Invesco Emerging Markets Ultra Dividend Revenue ETF
ALTAR
Score™
17.8% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
7.5x P/Sales
ratio
0.5x
P/BV
ratio
0.9x Div.
yield
7.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
REDV tracks a revenue-weighted index of high-yield emerging-market stocks.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor OppenheimerFunds
Website www.invesco.com
Inception date Aug 07, 2018
Assets (mns) $3
Currency USD
Expense ratio 46 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Revenue
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $13,139
Large cap (>$10bn) 36.1%
Mid cap ($2-10bn) 53.7%
Small cap (<$2bn) 7.7%
Developed mkts 10.3%
Emerging mkts 89.6%

TOP TEN HOLDINGS
CHINA EVERGRANDE GROUP 5.8 %
INDIAN OIL CORPORATION LTD 4.9 %
CHINA PETROLEUM & CHEMICAL-H 4.5 %
PETROBRAS DISTRIBUIDORA SA 4.5 %
TUPRAS-TURKIYE PETROL RAFINE 4.2 %
COAL INDIA LTD 3.7 %
SURGUTNEFTEGAS-PREFERENCE 3.3 %
SESA GOA LTD 3.3 %
CHINA HUARONG ASSET MANAGEMENT CO 3.1 %
TELEFONICA BRASIL SA PFD 2.8 %
Total 40.0 %

TOP COUNTRY EXPOSURE
CHINA 26.3 %
INDIA 15.3 %
RUSSIA 13.1 %
BRAZIL 11.9 %
TURKEY 8.0 %
TAIWAN 3.8 %
UAE 3.1 %
MALAYSIA 3.1 %
MEXICO 2.2 %
SOUTH AFRICA 2.0 %

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.
3.8% 1.5% -- -- 0.1%

Market Correlations
versus... Beta R-squared
S&P500 0.58 55%
MSCI EAFE 0.75 64%
MSCI Emg. Mkts. 0.73 84%

Technical Indicators
Recent close $22.73
30d moving avg. $22.84
Annualized volatility 13.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $929

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco Emerging Markets Ultra Dividend Revenue ETF ETF based on the alternatives' overlap in portfolio holdings with REDV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: REDV Expense: 46 bp ALTAR Score™: 17.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH REDV
Ticker Fund
Name
Overlap1
vs REDV
(%)
Expense
ratio
(bp)
Savings
vs REDV
(bp)
ALTAR
Score™
(%)
ALTAR
vs REDV
(%)
DVYE iShares Emerging Markets Dividend 25.7 49 -3 13.6 -4.3
SDEM Global X SuperDividend Emg Mkts 25.3 67 -21 17.4 -0.4
CEY VictoryShares Emg. Mkt. High Dividend Volatility Wtd. 15.9 50 -4 13.3 -4.5
LVHE Legg Mason Emerging Markets Low Volatility High Dividend 15.3 51 -5 12.4 -5.5
FLRU Franklin FTSE Russia 11.1 19 27 17.2 -0.6
ECOW Pacer Emerging Markets Cash Cows 100 10.8 70 -24 10.9 -6.9
CHIR Global X MSCI China Real Estate 10.5 65 -19 15.1 -2.7
IQDE FlexShares Int'l Quality Dividend Defensive 10.2 47 -1 9.6 -8.3
FEM First Trust Emerging Markets AlphaDEX 9.9 80 -34 10.7 -7.1
DEM WisdomTree Emerg Mkts High Yield Equity 9.4 63 -17 12.3 -5.6
IQDF FlexShares Int'l Quality Dividend 9.4 47 -1 9.4 -8.4
ERUS iShares MSCI Russia 9.2 59 -13 15.4 -2.4
FBZ First Trust Brazil AlphaDEX 7.7 80 -34 6.9 -10.9
IQDY FlexShares Int'l Quality Dividend Dynamic 7.5 47 -1 8.8 -9.0
EEMD AAM S&P Emerging Markets High Dividend Value 7.4 50 -4 12.2 -5.6
ISEM Invesco Strategic Emerging Markets 7.2 35 11 9.9 -7.9
EMGF iShares Edge MSCI Multifactor Emerging Markets 7.0 45 1 9.9 -8.0
EPI WisdomTree India Earnings 7.0 85 -39 9.5 -8.3
TUR iShares MSCI Turkey Investable 7.0 59 -13 16.4 -1.4
EDOG ALPS Emerging Sector Dividend Dogs 6.8 60 -14 9.3 -8.6

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

  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

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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 Emerging Markets Ultra Dividend Revenue ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.1 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 17.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.49
 
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.