Invesco QQQ
ALTAR
Score™
5.3% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
22.3x P/Sales
ratio
3.5x
P/BV
ratio
5.4x Div.
yield
1.1%


  • 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) $73,912
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) $464,335
Large cap (>$10bn) 99.5%
Mid cap ($2-10bn) 0.5%
Small cap (<$2bn) 0.0%
Developed mkts 98.5%
Emerging mkts 1.5%

TOP TEN HOLDINGS
MICROSOFT CORP 11.4 %
APPLE INC 10.4 %
AMAZON.COM INC 9.7 %
FACEBOOK 4.9 %
ALPHABET INC. CLASS C 4.5 %
ALPHABET INC. CLASS A 4.0 %
INTEL CORP 2.5 %
CISCO SYSTEMS INC 2.4 %
COMCAST CORP-CL A 2.4 %
PEPSICO INC 2.2 %
Total 54.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.1 %
CHINA 1.1 %
NETHERLANDS 0.6 %
ARGENTINA 0.4 %
CANADA 0.3 %
BRITAIN 0.2 %
ISRAEL 0.2 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
24.4% 9.2% 16.1% 18.3% 7.2%

Market Correlations
versus... Beta R-squared
S&P500 1.10 82%
MSCI EAFE 1.05 60%
MSCI Emg. Mkts. 0.76 51%

Technical Indicators
Recent close $188.43
30d moving avg. $189.80
Annualized volatility 14.7%
Short interest (ETF) 13.1%
Short interest (Underlying) 2.4%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 21,542
Turnover 5.5%
Bid/Ask (% of price) 0.01%
ADV underlying (mns) $58,953

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco QQQ 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™: 5.3%


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
(%)
ONEQ Fidelity NASDAQ Composite 99.5 21 -1 4.3 -1.0
QYLD Global X NASDAQ 100 Covered Call ETF 99.5 60 -40 5.0 -0.4
IGM iShares S&P N. American Technology 65.4 47 -27 4.6 -0.7
IETC iShares Evolved U.S. Technology 61.9 18 2 4.9 -0.4
MGK Vanguard Mega Cap 300 Growth 57.0 7 13 5.0 -0.4
IWY iShares Russell Top 200 Growth 56.8 20 0 5.0 -0.3
TMFC Motley Fool 100 Index 55.4 50 -30 4.6 -0.7
IYW iShares US Technology 54.4 43 -23 5.4 +0.1
VUG Vanguard Growth ETF 51.0 4 16 4.9 -0.4
QQQE Direxion NASDAQ-100 Equal Weight 50.2 35 -15 6.6 +1.3
QQEW First Trust NASDAQ 100 Equal Weight 50.1 60 -40 6.3 +1.0
IWF iShares Russell 1000 Growth 49.6 20 0 4.9 -0.4
VONG Vanguard Russell 1000 Growth 49.0 12 8 5.0 -0.3
JKE iShares Morningstar Large Cap Growth 46.0 25 -5 3.8 -1.5
SCHG Schwab U.S. Large-Cap Growth 44.9 4 16 5.2 -0.1
FTEC Fidelity MSCI Info Technology 44.2 8 12 5.6 +0.3
VGT Vanguard Info Tech ETF 44.0 10 10 5.5 +0.2
XLK Technology Select Sector SPDR 43.9 13 7 5.7 +0.4
XLG Invesco S&P Top 50 43.8 20 0 5.4 +0.0
OQAL Invesco Russell 1000 Quality Factor ETF 43.1 19 1 5.4 +0.1

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 QQQ
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 26.3 %
Divided by: Fwd. P/BV 4.8 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 CATEGORY
AVERAGE
1.55
 
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.