Invesco S&P 500 High Beta
ALTAR
Score™
6.3% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
18.3x P/Sales
ratio
2.0x
P/BV
ratio
2.8x Div.
yield
1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P 500 High Beta Portolio seeks investment results that correspond (before fees and expenses) generally to the price and yield of the S&P 500 High Beta Index.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date May 05, 2011
Assets (mns) $150
Currency USD
Expense ratio 25 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Beta
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 99
Wgt avg mkt cap (mns) $90,183
Large cap (>$10bn) 81.0%
Mid cap ($2-10bn) 19.1%
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 %
UNITED RENTALS INC 1.7 %
ALIGN TECHNOLOGY INC 1.6 %
QORVO INC 1.4 %
LAM RESEARCH CORP 1.4 %
MICRON TECHNOLOGY INC 1.4 %
APPLIED MATERIALS INC 1.4 %
KLA-TENCOR CORPORATION 1.3 %
NETAPP INC 1.3 %
Total 14.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.3 %
IRELAND 2.1 %
BRITAIN 0.7 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
21.1% 9.7% 6.0% -- 8.7%

Market Correlations
versus... Beta R-squared
S&P500 1.48 83%
MSCI EAFE 1.22 48%
MSCI Emg. Mkts. 0.81 35%

Technical Indicators
Recent close $44.19
30d moving avg. $42.36
Annualized volatility 19.6%
Short interest (ETF) 6.7%
Short interest (Underlying) 6.2%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 135
Turnover 4.0%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $46,732

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SPHB Expense: 25 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPHB
Ticker Fund
Name
Overlap1
vs SPHB
(%)
Expense
ratio
(bp)
Savings
vs SPHB
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPHB
(%)
RYT Invesco S&P Equal Weight Technology 44.6 40 -15 6.5 +0.2
SLT Salt TruBeta High Exposure 42.0 29 -4 6.4 +0.1
QQEW First Trust NASDAQ 100 Equal Weight 37.5 60 -35 6.0 -0.3
QQQE Direxion NASDAQ-100 Equal Weight 37.5 35 -10 6.3 0.0
JHMT John Hancock Multifactor Technology 32.8 40 -15 6.0 -0.3
RPG Invesco S&P 500 Pure Growth ETF 28.7 35 -10 4.4 -1.9
QTEC First Trust NASDAQ 100 Tech 28.5 57 -32 6.0 -0.2
PXLG Invesco Fundamental Pure Large Growth 28.3 35 -10 8.1 +1.9
FXL First Trust Technology Alphadex 27.6 63 -38 5.5 -0.7
IGM iShares S&P N. American Technology 26.4 46 -21 4.6 -1.7
XLK Technology Select Sector SPDR 25.3 13 12 5.5 -0.8
SPYB SPDR S&P 500 Buyback 24.7 35 -10 7.3 +1.1
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation 24.7 60 -35 6.6 +0.4
PEXL Pacer US Export Leaders 24.1 60 -35 6.1 -0.2
IETC iShares Evolved U.S. Technology 23.7 18 7 4.8 -1.5
FTEC Fidelity MSCI Info Technology 23.6 8 17 5.4 -0.9
VGT Vanguard Info Tech ETF 23.4 10 15 5.4 -0.9
VUG Vanguard Growth ETF 23.1 4 21 4.8 -1.4
QYLD Global X NASDAQ 100 Covered Call ETF 23.0 60 -35 4.9 -1.4
IXN iShares S&P Global Technology 22.7 46 -21 5.3 -1.0

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 500 High Beta
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 16.1 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 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.