Invesco S&P MidCap Value with Momentum ETF
ALTAR
Score™
8.6% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
11.6x P/Sales
ratio
0.5x
P/BV
ratio
1.2x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco Fundamental Pure Mid Value Portfolio is based on the RAFIŽ Fundamental Mid Value Index. The Index is comprised of common stocks of "mid value" U.S. companies, including real estate investment trusts (REITs), from a universe comprised of the 2,500 largest U.S. companies.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Mar 03, 2005
Assets (mns) $79
Currency USD
Expense ratio 39 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Multi-Factor
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 81
Wgt avg mkt cap (mns) $4,535
Large cap (>$10bn) 0.9%
Mid cap ($2-10bn) 93.4%
Small cap (<$2bn) 5.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GENWORTH FINANCIAL INC-CL A 2.4 %
AVIS BUDGET GROUP INC 2.1 %
SYNNEX CORP 2.0 %
TECH DATA CORP 2.0 %
AUTONATION INC 2.0 %
DANA HOLDING CORP 1.9 %
TOLL BROTHERS INC 1.9 %
DILLARDS INC-CL A 1.9 %
WORLD FUEL SERVICES CORP 1.8 %
AVNET INC 1.8 %
Total 19.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.9 %
BERMUDA 1.0 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.9% 11.9% 7.2% -- 10.6%

Market Correlations
versus... Beta R-squared
S&P500 0.91 66%
MSCI EAFE 0.90 53%
MSCI Emg. Mkts. 0.61 43%

Technical Indicators
Recent close $35.32
30d moving avg. $34.85
Annualized volatility 13.6%
Short interest (ETF) 0.9%
Short interest (Underlying) 4.4%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 14
Turnover 0.6%
Bid/Ask (% of price) 0.46%
ADV underlying (mns) $2,765

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P MidCap Value with Momentum ETF ETF based on the alternatives' overlap in portfolio holdings with PXMV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PXMV Expense: 39 bp ALTAR Score™: 8.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PXMV
Ticker Fund
Name
Overlap1
vs PXMV
(%)
Expense
ratio
(bp)
Savings
vs PXMV
(bp)
ALTAR
Score™
(%)
ALTAR
vs PXMV
(%)
RWK Invesco S&P MidCap 400 Revenue ETF 37.8 39 0 7.4 -1.2
RFV Invesco S&P Midcap 400 Pure Value 37.3 35 4 10.8 +2.2
IJJ iShares S&P MidCap 400 Value 29.4 25 14 7.6 -1.0
MDYV SPDR S&P400 Mid Cap Value 29.4 15 24 7.7 -0.9
IVOV Vanguard S&P Mid-Cap 400 Value 29.4 15 24 7.7 -0.9
AFMC First Trust Active Factor Mid Cap 23.3 65 -26 6.7 -1.9
FNK First Trust Mid Cap Value AlphaDEX 21.6 70 -31 9.1 +0.5
EWMC Invesco S&P Mid Cap 400 Equal Weight 19.5 40 -1 6.2 -2.4
XMLV Invesco S&P MidCap Low Volatility 19.2 25 14 5.5 -3.1
MDY S&P MidCap 400 SPDR 18.8 23 16 5.5 -3.1
SPMD SPDR Portfolio Mid Cap 18.8 5 34 5.7 -2.9
IJH iShares Core S&P MidCap 18.7 6 33 5.7 -2.9
IVOO Vanguard S&P Mid-Cap 400 18.7 10 29 5.7 -2.9
SMDY Syntax Stratified MidCap 18.4 30 9 6.2 -2.4
JKL iShares Morningstar Small Cap Value 17.6 30 9 8.7 +0.1
EZM WisdomTree Midcap Earnings 17.2 38 1 8.4 -0.2
VAMO Cambria Value & Momentum 15.2 64 -25 6.7 -1.9
SYLD Cambria Shareholder Yield 15.2 59 -20 9.1 +0.5
KBWR Invesco KBW Regional Bank 14.6 35 4 8.5 -0.1
VUSE Vident Core US Equity 14.4 48 -9 7.6 -1.0

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

Content on this tab for subscribers only

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 S&P MidCap Value with Momentum ETF
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 10.2 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 8.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.68 CATEGORY
AVERAGE
1.56
 
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.