Invesco S&P SmallCap Health Care ETF
ALTAR
Score™
2.8% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
45.0x P/Sales
ratio
1.6x
P/BV
ratio
4.3x Div.
yield
0.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P SmallCap Health Care Portfolio is an exchange traded fund incorporated in the USA. The Fund's objective is to seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of the S&P SmallCap 600 Capped Health Care Index.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.invescopowershares.com
Inception date Apr 07, 2010
Assets (mns) $522
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 71
Wgt avg mkt cap (mns) $2,343
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 56.3%
Small cap (<$2bn) 42.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEOGENOMICS INC 5.4 %
OMNICELL INC 4.5 %
ENSIGN GROUP INC/THE 3.7 %
GLAUKOS CORP 3.4 %
COVETRUS, INC. 3.3 %
AMN HEALTHCARE SERVICES INC 3.0 %
CONMED CORP 3.0 %
HMS HOLDINGS CORP 2.8 %
ACCRETIVE HEALTH INC 2.7 %
SELECT MEDICAL HOLDINGS CORP 2.6 %
Total 34.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.6 %
IRELAND 1.4 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
31.5% 31.5% 18.8% 20.1% 20.0%

Market Correlations
versus... Beta R-squared
S&P500 1.16 74%
MSCI EAFE 1.04 59%
MSCI Emg. Mkts. 0.84 49%

Technical Indicators
Recent close $185.85
30d moving avg. $173.06
Annualized volatility 25.4%
Short interest (ETF) 0.2%
Short interest (Underlying) 9.1%
Relative strength (RSI) 77

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.5%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $1,079

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Invesco S&P SmallCap Health Care ETF ETF based on the alternatives' overlap in portfolio holdings with PSCH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PSCH Expense: 29 bp ALTAR Score™: 2.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PSCH
Ticker Fund
Name
Overlap1
vs PSCH
(%)
Expense
ratio
(bp)
Savings
vs PSCH
(bp)
ALTAR
Score™
(%)
ALTAR
vs PSCH
(%)
XHS SPDR S&P Health Care Services ETF 28.6 35 -6 3.5 +0.8
RZG Invesco S&P Smallcap 600 Pure Growth ETF 19.4 35 -6 3.7 +1.0
XHE SPDR S&P Health Care Equipment ETF 18.5 35 -6 0.5 -2.2
IJT iShares S&P Small-Cap 600 Growth ETF 18.0 18 11 4.3 +1.6
SLYG SPDR S&P 600 Small Cap Growth ETF 18.0 15 14 4.4 +1.6
VIOG Vanguard S&P Small-Cap 600 Growth ETF 17.8 16 13 4.3 +1.5
EDOC Global X Telemedicine & Digital Health ETF 15.4 68 -39 1.0 -1.8
SSLY Syntax Stratified SmallCap ETF 14.6 30 -1 4.9 +2.1
XSMO Invesco S&P SmallCap Momentum ETF 14.5 39 -10 3.6 +0.8
JSML Janus Henderson Small Cap Growth Alpha ETF 13.6 30 -1 5.8 +3.0
SIXS 6 Meridian Small Cap Equity ETF 12.8 97 -68 7.1 +4.4
XJR iShares ESG Screened S&P Small-Cap ETF 12.7 12 17 5.7 +3.0
VIOO Vanguard S&P Small-Cap 600 ETF 12.2 10 19 5.5 +2.7
SLY SPDR S&P 600 Small Cap ETF 12.2 15 14 5.5 +2.8
SPSM SPDR Portfolio Small Cap ETF 12.2 5 24 5.7 +2.9
IJR iShares Core S&P Small Cap ETF 12.2 6 23 5.6 +2.8
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 12.1 40 -11 5.1 +2.3
ROSC Hartford Multifactor Small Cap ETF 11.7 34 -5 6.5 +3.7
SQLV Legg Mason Small-Cap Quality Value 11.6 62 -33 4.1 +1.3
HTEC ROBO Global Healthcare Technology & Innovation ETF 11.5 68 -39 0.8 -1.9
AFSM First Trust Active Factor Small Cap ETF 10.5 77 -48 4.3 +1.5
PJP Invesco Dynamic Pharmaceuticals ETF 9.8 56 -27 8.9 +6.1
FYC First Trust Small Cap Growth AlphaDEX Fund 9.7 70 -41 1.7 -1.1
XPH SPDR S&P Pharmaceuticals ETF 9.1 35 -6 2.9 +0.1
XSLV Invesco S&P SmallCap Low Volatility ETF 8.9 25 4 4.6 +1.8
RWJ Invesco S&P SmallCap 600 Revenue ETF 8.3 39 -10 5.4 +2.6
SIXL 6 Meridian Low Beta Equity Strategy ETF 8.2 84 -55 4.1 +1.3
RNSC Small Cap US Equity Select ETF 8.2 60 -31 6.0 +3.2
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 7.6 30 -1 6.0 +3.2
CALF Pacer US Small Cap Cash Cows 100 ETF 7.4 59 -30 8.8 +6.0
VIOV Vanguard S&P Small-Cap 600 Value ETF 7.4 15 14 6.9 +4.1
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 7.2 24 5 4.9 +2.1
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 7.0 29 0 -0.3 -3.0
PTH Invesco DWA Healthcare Momentum ETF 7.0 60 -31 -2.3 -5.1
OLD The Long-Term Care ETF 6.8 30 -1 5.3 +2.5
ACTV LeaderShares Activist Leaders ETF 6.8 75 -46 5.7 +2.9
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 6.7 35 -6 6.0 +3.2
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 6.7 35 -6 6.0 +3.2
BTEC Principal Healthcare Innovators Index ETF 6.6 42 -13 -2.5 -5.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 6.6 20 9 3.8 +1.0
TPSC Timothy Plan US Small Cap Core ETF 6.6 52 -23 5.6 +2.9
IHF iShares U.S. Healthcare Providers ETF 6.5 42 -13 6.5 +3.7
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 6.4 29 0 4.2 +1.4
IJS iShares S&P Small-cap 600 Value ETF 6.3 18 11 6.8 +4.0
SLYV SPDR S&P 600 Small Cap Value ETF 6.3 15 14 6.9 +4.1
ISMD Inspire Small/Mid Cap Impact ETF 6.2 60 -31 4.3 +1.5
SBIO ALPS Medical Breakthroughs ETF 6.1 50 -21 -0.5 -3.3
VTWG Vanguard Russell 2000 Growth Index Fund 5.9 15 14 0.1 -2.7
IWO iShares Russell 2000 Growth ETF 5.9 24 5 -0.1 -2.9
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 5.6 35 -6 4.9 +2.1
IBBJ Defiance Nasdaq Junior Biotechnology ETF 5.6 45 -16 -0.6 -3.4
PSC Principal U.S. Small Cap Index ETF 5.3 38 -9 4.6 +1.8
DWAS Invesco DWA SmallCap Momentum ETF 5.3 60 -31 -1.2 -4.0
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 5.2 9 20 3.3 +0.5
VTWO Vanguard Russell 2000 Index Fund 5.2 10 19 2.6 -0.1
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 5.1 12 17 6.0 +3.2
FYX First Trust Small Cap Core AlphaDEX Fund 4.9 63 -34 5.4 +2.6
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 4.8 39 -10 3.9 +1.2
STSB iShares Factors US Small Blend Style ETF 4.6 35 -6 2.9 +0.1
CSML IQ Chaikin U.S. Small Cap ETF 4.6 35 -6 2.8 +0.0
PAWZ ProShares Pet Care ETF 4.6 50 -21 2.3 -0.5
FTXH First Trust Nasdaq Pharmaceuticals ETF 4.5 60 -31 4.4 +1.7
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 4.3 20 9 3.7 +0.9
EES WisdomTree SmallCap Earnings Fund 4.3 38 -9 7.5 +4.8
XBI SPDR S&P BIOTECH ETF 4.3 35 -6 -2.3 -5.1
IWM iShares Russell 2000 ETF 4.2 19 10 2.5 -0.3
PBE Invesco Dynamic Biotechnology & Genome ETF 4.2 58 -29 -1.6 -4.4
IWC iShares Micro-Cap ETF 4.2 60 -31 -3.2 -5.9
GNOM Global X Genomics & Biotechnology ETF 4.1 50 -21 -3.0 -5.8
CSD Invesco S&P Spin-Off ETF 4.0 62 -33 4.0 +1.2
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 4.0 80 -51 4.7 +1.9
XSHQ Invesco S&P SmallCap Quality ETF 3.9 29 0 5.3 +2.5
CCON Direxion Connected Consumer ETF 3.9 45 -16 1.2 -1.6
NIFE Direxion Fallen Knives ETF 3.9 50 -21 4.2 +1.4
FSMD Fidelity Small-Mid Factor ETF 3.9 29 0 5.2 +2.4
IHE iShares U.S. Pharmaceuticals ETF 3.8 42 -13 5.9 +3.2
XSVM Invesco S&P SmallCap Value with Momentum ETF 3.8 39 -10 6.8 +4.0
LNGR Global X Longevity Thematic ETF 3.6 50 -21 2.9 +0.1
NUSC Nuveen ESG Small-Cap ETF 3.6 40 -11 3.9 +1.2
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 3.5 30 -1 4.9 +2.1
OSCV Opus Small Cap Value Plus ETF 3.5 79 -50 4.5 +1.7
JKK iShares Morningstar Small-Cap Growth ETF 3.5 30 -1 0.6 -2.2
IUSS Invesco Strategic US Small Company ETF 3.3 23 6 3.6 +0.9
GERM ETFMG Treatments Testing and Advancements ETF 3.2 68 -39 -2.4 -5.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 3.1 17 12 4.0 +1.2
SCHA Schwab U.S. Small-Cap ETF 3.0 4 25 3.6 +0.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 3.0 39 -10 3.4 +0.7
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 2.9 29 0 4.9 +2.1
VAMO Cambria Value & Momentum ETF 2.7 63 -34 5.4 +2.6
PBSM Invesco PureBeta MSCI USA Small Cap ETF 2.5 6 23 4.0 +1.2
FAD First Trust Multi Cap Growth AlphaDEX Fund 2.4 66 -37 1.8 -1.0
CNCR Loncar Cancer Immunotherapy ETF 2.4 79 -50 -2.1 -4.9
KSCD KFA Small Cap Quality Dividend Index ETF 2.4 51 -22 5.2 +2.4
IWN iShares Russell 2000 Value ETF 2.3 24 5 5.0 +2.3
DWMC AdvisorShares Dorsey Wright Micro-Cap ETF 2.2 132 -103 -2.7 -5.5
AVUV Avantis U.S. Small Cap Value ETF 2.2 25 4 6.3 +3.5
ROBO Robo Global Robotics & Automation Index ETF 2.2 95 -66 2.3 -0.5
VTWV Vanguard Russell 2000 Value Index Fund 2.2 15 14 5.1 +2.3

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 Health Care ETF
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 11.8 %
Divided by: Fwd. P/BV 3.9 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 2.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 CATEGORY
AVERAGE
1.49
 
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.