Invesco S&P SmallCap Information Technology ETF
ALTAR
Score™
5.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.4x P/Sales
ratio
1.2x
P/BV
ratio
2.3x Div.
yield
0.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P Small Cap Information Technology is based on the S&P SmallCap 600 Capped Technology 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) $344
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 79
Wgt avg mkt cap (mns) $1,907
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 47.3%
Small cap (<$2bn) 52.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
VIAVI SOLUTIONS INC. 3.1 %
POWER INTEGRATIONS INC 2.9 %
QUALYS INC 2.8 %
ITRON INC 2.8 %
BROOKS AUTOMATION INC 2.8 %
ANIXTER INTERNATIONAL INC 2.7 %
ADVANCED ENERGY INDUSTRIES 2.7 %
EXLSERVICE HOLDINGS INC 2.4 %
FABRINET 2.2 %
MANTECH INTERNATIONAL CORP-A 2.0 %
Total 26.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
CAYMAN ISLANDS 2.2 %
PUERTO RICO 1.9 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-2.6% 20.8% 14.3% -- 14.4%

Market Correlations
versus... Beta R-squared
S&P500 1.22 64%
MSCI EAFE 1.13 46%
MSCI Emg. Mkts. 0.73 33%

Technical Indicators
Recent close $95.50
30d moving avg. $97.03
Annualized volatility 18.5%
Short interest (ETF) 1.2%
Short interest (Underlying) 5.7%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.3%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $891

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P SmallCap Information Technology ETF ETF based on the alternatives' overlap in portfolio holdings with PSCT. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PSCT Expense: 29 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PSCT
Ticker Fund
Name
Overlap1
vs PSCT
(%)
Expense
ratio
(bp)
Savings
vs PSCT
(bp)
ALTAR
Score™
(%)
ALTAR
vs PSCT
(%)
RZG Invesco S&P Smallcap 600 Pure Growth 21.6 35 -6 5.9 +0.5
IJT iShares S&P 600 SmallCap Growth 20.1 25 4 4.9 -0.5
SLYG SPDR S&P600 Small Cap Growth 20.0 15 14 5.0 -0.4
VIOG Vanguard S&P Small-Cap 600 Growth 19.5 16 13 4.8 -0.6
XSHQ Invesco S&P SmallCap Quality Portfolio 18.0 29 0 5.6 +0.2
CALF Pacer US Small Cap Cash Cows 100 16.7 59 -30 10.3 +4.8
JSML Janus Small Cap Growth Alpha 15.3 35 -6 6.7 +1.3
PXSG Invesco Fundamental Pure Small Growth 15.2 39 -10 4.7 -0.7
IJR iShares Core S&P Small-Cap 14.0 7 22 6.1 +0.7
SLY SPDR S&P 600 Small Cap 14.0 15 14 6.0 +0.6
SPSM SPDR Portfolio Small Cap 14.0 5 24 6.1 +0.7
VIOO Vanguard S&P Small-Cap 600 13.7 10 19 6.0 +0.5
XSW SPDR S&P Software & Services 13.5 35 -6 3.6 -1.9
EWSC Invesco S&P Small Cap 600 Equal Weight 13.3 40 -11 5.4 -0.1
XTH SPDR S&P Technology Hardware 13.0 35 -6 5.8 +0.4
SCAP AdvisorShares Cornerstone Small Cap 12.6 90 -61 3.8 -1.7
CSML IQ Chaikin U.S. Small Cap 11.7 35 -6 8.1 +2.6
ROGS Lattice Global Small Cap Strategy 11.2 34 -5 7.5 +2.0
RWJ Invesco S&P SmallCap 600 Revenue ETF 11.1 39 -10 6.5 +1.1
TPSC Timothy Plan US Small Cap Core 9.1 52 -23 6.9 +1.5

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

Content on this tab for subscribers only

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 Information Technology ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.8 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.56
 
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.