Invesco DWA Basic Materials Momentum ETF
ALTAR
Score™
4.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
35.6x P/Sales
ratio
1.3x
P/BV
ratio
2.6x Div.
yield
1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco DWA Basic Materials Momentum Portfolio tracks an index of U.S. basic materials 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) $52
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 30
Wgt avg mkt cap (mns) $15,887
Large cap (>$10bn) 46.9%
Mid cap ($2-10bn) 49.1%
Small cap (<$2bn) 4.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FREEPORT-MCMORAN COPPER 4.6 %
CLEVELAND-CLIFFS INC 4.5 %
ALBEMARLE CORP 4.2 %
UNITED STATES STEEL CORP 4.2 %
AVERY DENNISON CORP 4.1 %
MOSAIC CO/THE 4.0 %
LIVENT CORPORATION 3.8 %
AVANTOR, INC. 3.7 %
CORTEVA INC 3.6 %
EASTMAN CHEMICAL COMPANY 3.6 %
Total 40.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.5 %
BRITAIN 3.5 %









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.
15.3% 15.3% 9.2% 8.6% 8.7%

Market Correlations
versus... Beta R-squared
S&P500 1.36 86%
MSCI EAFE 1.34 82%
MSCI Emg. Mkts. 1.13 74%

Technical Indicators
Recent close $74.74
30d moving avg. $73.08
Annualized volatility 27.7%
Short interest (ETF) 1.6%
Short interest (Underlying) 4.6%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 13
Turnover 1.9%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $4,791

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco DWA Basic Materials Momentum ETF ETF based on the alternatives' overlap in portfolio holdings with PYZ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PYZ Expense: 60 bp ALTAR Score™: 4.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PYZ
Ticker Fund
Name
Overlap1
vs PYZ
(%)
Expense
ratio
(bp)
Savings
vs PYZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs PYZ
(%)
XME SPDR S&P Metals & Mining ETF 31.2 35 25 5.1 +0.9
RTM Invesco S&P 500 Equal Weight Materials ETF 29.7 40 20 4.7 +0.5
PSCM Invesco S&P SmallCap Materials ETF 24.4 29 31 6.8 +2.6
VAW Vanguard Materials Index Fund 22.8 10 50 5.0 +0.8
IYM iShares U.S. Basic Materials ETF 22.8 43 17 4.4 +0.3
FMAT Fidelity MSCI Materials Index ETF 22.2 8 52 5.0 +0.8
FXZ First Trust Materials AlphaDEX Fund 22.2 65 -5 5.7 +1.5
JHMA John Hancock Multifactor Materials ETF 19.9 40 20 5.3 +1.2
XLB Materials Select Sector SPDR Fund 19.3 13 47 4.8 +0.6
NANR SPDR S&P North American Natural Resources ETF 11.6 35 25 3.1 -1.1
SLX VanEck Vectors Steel ETF 9.6 56 4 9.8 +5.7
CUT Invesco MSCI Global Timber ETF 9.0 61 -1 7.1 +2.9
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 9.0 46 14 5.0 +0.8
VEGI iShares MSCI Global Agriculture Producers ETF 8.8 39 21 4.3 +0.2
FTAG First Trust Indxx Global Agriculture ETF 8.3 70 -10 5.1 +0.9
MOO VanEck Vectors Agribusiness ETF 8.0 56 4 4.5 +0.3
EQRR ProShares Equities for Rising Rates ETF 7.9 35 25 6.2 +2.0
VNMC Natixis Vaughan Nelson Mid Cap ETF 7.9 90 -30 6.0 +1.8
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 7.6 60 0 4.6 +0.4
HAP VanEck Vectors Natural Resources ETF 7.4 50 10 4.8 +0.6
GNR SPDR S&P Global Natural Resources ETF 7.2 40 20 5.1 +0.9
MXI iShares Global Materials ETF 7.0 45 15 4.9 +0.8
IFRA iShares U.S. Infrastructure ETF 6.9 40 20 5.0 +0.8
PICK iShares MSCI Global Metals & Mining Producers ETF 6.6 39 21 5.4 +1.2
LIT Global X Lithium & Battery Tech ETF 6.3 75 -15 1.7 -2.5
PAVE Global X U.S. Infrastructure Development ETF 6.3 47 13 4.2 0.0
FCTR First Trust Lunt U.S. Factor Rotation ETF 5.8 65 -5 1.2 -3.0
VOE Vanguard Mid-Cap Value Index Fund 5.7 7 53 6.6 +2.4
SYLD Cambria Shareholder Yield ETF 5.6 59 1 7.1 +2.9
FOVL iShares Focused Value Factor ETF 5.6 25 35 7.7 +3.6
GOEX Global X Gold Explorers ETF 5.5 65 -5 3.3 -0.8
SIL Global X Silver Miners ETF 5.5 66 -6 2.1 -2.1
SLVP iShares MSCI Global Silver Miners ETF 5.5 39 21 1.7 -2.4
DRIV Global X Autonomous & Electric Vehicles ETF 5.5 68 -8 3.9 -0.3
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 5.3 60 0 0.2 -4.0
FTLB First Trust Hedged BuyWrite Income ETF 5.3 85 -25 6.6 +2.5
FTHI First Trust High Income ETF 5.3 85 -25 6.6 +2.4
SILJ ETFMG Prime Junior Silver ETF 5.1 69 -9 0.5 -3.7
PEXL Pacer US Export Leaders ETF 4.9 60 0 4.6 +0.4
JKG iShares Morningstar Mid-Cap ETF 4.9 25 35 4.4 +0.2
IGE iShares North American Natural Resources ETF 4.9 46 14 3.6 -0.6
RDIV Invesco S&P Ultra Dividend Revenue ETF 4.6 39 21 8.7 +4.6
COPX Global X Copper Miners ETF 4.6 65 -5 4.0 -0.2
ALTL Pacer Lunt Large Cap Alternator ETF 4.5 60 0 5.6 +1.4
SPHB Invesco S&P 500 High Beta ETF 4.5 25 35 5.9 +1.7
KSCD KFA Small Cap Quality Dividend Index ETF 4.4 51 9 5.3 +1.1
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 4.3 60 0 6.5 +2.3
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 4.3 24 36 5.4 +1.3
NVQ QRAFT AI-Enhanced US Next Value ETF 4.3 75 -15 6.6 +2.4
BNE Blue Horizon BNE ETF 4.1 87 -27 0.9 -3.3
XMHQ Invesco S&P MidCap Quality ETF 4.1 25 35 5.3 +1.2
DEMZ Advisors Inner Circle Fund III DEMZ Political Contributions 4.0 45 15 4.4 +0.3
VIOV Vanguard S&P Small-Cap 600 Value ETF 4.0 15 45 7.0 +2.8
LYFE 2nd Vote Life Neutral Plus ETF 3.9 75 -15 5.6 +1.4
AIEQ AI Powered Equity ETF 3.9 87 -27 1.8 -2.4
PBW Invesco WilderHill Clean Energy ETF 3.9 70 -10 -0.6 -4.8
TPHD Timothy Plan High Dividend Stock ETF 3.8 52 8 5.6 +1.4
FPX First Trust US IPO Index Fund 3.8 58 2 1.3 -2.9
ANEW ProShares MSCI Transformational Changes ETF 3.8 45 15 2.4 -1.8
REMX VanEck Vectors Rare Earth/Strategic Metals ETF 3.8 60 0 0.8 -3.4
SMOG VanEck Vectors Low Carbon Energy ETF 3.8 62 -2 1.9 -2.3
JKL iShares Morningstar Small Cap Value ETF 3.7 30 30 7.6 +3.4
KLCD KFA Large Cap Quality Dividend Index ETF 3.6 42 18 5.0 +0.9
JHMS John Hancock Multifactor Consumer Staples ETF 3.6 40 20 5.7 +1.5
FTXG First Trust Nasdaq Food & Beverage ETF 3.6 60 0 5.5 +1.3
ABEQ Absolute Core Strategy ETF 3.6 88 -28 4.3 +0.1
CSD Invesco S&P Spin-Off ETF 3.6 62 -2 4.0 -0.2
IPO Renaissance IPO ETF 3.6 60 0 -3.0 -7.2
AVUV Avantis U.S. Small Cap Value ETF 3.6 25 35 6.4 +2.2
SLYG SPDR S&P 600 Small Cap Growth ETF 3.5 15 45 4.4 +0.3
IJT iShares S&P Small-Cap 600 Growth ETF 3.5 18 42 4.4 +0.2
WBIY WBI Power Factor High Dividend ETF 3.5 70 -10 8.4 +4.2
MAGA Point Bridge GOP Stock Tracker ETF 3.5 72 -12 5.3 +1.1
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 3.3 30 30 7.3 +3.1
EQAL Invesco Russell 1000 Equal Weight ETF 3.3 20 40 5.0 +0.9
IWS iShares Russell Mid-Cap Value ETF 3.3 24 36 5.9 +1.8
GDXJ VanEck Vectors Junior Gold Miners ETF 3.3 53 7 2.9 -1.3
VRAI Virtus Real Asset Income ETF 3.2 55 5 8.8 +4.6
WOOD iShares Global Timber & Forestry ETF 3.2 46 14 7.7 +3.5
EWRE Invesco S&P 500 Equal Weight Real Estate ETF 3.2 40 20 6.3 +2.1
GQRE FlexShares Global Quality Real Estate Index Fund 3.2 45 15 6.2 +2.0
XLRE The Real Estate Select Sector SPDR Fund 3.2 13 47 5.6 +1.4
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 3.2 75 -15 4.3 +0.1
DWAS Invesco DWA SmallCap Momentum ETF 3.2 60 0 -1.2 -5.4
RWK Invesco S&P MidCap 400 Revenue ETF 3.1 39 21 6.3 +2.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 3.1 18 42 5.6 +1.4
MOAT VanEck Vectors Morningstar Wide Moat ETF 3.0 48 12 6.2 +2.0
JDIV JPMorgan U.S. Dividend ETF 3.0 12 48 6.7 +2.5
SLT Pacer Salt High TruBeta US Market ETF 3.0 60 0 4.5 +0.3
SPVM Invesco S&P 500 Value with Momentum ETF 3.0 39 21 7.7 +3.5
QDIV Global X S&P 500 Quality Dividend ETF 3.0 20 40 6.5 +2.3
INFL Horizon Kinetics Inflation Beneficiaries ETF 3.0 85 -25 3.7 -0.5
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 2.9 29 31 7.2 +3.1
TMDV ProShares Russell US Dividend Growers ETF 2.9 36 24 5.2 +1.0
IWN iShares Russell 2000 Value ETF 2.9 24 36 5.1 +0.9
VO Vanguard Mid-Cap Index Fund 2.9 4 56 4.5 +0.4
JSML Janus Henderson Small Cap Growth Alpha ETF 2.9 30 30 5.9 +1.7
RPG Invesco S&P 500 Pure Growth ETF 2.9 35 25 2.7 -1.5
PBJ Invesco Dynamic Food & Beverage ETF 2.9 63 -3 5.8 +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

  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 Basic Materials Momentum ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.4 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 4.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.49
 
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.