Invesco S&P 500 High Beta ETF
ALTAR
Score™
7.2% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
15.8x P/Sales
ratio
1.7x
P/BV
ratio
2.2x Div.
yield
1.6%


  • 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) $158
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 98
Wgt avg mkt cap (mns) $89,338
Large cap (>$10bn) 80.2%
Mid cap ($2-10bn) 19.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ADVANCED MICRO DEVICES 2.4 %
NVIDIA CORP 1.9 %
MICRON TECHNOLOGY INC 1.6 %
WESTERN DIGITAL CORP 1.5 %
TWITTER INC 1.4 %
NETFLIX INC 1.4 %
AUTODESK INC 1.4 %
ALBEMARLE CORP 1.3 %
ADOBE SYSTEMS INC 1.3 %
L BRANDS, INC. 1.3 %
Total 15.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.4 %
IRELAND 2.7 %
BRITAIN 0.7 %








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.
-4.1% 13.8% 8.1% -- 9.2%

Market Correlations
versus... Beta R-squared
S&P500 1.45 87%
MSCI EAFE 1.40 67%
MSCI Emg. Mkts. 0.96 55%

Technical Indicators
Recent close $44.46
30d moving avg. $47.00
Annualized volatility 18.9%
Short interest (ETF) 5.9%
Short interest (Underlying) 6.2%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 136
Turnover 3.8%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $54,446

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P 500 High Beta ETF 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™: 7.2%


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 500 Equal Weight Technology ETF 43.9 40 -15 6.5 -0.7
SLT Salt TruBeta High Exposure ETF 42.2 29 -4 7.4 +0.1
JHMT John Hancock Multifactor Technology ETF 33.3 40 -15 6.0 -1.3
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 32.1 60 -35 5.0 -2.3
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 32.1 35 -10 5.2 -2.0
RPG Invesco S&P 500 Pure Growth ETF 31.5 35 -10 5.3 -2.0
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 29.5 57 -32 5.5 -1.7
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 27.9 60 -35 7.2 +0.0
SPYB SPDR S&P 500 Buyback ETF 26.0 35 -10 8.7 +1.5
FXL First Trust Technology AlphaDEX Fund 25.6 61 -36 4.5 -2.7
SPGP Invesco S&P 500 GARP ETF 24.8 35 -10 8.2 +1.0
XLK Technology Select Sector SPDR Fund 24.1 13 12 5.3 -1.9
IGM iShares North American Tech ETF 23.9 46 -21 4.4 -2.9
TECB iShares US Tech Breakthrough Multisector ETF 23.4 40 -15 4.5 -2.7
PEXL Pacer US Export Leaders ETF 23.4 60 -35 6.6 -0.6
VGT Vanguard Information Technology Index Fund 22.9 10 15 5.2 -2.0
FTEC Fidelity MSCI Information Technology Index ETF 22.7 8 17 5.2 -2.0
IXN iShares Global Tech ETF 21.9 46 -21 5.0 -2.2
RVRS Reverse Cap Weighted U.S. Large Cap ETF 21.9 29 -4 7.6 +0.4
QYLD Global X NASDAQ 100 Covered Call ETF 21.4 60 -35 4.6 -2.6

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

  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

Content on this tab for subscribers only

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 High Beta 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 16.1 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 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.