Invesco DWA Healthcare Momentum
ALTAR
Score™
-1.2% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
299.4x P/Sales
ratio
4.5x
P/BV
ratio
7.1x Div.
yield
0.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco DWA Healthcare Momentum Portfolio tracks an index of U.S. healthcare firms selected and weighted by price momentum.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Oct 12, 2006
Assets (mns) $132
Currency USD
Expense ratio 60 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 45
Wgt avg mkt cap (mns) $21,657
Large cap (>$10bn) 41.4%
Mid cap ($2-10bn) 33.5%
Small cap (<$2bn) 25.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
INSULET CORP 4.5 %
THERMO FISHER SCIENTIFIC INC 4.4 %
MASIMO CORPORATION 4.4 %
EXACT SCIENCES CORP 4.2 %
DEXCOM INC 4.2 %
EDWARDS LIFESCIENCES CORP 4.0 %
HUMANA INC 3.7 %
MEDICINES COMPANY 3.4 %
ACADIA PHARMACEUTICALS INC 3.4 %
BECTON DICKINSON AND CO 3.2 %
Total 39.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 100.0 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
26.6% 8.1% 11.0% 15.2% 10.4%

Market Correlations
versus... Beta R-squared
S&P500 1.38 49%
MSCI EAFE 1.01 22%
MSCI Emg. Mkts. 0.76 20%

Technical Indicators
Recent close $91.32
30d moving avg. $83.98
Annualized volatility 23.8%
Short interest (ETF) 0.0%
Short interest (Underlying) 7.3%
Relative strength (RSI) 80

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.3%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $4,821

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco DWA Healthcare Momentum ETF based on the alternatives' overlap in portfolio holdings with PTH. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PTH Expense: 60 bp ALTAR Score™: -1.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PTH
Ticker Fund
Name
Overlap1
vs PTH
(%)
Expense
ratio
(bp)
Savings
vs PTH
(bp)
ALTAR
Score™
(%)
ALTAR
vs PTH
(%)
IHI iShares DJ US Medical Devices 28.5 43 17 3.8 +5.0
XHE SPDR S&P Health Care Equipment 28.4 35 25 2.1 +3.3
IEHS iShares Evolved U.S. Healthcare Staples 22.9 18 42 5.9 +7.1
FXH First Trust Health Care Alphadex 21.0 63 -3 7.0 +8.3
DWAQ Invesco DWA NASDAQ Momentum Portfolio 20.9 60 0 0.5 +1.7
HTEC Robo Global Healthcare Technology and Innovation 20.0 68 -8 -0.0 +1.2
PSCH Invesco S&P Small Cap Health Care 17.7 29 31 2.5 +3.7
BTEC Principal Healthcare Innovators Index 17.2 42 18 -4.2 -3.0
XBI SPDR S&P Biotech ETF 15.6 35 25 -4.4 -3.2
IYH iShares US Healthcare 15.4 43 17 6.3 +7.5
FHLC Fidelity MSCI Health Care 15.2 8 52 5.8 +7.0
GDNA Goldman Sachs Motif Human Evolution 15.0 50 10 1.0 +2.3
VHT Vanguard Health Care 15.0 10 50 5.9 +7.1
RYH Invesco S&P Equal Weight Healthcare 14.7 40 20 7.0 +8.2
LNGR Global X Longevity Thematic 14.4 50 10 3.3 +4.5
JHMH John Hancock Multifactor Health Care 14.3 40 20 6.6 +7.8
XLV Health Care Select Sector SPDR 14.0 13 47 7.2 +8.4
SLIM Obesity 12.9 35 25 2.1 +3.4
DWAS Invesco DWA Smallcap Technology 12.8 60 0 0.4 +1.7
BBC Virtus LifeSci Biotech Clinical Trials 10.3 79 -19 -11.1 -9.9

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 DWA Healthcare Momentum
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 -4.2 %
Divided by: Fwd. P/BV 6.7 x
Less: Expense ratio 60 bp
Equals: ALTAR Score -1.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.30 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.