Invesco Dynamic Networking ETF
ALTAR
Score™
3.7% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
24.5x P/Sales
ratio
3.8x
P/BV
ratio
3.7x Div.
yield
0.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco Dynamic Networking Portfolio tracks a quantitatively driven index that selects 30 US networking companies it believes will outperform, weighting them in tiers.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Jun 23, 2005
Assets (mns) $48
Currency USD
Expense ratio 63 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 31
Wgt avg mkt cap (mns) $115,072
Large cap (>$10bn) 59.3%
Mid cap ($2-10bn) 29.1%
Small cap (<$2bn) 11.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 5.7 %
MOTOROLA SOLUTIONS 5.2 %
QUALCOMM INC 5.0 %
CISCO SYSTEMS INC 4.9 %
VMWARE INC-CLASS A 4.7 %
AMPHENOL CORP-CL A 4.7 %
GARMIN LTD 4.7 %
CHECK POINT SOFTWARE TECH 4.7 %
SECUREWORKS CORP. CLASS A 3.6 %
INPHI CORP 3.1 %
Total 46.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 77.0 %
ISRAEL 9.6 %
SWITZERLAND 4.7 %
BRITAIN 2.9 %







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.
1.9% 16.8% 14.1% 14.2% 10.7%

Market Correlations
versus... Beta R-squared
S&P500 1.10 64%
MSCI EAFE 0.94 39%
MSCI Emg. Mkts. 0.59 26%

Technical Indicators
Recent close $64.06
30d moving avg. $63.46
Annualized volatility 16.6%
Short interest (ETF) 0.4%
Short interest (Underlying) 6.2%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.4%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $14,170

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PXQ Expense: 63 bp ALTAR Score™: 3.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PXQ
Ticker Fund
Name
Overlap1
vs PXQ
(%)
Expense
ratio
(bp)
Savings
vs PXQ
(bp)
ALTAR
Score™
(%)
ALTAR
vs PXQ
(%)
HACK ETFMG Prime Cyber Security 28.3 60 3 3.1 -0.6
IGN iShares S&P N. American Tech- MM & Networking 27.4 46 17 6.1 +2.4
IHAK iShares Cybersecurity & Tech 26.9 47 16 4.2 +0.5
CIBR First Trust NASDAQ Cybersecurity 25.7 60 3 3.4 -0.3
IYZ iShares U.S. Telecommunications 23.3 42 21 7.4 +3.7
XTL SPDR S&P Telecom 21.1 35 28 4.8 +1.1
FITE SPDR Kensho Future Security 21.0 45 18 4.2 +0.5
BUL Pacer US Cash Cows Growth 17.5 60 3 7.1 +3.4
TDIV First Trust NASDAQ Technology Dividend 17.3 50 13 6.4 +2.7
JHMT John Hancock Multifactor Technology 17.1 40 23 5.6 +1.9
FIVG Defiance Next Gen Connectivity ETF 15.9 30 33 4.8 +1.1
SKYY First Trust Cloud Computing 14.5 60 3 2.3 -1.4
PKW Invesco Buyback Acheivevers 13.2 62 1 6.4 +2.7
FDN First Trust DJ Internet 13.1 52 11 2.9 -0.8
RYT Invesco S&P Equal Weight Technology 13.0 40 23 6.1 +2.4
TDV ProShares S&P Technology Dividend Aristocrats 12.8 45 18 5.2 +1.5
QTEC First Trust NASDAQ 100 Tech 12.3 57 6 5.1 +1.4
IYW iShares US Technology 12.1 42 21 4.6 +0.9
GDAT Goldman Sachs Motif Data-Driven World 12.0 50 13 5.3 +1.6
XLK Technology Select Sector SPDR 11.8 13 50 5.0 +1.3

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%.

Content on this tab for subscribers only**

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

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.6 %
Divided by: Fwd. P/BV 3.6 x
Less: Expense ratio 63 bp
Equals: ALTAR Score 3.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 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.