Invesco S&P Small Cap Health Care
ALTAR
Score™
2.9% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
45.8x P/Sales
ratio
1.2x
P/BV
ratio
3.2x Div.
yield
0.2%


  • 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) $448
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 77
Wgt avg mkt cap (mns) $1,860
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 42.9%
Small cap (<$2bn) 57.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MEDICINES COMPANY 4.3 %
ARROWHEAD PHARMACEUTICALS, INC. 4.2 %
LHC GROUP INC 4.0 %
NEOGEN CORP 3.6 %
CONMED CORP 3.3 %
OMNICELL INC 3.3 %
AMN HEALTHCARE SERVICES INC 3.0 %
INTEGER HOLDINGS CORPORATION 2.6 %
HMS HOLDINGS CORP 2.5 %
EMERGENT BIOSOLUTIONS INC 2.5 %
Total 33.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.6 %
IRELAND 0.9 %









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.
9.1% -3.9% 14.9% -- 18.0%

Market Correlations
versus... Beta R-squared
S&P500 1.36 64%
MSCI EAFE 1.00 29%
MSCI Emg. Mkts. 0.64 20%

Technical Indicators
Recent close $117.77
30d moving avg. $115.70
Annualized volatility 20.6%
Short interest (ETF) 0.5%
Short interest (Underlying) 9.1%
Relative strength (RSI) 62

Liquidity measures
Avg. volume (thou.) 17
Turnover 0.5%
Bid/Ask (% of price) 0.23%
ADV underlying (mns) $1,047

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P Small Cap Health Care 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™: 2.9%


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
(%)
RZG Invesco S&P Smallcap 600 Pure Growth 22.3 35 -6 4.2 +1.3
IJT iShares S&P 600 SmallCap Growth 20.3 25 4 4.6 +1.7
SLYG SPDR S&P600 Small Cap Growth 20.3 15 14 4.7 +1.8
XHE SPDR S&P Health Care Equipment 19.5 35 -6 2.2 -0.7
VIOG Vanguard S&P Small-Cap 600 Growth 19.5 20 9 4.6 +1.7
XHS SPDR S&P Health Care Services 18.8 35 -6 6.5 +3.6
PTH Invesco DWA Healthcare Momentum 17.0 60 -31 -1.4 -4.3
PXSG Invesco Fundamental Pure Small Growth 16.1 39 -10 4.7 +1.8
HTEC Robo Global Healthcare Technology and Innovation 14.0 68 -39 0.0 -2.9
JSML Janus Small Cap Growth Alpha 12.7 35 -6 6.9 +4.0
PBE Invesco Dynamic Biotechnology & Genome 12.6 57 -28 0.0 -2.9
EWSC Invesco S&P Small Cap 600 Equal Weight 12.4 40 -11 5.7 +2.8
IJR iShares Core S&P Small-Cap 12.4 7 22 6.1 +3.2
SLY SPDR S&P 600 Small Cap 12.3 15 14 6.1 +3.2
VIOO Vanguard S&P Small-Cap 600 11.8 15 14 5.9 +3.0
XBI SPDR S&P Biotech ETF 11.5 35 -6 -5.1 -8.0
FTXH First Trust Nasdaq Pharmaceuticals 11.3 60 -31 5.6 +2.7
SCAP AdvisorShares Cornerstone Small Cap 10.3 90 -61 3.9 +1.0
CALF Pacer US Small Cap Cash Cows 100 9.7 59 -30 11.6 +8.7
PJP Invesco Dynamic Pharmaceuticals 9.6 56 -27 9.9 +7.0

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
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 Small Cap Health Care
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 9.5 %
Divided by: Fwd. P/BV 3.0 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 2.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.55
 
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.