Invesco S&P 500 Equal Weight ETF
ALTAR
Score™
6.6% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
26.9x P/Sales
ratio
1.5x
P/BV
ratio
2.1x Div.
yield
2.2%


  • 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 30, 2003
Assets (mns) $11,828
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) $53,560
Large cap (>$10bn) 79.8%
Mid cap ($2-10bn) 20.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HALLIBURTON CO 0.3 %
CARRIER GLOBAL CORP. 0.3 %
LENNAR CORP-CL A 0.3 %
DISH NETWORK CORP-A 0.3 %
ROYAL CARIBBEAN CRUISES LTD 0.3 %
DR HORTON INC 0.3 %
PAYPAL HOLDINGS INC 0.3 %
MARATHON PETROLEUM 0.3 %
DISCOVER FINANCIAL SERVICES 0.3 %
FLIR SYSTEMS INC 0.3 %
Total 2.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.6 %
IRELAND 2.0 %
BRITAIN 1.8 %
SWITZERLAND 0.6 %
BERMUDA 0.2 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.2% 2.3% 6.0% 11.4% 10.6%

Market Correlations
versus... Beta R-squared
S&P500 1.14 96%
MSCI EAFE 1.18 88%
MSCI Emg. Mkts. 0.88 74%

Technical Indicators
Recent close $106.51
30d moving avg. $96.20
Annualized volatility 19.7%
Short interest (ETF) 11.7%
Short interest (Underlying) 4.3%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 1,744
Turnover 1.6%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $248,560

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™: 6.6%


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 80.4 9 11 5.8 -0.8
EUSA iShares MSCI USA Equal Weighted ETF 76.5 15 5 6.0 -0.7
SIZE iShares Edge MSCI USA Size Factor ETF 74.3 15 5 5.8 -0.8
RVRS Reverse Cap Weighted U.S. Large Cap ETF 68.6 29 -9 7.0 +0.4
CFA VictoryShares US 500 Volatility Weighted Index ETF 64.6 35 -15 5.7 -0.9
JHML John Hancock Multifactor Large Cap ETF 61.0 34 -14 5.5 -1.1
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 59.4 29 -9 6.5 -0.2
RNLC Large Cap US Equity Select ETF 58.6 60 -40 6.0 -0.6
SCIU Global X Scientific Beta US ETF 57.5 19 1 5.7 -1.0
FEX First Trust Large Cap Core AlphaDEX Fund 55.7 60 -40 5.9 -0.7
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 55.3 17 3 6.8 +0.2
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 52.3 17 3 6.4 -0.3
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 52.0 9 11 5.6 -1.1
PBP Invesco S&P 500 BuyWrite ETF 51.3 49 -29 5.1 -1.5
ONEO SPDR Russell 1000 Momentum Focus ETF 51.2 20 0 6.4 -0.3
JPUS JPMorgan Diversified Return U.S. Equity ETF 51.0 19 1 6.1 -0.5
HSPX Global X S&P 500 Covered Call ETF 50.7 65 -45 4.9 -1.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 50.6 30 -10 6.6 +0.0
VLU SPDR S&P 1500 Value Tilt ETF 49.3 12 8 7.1 +0.5
SPLG SPDR Portfolio Large Cap ETF 49.1 3 17 5.5 -1.2
IVV iShares Core S&P 500 ETF 49.1 4 16 5.5 -1.2
SPY SPDR S&P 500 ETF Trust 49.1 9 11 5.4 -1.2
VOO VANGUARD S&P 500 ETF 48.7 3 17 5.5 -1.2
EQAL Invesco Russell 1000 Equal Weight ETF 48.5 20 0 4.9 -1.7
SPXT ProShares S&P 500 Ex-Technology ETF 48.0 27 -7 5.6 -1.0
SPXE ProShares S&P 500 Ex-Energy ETF 47.9 27 -7 5.4 -1.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 47.9 20 0 5.5 -1.2
AVUS Avantis U.S. Equity ETF 47.9 15 5 5.7 -0.9
PBUS Invesco PureBeta MSCI USA ETF 47.7 4 16 5.3 -1.3
IWR iShares Russell Midcap ETF 47.6 19 1 5.6 -1.1
VV Vanguard Large-Cap Index Fund 47.6 4 16 5.3 -1.3
RWL Invesco S&P 500 Revenue ETF 47.4 39 -19 6.7 +0.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 47.4 2 18 5.4 -1.2
CATH Global X S&P 500 Catholic Values Custom ETF 47.3 29 -9 5.3 -1.3
SCHX Schwab U.S. Large-Cap ETF 47.0 3 17 5.4 -1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 47.0 25 -5 6.4 -0.2
IVE iShares S&P 500 Value ETF 46.9 18 2 7.0 +0.4
SPYV SPDR Portfolio S&P 500 Value ETF 46.9 4 16 7.2 +0.5
SPTM SPDR Portfolio Total Stock Market ETF 46.9 3 17 5.6 -1.1
PRF Invesco FTSE RAFI US 1000 ETF 46.8 39 -19 6.6 -0.0
VOOV Vanguard S&P 500 Value ETF 46.8 15 5 7.1 +0.4
IWB iShares Russell 1000 ETF 46.2 15 5 5.2 -1.4
SCHK Schwab 1000 Index ETF 46.1 5 15 5.3 -1.3
VONE Vanguard Russell 1000 ETF 46.0 8 12 5.3 -1.3
IYY iShares Dow Jones U.S. ETF 45.9 20 0 5.2 -1.4
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 45.8 35 -15 5.7 -0.9
FNDB Schwab Fundamental U.S. Broad Market Index ETF 45.6 25 -5 6.4 -0.2
EPS WisdomTree U.S. Earnings 500 Fund 45.5 8 12 6.4 -0.3
IUSV iShares Core S&P U.S. Value ETF 45.5 4 16 7.2 +0.6
SPXV ProShares S&P 500 Ex-Health Care ETF 45.4 27 -7 5.1 -1.5
VTI Vanguard Total Stock Market Index Fund 44.8 3 17 5.2 -1.4
SCHB Schwab U.S. Broad Market ETF 44.8 3 17 5.3 -1.3
VO Vanguard Mid-Cap Index Fund 44.8 4 16 5.4 -1.3
ITOT iShares Core S&P Total U.S. Stock Market ETF 44.8 3 17 5.2 -1.4
IWV iShares Russell 3000 ETF 44.6 20 0 5.1 -1.5
VTHR Vanguard Russell 3000 Index Fund 44.6 10 10 5.2 -1.5
QUS SPDR MSCI USA StrategicFactors ETF 44.3 15 5 5.8 -0.9
SFY SoFi Select 500 ETF 43.8 0 20 5.3 -1.3
JHMM John Hancock Multifactor Mid Cap ETF 43.7 44 -24 5.6 -1.0
IWD iShares Russell 1000 Value ETF 43.2 19 1 6.9 +0.2
SPXN ProShares S&P 500 Ex-Financials ETF 43.0 27 -7 5.1 -1.5
VONV Vanguard Russell 1000 Value Index Fund 42.9 8 12 7.0 +0.4
RNDV US Equity Dividend Select ETF 41.6 50 -30 7.4 +0.8
IUS Invesco Strategic US ETF 41.4 19 1 6.2 -0.5
ESGU iShares MSCI USA ESG Optimized ETF 41.2 15 5 5.1 -1.5
DIVB iShares U.S. Dividend & Buyback ETF 40.9 25 -5 6.3 -0.3
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 40.7 25 -5 6.1 -0.6
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 40.7 35 -15 5.8 -0.8
IWS iShares Russell Mid-Cap Value ETF 40.6 24 -4 6.9 +0.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 40.3 29 -9 6.1 -0.6
SCHV Schwab U.S. Large-Cap Value ETF 39.6 4 16 6.9 +0.3
ESGV Vanguard ESG U.S. Stock ETF 39.6 12 8 5.3 -1.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 39.2 20 0 5.0 -1.6
TOK iShares MSCI Kokusai ETF 38.9 25 -5 5.7 -0.9
DTD WisdomTree U.S.Total Dividend Fund 38.4 28 -8 6.5 -0.2
EXT WisdomTree U.S. Total Earnings Fund 38.2 28 -8 5.7 -0.9
AFLG First Trust Active Factor Large Cap ETF 38.2 55 -35 5.6 -1.1
VTV Vanguard Value Index Fund 38.1 4 16 7.1 +0.5
TUSA First Trust Total US Market AlphaDEX ETF 37.9 70 -50 5.9 -0.8
URTH iShares MSCI World ETF 37.9 24 -4 5.8 -0.8
TPLC Timothy Plan US Large Cap Core ETF 37.6 52 -32 5.3 -1.3
MGC Vanguard Mega Cap Index Fund 37.5 7 13 5.3 -1.3
IQSU IQ Candriam ESG US Equity ETF 37.4 9 11 5.3 -1.4
DLN WisdomTree U.S. LargeCap Dividend Fund 37.2 28 -8 6.3 -0.4
RBUS Nationwide Risk-Based U.S. Equity ETF 37.0 30 -10 5.1 -1.6
SNPE Xtrackers S&P 500 ESG ETF 36.8 11 9 5.2 -1.5
BFOR Barron's 400 ETF 36.7 66 -46 6.2 -0.5
ROUS Hartford Multifactor US Equity ETF 36.7 19 1 7.1 +0.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 36.7 12 8 5.1 -1.5
ONEV SPDR Russell 1000 Low Volatility Focus ETF 36.3 20 0 6.8 +0.2
USDY Pacific Global US Equity Income ETF 36.0 29 -9 7.5 +0.9
FAB First Trust Multi Cap Value AlphaDEX Fund 35.8 71 -51 8.9 +2.2
SUSL iShares ESG MSCI USA Leaders ETF 35.7 10 10 5.4 -1.2
DSI iShares MSCI KLD 400 Social ETF 35.6 25 -5 5.2 -1.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 35.4 10 10 5.4 -1.2
MXDU Nationwide Maximum Diversification US Core Equity ETF 35.4 34 -14 5.2 -1.4
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 35.1 24 -4 5.9 -0.7
SPYG SPDR Portfolio S&P 500 Growth ETF 35.1 4 16 4.5 -2.2
IVW iShares S&P 500 Growth ETF 35.1 18 2 4.3 -2.3
FTA First Trust Large Cap Value AlphaDEX Fund 35.0 60 -40 8.6 +2.0

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 13.6 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.53
 
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.