Invesco S&P 500 Revenue ETF
ALTAR
Score™
7.5% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
14.9x P/Sales
ratio
0.7x
P/BV
ratio
2.3x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
RWL tracks a revenue-weighted index of S&P 500 stocks.

FUND BASICS
Category US Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Feb 22, 2008
Assets (mns) $999
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 502
Wgt avg mkt cap (mns) $180,535
Large cap (>$10bn) 95.1%
Mid cap ($2-10bn) 4.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
WAL-MART STORES INC 4.1 %
APPLE INC 2.4 %
EXXON MOBIL CORP 2.1 %
BERKSHIRE HATHAWAY INC-CL B 2.0 %
UNITEDHEALTH GROUP INC 2.0 %
CVS CAREMARK CORP 2.0 %
AMAZON.COM INC 1.9 %
MCKESSON CORP 1.7 %
AT&T INC 1.5 %
AMERISOURCEBERGEN CORP 1.4 %
Total 21.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.1 %
IRELAND 1.5 %
BRITAIN 1.0 %
SWITZERLAND 0.4 %
BERMUDA 0.1 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
20.2% 10.1% 8.9% 13.1% 8.8%

Market Correlations
versus... Beta R-squared
S&P500 1.06 94%
MSCI EAFE 0.92 60%
MSCI Emg. Mkts. 0.60 42%

Technical Indicators
Recent close $56.94
30d moving avg. $54.73
Annualized volatility 13.2%
Short interest (ETF) 0.0%
Short interest (Underlying) 2.8%
Relative strength (RSI) 70

Liquidity measures
Avg. volume (thou.) 41
Turnover 0.2%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $133,549

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P 500 Revenue ETF ETF based on the alternatives' overlap in portfolio holdings with RWL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RWL Expense: 39 bp ALTAR Score™: 7.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RWL
Ticker Fund
Name
Overlap1
vs RWL
(%)
Expense
ratio
(bp)
Savings
vs RWL
(bp)
ALTAR
Score™
(%)
ALTAR
vs RWL
(%)
VLU SPDR S&P 1500 Value Tilt 72.3 12 27 7.5 -0.0
FNDX Schwab Fundamental Large Cap 70.0 25 14 6.7 -0.9
PRF Invesco FTSE-RAFI U.S. 1000 68.8 39 0 6.7 -0.8
FNDB Schwab Fundamental Broad Mkt 67.8 25 14 6.6 -0.9
IUS Invesco Strategic US 65.0 19 20 6.7 -0.8
PBP Invesco S&P 500 Buy/Write 63.9 49 -10 5.6 -2.0
HSPX Global X S&P 500 Covered Call 63.2 65 -26 5.4 -2.1
SPY S&P 500 SPDR 62.9 9 30 5.9 -1.6
IVV iShares Core S&P 500 62.9 4 35 6.0 -1.5
VOO Vanguard S&P 500 ETF 62.8 3 36 6.0 -1.5
JHML John Hancock Multifactor Large Cap 61.2 34 5 6.0 -1.5
BBUS JP Morgan Betabuilders U.S. Equity 61.1 2 37 5.9 -1.6
VV Vanguard Large-Cap ETF 61.0 4 35 5.9 -1.7
PBUS Invesco PureBeta MSCI USA 60.9 4 35 6.0 -1.5
IVE iShares S&P 500 Value 60.8 18 21 7.0 -0.5
SPYV SPDR Portfolio S&P 500 Value 60.8 4 35 7.2 -0.4
VOOV Vanguard S&P 500 Value 60.7 15 24 7.0 -0.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free 60.7 20 19 6.0 -1.6
SCHX Schwab U.S. Large-Cap 60.6 3 36 5.9 -1.7
SPXT ProShares S&P 500 Ex-Technology 60.2 27 12 6.0 -1.5

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%.

Content on this tab for subscribers only**

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 500 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 16.2 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.55
 
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.