Invesco S&P 500 Equal Weight Technology ETF
ALTAR
Score™
6.5% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
19.2x P/Sales
ratio
3.1x
P/BV
ratio
4.1x Div.
yield
1.4%


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

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Nov 07, 2006
Assets (mns) $1,781
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 72
Wgt avg mkt cap (mns) $105,646
Large cap (>$10bn) 91.1%
Mid cap ($2-10bn) 8.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NVIDIA CORP 1.8 %
ADVANCED MICRO DEVICES 1.7 %
SAIC INC 1.7 %
SERVICENOW INC 1.7 %
WESTERN DIGITAL CORP 1.7 %
AKAMAI TECHNOLOGIES 1.6 %
SALESFORCE.COM INC 1.6 %
ADOBE SYSTEMS INC 1.6 %
JACK HENRY & ASSOCIATES INC 1.6 %
ARISTA NETWORKS, INC. 1.6 %
Total 16.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.1 %
IRELAND 2.6 %
SWITZERLAND 1.3 %








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.
0.2% 28.8% 19.4% 17.9% 11.9%

Market Correlations
versus... Beta R-squared
S&P500 1.24 86%
MSCI EAFE 1.15 61%
MSCI Emg. Mkts. 0.78 49%

Technical Indicators
Recent close $198.95
30d moving avg. $206.14
Annualized volatility 16.2%
Short interest (ETF) 1.6%
Short interest (Underlying) 4.0%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 45
Turnover 0.5%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $42,969

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: RYT Expense: 40 bp ALTAR Score™: 6.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RYT
Ticker Fund
Name
Overlap1
vs RYT
(%)
Expense
ratio
(bp)
Savings
vs RYT
(bp)
ALTAR
Score™
(%)
ALTAR
vs RYT
(%)
JHMT John Hancock Multifactor Technology ETF 52.6 40 0 6.0 -0.5
XLK Technology Select Sector SPDR Fund 46.2 13 27 5.3 -1.2
SPHB Invesco S&P 500 High Beta ETF 43.9 25 15 7.2 +0.7
VGT Vanguard Information Technology Index Fund 43.8 10 30 5.2 -1.3
FTEC Fidelity MSCI Information Technology Index ETF 43.3 8 32 5.2 -1.3
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 43.3 57 -17 5.5 -1.0
IXN iShares Global Tech ETF 41.6 46 -6 5.0 -1.5
FXL First Trust Technology AlphaDEX Fund 41.2 61 -21 4.5 -2.0
TDV ProShares S&P Technology Dividend Aristocrats ETF 39.5 45 -5 5.5 -1.0
IGM iShares North American Tech ETF 39.3 46 -6 4.4 -2.2
RPG Invesco S&P 500 Pure Growth ETF 36.1 35 5 5.3 -1.3
TECB iShares US Tech Breakthrough Multisector ETF 33.9 40 0 4.5 -2.0
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 33.7 60 -20 5.0 -1.5
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 33.6 35 5 5.2 -1.3
IETC iShares Evolved U.S. Technology ETF 33.3 18 22 4.5 -2.0
IYW iShares U.S. Technology ETF 32.3 42 -2 5.0 -1.6
QTUM Defiance Quantum ETF 29.7 40 0 5.8 -0.7
TDIV First Trust NASDAQ Technology Dividend Index Fund 29.3 50 -10 6.8 +0.3
XNTK SPDR Morgan Stanley Technology ETF 28.4 35 5 4.7 -1.8
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 26.4 60 -20 7.2 +0.7

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

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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 500 Equal Weight Technology 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 27.4 %
Divided by: Fwd. P/BV 4.0 x
Less: Expense ratio 40 bp
Equals: ALTAR Score 6.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 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.