ETF Research Center

Invesco S&P SmallCap Information Technology ETF

ALTAR
Score™

5.0%

Recommen-
dation

UNDERWEIGHT

2025E 2026E
P/E ratio	25.3x	P/Sales ratio	1.7x
P/BV ratio	2.7x	Div. yield	0.8%

Description
Performance
Comps
Fundamentals
Valuation
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
Website	www.invescopowershares.com
Inception date	Apr 07, 2010
Assets (mns)	$292
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	66
Wgt avg mkt cap (mns)	$3,362
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	35.0 %
SANDISK CORP/DE	6.0 %
INTERDIGITAL INC	4.3 %
QORVO INC	4.2 %
SANMINA CORP	3.2 %
ADVANCED ENERGY INDUSTRIES	3.1 %
MARATHON DIGITAL HOLDINGS INC	3.0 %
ITRON INC	2.8 %
SITIME CORPORATION	2.8 %
ACI WORLDWIDE INC	2.7 %
BADGER METER INC	2.7 %

TOP COUNTRY EXPOSURE
	UNITED STATES	90.8 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru August 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
1.5%	1.0%	9.9%	11.6%	12.2%

Market Correlations
versus...	Beta	R-squared
S&P500	1.26	60%
MSCI EAFE	0.67	20%
MSCI Emg. Mkts.	0.53	13%

Technical Indicators
Recent close	$51.32
30d moving avg.	$47.53
Annualized volatility	24.8%
Short interest (ETF)	3.0%
Short interest (Underlying)	5.7%
Relative strength (RSI)	61

Liquidity measures
Avg. volume (thou.)	14
Turnover	0.3%
Bid/Ask (% of price)	0.25%
ADV underlying (mns)	$1,716

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 415 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™:

5.0%

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 (%)
CAFG	Pacer US Small Cap Cash Cows Growth Leaders ETF	20.4	59	-30	6.2	+1.2
IJT	iShares S&P Small-Cap 600 Growth ETF	15.4	18	11	5.5	+0.5
SLYG	SPDR S&P 600 Small Cap Growth ETF	14.7	15	14	5.5	+0.5
VIOG	Vanguard S&P Small-Cap 600 Growth ETF	14.1	10	19	5.6	+0.6
XJR	iShares ESG Screened S&P Small-Cap ETF	13.2	12	17	7.4	+2.3
XSW	SPDR S&P Software & Services ETF	13.1	35	-6	2.2	-2.9
XSHQ	Invesco S&P SmallCap Quality ETF	13.1	29	0	7.2	+2.2
SIXG	Defiance Connective Technologies ETF	13.0	30	-1	3.5	-1.6
XSMO	Invesco S&P SmallCap Momentum ETF	13.0	39	-10	5.6	+0.6
IJR	iShares Core S&P Small Cap ETF	12.9	6	23	7.6	+2.6
XSD	SPDR S&P Semiconductor ETF	12.8	35	-6	3.7	-1.3
ESIX	SPDR S&P SmallCap 600 ESG ETF	12.8	12	17	8.0	+2.9
SPSM	SPDR Portfolio S&P 600 Small Cap ETF	12.2	3	26	7.6	+2.6
VIOO	Vanguard S&P Small-Cap 600 ETF	12.0	7	22	7.6	+2.6
SNSR	Global X Internet of Things ETF	11.1	68	-39	4.5	-0.6
RZG	Invesco S&P Smallcap 600 Pure Growth ETF	10.9	35	-6	4.1	-0.9
PSI	Invesco Semiconductors ETF	10.7	57	-28	3.8	-1.2
IJS	iShares S&P Small-Cap 600 Value ETF	10.3	18	11	9.7	+4.7
GRPZ	Invesco S&P SmallCap 600 GARP ETF	10.3	35	-6	7.3	+2.3
QVMS	Invesco S&P SmallCap 600 QVM Multi-factor ETF	9.8	15	14	7.8	+2.8
VIOV	Vanguard S&P Small-Cap 600 Value ETF	9.7	10	19	9.7	+4.7
SLYV	SPDR S&P 600 Small Cap Value ETF	9.5	15	14	9.7	+4.7
SQLV	Royce Quant Small-Cap Quality Value ETF	9.2	60	-31	9.3	+4.3
QQQS	Invesco NASDAQ Future Gen 200 ETF	9.2	20	9	-4.0	-9.0
XITK	SPDR FactSet Innovative Technology ETF	9.1	45	-16	-0.3	-5.3
JPSE	JPMorgan Diversified Return U.S. Small Cap Equity ETF	8.8	29	0	8.2	+3.2
BBSC	JPMorgan BetaBuilders U.S. Small Cap Equity ETF	8.4	9	20	4.2	-0.8
FITE	SPDR S&P Kensho Future Security ETF	8.4	45	-16	1.6	-3.4
SAWS	AAM Sawgrass US Small Cap Quality Growth ETF	8.3	55	-26	4.7	-0.3
XTL	SPDR S&P Telecom ETF	8.3	35	-6	2.1	-3.0
FESM	Fidelity Enhanced Small Cap ETF	8.2	28	1	7.2	+2.2
FLQS	Franklin U.S. Small Cap Multifactor Index ETF	8.0	35	-6	9.4	+4.3
JSML	Janus Henderson Small Cap Growth Alpha ETF	8.0	30	-1	7.7	+2.7
RWJ	Invesco S&P SmallCap 600 Revenue ETF	7.9	39	-10	9.6	+4.5
AFSM	First Trust Active Factor Small Cap ETF	7.9	75	-46	7.5	+2.5
ISMD	Inspire Small/Mid Cap ETF	7.4	54	-25	5.5	+0.5
HAPS	Harbor Human Capital Factor US Small Cap ETF	7.4	60	-31	3.9	-1.1
OPTZ	Optimize Strategy Index ETF	7.3	50	-21	4.6	-0.4
DSMC	Distillate Small/Mid Cash Flow ETF	7.3	55	-26	11.8	+6.8
VTWG	Vanguard Russell 2000 Growth ETF	7.2	10	19	1.4	-3.6
IWO	iShares Russell 2000 Growth ETF	7.2	24	5	1.3	-3.7
SIMS	SPDR S&P Kensho Intelligent Structures ETF	7.1	45	-16	5.3	+0.3
ROSC	Hartford Multifactor Small Cap ETF	7.1	34	-5	9.2	+4.2
PSC	Principal U.S. Small-Cap ETF	6.9	38	-9	6.8	+1.8
FYC	First Trust Small Cap Growth AlphaDEX Fund	6.8	71	-42	0.4	-4.6
QCLN	First Trust Nasdaq Clean Edge Green Energy Index Fund	6.8	58	-29	-2.2	-7.2
RSMC	Rockefeller U.S. Small-Mid Cap ETF	6.7	75	-46	5.0	-0.0
CSA	VictoryShares US Small Cap Volatility Wtd ETF	6.4	35	-6	7.7	+2.7
SURE	AdvisorShares Insiders Advantage ETF	6.4	90	-61	9.5	+4.5
AVSC	Avantis U.S Small Cap Equity ETF	6.3	25	4	5.6	+0.5
PTF	Invesco Dorsey Wright Technology Momentum ETF	6.2	60	-31	1.2	-3.8
TPSC	Timothy Plan US Small Cap Core ETF	6.1	52	-23	6.8	+1.8
GSSC	Goldman Sachs Activebeta U.S. Small Cap Equity ETF	6.0	20	9	5.5	+0.5
NIXT	Research Affiliates Deletions ETF	6.0	9	20	8.6	+3.6
WCLD	WisdomTree Cloud Computing Fund	6.0	45	-16	1.6	-3.5
STXK	Strive Small-Cap ETF	6.0	18	11	5.9	+0.8
SIXS	ETC 6 Meridian Small Cap Equity ETF	6.0	89	-60	9.8	+4.8
IWM	iShares Russell 2000 ETF	5.9	19	10	4.3	-0.8
VTWO	Vanguard Russell 2000 ETF	5.9	7	22	4.3	-0.7
RSSL	Global X Russell 2000 ETF	5.9	8	21	4.3	-0.7
OMFS	Invesco Russell 2000 Dynamic Multifactor ETF	5.8	39	-10	5.8	+0.8
BKSE	BNY Mellon US Small Cap Core Equity ETF	5.8	4	25	5.9	+0.9
IHAK	iShares Cybersecurity & Tech ETF	5.7	47	-18	4.1	-0.9
ETHO	Etho Climate Leadership U.S. ETF	5.7	47	-18	5.3	+0.3
CLOU	Global X Cloud Computing ETF	5.7	68	-39	2.2	-2.8
SRHQ	SRH U.S. Quality ETF	5.6	35	-6	7.6	+2.6
ABLS	Abacus FCF Small Cap Leaders ETF	5.5	59	-30	6.2	+1.1
DAT	ProShares Big Data Refiners ETF	5.4	58	-29	2.1	-2.9
KOMP	SPDR S&P Kensho New Economies Composite ETF	5.3	20	9	2.4	-2.6
USVM	VictoryShares US Small Mid Cap Value Momentum ETF	5.3	25	4	7.8	+2.8
NUSC	Nuveen ESG Small-Cap ETF	5.2	31	-2	5.3	+0.3
JSMD	Janus Henderson Small/Mid Cap Growth Alpha ETF	5.2	30	-1	6.5	+1.5
TMFS	Motley Fool Small-Cap Growth ETF	5.2	85	-56	3.8	-1.3
FYX	First Trust Small Cap Core AlphaDEX Fund	5.2	61	-32	5.9	+0.9
AVUV	Avantis U.S. Small Cap Value ETF	5.1	25	4	9.7	+4.7
EES	WisdomTree U.S. SmallCap Fund	5.0	38	-9	8.7	+3.7
NVIR	Horizon Kinetics Energy and Remediation ETF	4.8	85	-56	6.8	+1.8
CALF	Pacer US Small Cap Cash Cows 100 ETF	4.8	59	-30	10.7	+5.6
RJMG	FT Raymond James Multicap Growth Equity ETF	4.8	85	-56	2.0	-3.1
SMLV	SPDR SSGA US Small Cap Low Volatility Index ETF	4.6	12	17	7.4	+2.3
WFH	Direxion Work From Home ETF	4.6	45	-16	3.8	-1.2
PRFZ	Invesco FTSE RAFI US 1500 Small-Mid ETF	4.5	39	-10	5.3	+0.2
VOLT	Tema Electrification ETF	4.5	75	-46	2.8	-2.2
FDIG	Fidelity Crypto Industry and Digital Payments ETF	4.5	39	-10	-1.3	-6.3
BWEB	Bitwise Web3 ETF	4.5	85	-56	-0.2	-5.2
BKCH	Global X Blockchain ETF	4.5	50	-21	-3.6	-8.6
BITQ	Bitwise Crypto Industry Innovators ETF	4.5	85	-56	-2.3	-7.4
DAPP	VanEck Digital Transformation ETF	4.5	50	-21	0.0	-5.0
IBLC	iShares Blockchain and Tech ETF	4.5	47	-18	-2.7	-7.7
BLCN	Siren ETF Trust Siren Nasdaq NexGen Economy ETF	4.5	68	-39	2.6	-2.5
WGMI	Valkyrie Bitcoin Miners ETF	4.5	75	-46	-4.4	-9.5
FDLS	Inspire Fidelis Multi Factor ETF	4.5	76	-47	5.1	+0.0
IWN	iShares Russell 2000 Value ETF	4.4	24	5	7.3	+2.3
VTWV	Vanguard Russell 2000 Value ETF	4.4	10	19	7.3	+2.2
FYT	First Trust Small Cap Value AlphaDEX Fund	4.3	73	-44	10.5	+5.5
SMDX	Intech S&P Small-Mid Cap Divers Alp ETF	4.3	35	-6	7.2	+2.2
BCOR	Grayscale Bitcoin Adopters ETF	4.3	59	-30	2.3	-2.7
DWAS	Invesco Dorsey Wright SmallCap Momentum ETF	4.3	60	-31	2.0	-3.0
ISCG	iShares Morningstar Small-Cap Growth ETF	4.2	6	23	2.9	-2.1
PHO	Invesco Water Resources ETF	4.2	60	-31	4.5	-0.6
FNY	First Trust Mid Cap Growth AlphaDEX Fund	4.1	70	-41	2.8	-2.2
AFMC	First Trust Active Factor Mid Cap ETF	4.0	65	-36	8.3	+3.3
FSCS	First Trust SMID Capital Strength ETF	3.9	60	-31	7.1	+2.1
FTEC	Fidelity MSCI Information Technology Index ETF	3.9	8	21	3.9	-1.1
SPAM	Themes Cybersecurity ETF	3.9	35	-6	2.0	-3.0
DFAS	Dimensional U.S. Small Cap ETF	3.9	26	3	6.4	+1.4
OUSM	ALPS O'Shares US Small-Cap Quality Dividend ETF	3.8	48	-19	8.2	+3.2
FNDA	Schwab Fundamental US Small Co. Index ETF	3.8	25	4	8.2	+3.2
ROKT	SPDR S&P Kensho Final Frontiers ETF	3.8	45	-16	2.0	-3.0
SCHA	Schwab U.S. Small-Cap ETF	3.8	4	25	5.9	+0.8
DTEC	ALPS Disruptive Technologies ETF	3.8	50	-21	3.9	-1.1
ESML	iShares ESG Aware MSCI USA Small-Cap ETF	3.8	17	12	5.7	+0.6
FRNW	Fidelity Clean Energy ETF	3.7	39	-10	3.2	-1.9
MMSC	First Trust Multi-Manager Small Cap Opportunities ETF	3.7	95	-66	0.5	-4.5
RNSC	Furst Trust Small Cap US Equity Select ETF	3.6	60	-31	6.0	+0.9
IDGT	iShares U.S. Digital Infrastructure and Real Estate ETF	3.6	41	-12	6.0	+0.9
FIW	First Trust Water ETF	3.6	53	-24	4.7	-0.3
AZTD	Aztlan Global Stock Selection DM SMID ETF	3.6	75	-46	7.4	+2.4
SFLO	VictoryShares Small Cap Free Cash Flow ETF	3.5	49	-20	11.2	+6.2
PBW	Invesco WilderHill Clean Energy ETF	3.5	66	-37	-3.6	-8.6
FSMD	Fidelity Small-Mid Multifactor ETF	3.4	15	14	7.0	+2.0
RZV	Invesco S&P Smallcap 600 Pure Value ETF	3.4	35	-6	10.0	+5.0
SMLF	iShares U.S. SmallCap Equity Factor ETF	3.3	15	14	5.8	+0.8
MAKX	ProShares S&P Kensho Smart Factories ETF	3.2	58	-29	-1.4	-6.4
SDVY	First Trust SMID Cap Rising Dividend Achievers ETF	3.2	60	-31	7.5	+2.4
SATO	Invesco Alerian Galaxy Crypto Economy ETF	3.2	61	-32	-1.9	-6.9
VGT	Vanguard Information Technology ETF	3.2	9	20	3.8	-1.2
ISCB	iShares Morningstar Small-Cap ETF	3.2	4	25	6.2	+1.2
LQPE	PEO AlphaQuest Thematic PE ETF	3.2	125	-96	5.1	+0.1
FCLD	Fidelity Cloud Computing ETF	3.2	39	-10	3.2	-1.9
CSMD	Congress SMid Growth ETF	3.1	69	-40	3.9	-1.2
RNMC	First Trust Mid Cap US Equity Select ETF	3.1	60	-31	6.5	+1.5
JMEE	JPMorgan Market Expansion Enhanced Equity ETF	3.1	24	5	7.7	+2.7
SOLR	Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund	3.1	79	-50	4.9	-0.1
VBK	Vanguard Small-Cap Growth ETF	3.0	7	22	1.9	-3.1
HLGE	Hartford Longevity Economy ETF	3.0	44	-15	-0.4	-5.4
VAMO	Cambria Value & Momentum ETF	3.0	61	-32	5.8	+0.8
YALL	God Bless America ETF	3.0	65	-36	3.6	-1.4
DFAT	Dimensional U.S. Targeted Value ETF	2.9	28	1	9.2	+4.2
CRPT	First Trust SkyBridge Crypto Industry & Digital Economy ETF	2.9	85	-56	0.0	-5.0
IPAY	ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund	2.9	75	-46	4.6	-0.5
SMMV	iShares MSCI USA Small-Cap Min Vol Factor ETF	2.9	20	9	6.3	+1.3
MGMT	Ballast Small/Mid Cap ETF	2.8	110	-81	8.3	+3.2
GSFP	Goldman Sachs Future Planet Equity ETF	2.8	75	-46	4.8	-0.2
ACES	ALPS Clean Energy ETF	2.8	55	-26	-3.5	-8.5
TINY	ProShares Nanotechnology ETF	2.8	58	-29	4.8	-0.3
DEEP	Roundhill Acquirers Deep Value ETF	2.8	80	-51	16.7	+11.7
EBLU	Ecofin Global Water ESG Fund	2.7	40	-11	4.3	-0.8
BEEZ	Honeytree U.S. Equity ETF	2.7	64	-35	3.8	-1.3
STCE	Schwab Crypto Thematic ETF	2.7	30	-1	0.8	-4.2
AIS	VistaShares Artificial Intelligence Supercycle ETF	2.7	75	-46	2.8	-2.3
SMCF	Themes US Small Cap Cash Flow Champions ETF	2.7	29	0	12.0	+7.0
AQWA	Global X Clean Water ETF	2.7	50	-21	5.0	-0.1
LST	Leuthold Select Industries ETF	2.7	91	-62	5.0	-0.0
FAD	First Trust Multi Cap Growth AlphaDEX Fund	2.7	64	-35	2.2	-2.8
DFSV	Dimensional US Small Cap Value ETF	2.6	31	-2	10.0	+5.0
BUZZ	VanEck Social Sentiment ETF	2.5	75	-46	-0.4	-5.4
BSVO	EA Bridgeway Omni Small-Cap Value ETF	2.5	47	-18	8.9	+3.9
WAR	U.S. Global Tech and Aerospace & Defense ETF	2.5	60	-31	3.6	-1.4
TRFM	AAM Transformers ETF	2.4	49	-20	1.3	-3.8
LOUP	Innovator Deepwater Frontier Tech ETF	2.4	70	-41	1.1	-3.9
HWSM	Hotchkis & Wiley SMID Cap Diversified Value ETF	2.4	55	-26	10.1	+5.0
DGRS	WisdomTree US Smallcap Quality Dividend Growth Fund	2.4	38	-9	9.8	+4.8
VFMV	Vanguard U.S. Minimum Volatility ETF	2.4	13	16	5.7	+0.7
ALIL	Argent Focused Small Cap ETF	2.4	74	-45	7.1	+2.1
CVAR	Cultivar ETF	2.4	87	-58	6.8	+1.8
TDV	ProShares S&P Technology Dividend Aristocrats ETF	2.4	45	-16	5.4	+0.4
QMOM	Alpha Architect U.S. Quantitative Momentum ETF	2.3	39	-10	3.3	-1.7
BLOK	Amplify Transformational Data Sharing ETF	2.3	75	-46	-0.4	-5.4
BFOR	ALPS Barron's 400 ETF	2.3	65	-36	6.0	+1.0
FNX	First Trust Mid Cap Core AlphaDEX Fund	2.3	60	-31	7.3	+2.3
VXF	Vanguard Extended Market ETF	2.3	5	24	4.6	-0.4
BLLD	JPMorgan Sustainable Infrastructure ETF	2.3	49	-20	6.1	+1.1
XSVM	Invesco S&P SmallCap Value with Momentum ETF	2.3	36	-7	10.6	+5.6
VB	Vanguard Small-Cap ETF	2.2	5	24	6.1	+1.1
URAN	Themes Uranium & Nuclear ETF	2.2	35	-6	1.4	-3.6
ISCV	iShares Morningstar Small Cap Value ETF	2.2	6	23	9.3	+4.3
FINX	Global X FinTech ETF	2.2	68	-39	2.1	-2.9
WCEO	Hypatia Women CEO ETF	2.2	85	-56	3.8	-1.3
EZM	WisdomTree U.S. MidCap Fund	2.1	38	-9	9.0	+4.0
BLKC	Invesco Alerian Galaxy Blockchain Users and Decentralized Co	2.1	61	-32	1.3	-3.7
VUSE	Vident U.S. Equity Strategy ETF	2.1	50	-21	4.5	-0.6
SKYY	First Trust Cloud Computing ETF	2.0	60	-31	2.7	-2.3
SIXL	ETC 6 Meridian Low Beta Equity ETF	2.0	80	-51	6.2	+1.2
JHSC	John Hancock Multifactor Small Cap ETF	2.0	42	-13	6.6	+1.6
DFNV	Donoghue Forlines Innovation ETF	2.0	69	-40	4.5	-0.5
CARZ	First Trust NASDAQ Global Auto Index Fund	2.0	70	-41	4.7	-0.4
FXL	First Trust Technology AlphaDEX Fund	1.9	61	-32	5.3	+0.2
CGW	Invesco S&P Global Water Index ETF	1.9	57	-28	4.7	-0.3
IWC	iShares Micro-Cap ETF	1.9	60	-31	-0.8	-5.8
SAMM	Strategas Macro Momentum ETF	1.8	66	-37	2.3	-2.7
FDRV	Fidelity Electric Vehicles and Future Transportation ETF	1.8	39	-10	-0.9	-5.9
GRID	First Trust Nasdaq Clean Edge Smart GRID Infrastructure	1.8	58	-29	4.6	-0.5
XSLV	Invesco S&P SmallCap Low Volatility ETF	1.8	25	4	7.5	+2.5
EFRA	iShares Environmental Infrastructure and Industrials ETF	1.8	47	-18	5.2	+0.2
FFSM	Fidelity Fundamental Small-Mid Cap ETF	1.8	43	-14	6.1	+1.1
SFYX	SoFi Next 500 ETF	1.8	0	29	5.7	+0.7
FDMO	Fidelity Momentum Factor ETF	1.7	15	14	3.6	-1.4
PBD	Invesco Global Clean Energy ETF	1.7	75	-46	-0.3	-5.4
VFMF	Vanguard U.S. Multifactor ETF	1.7	18	11	7.9	+2.9
MADE	iShares U.S. Manufacturing ETF	1.7	40	-11	5.1	+0.1
IGV	iShares Expanded Tech-Software Sector ETF	1.7	41	-12	2.6	-2.4
SVAL	iShares US Small Cap Value Factor ETF	1.6	20	9	10.3	+5.3
DES	WisdomTree U.S. SmallCap Dividend Fund	1.6	38	-9	9.3	+4.3
VBR	Vanguard Small Cap Value ETF	1.6	7	22	9.1	+4.1
GINN	Goldman Sachs Innovate Equity ETF	1.6	52	-23	3.6	-1.4
DRIV	Global X Autonomous & Electric Vehicles ETF	1.5	68	-39	4.9	-0.2
SMAP	Amplify Small-Mid Cap Equity ETF	1.5	60	-31	5.6	+0.5
NEWZ	StockSnips AI-Powered Sentiment US All Cap ETF	1.5	65	-36	4.7	-0.3
TMFM	Motley Fool Mid-Cap Growth ETF	1.4	85	-56	2.7	-2.3
VFVA	Vanguard U.S. Value Factor ETF	1.4	13	16	10.9	+5.8
UFO	Procure Space ETF	1.4	75	-46	0.2	-4.8
ERTH	Invesco MSCI Sustainable Future ETF	1.3	62	-33	3.6	-1.4
ROUS	Hartford Multifactor US Equity ETF	1.3	19	10	7.0	+2.0
RNIN	Bushido Capital US SMID Cap Equity ETF	1.3	70	-41	10.3	+5.3
AMID	Argent Mid Cap ETF Argent Mid Cap ETF	1.3	52	-23	6.4	+1.3
CCSO	Carbon Collective Climate Solutions US Equity ETF	1.3	35	-6	1.0	-4.0
VFMO	Vanguard U.S. Momentum Factor ETF	1.3	13	16	2.9	-2.1
BBMC	JPMorgan BetaBuilders U.S. Mid Cap Equity ETF	1.3	7	22	6.0	+1.0
GURU	Global X Guru Index ETF	1.2	75	-46	2.9	-2.1
NXTG	First Trust Indxx NextG ETF	1.2	70	-41	5.2	+0.2
DXUV	Dimensional US Vector Equity ETF	1.2	28	1	6.2	+1.1
BRNY	Burney U.S. Factor Rotation ETF Burney U.S. Factor Rotation	1.2	79	-50	4.4	-0.6
TRFK	Pacer Data and Digital Revolution ETF	1.2	60	-31	2.9	-2.2
FDCF	Fidelity Disruptive Communications ETF	1.2	50	-21	2.7	-2.4
ITEQ	BlueStar Israel Technology ETF	1.2	75	-46	1.6	-3.4
FTXL	First Trust Nasdaq Semiconductor ETF	1.2	60	-31	4.9	-0.2
IVES	Wedbush ETFMG Global Cloud Technology ETF	1.2	68	-39	6.7	+1.7
WTAI	WisdomTree Artificial Intelligence and Innovation Fund	1.2	45	-16	2.6	-2.5
AIVC	Amplify Bloomberg AI Value Chain ETF	1.2	59	-30	5.2	+0.2
FMDE	Fidelity Enhanced Mid Cap ETF	1.2	23	6	5.7	+0.7
FAB	First Trust Multi Cap Value AlphaDEX Fund	1.1	67	-38	9.9	+4.8
TEMP	JPMorgan Climate Change Solutions ETF	1.1	49	-20	5.8	+0.8
NUKZ	Range Nuclear Renaissance Index ETF	1.1	85	-56	2.0	-3.0
GVLU	Gotham 1000 Value ETF	1.1	50	-21	8.9	+3.9
PRN	Invesco Dorsey Wright Industrials Momentum ETF	1.1	60	-31	3.5	-1.6
BOUT	Innovator IBD Breakout Opportunities ETF	1.1	81	-52	2.7	-2.3
IGM	iShares Expanded Tech Sector ETF	1.1	41	-12	3.8	-1.3
HAPY	Harbor Human Capital Factor Unconstrained ETF	1.1	50	-21	5.6	+0.6
QTUM	Defiance Quantum ETF	1.0	40	-11	5.3	+0.3
XT	iShares Exponential Technologies ETF	1.0	46	-17	4.8	-0.2
FFOX	FundX Future Fund Opportunities ETF	1.0	100	-71	4.2	-0.8
ANEW	ProShares MSCI Transformational Changes ETF	1.0	45	-16	6.1	+1.1
SOXX	iShares Semiconductor ETF	1.0	35	-6	4.7	-0.3
FLRG	Fidelity U.S. Multifactor ETF	1.0	15	14	6.9	+1.9
EBI	Longview Advantage ETF	1.0	35	-6	6.5	+1.5
THRO	iShares U.S. Thematic Rotation Active ETF	0.9	90	-61	4.0	-1.1
PPA	Invesco Aerospace & Defense ETF	0.9	58	-29	2.5	-2.6
VFQY	Vanguard U.S. Quality Factor ETF	0.9	13	16	6.4	+1.3
QOWZ	Invesco Nasdaq Free Cash Flow Achievers ETF	0.9	39	-10	3.6	-1.4
CTEC	Global X CleanTech ETF	0.9	50	-21	-0.1	-5.1
TAN	Invesco Solar ETF	0.9	67	-38	6.7	+1.7
IBAT	iShares Energy Storage & Materials ETF	0.9	47	-18	3.5	-1.5
CNRG	SPDR S&P Kensho Clean Power ETF	0.9	45	-16	1.0	-4.1
HAIL	SPDR S&P Kensho Smart Mobility ETF	0.9	45	-16	0.4	-4.7
TAX	Cambria Tax Aware ETF	0.9	49	-20	5.0	-0.0
AOTG	AOT Growth and Innovation ETF	0.9	75	-46	1.7	-3.3
FNK	First Trust Mid Cap Value AlphaDEX Fund	0.8	70	-41	10.9	+5.9
PAVE	Global X U.S. Infrastructure Development ETF	0.8	47	-18	5.3	+0.2
FLOW	Global X U.S. Cash Flow Kings 100 ETF	0.8	25	4	11.0	+6.0
TMFX	Motley Fool Next Index ETF	0.8	50	-21	2.6	-2.4
FELV	Fidelity Enhanced Large Cap Value ETF	0.8	18	11	6.7	+1.7
ICLN	iShares Global Clean Energy ETF	0.8	41	-12	5.0	+0.0
ECML	Euclidean Fundamental Value ETF	0.7	95	-66	11.2	+6.1
SHLD	Global X Defense Tech ETF	0.7	50	-21	3.1	-2.0
TILT	FlexShares Morningstar US Market Factor Tilt Index Fund	0.7	25	4	5.6	+0.6
TTAC	FCF US Quality ETF	0.7	59	-30	6.3	+1.3
ACTV	LeaderShares Activist Leaders ETF	0.7	75	-46	5.4	+0.4
SOXQ	Invesco PHLX Semiconductor ETF	0.7	19	10	4.4	-0.6
AVSU	Avantis Responsible U.S. Equity ETF	0.7	15	14	5.9	+0.9
DFAC	Dimensional U.S. Core Equity 2 ETF	0.7	17	12	5.5	+0.4
SMDV	ProShares Russell 2000 Dividend Growers ETF	0.7	40	-11	7.5	+2.5
BUG	Global X Cybersecurity ETF	0.7	51	-22	2.4	-2.7
HACK	ETFMG Prime Cyber Security ETFMG Prime Cyber Security Fund	0.7	60	-31	3.4	-1.6
OSCV	Opus Small Cap Value ETF	0.7	79	-50	6.5	+1.5
CIBR	First Trust NASDAQ Cybersecurity ETF	0.6	60	-31	4.0	-1.0
GOP	Unusual Whales Subversive Republican Trading ETF	0.6	50	-21	5.5	+0.5
DFUV	Dimensional US Marketwide Value ETF	0.6	22	7	7.5	+2.5
TDIV	First Trust NASDAQ Technology Dividend Index Fund	0.6	50	-21	5.3	+0.2
STXM	Strive Mid-Cap ETF	0.6	18	11	6.1	+1.1
AIQ	Global X Artificial Intelligence & Technology ETF	0.6	68	-39	3.6	-1.4
ONEQ	Fidelity Nasdaq Composite Index ETF	0.6	21	8	3.6	-1.4
OCEN	IQ Clean Oceans ETF	0.5	45	-16	6.0	+1.0
FELC	Fidelity Enhanced Large Cap Core ETF	0.5	18	11	5.1	+0.1
WISE	Themes Generative Artificial Intelligence ETF	0.5	35	-6	0.4	-4.6
WTV	WisdomTree US Value Fund of Benef Interest	0.5	12	17	8.9	+3.9
DCOR	Dimensional US Core Equity 1 ETF	0.5	14	15	5.3	+0.3
FCPI	Fidelity Stocks for Inflation ETF	0.5	15	14	7.5	+2.4
HGRO	Hedgeye Quality Growth ETF	0.5	70	-41	3.3	-1.7
ITAN	Sparkline Intangible Value ETF	0.5	50	-21	6.5	+1.5
SXQG	ETC 6 Meridian Quality Growth ETF	0.5	100	-71	4.7	-0.4
SAGP	Strategas Global Policy Opportunities ETF	0.5	65	-36	5.4	+0.4
BULD	Pacer BlueStar Engineering the Future ETF	0.5	60	-31	0.4	-4.6
VLU	SPDR S&P 1500 Value Tilt ETF	0.5	12	17	7.4	+2.4
AVUQ	Avantis U.S. Quality ETF	0.5	15	14	4.3	-0.7
ISRA	VanEck Israel ETF	0.4	59	-30	7.2	+2.2
DWLD	Davis Select Worldwide ETF	0.4	63	-34	7.0	+2.0
FDWM	Fidelity Women's Leadership ETF	0.4	59	-30	4.8	-0.2
IDRV	iShares Self-driving EV & Tech ETF	0.4	47	-18	1.8	-3.3
NATO	Themes Transatlantic Defense ETF	0.4	35	-6	2.4	-2.7
FNDB	Schwab Fundamental US Broad Market Index ETF	0.4	25	4	7.2	+2.1
IQM	Franklin Intelligent Machines ETF	0.4	50	-21	1.9	-3.1
AVUS	Avantis U.S. Equity ETF	0.4	15	14	5.7	+0.7
FDN	First Trust Dow Jones Internet Index Fund	0.4	52	-23	3.1	-2.0
FDND	FT Vest Dow Jones Internet & Target Income ETF	0.4	75	-46	2.9	-2.1
JVAL	JPMorgan U.S. Value Factor ETF	0.4	12	17	8.0	+3.0
OALC	OneAscent Large Cap Core ETF	0.4	86	-57	4.0	-1.0
BKMC	BNY Mellon US Mid Cap Core Equity ETF	0.4	4	25	6.1	+1.1
HKND	Humankind US Stock ETF	0.4	11	18	7.1	+2.1
AFLG	First Trust Active Factor Large Cap ETF	0.4	55	-26	6.3	+1.3
SHPP	Pacer Industrials and Logistics ETF	0.4	60	-31	8.6	+3.6
DFSU	Dimensional US Sustainability Core 1 ETF	0.4	18	11	5.3	+0.3
DON	WisdomTree U.S. MidCap Dividend Fund	0.4	38	-9	8.9	+3.8
JQUA	JPMorgan U.S. Quality Factor ETF	0.4	12	17	5.9	+0.8
SEIV	SEI Enhanced U.S. Large Cap Value Factor ETF	0.4	15	14	8.9	+3.9
JHMM	John Hancock Multifactor Mid Cap ETF	0.4	42	-13	6.4	+1.3
FPX	First Trust US Equity Opportunities ETF	0.3	61	-32	1.0	-4.1
MFUS	PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	0.3	29	0	6.4	+1.3
SCHM	Schwab U.S. Mid-Cap ETF	0.3	4	25	6.6	+1.6
VALQ	American Century U.S. Quality Value ETF	0.3	29	0	7.7	+2.7
TECB	iShares U.S. Tech Breakthrough Multisector ETF	0.3	40	-11	3.7	-1.3
DFAU	Dimensional US Core Equity Market ETF	0.3	12	17	5.0	-0.1
HSMV	First Trust Horizon Managed Volatility Small/Mid ETF	0.3	80	-51	7.9	+2.9
CLNR	IQ Cleaner Transport ETF	0.3	45	-16	6.6	+1.6
CLOD	Themes Cloud Computing ETF	0.3	35	-6	3.1	-1.9
VERS	ProShares Metaverse ETF	0.3	58	-29	-1.0	-6.1
ITOT	iShares Core S&P Total U.S. Stock Market ETF	0.3	3	26	4.8	-0.2
SOCL	Global X Social Media ETF	0.3	65	-36	8.4	+3.4
SPTM	SPDR Portfolio S&P 1500 Composite Stock Market ETF	0.3	3	26	5.1	+0.1
IWV	iShares Russell 3000 ETF	0.3	20	9	4.7	-0.3
VTHR	Vanguard Russell 3000 ETF	0.3	7	22	4.8	-0.2
VTI	Vanguard Total Stock Market ETF	0.3	3	26	4.8	-0.2
DTAN	Sparkline International Intangible Value ETF	0.3	55	-26	8.5	+3.5
DFUS	Dimensional U.S. Equity ETF	0.3	9	20	4.7	-0.3
PNQI	Invesco NASDAQ Internet ETF	0.3	60	-31	3.2	-1.8
SCHB	Schwab U.S. Broad Market ETF	0.3	3	26	4.9	-0.1
ESGV	Vanguard ESG U.S. Stock ETF	0.2	9	20	4.6	-0.4
SNPD	Xtrackers S&P ESG Dividend Aristocrats ETF	0.2	15	14	7.6	+2.6
PRF	Invesco FTSE RAFI US 1000 ETF	0.2	39	-10	6.7	+1.7
MMTM	SPDR S&P 1500 Momentum Tilt ETF	0.2	12	17	4.5	-0.6
SYLD	Cambria Shareholder Yield ETF	0.2	59	-30	11.7	+6.7
SDY	SPDR S&P Dividend ETF	0.2	35	-6	6.7	+1.7
AVMC	Avantis U.S. Mid Cap Equity ETF	0.2	18	11	6.9	+1.9
HERO	Global X Video Games & Esports ETF	0.2	50	-21	3.7	-1.3
APUE	ActivePassive U.S. Equity ETF	0.2	45	-16	4.6	-0.5
SMH	VanEck Semiconductor ETF	0.2	35	-6	3.8	-1.2
IQSM	IQ Candriam U.S. Mid Cap Equity ETF	0.2	15	14	6.0	+0.9
SMMD	iShares Russell 2500 ETF	0.2	15	14	6.1	+1.1
EQAL	Invesco Russell 1000 Equal Weight ETF	0.2	20	9	6.8	+1.8
JSTC	Adasina Social Justice All Cap Global ETF	0.2	89	-60	4.8	-0.2
AVMV	Avantis U.S. Mid Cap Value ETF	0.2	20	9	8.7	+3.7
JPME	JPMorgan Diversified Return U.S. Mid Cap Equity ETF	0.2	24	5	8.1	+3.1
DEUS	Xtrackers Russell US Multifactor ETF	0.2	17	12	7.1	+2.0
REVS	Columbia Research Enhanced Value ETF	0.2	19	10	7.6	+2.6
PKW	Invesco Buyback Achievers ETF	0.2	62	-33	7.2	+2.2
PDN	Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF	0.2	49	-20	6.7	+1.6
FNDX	Schwab Fundamental US Large Co. Index ETF	0.2	25	4	7.1	+2.1
VT	Vanguard Total World Stock ETF	0.2	6	23	5.8	+0.7
QGRO	American Century U.S. Quality Growth ETF	0.2	29	0	3.5	-1.5
QLV	FlexShares US Quality Low Volatility Index Fund	0.1	22	7	5.6	+0.6
CCMG	CCM Global Equity ETF	0.1	34	-5	8.3	+3.3
AVLV	Avantis U.S. Large Cap Value ETF	0.1	15	14	7.8	+2.7
BUYZ	Franklin Disruptive Commerce ETF	0.1	50	-21	2.2	-2.9
FNDC	Schwab Fundamental International Small Co. Index ETF	0.1	39	-10	5.6	+0.6
IWS	iShares Russell Mid-Cap Value ETF	0.1	23	6	6.8	+1.7
GGME	Invesco Next Gen Media and Gaming ETF	0.1	60	-31	4.2	-0.9
IWR	iShares Russell Midcap ETF	0.1	19	10	5.8	+0.8
MIDE	Xtrackers S&P MidCap 400 ESG ETF	0.1	15	14	7.9	+2.9
IUS	Invesco RAFI Strategic US ETF	0.1	19	10	6.8	+1.8
LRGF	iShares U.S. Equity Factor ETF	0.1	8	21	5.4	+0.3
PTL	Inspire 500 ETF	0.1	9	20	5.1	+0.1
TMFE	Motley Fool Capital Efficiency 100 Index ETF	0.1	50	-21	4.2	-0.8
IYW	iShares U.S. Technology ETF	0.1	40	-11	3.8	-1.3
ONEO	SPDR Russell 1000 Momentum Focus ETF	0.1	20	9	7.0	+2.0
CVLC	Calvert US Large-Cap Core Responsible Index ETF	0.1	15	14	4.8	-0.2
FELG	Fidelity Enhanced Large Cap Growth ETF	0.1	18	11	4.6	-0.5
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	0.1	9	20	5.6	+0.6
RAFE	PIMCO RAFI ESG U.S. ETF	0.1	29	0	7.0	+2.0
AUSF	Global X Adaptive U.S. Factor ETF	0.1	27	2	8.8	+3.8
DTD	WisdomTree U.S. Total Dividend Fund	0.1	28	1	6.3	+1.3
IGPT	Invesco AI and Next Gen Software ETF	0.1	60	-31	4.1	-0.9
SCHK	Schwab 1000 Index ETF	0.1	5	24	4.9	-0.1
FBCG	Fidelity Blue Chip Growth ETF	0.1	59	-30	2.8	-2.3
TXS	Texas Capital Texas Equity Index ETF	0.1	49	-20	5.6	+0.6
IEDI	iShares U.S. Consumer Focused ETF	0.0	18	11	5.3	+0.3
STXV	Strive 1000 Value ETF	0.0	18	11	8.0	+3.0
VYM	Vanguard High Dividend Yield Index ETF	0.0	6	23	7.0	+1.9
IWD	iShares Russell 1000 Value ETF	0.0	19	10	6.4	+1.4
VONV	Vanguard Russell 1000 Value ETF	0.0	7	22	6.5	+1.5
GVUS	Marketbeta Russell 1000 Value Equity ETF	0.0	12	17	6.5	+1.5
JHML	John Hancock Multifactor Large Cap ETF	0.0	29	0	5.3	+0.3
GUSA	Goldman Sachs MarketBeta U.S. 1000 Equity ETF	0.0	11	18	4.8	-0.2
FLQM	Franklin U.S. Mid Cap Multifactor Index ETF	0.0	30	-1	8.3	+3.3
SPDG	SPDR Portfolio S&P Sector Neutral Dividend ETF	0.0	5	24	8.0	+3.0
FSST	Fidelity Sustainable U.S. Equity ETF	0.0	59	-30	4.3	-0.7
RECS	Columbia Research Enhanced Core ETF	0.0	15	14	5.6	+0.6
SCHG	Schwab U.S. Large-Cap Growth ETF	0.0	4	25	3.9	-1.1
IETC	iShares U.S. Tech Independence Focused ETF	0.0	18	11	3.6	-1.4
IYY	iShares Dow Jones U.S. ETF	0.0	20	9	4.7	-0.3
VIG	Vanguard Dividend Appreciation ETF	0.0	5	24	5.5	+0.5
DSI	iShares MSCI KLD 400 Social ETF	0.0	25	4	4.8	-0.3
IWB	iShares Russell 1000 ETF	0.0	15	14	4.8	-0.2
VONE	Vanguard Russell 1000 ETF	0.0	7	22	4.8	-0.2
DGRW	WisdomTree US Quality Dividend Growth Fund	0.0	28	1	5.4	+0.4
PFM	Invesco Dividend Achievers ETF	0.0	53	-24	5.2	+0.2
JUST	Goldman Sachs JUST U.S. Large Cap Equity ETF	0.0	20	9	5.0	-0.1
IWP	iShares Russell Mid-Cap Growth ETF	0.0	23	6	3.4	-1.6
SCHX	Schwab U.S. Large-Cap ETF	0.0	3	26	4.9	-0.1
GGUS	Marketbeta Russell 1000 Growth Equity ETF	0.0	12	17	4.4	-0.6
DGRO	iShares Core Dividend Growth ETF	0.0	8	21	6.5	+1.5
STXG	Strive 1000 Growth ETF	0.0	18	11	3.8	-1.2
IWF	iShares Russell 1000 Growth ETF	0.0	19	10	4.3	-0.7
VONG	Vanguard Russell 1000 Growth ETF	0.0	7	22	4.4	-0.6
VSLU	Applied Finance Valuation Large Cap ETF	0.0	49	-20	5.5	+0.4
LCTU	BlackRock U.S. Carbon Transition Readiness ETF	0.0	14	15	4.8	-0.2

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

	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		**%	**%	**%	**%	**%	**%

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

	2024	2025E	2026E
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:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	13.2	%
Divided by: Fwd. P/BV	2.5	x
Less: Expense ratio	29	bp
Equals: ALTAR Score	5.0	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.59	CATEGORY AVERAGE	1.59

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.