Invesco Emerging Markets Ultra Dividend Revenue ETF
ALTAR
Score™
15.2% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
7.1x P/Sales
ratio
0.6x
P/BV
ratio
0.9x Div.
yield
8.4%


  • 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 94
Wgt avg mkt cap (mns) $10,460
Large cap (>$10bn) 27.3%
Mid cap ($2-10bn) 57.1%
Small cap (<$2bn) 10.9%
Developed mkts 5.2%
Emerging mkts 94.6%

TOP TEN HOLDINGS
ISHARES MSCI INDIA 5.0 %
INVESCO INDIA 5.0 %
CHINA PETROLEUM & CHEMICAL-H 4.9 %
TUPRAS-TURKIYE PETROL RAFINE 4.2 %
STERLITE INDUSTRIES INDI-ADR 3.9 %
AGILE PROPERTY HOLDINGS LTD 3.9 %
AU OPTRONICS CORP 3.8 %
CHINA CINDA ASSET MANAGEME-H 3.8 %
GUANGZHOU R&F PROPERTIES - H 3.5 %
TELEFONICA BRASIL SA PFD 3.4 %
Total 41.3 %

TOP COUNTRY EXPOSURE
CHINA 20.6 %
RUSSIA 15.7 %
TURKEY 8.4 %
BRAZIL 5.7 %
TAIWAN 5.0 %
UAE 4.4 %
INDIA 3.9 %
MALAYSIA 3.7 %
SOUTH AFRICA 2.9 %
MEXICO 2.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-7.1% -6.0% -- -- -0.3%

Market Correlations
versus... Beta R-squared
S&P500 0.64 45%
MSCI EAFE 0.86 60%
MSCI Emg. Mkts. 0.81 85%

Technical Indicators
Recent close $22.98
30d moving avg. $23.60
Annualized volatility 15.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 42

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.7%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $1,159

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™: 15.2%


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
(%)
SDEM Global X SuperDividend Emg Mkts 28.4 67 -21 16.8 +1.7
DVYE iShares Emerging Markets Dividend 26.6 49 -3 11.9 -3.3
CEY VictoryShares Emg. Mkt. High Dividend Volatility Wtd. 17.6 50 -4 12.7 -2.5
LVHE Legg Mason Emerging Markets Low Volatility High Dividend 16.2 51 -5 11.4 -3.8
FLRU Franklin FTSE Russia 14.7 19 27 16.7 +1.5
ERUS iShares MSCI Russia 12.3 59 -13 15.1 -0.1
REEM Invesco Emerging Markets Revenue ETF 12.1 46 0 11.0 -4.2
ECOW Pacer Emerging Markets Cash Cows 100 11.7 70 -24 9.7 -5.5
FEM First Trust Emerging Markets AlphaDEX 8.9 80 -34 10.7 -4.5
EMXC iShares MSCI Emerging Markets ex China 8.3 49 -3 7.9 -7.3
IQDF FlexShares Int'l Quality Dividend 8.3 47 -1 9.2 -6.0
IQDE FlexShares Int'l Quality Dividend Defensive 8.0 47 -1 9.1 -6.1
DEM WisdomTree Emerg Mkts High Yield Equity 7.7 63 -17 12.3 -2.9
ISEM Invesco Strategic Emerging Markets 7.6 35 11 10.0 -5.2
EDOG ALPS Emerging Sector Dividend Dogs 7.5 60 -14 9.2 -6.0
FTRI First Trust ISE Global Natural Resources Income 7.4 70 -24 10.3 -4.9
TUR iShares MSCI Turkey Investable 7.3 59 -13 15.3 +0.1
PBEE Invesco PureBeta FTSE Emerging Markets 7.3 14 32 8.5 -6.7
EYLD Cambria Emerging Shareholder Yield 7.0 66 -20 11.1 -4.1
IQDY FlexShares Int'l Quality Dividend Dynamic 7.0 47 -1 9.3 -5.9

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 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 13.7 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 46 bp
Equals: ALTAR Score 15.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.68 CATEGORY
AVERAGE
1.48
 
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.