Invesco Dynamic Basic Materials Sector
ALTAR
Score™
5.9% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
24.8x P/Sales
ratio
1.1x
P/BV
ratio
1.9x Div.
yield
1.9%


  • 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) $54
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 48
Wgt avg mkt cap (mns) $14,282
Large cap (>$10bn) 40.3%
Mid cap ($2-10bn) 38.9%
Small cap (<$2bn) 20.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
RELIANCE STEEL & ALUMINUM 4.1 %
FMC CORP 3.9 %
AVERY DENNISON CORP 3.8 %
AIR PRODUCTS & CHEMICALS INC 3.7 %
PPG INDUSTRIES INC 3.3 %
CELANESE CORP-SERIES A 3.3 %
ECOLAB INC 3.0 %
DOW CHEMICAL 2.9 %
CF INDUSTRIES HOLDINGS INC 2.8 %
NEWMONT MINING CORP 2.8 %
Total 33.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.0 %
BRITAIN 2.1 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
15.7% 2.3% 3.5% 9.9% 7.9%

Market Correlations
versus... Beta R-squared
S&P500 1.37 79%
MSCI EAFE 1.34 63%
MSCI Emg. Mkts. 0.97 53%

Technical Indicators
Recent close $60.33
30d moving avg. $60.27
Annualized volatility 18.6%
Short interest (ETF) 0.0%
Short interest (Underlying) 4.6%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.2%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $2,873

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco Dynamic Basic Materials Sector 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™: 5.9%


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 DJ US Basic Material 39.1 42 18 8.7 +2.8
VAW Vanguard Materials 37.7 10 50 8.6 +2.8
FMAT Fidelity MSCI Materials 37.5 8 52 8.6 +2.8
JHMA John Hancock Multifactor Materials 35.9 40 20 7.5 +1.7
RTM Invesco S&P Equal Weight Materials 35.6 40 20 8.4 +2.5
XLB Materials Select Sector SPDR 29.1 13 47 9.3 +3.5
XME SPDR Metals & Mining ETF 25.8 35 25 2.2 -3.7
FXZ First Trust Materials Alphadex 24.2 64 -4 7.8 +2.0
PSCM Invesco S&P Small Cap Materials 16.7 29 31 9.2 +3.3
MXI iShares S&P Global Materials 16.7 46 14 6.8 +0.9
XLSY Cushing Energy Supply Chain & MLP 13.0 65 -5 5.4 -0.5
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation 10.6 60 0 7.4 +1.5
NANR SPDR S&P N. American Nat. Resources 10.5 35 25 4.1 -1.8
CUT Invesco Timber 9.7 55 5 7.0 +1.2
SLX VanEck Vectors Steel 9.7 56 4 12.1 +6.3
FTAG First Trust Indxx Global Agriculture 9.3 70 -10 8.5 +2.6
DIET Defiance Next Gen Food & Agriculture 8.8 30 30 5.7 -0.1
EQRR ProShares Equities for Rising Rates 8.8 35 25 7.9 +2.1
VRAI Virtus Real Asset Income ETF 8.5 55 5 8.7 +2.8
IFRA iShares U.S. Infrastructure 8.5 40 20 5.7 -0.2

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 Basic Materials Sector
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 1.8 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 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.