Invesco S&P MidCap 400 Revenue ETF
ALTAR
Score™
6.4% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
27.1x P/Sales
ratio
0.6x
P/BV
ratio
1.8x Div.
yield
1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
RWK tracks a revenue-weighted index of the S&P Mid Cap 400 Index.

FUND BASICS
Category US Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Feb 20, 2008
Assets (mns) $308
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 396
Wgt avg mkt cap (mns) $5,591
Large cap (>$10bn) 6.7%
Mid cap ($2-10bn) 90.3%
Small cap (<$2bn) 3.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
JABIL CIRCUIT INC 2.1 %
ARROW ELECTRONICS INC 2.1 %
WORLD FUEL SERVICES CORP 1.8 %
AUTONATION INC 1.6 %
AVNET INC 1.5 %
TENET HEALTHCARE CORP 1.5 %
MOLINA HEALTHCARE INC 1.4 %
KOHLS CORP 1.3 %
FLUOR CORP 1.3 %
MANPOWER INC 1.3 %
Total 16.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.9 %
IRELAND 1.1 %
BERMUDA 0.5 %
BRITAIN 0.4 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
11.0% 11.0% 10.7% 10.7% 9.7%

Market Correlations
versus... Beta R-squared
S&P500 1.45 88%
MSCI EAFE 1.41 83%
MSCI Emg. Mkts. 1.16 71%

Technical Indicators
Recent close $75.42
30d moving avg. $72.93
Annualized volatility 29.0%
Short interest (ETF) 0.1%
Short interest (Underlying) 6.8%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 18
Turnover 0.4%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $22,977

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco S&P MidCap 400 Revenue ETF ETF based on the alternatives' overlap in portfolio holdings with RWK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RWK Expense: 39 bp ALTAR Score™: 6.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RWK
Ticker Fund
Name
Overlap1
vs RWK
(%)
Expense
ratio
(bp)
Savings
vs RWK
(bp)
ALTAR
Score™
(%)
ALTAR
vs RWK
(%)
EWMC Invesco S&P MidCap 400 Equal Weight ETF 60.9 40 -1 5.7 -0.8
MDYV SPDR S&P 400 Mid Cap Value ETF 59.6 15 24 7.0 +0.6
IJJ iShares S&P Mid-Cap 400 Value ETF 59.5 18 21 7.0 +0.5
MDY SPDR S&P Midcap 400 ETF Trust 57.5 23 16 5.2 -1.3
SPMD SPDR Portfolio Mid Cap ETF 57.5 5 34 5.3 -1.1
IJH iShares Core S&P Mid-Cap ETF 57.5 5 34 5.3 -1.1
IVOO Vanguard S&P Mid-Cap 400 ETF 55.7 10 29 5.3 -1.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 54.2 15 24 6.7 +0.3
XJH iShares ESG Screened S&P Mid-Cap ETF 54.1 12 27 5.4 -1.0
SMDY Syntax Stratified MidCap ETF 53.8 30 9 5.2 -1.3
RFV Invesco S&P Midcap 400 Pure Value ETF 43.4 35 4 8.9 +2.5
EZM WisdomTree U.S. MidCap Earnings Fund 40.8 38 1 7.6 +1.2
XMVM Invesco S&P MidCap Value with Momentum ETF 37.5 39 0 8.1 +1.7
VBR Vanguard Small Cap Value Index Fund 36.3 7 32 6.5 +0.1
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 35.6 7 32 3.9 -2.5
FNX First Trust Mid Cap Core AlphaDEX Fund 33.4 61 -22 5.1 -1.3
BKSE BNY Mellon US Small Cap Core Equity ETF 33.2 4 35 4.7 -1.7
MDYG SPDR S&P 400 Mid Cap Growth ETF 32.5 15 24 3.8 -2.7
IJK iShares S&P Mid-Cap 400 Growth ETF 32.4 17 22 3.8 -2.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 32.1 6 33 4.0 -2.4
JKL iShares Morningstar Small Cap Value ETF 32.0 30 9 7.6 +1.2
VB Vanguard Small-Cap ETF 31.3 5 34 4.4 -2.0
AFMC First Trust Active Factor Mid Cap ETF 31.3 65 -26 5.2 -1.2
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 31.2 15 24 4.2 -2.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 31.0 17 22 4.0 -2.4
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF 30.5 60 -21 3.7 -2.8
SFYX Sofi Next 500 ETF 30.3 0 39 4.8 -1.6
RNMC Mid Cap US Equity Select ETF 30.1 60 -21 6.1 -0.3
FNK First Trust Mid Cap Value AlphaDEX Fund 29.9 70 -31 7.8 +1.4
DON WisdomTree U.S. MidCap Dividend Fund 29.5 38 1 6.7 +0.3
SCHM Schwab U.S. Mid-Cap ETF 27.5 4 35 5.0 -1.4
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 27.3 20 19 0.0 -6.4
SCHA Schwab U.S. Small-Cap ETF 27.1 4 35 3.6 -2.8
FSMD Fidelity Small-Mid Factor ETF 26.9 29 10 5.3 -1.1
JHSC John Hancock Multifactor Small Cap ETF 26.8 42 -3 4.6 -1.9
FNDA Schwab Fundamental U.S. Small Co. Index ETF 25.2 25 14 4.8 -1.6
IUSS Invesco Strategic US Small Company ETF 25.0 23 16 3.6 -2.8
VXF Vanguard Extended Market Index Fund 24.4 6 33 2.5 -3.9
VUSE Vident Core US Equity Fund 22.0 48 -9 7.4 +1.0
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 21.7 29 10 6.0 -0.4
AVUV Avantis U.S. Small Cap Value ETF 21.6 25 14 6.4 -0.0
SMMD iShares Russell 2500 ETF 20.7 15 24 4.7 -1.7
JHMM John Hancock Multifactor Mid Cap ETF 20.5 42 -3 4.7 -1.7
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 20.0 80 -41 4.7 -1.8
EQAL Invesco Russell 1000 Equal Weight ETF 19.8 20 19 5.1 -1.4
NUSC Nuveen ESG Small-Cap ETF 19.6 40 -1 3.9 -2.5
JKJ iShares Morningstar Small-Cap ETF 19.6 25 14 5.1 -1.3
FAB First Trust Multi Cap Value AlphaDEX Fund 19.0 71 -32 7.6 +1.2
VFVA Vanguard U.S. Value Factor ETF 18.8 14 25 8.5 +2.1
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 18.7 24 15 5.5 -0.9
ONEV SPDR Russell 1000 Low Volatility Focus ETF 18.5 20 19 6.2 -0.2
ONEO SPDR Russell 1000 Momentum Focus ETF 18.1 20 19 5.6 -0.8
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 17.6 29 10 7.3 +0.9
XMMO Invesco S&P MidCap Momentum ETF 17.5 34 5 3.4 -3.0
VTWO Vanguard Russell 2000 Index Fund 17.5 10 29 2.7 -3.8
XMHQ Invesco S&P MidCap Quality ETF 17.0 25 14 5.4 -1.0
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 16.2 30 9 6.1 -0.4
IWS iShares Russell Mid-Cap Value ETF 16.1 24 15 6.0 -0.4
ONEY SPDR Russell 1000 Yield Focus ETF 16.0 20 19 7.3 +0.9
XMLV Invesco S&P MidCap Low Volatility ETF 15.9 25 14 5.0 -1.4
IWM iShares Russell 2000 ETF 15.7 19 20 2.5 -3.9
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 15.7 17 22 5.7 -0.8
PSC Principal U.S. Small Cap Index ETF 15.6 38 1 4.5 -1.9
STMB iShares Factors US Mid Blend Style ETF 15.5 30 9 5.0 -1.5
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 15.1 24 15 4.9 -1.5
TUSA First Trust Total US Market AlphaDEX ETF 15.0 70 -31 4.8 -1.6
VFMF Vanguard U.S. Multifactor ETF 15.0 19 20 6.1 -0.3
VFQY Vanguard U.S. Quality Factor ETF 14.8 13 26 5.3 -1.1
IWN iShares Russell 2000 Value ETF 14.6 24 15 5.0 -1.4
VBK Vanguard Small-Cap Growth Index Fund 14.6 7 32 1.9 -4.5
IWR iShares Russell Midcap ETF 14.2 19 20 4.8 -1.7
COWZ Pacer US Cash Cows 100 ETF 14.2 49 -10 10.1 +3.7
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 14.1 20 19 3.6 -2.8
VTWV Vanguard Russell 2000 Value Index Fund 13.9 15 24 5.2 -1.3
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 13.8 20 19 3.8 -2.7
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 13.7 35 4 5.1 -1.3
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 13.7 25 14 4.9 -1.5
VFLQ Vanguard U.S. Liquidity Factor ETF 13.5 14 25 3.5 -2.9
FNY First Trust Mid Cap Growth AlphaDEX Fund 13.5 70 -31 1.6 -4.8
JVAL JPMorgan U.S. Value Factor ETF 13.3 12 27 7.1 +0.7
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 13.3 29 10 4.2 -2.2
RFG Invesco S&P Midcap 400 Pure Growth ETF 13.2 35 4 3.4 -3.1
SIXL 6 Meridian Low Beta Equity Strategy ETF 13.2 84 -45 4.0 -2.4
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 12.2 30 9 5.4 -1.1
RNSC Small Cap US Equity Select ETF 12.1 60 -21 6.0 -0.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 12.1 39 0 3.5 -2.9
BFOR Barron's 400 ETF 11.8 65 -26 5.6 -0.8
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 11.3 60 -21 6.2 -0.2
STSB iShares Factors US Small Blend Style ETF 11.3 35 4 2.9 -3.5
IFRA iShares U.S. Infrastructure ETF 11.3 40 -1 5.0 -1.4
AFSM First Trust Active Factor Small Cap ETF 11.1 77 -38 4.3 -2.1
USMF WisdomTree U.S. Multifactor Fund 11.0 28 11 5.4 -1.1
JDIV JPMorgan U.S. Dividend ETF 11.0 12 27 6.7 +0.3
FYX First Trust Small Cap Core AlphaDEX Fund 11.0 63 -24 5.4 -1.0
VALQ American Century STOXX U.S. Quality Value ETF 10.8 29 10 7.8 +1.4
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 10.7 48 -9 5.6 -0.8
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 10.7 63 -24 5.2 -1.2
ISMD Inspire Small/Mid Cap Impact ETF 10.7 60 -21 4.3 -2.1
FAD First Trust Multi Cap Growth AlphaDEX Fund 10.7 66 -27 1.8 -4.6

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

  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 MidCap 400 Revenue 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 11.1 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 6.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.49
 
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.