Invesco DWA Basic Materials Momentum ETF
ALTAR
Score™
5.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
17.1x P/Sales
ratio
1.1x
P/BV
ratio
2.0x Div.
yield
2.1%


  • 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) $49
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 51
Wgt avg mkt cap (mns) $14,302
Large cap (>$10bn) 37.0%
Mid cap ($2-10bn) 42.3%
Small cap (<$2bn) 20.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEWMONT MINING CORP 4.5 %
FMC CORP 4.3 %
AIR PRODUCTS & CHEMICALS INC 4.2 %
ECOLAB INC 3.7 %
AVERY DENNISON CORP 3.6 %
PPG INDUSTRIES INC 3.3 %
CF INDUSTRIES HOLDINGS INC 3.1 %
CELANESE CORP-SERIES A 2.8 %
RELIANCE STEEL & ALUMINUM 2.8 %
AVANTOR, INC. 2.7 %
Total 35.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.4 %
BRITAIN 1.7 %









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.
-8.4% 0.0% 3.4% 9.6% 7.5%

Market Correlations
versus... Beta R-squared
S&P500 1.40 76%
MSCI EAFE 1.43 66%
MSCI Emg. Mkts. 1.00 56%

Technical Indicators
Recent close $58.04
30d moving avg. $59.98
Annualized volatility 19.4%
Short interest (ETF) 0.0%
Short interest (Underlying) 4.6%
Relative strength (RSI) 46

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.2%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $3,121

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 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™: 5.6%


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
(%)
IYM iShares U.S. Basic Materials ETF 41.8 42 18 7.8 +2.3
VAW Vanguard Materials Index Fund 40.7 10 50 8.1 +2.5
FMAT Fidelity MSCI Materials Index ETF 40.2 8 52 8.1 +2.5
JHMA John Hancock Multifactor Materials ETF 40.1 40 20 7.6 +2.0
RTM Invesco S&P 500 Equal Weight Materials ETF 39.6 40 20 7.8 +2.2
XLB Materials Select Sector SPDR Fund 32.4 13 47 8.3 +2.7
FXZ First Trust Materials AlphaDEX Fund 29.7 65 -5 8.0 +2.4
XME SPDR S&P Metals & Mining ETF 24.6 35 25 3.4 -2.2
MXI iShares Global Materials ETF 18.4 46 14 6.8 +1.2
PSCM Invesco S&P SmallCap Materials ETF 16.8 29 31 9.9 +4.3
EQRR ProShares Equities for Rising Rates ETF 12.5 35 25 8.3 +2.7
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 11.8 60 0 7.2 +1.7
NANR SPDR S&P North American Natural Resources ETF 11.7 35 25 4.6 -1.0
DIET Defiance Next Gen Food & Agriculture ETF 10.7 30 30 4.9 -0.7
CUT Invesco MSCI Global Timber ETF 10.7 55 5 7.5 +1.9
FTAG First Trust Indxx Global Agriculture ETF 10.6 70 -10 7.8 +2.2
SLX VanEck Vectors Steel ETF 9.7 56 4 17.0 +11.4
GUNR Flexshares Morningstar Global Upstream Natural Resources 9.2 46 14 6.4 +0.8
PAVE Global X U.S. Infrastructure Development ETF 8.7 47 13 5.9 +0.4

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 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 11.8 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 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.