Invesco QQQ Trust
ALTAR
Score™
5.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
21.4x P/Sales
ratio
3.2x
P/BV
ratio
4.6x Div.
yield
1.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Exchange traded fund designed to correspond to the price and yield performance of the Nasdaq-100 Index, which consists of the 100 largest non-financial companies listed on NASDAQ.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Mar 10, 1999
Assets (mns) $79,463
Currency USD
Expense ratio 20 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 103
Wgt avg mkt cap (mns) $489,316
Large cap (>$10bn) 99.6%
Mid cap ($2-10bn) 0.5%
Small cap (<$2bn) 0.0%
Developed mkts 98.4%
Emerging mkts 1.6%

TOP TEN HOLDINGS
MICROSOFT CORP 12.1 %
APPLE INC 11.1 %
AMAZON.COM INC 9.7 %
ALPHABET INC. CLASS C 3.9 %
ALPHABET INC. CLASS A 3.9 %
FACEBOOK 3.8 %
INTEL CORP 3.1 %
PEPSICO INC 2.3 %
CISCO SYSTEMS INC 2.2 %
NETFLIX INC 2.1 %
Total 54.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.3 %
CHINA 1.3 %
NETHERLANDS 0.5 %
BRITAIN 0.4 %
ARGENTINA 0.3 %
ISRAEL 0.2 %





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.
-10.3% 6.9% 13.6% 15.9% 7.0%

Market Correlations
versus... Beta R-squared
S&P500 0.97 84%
MSCI EAFE 0.85 63%
MSCI Emg. Mkts. 0.65 53%

Technical Indicators
Recent close $183.37
30d moving avg. $195.40
Annualized volatility 16.2%
Short interest (ETF) 15.6%
Short interest (Underlying) 2.4%
Relative strength (RSI) 40

Liquidity measures
Avg. volume (thou.) 103,562
Turnover 23.9%
Bid/Ask (% of price) 0.01%
ADV underlying (mns) $124,455

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: QQQ Expense: 20 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH QQQ
Ticker Fund
Name
Overlap1
vs QQQ
(%)
Expense
ratio
(bp)
Savings
vs QQQ
(bp)
ALTAR
Score™
(%)
ALTAR
vs QQQ
(%)
QYLD Global X NASDAQ 100 Covered Call ETF 100.0 60 -40 5.0 -0.4
NUSI Nationwide Risk-Managed Income ETF 99.1 68 -48 5.0 -0.5
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 77.3 21 -1 4.4 -1.1
IGM iShares North American Tech ETF 64.0 46 -26 5.5 +0.1
IETC iShares Evolved U.S. Technology ETF 63.4 18 2 5.4 -0.0
MGK Vanguard Mega Cap Growth ETF 63.2 7 13 5.7 +0.3
IWY iShares Russell Top 200 Growth ETF 61.1 20 0 5.6 +0.2
VUG Vanguard Growth Index Fund 58.0 4 16 5.6 +0.1
TMFC Motley Fool 100 Index ETF 57.4 50 -30 5.3 -0.2
VOOG Vanguard S&P 500 Growth ETF 55.4 10 10 5.8 +0.4
SPYG SPDR Portfolio S&P 500 Growth ETF 55.3 4 16 5.9 +0.4
IVW iShares S&P 500 Growth ETF 55.2 18 2 5.7 +0.3
VONG Vanguard Russell 1000 Growth Index Fund 54.4 8 12 5.9 +0.4
IWF iShares Russell 1000 Growth ETF 53.9 19 1 5.8 +0.3
IUSG iShares Core S&P US Growth ETF 52.2 4 16 5.9 +0.5
SCHG Schwab U.S. Large-Cap Growth ETF 51.8 4 16 5.7 +0.3
IYW iShares U.S. Technology ETF 51.6 42 -22 5.7 +0.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 51.3 49 -29 5.5 +0.0
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 51.2 35 -15 5.9 +0.5
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 51.2 60 -40 5.7 +0.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 50.4 60 -40 6.0 +0.6
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 49.2 75 -55 5.0 -0.5
XLG Invesco S&P 500 Top 50 ETF 49.2 20 0 6.0 +0.6
FTEC Fidelity MSCI Information Technology Index ETF 46.2 8 12 6.3 +0.9
VGT Vanguard Information Technology Index Fund 46.2 10 10 6.3 +0.9
XLK Technology Select Sector SPDR Fund 45.7 13 7 6.4 +1.0
IXN iShares Global Tech ETF 45.7 46 -26 6.3 +0.8
JKE iShares Morningstar Large-Cap Growth ETF 45.6 25 -5 4.7 -0.7
OEF iShares S&P 100 ETF 45.2 20 0 6.4 +1.0
VEGN US Vegan Climate ETF 44.2 60 -40 7.2 +1.8
IQSU IQ Candriam ESG US Equity ETF 44.2 9 11 6.8 +1.3
SYG SPDR MFS Systematic Growth Equity ETF 43.2 60 -40 6.4 +1.0
SPXN ProShares S&P 500 Ex-Financials ETF 42.8 27 -7 6.7 +1.3
SFY SoFi Select 500 ETF 42.7 0 20 6.7 +1.3
IWL iShares Russell Top 200 ETF 41.4 15 5 6.7 +1.3
SPXV ProShares S&P 500 Ex-Health Care ETF 40.8 27 -7 6.9 +1.5
LRGE ClearBridge Large Cap Growth ESG ETF 40.5 60 -40 5.4 -0.0
MGC Vanguard Mega Cap Index Fund 40.4 7 13 6.9 +1.5
SNPE Xtrackers S&P 500 ESG ETF 40.2 11 9 7.0 +1.5
TECB iShares US Tech Breakthrough Multisector ETF 40.2 40 -20 5.5 +0.0
CATH Global X S&P 500 Catholic Values Custom ETF 39.9 29 -9 7.1 +1.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 39.5 12 8 6.9 +1.4
ESGV Vanguard ESG U.S. Stock ETF 39.3 12 8 7.1 +1.6
HSPX Global X S&P 500 Covered Call ETF 38.8 65 -45 6.6 +1.1
PBP Invesco S&P 500 BuyWrite ETF 38.6 49 -29 6.8 +1.3
DSI iShares MSCI KLD 400 Social ETF 38.4 25 -5 6.9 +1.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 38.2 20 0 7.2 +1.8
SPXE ProShares S&P 500 Ex-Energy ETF 38.1 27 -7 7.1 +1.7
JOYY Infusive Compounding Global Equities ETF 38.0 50 -30 5.2 -0.3
ESG FlexShares STOXX US ESG Impact Index Fund 38.0 32 -12 6.9 +1.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 37.3 20 0 6.7 +1.3
SPY SPDR S&P 500 ETF Trust 37.2 9 11 7.2 +1.7
VOO VANGUARD S&P 500 ETF 37.2 3 17 7.2 +1.8
IOO iShares Global 100 ETF 37.1 40 -20 6.2 +0.7
SPLG SPDR Portfolio Large Cap ETF 37.1 3 17 7.2 +1.8
IVV iShares Core S&P 500 ETF 37.0 4 16 7.2 +1.8
VV Vanguard Large-Cap Index Fund 37.0 4 16 7.1 +1.6
XNTK SPDR Morgan Stanley Technology ETF 36.7 35 -15 5.5 +0.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 36.6 15 5 7.0 +1.5
BBUS JP Morgan Betabuilders U.S. Equity ETF 36.5 2 18 7.2 +1.7
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 36.5 19 1 7.7 +2.2
PBUS Invesco PureBeta MSCI USA ETF 36.1 4 16 7.2 +1.7
ESGU iShares MSCI USA ESG Optimized ETF 35.6 15 5 6.8 +1.3
SCHX Schwab U.S. Large-Cap ETF 35.4 3 17 7.1 +1.7
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 35.4 60 -40 5.2 -0.3
VONE Vanguard Russell 1000 ETF 35.1 8 12 7.1 +1.7
OMFL Oppenheimer Russell 1000 Dynamic Multifactor ETF 35.0 29 -9 5.7 +0.3
SYE SPDR MFS Systematic Core Equity ETF 34.9 60 -40 8.5 +3.1
IWB iShares Russell 1000 ETF 34.5 15 5 7.1 +1.6
NACP Impact Shares NAACP Minority Empowerment ETF 34.4 75 -55 6.3 +0.8
SCHK Schwab 1000 Index ETF 34.3 5 15 7.2 +1.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 34.3 9 11 7.4 +2.0
SPTM SPDR Portfolio Total Stock Market ETF 34.3 3 17 7.4 +2.0
IYY iShares Dow Jones U.S. ETF 34.0 20 0 7.1 +1.6
HLAL Wahed FTSE USA Shariah ETF 33.7 50 -30 6.2 +0.8
DYNF BlackRock U.S. Equity Factor Rotation ETF 33.7 30 -10 8.0 +2.6
MTUM iShares Edge MSCI USA Momentum Factor ETF 33.6 15 5 6.3 +0.8
RECS Columbia Research Enhanced Core ETF 33.4 15 5 7.6 +2.1
SUSL iShares ESG MSCI USA Leaders ETF 33.3 10 10 7.1 +1.6
ADME Aptus Drawdown Managed Equity ETF 33.3 81 -61 5.5 +0.1
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 33.3 10 10 7.1 +1.6
VTHR Vanguard Russell 3000 Index Fund 33.1 10 10 7.0 +1.6
JQUA JPMorgan U.S. Quality Factor ETF 33.1 12 8 6.7 +1.3
IUS Invesco Strategic US ETF 32.8 19 1 8.1 +2.6
SCHB Schwab U.S. Broad Market ETF 32.8 3 17 7.2 +1.7
ITOT iShares Core S&P Total U.S. Stock Market ETF 32.7 3 17 7.1 +1.6
EXT WisdomTree U.S. Total Earnings Fund 32.7 28 -8 7.8 +2.4
IWV iShares Russell 3000 ETF 32.6 20 0 6.9 +1.5
VTI Vanguard Total Stock Market Index Fund 32.6 3 17 7.1 +1.6
JHMT John Hancock Multifactor Technology ETF 32.5 40 -20 6.9 +1.4
FQAL Fidelity Quality Factor ETF 32.5 29 -9 7.1 +1.7
WOMN Impact Shares YWCA Women's Empowerment ETF 32.3 75 -55 6.4 +0.9
TDIV First Trust NASDAQ Technology Dividend Index Fund 32.3 50 -30 7.7 +2.3
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 31.8 57 -37 6.4 +1.0
FVAL Fidelity Value Factor ETF 31.6 29 -9 11.1 +5.7
EPS WisdomTree U.S. Earnings 500 Fund 31.6 8 12 8.6 +3.2
CACG ClearBridge All Cap Growth ETF 31.6 54 -34 5.7 +0.3
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 31.5 12 8 6.4 +0.9
QUAL iShares MSCI Usa Quality Factor ETF 30.8 15 5 7.0 +1.6
GDAT Goldman Sachs Motif Data-Driven World Etf 30.3 50 -30 7.0 +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 QQQ Trust
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 24.8 %
Divided by: Fwd. P/BV 4.4 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.35 CATEGORY
AVERAGE
1.51
 
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.