Invesco International Revenue ETF
ALTAR
Score™
8.8% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
11.8x P/Sales
ratio
0.5x
P/BV
ratio
1.0x Div.
yield
3.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
REFA tracks a revenue-weighted stock index for ex-US developed markets.

FUND BASICS
Category International Equities
Fund Sponsor OppenheimerFunds
Website www.invesco.com
Inception date Jul 11, 2017
Assets (mns) $13
Currency USD
Expense ratio 42 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 900
Wgt avg mkt cap (mns) $47,839
Large cap (>$10bn) 81.3%
Mid cap ($2-10bn) 18.7%
Small cap (<$2bn) 0.0%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
TOYOTA MOTOR CORP 2.0 %
BP PLC 1.7 %
GLENCORE INTERNATIONAL PLC 1.3 %
ROYAL DUTCH SHELL PLC-A SHS 1.1 %
TOTAL SA 1.0 %
EXOR N.V. 1.0 %
DAIMLER AG-REGISTERED SHARES 1.0 %
MITSUBISHI CORP 0.9 %
ROYAL DUTCH SHELL PLC-B SHS 0.9 %
VOLKSWAGEN AG 0.9 %
Total 11.8 %

TOP COUNTRY EXPOSURE
JAPAN 32.9 %
BRITAIN 12.7 %
FRANCE 11.8 %
GERMANY 10.8 %
SWITZERLAND 5.5 %
NETHERLANDS 4.0 %
SPAIN 3.1 %
AUSTRALIA 3.0 %
ITALY 2.6 %
HONG KONG 2.2 %

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.
-4.4% 3.1% -- -- 1.0%

Market Correlations
versus... Beta R-squared
S&P500 0.89 68%
MSCI EAFE 1.18 95%
MSCI Emg. Mkts. 0.80 75%

Technical Indicators
Recent close $25.27
30d moving avg. $25.30
Annualized volatility 14.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $42,955

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the Invesco International Revenue ETF ETF based on the alternatives' overlap in portfolio holdings with REFA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: REFA Expense: 42 bp ALTAR Score™: 8.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH REFA
Ticker Fund
Name
Overlap1
vs REFA
(%)
Expense
ratio
(bp)
Savings
vs REFA
(bp)
ALTAR
Score™
(%)
ALTAR
vs REFA
(%)
IQIN IQ 500 International ETF 67.0 25 17 9.2 +0.4
FNDF Schwab Fundamental International Large Co. Index ETF 65.7 25 17 8.9 +0.1
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 63.2 45 -3 8.6 -0.1
EFA iShares MSCI EAFE ETF 59.0 32 10 7.5 -1.3
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 57.4 35 7 7.4 -1.4
JHMD John Hancock Multifactor Developed International ETF 56.3 45 -3 7.7 -1.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 55.8 7 35 8.0 -0.8
HFXI IQ 50 Percent Hedged FTSE International ETF 54.9 20 22 7.9 -0.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 54.7 35 7 9.0 +0.2
EFV iShares MSCI EAFE Value ETF 54.4 39 3 9.9 +1.1
IEFA iShares Core MSCI EAFE ETF 54.2 7 35 7.7 -1.1
DWM WisdomTree International Equity Fund 53.9 48 -6 8.7 -0.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 53.2 20 22 7.5 -1.3
SCHF Schwab International Equity ETF 53.0 6 36 7.8 -1.0
ESGF Invesco Global ESG Revenue ETF 52.6 45 -3 7.8 -0.9
IDEV iShares Core MSCI International Developed Markets ETF 51.2 5 37 7.7 -1.1
SPDW SPDR Portfolio Developed World ex-US ETF 50.3 4 38 7.6 -1.1
IDY Pacific Global International Equity Income ETF 49.8 39 3 9.1 +0.3
DOL WisdomTree International LargeCap Dividend Fund 49.7 48 -6 9.0 +0.2

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 International Revenue ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.5 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 42 bp
Equals: ALTAR Score 8.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 CATEGORY
AVERAGE
1.64
 
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.