Invesco Dynamic Semiconductors ETF
ALTAR
Score™
4.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
23.7x P/Sales
ratio
3.3x
P/BV
ratio
3.8x Div.
yield
1.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco Dynamic Semiconductors Portfolio ETF uses a quantitative model to select and weight semiconductor companies.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jun 23, 2005
Assets (mns) $276
Currency USD
Expense ratio 58 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian BNY Mellon
Weighting Tiered
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 31
Wgt avg mkt cap (mns) $56,627
Large cap (>$10bn) 54.7%
Mid cap ($2-10bn) 29.1%
Small cap (<$2bn) 16.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NVIDIA CORP 5.5 %
QUALCOMM INC 5.2 %
APPLIED MATERIALS INC 5.1 %
BROADCOM INC. 5.0 %
TEXAS INSTRUMENTS INC 5.0 %
MICRON TECHNOLOGY INC 4.8 %
ADVANCED MICRO DEVICES 4.8 %
INTEL CORP 4.3 %
ACM RESEARCH, INC. CLASS A 3.4 %
TERADYNE INC 3.3 %
Total 46.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.6 %
ISRAEL 2.5 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
9.1% 35.3% 22.9% 20.4% 12.0%

Market Correlations
versus... Beta R-squared
S&P500 1.35 68%
MSCI EAFE 1.30 55%
MSCI Emg. Mkts. 1.04 55%

Technical Indicators
Recent close $74.68
30d moving avg. $72.59
Annualized volatility 27.6%
Short interest (ETF) 0.5%
Short interest (Underlying) 5.3%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 35
Turnover 1.0%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $19,524

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco Dynamic Semiconductors ETF ETF based on the alternatives' overlap in portfolio holdings with PSI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PSI Expense: 58 bp ALTAR Score™: 4.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PSI
Ticker Fund
Name
Overlap1
vs PSI
(%)
Expense
ratio
(bp)
Savings
vs PSI
(bp)
ALTAR
Score™
(%)
ALTAR
vs PSI
(%)
SOXX iShares PHLX Semiconductor ETF 50.8 46 12 5.3 +0.5
FTXL First Trust Nasdaq Semiconductor ETF 50.8 60 -2 4.9 +0.2
SMH VanEck Vectors Semiconductor ETF 47.2 35 23 5.4 +0.6
XSD SPDR S&P Semiconductor ETF 45.2 35 23 4.0 -0.8
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 26.5 57 1 4.9 +0.1
JHMT John Hancock Multifactor Technology ETF 23.0 40 18 5.0 +0.2
XNTK SPDR NYSE Technology ETF 22.0 35 23 3.6 -1.2
BUL Pacer US Cash Cows Growth ETF 21.1 60 -2 6.2 +1.5
TDIV First Trust NASDAQ Technology Dividend Index Fund 20.8 50 8 5.8 +1.0
DRIV Global X Autonomous & Electric Vehicles ETF 20.4 68 -10 5.4 +0.6
TDV ProShares S&P Technology Dividend Aristocrats ETF 20.0 45 13 4.8 +0.0
QTUM Defiance Quantum ETF 18.9 40 18 5.7 +1.0
RYT Invesco S&P 500 Equal Weight Technology ETF 16.1 40 18 6.8 +2.1
IYW iShares U.S. Technology ETF 16.0 42 16 4.0 -0.8
XLK Technology Select Sector SPDR Fund 15.7 13 45 4.7 -0.0
QMOM Alpha Architect U.S. Quantitative Momentum ETF 15.6 49 9 2.2 -2.6
FXL First Trust Technology AlphaDEX Fund 15.2 61 -3 3.2 -1.5
FTEC Fidelity MSCI Information Technology Index ETF 14.4 8 50 4.6 -0.2
VGT Vanguard Information Technology Index Fund 14.2 10 48 4.6 -0.2
PTF Invesco DWA Technology Momentum ETF 13.6 60 -2 1.3 -3.5
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 13.5 70 -12 7.4 +2.7
GDAT Goldman Sachs Motif Data-Driven World Etf 13.2 50 8 4.9 +0.1
KOIN Innovation Shares NextGen Protocol ETF 13.1 95 -37 4.3 -0.4
MOTO SmartETFs Smart Transportation & Technology ETF 12.9 68 -10 7.4 +2.6
AIQ Global X Future Analytics Tech ETF 12.6 68 -10 3.9 -0.9
IXN iShares Global Tech ETF 12.6 46 12 4.5 -0.3
PEXL Pacer US Export Leaders ETF 12.5 60 -2 6.1 +1.3
FFTY Innovator IBD 50 ETF 12.4 80 -22 3.5 -1.3
FIVG Defiance Next Gen Connectivity ETF 12.3 30 28 4.9 +0.1
IGM iShares Expanded Tech Sector ETF 12.1 46 12 3.8 -1.0
IDRV iShares Self-driving EV & Tech ETF 12.1 47 11 6.9 +2.2
TECB iShares US Tech Breakthrough Multisector ETF 12.0 40 18 4.0 -0.8
VSL Volshares Large Capital ETF 11.9 65 -7 6.9 +2.1
LRNZ TrueMark Technology, AI & Deep Learning ETF 11.7 68 -10 0.8 -3.9
VEGN US Vegan Climate ETF 11.5 60 -2 5.2 +0.5
EKAR Innovation Shares NextGen Vehicles & Technology ETF 11.3 95 -37 8.0 +3.3
QYLD Global X NASDAQ 100 Covered Call ETF 11.2 60 -2 3.5 -1.3
NUSI Nationwide Risk-Managed Income ETF 11.1 68 -10 3.5 -1.3
VLUE iShares Edge MSCI USA Value Factor ETF 11.0 15 43 11.5 +6.7
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 11.0 59 -1 4.2 -0.6
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 11.0 35 23 4.4 -0.3
SPHQ Invesco S&P 500 Quality ETF 10.8 15 43 4.6 -0.1
RDVY First Trust Rising Dividend Achievers ETF 10.6 50 8 8.0 +3.2
QQQ Invesco QQQ Trust 10.4 20 38 3.8 -1.0
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 10.4 60 -2 5.5 +0.7
NXTG First Trust Indxx NextG ETF 10.3 70 -12 6.1 +1.4
ESPO VanEck Vectors Video Gaming & eSports ETF 10.2 55 3 2.7 -2.1
IQM Franklin Intelligent Machines ETF 10.2 50 8 2.0 -2.7
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 10.0 19 39 5.7 +0.9
LOUP Innovator Loup Frontier Tech ETF 9.7 70 -12 3.9 -0.8
QGRO American Century STOXX U.S. Quality Growth ETF 9.7 29 29 3.2 -1.6
SPMO Invesco S&P 500 Momentum ETF 9.5 13 45 4.4 -0.4
RPG Invesco S&P 500 Pure Growth ETF 9.2 35 23 4.4 -0.3
RNDV US Equity Dividend Select ETF 9.0 50 8 7.7 +3.0
PSCT Invesco S&P SmallCap Information Technology ETF 9.0 29 29 5.7 +1.0
LEGR First Trust Index Digital Transaction & Process Technology E 9.0 65 -7 7.1 +2.4
JVAL JPMorgan U.S. Value Factor ETF 8.9 12 46 8.8 +4.1
PWV Invesco Dynamic Large Cap Value ETF 8.7 55 3 8.9 +4.1
RFDA RiverFront Dynamic US Dividend Advantage ETF 8.6 52 6 5.0 +0.3
MTUM iShares Edge MSCI USA Momentum Factor ETF 8.6 15 43 4.1 -0.7
SCHD Schwab U.S. Dividend Equity ETF 8.5 6 52 8.3 +3.5
PWB Invesco Dynamic Large Cap Growth ETF 8.5 55 3 3.4 -1.4
RNLC Large Cap US Equity Select ETF 8.3 60 -2 6.3 +1.5
DURA VanEck Vectors Morningstar Durable Dividend ETF 8.2 29 29 7.3 +2.5
PWC Invesco Dynamic Market ETF 8.1 59 -1 4.9 +0.1
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 8.0 99 -41 2.3 -2.4
IETC iShares Evolved U.S. Technology ETF 8.0 18 40 3.8 -1.0
FMK First Trust Mega Cap AlphaDEX Fund 7.9 70 -12 5.2 +0.4
PXQ Invesco Dynamic Networking ETF 7.7 63 -5 4.1 -0.7
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 7.7 21 37 2.9 -1.9
SPHB Invesco S&P 500 High Beta ETF 7.5 25 33 9.7 +4.9
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 7.5 49 9 9.5 +4.7
ALTL Pacer Lunt Large Cap Alternator ETF 7.5 60 -2 9.3 +4.6
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 7.5 75 -17 2.0 -2.7
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 7.4 49 9 4.1 -0.7
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 7.4 50 8 3.9 -0.9
VFMF Vanguard U.S. Multifactor ETF 7.4 19 39 7.3 +2.5
VFMO Vanguard U.S. Momentum Factor ETF 7.3 13 45 1.2 -3.6
JKE iShares Morningstar Large-Cap Growth ETF 7.3 25 33 2.8 -1.9
LRGF iShares Edge MSCI Multifactor USA ETF 7.2 20 38 7.4 +2.7
QDYN FlexShares Quality Dividend Dynamic Index Fund 7.2 37 21 6.2 +1.5
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 7.2 49 9 5.2 +0.5
JKF iShares Morningstar Large Cap Value ETF 7.1 25 33 7.6 +2.8
VYM Vanguard High Dividend Yield Index ETF 7.0 6 52 7.4 +2.6
FTC First Trust Large Cap Growth AlphaDEX Fund 7.0 61 -3 2.9 -1.8
DGRW WisdomTree U.S. Quality Dividend Growth Fund 6.9 28 30 6.5 +1.8
DSTL Distillate US Fundamental Stability & Value ETF 6.7 39 19 6.6 +1.8
SPMV Invesco S&P 500 Minimum Variance ETF 6.7 10 48 5.9 +1.1
BLCN Reality Shares Nasdaq NextGen Economy ETF 6.6 68 -10 4.0 -0.8
JMOM JPMorgan U.S. Momentum Factor ETF 6.6 12 46 3.9 -0.9
ACWF iShares FactorSelect MSCI Global ETF 6.5 35 23 8.0 +3.2
DWLD Davis Select Worldwide ETF 6.5 63 -5 6.4 +1.6
NULG Nuveen ESG Large-Cap Growth ETF 6.5 35 23 3.6 -1.2
HLAL Wahed FTSE USA Shariah ETF 6.4 50 8 4.6 -0.1
JSML Janus Henderson Small Cap Growth Alpha ETF 6.4 30 28 7.9 +3.1
BOUT Innovator IBD Breakout Opportunities ETF 6.4 84 -26 3.2 -1.6
RFFC RiverFront Dynamic US Flex-Cap ETF 6.4 52 6 4.7 -0.0
DHS WisdomTree U.S. High Dividend Fund 6.3 38 20 8.7 +4.0
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 6.3 75 -17 6.2 +1.4
FLQL Franklin LibertyQ U.S. Equity ETF 6.3 15 43 6.3 +1.6

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 Dynamic Semiconductors 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 18.6 %
Divided by: Fwd. P/BV 3.5 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 CATEGORY
AVERAGE
1.52
 
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.