ETF Research Center

Invesco S&P 500 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 500/Citigroup Pure Growth Index.

FUND BASICS
Category	US Equities
Fund Sponsor	Security Investors LLC
Website	guggenheiminvestments.com
Inception date	Mar 07, 2006
Assets (mns)	$2,830
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	105
Wgt avg mkt cap (mns)	$115,956
Large cap (>$10bn)	98.8%
Mid cap ($2-10bn)	1.3%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	17.2 %
SERVICENOW INC	2.1 %
PAYCOM SOFTWARE INC	2.0 %
PULTE HOMES INC	1.8 %
LAM RESEARCH CORP	1.8 %
MICRON TECHNOLOGY INC	1.7 %
FACEBOOK	1.6 %
FORTINET INC	1.6 %
MASTERCARD INC-CLASS A	1.6 %
HILTON WORLDWIDE HOLDINGS, INC.	1.5 %
MSCI INC-A	1.5 %

TOP COUNTRY EXPOSURE
	UNITED STATES	98.9 %
	SWITZERLAND	0.6 %
	IRELAND	0.6 %

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.
0.8%	18.6%	10.9%	15.5%	10.5%

Market Correlations
versus...	Beta	R-squared
S&P500	1.05	88%
MSCI EAFE	0.96	61%
MSCI Emg. Mkts.	0.64	48%

Technical Indicators
Recent close	$135.09
30d moving avg.	$131.39
Annualized volatility	13.5%
Short interest (ETF)	0.1%
Short interest (Underlying)	4.1%
Relative strength (RSI)	65

Liquidity measures
Avg. volume (thou.)	78
Turnover	0.4%
Bid/Ask (% of price)	0.03%
ADV underlying (mns)	$66,091

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P 500 Pure Growth ETF ETF based on the alternatives' overlap in portfolio holdings with RPG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

RPG

Expense:

35 bp

ALTAR Score™:

5.0%

ALTERNATIVE ETFs BASED ON OVERLAP WITH RPG
Ticker	Fund Name	Overlap¹ vs RPG (%)	Expense ratio (bp)	Savings vs RPG (bp)	ALTAR Score™ (%)	ALTAR vs RPG (%)
FTC	First Trust Large Cap Growth	43.1	61	-26	3.1	-1.9
RYT	Invesco S&P Equal Weight Technology	36.6	40	-5	6.1	+1.1
IVW	iShares S&P 500 Growth	35.7	18	17	4.6	-0.4
SPYG	SPDR Portfolio S&P 500 Growth	35.7	4	31	4.7	-0.3
VOOG	Vanguard S&P 500 Growth	35.6	10	25	4.7	-0.3
QQEW	First Trust NASDAQ 100 Equal Weight	35.1	60	-25	4.7	-0.3
QQQE	Direxion NASDAQ-100 Equal Weight	35.1	35	0	5.0	-0.0
IUSG	iShares Core U.S. Growth	34.5	4	31	4.7	-0.3
JKE	iShares Morningstar Large Cap Growth	33.6	25	10	3.4	-1.6
VUG	Vanguard Growth ETF	32.3	4	31	4.2	-0.7
SPHB	Invesco S&P 500 High Beta	31.9	25	10	6.7	+1.7
QGRO	American Century STOXX U.S. Quality Growth	31.8	29	6	5.5	+0.5
SZNE	Pacer CFRA-Stovall Equal Weight Seasonal Rotation	31.6	60	-25	6.9	+1.9
PSET	Principal Price Setters	30.1	29	6	5.3	+0.3
PLC	Principal U.S. Large-Cap Multi-Factor Core Index	30.0	15	20	5.3	+0.4
JMOM	JPMorgan U.S. Momentum Factor	29.6	12	23	4.1	-0.9
MGK	Vanguard Mega Cap 300 Growth	29.5	7	28	4.4	-0.6
SCHG	Schwab U.S. Large-Cap Growth	29.5	4	31	4.3	-0.7
IWF	iShares Russell 1000 Growth	29.5	19	16	4.5	-0.5
VONG	Vanguard Russell 1000 Growth	29.5	8	27	4.7	-0.3

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	**	**	**	**	**	**	**
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 500 Pure Growth ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	26.4	%
Divided by: Fwd. P/BV	5.0	x
Less: Expense ratio	35	bp
Equals: ALTAR Score	5.0	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.48	CATEGORY AVERAGE	1.56

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.