Invesco S&P SmallCap 600 Revenue ETF
ALTAR
Score™
-5.1% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
-2.1x P/Sales
ratio
0.2x
P/BV
ratio
2.0x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
RWJ tracks an index of S&P SmallCap 600 Index stocks that are weighted by revenue.

FUND BASICS
Category US Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Feb 22, 2008
Assets (mns) $360
Currency USD
Expense ratio 39 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Revenue
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 578
Wgt avg mkt cap (mns) $1,479
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 27.9%
Small cap (<$2bn) 72.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LITHIA MOTORS INC-CL A 1.7 %
OFFICE DEPOT INC 1.7 %
UNITED NATURAL FOODS INC 1.6 %
GROUP 1 AUTOMOTIVE INC 1.6 %
J.C. PENNEY CO INC 1.6 %
COMMUNITY HEALTH SYSTEMS INC 1.5 %
CORE-MARK HOLDING CO INC 1.5 %
GAMESTOP CORP-CLASS A 1.4 %
OWENS & MINOR INC 1.4 %
ANIXTER INTERNATIONAL INC 1.3 %
Total 15.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.4 %
BERMUDA 1.4 %
IRELAND 0.4 %
BRITAIN 0.2 %
CAYMAN ISLANDS 0.2 %
PUERTO RICO 0.2 %





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.
16.9% 0.1% 4.7% 11.8% 9.5%

Market Correlations
versus... Beta R-squared
S&P500 1.40 68%
MSCI EAFE 1.27 47%
MSCI Emg. Mkts. 0.74 25%

Technical Indicators
Recent close $67.84
30d moving avg. $65.99
Annualized volatility 20.5%
Short interest (ETF) 0.0%
Short interest (Underlying) 7.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 12
Turnover 0.2%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $7,065

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P SmallCap 600 Revenue ETF ETF based on the alternatives' overlap in portfolio holdings with RWJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RWJ Expense: 39 bp ALTAR Score™: -5.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RWJ
Ticker Fund
Name
Overlap1
vs RWJ
(%)
Expense
ratio
(bp)
Savings
vs RWJ
(bp)
ALTAR
Score™
(%)
ALTAR
vs RWJ
(%)
EWSC Invesco S&P Small Cap 600 Equal Weight 58.1 40 -1 2.9 +8.0
IJR iShares Core S&P Small-Cap 52.9 7 32 5.7 +10.8
SLY SPDR S&P 600 Small Cap 52.8 15 24 5.6 +10.7
SLYV SPDR S&P600 Small Cap Value 52.6 15 24 6.7 +11.8
IJS iShares S&P 600 SmallCap Value 52.5 25 14 6.6 +11.7
VIOO Vanguard S&P Small-Cap 600 52.5 15 24 5.7 +10.8
VIOV Vanguard S&P Small-Cap 600 Value 52.3 20 19 6.7 +11.8
RZV Invesco S&P Smallcap 600 Pure Value 42.9 35 4 6.4 +11.5
EES WisdomTree SmallCap Earnings 36.8 38 1 9.0 +14.0
JPSE JPMorgan Diversified Return U.S. Small Cap Equity 34.4 29 10 4.1 +9.2
PRFZ Invesco FTSE-RAFI Small-Mid 1500 33.1 39 0 4.5 +9.6
FYX First Trust Small Cap Core Alphadex 32.9 66 -27 5.4 +10.5
XSVM Invesco S&P SmallCap Value with Momentum 32.5 39 0 8.0 +13.1
ISMD Inspire Small/Mid Cap Impact 32.1 61 -22 4.6 +9.6
CSA Victory CEMP US Small Cap Volatility Wtd 30.6 35 4 7.1 +12.1
CSF Compass EMP US Discovery 500 Enhanced Vol. 30.1 35 4 7.1 +12.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity 30.1 20 19 5.3 +10.4
IUSS Invesco Strategic US Small Company 29.5 23 16 6.1 +11.2
TPSC Timothy Plan US Small Cap Core 28.9 52 -13 6.7 +11.8
IWM iShares Russell 2000 28.9 19 20 3.5 +8.6

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

Content on this tab for subscribers only

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 SmallCap 600 Revenue ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity -8.9 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 39 bp
Equals: ALTAR Score -5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.72 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.