Invesco DWA Energy Momentum ETF
ALTAR
Score™
0.5% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
-12.3x P/Sales
ratio
0.9x
P/BV
ratio
0.9x Div.
yield
3.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco DWA Energy Momentum Portfolio tracks an index of U.S. energy 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) $37
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 42
Wgt avg mkt cap (mns) $19,834
Large cap (>$10bn) 41.3%
Mid cap ($2-10bn) 36.1%
Small cap (<$2bn) 22.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CHENIERE ENERGY INC 6.1 %
MATADOR RESOURCES CO 4.6 %
VALERO ENERGY CORP 4.5 %
WILLIAMS COS INC 4.4 %
PHILLIPS 66 4.1 %
APACHE CORP 4.0 %
CHEVRON CORP 3.8 %
TARGA RESOURCES CORP 3.7 %
CONOCOPHILLIPS 3.2 %
CONTINENTAL RESOURCES INC/OK 3.2 %
Total 41.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.7 %
BERMUDA 1.9 %
NETHERLANDS 1.3 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-45.6% -45.2% -16.8% -5.1% -3.2%

Market Correlations
versus... Beta R-squared
S&P500 2.30 68%
MSCI EAFE 2.54 70%
MSCI Emg. Mkts. 1.84 60%

Technical Indicators
Recent close $16.41
30d moving avg. $15.33
Annualized volatility 48.0%
Short interest (ETF) 2.3%
Short interest (Underlying) 7.4%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 19
Turnover 0.8%
Bid/Ask (% of price) 0.13%
ADV underlying (mns) $5,156

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco DWA Energy Momentum ETF ETF based on the alternatives' overlap in portfolio holdings with PXI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PXI Expense: 60 bp ALTAR Score™: 0.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PXI
Ticker Fund
Name
Overlap1
vs PXI
(%)
Expense
ratio
(bp)
Savings
vs PXI
(bp)
ALTAR
Score™
(%)
ALTAR
vs PXI
(%)
XOP SPDR S&P Oil & Gas Exploration & Production ETF 54.1 35 25 3.3 +2.9
FTXN First Trust Nasdaq Oil & Gas ETF 49.9 60 0 3.1 +2.6
JHME John Hancock Multifactor Energy ETF 49.4 40 20 3.7 +3.2
FXN First Trust Energy AlphaDEX Fund 47.7 65 -5 2.5 +2.0
RYE Invesco S&P 500 Equal Weight Energy ETF 45.5 40 20 3.6 +3.1
IEO iShares U.S. Oil & Gas Exploration & Production ETF 43.4 42 18 3.4 +2.9
PXE Invesco Dynamic Energy Exploration & Production ETF 38.8 63 -3 0.9 +0.4
FENY Fidelity MSCI Energy Index ETF 37.8 8 52 4.2 +3.8
VDE Vanguard Energy Index Fund 37.5 10 50 3.9 +3.4
FCG First Trust Natural Gas ETF 37.4 60 0 3.6 +3.2
IYE iShares U.S. Energy ETF 36.9 42 18 4.0 +3.6
XLE Energy Select Sector SPDR Fund 36.0 13 47 4.5 +4.1
FRAK VanEck Vectors Unconventional Oil & Gas ETF 30.6 54 6 1.5 +1.0
IGE iShares North American Natural Resources ETF 27.4 46 14 4.0 +3.6
PSCE Invesco S&P SmallCap Energy ETF 23.3 29 31 -2.4 -2.9
IXC iShares Global Energy ETF 22.8 46 14 5.9 +5.4
MLPX Global X MLP & Energy Infrastructure ETF 20.2 45 15 3.2 +2.7
USAI Pacer American Energy Independence ETF 19.7 75 -15 3.3 +2.9
ENFR Alerian Energy Infrastructure ETF 19.6 65 -5 4.8 +4.3
YMLP VanEck Vectors High Income MLP ETF 19.4 45 15 4.7 +4.3
RDIV Invesco S&P Ultra Dividend Revenue ETF 18.4 39 21 10.2 +9.8
EQRR ProShares Equities for Rising Rates ETF 18.4 35 25 6.6 +6.1
FILL iShares MSCI Global Energy Producers ETF 17.7 39 21 6.3 +5.9
TPYP Tortoise North American Pipeline Fund 17.0 40 20 5.6 +5.1
VSL Volshares Large Capital ETF 15.5 65 -5 2.7 +2.2
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 15.3 75 -15 3.1 +2.6
NANR SPDR S&P North American Natural Resources ETF 14.6 35 25 3.4 +3.0
CRAK VanEck Vectors Oil Refiners ETF 14.0 60 0 12.3 +11.9
GBDV Global Beta Smart Income ETF 13.9 29 31 8.2 +7.7
OIH VanEck Vectors Oil Services ETF 13.2 35 25 -2.4 -2.8
IEZ iShares U.S. Oil Equipment & Services ETF 13.1 42 18 0.8 +0.4
PMOM Principal Sustainable Momentum Index ETF 12.1 29 31 8.3 +7.8
XES SPDR S&P Oil & Gas Equipment & Services ETF 11.7 35 25 -1.8 -2.3
PVAL Principal Contrarian Value Index ETF 10.7 29 31 9.3 +8.9
PXJ Invesco Dynamic Oil & Gas Services ETF 10.4 63 -3 -0.2 -0.6
SPHB Invesco S&P 500 High Beta ETF 10.3 25 35 8.7 +8.3
SPYD SPDR S&P 500 High Dividend ETF 9.5 7 53 10.9 +10.4
DTN WisdomTree U.S. Dividend ex-Financials Fund 9.2 38 22 7.6 +7.2
HDV iShares Core High Dividend ETF 9.0 8 52 6.6 +6.1
MAGA Point Bridge GOP Stock Tracker ETF 8.9 72 -12 6.1 +5.7
HAP VanEck Vectors Natural Resources ETF 8.7 50 10 5.9 +5.4
FDVV Fidelity Core Dividend ETF 8.5 29 31 6.9 +6.4
GNR SPDR S&P Global Natural Resources ETF 8.3 40 20 6.3 +5.9
DHS WisdomTree U.S. High Dividend Fund 8.2 38 22 8.4 +8.0
GUNR Flexshares Morningstar Global Upstream Natural Resources 8.1 46 14 5.5 +5.0
JDIV JPMorgan U.S. Dividend ETF 7.5 12 48 7.5 +7.1
ONEY SPDR Russell 1000 Yield Focus ETF 7.4 20 40 8.8 +8.3
RPV Invesco S&P 500 Pure Value ETF 7.4 35 25 10.5 +10.0
DVY iShares Select Dividend ETF 7.1 39 21 9.2 +8.7
SPDV AAM S&P 500 High Dividend Value ETF 7.0 29 31 9.8 +9.3
SPVU Invesco S&P 500 Enhanced Value ETF 6.9 13 47 11.0 +10.6
SLT Salt TruBeta High Exposure ETF 6.7 29 31 8.7 +8.2
FOVL iShares Focused Value Factor ETF 6.6 25 35 9.7 +9.3
SYLD Cambria Shareholder Yield ETF 6.6 59 1 8.5 +8.1
DEW WisdomTree Global High Dividend Fund 6.5 58 2 9.1 +8.6
GRES IQ Global Resources ETF 6.5 77 -17 7.2 +6.8
IUS Invesco Strategic US ETF 6.4 19 41 6.2 +5.8
VLU SPDR S&P 1500 Value Tilt ETF 6.4 12 48 7.0 +6.6
EQAL Invesco Russell 1000 Equal Weight ETF 6.3 20 40 5.4 +4.9
QDIV Global X S&P 500 Quality Dividend ETF 6.2 20 40 7.3 +6.8
JKF iShares Morningstar Large Cap Value ETF 6.1 25 35 7.4 +7.0
DIV Global X SuperDividend US ETF 6.1 46 14 6.9 +6.4
DJD Invesco Dow Jones Industrial Average Dividend ETF 5.9 7 53 6.7 +6.2
IGF iShares Global Infrastructure ETF 5.9 46 14 5.4 +4.9
GII SPDR S&P Global Infrastructure ETF 5.8 40 20 5.4 +5.0
RWL Invesco S&P 500 Revenue ETF 5.8 39 21 6.8 +6.4
JKI iShares Morningstar Mid-Cap Value ETF 5.8 30 30 8.6 +8.2
FCPI Fidelity Stocks for Inflation ETF 5.8 29 31 6.6 +6.1
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 5.7 30 30 9.1 +8.6
DLN WisdomTree U.S. LargeCap Dividend Fund 5.7 28 32 6.2 +5.7
VYM Vanguard High Dividend Yield Index ETF 5.6 6 54 7.2 +6.7
FNDX Schwab Fundamental U.S. Large Co. Index ETF 5.6 25 35 6.1 +5.7
PRF Invesco FTSE RAFI US 1000 ETF 5.6 39 21 6.5 +6.0
AVUV Avantis U.S. Small Cap Value ETF 5.5 25 35 8.0 +7.6
SDOG ALPS Sector Dividend Dogs ETF 5.5 40 20 9.8 +9.4
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 5.5 35 25 8.2 +7.8
DTD WisdomTree U.S.Total Dividend Fund 5.4 28 32 6.4 +5.9
FNDB Schwab Fundamental U.S. Broad Market Index ETF 5.3 25 35 6.1 +5.7
USDY Pacific Global US Equity Income ETF 5.3 29 31 7.0 +6.5
DURA VanEck Vectors Morningstar Durable Dividend ETF 5.3 29 31 6.8 +6.4
HLAL Wahed FTSE USA Shariah ETF 5.2 50 10 4.3 +3.8
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 5.2 46 14 5.3 +4.8
SYV SPDR MFS Systematic Value Equity ETF 5.1 60 0 7.1 +6.7
OUSA O'Shares FTSE US Quality Dividend ETF 5.1 48 12 5.5 +5.1
EDOW First Trust Dow 30 Equal Weight ETF 5.1 50 10 5.7 +5.3
MGV Vanguard Mega Cap Value ETF 5.0 7 53 7.0 +6.6
DES WisdomTree U.S. SmallCap Dividend Fund 5.0 38 22 8.0 +7.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 4.8 19 41 5.8 +5.3
FTA First Trust Large Cap Value AlphaDEX Fund 4.7 60 0 8.9 +8.4
RZV Invesco S&P Smallcap 600 Pure Value ETF 4.7 35 25 7.1 +6.6
IWX iShares Russell Top 200 Value ETF 4.6 20 40 6.6 +6.1
SCHV Schwab U.S. Large-Cap Value ETF 4.6 4 56 6.9 +6.5
FYT First Trust Small Cap Value AlphaDEX Fund 4.6 72 -12 9.2 +8.8
IVE iShares S&P 500 Value ETF 4.6 18 42 7.0 +6.5
SPYV SPDR Portfolio S&P 500 Value ETF 4.6 4 56 7.1 +6.7
VOOV Vanguard S&P 500 Value ETF 4.6 15 45 7.0 +6.6
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 4.6 29 31 9.0 +8.6
FMK First Trust Mega Cap AlphaDEX Fund 4.5 70 -10 4.6 +4.2
LVUS Hartford Multifactor Low Volatility US Equity ETF 4.4 19 41 5.8 +5.4
IUSV iShares Core S&P U.S. Value ETF 4.4 4 56 7.2 +6.7

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 Energy 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 1.0 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 0.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 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.