Invesco S&P Small Cap Utilities
ALTAR
Score™
-3.5% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
-3.2x P/Sales
ratio
0.7x
P/BV
ratio
3.5x Div.
yield
3.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P Small Cap Utilities is based on the S&P SmallCap 600 Capped Utilities 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) $44
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 23
Wgt avg mkt cap (mns) $1,966
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 53.8%
Small cap (<$2bn) 46.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMERICAN STATES WATER CO 9.8 %
AVISTA CORP 9.7 %
SOUTH JERSEY INDUSTRIES 8.7 %
VONAGE HOLDINGS CORP. 5.7 %
COGENT COMMUNICATIONS HOLDINGS INC 5.0 %
EW SCRIPPS CO-CL A 5.0 %
EL PASO ELECTRIC CO 4.6 %
SCHOLASTIC CORP 4.5 %
MARCUS CORPORATION 4.4 %
GANNETT CO., INC. 4.4 %
Total 61.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 100.1 %










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.
9.2% -2.9% 10.3% -- 11.3%

Market Correlations
versus... Beta R-squared
S&P500 0.70 39%
MSCI EAFE 0.52 18%
MSCI Emg. Mkts. 0.25 7%

Technical Indicators
Recent close $51.22
30d moving avg. $52.11
Annualized volatility 13.5%
Short interest (ETF) 0.0%
Short interest (Underlying) 4.6%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.4%
Bid/Ask (% of price) 0.44%
ADV underlying (mns) $302

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PSCU Expense: 29 bp ALTAR Score™: -3.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PSCU
Ticker Fund
Name
Overlap1
vs PSCU
(%)
Expense
ratio
(bp)
Savings
vs PSCU
(bp)
ALTAR
Score™
(%)
ALTAR
vs PSCU
(%)
XSHD Invesco S&P SmallCap High Div Low Volatility 15.2 30 -1 8.1 +11.6
PBS Invesco Dyn Media Port 9.2 63 -34 6.3 +9.8
XTL SPDR S&P Telecom 8.5 35 -6 5.3 +8.8
SMDV ProShares Russell 2000 Dividend Growers 7.2 40 -11 5.5 +9.0
PXSG Invesco Fundamental Pure Small Growth 6.7 39 -10 4.7 +8.2
XSLV Invesco S&P SmallCap Low Volatility 6.7 25 4 6.8 +10.3
KSCD KFA Small Cap Quality Dividend Index 6.4 51 -22 4.8 +8.3
FIW First Trust ISE Water 5.7 55 -26 3.8 +7.3
SLYG SPDR S&P600 Small Cap Growth 4.6 15 14 4.6 +8.1
IJT iShares S&P 600 SmallCap Growth 4.6 25 4 4.5 +8.0
DES WisdomTree Smallcap Dividend 4.4 38 -9 7.2 +10.7
VIOG Vanguard S&P Small-Cap 600 Growth 4.3 20 9 4.5 +8.0
TBLU Tortoise Water Fund 4.3 40 -11 4.9 +8.4
UFO Procure Space 4.3 75 -46 2.0 +5.5
PUI Invesco DWA Utilities Momentum 4.2 60 -31 4.4 +7.9
SLY SPDR S&P 600 Small Cap 4.1 15 14 5.8 +9.3
IJR iShares Core S&P Small-Cap 4.1 7 22 5.8 +9.3
IFRA iShares U.S. Infrastructure 4.0 40 -11 5.7 +9.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity 3.9 29 0 4.2 +7.7
PHO Invesco Water Resources 3.9 60 -31 4.2 +7.7

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 Utilities
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 -10.9 %
Divided by: Fwd. P/BV 3.4 x
Less: Expense ratio 29 bp
Equals: ALTAR Score -3.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.82 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.