Invesco S&P SmallCap Financials ETF
ALTAR
Score™
14.7% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
8.2x P/Sales
ratio
1.7x
P/BV
ratio
0.8x Div.
yield
6.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P Small Cap Financials is based on the S&P SmallCap 600 Capped Financials Index. The Index is a subset of the S&P SmallCap 600 Index, which is a float-adjusted, market-capitalization-weighted index reflecting the U.S. small-cap market.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.invescopowershares.com
Inception date Apr 07, 2010
Assets (mns) $32
Currency USD
Expense ratio 29 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 142
Wgt avg mkt cap (mns) $1,358
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 20.1%
Small cap (<$2bn) 79.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EHEALTH INC 2.6 %
COMMUNITY BANK SYSTEM INC 2.5 %
AGREE REALTY CORP 2.3 %
GLACIER BANCORP INC 2.3 %
CVB FINANCIAL CORP 2.1 %
LEXINGTON REALTY TRUST 2.0 %
INDEPENDENT BANK CORP/MA 1.9 %
KINSALE CAPITAL GROUP, INC. 1.8 %
OLD NATL BANCORP/IN 1.8 %
SIMMONS FIRST NATL CORP-CL A 1.6 %
Total 20.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.8 %
PUERTO RICO 1.3 %
BERMUDA 1.3 %
CAYMAN ISLANDS 1.0 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-34.9% -27.2% 0.3% -- 6.0%

Market Correlations
versus... Beta R-squared
S&P500 1.25 72%
MSCI EAFE 1.17 61%
MSCI Emg. Mkts. 0.86 49%

Technical Indicators
Recent close $33.91
30d moving avg. $41.41
Annualized volatility 22.3%
Short interest (ETF) 0.7%
Short interest (Underlying) 5.1%
Relative strength (RSI) 30

Liquidity measures
Avg. volume (thou.) 13
Turnover 1.4%
Bid/Ask (% of price) 1.32%
ADV underlying (mns) $1,585

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PSCF Expense: 29 bp ALTAR Score™: 14.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PSCF
Ticker Fund
Name
Overlap1
vs PSCF
(%)
Expense
ratio
(bp)
Savings
vs PSCF
(bp)
ALTAR
Score™
(%)
ALTAR
vs PSCF
(%)
XSLV Invesco S&P SmallCap Low Volatility ETF 53.3 25 4 11.2 -3.6
SLYV SPDR S&P 600 Small Cap Value ETF 32.9 15 14 11.6 -3.1
VIOV Vanguard S&P Small-Cap 600 Value ETF 32.2 15 14 11.6 -3.1
IJS iShares S&P Small-cap 600 Value ETF 31.9 25 4 11.5 -3.3
ROOF IQ US Real Estate Small Cap ETF 29.2 70 -41 14.4 -0.4
QABA First Trust NASDAQ ABA Community Bank Index Fund 26.3 60 -31 12.8 -1.9
SPSM SPDR Portfolio Small Cap ETF 24.4 5 24 9.1 -5.6
SLY SPDR S&P 600 Small Cap ETF 24.3 15 14 9.0 -5.7
IJR iShares Core S&P Small Cap ETF 24.2 7 22 9.1 -5.6
VIOO Vanguard S&P Small-Cap 600 ETF 23.8 10 19 9.1 -5.7
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 22.8 40 -11 8.4 -6.3
XSVM Invesco S&P SmallCap Value with Momentum ETF 22.7 39 -10 15.0 +0.3
XSHQ Invesco S&P SmallCap Quality ETF 19.5 29 0 7.5 -7.2
PXSG Invesco S&P SmallCap Momentum ETF 19.5 39 -10 7.1 -7.7
SLYG SPDR S&P 600 Small Cap Growth ETF 17.4 15 14 7.2 -7.6
IJT iShares S&P Small-Cap 600 Growth ETF 17.3 25 4 7.1 -7.7
KBWR Invesco KBW Regional Banking ETF 17.3 35 -6 14.5 -0.2
VIOG Vanguard S&P Small-Cap 600 Growth ETF 17.0 16 13 7.1 -7.6
DES WisdomTree U.S. SmallCap Dividend Fund 15.9 38 -9 11.8 -2.9
KRE SPDR S&P Regional Banking ETF 15.6 35 -6 15.1 +0.4
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 15.5 12 17 11.1 -3.6
VTWV Vanguard Russell 2000 Value Index Fund 15.2 15 14 9.7 -5.0
IWN iShares Russell 2000 Value ETF 14.8 24 5 9.5 -5.2
FYX First Trust Small Cap Core AlphaDEX Fund 14.2 63 -34 8.4 -6.4
FYT First Trust Small Cap Value AlphaDEX Fund 13.6 72 -43 12.8 -2.0
RORE Hartford Multifactor REIT ETF 13.5 45 -16 18.6 +3.8
FYC First Trust Small Cap Growth AlphaDEX Fund 13.2 70 -41 3.4 -11.4
RNSC Small Cap US Equity Select ETF 12.5 60 -31 9.0 -5.7
EES WisdomTree SmallCap Earnings Fund 12.5 38 -9 17.1 +2.4
TPSC Timothy Plan US Small Cap Core ETF 12.2 52 -23 10.3 -4.4
ISMD Inspire Small/Mid Cap Impact ETF 12.2 61 -32 9.1 -5.7
CSA Victory CEMP US Small Cap Volatility Weighted Index ETF 12.2 35 -6 10.8 -3.9
RZG Invesco S&P Smallcap 600 Pure Growth ETF 11.7 35 -6 9.1 -5.6
PSC Principal U.S. Small Cap Index ETF 10.7 38 -9 10.1 -4.6
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 10.7 39 -10 8.2 -6.5
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 10.2 39 -10 6.0 -8.8
KBE SPDR S&P Bank ETF 10.2 35 -6 15.0 +0.2
AFSM First Trust Active Factor Small Cap ETF 10.0 75 -46 8.9 -5.8
CSML IQ Chaikin U.S. Small Cap ETF 9.9 35 -6 7.3 -7.5
NETL NETLease Corporate Real Estate ETF 9.8 60 -31 10.5 -4.2
PPTY PPTY-U.S. Diversified Real Estate ETF 9.6 53 -24 7.6 -7.1
AVUV Avantis U.S. Small Cap Value ETF 9.4 25 4 12.8 -1.9
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 9.3 24 5 10.4 -4.4
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 9.1 29 0 14.8 +0.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 9.1 20 9 8.3 -6.4
CSF Victory CEMP US Discovery Enhanced Volatility Weighted Idx E 9.1 35 -6 10.8 -3.9
ROGS Hartford Multifactor Global Small Cap ETF 9.0 34 -5 11.0 -3.7
OSCV Opus Small Cap Value Plus ETF 9.0 79 -50 7.8 -6.9
VTWO Vanguard Russell 2000 Index Fund 8.6 10 19 5.4 -9.4
IWM iShares Russell 2000 ETF 8.5 19 10 5.2 -9.5
SCAP AdvisorShares Cornerstone Small Cap ETF 8.5 90 -61 7.3 -7.5
RWJ Invesco S&P SmallCap 600 Revenue ETF 8.2 39 -10 9.1 -5.6
CSB Victory CEMP US Small Cap High Dividend Volatility Wtd Idx E 8.0 35 -6 11.9 -2.8
RZV Invesco S&P Smallcap 600 Pure Value ETF 7.9 35 -6 12.3 -2.5
GRI ALPS REIT Dividend Dogs ETF 7.6 35 -6 19.5 +4.8
RTL Pacer Benchmark Retail Real Estate SCTR ETF 7.3 60 -31 15.3 +0.6
JKJ iShares Morningstar Small-Cap ETF 7.2 25 4 8.5 -6.2
SMDV ProShares Russell 2000 Dividend Growers ETF 7.2 40 -11 8.0 -6.7
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 6.9 20 9 7.4 -7.3
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 6.8 30 -1 16.3 +1.6
KSCD KFA Small Cap Quality Dividend Index ETF 6.5 51 -22 7.1 -7.6
SCHA Schwab U.S. Small-Cap ETF 6.4 4 25 6.9 -7.8
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 6.4 29 0 7.9 -6.9
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 6.1 35 -6 8.6 -6.1
JKL iShares Morningstar Small Cap Value ETF 6.0 30 -1 14.2 -0.6
DWAS Invesco DWA SmallCap Momentum ETF 6.0 60 -31 -1.1 -15.8
VBR Vanguard Small Cap Value Index Fund 6.0 7 22 11.4 -3.4
FNDA Schwab Fundamental U.S. Small Co. Index ETF 5.3 25 4 9.1 -5.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 5.2 6 23 7.4 -7.3
KBWY Invesco KBW Premium Yield Equity REIT ETF 5.1 35 -6 23.2 +8.4
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 5.1 29 0 3.2 -11.5
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 5.1 30 -1 10.1 -4.6
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 4.9 38 -9 12.6 -2.2
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 4.9 11 18 8.8 -5.9
FRI First Trust S&P REIT Index Fund 4.8 50 -21 8.5 -6.3
USRT iShares Core U.S. REIT ETF 4.7 8 21 8.9 -5.8
NUSC Nuveen ESG Small-Cap ETF 4.6 40 -11 7.1 -7.7
SRET Global X SuperDividend REIT ETF 4.4 59 -30 27.6 +12.9
PFI Invesco DWA Financial Momentum ETF 4.4 60 -31 4.0 -10.7
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 4.3 60 -31 12.0 -2.7
BUY USCF SummerHaven SHPEI Index Fund 4.2 80 -51 16.1 +1.3
SQLV Legg Mason Small-Cap Quality Value 4.2 62 -33 10.7 -4.0
NURE Nuveen Short-Term REIT ETF 4.2 35 -6 10.1 -4.6
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 4.2 17 12 6.8 -7.9
VFQY Vanguard U.S. Quality Factor ETF 4.1 13 16 8.0 -6.7
VAMO Cambria Value & Momentum ETF 4.1 64 -35 9.0 -5.7
SDIV Global X SuperDividend ETF 4.0 58 -29 23.8 +9.1
IWC iShares Micro-Cap ETF 3.9 60 -31 -4.7 -19.4
FREL Fidelity MSCI Real Estate Index ETF 3.9 8 21 7.9 -6.8
VFLQ Vanguard U.S. Liquidity Factor ETF 3.9 13 16 5.1 -9.6
FSMD Fidelity Small-Mid Factor ETF 3.9 29 0 9.4 -5.4
INDS Pacer Benchmark Industrial Real Estate SCTR ETF 3.9 60 -31 4.9 -9.9
REM iShares Mortgage Real Estate ETF 3.9 48 -19 34.0 +19.3
KBWP Invesco KBW Property & Casualty Insurance ETF 3.8 35 -6 8.3 -6.4
VFMV Vanguard U.S. Minimum Volatility ETF 3.7 13 16 5.7 -9.0
VNQ Vanguard REIT Index Fund 3.7 12 17 7.9 -6.8
SCHH Schwab U.S. REIT ETF 3.6 7 22 9.0 -5.8
IAK iShares U.S. Insurance ETF 3.6 43 -14 11.5 -3.3
BFOR Barron's 400 ETF 3.6 66 -37 8.5 -6.2
RWR SPDR Dow Jones REIT ETF 3.6 25 4 8.8 -5.9

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 S&P SmallCap Financials 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 11.8 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 14.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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