Invesco S&P Financials Revenue
ALTAR
Score™
7.0% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
12.8x P/Sales
ratio
2.0x
P/BV
ratio
1.4x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
RWW tracks a revenue-weighted index of stocks in the S&P 500 Financial Sector Index.

FUND BASICS
Category US Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Nov 13, 2008
Assets (mns) $37
Currency USD
Expense ratio 45 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 67
Wgt avg mkt cap (mns) $209,117
Large cap (>$10bn) 97.8%
Mid cap ($2-10bn) 2.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BERKSHIRE HATHAWAY INC-CL B 14.9 %
JPMORGAN CHASE & CO 8.4 %
BANK OF AMERICA CORP 6.7 %
CITIGROUP INC 6.2 %
WELLS FARGO & CO 6.0 %
METLIFE INC 3.9 %
PRUDENTIAL FINANCIAL INC 3.7 %
GOLDMAN SACHS GROUP INC 3.3 %
MORGAN STANLEY 3.2 %
AMERICAN INTERNATIONAL GROUP 2.9 %
Total 59.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.5 %
SWITZERLAND 1.9 %
BRITAIN 1.2 %
BERMUDA 0.5 %







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.
30.3% 30.3% 9.4% 11.9% 13.2%

Market Correlations
versus... Beta R-squared
S&P500 1.11 74%
MSCI EAFE 1.02 52%
MSCI Emg. Mkts. 0.69 41%

Technical Indicators
Recent close $74.67
30d moving avg. $73.88
Annualized volatility 15.6%
Short interest (ETF) 4.5%
Short interest (Underlying) 1.5%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.8%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $10,637

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: RWW Expense: 45 bp ALTAR Score™: 7.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RWW
Ticker Fund
Name
Overlap1
vs RWW
(%)
Expense
ratio
(bp)
Savings
vs RWW
(bp)
ALTAR
Score™
(%)
ALTAR
vs RWW
(%)
XLF Financials Select Sector SPDR 78.8 13 32 6.7 -0.3
FNCL Fidelity MSCI Financials 67.3 8 37 7.1 +0.1
VFH Vanguard Financials 67.2 10 35 7.1 +0.1
IEFN iShares Evolved U.S. Financials 57.1 18 27 7.1 +0.2
IYF iShares DJ US Financials 54.4 42 3 5.8 -1.1
JHMF John Hancock Multifactor Financials 54.4 40 5 6.4 -0.6
RYF Invesco S&P Equal Weight Financials 52.2 40 5 7.0 +0.0
IYG iShares DJ US Financial Services 50.7 42 3 6.1 -0.9
IXG iShares S&P Global Financial Sector 45.9 46 -1 8.1 +1.1
DFNL Davis Select Financial 39.5 64 -19 6.6 -0.3
SPVU Invesco S&P 500 Value 39.0 13 32 10.1 +3.2
KBWB Invesco KBW Bank Portfolio 38.7 35 10 7.5 +0.5
FTXO First Trust Nasdaq Bank 31.9 60 -15 7.6 +0.7
SPVM Invesco S&P 500 Value with Momentum 28.3 39 6 7.9 +1.0
FXO First Trust Financial Alphadex 27.8 63 -18 7.6 +0.6
PWV Invesco Dynamic Large Cap Value 27.2 55 -10 8.1 +1.1
DUSA Davis Select U.S. Equity 27.2 63 -18 5.1 -1.9
IAK iShares US Insurance 26.9 43 2 6.8 -0.1
RPV Invesco S&P 500 Pure Value ETF 26.0 35 10 10.3 +3.3
IWX iShares Russell Top 200 Value 25.9 20 25 6.6 -0.3

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 Financials Revenue
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 9.6 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 7.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 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.