Invesco Dynamic Large Cap Value
ALTAR
Score™
8.2% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
12.5x P/Sales
ratio
1.3x
P/BV
ratio
2.1x Div.
yield
2.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco Dynamic Large Cap Value Portfolio ETF tracks the Dynamic Large Cap Value Intellidex Index. The index selects its holdings using a 10-factor style isolation process and uses a tiered weighting scheme.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Mar 03, 2005
Assets (mns) $1,127
Currency USD
Expense ratio 55 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 51
Wgt avg mkt cap (mns) $139,034
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
INTEL CORP 3.9 %
CISCO SYSTEMS INC 3.6 %
JOHNSON & JOHNSON 3.6 %
INTL BUSINESS MACHINES CORP 3.5 %
GENERAL ELECTRIC CO 3.4 %
CITIGROUP INC 3.4 %
PFIZER INC 3.4 %
AT&T INC 3.4 %
COMCAST CORP-CL A 3.3 %
BANK OF AMERICA CORP 3.3 %
Total 34.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.4 %
IRELAND 2.8 %
SWITZERLAND 1.4 %
BRITAIN 1.3 %







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.
29.9% 29.9% 8.1% 11.9% 9.6%

Market Correlations
versus... Beta R-squared
S&P500 0.96 86%
MSCI EAFE 0.87 57%
MSCI Emg. Mkts. 0.55 40%

Technical Indicators
Recent close $41.27
30d moving avg. $41.41
Annualized volatility 12.6%
Short interest (ETF) 0.3%
Short interest (Underlying) 2.0%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 164
Turnover 0.6%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $16,120

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PWV Expense: 55 bp ALTAR Score™: 8.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PWV
Ticker Fund
Name
Overlap1
vs PWV
(%)
Expense
ratio
(bp)
Savings
vs PWV
(bp)
ALTAR
Score™
(%)
ALTAR
vs PWV
(%)
JKF iShares Morningstar Large Value 50.2 25 30 7.4 -0.7
REVS Columbia Research Enhanced Value 40.0 19 36 7.2 -0.9
IWX iShares Russell Top 200 Value 39.3 20 35 6.7 -1.5
RAFE PIMCO RAFI ESG U.S. ETF 38.3 29 26 7.6 -0.5
SPVU Invesco S&P 500 Value 37.1 13 42 10.4 +2.2
FMK First Trust Mega Cap AlphaDEX 35.9 70 -15 5.4 -2.8
MGV Vanguard Mega Cap 300 Value 35.4 7 48 6.9 -1.3
OYLD Invesco Russell 1000 Yield Factor ETF 35.4 19 36 6.9 -1.3
ACIO Aptus Collared Income Opportunity 34.3 79 -24 6.8 -1.3
VYM Vanguard High Dividend Yield ETF 33.9 6 49 7.0 -1.1
VLUE iShares MSCI USA Value Factor 33.3 15 40 10.5 +2.3
SCHV Schwab U.S. Large-Cap Value 32.0 4 51 6.7 -1.4
HDV iShares High Dividend 31.6 8 47 7.0 -1.2
SYV SPDR MFS Systematic Value Equity 31.5 60 -5 7.0 -1.2
OVLU Invesco Russell 1000 Value Factor ETF 31.1 19 36 7.6 -0.6
DHS WisdomTree Equity Income 30.6 38 17 7.7 -0.4
SPYV SPDR Portfolio S&P 500 Value 30.4 4 51 7.0 -1.2
IVE iShares S&P 500 Value 30.3 18 37 6.9 -1.3
VOOV Vanguard S&P 500 Value 30.0 15 40 6.8 -1.4
NULV NuShares ESG Large-Cap Value 29.8 35 20 6.6 -1.6

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 Large Cap Value
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 16.2 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 8.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 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.