Invesco Cleantech ETF
ALTAR
Score™
6.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.1x P/Sales
ratio
1.7x
P/BV
ratio
2.1x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco Cleantech Portfolio seeks investment results that correspond to the price and yield of the Cleantech Index, which is comprised of 75 public companies engaged in the clean technology industry.

FUND BASICS
Category Global Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Oct 24, 2006
Assets (mns) $188
Currency USD
Expense ratio 68 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Tiered
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 51
Wgt avg mkt cap (mns) $11,179
Large cap (>$10bn) 36.1%
Mid cap ($2-10bn) 46.0%
Small cap (<$2bn) 17.9%
Developed mkts 99.0%
Emerging mkts 1.0%

TOP TEN HOLDINGS
NOVOZYMES A/S-B SHARES 3.7 %
ANSYS INC 3.5 %
KINGSPAN GROUP PLC 3.5 %
SGS SA-REG 3.5 %
ROPER INDUSTRIES INC 3.4 %
GAMESA CORP TECNOLOGICA SA 3.3 %
AUTODESK INC 3.3 %
SCHNEIDER ELECTRIC SA 3.2 %
EUROFINS SCIENTIFIC 3.2 %
XYLEM INC 3.2 %
Total 33.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 51.2 %
SWITZERLAND 7.2 %
DENMARK 6.8 %
IRELAND 6.1 %
BRITAIN 4.9 %
NORWAY 4.5 %
SPAIN 3.4 %
FRANCE 3.2 %
LUXEMBOURG 3.2 %
BELGIUM 2.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-24.5% -10.0% 5.5% 5.2% 3.7%

Market Correlations
versus... Beta R-squared
S&P500 1.22 83%
MSCI EAFE 1.23 81%
MSCI Emg. Mkts. 0.98 76%

Technical Indicators
Recent close $36.18
30d moving avg. $41.90
Annualized volatility 20.4%
Short interest (ETF) 0.1%
Relative strength (RSI) 33

Liquidity measures
Avg. volume (thou.) 31
Turnover 0.6%
Bid/Ask (% of price) 1.34%
ADV underlying (mns) $3,710

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco Cleantech ETF ETF based on the alternatives' overlap in portfolio holdings with PZD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PZD Expense: 68 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PZD
Ticker Fund
Name
Overlap1
vs PZD
(%)
Expense
ratio
(bp)
Savings
vs PZD
(bp)
ALTAR
Score™
(%)
ALTAR
vs PZD
(%)
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 20.0 60 8 2.4 -4.1
GEX VanEck Vectors Global Alternative Energy ETF 19.4 63 5 7.2 +0.7
PBW Invesco WilderHill Clean Energy ETF 16.7 70 -2 -0.6 -7.0
ICLN iShares Global Clean Energy ETF 15.1 46 22 5.2 -1.3
PBD Invesco Global Clean Energy ETF 14.9 75 -7 0.8 -5.6
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Inde 13.4 70 -2 6.1 -0.3
GMAN Goldman Sachs Motif Manufacturing Revolution ETF 11.3 50 18 6.4 -0.1
XKII SPDR Kensho Intelligent Structures ETF 11.1 45 23 8.6 +2.2
FIW First Trust Water ETF 10.9 55 13 5.1 -1.4
PHO Invesco Water Resources ETF 10.9 60 8 4.9 -1.6
IQM Franklin Intelligent Machines ETF 10.5 50 18 3.6 -2.9
XKST SPDR Kensho Smart Mobility ETF 10.4 45 23 5.6 -0.8
ACES ALPS Clean Energy ETF 10.4 65 3 2.1 -4.3
SNSR Global X Internet of Things Thematic ETF 10.3 68 0 6.5 +0.0
FAN First Trust Global Wind Energy ETF 10.2 60 8 7.9 +1.5
PRNT The 3D Printing ETF 9.7 66 2 2.1 -4.4
IDRV iShares Self-driving EV & Tech ETF 9.1 47 21 10.3 +3.8
SDG iShares Sustainable MSCI Global Impact ETF 8.7 49 19 7.6 +1.1
DTEC ALPS Disruptive Technologies ETF 7.9 50 18 5.1 -1.3
MOTO SmartETFs Smart Transportation & Technology ETF 7.6 68 0 12.2 +5.7
ARKQ Ark Industrial Innovation ETF 7.6 75 -7 1.6 -4.9
TAN Invesco Solar ETF 7.6 71 -3 3.3 -3.2
PSCT Invesco S&P SmallCap Information Technology ETF 7.5 29 39 7.7 +1.3
XKCP SPDR Kensho Clean Power ETF 7.0 45 23 -14.9 -21.3
XSD SPDR S&P Semiconductor ETF 7.0 35 33 5.7 -0.8
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 6.9 65 3 2.6 -3.9
EDEN iShares MSCI Denmark Capped ETF 6.8 53 15 8.3 +1.9
DIET Defiance Next Gen Food & Agriculture ETF 6.5 30 38 6.3 -0.2
ITEQ BlueStar Israel Technology ETF 6.3 75 -7 2.9 -3.5
PIO Invesco Global Water ETF 6.0 75 -7 5.2 -1.3
XTH SPDR S&P Technology Hardware ETF 5.9 35 33 7.4 +1.0
ROBO Robo Global Robotics & Automation Index ETF 5.7 95 -27 5.2 -1.3
ISRA VanEck Vectors Israel ETF 5.7 60 8 8.9 +2.4
EXI iShares Global Industrials ETF 5.6 46 22 8.4 +1.9
LOUP Innovator Loup Frontier Tech ETF 5.4 70 -2 5.1 -1.3
PDP Invesco DWA Momentum ETF 5.3 62 6 4.4 -2.0
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 5.2 57 11 6.3 -0.1
IGV iShares North American Tech-Software ETF 5.0 46 22 3.5 -2.9
NUMG Nuveen ESG Mid-Cap Growth ETF 4.8 40 28 4.6 -1.9
ETHO Etho Climate Leadership U.S. ETF 4.7 47 21 6.7 +0.2
CGW Invesco S&P Global Water Index ETF 4.7 62 6 5.1 -1.3
RGI Invesco S&P 500 Equal Weight Industrials ETF 4.6 40 28 8.2 +1.7
TBLU Tortoise Water Fund 4.5 40 28 6.3 -0.1
KOMP SPDR Kensho New Economies Composite ETF 4.5 20 48 2.8 -3.7
EWL iShares MSCI Switzerland ETF 4.4 50 18 5.8 -0.7
NULG Nuveen ESG Large-Cap Growth ETF 4.3 35 33 4.8 -1.7
FLSW Franklin FTSE Switzerland ETF 4.3 9 59 6.4 -0.1
DINT Davis Select International ETF 4.2 75 -7 7.9 +1.4
DRIV Global X Autonomous & Electric Vehicles ETF 4.2 68 0 8.6 +2.2
ENOR iShares MSCI Norway Capped ETF 4.2 53 15 13.3 +6.8
SUSA iShares MSCI USA ESG Select ETF 4.1 25 43 6.2 -0.3
NORW Global X MSCI Norway ETF 4.1 50 18 13.3 +6.9
XSHQ Invesco S&P SmallCap Quality ETF 4.1 29 39 8.0 +1.5
QMOM Alpha Architect U.S. Quantitative Momentum ETF 4.0 49 19 5.1 -1.4
VIS Vanguard Industrials Index Fund 3.9 10 58 8.0 +1.5
FIDU Fidelity MSCI Industrials Index ETF 3.9 8 60 7.8 +1.4
PEXL Pacer US Export Leaders ETF 3.9 60 8 9.0 +2.5
EKAR Innovation Shares NextGen Vehicles & Technology ETF 3.8 65 3 13.1 +6.6
TDV ProShares S&P Technology Dividend Aristocrats ETF 3.7 45 23 6.2 -0.2
EWQ iShares MSCI France ETF 3.7 50 18 8.3 +1.9
FLFR Franklin FTSE France ETF 3.7 9 59 8.8 +2.3
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 3.7 61 7 6.6 +0.1
XLI Industrial Select Sector SPDR Fund 3.7 13 55 7.7 +1.3
EUDV ProShares MSCI Europe Dividend Growers ETF 3.7 55 13 8.6 +2.1
PAVE Global X U.S. Infrastructure Development ETF 3.5 47 21 8.1 +1.6
CWS AdvisorShares Focused Equity ETF 3.5 85 -17 6.8 +0.4
PSJ Invesco Dynamic Software ETF 3.5 58 10 4.2 -2.3
EFAD ProShares MSCI EAFE Dividend Growers ETF 3.5 50 18 8.1 +1.6
EIRL iShares MSCI Ireland Capped ETF 3.5 49 19 9.7 +3.2
PRN Invesco DWA Industrials Momentum ETF 3.4 60 8 15.1 +8.6
JHMI John Hancock Multifactor Industrials ETF 3.4 40 28 8.5 +2.1
FLM First Trust Global Engineering & Construction ETF 3.4 70 -2 12.7 +6.2
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 3.4 49 19 11.2 +4.7
FFTY Innovator IBD 50 ETF 3.3 80 -12 5.5 -1.0
RFG Invesco S&P Midcap 400 Pure Growth ETF 3.3 35 33 6.0 -0.5
SPHB Invesco S&P 500 High Beta ETF 3.3 25 43 11.4 +5.0
IYJ iShares U.S. Industrials ETF 3.3 42 26 7.8 +1.4
VIOG Vanguard S&P Small-Cap 600 Growth ETF 3.3 16 52 7.5 +1.0
SLYG SPDR S&P 600 Small Cap Growth ETF 3.3 15 53 7.5 +1.1
IJT iShares S&P Small-Cap 600 Growth ETF 3.3 25 43 7.4 +1.0
VSL Volshares Large Capital ETF 3.2 65 3 8.7 +2.3
FXL First Trust Technology AlphaDEX Fund 3.2 61 7 5.5 -1.0
CACG ClearBridge All Cap Growth ETF 3.2 54 14 5.7 -0.8
FTXL First Trust Nasdaq Semiconductor ETF 3.1 60 8 7.1 +0.7
RYT Invesco S&P 500 Equal Weight Technology ETF 3.1 40 28 8.2 +1.8
PSET Principal Price Setters Index ETF 3.1 29 39 7.1 +0.7
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 3.1 63 5 9.5 +3.1
NUDM Nuveen ESG International Developed Markets Equity ETF 3.1 40 28 8.5 +2.1
NUSC Nuveen ESG Small-Cap ETF 3.0 40 28 7.6 +1.1
FYC First Trust Small Cap Growth AlphaDEX Fund 3.0 70 -2 3.7 -2.7
JKK iShares Morningstar Small-Cap Growth ETF 3.0 30 38 2.3 -4.2
GXF Global X FTSE Nordic Region ETF 3.0 58 10 14.0 +7.6
OSCV Opus Small Cap Value Plus ETF 2.9 79 -11 7.9 +1.4
BOTZ Global X Robotics & Artificial Intelligence ETF 2.9 68 0 4.3 -2.1
WOMN Impact Shares YWCA Women's Empowerment ETF 2.9 75 -7 6.2 -0.3
JHMT John Hancock Multifactor Technology ETF 2.9 40 28 6.8 +0.3
IZRL ARK Israel Innovative Technology ETF 2.9 49 19 -0.9 -7.3
UFO Procure Space ETF 2.9 75 -7 0.0 -6.5
EWK iShares MSCI Belgium Capped ETF 2.8 49 19 7.8 +1.4
BATT Amplify Advanced Battery Metals & Materials ETF 2.8 72 -4 4.2 -2.3

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%.

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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 Cleantech 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 14.8 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 68 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 CATEGORY
AVERAGE
1.50
 
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.