Invesco S&P Midcap 400 Pure Growth ETF
ALTAR
Score™
6.2% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
17.6x P/Sales
ratio
1.2x
P/BV
ratio
2.4x Div.
yield
0.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Midcap 400 Pure Growth ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate as closely as possible, before expenses, the performance of the S&P Midcap 400/Citigroup Pure Growth Index.

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Mar 07, 2006
Assets (mns) $223
Currency USD
Expense ratio 35 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Fundamental
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 90
Wgt avg mkt cap (mns) $5,105
Large cap (>$10bn) 7.1%
Mid cap ($2-10bn) 87.7%
Small cap (<$2bn) 5.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
REPLIGEN CORP 2.7 %
SOLAREDGE TECHNOLOGIES, INC. 2.5 %
GENERAC HOLDINGS INC 2.3 %
AXON ENTERPRISE INC 2.3 %
PENUMBRA, INC. 2.3 %
MERCURY COMPUTER SYSTEMS INC 2.2 %
FTI CONSULTING INC 2.0 %
RENAISSANCERE HOLDINGS LTD 2.0 %
TERADYNE INC 1.8 %
DOMINO'S PIZZA INC 1.8 %
Total 22.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.1 %
BERMUDA 2.0 %









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.
-27.0% -25.7% -2.8% 6.3% 6.0%

Market Correlations
versus... Beta R-squared
S&P500 1.23 89%
MSCI EAFE 1.12 73%
MSCI Emg. Mkts. 0.86 63%

Technical Indicators
Recent close $103.66
30d moving avg. $121.92
Annualized volatility 19.8%
Short interest (ETF) 0.0%
Short interest (Underlying) 6.5%
Relative strength (RSI) 34

Liquidity measures
Avg. volume (thou.) 25
Turnover 1.2%
Bid/Ask (% of price) 0.65%
ADV underlying (mns) $6,541

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco S&P Midcap 400 Pure Growth ETF ETF based on the alternatives' overlap in portfolio holdings with RFG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RFG Expense: 35 bp ALTAR Score™: 6.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RFG
Ticker Fund
Name
Overlap1
vs RFG
(%)
Expense
ratio
(bp)
Savings
vs RFG
(bp)
ALTAR
Score™
(%)
ALTAR
vs RFG
(%)
MDYG SPDR S&P 400 Mid Cap Growth ETF 55.0 15 20 6.9 +0.7
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 54.9 15 20 6.9 +0.7
IJK iShares S&P Mid-Cap 400 Growth ETF 54.9 24 11 6.8 +0.7
XMMO Invesco S&P MidCap Momentum ETF 33.8 39 -4 5.4 -0.8
MDY SPDR S&P Midcap 400 ETF Trust 32.7 23 12 9.1 +3.0
SPMD SPDR Portfolio Mid Cap ETF 32.5 5 30 9.3 +3.2
IJH iShares Core S&P Mid-Cap ETF 32.4 6 29 9.3 +3.1
IVOO Vanguard S&P Mid-Cap 400 ETF 32.3 10 25 9.3 +3.1
SMDY Syntax Stratified MidCap ETF 29.1 30 5 9.4 +3.2
EQWM Invesco S&P MidCap Quality ETF 28.0 25 10 7.0 +0.8
FNY First Trust Mid Cap Growth AlphaDEX Fund 27.8 70 -35 4.7 -1.5
AFMC First Trust Active Factor Mid Cap ETF 25.5 65 -30 10.0 +3.8
EWMC Invesco S&P MidCap 400 Equal Weight ETF 24.7 40 -5 10.0 +3.8
VBK Vanguard Small-Cap Growth Index Fund 20.4 7 28 3.9 -2.2
RWK Invesco S&P MidCap 400 Revenue ETF 19.1 39 -4 12.0 +5.9
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 19.1 35 0 7.9 +1.8
PEXL Pacer US Export Leaders ETF 18.5 60 -25 9.2 +3.0
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 18.2 20 15 10.5 +4.4
SFYX Sofi Next 500 ETF 17.5 0 35 8.3 +2.2
FNX First Trust Mid Cap Core AlphaDEX Fund 17.0 61 -26 10.5 +4.3
JKK iShares Morningstar Small-Cap Growth ETF 16.6 30 5 2.2 -4.0
SCHM Schwab U.S. Mid-Cap ETF 15.5 4 31 9.2 +3.1
RNMC Mid Cap US Equity Select ETF 15.0 60 -25 10.3 +4.1
VB Vanguard Small-Cap ETF 14.5 5 30 8.2 +2.1
FSMD Fidelity Small-Mid Factor ETF 14.1 29 6 10.1 +4.0
BUL Pacer US Cash Cows Growth ETF 13.8 60 -25 8.1 +2.0
PBSM Invesco PureBeta MSCI USA Small Cap ETF 13.8 6 29 8.1 +1.9
PDP Invesco DWA Momentum ETF 13.6 62 -27 3.8 -2.4
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 13.2 17 18 7.4 +1.2
NUSC Nuveen ESG Small-Cap ETF 12.8 40 -5 7.6 +1.5
IUSS Invesco Strategic US Small Company ETF 12.6 23 12 9.1 +3.0
QMOM Alpha Architect U.S. Quantitative Momentum ETF 12.2 49 -14 5.1 -1.1
EZM WisdomTree U.S. MidCap Earnings Fund 12.2 38 -3 14.2 +8.0
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 12.2 24 11 11.3 +5.1
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 12.1 39 -4 8.9 +2.7
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 11.9 30 5 10.9 +4.7
JKH iShares Morningstar Mid-Cap Growth ETF 11.8 30 5 3.6 -2.6
FAD First Trust Multi Cap Growth AlphaDEX Fund 11.6 66 -31 4.3 -1.9
XMLV Invesco S&P MidCap Low Volatility ETF 11.4 25 10 8.4 +2.2
JHSC John Hancock Multifactor Small Cap ETF 11.4 50 -15 8.9 +2.7
VXF Vanguard Extended Market Index Fund 11.2 7 28 6.0 -0.2
PXMV Invesco S&P MidCap Value with Momentum ETF 11.1 39 -4 14.2 +8.0
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 10.7 75 -40 4.1 -2.1
PRN Invesco DWA Industrials Momentum ETF 10.7 60 -25 6.4 +0.3
TPLC Timothy Plan US Large Cap Core ETF 10.6 52 -17 7.5 +1.3
FVL First Trust Value Line 100 Exchange-Traded Fund 10.3 70 -35 5.6 -0.6
PLCY EventShares U.S. Legislative Opportunities ETF 10.2 75 -40 5.5 -0.7
FXL First Trust Technology AlphaDEX Fund 10.1 61 -26 5.6 -0.6
USMF WisdomTree U.S. Multifactor Fund 9.9 28 7 8.3 +2.1
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 9.9 48 -13 9.1 +3.0
JHMM John Hancock Multifactor Mid Cap ETF 9.7 44 -9 8.4 +2.3
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 9.6 40 -5 8.2 +2.0
QGRO American Century STOXX U.S. Quality Growth ETF 9.6 29 6 4.6 -1.6
FXH First Trust Health Care AlphaDEX Fund 9.5 62 -27 6.6 +0.5
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 9.5 35 0 9.4 +3.2
SMMD iShares Russell 2500 ETF 9.1 15 20 8.2 +2.0
ONEO SPDR Russell 1000 Momentum Focus ETF 9.0 20 15 9.6 +3.4
IWO iShares Russell 2000 Growth ETF 9.0 24 11 1.6 -4.6
PVAL Principal Contrarian Value Index ETF 9.0 29 6 10.8 +4.6
VTWG Vanguard Russell 2000 Growth Index Fund 9.0 15 20 1.8 -4.4
SCHA Schwab U.S. Small-Cap ETF 8.8 4 31 7.5 +1.3
JKJ iShares Morningstar Small-Cap ETF 8.8 25 10 9.3 +3.1
FNDA Schwab Fundamental U.S. Small Co. Index ETF 8.8 25 10 9.9 +3.7
VBR Vanguard Small Cap Value Index Fund 8.8 7 28 12.3 +6.2
OSCV Opus Small Cap Value Plus ETF 8.5 79 -44 8.4 +2.2
PTH Invesco DWA Healthcare Momentum ETF 8.4 60 -25 -3.0 -9.2
DON WisdomTree U.S. MidCap Dividend Fund 8.3 38 -3 11.2 +5.1
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 8.3 24 11 8.5 +2.4
KLCD KFA Large Cap Quality Dividend Index ETF 8.2 41 -6 6.8 +0.6
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 7.9 17 18 9.2 +3.0
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 7.9 20 15 7.9 +1.7
IWP iShares Russell Mid-Cap Growth ETF 7.8 24 11 6.1 -0.1
VFMO Vanguard U.S. Momentum Factor ETF 7.8 13 22 4.8 -1.4
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 7.8 60 -25 13.1 +6.9
ONEV SPDR Russell 1000 Low Volatility Focus ETF 7.3 20 15 9.7 +3.5
CFA Victory CEMP US 500 Volatility Weighted Index ETF 7.1 35 0 8.2 +2.1
KNOW Direxion All Cap Insider Sentiment Shares 7.0 59 -24 7.3 +1.1
BOSS Global X Founder-Run Companies ETF 7.0 45 -10 4.9 -1.3
BFOR Barron's 400 ETF 6.9 66 -31 9.2 +3.1
JHMI John Hancock Multifactor Industrials ETF 6.9 40 -5 8.7 +2.6
VUSE Vident Core US Equity Fund 6.8 48 -13 11.3 +5.1
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 6.8 29 6 9.4 +3.2
PPA Invesco Aerospace & Defense ETF 6.7 59 -24 7.5 +1.3
AFSM First Trust Active Factor Small Cap ETF 6.7 75 -40 9.8 +3.6
IWM iShares Russell 2000 ETF 6.7 19 16 5.6 -0.5
VTWO Vanguard Russell 2000 Index Fund 6.6 10 25 5.8 -0.4
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 6.6 30 5 8.7 +2.5
LOUP Innovator Loup Frontier Tech ETF 6.5 70 -35 5.3 -0.9
QLV FlexShares US Quality Low Volatility Index Fund 6.3 22 13 6.5 +0.3
PBE Invesco Dynamic Biotechnology & Genome ETF 6.2 57 -22 -1.1 -7.2
VFMF Vanguard U.S. Multifactor ETF 6.2 18 17 11.2 +5.0
FTXL First Trust Nasdaq Semiconductor ETF 6.2 60 -25 7.2 +1.0
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 6.1 39 -4 6.5 +0.3
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 6.1 99 -64 4.9 -1.2
FXD First Trust Consumer Discretionary AlphaDEX Fund 6.1 64 -29 13.6 +7.5
FTC First Trust Large Cap Growth AlphaDEX Fund 6.0 61 -26 4.5 -1.7
TUSA First Trust Total US Market AlphaDEX ETF 6.0 70 -35 9.5 +3.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 6.0 29 6 8.6 +2.4
MFMS Motley Fool Small-Cap Growth ETF 6.0 85 -50 -2.2 -8.3
PSL Invesco DWA Consumer Staples Momentum ETF 5.9 60 -25 4.8 -1.4

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 S&P Midcap 400 Pure Growth ETF
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 14.8 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 6.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.45 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.