Invesco S&P MidCap 400 Revenue ETF
ALTAR
Score™
8.2% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
12.5x P/Sales
ratio
0.4x
P/BV
ratio
1.4x Div.
yield
1.8%


  • 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 22, 2008
Assets (mns) $291
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 395
Wgt avg mkt cap (mns) $5,191
Large cap (>$10bn) 4.9%
Mid cap ($2-10bn) 89.3%
Small cap (<$2bn) 5.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TECH DATA CORP 2.6 %
WORLD FUEL SERVICES CORP 2.2 %
ARROW ELECTRONICS INC 1.9 %
SYNNEX CORP 1.7 %
AECOM TECHNOLOGY CORP 1.7 %
JABIL CIRCUIT INC 1.6 %
PBF ENERGY INC-CLASS A 1.5 %
AUTONATION INC 1.4 %
MANPOWER INC 1.4 %
XPO LOGISTICS INC 1.4 %
Total 17.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.3 %
IRELAND 1.3 %
BRITAIN 0.7 %
BERMUDA 0.4 %
SWITZERLAND 0.1 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.9% 8.0% 6.8% 11.6% 9.1%

Market Correlations
versus... Beta R-squared
S&P500 1.36 82%
MSCI EAFE 1.28 60%
MSCI Emg. Mkts. 0.85 47%

Technical Indicators
Recent close $55.46
30d moving avg. $63.47
Annualized volatility 18.1%
Short interest (ETF) 0.0%
Short interest (Underlying) 6.8%
Relative strength (RSI) 31

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.2%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $16,613

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 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™: 8.2%


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 61.0 40 -1 7.0 -1.2
MDY SPDR S&P Midcap 400 ETF Trust 57.2 23 16 6.2 -2.0
SPMD SPDR Portfolio Mid Cap ETF 57.2 5 34 6.4 -1.8
IJH iShares Core S&P Mid-Cap ETF 57.1 6 33 6.4 -1.8
IVOO Vanguard S&P Mid-Cap 400 ETF 57.0 10 29 6.4 -1.9
SMDY Syntax Stratified MidCap ETF 54.8 30 9 6.9 -1.3
MDYV SPDR S&P 400 Mid Cap Value ETF 54.8 15 24 8.7 +0.5
IJJ iShares S&P Mid-Cap 400 Value ETF 54.8 25 14 8.6 +0.4
IVOV Vanguard S&P Mid-Cap 400 Value ETF 54.7 15 24 8.7 +0.5
EZM WisdomTree U.S. MidCap Earnings Fund 41.5 38 1 9.4 +1.2
RFV Invesco S&P Midcap 400 Pure Value ETF 40.4 35 4 12.3 +4.1
PXMV Invesco S&P MidCap Value with Momentum ETF 37.9 39 0 9.8 +1.6
VBR Vanguard Small Cap Value Index Fund 36.3 7 32 8.4 +0.2
MDYG SPDR S&P 400 Mid Cap Growth ETF 35.2 15 24 4.3 -4.0
IJK iShares S&P Mid-Cap 400 Growth ETF 35.2 24 15 4.2 -4.0
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 35.2 15 24 4.3 -4.0
SFYX Sofi Next 500 ETF 34.8 0 39 5.6 -2.6
VB Vanguard Small-Cap ETF 34.3 5 34 5.7 -2.5
FNX First Trust Mid Cap Core AlphaDEX Fund 33.7 61 -22 7.3 -0.9
AFMC First Trust Active Factor Mid Cap ETF 33.2 65 -26 7.4 -0.8

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

Content on this tab for subscribers only

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 11.8 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 8.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 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.