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)	$2,643
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)	$69,627
Large cap (>$10bn)	95.0%
Mid cap ($2-10bn)	5.1%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	17.9 %
KEYSIGHT TECHNOLOGIES INC	2.7 %
CSX CORP	1.9 %
THERMO FISHER SCIENTIFIC INC	1.8 %
SALESFORCE.COM INC	1.8 %
VERTEX PHARMACEUTICALS INC	1.7 %
ADVANCED MICRO DEVICES	1.7 %
AUTODESK INC	1.7 %
ULTA SALON COSMETICS & FRAGR	1.5 %
NETFLIX INC	1.5 %
DEVON ENERGY CORPORATION	1.5 %

TOP COUNTRY EXPOSURE
	UNITED STATES	97.3 %
	IRELAND	1.5 %
	BRITAIN	1.1 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru October 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
20.4%	11.4%	9.2%	15.2%	10.1%

Market Correlations
versus...	Beta	R-squared
S&P500	1.03	87%
MSCI EAFE	0.93	60%
MSCI Emg. Mkts.	0.67	50%

Technical Indicators
Recent close	$120.69
30d moving avg.	$118.31
Annualized volatility	13.4%
Short interest (ETF)	0.1%
Short interest (Underlying)	4.1%
Relative strength (RSI)	55

Liquidity measures
Avg. volume (thou.)	77
Turnover	0.4%
Bid/Ask (% of price)	0.03%
ADV underlying (mns)	$39,077

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™:

4.5%

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 (%)
SPYG	SPDR Portfolio S&P 500 Growth	33.2	4	31	5.1	+0.6
IVW	iShares S&P 500 Growth	33.2	18	17	5.0	+0.5
VOOG	Vanguard S&P 500 Growth	33.1	15	20	5.0	+0.5
IUSG	iShares Core U.S. Growth	31.8	4	31	5.1	+0.6
SPHB	Invesco S&P 500 High Beta	28.4	25	10	6.3	+1.8
JMOM	JPMorgan U.S. Momentum Factor	27.8	12	23	4.4	-0.1
JKE	iShares Morningstar Large Cap Growth	27.6	25	10	4.1	-0.4
BUL	Pacer US Cash Cows Growth	26.6	60	-25	5.4	+0.9
KRMA	Global X Conscious Companies	25.9	43	-8	6.2	+1.8
VOT	Vanguard Mid-Cap Growth	23.7	7	28	4.1	-0.4
NULG	NuShares ESG Large-Cap Growth	23.6	35	0	4.2	-0.3
MTUM	iShares MSCI USA Momentum Factor	23.2	15	20	4.4	-0.1
FTC	First Trust Large Cap Growth	23.2	61	-26	3.7	-0.8
DEF	Invesco Defensive Equity	23.0	59	-24	5.0	+0.5
SPXN	ProShares S&P 500 Ex-Financials	22.8	27	8	6.0	+1.5
QRFT	Qraft Ai-Enhanced U.S. Large Cap ETF	22.7	75	-40	4.7	+0.2
IWF	iShares Russell 1000 Growth	22.7	19	16	5.0	+0.5
VONG	Vanguard Russell 1000 Growth	22.6	12	23	5.1	+0.6
OMOM	Invesco Russell 1000 Momentum Factor ETF	22.4	19	16	5.3	+0.8
VUG	Vanguard Growth ETF	22.4	4	31	4.9	+0.4

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

	2014	2015	2016	2017	2018	2019E	2020E
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

	2018	2019E	2020E
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:

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	17.9	%
Divided by: Fwd. P/BV	3.7	x
Less: Expense ratio	35	bp
Equals: ALTAR Score	4.5	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.52	CATEGORY AVERAGE	1.55

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.