ETF Research Center

Invesco S&P SmallCap Financials ETF

ALTAR
Score™

7.0%

Recommen-
dation

NEUTRAL

2025E 2026E
P/E ratio	13.6x	P/Sales ratio	2.1x
P/BV ratio	1.2x	Div. yield	4.1%

Description
Performance
Comps
Fundamentals
Valuation
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
Website	www.invescopowershares.com
Inception date	Apr 07, 2010
Assets (mns)	$19
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	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	155
Wgt avg mkt cap (mns)	$2,751
Large cap (>$10bn)	0.0%
Mid cap ($2-10bn)	67.8%
Small cap (<$2bn)	32.2%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	16.3 %
TERRENO REALTY CORP	2.0 %
MR. COOPER GROUP, INC.	2.0 %
LINCOLN NATIONAL CORP	1.9 %
JACKSON FINANCIAL INCORPORATION CL	1.9 %
ESSENTIAL PROPERTIES REALTY TRUST,	1.7 %
CARETRUST REIT INC	1.6 %
RADIAN GROUP INC	1.4 %
PHILLIPS EDISON & COMPANY, INC.	1.3 %
MOELIS & CO - CLASS A	1.3 %
SERVISFIRST BANCSHARES INC	1.3 %

TOP COUNTRY EXPOSURE
	UNITED STATES	88.7 %
	PUERTO RICO	2.1 %
	BERMUDA	1.6 %
	BRITAIN	0.7 %

Standardized Annual Returns (thru February 28)
Year-to-date	1 year	5 years	10 years	Since Incep.
1.2%	21.5%	5.6%	6.3%	8.3%

Market Correlations
versus...	Beta	R-squared
S&P500	1.08	52%
MSCI EAFE	0.99	44%
MSCI Emg. Mkts.	0.71	23%

Technical Indicators
Recent close	$48.07
30d moving avg.	$54.03
Annualized volatility	25.8%
Short interest (ETF)	0.4%
Short interest (Underlying)	4.1%
Relative strength (RSI)	42

Liquidity measures
Avg. volume (thou.)	3
Turnover	0.8%
Bid/Ask (% of price)	0.22%
ADV underlying (mns)	$1,915

FINDING ALTERNATIVE FUNDS

Below is a list of 367 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™:

7.0%

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 (%)
XSVM	Invesco S&P SmallCap Value with Momentum ETF	32.7	36	-7	11.5	+4.5
IJS	iShares S&P Small-Cap 600 Value ETF	31.3	18	11	10.7	+3.7
ESIX	SPDR S&P SmallCap 600 ESG ETF	29.8	12	17	6.6	-0.4
XSMO	Invesco S&P SmallCap Momentum ETF	29.7	39	-10	5.9	-1.0
VIOV	Vanguard S&P Small-Cap 600 Value ETF	29.7	15	14	10.4	+3.5
SLYV	SPDR S&P 600 Small Cap Value ETF	29.6	15	14	10.7	+3.7
KBE	SPDR S&P Bank ETF	29.2	35	-6	11.7	+4.7
XSLV	Invesco S&P SmallCap Low Volatility ETF	28.9	25	4	5.8	-1.2
QVMS	Invesco S&P SmallCap 600 QVM Multi-factor ETF	28.5	15	14	8.2	+1.3
XJR	iShares ESG Screened S&P Small-Cap ETF	28.5	12	17	7.4	+0.4
IJR	iShares Core S&P Small Cap ETF	26.8	6	23	8.2	+1.3
VIOO	Vanguard S&P Small-Cap 600 ETF	25.4	10	19	8.1	+1.2
SPSM	SPDR Portfolio S&P 600 Small Cap ETF	25.4	3	26	8.3	+1.3
SVAL	iShares US Small Cap Value Factor ETF	25.0	20	9	12.4	+5.5
KRE	SPDR S&P Regional Banking ETF	22.7	35	-6	12.3	+5.3
IJT	iShares S&P Small-Cap 600 Growth ETF	22.5	18	11	5.7	-1.2
SLYG	SPDR S&P 600 Small Cap Growth ETF	21.4	15	14	5.7	-1.2
VIOG	Vanguard S&P Small-Cap 600 Growth ETF	21.4	15	14	6.0	-1.0
OMFS	Invesco Russell 2000 Dynamic Multifactor ETF	20.0	39	-10	6.1	-0.9
IWN	iShares Russell 2000 Value ETF	19.7	24	5	6.5	-0.5
VTWV	Vanguard Russell 2000 Value ETF	19.6	15	14	6.7	-0.3
FYT	First Trust Small Cap Value AlphaDEX Fund	19.0	73	-44	11.2	+4.2
QABA	First Trust NASDAQ ABA Community Bank Index Fund	18.5	60	-31	10.6	+3.6
XSHQ	Invesco S&P SmallCap Quality ETF	17.9	29	0	9.3	+2.4
KBWR	Invesco KBW Regional Banking ETF	17.8	35	-6	11.5	+4.6
BBSC	JPMorgan BetaBuilders U.S. Small Cap Equity ETF	17.5	9	20	4.5	-2.4
SMLV	SPDR SSGA US Small Cap Low Volatility Index ETF	17.2	12	17	8.8	+1.9
DES	WisdomTree U.S. SmallCap Dividend Fund	17.2	38	-9	9.6	+2.7
FYX	First Trust Small Cap Core AlphaDEX Fund	16.8	61	-32	6.6	-0.3
AVSC	Avantis U.S Small Cap Equity ETF	16.4	25	4	7.4	+0.4
EES	WisdomTree U.S. SmallCap Fund	15.3	38	-9	10.3	+3.3
TPSC	Timothy Plan US Small Cap Core ETF	14.7	52	-23	8.1	+1.1
HAPS	Harbor Human Capital Factor US Small Cap ETF	14.6	60	-31	5.0	-1.9
RWJ	Invesco S&P SmallCap 600 Revenue ETF	14.6	39	-10	11.2	+4.2
JPSE	JPMorgan Diversified Return U.S. Small Cap Equity ETF	14.4	29	0	8.3	+1.3
SMCF	Themes US Small Cap Cash Flow Champions ETF	14.0	29	0	13.8	+6.8
PRFZ	Invesco FTSE RAFI US 1500 Small-Mid ETF	14.0	39	-10	4.6	-2.4
CSA	VictoryShares US Small Cap Volatility Wtd ETF	13.9	35	-6	5.2	-1.7
CSF	VictoryShares US Discovery Enhanced Volatility Wtd ETF	13.8	42	-13	5.6	-1.3
SMDV	ProShares Russell 2000 Dividend Growers ETF	13.7	40	-11	7.7	+0.7
PSC	Principal U.S. Small-Cap ETF	13.7	38	-9	7.7	+0.8
BSVO	EA Bridgeway Omni Small-Cap Value ETF	13.1	47	-18	11.1	+4.2
BLDG	Cambria Global Real Estate ETF	13.1	60	-31	4.5	-2.5
ISMD	Inspire Small/Mid Cap ETF	12.7	54	-25	5.3	-1.7
RZG	Invesco S&P Smallcap 600 Pure Growth ETF	12.7	35	-6	4.2	-2.8
GRPZ	Invesco S&P SmallCap 600 GARP ETF	12.5	35	-6	3.6	-3.4
AVUV	Avantis U.S. Small Cap Value ETF	12.4	25	4	12.3	+5.4
GSSC	Goldman Sachs Activebeta U.S. Small Cap Equity ETF	12.2	20	9	6.2	-0.8
RSSL	Global X Russell 2000 ETF	12.2	8	21	4.1	-2.9
RZV	Invesco S&P Smallcap 600 Pure Value ETF	12.1	35	-6	12.4	+5.4
FYC	First Trust Small Cap Growth AlphaDEX Fund	11.9	71	-42	1.3	-5.7
VTWO	Vanguard Russell 2000 ETF	11.8	10	19	4.3	-2.7
PPTY	US Diversified Real Estate ETF	11.8	53	-24	2.2	-4.8
IWM	iShares Russell 2000 ETF	11.5	19	10	4.1	-2.9
SIXS	ETC 6 Meridian Small Cap Equity ETF	11.4	89	-60	10.3	+3.4
CSB	VictoryShares US Small Cap High Dividend Volatility Wtd ETF	11.4	35	-6	10.3	+3.4
ROSC	Hartford Multifactor Small Cap ETF	11.4	34	-5	9.9	+2.9
FESM	Fidelity Enhanced Small Cap ETF	11.3	28	1	4.4	-2.6
BKSE	BNY Mellon US Small Cap Core Equity ETF	10.7	4	25	6.7	-0.3
STXK	Strive Small-Cap ETF	10.6	18	11	6.2	-0.8
FNDA	Schwab Fundamental US Small Co. Index ETF	10.5	25	4	7.4	+0.5
REAI	Intelligent Real Estate ETF	10.1	59	-30	0.7	-6.3
DFSV	Dimensional US Small Cap Value ETF	9.9	31	-2	12.5	+5.5
RIET	Hoya Capital High Dividend Yield ETF	9.9	50	-21	6.5	-0.5
AFSM	First Trust Active Factor Small Cap ETF	9.8	75	-46	7.9	+0.9
DFAT	Dimensional U.S. Targeted Value ETF	9.7	28	1	11.4	+4.4
ISCV	iShares Morningstar Small Cap Value ETF	9.6	6	23	9.5	+2.5
FLQS	Franklin U.S. Small Cap Multifactor Index ETF	9.4	35	-6	7.6	+0.6
SCHA	Schwab U.S. Small-Cap ETF	9.2	4	25	6.0	-1.0
KCE	SPDR S&P Capital Markets ETF	9.0	35	-6	7.5	+0.6
USVM	VictoryShares US Small Mid Cap Value Momentum ETF	8.9	25	4	8.7	+1.8
PFI	Invesco Dorsey Wright Financial Momentum ETF	8.7	60	-31	5.3	-1.7
DWAS	Invesco Dorsey Wright SmallCap Momentum ETF	8.3	60	-31	2.4	-4.6
BBRE	JPMorgan BetaBuilders MSCI U.S. REIT ETF	8.1	11	18	2.5	-4.4
DGRS	WisdomTree US Smallcap Quality Dividend Growth Fund	7.7	38	-9	11.3	+4.3
RWR	SPDR Dow Jones REIT ETF	7.7	25	4	2.3	-4.7
NIXT	Research Affiliates Deletions ETF	7.6	9	20	4.3	-2.6
JMEE	JPMorgan Market Expansion Enhanced Equity ETF	7.6	24	5	8.6	+1.6
NUSC	Nuveen ESG Small-Cap ETF	7.4	31	-2	6.0	-1.0
GQRE	FlexShares Global Quality Real Estate Index Fund	7.4	45	-16	4.5	-2.5
FRI	First Trust S&P REIT Index Fund	7.3	50	-21	2.1	-4.9
IRET	iREIT - MarketVector Quality REIT Index ETF	7.2	60	-31	2.5	-4.4
FTXO	First Trust Nasdaq Bank ETF	7.2	60	-31	11.5	+4.5
DFAS	Dimensional U.S. Small Cap ETF	7.1	26	3	7.8	+0.9
KIE	SPDR S&P Insurance ETF	7.0	35	-6	7.0	-0.0
SIXL	ETC 6 Meridian Low Beta Equity ETF	6.9	80	-51	6.1	-0.8
SMLF	iShares U.S. SmallCap Equity Factor ETF	6.9	15	14	6.7	-0.2
XSHD	Invesco S&P SmallCap High Dividend Low Volatility ETF	6.9	30	-1	8.2	+1.3
ISCB	iShares Morningstar Small-Cap ETF	6.8	4	25	6.4	-0.6
USRT	iShares Core U.S. REIT ETF	6.6	8	21	2.6	-4.4
SQLV	Royce Quant Small-Cap Quality Value ETF	6.6	60	-31	10.8	+3.8
VBR	Vanguard Small Cap Value ETF	6.6	7	22	9.5	+2.6
VFMF	Vanguard U.S. Multifactor ETF	6.5	18	11	9.6	+2.6
FREL	Fidelity MSCI Real Estate Index ETF	6.4	8	21	2.7	-4.3
HSMV	First Trust Horizon Managed Volatility Small/Mid ETF	6.2	80	-51	6.6	-0.4
DFAR	Dimensional US Real Estate ETF	6.2	19	10	2.5	-4.5
VRAI	Virtus Real Asset Income ETF	6.2	55	-26	8.5	+1.6
SCHH	Schwab U.S. REIT ETF	6.2	7	22	2.7	-4.3
RDOG	ALPS REIT Dividend Dogs ETF	6.1	35	-6	1.2	-5.8
KBWY	Invesco KBW Premium Yield Equity REIT ETF	6.0	35	-6	0.9	-6.0
FPRO	Fidelity Real Estate Investment ETF	5.9	59	-30	1.7	-5.3
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	5.9	17	12	6.4	-0.5
VNQ	Vanguard Real Estate ETF	5.9	12	17	2.6	-4.3
ETHO	Etho Climate Leadership U.S. ETF	5.7	47	-18	6.2	-0.7
RWO	SPDR Dow Jones Global Real Estate ETF	5.3	50	-21	3.1	-3.9
OSCV	Opus Small Cap Value ETF	5.2	79	-50	7.5	+0.5
JSML	Janus Henderson Small Cap Growth Alpha ETF	5.2	30	-1	9.5	+2.6
FSMD	Fidelity Small-Mid Multifactor ETF	5.2	15	14	7.8	+0.9
CVY	Invesco Zacks Multi-Asset Income ETF	4.9	106	-77	12.3	+5.3
SDIV	Global X Superdividend ETF	4.9	58	-29	15.4	+8.4
FAB	First Trust Multi Cap Value AlphaDEX Fund	4.9	67	-38	11.4	+4.4
NETL	NETLease Corporate Real Estate ETF	4.9	60	-31	3.9	-3.1
BFOR	ALPS Barron's 400 ETF	4.8	65	-36	7.0	+0.1
REET	iShares Global REIT ETF	4.8	14	15	3.6	-3.3
VFVA	Vanguard U.S. Value Factor ETF	4.8	13	16	13.3	+6.4
VXF	Vanguard Extended Market ETF	4.7	6	23	5.1	-1.8
WCEO	Hypatia Women CEO ETF	4.6	85	-56	-1.4	-8.4
VB	Vanguard Small-Cap ETF	4.6	5	24	6.5	-0.5
MVPA	Miller Value Partners Appreciation ETF	4.5	60	-31	9.5	+2.6
KBWD	Invesco KBW High Dividend Yield Financial ETF	4.4	384	-355	11.1	+4.1
NURE	Nuveen Short-Term REIT ETF	4.4	35	-6	1.6	-5.3
DFGR	Dimensional Global Real Estate ETF	4.4	22	7	3.4	-3.6
VAMO	Cambria Value & Momentum ETF	4.3	61	-32	7.0	+0.0
VTWG	Vanguard Russell 2000 Growth ETF	4.3	15	14	1.7	-5.2
IWO	iShares Russell 2000 Growth ETF	4.3	24	5	1.7	-5.3
VFQY	Vanguard U.S. Quality Factor ETF	4.2	13	16	7.4	+0.5
ERET	iShares Environmentally Aware Real Estate ETF	4.2	30	-1	3.3	-3.6
SMMV	iShares MSCI USA Small-Cap Min Vol Factor ETF	4.2	20	9	5.7	-1.3
DESK	VanEck Office and Commercial REIT ETF	4.1	50	-21	1.3	-5.6
MORT	VanEck Mortgage REIT Income ETF	4.0	43	-14	16.6	+9.6
REM	iShares Mortgage Real Estate ETF	4.0	48	-19	14.5	+7.5
EZM	WisdomTree U.S. MidCap Fund	3.9	38	-9	10.5	+3.5
RFDA	RiverFront Dynamic US Dividend Advantage ETF	3.8	52	-23	7.3	+0.4
MMSC	First Trust Multi-Manager Small Cap Opportunities ETF	3.8	95	-66	0.9	-6.0
ISCG	iShares Morningstar Small-Cap Growth ETF	3.8	6	23	3.1	-3.9
VFMO	Vanguard U.S. Momentum Factor ETF	3.7	13	16	3.9	-3.1
SAWS	AAM Sawgrass US Small Cap Quality Growth ETF	3.6	55	-26	5.7	-1.2
FNK	First Trust Mid Cap Value AlphaDEX Fund	3.5	70	-41	14.0	+7.1
REZ	iShares Residential and Multisector Real Estate ETF	3.5	48	-19	1.8	-5.1
JHSC	John Hancock Multifactor Small Cap ETF	3.5	42	-13	7.8	+0.8
FAD	First Trust Multi Cap Growth AlphaDEX Fund	3.4	64	-35	2.9	-4.0
WDIV	SPDR S&P Global Dividend ETF	3.3	40	-11	10.2	+3.2
RDVY	First Trust Rising Dividend Achievers ETF	3.3	50	-21	8.8	+1.9
IAK	iShares U.S. Insurance ETF	3.3	40	-11	7.0	+0.1
RNMC	First Trust Mid Cap US Equity Select ETF	3.3	60	-31	7.7	+0.7
FSCS	First Trust SMID Capital Strength ETF	3.3	60	-31	7.1	+0.1
FNY	First Trust Mid Cap Growth AlphaDEX Fund	3.2	70	-41	3.2	-3.7
DTRE	First Trust Alerian Disruptive Technology Real Estate ETF	3.2	60	-31	2.7	-4.2
FNX	First Trust Mid Cap Core AlphaDEX Fund	3.1	60	-31	9.3	+2.4
IWC	iShares Micro-Cap ETF	3.1	60	-31	-1.1	-8.1
HOMZ	Hoya Capital Housing ETF	3.1	30	-1	6.9	-0.1
SDVY	First Trust SMID Cap Rising Dividend Achievers ETF	3.1	60	-31	9.6	+2.6
JSMD	Janus Henderson Small/Mid Cap Growth Alpha ETF	3.1	30	-1	7.8	+0.8
HAUS	Residential REIT ETF	3.1	60	-31	0.8	-6.1
OUSM	ALPS O'Shares US Small-Cap Quality Dividend ETF	3.0	48	-19	9.1	+2.2
VFH	Vanguard Financials ETF	3.0	10	19	8.0	+1.0
DHS	WisdomTree U.S. High Dividend Fund	3.0	38	-9	8.5	+1.5
RSMC	Rockefeller U.S. Small-Mid Cap ETF	3.0	75	-46	5.7	-1.2
COPY	Tweedy, Browne Insider + Value ETF	3.0	80	-51	14.0	+7.0
CSMD	Congress SMid Growth ETF	2.9	69	-40	4.8	-2.2
INDS	Pacer Industrial Real Estate ETF	2.8	55	-26	4.3	-2.7
AVRE	Avantis Real Estate ETF	2.8	17	12	3.5	-3.4
FNCL	Fidelity MSCI Financials Index ETF	2.8	8	21	7.8	+0.9
SYLD	Cambria Shareholder Yield ETF	2.7	59	-30	13.4	+6.4
AZTD	Aztlan Global Stock Selection DM SMID ETF	2.7	75	-46	9.4	+2.5
FXO	First Trust Financials AlphaDEX Fund	2.6	62	-33	9.8	+2.8
SMIG	AAM Bahl & Gaynor Small/Mid Cap Income Growth ETF	2.6	60	-31	6.3	-0.7
BYRE	Principal Real Estate Active Opportunities ETF	2.6	65	-36	1.9	-5.1
STCE	Schwab Crypto Thematic ETF	2.6	30	-1	2.1	-4.9
DEW	WisdomTree Global High Dividend Fund	2.5	58	-29	8.5	+1.5
PSR	Invesco Active U.S. Real Estate Fund	2.5	35	-6	2.3	-4.6
LVHD	Franklin U.S. Low Volatility High Dividend Index ETF	2.4	27	2	6.5	-0.4
VGSR	Vert Global Sustainable Real Estate ETF	2.3	47	-18	3.1	-3.9
DON	WisdomTree U.S. MidCap Dividend Fund	2.3	38	-9	9.3	+2.4
IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	2.3	40	-11	5.5	-1.5
TILT	FlexShares Morningstar US Market Factor Tilt Index Fund	2.3	25	4	6.8	-0.2
BEDZ	AdvisorShares Hotel ETF	2.2	100	-71	3.0	-4.0
AFMC	First Trust Active Factor Mid Cap ETF	2.2	65	-36	9.2	+2.3
JRE	Janus Henderson U.S. Real Estate ETF	2.1	65	-36	1.8	-5.2
CVAR	Cultivar ETF	2.1	87	-58	6.6	-0.3
SRET	Global X SuperDividend REIT ETF	2.1	59	-30	8.7	+1.7
FDLS	Inspire Fidelis Multi Factor ETF	2.1	76	-47	6.6	-0.3
RITA	ETFB Green SRI REITs ETF	2.1	50	-21	2.7	-4.3
FPX	First Trust US Equity Opportunities ETF	2.1	61	-32	1.6	-5.4
AUSF	Global X Adaptive U.S. Factor ETF	2.1	27	2	10.3	+3.3
CRUZ	Defiance Hotel Airline and Cruise ETF	2.0	45	-16	3.6	-3.4
BOUT	Innovator IBD Breakout Opportunities ETF	2.0	81	-52	5.4	-1.5
SPRE	SP Funds S&P Global REIT Sharia ETF	2.0	55	-26	2.6	-4.3
SCDV	Bahl & Gaynor Small Cap Dividend ETF	2.0	70	-41	5.7	-1.3
BLCR	iShares Large Cap Core Active ETF	2.0	36	-7	4.9	-2.1
VBK	Vanguard Small-Cap Growth ETF	2.0	7	22	2.0	-5.0
OPTZ	Optimize Strategy Index ETF	1.9	50	-21	6.1	-0.9
RNSC	Furst Trust Small Cap US Equity Select ETF	1.8	60	-31	7.3	+0.4
TMFM	Motley Fool Mid-Cap Growth ETF	1.8	85	-56	4.2	-2.8
TMFS	Motley Fool Small-Cap Growth ETF	1.8	85	-56	3.6	-3.4
DEEP	Roundhill Acquirers Deep Value ETF	1.7	80	-51	22.1	+15.2
DSMC	Distillate Small/Mid Cash Flow ETF	1.7	55	-26	15.3	+8.3
FSMO	Fidelity Small-Mid Cap Opportunities ETF	1.7	60	-31	6.4	-0.5
VLU	SPDR S&P 1500 Value Tilt ETF	1.7	12	17	8.4	+1.4
KBWP	Invesco KBW Property & Casualty Insurance ETF	1.6	35	-6	6.8	-0.1
WBIY	WBI Power Factor High Dividend ETF	1.6	100	-71	14.8	+7.8
AIRR	First Trust RBA American Industrial Renaissance ETF	1.6	70	-41	7.0	+0.0
IQRA	IQ CBRE Real Assets ETF	1.5	65	-36	2.9	-4.1
FLDZ	RiverNorth Patriot ETF	1.5	75	-46	6.6	-0.3
DFAC	Dimensional U.S. Core Equity 2 ETF	1.4	17	12	7.0	+0.1
FDFF	Fidelity Disruptive Finance ETF	1.4	50	-21	4.7	-2.2
BBMC	JPMorgan BetaBuilders U.S. Mid Cap Equity ETF	1.4	7	22	7.0	+0.1
UDI	USCF Dividend Income Fund	1.4	65	-36	7.2	+0.2
SCHD	Schwab US Dividend Equity ETF	1.3	6	23	10.4	+3.4
AVSU	Avantis Responsible U.S. Equity ETF	1.3	15	14	7.2	+0.2
FINX	Global X FinTech ETF	1.3	68	-39	3.1	-3.8
TBG	TBG Dividend Focus ETF	1.3	59	-30	8.1	+1.1
SURE	AdvisorShares Insiders Advantage ETF	1.2	90	-61	11.2	+4.3
VUSE	Vident U.S. Equity Strategy ETF	1.2	50	-21	5.4	-1.5
DFSU	Dimensional US Sustainability Core 1 ETF	1.2	18	11	6.6	-0.4
PKW	Invesco Buyback Achievers ETF	1.1	62	-33	9.1	+2.2
AVUS	Avantis U.S. Equity ETF	1.1	15	14	7.5	+0.5
FFTY	Innovator IBD 50 ETF	1.1	80	-51	-2.7	-9.7
DCOR	Dimensional US Core Equity 1 ETF	1.1	14	15	6.6	-0.3
ACES	ALPS Clean Energy ETF	1.0	55	-26	-4.5	-11.5
QCLN	First Trust Nasdaq Clean Edge Green Energy Index Fund	1.0	58	-29	-3.9	-10.9
TAN	Invesco Solar ETF	1.0	67	-38	9.3	+2.3
BLLD	JPMorgan Sustainable Infrastructure ETF	1.0	49	-20	4.8	-2.2
RNWZ	TrueShares Eagle Global Renewable Energy Income ETF	1.0	75	-46	7.6	+0.6
DFUV	Dimensional US Marketwide Value ETF	1.0	22	7	9.6	+2.7
AMID	Argent Mid Cap ETF Argent Mid Cap ETF	1.0	52	-23	7.6	+0.6
PSP	Invesco Global Listed Private Equity ETF	1.0	106	-77	6.7	-0.3
QMOM	Alpha Architect U.S. Quantitative Momentum ETF	1.0	39	-10	4.4	-2.6
LBO	WHITEWOLF Publicly Listed Private Equity ETF	1.0	70	-41	9.4	+2.4
ERTH	Invesco MSCI Sustainable Future ETF	1.0	62	-33	2.7	-4.3
PBD	Invesco Global Clean Energy ETF	1.0	75	-46	0.5	-6.5
SAMT	Strategas Macro Thematic Opportunities ETF	1.0	65	-36	3.6	-3.4
DTD	WisdomTree U.S. Total Dividend Fund	1.0	28	1	6.9	-0.1
QDF	FlexShares Quality Dividend Index Fund	1.0	37	-8	6.9	-0.0
ABLD	Abacus FCF Real Assets Leaders ETF	1.0	69	-40	6.4	-0.6
DIV	Global X SuperDividend US ETF	1.0	45	-16	11.1	+4.1
LST	Leuthold Select Industries ETF	1.0	91	-62	6.9	-0.1
FOVL	iShares Focused Value Factor ETF	1.0	25	4	11.3	+4.4
BPAY	BlackRock Future Financial and Technology ETF	0.9	70	-41	8.7	+1.8
FNDB	Schwab Fundamental US Broad Market Index ETF	0.9	25	4	8.5	+1.5
TXS	Texas Capital Texas Equity Index ETF	0.9	49	-20	5.8	-1.2
SSPX	Janus Henderson U.S. Sustainable Equity ETF	0.9	55	-26	4.7	-2.3
CALF	Pacer US Small Cap Cash Cows 100 ETF	0.8	59	-30	13.8	+6.9
ZIG	Acquirers Fund	0.8	84	-55	23.3	+16.3
GVLU	Gotham 1000 Value ETF	0.8	50	-21	10.2	+3.3
MFUS	PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	0.8	29	0	7.4	+0.4
IPAY	ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund	0.8	75	-46	5.3	-1.7
PEY	Invesco High Yield Equity Dividend Achievers ETF	0.8	52	-23	11.0	+4.0
PRF	Invesco FTSE RAFI US 1000 ETF	0.8	39	-10	8.4	+1.4
VFMV	Vanguard U.S. Minimum Volatility ETF	0.8	13	16	5.9	-1.0
SPDG	SPDR Portfolio S&P Sector Neutral Dividend ETF	0.8	5	24	7.9	+0.9
JVAL	JPMorgan U.S. Value Factor ETF	0.8	12	17	9.6	+2.7
HLGE	Hartford Longevity Economy ETF	0.8	44	-15	5.4	-1.5
BLCN	Siren ETF Trust Siren Nasdaq NexGen Economy ETF	0.7	68	-39	3.2	-3.8
CGV	Conductor Global Equity Value ETF	0.7	130	-101	10.0	+3.1
VYM	Vanguard High Dividend Yield Index ETF	0.7	6	23	8.1	+1.1
JSTC	Adasina Social Justice All Cap Global ETF	0.7	89	-60	5.0	-2.0
KVLE	KraneShares Value Line Dynamic Dividend Equity Index ETF	0.7	56	-27	7.0	0.0
EQAL	Invesco Russell 1000 Equal Weight ETF	0.7	20	9	7.8	+0.9
ARB	AltShares Merger Arbitrage ETF	0.7	77	-48	4.1	-2.9
TMFX	Motley Fool Next Index ETF	0.7	50	-21	3.7	-3.3
SMOG	VanEck Low Carbon Energy ETF	0.6	61	-32	1.7	-5.3
IVRA	Invesco Real Assets ESG ETF	0.6	59	-30	3.9	-3.1
TRFM	AAM Transformers ETF	0.6	49	-20	2.2	-4.7
JPME	JPMorgan Diversified Return U.S. Mid Cap Equity ETF	0.6	24	5	8.4	+1.5
MMTM	SPDR S&P 1500 Momentum Tilt ETF	0.6	12	17	5.0	-1.9
VTHR	Vanguard Russell 3000 ETF	0.6	10	19	5.9	-1.1
VTI	Vanguard Total Stock Market ETF	0.6	3	26	5.9	-1.0
IWV	iShares Russell 3000 ETF	0.6	20	9	5.8	-1.2
SCHB	Schwab U.S. Broad Market ETF	0.6	3	26	6.1	-0.9
SPTM	SPDR Portfolio S&P 1500 Composite Stock Market ETF	0.6	3	26	6.4	-0.6
STXM	Strive Mid-Cap ETF	0.6	18	11	4.1	-2.9
ISRA	VanEck Israel ETF	0.6	59	-30	8.5	+1.5
ITEQ	BlueStar Israel Technology ETF	0.6	75	-46	2.4	-4.6
FDIG	Fidelity Crypto Industry and Digital Payments ETF	0.6	39	-10	-0.5	-7.5
ESGV	Vanguard ESG U.S. Stock ETF	0.6	9	20	5.6	-1.4
FDM	First Trust Dow Jones Select MicroCap Index Fund	0.5	60	-31	9.4	+2.5
DFAU	Dimensional US Core Equity Market ETF	0.5	12	17	6.4	-0.5
ITOT	iShares Core S&P Total U.S. Stock Market ETF	0.5	3	26	6.0	-1.0
BRNY	Burney U.S. Factor Rotation ETF Burney U.S. Factor Rotation	0.5	79	-50	6.0	-1.0
SFYX	SoFi Next 500 ETF	0.5	0	29	4.1	-2.9
INFL	Horizon Kinetics Inflation Beneficiaries ETF	0.5	85	-56	4.5	-2.4
FDL	First Trust Morningstar Dividend Leaders Index Fund	0.5	45	-16	10.2	+3.2
QDEF	FlexShares Quality Dividend Defensive Index Fund	0.5	37	-8	6.5	-0.4
ONEQ	Fidelity Nasdaq Composite Index ETF	0.5	21	8	4.8	-2.1
ONEY	SPDR Russell 1000 Yield Focus ETF	0.5	20	9	10.1	+3.1
AIVL	WisdomTree U.S. AI Enhanced Value Fund	0.5	38	-9	7.0	-0.0
FCPI	Fidelity Stocks for Inflation ETF	0.5	15	14	9.0	+2.0
TTAC	FCF US Quality ETF	0.5	59	-30	6.1	-0.9
FGD	First Trust Dow Jones Global Select Dividend Index Fund	0.5	56	-27	13.6	+6.6
SCHM	Schwab U.S. Mid-Cap ETF	0.5	4	25	7.6	+0.6
BLOK	Amplify Transformational Data Sharing ETF	0.5	75	-46	0.5	-6.5
LQPE	PEO AlphaQuest Thematic PE ETF	0.4	125	-96	7.6	+0.6
DFUS	Dimensional U.S. Equity ETF	0.4	9	20	6.1	-0.8
FPXE	First Trust IPOX Europe Equity Opportunities ETF	0.4	70	-41	5.1	-1.8
CCSO	Carbon Collective Climate Solutions US Equity ETF	0.4	35	-6	2.1	-4.8
JPUS	JPMorgan Diversified Return U.S. Equity ETF	0.4	18	11	8.6	+1.6
IDGT	iShares U.S. Digital Infrastructure and Real Estate ETF	0.4	41	-12	3.1	-3.8
SRVR	Pacer Data & Infrastructure Real Estate ETF	0.4	55	-26	1.2	-5.8
DTCR	Global X Data Center & Digital Infrastructure ETF	0.4	50	-21	2.0	-5.0
PAWZ	ProShares Pet Care ETF	0.4	50	-21	4.2	-2.8
SMMD	iShares Russell 2500 ETF	0.4	15	14	7.0	+0.1
HDUS	Hartford Disciplined US Equity ETF	0.4	19	10	7.0	+0.1
FMDE	Fidelity Enhanced Mid Cap ETF	0.3	23	6	6.6	-0.4
IQSM	IQ Candriam U.S. Mid Cap Equity ETF	0.3	15	14	6.6	-0.4
AGNG	Global X Aging Population ETF	0.3	50	-21	4.5	-2.5
FLQM	Franklin U.S. Mid Cap Multifactor Index ETF	0.3	30	-1	8.8	+1.9
BCDF	Horizon Kinetics Blockchain Development ETF	0.3	85	-56	4.8	-2.2
BKMC	BNY Mellon US Mid Cap Core Equity ETF	0.3	4	25	6.9	-0.0
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	0.3	9	20	6.6	-0.3
ROUS	Hartford Multifactor US Equity ETF	0.3	19	10	8.6	+1.6
HKND	Humankind US Stock ETF	0.3	11	18	8.2	+1.2
MILN	Global X Millennial Consumer ETF	0.3	50	-21	3.6	-3.4
SDY	SPDR S&P Dividend ETF	0.3	35	-6	6.7	-0.3
IYF	iShares U.S. Financials ETF	0.3	40	-11	7.9	+1.0
VT	Vanguard Total World Stock ETF	0.3	7	22	7.1	+0.1
KOMP	SPDR S&P Kensho New Economies Composite ETF	0.3	20	9	4.2	-2.7
FLOW	Global X U.S. Cash Flow Kings 100 ETF	0.3	25	4	11.3	+4.3
IWS	iShares Russell Mid-Cap Value ETF	0.3	23	6	7.3	+0.4
FELV	Fidelity Enhanced Large Cap Value ETF	0.3	18	11	8.0	+1.0
FMET	Fidelity Metaverse ETF	0.2	39	-10	5.8	-1.2
VERS	ProShares Metaverse ETF	0.2	58	-29	0.2	-6.7
PFM	Invesco Dividend Achievers ETF	0.2	53	-24	5.9	-1.1
FNDX	Schwab Fundamental US Large Co. Index ETF	0.2	25	4	8.7	+1.7
HDV	iShares Core High Dividend ETF	0.2	8	21	7.3	+0.3
DIVB	iShares Core Dividend ETF	0.2	5	24	8.5	+1.6
IWR	iShares Russell Midcap ETF	0.2	19	10	6.5	-0.5
FLQL	Franklin LibertyQ U.S. Equity ETF	0.2	15	14	6.9	-0.0
FELC	Fidelity Enhanced Large Cap Core ETF	0.2	18	11	6.4	-0.6
DGRO	iShares Core Dividend Growth ETF	0.2	8	21	7.3	+0.3
ONEV	SPDR Russell 1000 Low Volatility Focus ETF	0.2	20	9	8.0	+1.1
ANEW	ProShares MSCI Transformational Changes ETF	0.2	45	-16	7.8	+0.9
AVLV	Avantis U.S. Large Cap Value ETF	0.2	15	14	9.2	+2.3
IUS	Invesco RAFI Strategic US ETF	0.2	19	10	8.1	+1.1
ONEO	SPDR Russell 1000 Momentum Focus ETF	0.2	20	9	8.0	+1.1
QGRO	American Century U.S. Quality Growth ETF	0.2	29	0	4.4	-2.6
GINN	Goldman Sachs Innovate Equity ETF	0.2	52	-23	5.0	-2.0
VIG	Vanguard Dividend Appreciation ETF	0.2	6	23	6.6	-0.4
TMDV	ProShares Russell US Dividend Growers ETF	0.2	35	-6	5.0	-2.0
JHMM	John Hancock Multifactor Mid Cap ETF	0.2	42	-13	7.3	+0.4
DEUS	Xtrackers Russell US Multifactor ETF	0.1	17	12	8.0	+1.1
FDMO	Fidelity Momentum Factor ETF	0.1	15	14	4.8	-2.2
IYG	iShares US Financial Services ETF	0.1	40	-11	7.3	+0.3
LCTU	BlackRock U.S. Carbon Transition Readiness ETF	0.1	14	15	6.0	-1.0
OALC	OneAscent Large Cap Core ETF	0.1	86	-57	5.3	-1.6
DGRW	WisdomTree US Quality Dividend Growth Fund	0.1	28	1	6.3	-0.6
CVLC	Calvert US Large-Cap Core Responsible Index ETF	0.1	15	14	5.7	-1.3
VONV	Vanguard Russell 1000 Value ETF	0.1	8	21	7.6	+0.7
IWD	iShares Russell 1000 Value ETF	0.1	19	10	7.5	+0.5
JMOM	JPMorgan U.S. Momentum Factor ETF	0.1	12	17	5.6	-1.4
GVUS	Marketbeta Russell 1000 Value Equity ETF	0.1	12	17	7.5	+0.6
REVS	Columbia Research Enhanced Value ETF	0.1	19	10	8.5	+1.6
STXV	Strive 1000 Value ETF	0.1	18	11	8.8	+1.8
SCHK	Schwab 1000 Index ETF	0.1	5	24	6.2	-0.8
DSI	iShares MSCI KLD 400 Social ETF	0.1	25	4	5.8	-1.2
TECB	iShares U.S. Tech Breakthrough Multisector ETF	0.1	40	-11	4.6	-2.4
PTL	Inspire 500 ETF	0.1	9	20	6.1	-0.9
TMFE	Motley Fool Capital Efficiency 100 Index ETF	0.0	50	-21	4.8	-2.1
VONE	Vanguard Russell 1000 ETF	0.0	8	21	6.1	-0.8
IWB	iShares Russell 1000 ETF	0.0	15	14	6.0	-0.9
RECS	Columbia Research Enhanced Core ETF	0.0	15	14	6.9	-0.1
GUSA	Goldman Sachs MarketBeta U.S. 1000 Equity ETF	0.0	11	18	6.1	-0.8
IYY	iShares Dow Jones U.S. ETF	0.0	20	9	6.0	-1.0
JQUA	JPMorgan U.S. Quality Factor ETF	0.0	12	17	6.8	-0.1
JUST	Goldman Sachs JUST U.S. Large Cap Equity ETF	0.0	20	9	6.0	-1.0
NFRA	FlexShares STOXX Global Broad Infrastructure Index Fund	0.0	47	-18	6.0	-1.0
JCTR	JPMorgan Carbon Transition U.S. Equity ETF	0.0	15	14	3.1	-3.8

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%.

	2020	2021	2022	2023	2024	2025E	2026E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

	2024	2025E	2026E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Forward multiple:	Invesco S&P SmallCap Financials ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

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