Invesco Dynamic Market
ALTAR
Score™
6.4% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
15.9x P/Sales
ratio
1.0x
P/BV
ratio
2.9x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco Dynamic Market Portfolio ETF tracks a quant-selected, tier-weighted index covering the entire U.S. equity market.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date May 01, 2003
Assets (mns) $146
Currency USD
Expense ratio 59 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 101
Wgt avg mkt cap (mns) $74,813
Large cap (>$10bn) 72.0%
Mid cap ($2-10bn) 17.8%
Small cap (<$2bn) 10.2%
Developed mkts 99.6%
Emerging mkts 0.4%

TOP TEN HOLDINGS
T-MOBILE US, INC. 3.7 %
QUALCOMM INC 3.6 %
VERIZON COMMUNICATIONS INC 3.5 %
VISA INC-CLASS A SHARES 3.5 %
APPLIED MATERIALS INC 3.4 %
INTEL CORP 3.2 %
SEAGATE TECHNOLOGY 3.2 %
ZOETIS INC 2.7 %
MONDELEZ INTERNATIONAL INC-A 2.7 %
PROCTER & GAMBLE CO/THE 2.6 %
Total 32.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.0 %
IRELAND 3.6 %
BERMUDA 2.0 %
CHINA 0.4 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
13.5% 13.5% 7.4% 11.4% 8.9%

Market Correlations
versus... Beta R-squared
S&P500 0.95 87%
MSCI EAFE 0.90 65%
MSCI Emg. Mkts. 0.57 44%

Technical Indicators
Recent close $100.83
30d moving avg. $98.82
Annualized volatility 12.3%
Short interest (ETF) 0.0%
Short interest (Underlying) 4.0%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.1%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $12,393

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PWC Expense: 59 bp ALTAR Score™: 6.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PWC
Ticker Fund
Name
Overlap1
vs PWC
(%)
Expense
ratio
(bp)
Savings
vs PWC
(bp)
ALTAR
Score™
(%)
ALTAR
vs PWC
(%)
USMF WisdomTree U.S. Multifactor Fund 19.1 28 31 6.1 -0.3
JKF iShares Morningstar Large Value 17.4 25 34 7.4 +1.0
FMK First Trust Mega Cap AlphaDEX 17.0 70 -11 5.4 -1.0
SCHD Schwab US Dividend Equity 16.6 6 53 7.0 +0.6
DGRW WisdomTree US Dividend Growth 16.4 28 31 7.1 +0.7
SPHQ Invesco S&P 500 Quality 16.2 15 44 5.4 -1.0
PWV Invesco Dynamic Large Cap Value 15.9 55 4 8.1 +1.7
SPVM Invesco S&P 500 Value with Momentum 15.8 39 20 7.9 +1.5
REVS Columbia Research Enhanced Value 15.5 19 40 7.2 +0.8
PKW Invesco Buyback Acheivevers 15.4 62 -3 5.7 -0.7
VFMF Vanguard U.S. Multifactor 14.9 18 41 6.8 +0.5
LSAF LeaderShares AlphaFactor US Core Equity 14.7 75 -16 6.1 -0.3
VUSE Vident Core US Equity 14.5 50 9 7.2 +0.8
FDLO Fidelity Low Volatility Factor 14.2 29 30 5.0 -1.3
VSMV VictoryShares US Multi-Factor Minimum Volatility 14.2 35 24 6.2 -0.2
QARP Xtrackers Russell 1000 US QARP 13.9 19 40 6.0 -0.3
MGV Vanguard Mega Cap 300 Value 13.8 7 52 6.8 +0.4
NULV NuShares ESG Large-Cap Value 13.5 35 24 6.5 +0.2
VALQ American Century STOXX U.S. Quality Value 13.4 29 30 8.7 +2.3
PFM Invesco Dividend Achievers 13.2 54 5 5.2 -1.2

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

  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 Dynamic Market
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.8 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 59 bp
Equals: ALTAR Score 6.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.55
 
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.