Invesco S&P 500 High Dividend Low Volatility ETF
ALTAR
Score™
11.9% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
9.6x P/Sales
ratio
1.3x
P/BV
ratio
1.4x Div.
yield
7.1%


  • 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) $2,336
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 51
Wgt avg mkt cap (mns) $50,347
Large cap (>$10bn) 71.6%
Mid cap ($2-10bn) 28.4%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ALTRIA GROUP INC 3.3 %
IRON MOUNTAIN INC 3.3 %
PHILIP MORRIS INTERNATIONAL 3.1 %
GILEAD SCIENCES INC 3.1 %
WILLIAMS COS INC 2.8 %
AT&T INC 2.7 %
DOMINION RESOURCES INC/VA 2.6 %
INTL BUSINESS MACHINES CORP 2.6 %
PROGRESSIVE CORP 2.5 %
GENERAL MILLS INC 2.4 %
Total 28.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.0 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-31.0% -26.0% 2.1% -- 6.5%

Market Correlations
versus... Beta R-squared
S&P500 1.01 78%
MSCI EAFE 1.00 74%
MSCI Emg. Mkts. 0.75 61%

Technical Indicators
Recent close $28.72
30d moving avg. $34.28
Annualized volatility 17.4%
Short interest (ETF) 0.7%
Short interest (Underlying) 4.2%
Relative strength (RSI) 34

Liquidity measures
Avg. volume (thou.) 2,916
Turnover 3.6%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $24,614

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™: 11.9%


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 53.7 7 23 14.3 +2.5
SDOG ALPS Sector Dividend Dogs ETF 45.3 40 -10 13.9 +2.0
DTN WisdomTree U.S. Dividend ex-Financials Fund 44.0 38 -8 10.2 -1.7
PEY Invesco High Yield Equity Dividend Achievers ETF 42.0 53 -23 9.8 -2.1
DHS WisdomTree U.S. High Dividend Fund 40.5 38 -8 10.5 -1.4
SPDV AAM S&P 500 High Dividend Value ETF 37.4 29 1 14.5 +2.6
FDL First Trust Morningstar Dividend Leaders Index Fund 34.3 45 -15 10.9 -1.0
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 33.4 35 -5 11.3 -0.6
DVY iShares Select Dividend ETF 30.1 39 -9 10.9 -1.0
DIV Global X SuperDividend US ETF 29.8 45 -15 15.1 +3.2
RDIV Invesco S&P Ultra Dividend Revenue ETF 29.6 39 -9 15.1 +3.2
JKF iShares Morningstar Large Cap Value ETF 29.3 25 5 9.5 -2.4
LVHD Legg Mason Low Volatility High Dividend ETF 28.9 27 3 8.6 -3.3
RNDV US Equity Dividend Select ETF 28.4 50 -20 10.5 -1.4
DEW WisdomTree Global High Dividend Fund 27.9 58 -28 11.4 -0.5
DURA VanEck Vectors Morningstar Durable Dividend ETF 27.5 29 1 8.4 -3.5
GBDV Global Beta Smart Income ETF 27.3 29 1 16.2 +4.3
DVOP Source Dividend Opportunity ETF 27.2 50 -20 11.2 -0.7
DLN WisdomTree U.S. LargeCap Dividend Fund 24.8 28 2 8.0 -3.9
VYM Vanguard High Dividend Yield Index ETF 24.2 6 24 8.9 -3.0
OUSA O'Shares FTSE US Quality Dividend ETF 24.1 48 -18 7.0 -4.9
DTD WisdomTree U.S.Total Dividend Fund 23.1 28 2 8.5 -3.4
FDVV Fidelity Core Dividend ETF 22.9 29 1 9.7 -2.2
USDY Pacific Global US Equity Income ETF 22.6 29 1 10.5 -1.4
SPYV SPDR Portfolio S&P 500 Value ETF 21.8 4 26 9.2 -2.7
IVE iShares S&P 500 Value ETF 21.7 18 12 9.1 -2.8
QDEF FlexShares Quality Dividend Defensive Index Fund 21.6 37 -7 7.9 -4.0
VOOV Vanguard S&P 500 Value ETF 21.3 15 15 9.2 -2.7
MGV Vanguard Mega Cap Value ETF 21.1 7 23 8.8 -3.1
GCOW Pacer Global High Dividend ETF 21.0 60 -30 13.3 +1.4
VALQ American Century STOXX U.S. Quality Value ETF 20.8 29 1 11.5 -0.4
WBIY WBI Power Factor High Dividend ETF 20.7 70 -40 21.5 +9.6
IWX iShares Russell Top 200 Value ETF 20.7 20 10 8.7 -3.2
SCHV Schwab U.S. Large-Cap Value ETF 20.6 4 26 9.0 -2.9
SCHD Schwab U.S. Dividend Equity ETF 20.6 6 24 9.2 -2.7
IUSV iShares Core S&P U.S. Value ETF 20.5 4 26 9.4 -2.5
FDRR Fidelity Dividend ETF for Rising Rates 20.5 29 1 9.6 -2.3
HDV iShares Core High Dividend ETF 20.1 8 22 8.1 -3.8
QDIV Global X S&P 500 Quality Dividend ETF 19.9 20 10 10.8 -1.1
VTV Vanguard Value Index Fund 19.9 4 26 9.1 -2.8
JDIV JPMorgan U.S. Dividend ETF 19.8 12 18 10.7 -1.2
BVAL Brand Value ETF 19.3 65 -35 8.9 -3.0
ESGS Columbia Sustainable U.S. Equity Income ETF 19.3 35 -5 12.1 +0.2
LSLT Salt Low truBeta US Market ETF 19.1 0 30 8.5 -3.4
QDF FlexShares Quality Dividend Index Fund 18.8 37 -7 8.8 -3.1
EWRE Invesco S&P 500 Equal Weight Real Estate ETF 18.8 40 -10 7.9 -4.0
PFM Invesco Dividend Achievers ETF 18.4 54 -24 6.4 -5.5
IWD iShares Russell 1000 Value ETF 18.1 19 11 9.1 -2.8
PRF Invesco FTSE RAFI US 1000 ETF 18.0 39 -9 9.2 -2.7
VONV Vanguard Russell 1000 Value Index Fund 18.0 8 22 9.3 -2.6
FTA First Trust Large Cap Value AlphaDEX Fund 17.9 60 -30 12.1 +0.2
VLUE iShares Edge MSCI USA Value Factor ETF 17.6 15 15 14.4 +2.6
FVAL Fidelity Value Factor ETF 17.5 29 1 11.0 -0.9
FMK First Trust Mega Cap AlphaDEX Fund 17.0 70 -40 7.0 -4.9
FXU First Trust Utilities AlphaDEX Fund 16.9 63 -33 6.5 -5.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 16.6 25 5 8.3 -3.6
RAFE PIMCO RAFI ESG U.S. ETF 16.6 29 1 10.3 -1.6
EQWL Invesco Russell Top 200 Equal Weight ETF 16.3 25 5 7.5 -4.4
RYU Invesco S&P 500 Equal Weight Utilities ETF 16.0 40 -10 6.5 -5.4
VETS Pacer Military Times Best Employers ETF 15.9 60 -30 8.5 -3.4
JHMU John Hancock Multifactor Utilities ETF 15.8 40 -10 6.6 -5.3
JVAL JPMorgan U.S. Value Factor ETF 15.7 12 18 11.9 +0.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 15.5 25 5 8.4 -3.5
PWV Invesco Dynamic Large Cap Value ETF 15.3 55 -25 10.6 -1.3
FLQL Franklin LibertyQ U.S. Equity ETF 15.1 15 15 8.0 -3.9
QDYN FlexShares Quality Dividend Dynamic Index Fund 15.0 37 -7 9.1 -2.8
NULV Nuveen ESG Large-Cap Value ETF 15.0 35 -5 9.3 -2.6
MOAT VanEck Vectors Morningstar Wide Moat ETF 14.9 49 -19 8.1 -3.8
VLU SPDR S&P 1500 Value Tilt ETF 14.7 12 18 9.6 -2.3
MXDU Nationwide Maximum Diversification US Core Equity ETF 14.7 34 -4 6.8 -5.1
XLU Utilities Select Sector SPDR Fund 14.7 13 17 6.3 -5.6
RFDA RiverFront Dynamic US Dividend Advantage ETF 14.7 52 -22 7.9 -4.0
SPMV Invesco S&P 500 Minimum Variance ETF 14.6 10 20 7.3 -4.6
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 14.6 15 15 8.9 -3.0
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 14.5 35 -5 7.9 -4.0
IDU iShares U.S. Utilities ETF 14.4 43 -13 6.1 -5.8
FUTY Fidelity MSCI Utilities Index ETF 14.3 8 22 6.3 -5.6
REVS Columbia Research Enhanced Value ETF 14.2 19 11 9.9 -2.0
EPS WisdomTree U.S. Earnings 500 Fund 14.2 8 22 8.5 -3.4
XLRE The Real Estate Select Sector SPDR Fund 14.1 13 17 6.8 -5.1
RHS Invesco S&P 500 Equal Weight Consumer Staples ETF 14.1 40 -10 6.9 -5.0
GII SPDR S&P Global Infrastructure ETF 14.1 40 -10 6.7 -5.2
IGF iShares Global Infrastructure ETF 14.0 46 -16 6.7 -5.2
RPV Invesco S&P 500 Pure Value ETF 13.9 35 -5 17.6 +5.8
DIVB iShares U.S. Dividend & Buyback ETF 13.7 25 5 8.8 -3.1
JHMS John Hancock Multifactor Consumer Staples ETF 13.6 40 -10 6.8 -5.1
SDY SPDR S&P Dividend ETF 13.5 35 -5 8.2 -3.7
HUSV First Trust Horizon Managed Volatility Domestic ETF 13.5 70 -40 6.6 -5.3
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 13.5 25 5 7.7 -4.2
USMV iShares Edge MSCI Min Vol USA ETF 13.3 15 15 6.8 -5.1
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 13.3 12 18 6.3 -5.6
JXI iShares Global Utilities ETF 13.2 46 -16 6.6 -5.3
SPXT ProShares S&P 500 Ex-Technology ETF 13.1 27 3 7.3 -4.6
SPLV Invesco S&P 500 Low Volatility ETF 13.1 25 5 6.7 -5.2
PSR Invesco Active U.S. Real Estate Fund 13.0 35 -5 7.6 -4.3
DGRW WisdomTree U.S. Quality Dividend Growth Fund 12.9 28 2 8.2 -3.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 12.9 29 1 8.2 -3.7
YLDE ClearBridge Dividend Strategy ESG ETF 12.6 60 -30 6.2 -5.7
JKI iShares Morningstar Mid-Cap Value ETF 12.6 30 0 13.5 +1.6
RWL Invesco S&P 500 Revenue ETF 12.5 39 -9 9.2 -2.7

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 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 16.2 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 11.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.72 CATEGORY
AVERAGE
1.51
 
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.