Invesco DWA Healthcare Momentum ETF
ALTAR
Score™
-2.4% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
-142.1x P/Sales
ratio
7.3x
P/BV
ratio
11.6x 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) $358
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 43
Wgt avg mkt cap (mns) $25,923
Large cap (>$10bn) 33.9%
Mid cap ($2-10bn) 43.8%
Small cap (<$2bn) 22.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NOVAVAX INC 8.1 %
WEST PHARMACEUTICAL SERVICES 4.3 %
MASIMO CORPORATION 4.2 %
AXSOME THERAPEUTICS, INC. 4.0 %
MODERNA, INC. 3.9 %
EHEALTH INC 3.5 %
AMEDISYS INC 3.2 %
TELADOC INC 3.1 %
THERMO FISHER SCIENTIFIC INC 3.0 %
QUIDEL CORP 3.0 %
Total 40.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.3 %
IRELAND 2.1 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
3.1% 26.8% 11.3% 14.6% 10.8%

Market Correlations
versus... Beta R-squared
S&P500 1.07 48%
MSCI EAFE 0.89 29%
MSCI Emg. Mkts. 0.72 30%

Technical Indicators
Recent close $111.93
30d moving avg. $104.51
Annualized volatility 25.7%
Short interest (ETF) 0.8%
Short interest (Underlying) 7.3%
Relative strength (RSI) 69

Liquidity measures
Avg. volume (thou.) 47
Turnover 1.5%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $8,774

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: -2.4%


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
(%)
FXH First Trust Health Care AlphaDEX Fund 24.9 62 -2 4.4 +6.8
XBI SPDR S&P BIOTECH ETF 20.7 35 25 -3.9 -1.5
BTEC Principal Healthcare Innovators Index ETF 19.2 42 18 -2.6 -0.3
BBC Virtus LifeSci Biotech Clinical Trials ETF 17.9 79 -19 0.0 +2.4
JHMH John Hancock Multifactor Healthcare ETF 17.4 40 20 6.0 +8.4
FHLC Fidelity MSCI Health Care Index ETF 17.4 8 52 5.6 +8.0
IYH iShares U.S. Healthcare ETF 17.4 43 17 6.1 +8.5
VHT Vanguard Health Care Index Fund 17.3 10 50 5.5 +7.8
IBB iShares NASDAQ Biotechnology ETF 16.2 47 13 0.4 +2.8
HTEC ROBO Global Healthcare Technology & Innovation ETF 15.4 68 -8 0.6 +3.0
IEIH iShares Evolved U.S. Innovative Healthcare ETF 15.1 18 42 3.9 +6.3
XLV Health Care Select Sector SPDR Fund 15.0 13 47 7.0 +9.4
DWAS Invesco DWA SmallCap Momentum ETF 14.5 60 0 -1.1 +1.3
PBE Invesco Dynamic Biotechnology & Genome ETF 13.9 57 3 -1.0 +1.4
VFMO Vanguard U.S. Momentum Factor ETF 13.4 13 47 2.2 +4.5
IDNA iShares Genomics Immunology & Healthcare ETF 13.0 47 13 -2.6 -0.3
RYH Invesco S&P 500 Equal Weight Health Care ETF 13.0 40 20 6.5 +8.9
FTCS First Trust Capital Strength ETF 12.7 60 0 5.0 +7.4
IXJ iShares Global Healthcare ETF 12.4 46 14 6.3 +8.7
GDNA Goldman Sachs Motif Human Evolution ETF 12.3 50 10 0.3 +2.7
XHE SPDR S&P Health Care Equipment ETF 12.2 35 25 1.9 +4.3
HELX Franklin Genomic Advancements ETF 11.9 50 10 -1.9 +0.5
LNGR Global X Longevity Thematic ETF 11.9 50 10 3.2 +5.6
BBH VanEck Vectors Biotech ETF 11.6 35 25 3.8 +6.2
IEHS iShares Evolved U.S. Healthcare Staples ETF 11.4 18 42 5.6 +8.0
XMMO Invesco S&P MidCap Momentum ETF 11.3 39 21 4.3 +6.7
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 11.3 39 21 6.2 +8.6
MTUM iShares Edge MSCI USA Momentum Factor ETF 11.0 15 45 4.8 +7.2
PDP Invesco DWA Momentum ETF 10.5 62 -2 2.9 +5.3
XPH SPDR S&P Pharmaceuticals ETF 10.5 35 25 4.8 +7.2
AIEQ AI Powered Equity ETF 10.5 87 -27 3.6 +6.0
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 10.5 99 -39 2.2 +4.6
FNY First Trust Mid Cap Growth AlphaDEX Fund 10.4 70 -10 2.2 +4.5
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 10.3 75 -15 2.2 +4.6
IHF iShares U.S. Healthcare Providers ETF 10.3 43 17 7.2 +9.6
FBT First Trust NYSE Arca Biotechnology Index Fund 10.2 57 3 -1.0 +1.4
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 10.0 60 0 3.5 +5.9
SBIO ALPS Medical Breakthroughs ETF 10.0 50 10 -1.2 +1.2
FDMO Fidelity Momentum Factor ETF 9.5 29 31 4.0 +6.4
CACG ClearBridge All Cap Growth ETF 9.3 54 6 4.6 +7.0
CNCR Loncar Cancer Immunotherapy ETF 9.1 79 -19 -3.3 -1.0
RBUS Nationwide Risk-Based U.S. Equity ETF 8.9 30 30 5.2 +7.6
FVL First Trust Value Line 100 Exchange-Traded Fund 8.9 70 -10 4.1 +6.5
XHS SPDR S&P Health Care Services ETF 8.8 35 25 5.4 +7.8
RFG Invesco S&P Midcap 400 Pure Growth ETF 8.7 35 25 4.0 +6.4
IHI iShares U.S. Medical Devices ETF 8.5 43 17 3.5 +5.9
JKK iShares Morningstar Small-Cap Growth ETF 8.5 30 30 1.4 +3.8
PJP Invesco Dynamic Pharmaceuticals ETF 8.5 56 4 11.0 +13.4
EQWM Invesco S&P MidCap Quality ETF 8.5 25 35 5.0 +7.3
IWO iShares Russell 2000 Growth ETF 8.2 24 36 0.8 +3.2
LEAD Reality Shares DIVCON Leaders Dividend ETF 8.0 43 17 4.4 +6.8
VTWG Vanguard Russell 2000 Growth Index Fund 7.9 15 45 0.9 +3.3
VBK Vanguard Small-Cap Growth Index Fund 7.9 7 53 2.7 +5.1
PWB Invesco Dynamic Large Cap Growth ETF 7.5 55 5 3.6 +6.0
JKE iShares Morningstar Large-Cap Growth ETF 7.3 25 35 3.6 +6.0
LRGE ClearBridge Large Cap Growth ESG ETF 7.2 60 0 4.0 +6.4
IHE iShares U.S. Pharmaceuticals ETF 7.1 42 18 5.3 +7.7
QGRO American Century STOXX U.S. Quality Growth ETF 7.1 29 31 3.2 +5.6
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 7.0 12 48 4.9 +7.3
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 7.0 35 25 5.3 +7.6
ENTR Entrepreneur 30 Fund 6.9 49 11 3.2 +5.6
MDYG SPDR S&P 400 Mid Cap Growth ETF 6.9 15 45 4.9 +7.3
IJK iShares S&P Mid-Cap 400 Growth ETF 6.9 24 36 4.8 +7.2
FAD First Trust Multi Cap Growth AlphaDEX Fund 6.8 66 -6 2.7 +5.1
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 6.8 60 0 3.9 +6.2
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 6.8 15 45 4.8 +7.2
FPX First Trust US IPO Index Fund 6.7 59 1 4.4 +6.8
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 6.7 60 0 6.3 +8.7
BOUT Innovator IBD Breakout Opportunities ETF 6.6 80 -20 2.9 +5.3
IWY iShares Russell Top 200 Growth ETF 6.5 20 40 4.4 +6.8
NULG Nuveen ESG Large-Cap Growth ETF 6.4 35 25 3.5 +5.9
AUSF Global X Adaptive U.S. Factor ETF 6.4 27 33 8.4 +10.8
OLD The Long-Term Care ETF 6.3 35 25 6.6 +9.0
TTAC TrimTabs Float Shrink ETF 6.2 59 1 3.7 +6.1
DGRW WisdomTree U.S. Quality Dividend Growth Fund 6.1 28 32 6.6 +9.0
DFND Reality Shares DIVCON Dividend Defender ETF 6.1 121 -61 3.7 +6.1
DEF Invesco Defensive Equity ETF 6.0 55 5 5.2 +7.6
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 6.0 30 30 7.8 +10.2
PSCH Invesco S&P SmallCap Health Care ETF 6.0 29 31 3.1 +5.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 6.0 12 48 5.2 +7.6
AFMC First Trust Active Factor Mid Cap ETF 5.8 65 -5 6.4 +8.8
FTXH First Trust Nasdaq Pharmaceuticals ETF 5.7 60 0 7.1 +9.5
VONG Vanguard Russell 1000 Growth Index Fund 5.6 8 52 4.5 +6.9
IWF iShares Russell 1000 Growth ETF 5.6 19 41 4.4 +6.8
FTC First Trust Large Cap Growth AlphaDEX Fund 5.5 61 -1 3.1 +5.5
GNOM Global X Genomics & Biotechnology ETF 5.5 68 -8 -3.7 -1.3
PXSG Invesco S&P SmallCap Momentum ETF 5.5 39 21 5.2 +7.6
ACIO Aptus Collared Income Opportunity ETF 5.5 79 -19 4.6 +7.0
AFSM First Trust Active Factor Small Cap ETF 5.5 75 -15 6.4 +8.8
MGV Vanguard Mega Cap Value ETF 5.5 7 53 7.2 +9.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 5.4 60 0 4.6 +7.0
MFMS Motley Fool Small-Cap Growth ETF 5.4 85 -25 -1.9 +0.5
CCOR Core Alternative ETF 5.3 123 -63 4.3 +6.7
BIBL Inspire ETF 5.3 35 25 4.9 +7.3
JMOM JPMorgan U.S. Momentum Factor ETF 5.3 12 48 4.0 +6.4
OUSA O'Shares FTSE US Quality Dividend ETF 5.2 48 12 5.8 +8.1
PSET Principal Price Setters Index ETF 5.2 29 31 4.8 +7.2
VFMV Vanguard U.S. Minimum Volatility ETF 5.1 13 47 4.0 +6.4
SPXT ProShares S&P 500 Ex-Technology ETF 5.1 27 33 5.8 +8.2
XLG Invesco S&P 500 Top 50 ETF 5.0 20 40 4.7 +7.1

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 -21.2 %
Divided by: Fwd. P/BV 11.8 x
Less: Expense ratio 60 bp
Equals: ALTAR Score -2.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.24 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.