Invesco S&P Equal Weight Materials
ALTAR
Score™
8.4% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
17.6x P/Sales
ratio
1.5x
P/BV
ratio
1.8x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Equal Weight Materials ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate as closely as possible the performance of the S&P Equal Weight Materials Index.

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Nov 07, 2006
Assets (mns) $140
Currency USD
Expense ratio 40 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 29
Wgt avg mkt cap (mns) $25,156
Large cap (>$10bn) 90.2%
Mid cap ($2-10bn) 9.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
DOW, INC. 4.0 %
AVERY DENNISON CORP 4.0 %
INTL FLAVORS & FRAGRANCES 3.9 %
LYONDELLBASELL INDU-CL A 3.9 %
AIR PRODUCTS & CHEMICALS INC 3.8 %
FMC CORP 3.8 %
PRAXAIR INC 3.8 %
SHERWIN-WILLIAMS CO/THE 3.8 %
FREEPORT-MCMORAN COPPER 3.8 %
INTERNATIONAL PAPER CO 3.8 %
Total 38.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 88.6 %
BRITAIN 7.6 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
21.0% 11.1% 7.6% 10.3% 8.2%

Market Correlations
versus... Beta R-squared
S&P500 1.06 76%
MSCI EAFE 1.10 68%
MSCI Emg. Mkts. 0.82 61%

Technical Indicators
Recent close $111.86
30d moving avg. $111.69
Annualized volatility 14.7%
Short interest (ETF) 2.3%
Short interest (Underlying) 4.5%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.4%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $3,973

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: RTM Expense: 40 bp ALTAR Score™: 8.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RTM
Ticker Fund
Name
Overlap1
vs RTM
(%)
Expense
ratio
(bp)
Savings
vs RTM
(bp)
ALTAR
Score™
(%)
ALTAR
vs RTM
(%)
JHMA John Hancock Multifactor Materials 68.8 40 0 7.5 -0.9
XLB Materials Select Sector SPDR 68.7 13 27 9.3 +0.9
VAW Vanguard Materials 58.5 10 30 8.6 +0.3
FMAT Fidelity MSCI Materials 58.3 8 32 8.6 +0.2
IYM iShares DJ US Basic Material 50.2 42 -2 8.7 +0.3
FXZ First Trust Materials Alphadex 37.8 64 -24 7.8 -0.6
XLSY Cushing Energy Supply Chain & MLP 36.7 65 -25 5.4 -3.0
PYZ Invesco Dynamic Basic Materials Sector 35.6 60 -20 5.9 -2.5
MXI iShares S&P Global Materials 33.3 46 -6 6.8 -1.6
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation 23.8 60 -20 7.4 -1.0
CUT Invesco Timber 17.8 55 -15 7.0 -1.4
FTAG First Trust Indxx Global Agriculture 16.4 70 -30 8.5 +0.1
NANR SPDR S&P N. American Nat. Resources 15.3 35 5 4.1 -4.3
EQRR ProShares Equities for Rising Rates 14.6 35 5 7.9 -0.5
RDIV Invesco S&P Ultra Dividend Revenue ETF 12.8 39 1 10.4 +2.0
DIET Defiance Next Gen Food & Agriculture 12.3 30 10 5.7 -2.7
VEGI iShares MSCI Global Agriculture Producers 11.4 39 1 6.9 -1.5
XME SPDR Metals & Mining ETF 11.0 35 5 2.2 -6.2
GNR SPDR S&P Global Nat. Resources 10.9 40 0 6.4 -2.0
YLDE ClearBridge Dividend Strategy ESG 10.7 60 -20 4.6 -3.8

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  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 Equal Weight Materials
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 14.6 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 8.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 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.
 

 

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.