Invesco DWA Healthcare Momentum ETF
ALTAR
Score™
-2.5% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
-97.0x P/Sales
ratio
5.2x
P/BV
ratio
10.7x Div.
yield
0.1%


  • 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) $623
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 48
Wgt avg mkt cap (mns) $40,215
Large cap (>$10bn) 41.3%
Mid cap ($2-10bn) 33.0%
Small cap (<$2bn) 23.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMEDISYS INC 5.0 %
DANAHER CORP 4.8 %
THERMO FISHER SCIENTIFIC INC 4.6 %
REPLIGEN CORP 4.2 %
INVITAE CORP. 3.9 %
HORIZON PHARMA PLC 3.8 %
IDEXX LABORATORIES INC 3.7 %
WEST PHARMACEUTICAL SERVICES 3.5 %
UNITEDHEALTH GROUP INC 3.4 %
HUMANA INC 3.1 %
Total 40.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.3 %
IRELAND 3.8 %









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.
55.3% 65.0% 21.3% 19.5% 13.6%

Market Correlations
versus... Beta R-squared
S&P500 0.98 46%
MSCI EAFE 0.82 31%
MSCI Emg. Mkts. 0.76 34%

Technical Indicators
Recent close $148.65
30d moving avg. $145.05
Annualized volatility 27.1%
Short interest (ETF) 1.1%
Short interest (Underlying) 7.3%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 44
Turnover 1.1%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $4,958

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco DWA Healthcare Momentum ETF 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™: -2.5%


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
(%)
IEHS iShares Evolved U.S. Healthcare Staples ETF 19.2 18 42 5.4 +8.0
HELX Franklin Genomic Advancements ETF 18.7 50 10 -1.1 +1.5
XLV Health Care Select Sector SPDR Fund 18.4 13 47 7.3 +9.8
IYH iShares U.S. Healthcare ETF 18.3 43 17 6.3 +8.8
FXH First Trust Health Care AlphaDEX Fund 18.2 62 -2 5.0 +7.5
FHLC Fidelity MSCI Health Care Index ETF 18.1 8 52 5.6 +8.1
VHT Vanguard Health Care Index Fund 17.6 10 50 5.4 +7.9
IHI iShares U.S. Medical Devices ETF 16.9 42 18 3.3 +5.8
JHMH John Hancock Multifactor Healthcare ETF 16.4 40 20 6.1 +8.6
RYH Invesco S&P 500 Equal Weight Health Care ETF 16.0 40 20 6.8 +9.3
BMED BlackRock Future Health ETF 15.7 85 -25 -1.1 +1.4
BTEC Principal Healthcare Innovators Index ETF 15.4 42 18 -1.9 +0.6
HTEC ROBO Global Healthcare Technology & Innovation ETF 15.2 68 -8 0.1 +2.6
PWB Invesco Dynamic Large Cap Growth ETF 14.8 56 4 3.3 +5.8
IDNA iShares Genomics Immunology & Healthcare ETF 13.9 47 13 -2.4 +0.1
IXJ iShares Global Healthcare ETF 13.5 46 14 6.4 +8.9
ARKG ARK Genomic Revolution ETF 12.9 75 -15 -2.2 +0.4
DWAS Invesco DWA SmallCap Momentum ETF 12.7 60 0 -1.5 +1.0
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 12.1 60 0 3.6 +6.1
PDP Invesco DWA Momentum ETF 12.0 62 -2 2.0 +4.5
XPH SPDR S&P Pharmaceuticals ETF 11.6 35 25 3.8 +6.3
XHE SPDR S&P Health Care Equipment ETF 10.8 35 25 1.6 +4.1
XBI SPDR S&P BIOTECH ETF 10.2 35 25 -2.0 +0.6
EDOC Global X Telemedicine & Digital Health ETF 10.2 68 -8 0.7 +3.2
IHF iShares U.S. Healthcare Providers ETF 10.2 42 18 7.2 +9.7
XHS SPDR S&P Health Care Services ETF 9.6 35 25 3.9 +6.4
VIRS Pacer BioThreat Strategy ETF 9.5 70 -10 4.6 +7.1
IHE iShares U.S. Pharmaceuticals ETF 9.4 42 18 5.2 +7.8
MTUM iShares MSCI USA Momentum Factor ETF 9.2 15 45 4.0 +6.5
IBBJ Defiance Nasdaq Junior Biotechnology ETF 9.1 45 15 -1.9 +0.6
FTXH First Trust Nasdaq Pharmaceuticals ETF 8.4 60 0 6.9 +9.4
LEAD Reality Shares DIVCON Leaders Dividend ETF 8.3 43 17 4.3 +6.8
ARKK ARK Innovation ETF 8.2 75 -15 -2.2 +0.3
IEIH iShares Evolved U.S. Innovative Healthcare ETF 8.2 18 42 3.4 +5.9
BBC Virtus LifeSci Biotech Clinical Trials ETF 8.1 79 -19 0.0 +2.5
PAWZ ProShares Pet Care ETF 7.6 50 10 2.5 +5.0
IBB iShares NASDAQ Biotechnology ETF 7.5 46 14 0.6 +3.1
FPX First Trust US IPO Index Fund 7.5 58 2 1.3 +3.8
FIW First Trust Water ETF 7.3 55 5 3.4 +5.9
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 7.3 12 48 4.6 +7.1
GNOM Global X Genomics & Biotechnology ETF 7.3 50 10 -3.1 -0.5
FTC First Trust Large Cap Growth AlphaDEX Fund 7.3 61 -1 2.4 +4.9
FFTY Innovator IBD 50 ETF 7.0 80 -20 3.8 +6.4
FDMO Fidelity Momentum Factor ETF 7.0 29 31 3.2 +5.7
OLD The Long-Term Care ETF 6.8 30 30 5.8 +8.3
JKD iShares Morningstar Large-Cap ETF 6.7 20 40 5.4 +7.9
QGRO American Century STOXX U.S. Quality Growth ETF 6.7 29 31 3.1 +5.7
CACG ClearBridge All Cap Growth ETF 6.7 54 6 4.1 +6.6
SPMO Invesco S&P 500 Momentum ETF 6.6 13 47 4.0 +6.5
BFTR Future Innovators ETF 6.6 80 -20 -0.1 +2.4
DFND Reality Shares DIVCON Dividend Defender ETF 6.6 144 -84 3.6 +6.1
LRGE ClearBridge Large Cap Growth ESG ETF 6.5 59 1 3.6 +6.1
ACSI American Customer Satisfaction Core Alpha ETF 6.5 66 -6 3.7 +6.2
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 6.4 30 30 5.3 +7.8
IQM Franklin Intelligent Machines ETF 6.2 50 10 1.6 +4.1
JMOM JPMorgan U.S. Momentum Factor ETF 6.2 12 48 3.2 +5.8
SCHG Schwab U.S. Large-Cap Growth ETF 6.1 4 56 3.4 +5.9
MOO VanEck Vectors Agribusiness ETF 6.1 56 4 4.9 +7.4
FNY First Trust Mid Cap Growth AlphaDEX Fund 6.0 70 -10 1.8 +4.3
FAD First Trust Multi Cap Growth AlphaDEX Fund 6.0 66 -6 2.0 +4.5
FTCS First Trust Capital Strength ETF 5.8 58 2 5.1 +7.6
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 5.8 25 35 5.7 +8.2
JKK iShares Morningstar Small-Cap Growth ETF 5.8 30 30 0.9 +3.5
RFG Invesco S&P Midcap 400 Pure Growth ETF 5.6 35 25 3.7 +6.3
IWO iShares Russell 2000 Growth ETF 5.4 24 36 -0.1 +2.5
VFMO Vanguard U.S. Momentum Factor ETF 5.3 13 47 0.3 +2.8
DEF Invesco Defensive Equity ETF 5.2 55 5 5.1 +7.6
PSET Principal Price Setters Index ETF 5.2 15 45 4.7 +7.2
AFSM First Trust Active Factor Small Cap ETF 5.1 75 -15 5.2 +7.7
ANEW ProShares MSCI Transformational Changes ETF 5.0 45 15 3.1 +5.6
XMMO Invesco S&P MidCap Momentum ETF 5.0 34 26 3.9 +6.4
PWC Invesco Dynamic Market ETF 4.9 58 2 5.6 +8.1
AFLG First Trust Active Factor Large Cap ETF 4.9 55 5 4.9 +7.4
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 4.9 60 0 3.5 +6.0
VBK Vanguard Small-Cap Growth Index Fund 4.9 7 53 2.0 +4.5
PBE Invesco Dynamic Biotechnology & Genome ETF 4.9 58 2 -2.4 +0.1
CWS AdvisorShares Focused Equity ETF 4.8 85 -25 5.3 +7.8
PIO Invesco Global Water ETF 4.8 75 -15 3.7 +6.2
PHO Invesco Water Resources ETF 4.8 60 0 3.3 +5.8
TTAC TrimTabs All Cap U.S. Free-Cash-Flow ETF 4.8 59 1 3.8 +6.3
ACIO Aptus Collared Income Opportunity ETF 4.8 79 -19 4.4 +6.9
MMLG First Trust Multi-Manager Large Growth ETF 4.8 85 -25 2.0 +4.6
FDLO Fidelity Low Volatility Factor ETF 4.7 29 31 5.0 +7.5
PEXL Pacer US Export Leaders ETF 4.7 60 0 5.5 +8.0
VTWG Vanguard Russell 2000 Growth Index Fund 4.7 15 45 -0.0 +2.5
PPH VanEck Vectors Pharmaceutical ETF 4.7 36 24 11.0 +13.5
SPLV Invesco S&P 500 Low Volatility ETF 4.6 25 35 5.5 +8.0
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 4.6 15 45 6.3 +8.8
VSDA VictoryShares Dividend Accelerator ETF 4.5 35 25 4.6 +7.2
JKH iShares Morningstar Mid-Cap Growth ETF 4.5 30 30 1.9 +4.4
NULG Nuveen ESG Large-Cap Growth ETF 4.4 35 25 3.6 +6.1
AFMC First Trust Active Factor Mid Cap ETF 4.3 65 -5 5.9 +8.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 4.3 12 48 4.2 +6.7
ADME Aptus Drawdown Managed Equity ETF 4.2 79 -19 3.5 +6.0
SPXT ProShares S&P 500 Ex-Technology ETF 4.2 27 33 5.2 +7.7
JMIN JPMorgan U.S. Minimum Volatility ETF 4.2 12 48 5.3 +7.8
JKE iShares Morningstar Large-Cap Growth ETF 4.1 25 35 2.9 +5.4
ESGV Vanguard ESG U.S. Stock ETF 4.1 12 48 4.7 +7.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 4.1 60 0 3.8 +6.3

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 DWA Healthcare Momentum ETF
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 -22.0 %
Divided by: Fwd. P/BV 11.5 x
Less: Expense ratio 60 bp
Equals: ALTAR Score -2.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.27 CATEGORY
AVERAGE
1.49
 
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.