Invesco S&P 500 High Dividend
ALTAR
Score™
7.5% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
14.3x P/Sales
ratio
1.3x
P/BV
ratio
2.1x Div.
yield
4.4%


  • 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) $3,836
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) $60,807
Large cap (>$10bn) 88.5%
Mid cap ($2-10bn) 11.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AT&T INC 3.0 %
IRON MOUNTAIN INC 3.0 %
ALTRIA GROUP INC 3.0 %
KIMCO REALTY CORP 2.9 %
PPL CORPORATION 2.8 %
WEYERHAEUSER CO 2.7 %
PHILIP MORRIS INTERNATIONAL 2.7 %
ONEOK INC 2.4 %
OCCIDENTAL PETROLEUM CORP 2.4 %
SOUTHERN CO 2.3 %
Total 27.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.7 %
BRITAIN 2.2 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
20.3% 20.3% 10.2% -- 12.4%

Market Correlations
versus... Beta R-squared
S&P500 0.77 70%
MSCI EAFE 0.71 49%
MSCI Emg. Mkts. 0.46 36%

Technical Indicators
Recent close $44.35
30d moving avg. $43.60
Annualized volatility 11.1%
Short interest (ETF) 0.8%
Short interest (Underlying) 4.2%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 461
Turnover 0.5%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $11,179

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P 500 High Dividend 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™: 7.5%


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 Portfolio S&P 500 High Dividend 54.6 7 23 8.8 +1.3
SPDV AAM S&P 500 High Dividend Value 46.3 29 1 10.3 +2.8
SDOG ALPS Sector Dividend Dogs 44.8 40 -10 9.6 +2.1
FDL First Trust Morningstar Dividend Leaders 39.7 45 -15 8.3 +0.8
DTN WisdomTree Dividend Ex-Financials 39.7 38 -8 7.8 +0.3
PEY Invesco High Yield Equity Dividend Acheivers 39.4 53 -23 6.3 -1.2
RDIV Invesco S&P Ultra Dividend Revenue ETF 36.9 39 -9 9.9 +2.5
DHS WisdomTree Equity Income 34.4 38 -8 7.6 +0.2
DVY iShares Select Dividend 33.1 39 -9 7.6 +0.2
CDL Victory CEMP US Large Cap High Div Volatility Wtd 33.0 35 -5 7.5 0.0
CDC Victory CEMP US EQ Income Enhanced Volatility Wtd 33.0 35 -5 7.5 0.0
LVHD Legg Mason Low Volatility High Dividend ETF 29.8 27 3 6.5 -1.0
WBIY WBI Power Factor High Dividend 29.6 70 -40 9.7 +2.2
FDVV Fidelity Core Dividend 28.2 29 1 6.9 -0.6
JKF iShares Morningstar Large Value 26.7 25 5 7.4 -0.1
OYLD Invesco Russell 1000 Yield Factor ETF 26.5 19 11 6.8 -0.7
ACIO Aptus Collared Income Opportunity 24.6 79 -49 6.8 -0.7
USDY Pacific Global US Equity Income 24.0 29 1 7.1 -0.4
DEW WisdomTree Global Equity Income 23.6 58 -28 8.0 +0.5
DLN WisdomTree Large Cap Dividend 23.5 28 2 6.3 -1.2

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

  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

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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 Dividend
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 15.2 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 7.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.68 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.