Invesco S&P 500 Equal Weight ETF
ALTAR
Score™
6.5% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
26.0x P/Sales
ratio
1.5x
P/BV
ratio
2.2x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Equal Weight 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 Equal Weight Index.

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Apr 24, 2003
Assets (mns) $12,767
Currency USD
Expense ratio 20 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 504
Wgt avg mkt cap (mns) $60,628
Large cap (>$10bn) 83.6%
Mid cap ($2-10bn) 16.4%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
L BRANDS, INC. 0.3 %
VARIAN MEDICAL SYSTEMS INC 0.3 %
ADVANCED MICRO DEVICES 0.3 %
HOLOGIC INC 0.3 %
UNITED PARCEL SERVICE-CL B 0.3 %
WEST PHARMACEUTICAL SERVICES 0.3 %
WHIRLPOOL CORP 0.3 %
FORTUNE BRANDS HOME & SECURI 0.3 %
LAM RESEARCH CORP 0.3 %
PULTE HOMES INC 0.2 %
Total 2.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.1 %
IRELAND 2.0 %
BRITAIN 1.9 %
SWITZERLAND 0.6 %
BERMUDA 0.2 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.5% 0.4% 7.7% 12.0% 10.9%

Market Correlations
versus... Beta R-squared
S&P500 1.14 96%
MSCI EAFE 1.18 87%
MSCI Emg. Mkts. 0.84 73%

Technical Indicators
Recent close $108.42
30d moving avg. $104.47
Annualized volatility 19.9%
Short interest (ETF) 7.6%
Short interest (Underlying) 4.3%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 1,584
Turnover 1.4%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $204,357

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco S&P 500 Equal Weight ETF ETF based on the alternatives' overlap in portfolio holdings with RSP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RSP Expense: 20 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RSP
Ticker Fund
Name
Overlap1
vs RSP
(%)
Expense
ratio
(bp)
Savings
vs RSP
(bp)
ALTAR
Score™
(%)
ALTAR
vs RSP
(%)
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 82.6 9 11 5.8 -0.7
EUSA iShares MSCI USA Equal Weighted ETF 76.3 15 5 6.0 -0.5
SIZE iShares Edge MSCI USA Size Factor ETF 75.6 15 5 6.1 -0.4
CFA VictoryShares US 500 Volatility Weighted Index ETF 66.9 35 -15 5.6 -0.8
RVRS Reverse Cap Weighted U.S. Large Cap ETF 65.4 29 -9 7.8 +1.4
JHML John Hancock Multifactor Large Cap ETF 61.9 29 -9 5.4 -1.1
SCIU Global X Scientific Beta US ETF 60.6 19 1 5.6 -0.9
RNLC Large Cap US Equity Select ETF 58.7 60 -40 6.1 -0.4
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 58.5 29 -9 6.7 +0.3
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 57.7 17 3 6.3 -0.2
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 55.3 17 3 6.2 -0.3
FEX First Trust Large Cap Core AlphaDEX Fund 55.2 60 -40 5.8 -0.7
ONEO SPDR Russell 1000 Momentum Focus ETF 54.4 20 0 6.2 -0.3
JPUS JPMorgan Diversified Return U.S. Equity ETF 53.0 18 2 6.0 -0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 52.8 9 11 5.3 -1.1
DYNF BlackRock U.S. Equity Factor Rotation ETF 52.6 30 -10 6.3 -0.2
PBP Invesco S&P 500 BuyWrite ETF 50.7 49 -29 4.8 -1.6
HSPX Global X S&P 500 Covered Call ETF 50.4 65 -45 4.7 -1.8
BKMC BNY Mellon US Mid Cap Core Equity ETF 50.2 4 16 5.4 -1.1
SPLG SPDR Portfolio Large Cap ETF 49.7 3 17 5.2 -1.3
SPY SPDR S&P 500 ETF Trust 49.7 9 11 5.2 -1.3
IVV iShares Core S&P 500 ETF 49.7 4 16 5.2 -1.3
EQAL Invesco Russell 1000 Equal Weight ETF 49.7 20 0 5.4 -1.0
VOO VANGUARD S&P 500 ETF 49.5 3 17 5.2 -1.3
RWL Invesco S&P 500 Revenue ETF 49.3 39 -19 7.0 +0.5
VLU SPDR S&P 1500 Value Tilt ETF 49.2 12 8 7.2 +0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 49.2 20 0 5.1 -1.4
IWR iShares Russell Midcap ETF 49.1 19 1 5.5 -1.0
SPXT ProShares S&P 500 Ex-Technology ETF 49.1 27 -7 5.4 -1.0
SPXE ProShares S&P 500 Ex-Energy ETF 48.8 27 -7 5.1 -1.4
CATH Global X S&P 500 Catholic Values Custom ETF 48.6 29 -9 5.0 -1.5
SPYV SPDR Portfolio S&P 500 Value ETF 48.5 4 16 7.3 +0.8
VONV Vanguard Russell 1000 Value Index Fund 48.4 8 12 6.9 +0.4
IVE iShares S&P 500 Value ETF 48.4 18 2 7.1 +0.6
IWD iShares Russell 1000 Value ETF 48.4 19 1 6.8 +0.3
VOOV Vanguard S&P 500 Value ETF 48.4 15 5 7.1 +0.7
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 48.3 35 -15 5.2 -1.2
FNDX Schwab Fundamental U.S. Large Co. Index ETF 48.1 25 -5 6.2 -0.2
AVUS Avantis U.S. Equity ETF 48.0 15 5 5.5 -1.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 47.9 2 18 5.1 -1.4
PBUS Invesco PureBeta MSCI USA ETF 47.7 4 16 5.1 -1.4
SPTM SPDR Portfolio Total Stock Market ETF 47.5 3 17 5.3 -1.2
SCHX Schwab U.S. Large-Cap ETF 47.4 3 17 5.1 -1.4
PRF Invesco FTSE RAFI US 1000 ETF 47.4 39 -19 6.6 +0.1
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 47.2 7 13 5.0 -1.5
VV Vanguard Large-Cap Index Fund 47.2 4 16 5.0 -1.4
QUS SPDR MSCI USA StrategicFactors ETF 47.0 15 5 5.7 -0.8
IUSV iShares Core S&P U.S. Value ETF 46.9 4 16 7.3 +0.8
SCHK Schwab 1000 Index ETF 46.6 5 15 5.1 -1.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 46.5 25 -5 6.2 -0.2
VONE Vanguard Russell 1000 ETF 46.3 8 12 5.0 -1.5
VO Vanguard Mid-Cap Index Fund 46.3 4 16 5.1 -1.4
ESGU iShares MSCI USA ESG Optimized ETF 46.3 15 5 4.9 -1.6
IYY iShares Dow Jones U.S. ETF 46.3 20 0 5.0 -1.5
IWB iShares Russell 1000 ETF 46.2 15 5 4.9 -1.6
EPS WisdomTree U.S. Earnings 500 Fund 46.2 8 12 6.3 -0.2
IWS iShares Russell Mid-Cap Value ETF 46.1 24 -4 7.0 +0.5
SPXV ProShares S&P 500 Ex-Health Care ETF 45.4 27 -7 4.8 -1.7
SCHB Schwab U.S. Broad Market ETF 45.2 3 17 5.0 -1.5
ITOT iShares Core S&P Total U.S. Stock Market ETF 45.1 3 17 5.0 -1.5
IWV iShares Russell 3000 ETF 44.9 20 0 4.8 -1.7
VTHR Vanguard Russell 3000 Index Fund 44.8 10 10 4.9 -1.6
IUS Invesco Strategic US ETF 44.7 19 1 6.3 -0.2
JHMM John Hancock Multifactor Mid Cap ETF 44.6 42 -22 5.5 -1.0
VTI Vanguard Total Stock Market Index Fund 44.3 3 17 4.9 -1.6
SFY SoFi Select 500 ETF 44.2 0 20 5.0 -1.5
SPXN ProShares S&P 500 Ex-Financials ETF 43.9 27 -7 4.8 -1.7
DIVB iShares U.S. Dividend & Buyback ETF 42.5 25 -5 6.4 -0.1
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 42.0 35 -15 5.7 -0.8
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 41.9 25 -5 6.3 -0.2
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 41.2 29 -9 5.8 -0.6
SCHV Schwab U.S. Large-Cap Value ETF 40.7 4 16 7.1 +0.6
RBUS Nationwide Risk-Based U.S. Equity ETF 40.3 30 -10 4.6 -1.9
ONEV SPDR Russell 1000 Low Volatility Focus ETF 40.1 20 0 6.8 +0.3
VTV Vanguard Value Index Fund 40.1 4 16 7.3 +0.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 39.9 20 0 4.7 -1.7
ESGV Vanguard ESG U.S. Stock ETF 39.6 12 8 4.9 -1.6
AFLG First Trust Active Factor Large Cap ETF 39.2 55 -35 5.3 -1.1
KOKU Xtrackers MSCI Kokusai Equity ETF 39.1 9 11 5.5 -1.0
DTD WisdomTree U.S.Total Dividend Fund 39.0 28 -8 6.5 -0.0
TOK iShares MSCI Kokusai ETF 38.8 25 -5 5.4 -1.1
BFOR Barron's 400 ETF 38.1 65 -45 6.1 -0.4
DLN WisdomTree U.S. LargeCap Dividend Fund 38.1 28 -8 6.3 -0.2
ROUS Hartford Multifactor US Equity ETF 38.0 19 1 7.0 +0.6
IQSU IQ Candriam ESG US Equity ETF 37.7 9 11 4.9 -1.6
MMTM SPDR S&P 1500 Momentum Tilt ETF 37.6 12 8 4.4 -2.0
URTH iShares MSCI World ETF 37.6 24 -4 5.5 -1.0
EXT WisdomTree U.S. Total Earnings Fund 37.4 28 -8 5.0 -1.4
SNPE Xtrackers S&P 500 ESG ETF 37.4 11 9 4.9 -1.6
MGC Vanguard Mega Cap Index Fund 37.3 7 13 5.0 -1.5
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 37.1 24 -4 6.0 -0.5
TUSA First Trust Total US Market AlphaDEX ETF 36.8 70 -50 5.7 -0.8
DSI iShares MSCI KLD 400 Social ETF 36.6 25 -5 5.0 -1.5
SUSL iShares ESG MSCI USA Leaders ETF 36.4 10 10 5.2 -1.3
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 36.2 10 10 5.2 -1.3
RNDV US Equity Dividend Select ETF 35.6 50 -30 8.0 +1.5
SPYG SPDR Portfolio S&P 500 Growth ETF 35.5 4 16 4.2 -2.3
VOOG Vanguard S&P 500 Growth ETF 35.5 10 10 4.1 -2.4
IVW iShares S&P 500 Growth ETF 35.5 18 2 4.0 -2.5
MXDU Nationwide Maximum Diversification US Core Equity ETF 35.3 34 -14 4.7 -1.8

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 500 Equal Weight 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 13.8 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.52
 
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.