Invesco S&P Smallcap 600 Pure Growth ETF
ALTAR
Score™
6.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
26.5x P/Sales
ratio
1.1x
P/BV
ratio
2.1x Div.
yield
1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P Smallcap 600 Pure Growth ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate as closely as possible, before expenses, the performance of the S&P Smallcap 600/Citigroup Pure Growth Index.

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date Mar 01, 2006
Assets (mns) $108
Currency USD
Expense ratio 35 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 141
Wgt avg mkt cap (mns) $1,828
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 42.7%
Small cap (<$2bn) 57.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
KINSALE CAPITAL GROUP, INC. 2.4 %
LGI HOMES INC 2.1 %
INNOVATIVE INDUSTRIAL PROPERTIES I 1.9 %
SAFEHOLD, INC. 1.9 %
WINNEBAGO INDUSTRIES 1.7 %
WINGSTOP, INC. 1.7 %
ZYNEX, INC. 1.7 %
BROOKS AUTOMATION INC 1.5 %
SIMULATIONS PLUS INC 1.5 %
INSTALLED BUILDING PRODUCTS 1.4 %
Total 17.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.5 %
CAYMAN ISLANDS 0.6 %
PUERTO RICO 0.4 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-14.7% -8.9% 2.9% 11.0% 7.1%

Market Correlations
versus... Beta R-squared
S&P500 1.42 85%
MSCI EAFE 1.41 73%
MSCI Emg. Mkts. 1.02 59%

Technical Indicators
Recent close $98.32
30d moving avg. $99.84
Annualized volatility 26.2%
Short interest (ETF) 0.0%
Short interest (Underlying) 7.4%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.5%
Bid/Ask (% of price) 0.56%
ADV underlying (mns) $3,061

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco S&P Smallcap 600 Pure Growth ETF ETF based on the alternatives' overlap in portfolio holdings with RZG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RZG Expense: 35 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RZG
Ticker Fund
Name
Overlap1
vs RZG
(%)
Expense
ratio
(bp)
Savings
vs RZG
(bp)
ALTAR
Score™
(%)
ALTAR
vs RZG
(%)
SLYG SPDR S&P 600 Small Cap Growth ETF 53.7 15 20 5.4 -0.7
IJT iShares S&P Small-Cap 600 Growth ETF 53.6 25 10 5.3 -0.9
VIOG Vanguard S&P Small-Cap 600 Growth ETF 52.0 16 19 5.3 -0.8
PXSG Invesco S&P SmallCap Momentum ETF 41.6 39 -4 5.1 -1.0
SPSM SPDR Portfolio Small Cap ETF 32.2 5 30 7.3 +1.2
SLY SPDR S&P 600 Small Cap ETF 32.1 15 20 7.2 +1.1
IJR iShares Core S&P Small Cap ETF 32.1 7 28 7.3 +1.2
VIOO Vanguard S&P Small-Cap 600 ETF 30.8 10 25 7.4 +1.3
FYC First Trust Small Cap Growth AlphaDEX Fund 26.5 70 -35 2.6 -3.6
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 24.7 40 -5 7.0 +0.9
SSLY Syntax Stratified SmallCap ETF 21.5 30 5 6.3 +0.2
PSCT Invesco S&P SmallCap Information Technology ETF 20.9 29 6 5.7 -0.4
XSHQ Invesco S&P SmallCap Quality ETF 20.6 29 6 6.8 +0.7
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 19.3 29 6 9.8 +3.7
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 18.4 29 6 5.8 -0.4
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 18.1 35 0 8.5 +2.4
TPSC Timothy Plan US Small Cap Core ETF 18.0 52 -17 8.5 +2.4
RWJ Invesco S&P SmallCap 600 Revenue ETF 17.7 39 -4 8.0 +1.9
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 17.6 35 0 6.5 +0.4
IWO iShares Russell 2000 Growth ETF 17.4 24 11 0.8 -5.3
JSML Janus Henderson Small Cap Growth Alpha ETF 16.7 30 5 7.9 +1.7
AFSM First Trust Active Factor Small Cap ETF 16.6 75 -40 5.8 -0.3
PSC Principal U.S. Small Cap Index ETF 15.6 38 -3 7.2 +1.1
PSCI Invesco S&P SmallCap Industrials ETF 15.4 29 6 6.7 +0.6
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 15.3 29 6 1.8 -4.3
FYX First Trust Small Cap Core AlphaDEX Fund 15.2 63 -28 6.8 +0.7
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 15.2 24 11 7.4 +1.3
ISMD Inspire Small/Mid Cap Impact ETF 15.1 60 -25 6.7 +0.6
ROGS Hartford Multifactor Global Small Cap ETF 14.9 34 1 8.2 +2.0
VTWG Vanguard Russell 2000 Growth Index Fund 14.9 15 20 0.8 -5.3
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 14.0 35 0 8.5 +2.3
XSLV Invesco S&P SmallCap Low Volatility ETF 13.6 25 10 6.2 +0.0
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 13.4 20 15 6.2 +0.1
PSCF Invesco S&P SmallCap Financials ETF 13.2 29 6 11.8 +5.7
PSCH Invesco S&P SmallCap Health Care ETF 12.8 29 6 3.1 -3.1
DWAS Invesco DWA SmallCap Momentum ETF 12.6 60 -25 -1.1 -7.2
JKK iShares Morningstar Small-Cap Growth ETF 12.4 30 5 1.2 -5.0
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 12.4 30 5 8.0 +1.9
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 12.2 38 -3 9.3 +3.1
IWM iShares Russell 2000 ETF 11.9 19 16 3.7 -2.4
CSML IQ Chaikin U.S. Small Cap ETF 11.9 35 0 4.3 -1.8
VAMO Cambria Value & Momentum ETF 11.5 64 -29 7.8 +1.7
CALF Pacer US Small Cap Cash Cows 100 ETF 11.3 59 -24 13.6 +7.5
RNSC Small Cap US Equity Select ETF 11.2 60 -25 8.0 +1.8
VTWO Vanguard Russell 2000 Index Fund 11.0 10 25 3.8 -2.3
EES WisdomTree SmallCap Earnings Fund 10.7 38 -3 12.0 +5.9
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 9.6 80 -45 5.8 -0.4
XSVM Invesco S&P SmallCap Value with Momentum ETF 9.4 39 -4 12.1 +6.0
SQLV Legg Mason Small-Cap Quality Value 9.4 62 -27 8.1 +2.0
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 9.1 12 23 8.1 +2.0
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 9.0 30 5 5.8 -0.3
FSMD Fidelity Small-Mid Factor ETF 8.8 29 6 7.2 +1.1
DES WisdomTree U.S. SmallCap Dividend Fund 8.8 38 -3 9.0 +2.9
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 8.8 39 -4 4.3 -1.8
AVUV Avantis U.S. Small Cap Value ETF 8.3 25 10 9.6 +3.5
XSW SPDR S&P Software & Services ETF 8.3 35 0 4.2 -2.0
BFOR Barron's 400 ETF 8.2 65 -30 6.4 +0.3
SCHA Schwab U.S. Small-Cap ETF 8.1 4 31 4.8 -1.3
BKSE BNY Mellon US Small Cap Core Equity ETF 7.9 4 31 5.8 -0.3
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 7.7 60 -25 8.7 +2.6
VFMF Vanguard U.S. Multifactor ETF 7.1 19 16 7.3 +1.2
FAD First Trust Multi Cap Growth AlphaDEX Fund 6.9 66 -31 2.6 -3.6
IUSS Invesco Strategic US Small Company ETF 6.8 23 12 5.6 -0.5
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 6.8 20 15 4.8 -1.3
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 6.8 17 18 5.3 -0.8
JHSC John Hancock Multifactor Small Cap ETF 6.7 42 -7 6.1 -0.1
NUSC Nuveen ESG Small-Cap ETF 6.7 40 -5 5.5 -0.6
PBSM Invesco PureBeta MSCI USA Small Cap ETF 6.5 6 29 5.5 -0.6
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 6.2 29 6 10.0 +3.9
JKJ iShares Morningstar Small-Cap ETF 6.1 25 10 6.9 +0.7
ITB iShares U.S. Home Construction ETF 6.0 42 -7 8.4 +2.3
FNDA Schwab Fundamental U.S. Small Co. Index ETF 5.8 25 10 6.9 +0.8
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 5.8 39 -4 8.0 +1.9
VTWV Vanguard Russell 2000 Value Index Fund 5.8 15 20 7.7 +1.5
VBK Vanguard Small-Cap Growth Index Fund 5.7 7 28 2.5 -3.6
IWN iShares Russell 2000 Value ETF 5.7 24 11 7.5 +1.4
DWMC AdvisorShares Dorsey Wright Micro-Cap ETF 5.6 125 -90 -3.4 -9.5
HTEC ROBO Global Healthcare Technology & Innovation ETF 5.6 68 -33 0.2 -6.0
VUSE Vident Core US Equity Fund 5.5 48 -13 8.5 +2.3
PKB Invesco Dynamic Building & Construction ETF 5.4 60 -25 6.8 +0.7
FNY First Trust Mid Cap Growth AlphaDEX Fund 5.2 70 -35 2.2 -4.0
ROOF IQ US Real Estate Small Cap ETF 5.1 70 -35 12.3 +6.2
PFI Invesco DWA Financial Momentum ETF 5.1 60 -25 3.7 -2.5
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 5.0 20 15 9.7 +3.6
VFQY Vanguard U.S. Quality Factor ETF 5.0 13 22 6.1 +0.0
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 4.9 30 5 11.3 +5.2
NETL NETLease Corporate Real Estate ETF 4.9 60 -25 8.5 +2.4
RNMC Mid Cap US Equity Select ETF 4.9 60 -25 8.0 +1.8
IWC iShares Micro-Cap ETF 4.7 60 -25 -4.0 -10.1
BUY USCF SummerHaven SHPEI Index Fund 4.6 80 -45 10.5 +4.4
NIFE Direxion Fallen Knives ETF 4.6 50 -15 2.4 -3.8
VFMO Vanguard U.S. Momentum Factor ETF 4.5 13 22 1.2 -5.0
VB Vanguard Small-Cap ETF 4.5 5 30 5.5 -0.6
OSCV Opus Small Cap Value Plus ETF 4.4 79 -44 5.7 -0.4
FYT First Trust Small Cap Value AlphaDEX Fund 4.4 72 -37 9.7 +3.6
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 4.3 35 0 9.7 +3.6
RYJ Invesco Raymond James SB-1 Equity ETF 4.3 82 -47 3.7 -2.5
PSCE Invesco S&P SmallCap Energy ETF 4.3 29 6 -2.4 -8.5
KOMP SPDR Kensho New Economies Composite ETF 4.2 20 15 2.6 -3.6
HOMZ Hoya Capital Housing ETF 4.1 45 -10 7.9 +1.8

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 Smallcap 600 Pure Growth ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.0 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 35 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.52
 
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.