Invesco S&P 500 High Dividend Low Volatility ETF
ALTAR
Score™
9.7% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
13.8x P/Sales
ratio
1.6x
P/BV
ratio
1.7x Div.
yield
5.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P 500 High Dividend Portfolio is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that generally correspond (before fees and expenses) to the price and yield of the S&P 500 Low Volatility High Dividend Index (the "Underlying Index").

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Oct 18, 2012
Assets (mns) $2,496
Currency USD
Expense ratio 30 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Dividend
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 50
Wgt avg mkt cap (mns) $54,239
Large cap (>$10bn) 78.7%
Mid cap ($2-10bn) 21.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
IRON MOUNTAIN INC 3.4 %
WILLIAMS COS INC 3.4 %
ALTRIA GROUP INC 3.1 %
PHILIP MORRIS INTERNATIONAL 2.9 %
PROGRESSIVE CORP 2.8 %
GILEAD SCIENCES INC 2.7 %
GENERAL MILLS INC 2.7 %
INTL BUSINESS MACHINES CORP 2.6 %
DOMINION RESOURCES INC/VA 2.6 %
WEYERHAEUSER CO 2.5 %
Total 28.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.1 %
BRITAIN 2.0 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-21.2% -15.9% 4.7% -- 8.0%

Market Correlations
versus... Beta R-squared
S&P500 0.96 79%
MSCI EAFE 1.03 76%
MSCI Emg. Mkts. 0.72 62%

Technical Indicators
Recent close $34.01
30d moving avg. $33.24
Annualized volatility 18.6%
Short interest (ETF) 0.7%
Short interest (Underlying) 4.2%
Relative strength (RSI) 58

Liquidity measures
Avg. volume (thou.) 1,010
Turnover 1.4%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $14,776

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco S&P 500 High Dividend Low Volatility ETF ETF based on the alternatives' overlap in portfolio holdings with SPHD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPHD Expense: 30 bp ALTAR Score™: 9.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPHD
Ticker Fund
Name
Overlap1
vs SPHD
(%)
Expense
ratio
(bp)
Savings
vs SPHD
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPHD
(%)
SPYD SPDR S&P 500 High Dividend ETF 58.3 7 23 10.5 +0.8
SDOG ALPS Sector Dividend Dogs ETF 46.0 40 -10 10.1 +0.5
PEY Invesco High Yield Equity Dividend Achievers ETF 44.4 53 -23 9.7 +0.1
DTN WisdomTree U.S. Dividend ex-Financials Fund 40.7 38 -8 7.7 -1.9
DHS WisdomTree U.S. High Dividend Fund 38.3 38 -8 8.5 -1.2
SPDV AAM S&P 500 High Dividend Value ETF 36.8 29 1 10.6 +1.0
DVY iShares Select Dividend ETF 33.9 39 -9 9.4 -0.2
LVHD Legg Mason Low Volatility High Dividend ETF 32.7 27 3 8.7 -0.9
FDL First Trust Morningstar Dividend Leaders Index Fund 30.8 45 -15 10.0 +0.4
DIV Global X SuperDividend US ETF 28.4 46 -16 6.7 -2.9
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 28.3 35 -5 8.4 -1.2
DEW WisdomTree Global High Dividend Fund 27.4 58 -28 9.2 -0.4
DURA VanEck Vectors Morningstar Durable Dividend ETF 26.5 29 1 7.0 -2.7
JKF iShares Morningstar Large Cap Value ETF 26.5 25 5 7.5 -2.1
HDV iShares Core High Dividend ETF 26.3 8 22 6.7 -3.0
RDIV Invesco S&P Ultra Dividend Revenue ETF 25.8 39 -9 11.0 +1.3
GBDV Global Beta Smart Income ETF 25.1 29 1 8.5 -1.1
PWV Invesco Dynamic Large Cap Value ETF 24.8 55 -25 8.7 -0.9
SCHD Schwab U.S. Dividend Equity ETF 24.3 6 24 7.9 -1.7
DLN WisdomTree U.S. LargeCap Dividend Fund 23.1 28 2 6.3 -3.4
OUSA O'Shares FTSE US Quality Dividend ETF 22.6 48 -18 5.5 -4.1
VYM Vanguard High Dividend Yield Index ETF 22.3 6 24 7.3 -2.3
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 21.9 35 -5 8.4 -1.2
FDVV Fidelity Core Dividend ETF 21.6 29 1 7.0 -2.6
DTD WisdomTree U.S.Total Dividend Fund 21.5 28 2 6.5 -3.2
MGV Vanguard Mega Cap Value ETF 20.9 7 23 7.2 -2.5
SPYV SPDR Portfolio S&P 500 Value ETF 20.7 4 26 7.3 -2.4
IVE iShares S&P 500 Value ETF 20.7 18 12 7.1 -2.5
VOOV Vanguard S&P 500 Value ETF 20.6 15 15 7.1 -2.5
USDY Pacific Global US Equity Income ETF 20.0 29 1 7.1 -2.5
EWRE Invesco S&P 500 Equal Weight Real Estate ETF 19.6 40 -10 6.9 -2.7
SCHV Schwab U.S. Large-Cap Value ETF 19.5 4 26 7.1 -2.6
IUSV iShares Core S&P U.S. Value ETF 19.4 4 26 7.3 -2.3
FDRR Fidelity Dividend ETF for Rising Rates 18.9 29 1 6.8 -2.8
VTV Vanguard Value Index Fund 18.7 4 26 7.3 -2.4
IWX iShares Russell Top 200 Value ETF 18.7 20 10 6.7 -3.0
BVAL Brand Value ETF 18.5 65 -35 5.5 -4.1
GCOW Pacer Global High Dividend ETF 18.4 60 -30 10.4 +0.7
WBIY WBI Power Factor High Dividend ETF 17.9 70 -40 10.9 +1.3
RNDV US Equity Dividend Select ETF 17.8 50 -20 8.0 -1.7
FTA First Trust Large Cap Value AlphaDEX Fund 17.4 60 -30 9.2 -0.5
JDIV JPMorgan U.S. Dividend ETF 17.3 12 18 7.7 -2.0
QDEF FlexShares Quality Dividend Defensive Index Fund 17.0 37 -7 5.7 -4.0
VLUE iShares Edge MSCI USA Value Factor ETF 16.8 15 15 11.4 +1.8
PFM Invesco Dividend Achievers ETF 16.7 54 -24 5.3 -4.4
PRF Invesco FTSE RAFI US 1000 ETF 16.4 39 -9 6.6 -3.1
NULV Nuveen ESG Large-Cap Value ETF 16.3 35 -5 7.2 -2.5
EQWL Invesco Russell Top 200 Equal Weight ETF 16.3 25 5 6.0 -3.7
JKI iShares Morningstar Mid-Cap Value ETF 15.9 30 0 8.9 -0.8
VETS Pacer Military Times Best Employers ETF 15.7 60 -30 6.8 -2.8
RFDA RiverFront Dynamic US Dividend Advantage ETF 15.4 52 -22 4.8 -4.8
SPMV Invesco S&P 500 Minimum Variance ETF 15.3 10 20 5.6 -4.0
FNDX Schwab Fundamental U.S. Large Co. Index ETF 15.3 25 5 6.2 -3.4
RYU Invesco S&P 500 Equal Weight Utilities ETF 15.3 40 -10 6.1 -3.6
JHMU John Hancock Multifactor Utilities ETF 15.2 40 -10 6.0 -3.7
FVAL Fidelity Value Factor ETF 15.1 29 1 7.7 -1.9
VONV Vanguard Russell 1000 Value Index Fund 15.0 8 22 6.9 -2.8
ESGS Columbia Sustainable U.S. Equity Income ETF 15.0 35 -5 8.3 -1.3
IWD iShares Russell 1000 Value ETF 15.0 19 11 6.8 -2.8
RAFE PIMCO RAFI ESG U.S. ETF 14.8 29 1 7.5 -2.1
XLRE The Real Estate Select Sector SPDR Fund 14.8 13 17 5.6 -4.1
VALQ American Century STOXX U.S. Quality Value ETF 14.7 29 1 8.8 -0.8
SDY SPDR S&P Dividend ETF 14.7 35 -5 6.9 -2.8
LSLT Salt Low truBeta US Market ETF 14.6 29 1 5.9 -3.8
QDF FlexShares Quality Dividend Index Fund 14.6 37 -7 6.0 -3.7
FLV American Century Focused Large Cap Value ETF 14.3 42 -12 6.4 -3.3
FNDB Schwab Fundamental U.S. Broad Market Index ETF 14.2 25 5 6.2 -3.4
FMK First Trust Mega Cap AlphaDEX Fund 14.1 70 -40 4.7 -5.0
XLU Utilities Select Sector SPDR Fund 14.0 13 17 5.7 -4.0
RHS Invesco S&P 500 Equal Weight Consumer Staples ETF 14.0 40 -10 6.1 -3.5
VLU SPDR S&P 1500 Value Tilt ETF 13.9 12 18 7.2 -2.4
IDU iShares U.S. Utilities ETF 13.8 43 -13 5.4 -4.3
SPLV Invesco S&P 500 Low Volatility ETF 13.7 25 5 5.5 -4.2
GII SPDR S&P Global Infrastructure ETF 13.7 40 -10 5.5 -4.2
IGF iShares Global Infrastructure ETF 13.7 46 -16 5.4 -4.2
FUTY Fidelity MSCI Utilities Index ETF 13.7 8 22 5.7 -4.0
VPU Vanguard Utilities Index Fund 13.7 10 20 5.6 -4.0
MOAT VanEck Vectors Morningstar Wide Moat ETF 13.4 49 -19 6.3 -3.4
ONEY SPDR Russell 1000 Yield Focus ETF 13.3 20 10 9.0 -0.6
RPV Invesco S&P 500 Pure Value ETF 13.3 35 -5 10.9 +1.2
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 13.1 15 15 6.7 -3.0
FLQL Franklin LibertyQ U.S. Equity ETF 13.1 15 15 6.0 -3.7
MAGA Point Bridge GOP Stock Tracker ETF 12.9 72 -42 6.3 -3.4
JVAL JPMorgan U.S. Value Factor ETF 12.9 12 18 8.5 -1.2
JHMS John Hancock Multifactor Consumer Staples ETF 12.9 40 -10 5.7 -4.0
COWZ Pacer US Cash Cows 100 ETF 12.8 49 -19 10.4 +0.7
DIVB iShares U.S. Dividend & Buyback ETF 12.8 25 5 6.4 -3.3
IUS Invesco Strategic US ETF 12.6 19 11 6.3 -3.4
EPS WisdomTree U.S. Earnings 500 Fund 12.6 8 22 6.3 -3.4
RWL Invesco S&P 500 Revenue ETF 12.6 39 -9 7.0 -2.7
JXI iShares Global Utilities ETF 12.5 46 -16 5.8 -3.8
YLDE ClearBridge Dividend Strategy ESG ETF 12.5 60 -30 4.8 -4.9
REVS Columbia Research Enhanced Value ETF 12.4 19 11 7.3 -2.4
FXU First Trust Utilities AlphaDEX Fund 12.4 63 -33 5.9 -3.7
JMIN JPMorgan U.S. Minimum Volatility ETF 12.4 12 18 5.4 -4.3
SCHH Schwab U.S. REIT ETF 12.4 7 23 6.6 -3.0
PY Principal Shareholder Yield Index ETF 12.4 29 1 9.0 -0.7
PSR Invesco Active U.S. Real Estate Fund 12.3 35 -5 6.1 -3.6
DJD Invesco Dow Jones Industrial Average Dividend ETF 12.3 7 23 6.8 -2.9
EDOW First Trust Dow 30 Equal Weight ETF 12.3 50 -20 5.8 -3.8

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 500 High Dividend Low Volatility ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.9 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 9.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.72 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.