Invesco S&P SmallCap Materials ETF
ALTAR
Score™
9.7% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
44.5x P/Sales
ratio
0.7x
P/BV
ratio
1.5x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P Small Cap Materials is based on the S&P SmallCap 600 Capped Materials 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) $9
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 37
Wgt avg mkt cap (mns) $1,493
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 24.1%
Small cap (<$2bn) 75.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BALCHEM CORP 10.6 %
QUAKER CHEMICAL CORP 7.2 %
STEPAN CO 6.3 %
H.B. FULLER CO. 6.2 %
INNOSPEC INC 6.2 %
CLEVELAND-CLIFFS INC 5.8 %
ARCONIC CORP. 4.6 %
BOISE CASCADE CO 4.4 %
KAISER ALUMINUM CORP 3.8 %
GCP APPLIED TECHNOLOGIES, INC. 3.6 %
Total 58.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.5 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-21.4% -6.6% -0.7% 5.3% 4.4%

Market Correlations
versus... Beta R-squared
S&P500 1.53 78%
MSCI EAFE 1.62 75%
MSCI Emg. Mkts. 1.15 58%

Technical Indicators
Recent close $37.73
30d moving avg. $33.82
Annualized volatility 29.4%
Short interest (ETF) 0.3%
Short interest (Underlying) 4.6%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.4%
Bid/Ask (% of price) 0.85%
ADV underlying (mns) $420

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco S&P SmallCap Materials ETF ETF based on the alternatives' overlap in portfolio holdings with PSCM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PSCM Expense: 29 bp ALTAR Score™: 9.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PSCM
Ticker Fund
Name
Overlap1
vs PSCM
(%)
Expense
ratio
(bp)
Savings
vs PSCM
(bp)
ALTAR
Score™
(%)
ALTAR
vs PSCM
(%)
PYZ Invesco DWA Basic Materials Momentum ETF 14.0 60 -31 6.1 -3.6
XME SPDR S&P Metals & Mining ETF 13.8 35 -6 7.5 -2.2
CALF Pacer US Small Cap Cash Cows 100 ETF 13.0 59 -30 11.6 +1.9
KSCD KFA Small Cap Quality Dividend Index ETF 10.5 51 -22 6.3 -3.4
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 8.1 39 -10 6.3 -3.4
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 7.7 30 -1 11.9 +2.2
SMDV ProShares Russell 2000 Dividend Growers ETF 7.5 40 -11 7.1 -2.6
XSHQ Invesco S&P SmallCap Quality ETF 7.3 29 0 6.1 -3.6
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 7.1 35 -6 9.6 -0.1
SLYV SPDR S&P 600 Small Cap Value ETF 6.3 15 14 9.3 -0.4
IJS iShares S&P Small-cap 600 Value ETF 6.3 25 4 9.2 -0.5
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 6.3 40 -11 6.5 -3.2
RZV Invesco S&P Smallcap 600 Pure Value ETF 6.3 35 -6 9.4 -0.3
VIOV Vanguard S&P Small-Cap 600 Value ETF 6.3 15 14 9.2 -0.5
RWJ Invesco S&P SmallCap 600 Revenue ETF 5.5 39 -10 6.9 -2.8
IFRA iShares U.S. Infrastructure ETF 5.2 40 -11 5.7 -4.0
XSVM Invesco S&P SmallCap Value with Momentum ETF 5.0 39 -10 10.4 +0.7
SLY SPDR S&P 600 Small Cap ETF 4.9 15 14 7.1 -2.6
SPSM SPDR Portfolio Small Cap ETF 4.9 5 24 7.2 -2.5
IJR iShares Core S&P Small Cap ETF 4.9 7 22 7.2 -2.6
VIOO Vanguard S&P Small-Cap 600 ETF 4.8 10 19 7.1 -2.6
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 4.5 29 0 6.0 -3.7
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 4.4 38 -9 9.1 -0.6
SLX VanEck Vectors Steel ETF 4.4 56 -27 16.0 +6.3
EES WisdomTree SmallCap Earnings Fund 4.1 38 -9 11.5 +1.8
XSLV Invesco S&P SmallCap Low Volatility ETF 4.1 25 4 6.0 -3.7
CWS AdvisorShares Focused Equity ETF 4.0 85 -56 5.4 -4.3
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 4.0 60 -31 8.5 -1.2
VAW Vanguard Materials Index Fund 3.9 10 19 6.3 -3.4
AVUV Avantis U.S. Small Cap Value ETF 3.8 25 4 9.1 -0.6
IJT iShares S&P Small-Cap 600 Growth ETF 3.8 25 4 5.2 -4.5
SLYG SPDR S&P 600 Small Cap Growth ETF 3.8 15 14 5.4 -4.3
FMAT Fidelity MSCI Materials Index ETF 3.8 8 21 6.2 -3.5
VIOG Vanguard S&P Small-Cap 600 Growth ETF 3.7 16 13 5.3 -4.4
BUY USCF SummerHaven SHPEI Index Fund 3.7 80 -51 10.6 +0.9
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 3.7 35 -6 8.4 -1.3
SQLV Legg Mason Small-Cap Quality Value 3.7 62 -33 7.0 -2.7
FYT First Trust Small Cap Value AlphaDEX Fund 3.6 72 -43 9.4 -0.4
TPSC Timothy Plan US Small Cap Core ETF 3.6 52 -23 7.9 -1.8
BUYN USCF SummerHaven SHPEN Index Fund 3.3 80 -51 9.6 -0.1
LIT Global X Lithium & Battery Tech ETF 3.3 75 -46 3.6 -6.1
BATT Amplify Advanced Battery Metals & Materials ETF 3.3 72 -43 3.0 -6.7
REMX VanEck Vectors Rare Earth/Strategic Metals ETF 3.3 59 -30 2.2 -7.5
FDM First Trust Dow Jones Select Microcap Index Fund 3.2 60 -31 7.9 -1.8
TMDV ProShares Russell US Dividend Growers ETF 3.2 35 -6 5.3 -4.4
STLV iShares Factors US Value Style ETF 3.2 25 4 8.1 -1.6
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 3.2 29 0 10.3 +0.6
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 2.9 80 -51 5.5 -4.2
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 2.9 35 -6 8.4 -1.3
JSML Janus Henderson Small Cap Growth Alpha ETF 2.9 35 -6 6.2 -3.5
PBW Invesco WilderHill Clean Energy ETF 2.8 70 -41 -4.7 -14.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 2.6 39 -10 4.4 -5.3
CUT Invesco MSCI Global Timber ETF 2.6 55 -26 9.4 -0.3
FNDA Schwab Fundamental U.S. Small Co. Index ETF 2.6 25 4 6.5 -3.2
ISMD Inspire Small/Mid Cap Impact ETF 2.5 61 -32 6.9 -2.8
CSML IQ Chaikin U.S. Small Cap ETF 2.5 35 -6 4.7 -5.0
DES WisdomTree U.S. SmallCap Dividend Fund 2.4 38 -9 8.7 -1.0
KOL VanEck Vectors Coal ETF 2.4 60 -31 19.8 +10.1
RNSC Small Cap US Equity Select ETF 2.4 60 -31 7.7 -2.0
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 2.2 29 0 1.9 -7.8
FYX First Trust Small Cap Core AlphaDEX Fund 2.2 63 -34 6.7 -3.1
MJ ETFMG Alternative Harvest ETF 2.2 75 -46 -4.9 -14.6
PXI Invesco DWA Energy Momentum ETF 2.1 60 -31 4.1 -5.6
IUSS Invesco Strategic US Small Company ETF 2.0 23 6 6.0 -3.7
PAVE Global X U.S. Infrastructure Development ETF 2.0 47 -18 6.0 -3.7
IWN iShares Russell 2000 Value ETF 1.9 24 5 7.3 -2.4
PRNT The 3D Printing ETF 1.9 66 -37 1.1 -8.6
VTWV Vanguard Russell 2000 Value Index Fund 1.9 15 14 7.4 -2.4
RZG Invesco S&P Smallcap 600 Pure Growth ETF 1.8 35 -6 6.4 -3.3
ROGS Hartford Multifactor Global Small Cap ETF 1.8 34 -5 8.1 -1.6
SYLD Cambria Shareholder Yield ETF 1.8 59 -30 9.2 -0.5
NUSC Nuveen ESG Small-Cap ETF 1.7 40 -11 5.0 -4.7
IWM iShares Russell 2000 ETF 1.7 19 10 3.7 -6.0
VAMO Cambria Value & Momentum ETF 1.6 64 -35 7.4 -2.4
AFSM First Trust Active Factor Small Cap ETF 1.6 75 -46 5.8 -3.9
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 1.6 20 9 6.2 -3.6
VTWO Vanguard Russell 2000 Index Fund 1.6 10 19 3.7 -6.0
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 1.5 35 -6 5.3 -4.4
VFMF Vanguard U.S. Multifactor ETF 1.5 18 11 7.4 -2.3
DWMC AdvisorShares Dorsey Wright Micro-Cap ETF 1.5 125 -96 -2.9 -12.6
DWAS Invesco DWA SmallCap Momentum ETF 1.5 60 -31 -1.1 -10.8
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 1.4 24 5 7.7 -2.0
IWO iShares Russell 2000 Growth ETF 1.4 24 5 0.8 -9.0
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 1.4 48 -19 6.4 -3.3
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 1.4 12 17 8.2 -1.5
VTWG Vanguard Russell 2000 Growth Index Fund 1.4 15 14 0.8 -8.9
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 1.3 30 -1 7.7 -2.0
PSC Principal U.S. Small Cap Index ETF 1.3 38 -9 7.2 -2.5
PXSG Invesco S&P SmallCap Momentum ETF 1.3 39 -10 5.3 -4.5
VBR Vanguard Small Cap Value Index Fund 1.3 7 22 8.5 -1.2
PICK iShares MSCI Global Metals & Mining Producers ETF 1.3 39 -10 7.8 -1.9
IWC iShares Micro-Cap ETF 1.2 60 -31 -4.1 -13.8
SCHA Schwab U.S. Small-Cap ETF 1.2 4 25 4.9 -4.8
VFLQ Vanguard U.S. Liquidity Factor ETF 1.1 13 16 3.5 -6.2
SOIL Global X Fertilizers/Potash ETF 1.1 69 -40 5.5 -4.3
VRAI Virtus Real Asset Income ETF 1.1 55 -26 11.2 +1.5
PBSM Invesco PureBeta MSCI USA Small Cap ETF 1.0 6 23 5.2 -4.6
FVL First Trust Value Line 100 Exchange-Traded Fund 1.0 70 -41 4.9 -4.8
SDY SPDR S&P Dividend ETF 1.0 35 -6 7.1 -2.6

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 Materials 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 14.8 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 9.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.53
 
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.