Invesco S&P Midcap 400 Pure Value ETF
ALTAR
Score™
16.9% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
8.9x P/Sales
ratio
0.2x
P/BV
ratio
0.5x Div.
yield
4.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Rydex S&P Midcap 400 Pure Value ETF objective is to replicate as closely as possible, before expenses, the performance of the S&P 400 Midcap 400/Citigroup Pure Value Index.

FUND BASICS
Category US Equities
Fund Sponsor Rydex Investments
Website www.rydexfunds.com/etf
Inception date Mar 07, 2006
Assets (mns) $48
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 89
Wgt avg mkt cap (mns) $2,147
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 40.3%
Small cap (<$2bn) 59.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GENWORTH FINANCIAL INC-CL A 3.8 %
CNX RESOURCES CORPORATION 3.0 %
TECH DATA CORP 2.9 %
TELEPHONE AND DATA SYSTEMS, INC. 2.4 %
AVNET INC 2.4 %
UNITED STATES STEEL CORP 2.2 %
LEGG MASON INC 2.1 %
PATTERSON COS INC 2.1 %
BRIGHTHOUSE FINANCIAL, INC. 1.9 %
BJ'S WHOLESALE CLUB HOLDINGS, INC. 1.9 %
Total 24.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.1 %
BRITAIN 2.1 %
IRELAND 0.8 %








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.
-43.2% -39.8% -5.2% 3.5% 3.3%

Market Correlations
versus... Beta R-squared
S&P500 1.71 82%
MSCI EAFE 1.65 74%
MSCI Emg. Mkts. 1.25 63%

Technical Indicators
Recent close $35.55
30d moving avg. $46.73
Annualized volatility 28.7%
Short interest (ETF) 0.0%
Short interest (Underlying) 9.0%
Relative strength (RSI) 28

Liquidity measures
Avg. volume (thou.) 40
Turnover 3.0%
Bid/Ask (% of price) 1.49%
ADV underlying (mns) $3,464

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: RFV Expense: 35 bp ALTAR Score™: 16.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RFV
Ticker Fund
Name
Overlap1
vs RFV
(%)
Expense
ratio
(bp)
Savings
vs RFV
(bp)
ALTAR
Score™
(%)
ALTAR
vs RFV
(%)
PXMV Invesco S&P MidCap Value with Momentum ETF 39.2 39 -4 14.2 -2.8
RWK Invesco S&P MidCap 400 Revenue ETF 38.1 39 -4 12.0 -4.9
MDYV SPDR S&P 400 Mid Cap Value ETF 30.1 15 20 12.4 -4.5
IJJ iShares S&P Mid-Cap 400 Value ETF 30.1 25 10 12.3 -4.6
IVOV Vanguard S&P Mid-Cap 400 Value ETF 29.9 15 20 12.5 -4.4
JKL iShares Morningstar Small Cap Value ETF 22.8 30 5 15.4 -1.5
FNK First Trust Mid Cap Value AlphaDEX Fund 21.4 70 -35 16.4 -0.5
EWMC Invesco S&P MidCap 400 Equal Weight ETF 19.1 40 -5 10.0 -6.9
BUYN USCF SummerHaven SHPEN Index Fund 17.4 80 -45 23.7 +6.8
SMDY Syntax Stratified MidCap ETF 16.5 30 5 9.4 -7.6
AFMC First Trust Active Factor Mid Cap ETF 16.5 65 -30 10.0 -7.0
AVUV Avantis U.S. Small Cap Value ETF 14.7 25 10 13.9 -3.0
EZM WisdomTree U.S. MidCap Earnings Fund 14.3 38 -3 14.2 -2.8
MDY SPDR S&P Midcap 400 ETF Trust 13.8 23 12 9.1 -7.8
SPMD SPDR Portfolio Mid Cap ETF 13.8 5 30 9.3 -7.6
IJH iShares Core S&P Mid-Cap ETF 13.7 6 29 9.3 -7.6
IVOO Vanguard S&P Mid-Cap 400 ETF 13.7 10 25 9.3 -7.7
FYT First Trust Small Cap Value AlphaDEX Fund 13.6 72 -37 14.1 -2.9
FLAG FLAG-Forensic Accounting Long Short ETF 13.4 152 -117 12.1 -4.9
FXO First Trust Financials AlphaDEX Fund 12.4 63 -28 14.4 -2.5
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 12.3 38 -3 13.6 -3.3
VBR Vanguard Small Cap Value Index Fund 11.5 7 28 12.3 -4.6
VUSE Vident Core US Equity Fund 10.9 48 -13 11.3 -5.7
DES WisdomTree U.S. SmallCap Dividend Fund 10.5 38 -3 12.7 -4.2
FNX First Trust Mid Cap Core AlphaDEX Fund 10.4 61 -26 10.5 -6.4
FOVL iShares Focused Value Factor ETF 10.3 25 10 14.6 -2.4
GBDV Global Beta Smart Income ETF 10.2 29 6 16.7 -0.2
ISMD Inspire Small/Mid Cap Impact ETF 9.3 61 -26 9.8 -7.1
PSC Principal U.S. Small Cap Index ETF 9.1 38 -3 11.0 -6.0
SYLD Cambria Shareholder Yield ETF 8.8 59 -24 15.5 -1.4
FAB First Trust Multi Cap Value AlphaDEX Fund 8.8 71 -36 13.7 -3.2
CSB Victory CEMP US Small Cap High Dividend Volatility Wtd Idx E 8.7 35 0 12.8 -4.1
RDIV Invesco S&P Ultra Dividend Revenue ETF 8.6 39 -4 15.4 -1.6
JHSC John Hancock Multifactor Small Cap ETF 8.5 50 -15 8.9 -8.0
KIE SPDR S&P Insurance ETF 8.5 35 0 12.1 -4.8
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 8.4 60 -25 13.1 -3.9
PVAL Principal Contrarian Value Index ETF 8.4 29 6 10.8 -6.1
WBIY WBI Power Factor High Dividend ETF 8.3 70 -35 20.3 +3.4
KBWR Invesco KBW Regional Banking ETF 8.1 35 0 15.4 -1.5
KRE SPDR S&P Regional Banking ETF 7.9 35 0 16.4 -0.6
KBE SPDR S&P Bank ETF 7.9 35 0 16.3 -0.7
BUY USCF SummerHaven SHPEI Index Fund 7.8 80 -45 17.6 +0.7
VFVA Vanguard U.S. Value Factor ETF 7.7 13 22 16.9 0.0
AUSF Global X Adaptive U.S. Factor ETF 7.4 27 8 10.8 -6.2
XRT SPDR S&P Retail ETF 7.4 35 0 12.1 -4.8
RNMC Mid Cap US Equity Select ETF 7.4 60 -25 10.3 -6.7
VALX Validea Market Legends ETF 7.4 79 -44 19.2 +2.3
FXD First Trust Consumer Discretionary AlphaDEX Fund 7.2 64 -29 13.6 -3.3
AFSM First Trust Active Factor Small Cap ETF 7.2 75 -40 9.8 -7.2
SQLV Legg Mason Small-Cap Quality Value 7.2 62 -27 11.7 -5.3
IAT iShares U.S. Regional Banks ETF 7.1 42 -7 15.9 -1.1
EQWM Invesco S&P MidCap Quality ETF 7.1 25 10 7.0 -9.9
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 7.0 40 -5 8.2 -8.8
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 6.8 30 5 10.9 -6.0
FYX First Trust Small Cap Core AlphaDEX Fund 6.8 63 -28 9.2 -7.8
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 6.7 17 18 7.4 -9.6
SCHA Schwab U.S. Small-Cap ETF 6.7 4 31 7.5 -9.4
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 6.6 48 -13 9.1 -7.8
FXZ First Trust Materials AlphaDEX Fund 6.6 65 -30 10.6 -6.3
XOP SPDR S&P Oil & Gas Exploration & Production ETF 6.5 35 0 6.0 -10.9
ROGS Hartford Multifactor Global Small Cap ETF 6.5 34 1 12.0 -5.0
SFYX Sofi Next 500 ETF 6.4 0 35 8.3 -8.6
PYZ Invesco DWA Basic Materials Momentum ETF 6.3 60 -25 9.0 -8.0
PBSM Invesco PureBeta MSCI USA Small Cap ETF 6.3 6 29 8.1 -8.9
EES WisdomTree SmallCap Earnings Fund 6.2 38 -3 18.6 +1.7
VB Vanguard Small-Cap ETF 6.1 5 30 8.2 -8.7
QVAL Alpha Architect U.S. Quantitative Value ETF 6.1 49 -14 18.0 +1.0
DON WisdomTree U.S. MidCap Dividend Fund 6.0 38 -3 11.2 -5.7
FNDA Schwab Fundamental U.S. Small Co. Index ETF 6.0 25 10 9.9 -7.1
NUSC Nuveen ESG Small-Cap ETF 6.0 40 -5 7.6 -9.3
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 6.0 63 -28 9.8 -7.1
VTWV Vanguard Russell 2000 Value Index Fund 5.9 15 20 10.5 -6.4
IWN iShares Russell 2000 Value ETF 5.9 24 11 10.4 -6.6
CSD Invesco S&P Spin-Off ETF 5.8 62 -27 12.3 -4.7
LSAF LeaderShares AlphaFactor US Core Equity ETF 5.8 75 -40 10.8 -6.1
VAMO Cambria Value & Momentum ETF 5.8 64 -29 9.7 -7.2
PXE Invesco Dynamic Energy Exploration & Production ETF 5.5 63 -28 4.0 -12.9
RNSC Small Cap US Equity Select ETF 5.3 60 -25 9.7 -7.2
PEXL Pacer US Export Leaders ETF 5.2 60 -25 9.2 -7.8
FTXR First Trust Nasdaq Transportation ETF 5.2 60 -25 15.5 -1.5
JVAL JPMorgan U.S. Value Factor ETF 5.0 12 23 12.2 -4.7
QABA First Trust NASDAQ ABA Community Bank Index Fund 4.9 60 -25 13.7 -3.3
STLV iShares Factors US Value Style ETF 4.9 25 10 10.0 -6.9
FCG First Trust Natural Gas ETF 4.9 60 -25 13.7 -3.3
EQAL Invesco Russell 1000 Equal Weight ETF 4.9 20 15 7.7 -9.3
JKJ iShares Morningstar Small-Cap ETF 4.8 25 10 9.3 -7.7
ONEY SPDR Russell 1000 Yield Focus ETF 4.8 20 15 12.4 -4.6
COWZ Pacer US Cash Cows 100 ETF 4.7 49 -14 14.0 -3.0
SLT Salt TruBeta High Exposure ETF 4.7 29 6 12.6 -4.3
VXF Vanguard Extended Market Index Fund 4.7 7 28 6.0 -11.0
RYJ Invesco Raymond James SB-1 Equity ETF 4.7 82 -47 5.8 -11.2
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 4.7 24 11 11.3 -5.7
CSML IQ Chaikin U.S. Small Cap ETF 4.6 35 0 7.9 -9.1
FSMD Fidelity Small-Mid Factor ETF 4.5 29 6 10.1 -6.8
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 4.5 20 15 10.5 -6.4
KBWD Invesco KBW High Dividend Yield Financial ETF 4.4 158 -123 25.4 +8.4
TPSC Timothy Plan US Small Cap Core ETF 4.3 52 -17 11.2 -5.8
IFRA iShares U.S. Infrastructure ETF 4.2 40 -5 7.9 -9.0
CSA Victory CEMP US Small Cap Volatility Weighted Index ETF 4.2 35 0 11.8 -5.2
XME SPDR S&P Metals & Mining ETF 4.2 35 0 12.7 -4.3

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 Value 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 7.7 %
Divided by: Fwd. P/BV 0.4 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 16.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 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.