Invesco S&P Equal Weight Financials
ALTAR
Score™
7.4% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
12.6x P/Sales
ratio
2.3x
P/BV
ratio
1.6x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Equal Weight Financial 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 Financial Index.

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Nov 07, 2006
Assets (mns) $266
Currency USD
Expense ratio 40 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 67
Wgt avg mkt cap (mns) $60,595
Large cap (>$10bn) 92.8%
Mid cap ($2-10bn) 7.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
STATE STREET CORP 1.7 %
MARKETAXESS HOLDINGS INC 1.7 %
FIRST REPUBLIC BANK/CA 1.6 %
MSCI INC-A 1.6 %
ZIONS BANCORPORATION 1.6 %
CBOE HOLDINGS INC 1.6 %
WELLS FARGO & CO 1.6 %
SCHWAB (CHARLES) CORP 1.6 %
BANK OF AMERICA CORP 1.6 %
PNC FINANCIAL SERVICES GROUP 1.6 %
Total 16.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.1 %
BRITAIN 3.0 %
BERMUDA 1.5 %
SWITZERLAND 1.4 %







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.
29.7% 14.4% 10.4% 13.5% 4.2%

Market Correlations
versus... Beta R-squared
S&P500 1.13 73%
MSCI EAFE 1.05 53%
MSCI Emg. Mkts. 0.73 40%

Technical Indicators
Recent close $45.93
30d moving avg. $45.42
Annualized volatility 15.9%
Short interest (ETF) 0.4%
Short interest (Underlying) 2.6%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 19
Turnover 0.3%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $15,342

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: RYF Expense: 40 bp ALTAR Score™: 7.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RYF
Ticker Fund
Name
Overlap1
vs RYF
(%)
Expense
ratio
(bp)
Savings
vs RYF
(bp)
ALTAR
Score™
(%)
ALTAR
vs RYF
(%)
XLF Financials Select Sector SPDR 57.9 13 27 7.0 -0.4
JHMF John Hancock Multifactor Financials 56.6 40 0 6.6 -0.8
FNCL Fidelity MSCI Financials 51.7 8 32 7.3 -0.1
VFH Vanguard Financials 51.7 10 30 7.3 -0.1
RWW Invesco S&P Financials Revenue 51.3 45 -5 7.3 -0.1
IEFN iShares Evolved U.S. Financials 50.5 18 22 7.3 -0.1
IYF iShares DJ US Financials 40.7 42 -2 6.1 -1.3
IYG iShares DJ US Financial Services 40.1 42 -2 6.4 -1.0
IXG iShares S&P Global Financial Sector 35.0 46 -6 8.3 +0.8
KBWB Invesco KBW Bank Portfolio 33.8 35 5 7.6 +0.2
KCE SPDR KBW Capital Markets 33.3 35 5 8.0 +0.6
RPV Invesco S&P 500 Pure Value ETF 32.2 35 5 9.8 +2.4
KBE KBW Bank ETF 32.0 35 5 8.2 +0.8
FXO First Trust Financial Alphadex 32.0 63 -23 7.9 +0.5
CLRG IQ Chaikin U.S. Large Cap 31.5 25 15 8.1 +0.7
KIE SPDR S&P Insurance 30.4 35 5 7.2 -0.3
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility 29.9 25 15 5.9 -1.5
FTXO First Trust Nasdaq Bank 27.4 60 -20 7.7 +0.3
PXLV Invesco Fundamental Pure Large Value 26.5 39 1 8.4 +1.0
SPVU Invesco S&P 500 Value 26.1 13 27 11.0 +3.6

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

  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 Financials
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 11.3 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 7.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.67 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.