.3 35 4 3.4 -0.6
VFQY Vanguard U.S. Quality Factor ETF 25.3 13 26 5.8 +1.7
VTWG Vanguard Russell 2000 Growth Index Fund 25.0 15 24 -0.0 -4.1
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 24.9 29 10 -0.4 -4.4
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 22.6 35 4 5.3 +1.2
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 22.6 39 0 4.6 +0.5
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 22.3 30 9 6.8 +2.8
NUSC Nuveen ESG Small-Cap ETF 21.8 40 -1 4.2 +0.2
TUSA First Trust Total US Market AlphaDEX ETF 21.7 70 -31 5.3 +1.2
VFMO Vanguard U.S. Momentum Factor ETF 21.7 13 26 0.3 -3.7
EZM WisdomTree U.S. MidCap Earnings Fund 21.0 38 1 7.5 +3.4
RNSC Small Cap US Equity Select ETF 20.9 60 -21 6.7 +2.6
AVUV Avantis U.S. Small Cap Value ETF 20.9 25 14 6.8 +2.7
VBR Vanguard Small Cap Value Index Fund 20.9 7 32 7.0 +3.0
VIOG Vanguard S&P Small-Cap 600 Growth ETF 20.8 16 23 4.7 +0.7
SLYG SPDR S&P 600 Small Cap Growth ETF 20.7 15 24 4.9 +0.8
IJT iShares S&P Small-Cap 600 Growth ETF 20.7 25 14 4.8 +0.7
AFSM First Trust Active Factor Small Cap ETF 20.1 75 -36 5.1 +1.0
PSC Principal U.S. Small Cap Index ETF 19.7 38 1 5.2 +1.2
VFMF Vanguard U.S. Multifactor ETF 19.6 19 20 6.5 +2.5
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 19.5 7 32 4.6 +0.6
IWC iShares Micro-Cap ETF 18.9 60 -21 -3.7 -7.7
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 18.5 12 27 6.5 +2.4
VFVA Vanguard U.S. Value Factor ETF 18.3 14 25 9.3 +5.3
ISMD Inspire Small/Mid Cap Impact ETF 18.0 60 -21 4.2 +0.1
ROGS Hartford Multifactor Global Small Cap ETF 17.9 34 5 7.2 +3.1
EWMC Invesco S&P MidCap 400 Equal Weight ETF 17.5 40 -1 6.1 +2.1
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 17.1 20 19 4.4 +0.3
SFYX Sofi Next 500 ETF 16.3 0 39 5.3 +1.2
FNX First Trust Mid Cap Core AlphaDEX Fund 16.3 61 -22 5.7 +1.6
SPMD SPDR Portfolio Mid Cap ETF 16.2 5 34 5.8 +1.7
IJH iShares Core S&P Mid-Cap ETF 16.2 5 34 5.8 +1.7
MDY SPDR S&P Midcap 400 ETF Trust 16.2 23 16 5.6 +1.5
FYT First Trust Small Cap Value AlphaDEX Fund 16.2 72 -33 9.0 +5.0
BFOR Barron's 400 ETF 16.1 65 -26 6.0 +2.0
IVOO Vanguard S&P Mid-Cap 400 ETF 16.1 10 29 5.8 +1.7
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 15.5 20 19 7.7 +3.6
SMDY Syntax Stratified MidCap ETF 15.4 30 9 5.8 +1.8
JHSC John Hancock Multifactor Small Cap ETF 14.9 42 -3 4.9 +0.9
JHMM John Hancock Multifactor Mid Cap ETF 14.8 42 -3 5.0 +0.9
JKK iShares Morningstar Small-Cap Growth ETF 14.7 30 9 0.9 -3.1
FNY First Trust Mid Cap Growth AlphaDEX Fund 14.1 70 -31 1.8 -2.2
MDYG SPDR S&P 400 Mid Cap Growth ETF 14.0 15 24 4.6 +0.5
IJK iShares S&P Mid-Cap 400 Growth ETF 14.0 24 15 4.5 +0.4
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 13.8 15 24 4.6 +0.5
SCHM Schwab U.S. Mid-Cap ETF 13.7 4 35 5.3 +1.3
JKJ iShares Morningstar Small-Cap ETF 13.2 25 14 5.5 +1.5
FAB First Trust Multi Cap Value AlphaDEX Fund 12.7 71 -32 8.1 +4.0
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 12.7 25 14 5.6 +1.6
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 12.6 38 1 7.4 +3.4
IWR iShares Russell Midcap ETF 12.5 19 20 5.0 +0.9
IWP iShares Russell Mid-Cap Growth ETF 12.4 24 15 2.8 -1.2
EQAL Invesco Russell 1000 Equal Weight ETF 12.1 20 19 5.2 +1.2
AVUS Avantis U.S. Equity ETF 11.9 15 24 5.1 +1.0
FYC First Trust Small Cap Growth AlphaDEX Fund 11.8 70 -31 2.1 -2.0
SQLV Legg Mason Small-Cap Quality Value 11.7 62 -23 5.4 +1.4
RWK Invesco S&P MidCap 400 Revenue ETF 11.6 39 0 6.7 +2.6
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 11.1 30 9 5.2 +1.2
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 10.9 21 18 2.9 -1.2
ONEO SPDR Russell 1000 Momentum Focus ETF 10.9 20 19 5.9 +1.8
AFMC First Trust Active Factor Mid Cap ETF 10.9 65 -26 5.8 +1.7
SMMD iShares Russell 2500 ETF 10.8 15 24 5.1 +1.0

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 FTSE RAFI US 1500 Small-Mid ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 7.6 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 4.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.50
 
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.