Invesco S&P Equal Weight Energy ETF
ALTAR
Score™
3.4% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
20.2x P/Sales
ratio
1.0x
P/BV
ratio
1.2x Div.
yield
3.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Equal Weight Energy ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate the performance of the S&P Equal Weight Energy Index.

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Nov 07, 2006
Assets (mns) $127
Currency USD
Expense ratio 40 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Equal
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 29
Wgt avg mkt cap (mns) $39,730
Large cap (>$10bn) 62.7%
Mid cap ($2-10bn) 37.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MARATHON PETROLEUM 4.2 %
PHILLIPS 66 4.1 %
HALLIBURTON CO 4.1 %
VALERO ENERGY CORP 4.0 %
CONOCOPHILLIPS 4.0 %
CONCHO RESOURCES INC 3.8 %
NATIONAL OILWELL VARCO INC 3.8 %
CIMAREX ENERGY CO 3.7 %
HOLLYFRONTIER CORP 3.6 %
PIONEER NATURAL RESOURCES CO 3.6 %
Total 38.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.0 %
BRITAIN 2.7 %









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.
2.9% -12.3% -7.1% 0.5% 0.2%

Market Correlations
versus... Beta R-squared
S&P500 1.46 52%
MSCI EAFE 1.57 51%
MSCI Emg. Mkts. 0.93 28%

Technical Indicators
Recent close $44.40
30d moving avg. $44.20
Annualized volatility 24.3%
Short interest (ETF) 0.0%
Short interest (Underlying) 7.6%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 20
Turnover 0.7%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $6,698

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: RYE Expense: 40 bp ALTAR Score™: 3.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RYE
Ticker Fund
Name
Overlap1
vs RYE
(%)
Expense
ratio
(bp)
Savings
vs RYE
(bp)
ALTAR
Score™
(%)
ALTAR
vs RYE
(%)
JHME John Hancock Multifactor Energy 79.3 40 0 3.3 -0.1
XLEY Cushing Energy & MLP 66.4 65 -25 3.5 +0.1
FXN First Trust Energy Alphadex 62.0 63 -23 4.2 +0.8
XLE Energy Select Sector SPDR 59.4 13 27 4.3 +0.9
FTXN First Trust Nasdaq Oil & Gas 55.7 60 -20 2.6 -0.8
IYE iShares DJ US Energy Sector 54.4 42 -2 3.9 +0.5
FENY Fidelity MSCI Energy 53.3 8 32 3.9 +0.5
VDE Vanguard Energy ETF 53.3 10 30 3.9 +0.5
IEO iShares U.S. Oil & Gas Exploration & Production 48.1 42 -2 3.2 -0.2
XOP SPDR S&P Oil & Gas Exploration 45.9 35 5 3.5 +0.0
IGE iShares North American Natural Resources 44.6 46 -6 3.9 +0.5
PXI Invesco Dynamic Energy Sector 43.0 60 -20 -0.8 -4.2
FRAK VanEck Vectors Unconventional Oil & Gas 42.4 54 -14 2.2 -1.3
XLSY Cushing Energy Supply Chain & MLP 37.1 65 -25 5.4 +2.0
IXC iShares S&P Global Energy Sector 34.6 46 -6 5.1 +1.7
PXE Invesco Dynamic Energy Exploration & Production 26.0 63 -23 1.2 -2.2
FILL iShares MSCI Global Energy Producers 23.8 39 1 5.6 +2.2
NANR SPDR S&P N. American Nat. Resources 23.7 35 5 4.0 +0.6
IEZ iShares U.S. Oil Equipment & Services 21.4 42 -2 1.3 -2.1
OIH VanEck Vectors Oil Service 21.4 35 5 0.9 -2.5

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 Equal Weight Energy 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 4.4 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 3.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.43 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.