Invesco S&P MidCap Value with Momentum ETF
ALTAR
Score™
10.3% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
13.7x P/Sales
ratio
0.4x
P/BV
ratio
0.9x Div.
yield
2.3%


  • 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) $44
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 80
Wgt avg mkt cap (mns) $3,546
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 88.6%
Small cap (<$2bn) 11.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
WORLD FUEL SERVICES CORP 2.3 %
TECH DATA CORP 2.3 %
SYNNEX CORP 2.2 %
CNO FINANCIAL GROUP INC 2.1 %
AUTONATION INC 2.0 %
GENWORTH FINANCIAL INC-CL A 2.0 %
COMMERCIAL METALS CO 2.0 %
MANPOWER INC 2.0 %
DANA HOLDING CORP 1.9 %
JABIL CIRCUIT INC 1.9 %
Total 20.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.6 %
IRELAND 0.9 %
BERMUDA 0.8 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-22.9% -16.5% 2.4% -- 7.5%

Market Correlations
versus... Beta R-squared
S&P500 1.17 81%
MSCI EAFE 1.26 81%
MSCI Emg. Mkts. 0.92 68%

Technical Indicators
Recent close $26.37
30d moving avg. $27.29
Annualized volatility 22.1%
Short interest (ETF) 0.0%
Short interest (Underlying) 4.4%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.3%
Bid/Ask (% of price) 0.61%
ADV underlying (mns) $3,775

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 10.3%


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
(%)
RFV Invesco S&P Midcap 400 Pure Value ETF 39.7 35 4 10.8 +0.4
RWK Invesco S&P MidCap 400 Revenue ETF 37.0 39 0 8.2 -2.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 27.5 15 24 8.7 -1.7
MDYV SPDR S&P 400 Mid Cap Value ETF 27.3 15 24 8.8 -1.6
IJJ iShares S&P Mid-Cap 400 Value ETF 27.3 25 14 8.7 -1.7
JKL iShares Morningstar Small Cap Value ETF 22.4 30 9 10.5 +0.1
EWMC Invesco S&P MidCap 400 Equal Weight ETF 19.9 40 -1 7.3 -3.1
FNK First Trust Mid Cap Value AlphaDEX Fund 18.8 70 -31 10.4 +0.0
SMDY Syntax Stratified MidCap ETF 17.7 30 9 6.4 -3.9
MDY SPDR S&P Midcap 400 ETF Trust 17.1 23 16 6.5 -3.8
IJH iShares Core S&P Mid-Cap ETF 17.0 6 33 6.7 -3.7
SPMD SPDR Portfolio Mid Cap ETF 17.0 5 34 6.7 -3.7
EQWM Invesco S&P MidCap Quality ETF 17.0 25 14 6.5 -3.9
IVOO Vanguard S&P Mid-Cap 400 ETF 16.9 10 29 6.5 -3.8
EZM WisdomTree U.S. MidCap Earnings Fund 16.8 38 1 9.3 -1.0
AFMC First Trust Active Factor Mid Cap ETF 15.8 65 -26 6.4 -4.0
VUSE Vident Core US Equity Fund 14.6 48 -9 8.4 -2.0
VBR Vanguard Small Cap Value Index Fund 14.5 7 32 8.5 -1.9
AVUV Avantis U.S. Small Cap Value ETF 13.8 25 14 9.5 -0.9
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 13.7 60 -21 8.6 -1.7
KBWR Invesco KBW Regional Banking ETF 13.1 35 4 11.6 +1.2
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 12.9 29 10 9.9 -0.4
QVAL Alpha Architect U.S. Quantitative Value ETF 12.6 49 -10 12.4 +2.1
JHSC John Hancock Multifactor Small Cap ETF 12.4 42 -3 6.0 -4.4
VAMO Cambria Value & Momentum ETF 12.4 64 -25 7.7 -2.6
FNX First Trust Mid Cap Core AlphaDEX Fund 12.1 61 -22 6.4 -3.9
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 11.2 80 -41 5.7 -4.7
JKJ iShares Morningstar Small-Cap ETF 10.7 25 14 6.8 -3.6
RFG Invesco S&P Midcap 400 Pure Growth ETF 10.5 35 4 4.0 -6.4
KBE SPDR S&P Bank ETF 10.4 35 4 11.7 +1.4
KIE SPDR S&P Insurance ETF 9.9 35 4 10.3 -0.1
XMMO Invesco S&P MidCap Momentum ETF 9.9 39 0 4.7 -5.6
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 9.9 38 1 9.2 -1.2
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 9.8 35 4 9.6 -0.8
RNMC Mid Cap US Equity Select ETF 9.7 60 -21 7.8 -2.5
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 9.7 7 32 5.5 -4.8
PSC Principal U.S. Small Cap Index ETF 9.7 38 1 7.1 -3.2
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 9.4 20 19 9.6 -0.8
PAVE Global X U.S. Infrastructure Development ETF 9.2 47 -8 5.8 -4.5
BKSE BNY Mellon US Small Cap Core Equity ETF 9.0 4 35 5.7 -4.6
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 9.0 30 9 7.9 -2.5
KRE SPDR S&P Regional Banking ETF 9.0 35 4 11.5 +1.2
IWN iShares Russell 2000 Value ETF 8.9 24 15 7.4 -3.0
VTWV Vanguard Russell 2000 Value Index Fund 8.9 15 24 7.5 -2.8
DON WisdomTree U.S. MidCap Dividend Fund 8.6 38 1 7.8 -2.6
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 8.6 48 -9 5.8 -4.6
IJK iShares S&P Mid-Cap 400 Growth ETF 8.6 24 15 4.9 -5.4
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 8.5 15 24 5.0 -5.4
MDYG SPDR S&P 400 Mid Cap Growth ETF 8.5 15 24 5.0 -5.3
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 8.4 63 -24 7.1 -3.3
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 8.3 40 -1 6.2 -4.1
QABA First Trust NASDAQ ABA Community Bank Index Fund 8.2 60 -21 10.8 +0.5
TPHD Timothy Plan High Dividend Stock ETF 8.2 52 -13 7.7 -2.6
FXO First Trust Financials AlphaDEX Fund 8.1 63 -24 11.8 +1.5
ISMD Inspire Small/Mid Cap Impact ETF 8.1 60 -21 6.6 -3.8
IFRA iShares U.S. Infrastructure ETF 8.0 40 -1 6.1 -4.3
NUSC Nuveen ESG Small-Cap ETF 7.9 40 -1 5.4 -4.9
PVAL Principal Contrarian Value Index ETF 7.8 29 10 10.2 -0.2
XMLV Invesco S&P MidCap Low Volatility ETF 7.8 25 14 5.6 -4.7
SCHA Schwab U.S. Small-Cap ETF 7.7 4 35 4.7 -5.6
IAT iShares U.S. Regional Banks ETF 7.7 42 -3 11.2 +0.8
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 7.5 17 22 5.2 -5.1
FYT First Trust Small Cap Value AlphaDEX Fund 7.4 72 -33 9.7 -0.7
FAB First Trust Multi Cap Value AlphaDEX Fund 7.3 71 -32 9.7 -0.7
FSMD Fidelity Small-Mid Factor ETF 7.3 29 10 7.1 -3.2
VB Vanguard Small-Cap ETF 7.2 5 34 5.4 -4.9
PBSM Invesco PureBeta MSCI USA Small Cap ETF 7.1 6 33 5.4 -4.9
DES WisdomTree U.S. SmallCap Dividend Fund 7.1 38 1 8.8 -1.5
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 7.0 24 15 7.3 -3.0
HOMZ Hoya Capital Housing ETF 6.9 45 -6 7.8 -2.5
SQLV Legg Mason Small-Cap Quality Value 6.8 62 -23 8.0 -2.4
FXD First Trust Consumer Discretionary AlphaDEX Fund 6.8 64 -25 7.9 -2.5
SYLD Cambria Shareholder Yield ETF 6.7 59 -20 9.0 -1.3
ROGS Hartford Multifactor Global Small Cap ETF 6.6 34 5 8.0 -2.3
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 6.6 35 4 8.4 -2.0
PYZ Invesco DWA Basic Materials Momentum ETF 6.6 60 -21 6.1 -4.3
DVP Deep Value ETF 6.5 59 -20 12.2 +1.9
VFVA Vanguard U.S. Value Factor ETF 6.5 14 25 11.7 +1.3
SDY SPDR S&P Dividend ETF 6.4 35 4 7.0 -3.3
PKB Invesco Dynamic Building & Construction ETF 6.4 60 -21 6.8 -3.5
FOVL iShares Focused Value Factor ETF 6.3 25 14 10.6 +0.2
SFYX Sofi Next 500 ETF 6.3 0 39 6.0 -4.4
FLM First Trust Global Engineering & Construction ETF 6.1 70 -31 9.1 -1.2
XRT SPDR S&P Retail ETF 6.0 35 4 6.9 -3.5
ITB iShares U.S. Home Construction ETF 5.9 42 -3 8.6 -1.8
PEXL Pacer US Export Leaders ETF 5.9 60 -21 6.1 -4.3
TPSC Timothy Plan US Small Cap Core ETF 5.9 52 -13 8.4 -2.0
AIRR First Trust RBA American Industrial Renaissance ETF 5.8 70 -31 7.4 -3.0
BUY USCF SummerHaven SHPEI Index Fund 5.6 80 -41 10.4 +0.1
IAK iShares U.S. Insurance ETF 5.6 43 -4 9.9 -0.4
SCHM Schwab U.S. Mid-Cap ETF 5.6 4 35 6.3 -4.0
QSY WisdomTree U.S. LargeCap Value Fund 5.5 38 1 6.9 -3.4
VXF Vanguard Extended Market Index Fund 5.5 7 32 3.8 -6.5
VFMF Vanguard U.S. Multifactor ETF 5.2 19 20 7.3 -3.0
FNDA Schwab Fundamental U.S. Small Co. Index ETF 5.2 25 14 6.8 -3.5
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 5.2 35 4 8.3 -2.0
SYV SPDR MFS Systematic Value Equity ETF 5.1 60 -21 7.5 -2.8
AUSF Global X Adaptive U.S. Factor ETF 5.1 27 12 8.0 -2.3
JVAL JPMorgan U.S. Value Factor ETF 5.0 12 27 8.8 -1.5
ONEV SPDR Russell 1000 Low Volatility Focus ETF 4.9 20 19 7.1 -3.2

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

  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 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 9.3 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 10.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 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.