Invesco Global Listed Private Equity ETF
ALTAR
Score™
5.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
18.5x P/Sales
ratio
1.9x
P/BV
ratio
0.6x Div.
yield
4.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco Global Listed Private Equity Portfolio seeks investment results that correspond generally to the price and yield of the Red Rocks Listed Private Equity Index, which includes more than 30 U.S. publicly listed companies with direct investments in more than 1,000 private businesses.

FUND BASICS
Category Global Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Oct 24, 2006
Assets (mns) $156
Currency USD
Expense ratio 178 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Tiered
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 64
Wgt avg mkt cap (mns) $10,088
Large cap (>$10bn) 33.6%
Mid cap ($2-10bn) 33.1%
Small cap (<$2bn) 31.4%
Developed mkts 96.4%
Emerging mkts 3.6%

TOP TEN HOLDINGS
IAC/INTERACTIVECORP 6.5 %
WESFARMERS LIMITED 6.1 %
PARTNERS GROUP HOLDING AG 5.9 %
3I GROUP PLC 5.0 %
KKR & CO LP 3.4 %
KINNEVIK AB CLASS B 3.2 %
BLACKSTONE GROUP LP/THE 3.1 %
MELROSE INDUSTRIES PLC 2.9 %
FOSUN INTERNATIONAL 2.7 %
ONEX CORPORATION 2.6 %
Total 41.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 34.7 %
BRITAIN 11.4 %
SWITZERLAND 7.1 %
AUSTRALIA 6.0 %
SWEDEN 4.9 %
FRANCE 4.3 %
GERMANY 3.0 %
CANADA 3.0 %
CHINA 2.7 %
JAPAN 2.0 %

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.
-16.0% -5.7% 3.8% 9.4% -0.4%

Market Correlations
versus... Beta R-squared
S&P500 1.33 85%
MSCI EAFE 1.47 90%
MSCI Emg. Mkts. 1.07 75%

Technical Indicators
Recent close $10.41
30d moving avg. $10.28
Annualized volatility 24.5%
Short interest (ETF) 1.3%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 234
Turnover 1.6%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $1,739

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PSP Expense: 178 bp ALTAR Score™: 5.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PSP
Ticker Fund
Name
Overlap1
vs PSP
(%)
Expense
ratio
(bp)
Savings
vs PSP
(bp)
ALTAR
Score™
(%)
ALTAR
vs PSP
(%)
PEX ProShares Global Listed Private Equity ETF 30.7 313 -135 6.3 +1.0
BIZD VanEck Vectors BDC Income ETF 13.0 962 -784 5.3 +0.1
KCE SPDR S&P Capital Markets ETF 5.9 35 143 9.0 +3.8
GFIN Goldman Sachs Motif Finance Reimagined ETF 5.7 50 128 5.4 +0.2
SOCL Global X Social Media ETF 5.2 65 113 2.0 -3.2
KBWD Invesco KBW High Dividend Yield Financial ETF 4.2 158 20 16.0 +10.8
PFI Invesco DWA Financial Momentum ETF 4.1 60 118 3.6 -1.7
EWA iShares MSCI Australia ETF 3.9 50 128 6.3 +1.1
IEME iShares Evolved U.S. Media & Entertainment ETF 3.7 18 160 7.3 +2.1
FKU First Trust United Kingdom AlphaDEX Fund 3.6 80 98 9.4 +4.2
FLAU Franklin FTSE Australia ETF 3.6 9 169 6.9 +1.6
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 3.1 60 118 5.4 +0.2
EUDV ProShares MSCI Europe Dividend Growers ETF 3.1 55 123 5.7 +0.4
PBS Invesco Dynamic Media ETF 3.0 63 115 5.2 0.0
EUFN iShares MSCI Europe Financials ETF 3.0 48 130 12.0 +6.7
IBUY Amplify Online Retail ETF 3.0 65 113 -1.5 -6.8
XWEB SPDR S&P Internet ETF 2.7 35 143 -0.2 -5.4
CHII Global X China Industrials ETF 2.7 66 112 12.7 +7.4
FSZ First Trust Switzerland AlphaDEX Fund 2.7 80 98 6.3 +1.0
FCAN First Trust Canada AlphaDex Fund 2.6 80 98 4.9 -0.4
GURU Global X Guru Index ETF 2.5 75 103 3.9 -1.4
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 2.4 20 158 9.6 +4.3
PEJ Invesco Dynamic Leisure & Entertainment ETF 2.3 63 115 1.3 -3.9
EPP iShares MSCI Pacific ex-Japan ETF 2.3 48 130 6.7 +1.5
FAUS First Trust Australia AlphaDEX Fund 2.3 80 98 7.9 +2.7
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 2.2 19 159 7.0 +1.8
AXJL WisdomTree Asia Pacific ex-Japan Fund 2.2 48 130 9.7 +4.5
IDOG ALPS International Sector Dividend Dogs ETF 2.1 50 128 11.1 +5.8
DOO WisdomTree International Dividend ex-Financials Fund 2.1 58 120 8.9 +3.6
JHCS John Hancock Multifactor Media & Communications ETF 2.1 40 138 5.6 +0.3
MILN Global X Millennials Thematic ETF 2.1 50 128 2.5 -2.8
SMEZ SPDR EURO STOXX Small Cap ETF 2.1 45 133 6.4 +1.2
BOSS Global X Founder-Run Companies ETF 2.0 45 133 3.7 -1.5
QINT American Century Quality Diversified International ETF 2.0 39 139 5.9 +0.7
VFH Vanguard Financials Index Fund 2.0 10 168 9.0 +3.8
FNCL Fidelity MSCI Financials Index ETF 2.0 8 170 9.0 +3.8
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 2.0 24 154 7.4 +2.1
FEP First Trust Europe AlphaDEX Fund 1.9 80 98 7.9 +2.6
FDT First Trust Developed Markets ex-US Alphadex Fund 1.8 80 98 7.7 +2.5
DWCR Arrow DWA Country Rotation ETF 1.8 95 83 17.6 +12.3
EWGS iShares MSCI Germany Small Cap ETF 1.8 59 119 5.2 -0.1
ETHO Etho Climate Leadership U.S. ETF 1.7 47 131 4.4 -0.8
RNDM Developed International Equity Select ETF 1.7 65 113 6.5 +1.3
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.7 58 120 8.0 +2.7
VXF Vanguard Extended Market Index Fund 1.7 7 171 3.8 -1.4
IDHQ Invesco S&P International Developed Quality ETF 1.7 29 149 5.2 -0.1
EFAD ProShares MSCI EAFE Dividend Growers ETF 1.7 50 128 6.1 +0.9
RFEU First Trust Riverfront Dynamic Europe ETF 1.6 83 95 5.5 +0.2
FDEV Fidelity Targeted International Factor ETF 1.6 39 139 6.6 +1.4
EWL iShares MSCI Switzerland ETF 1.6 50 128 5.2 -0.1
OEUR O'shares FTSE Europe Quality Dividend ETF 1.6 48 130 6.7 +1.5
EWD iShares MSCI Sweden ETF 1.5 55 123 11.9 +6.7
FDVV Fidelity Core Dividend ETF 1.5 29 149 7.2 +2.0
IQLT iShares Edge MSCI Intl Quality Factor ETF 1.5 30 148 6.2 +0.9
FTC First Trust Large Cap Growth AlphaDEX Fund 1.4 61 117 2.9 -2.3
IYG iShares US Financial Services ETF 1.4 42 136 7.0 +1.8
PWV Invesco Dynamic Large Cap Value ETF 1.4 55 123 8.9 +3.7
INTF iShares Edge MSCI Multifactor Intl ETF 1.4 30 148 8.1 +2.8
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 1.4 20 158 11.3 +6.1
FLSW Franklin FTSE Switzerland ETF 1.3 9 169 5.6 +0.4
PWC Invesco Dynamic Market ETF 1.3 59 119 4.9 -0.3
EWUS iShares MSCI United Kingdom Small Cap ETF 1.3 59 119 8.6 +3.3
EFAV iShares Edge MSCI Min Vol EAFE ETF 1.3 20 158 5.5 +0.3
FCOM Fidelity MSCI Telecommunication Services Index ETF 1.3 8 170 5.0 -0.2
IQDF FlexShares International Quality Dividend Index Fund 1.3 47 131 12.6 +7.3
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 1.3 83 95 5.4 +0.2
VOX Vanguard Telecommunication Services Index Fund 1.3 10 168 4.9 -0.3
WWJD Inspire International ESG ETF 1.3 80 98 7.7 +2.4
WLDR Affinity World Leaders Equity ETF 1.3 47 131 9.7 +4.4
DIV Global X SuperDividend US ETF 1.2 46 132 7.1 +1.9
VAMO Cambria Value & Momentum ETF 1.2 64 114 7.8 +2.5
IPKW Invesco International BuyBack Achievers ETF 1.2 55 123 8.8 +3.6
IDMO Invesco S&P International Developed Momentum ETF 1.2 26 152 4.6 -0.6
IEFN iShares Evolved U.S. Financials ETF 1.2 18 160 9.5 +4.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 1.1 58 120 6.4 +1.1
IQDG WisdomTree International Quality Dividend Growth Fund 1.1 38 140 6.5 +1.3
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 1.1 30 148 7.5 +2.3
AFSM First Trust Active Factor Small Cap ETF 1.1 75 103 5.8 +0.5
VOT Vanguard Mid-Cap Growth Index Fund 1.1 7 171 3.5 -1.7
JHMF John Hancock Multifactor Financials ETF 1.1 40 138 7.9 +2.7
QEFA SPDR MSCI EAFE Quality Mix ETF 1.1 30 148 7.0 +1.7
JKH iShares Morningstar Mid-Cap Growth ETF 1.1 30 148 2.3 -3.0
IQDE FlexShares International Quality Dividend Defensive Index Fd 1.0 47 131 12.5 +7.2
FLGB Franklin FTSE United Kingdom ETF 1.0 9 169 7.7 +2.5
BFOR Barron's 400 ETF 1.0 65 113 6.4 +1.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 1.0 29 149 8.8 +3.6
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 1.0 61 117 5.1 -0.2
PSET Principal Price Setters Index ETF 1.0 29 149 4.6 -0.6
VO Vanguard Mid-Cap Index Fund 1.0 4 174 5.5 +0.3
FAD First Trust Multi Cap Growth AlphaDEX Fund 1.0 66 112 2.5 -2.7
PIZ Invesco DWA Developed Markets Momentum ETF 1.0 81 97 4.3 -1.0
TDIV First Trust NASDAQ Technology Dividend Index Fund 1.0 50 128 5.9 +0.7
PSCU Invesco S&P SmallCap Utilities ETF 1.0 29 149 3.3 -1.9
RXI iShares Global Consumer Discretionary ETF 1.0 46 132 5.4 +0.1
XKCP SPDR Kensho Clean Power ETF 1.0 45 133 0.4 -4.9
VIDI Vident International Equity Fund 1.0 59 119 11.7 +6.4
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 1.0 35 143 8.7 +3.5
NUMV Nuveen ESG Mid-Cap Value ETF 1.0 40 138 7.8 +2.6
BLOK Amplify Transformational Data Sharing ETF 1.0 70 108 4.9 -0.3
BLCN Reality Shares Nasdaq NextGen Economy ETF 1.0 68 110 4.2 -1.0

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 Global Listed Private Equity 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 4.2 %
Divided by: Fwd. P/BV 0.6 x
Less: Expense ratio 178 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 CATEGORY
AVERAGE
1.50
 
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.