Invesco S&P SmallCap Financials ETF
ALTAR
Score™
11.1% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
19.0x P/Sales
ratio
2.2x
P/BV
ratio
1.0x Div.
yield
4.0%


  • 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) $26
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 154
Wgt avg mkt cap (mns) $1,448
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 19.0%
Small cap (<$2bn) 81.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
KINSALE CAPITAL GROUP, INC. 2.5 %
AGREE REALTY CORP 2.0 %
GREEN DOT CORP-CLASS A 1.8 %
COMMUNITY BANK SYSTEM INC 1.7 %
TRUPANION INC 1.7 %
AMERICAN EQUITY INVT LIFE HL 1.7 %
LEXINGTON REALTY TRUST 1.6 %
INNOVATIVE INDUSTRIAL PROPERTIES I 1.6 %
PACIFIC PREMIER BANCORP INC 1.3 %
CVB FINANCIAL CORP 1.3 %
Total 17.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.3 %
BERMUDA 2.5 %
PUERTO RICO 1.2 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-30.2% -26.1% 2.2% 7.6% 6.4%

Market Correlations
versus... Beta R-squared
S&P500 1.06 71%
MSCI EAFE 1.14 68%
MSCI Emg. Mkts. 0.82 54%

Technical Indicators
Recent close $39.72
30d moving avg. $39.05
Annualized volatility 22.4%
Short interest (ETF) 0.8%
Short interest (Underlying) 5.1%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.6%
Bid/Ask (% of price) 0.49%
ADV underlying (mns) $1,462

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 11.1%


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
(%)
VIOV Vanguard S&P Small-Cap 600 Value ETF 31.1 15 14 8.7 -2.4
SLYV SPDR S&P 600 Small Cap Value ETF 31.0 15 14 8.7 -2.5
ROOF IQ US Real Estate Small Cap ETF 30.8 70 -41 11.8 +0.6
IJS iShares S&P Small-cap 600 Value ETF 30.5 25 4 8.8 -2.4
QABA First Trust NASDAQ ABA Community Bank Index Fund 26.3 60 -31 10.3 -0.9
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 24.8 40 -11 7.1 -4.0
SPSM SPDR Portfolio Small Cap ETF 24.8 5 24 6.9 -4.2
SLY SPDR S&P 600 Small Cap ETF 24.8 15 14 6.8 -4.3
VIOO Vanguard S&P Small-Cap 600 ETF 24.6 10 19 6.8 -4.3
IJR iShares Core S&P Small Cap ETF 24.3 6 23 6.9 -4.2
FYT First Trust Small Cap Value AlphaDEX Fund 20.6 72 -43 9.4 -1.7
XSVM Invesco S&P SmallCap Value with Momentum ETF 20.1 39 -10 9.0 -2.1
XSHQ Invesco S&P SmallCap Quality ETF 19.6 29 0 6.6 -4.5
SLYG SPDR S&P 600 Small Cap Growth ETF 19.0 15 14 5.3 -5.9
XSLV Invesco S&P SmallCap Low Volatility ETF 18.6 25 4 5.5 -5.6
IJT iShares S&P Small-Cap 600 Growth ETF 18.6 25 4 5.4 -5.8
VIOG Vanguard S&P Small-Cap 600 Growth ETF 18.0 16 13 5.2 -5.9
SSLY Syntax Stratified SmallCap ETF 17.8 30 -1 6.4 -4.8
DES WisdomTree U.S. SmallCap Dividend Fund 17.3 38 -9 8.3 -2.8
FYX First Trust Small Cap Core AlphaDEX Fund 16.4 63 -34 6.0 -5.2
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 15.9 12 17 7.5 -3.7
KRE SPDR S&P Regional Banking ETF 15.1 35 -6 10.4 -0.8
PFI Invesco DWA Financial Momentum ETF 14.9 60 -31 5.7 -5.5
RZG Invesco S&P Smallcap 600 Pure Growth ETF 14.7 35 -6 5.7 -5.5
IWN iShares Russell 2000 Value ETF 14.5 24 5 6.7 -4.5
ISMD Inspire Small/Mid Cap Impact ETF 14.4 60 -31 4.8 -6.3
KBWR Invesco KBW Regional Banking ETF 13.2 35 -6 11.1 -0.0
EES WisdomTree SmallCap Earnings Fund 12.7 38 -9 10.0 -1.1
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 12.5 35 -6 7.7 -3.5
RNSC Small Cap US Equity Select ETF 12.2 60 -31 7.0 -4.2
PXSG Invesco S&P SmallCap Momentum ETF 12.0 39 -10 3.7 -7.5
FYC First Trust Small Cap Growth AlphaDEX Fund 11.6 70 -41 1.8 -9.3
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 11.0 29 0 5.7 -5.5
PPTY PPTY-U.S. Diversified Real Estate ETF 10.9 49 -20 7.2 -3.9
PSC Principal U.S. Small Cap Index ETF 10.8 38 -9 6.7 -4.5
VTWV Vanguard Russell 2000 Value Index Fund 10.5 15 14 6.9 -4.3
KBE SPDR S&P Bank ETF 10.3 35 -6 10.7 -0.4
NETL NETLease Corporate Real Estate ETF 10.0 60 -31 8.3 -2.9
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 9.9 35 -6 7.8 -3.3
RWJ Invesco S&P SmallCap 600 Revenue ETF 9.9 39 -10 6.8 -4.3
TPSC Timothy Plan US Small Cap Core ETF 9.6 52 -23 7.9 -3.3
CSML IQ Chaikin U.S. Small Cap ETF 9.6 35 -6 3.8 -7.4
ROGS Hartford Multifactor Global Small Cap ETF 9.3 34 -5 8.0 -3.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 9.2 39 -10 4.5 -6.7
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 9.2 80 -51 5.7 -5.5
AFSM First Trust Active Factor Small Cap ETF 9.0 75 -46 5.3 -5.8
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 8.7 20 9 4.7 -6.4
RZV Invesco S&P Smallcap 600 Pure Value ETF 8.6 35 -6 8.0 -3.1
AVUV Avantis U.S. Small Cap Value ETF 8.4 25 4 7.9 -3.3
RYJ Invesco Raymond James SB-1 Equity ETF 8.3 76 -47 3.3 -7.9
IWM iShares Russell 2000 ETF 8.3 19 10 3.3 -7.9
GRI ALPS REIT Dividend Dogs ETF 8.2 35 -6 22.2 +11.1
VTWO Vanguard Russell 2000 Index Fund 8.2 10 19 3.5 -7.7
SQLV Legg Mason Small-Cap Quality Value 7.5 62 -33 6.2 -4.9
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 7.3 24 5 6.3 -4.8
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 7.2 39 -10 6.4 -4.8
OSCV Opus Small Cap Value Plus ETF 6.9 79 -50 5.4 -5.8
KBWY Invesco KBW Premium Yield Equity REIT ETF 6.8 35 -6 12.3 +1.1
RWR SPDR Dow Jones REIT ETF 6.6 25 4 7.6 -3.6
SMDV ProShares Russell 2000 Dividend Growers ETF 6.5 41 -12 6.5 -4.6
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 6.5 35 -6 5.8 -5.3
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 6.5 30 -1 7.4 -3.7
KIE SPDR S&P Insurance ETF 6.4 35 -6 10.2 -1.0
FNDA Schwab Fundamental U.S. Small Co. Index ETF 6.2 25 4 7.2 -4.0
SCHA Schwab U.S. Small-Cap ETF 6.2 4 25 4.6 -6.5
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 6.1 29 0 4.9 -6.2
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 5.9 11 18 7.4 -3.8
FRI First Trust S&P REIT Index Fund 5.8 50 -21 7.0 -4.2
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 5.7 35 -6 9.9 -1.2
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 5.7 20 9 4.6 -6.5
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 5.6 38 -9 8.3 -2.8
USRT iShares Core U.S. REIT ETF 5.5 8 21 7.4 -3.7
KSCD KFA Small Cap Quality Dividend Index ETF 5.3 51 -22 5.6 -5.6
VFLQ Vanguard U.S. Liquidity Factor ETF 5.2 14 15 4.1 -7.0
VFVA Vanguard U.S. Value Factor ETF 5.1 14 15 10.8 -0.3
VFQY Vanguard U.S. Quality Factor ETF 5.1 13 16 6.3 -4.9
CVY Invesco Zacks Multi-Asset Income ETF 5.0 94 -65 10.4 -0.8
BFOR Barron's 400 ETF 5.0 65 -36 6.3 -4.8
PBSM Invesco PureBeta MSCI USA Small Cap ETF 5.0 6 23 5.0 -6.2
REM iShares Mortgage Real Estate ETF 4.9 48 -19 16.4 +5.3
VBR Vanguard Small Cap Value Index Fund 4.9 7 22 7.9 -3.2
IAK iShares U.S. Insurance ETF 4.9 42 -13 9.6 -1.6
SCHH Schwab U.S. REIT ETF 4.9 7 22 6.7 -4.4
FREL Fidelity MSCI Real Estate Index ETF 4.9 8 21 6.7 -4.5
SRET Global X SuperDividend REIT ETF 4.8 59 -30 11.9 +0.7
NUSC Nuveen ESG Small-Cap ETF 4.8 40 -11 4.7 -6.5
DWAS Invesco DWA SmallCap Momentum ETF 4.8 60 -31 -2.0 -13.1
NURE Nuveen Short-Term REIT ETF 4.5 35 -6 7.2 -3.9
JKJ iShares Morningstar Small-Cap ETF 4.5 25 4 6.3 -4.9
FAB First Trust Multi Cap Value AlphaDEX Fund 4.3 71 -42 9.5 -1.7
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 4.3 17 12 4.7 -6.4
MORT VanEck Vectors Mortgage REIT Income ETF 4.2 41 -12 16.6 +5.5
VNQ Vanguard REIT Index Fund 4.2 12 17 6.6 -4.5
REET iShares Global REIT ETF 4.1 14 15 7.6 -3.6
INDS Pacer Benchmark Industrial Real Estate SCTR ETF 4.0 60 -31 3.8 -7.4
FSMD Fidelity Small-Mid Factor ETF 4.0 29 0 6.1 -5.0
RWO SPDR Dow Jones Global Real Estate ETF 3.9 50 -21 7.2 -3.9
BUY USCF SummerHaven SHPEI Index Fund 3.7 80 -51 8.6 -2.6
JSML Janus Henderson Small Cap Growth Alpha ETF 3.7 30 -1 7.8 -3.4

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 10.8 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 11.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 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.