Invesco S&P 500 Quality ETF
ALTAR
Score™
4.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
25.7x P/Sales
ratio
3.5x
P/BV
ratio
4.9x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P 500 High Quality Portfolio is an exchange-traded fund incorporated in the USA. It normally invests at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to provide exposure to the constituents of the S&P 500 Index that are identified as stocks reflecting long-term growth and stability of a company's earnings and dividends.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Dec 06, 2005
Assets (mns) $2,311
Currency USD
Expense ratio 15 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $346,893
Large cap (>$10bn) 98.8%
Mid cap ($2-10bn) 1.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 6.0 %
NVIDIA CORP 5.6 %
PROCTER & GAMBLE CO/THE 5.0 %
MICROSOFT CORP 4.8 %
VISA INC-CLASS A SHARES 4.6 %
JOHNSON & JOHNSON 4.5 %
MERCK & CO. INC. 3.0 %
CISCO SYSTEMS INC 3.0 %
ADOBE SYSTEMS INC 3.0 %
NIKE INC -CL B 3.0 %
Total 42.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.2 %
IRELAND 3.8 %
BRITAIN 2.4 %
SWITZERLAND 0.5 %







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.
2.9% 10.0% 11.6% 13.3% 7.5%

Market Correlations
versus... Beta R-squared
S&P500 0.93 96%
MSCI EAFE 0.94 81%
MSCI Emg. Mkts. 0.64 58%

Technical Indicators
Recent close $40.15
30d moving avg. $39.44
Annualized volatility 17.0%
Short interest (ETF) 0.2%
Short interest (Underlying) 3.6%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 447
Turnover 0.8%
Bid/Ask (% of price) 0.03%
ADV underlying (mns) $51,628

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SPHQ Expense: 15 bp ALTAR Score™: 4.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPHQ
Ticker Fund
Name
Overlap1
vs SPHQ
(%)
Expense
ratio
(bp)
Savings
vs SPHQ
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPHQ
(%)
HLAL Wahed FTSE USA Shariah ETF 41.4 50 -35 4.2 -0.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 40.4 49 -34 3.9 -0.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 40.0 19 -4 5.6 +1.2
QLC FlexShares US Quality Large Cap Index Fund 39.7 32 -17 4.9 +0.5
QUAL iShares MSCI Usa Quality Factor ETF 38.3 15 0 5.1 +0.7
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 37.6 12 3 4.6 +0.2
OUSA O'Shares FTSE US Quality Dividend ETF 37.1 48 -33 5.6 +1.2
QDF FlexShares Quality Dividend Index Fund 37.0 37 -22 5.7 +1.3
DGRW WisdomTree U.S. Quality Dividend Growth Fund 36.9 28 -13 6.2 +1.8
RECS Columbia Research Enhanced Core ETF 35.5 15 0 5.3 +0.9
XLK Technology Select Sector SPDR Fund 35.4 13 2 4.6 +0.1
FQAL Fidelity Quality Factor ETF 35.2 29 -14 5.2 +0.7
VIG Vanguard Dividend Appreciation Index Fund 35.1 6 9 5.1 +0.6
QUS SPDR MSCI USA StrategicFactors ETF 34.5 15 0 5.5 +1.1
EDOW First Trust Dow 30 Equal Weight ETF 34.4 50 -35 5.3 +0.9
QDYN FlexShares Quality Dividend Dynamic Index Fund 33.8 37 -22 5.7 +1.3
JQUA JPMorgan U.S. Quality Factor ETF 33.7 12 3 5.1 +0.7
SPXN ProShares S&P 500 Ex-Financials ETF 33.3 27 -12 4.7 +0.2
QDEF FlexShares Quality Dividend Defensive Index Fund 32.7 37 -22 5.8 +1.4
MTUM iShares MSCI USA Momentum Factor ETF 32.7 15 0 4.1 -0.3
SPQQ Siren Large Cap Blend Index ETF 32.4 20 -5 4.5 +0.1
IQSU IQ Candriam ESG US Equity ETF 32.2 9 6 4.8 +0.4
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 32.1 49 -34 4.3 -0.2
VOOG Vanguard S&P 500 Growth ETF 31.9 10 5 4.2 -0.3
PBP Invesco S&P 500 BuyWrite ETF 31.9 49 -34 4.7 +0.3
MGC Vanguard Mega Cap Index Fund 31.8 7 8 4.8 +0.4
OEF iShares S&P 100 ETF 31.7 20 -5 4.6 +0.1
FTEC Fidelity MSCI Information Technology Index ETF 31.7 8 7 4.3 -0.1
XYLG Global X S&P 500 Covered Call & Growth ETF 31.7 60 -45 4.7 +0.2
BKLC BNY Mellon US Large Cap Core Equity ETF 31.6 0 15 4.8 +0.4
XOUT GraniteShares XOUT U.S. Large Cap ETF 31.6 60 -45 3.9 -0.6
HSPX Global X S&P 500 Covered Call ETF 31.6 60 -45 4.6 +0.2
DIA SPDR Dow Jones Industrial Average ETF Trust 31.5 16 -1 5.1 +0.7
SPLG SPDR Portfolio Large Cap ETF 31.5 3 12 5.1 +0.6
SPY SPDR S&P 500 ETF Trust 31.5 9 6 5.0 +0.6
IVV iShares Core S&P 500 ETF 31.5 3 12 5.1 +0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 31.4 20 -5 4.6 +0.2
IWL iShares Russell Top 200 ETF 31.4 15 0 4.7 +0.2
XLG Invesco S&P 500 Top 50 ETF 31.4 20 -5 4.3 -0.1
DGRO iShares Core Dividend Growth ETF 31.4 8 7 6.3 +1.8
FDRR Fidelity Dividend ETF for Rising Rates 31.3 29 -14 6.4 +1.9
AFLG First Trust Active Factor Large Cap ETF 31.3 55 -40 4.9 +0.5
ESGV Vanguard ESG U.S. Stock ETF 31.3 12 3 4.8 +0.3
DIVB iShares U.S. Dividend & Buyback ETF 31.3 25 -10 6.3 +1.8
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 31.2 20 -5 5.0 +0.6
VGT Vanguard Information Technology Index Fund 31.2 10 5 4.3 -0.2
EFIV SPDR S&P 500 ESG ETF 31.2 10 5 4.8 +0.4
VOO VANGUARD S&P 500 ETF 31.1 3 12 5.1 +0.6
SNPE Xtrackers S&P 500 ESG ETF 31.1 10 5 4.8 +0.4
SPXE ProShares S&P 500 Ex-Energy ETF 31.1 27 -12 4.9 +0.5
SPYG SPDR Portfolio S&P 500 Growth ETF 31.0 4 11 4.2 -0.2
IVW iShares S&P 500 Growth ETF 31.0 18 -3 4.1 -0.4
PFM Invesco Dividend Achievers ETF 30.9 53 -38 5.1 +0.6
VEGN US Vegan Climate ETF 30.8 60 -45 4.7 +0.3
FDVV Fidelity Core Dividend ETF 30.7 29 -14 6.5 +2.1
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 30.7 10 5 5.0 +0.6
SUSL iShares ESG MSCI USA Leaders ETF 30.7 10 5 5.0 +0.6
ESGU iShares MSCI USA ESG Optimized ETF 30.6 15 0 4.7 +0.3
DLN WisdomTree U.S. LargeCap Dividend Fund 30.6 28 -13 6.1 +1.6
IGM iShares Expanded Tech Sector ETF 30.5 46 -31 3.6 -0.8
IXN iShares Global Tech ETF 30.3 46 -31 4.2 -0.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 30.2 7 8 4.9 +0.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 30.1 2 13 4.9 +0.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 30.0 15 0 5.9 +1.5
PBUS Invesco PureBeta MSCI USA ETF 30.0 4 11 4.9 +0.4
IUSG iShares Core S&P US Growth ETF 29.9 4 11 4.2 -0.2
EPS WisdomTree U.S. Earnings 500 Fund 29.8 8 7 6.0 +1.6
FLQL Franklin LibertyQ U.S. Equity ETF 29.7 15 0 5.9 +1.5
CATH Global X S&P 500 Catholic Values Custom ETF 29.7 29 -14 4.8 +0.3
JHMT John Hancock Multifactor Technology ETF 29.7 40 -25 4.4 0.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 29.7 9 6 5.3 +0.9
SPTM SPDR Portfolio Total Stock Market ETF 29.5 3 12 5.1 +0.7
WOMN Impact Shares YWCA Women's Empowerment ETF 29.5 75 -60 3.9 -0.6
IYW iShares U.S. Technology ETF 29.4 43 -28 3.7 -0.7
JKD iShares Morningstar Large-Cap ETF 29.4 20 -5 5.4 +1.0
VV Vanguard Large-Cap Index Fund 29.4 4 11 4.9 +0.4
IWY iShares Russell Top 200 Growth ETF 29.4 20 -5 3.8 -0.6
NACP Impact Shares NAACP Minority Empowerment ETF 29.3 75 -60 4.6 +0.2
SPMO Invesco S&P 500 Momentum ETF 29.2 13 2 4.0 -0.5
SCHX Schwab U.S. Large-Cap ETF 29.1 3 12 4.8 +0.4
MMTM SPDR S&P 1500 Momentum Tilt ETF 29.0 12 3 4.2 -0.2
QQQM Invesco NASDAQ 100 ETF 29.0 15 0 3.8 -0.6
QQQ Invesco QQQ Trust 29.0 20 -5 3.8 -0.7
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 28.9 60 -45 3.4 -1.0
QYLD Global X NASDAQ 100 Covered Call ETF 28.9 60 -45 3.4 -1.1
NUSI Nationwide Risk-Managed Income ETF 28.9 68 -53 3.5 -0.9
LRGE ClearBridge Large Cap Growth ESG ETF 28.8 59 -44 3.6 -0.9
FLRG Fidelity U.S. Multifactor ETF 28.5 29 -14 6.2 +1.7
SCHK Schwab 1000 Index ETF 28.4 5 10 4.9 +0.4
ESG FlexShares STOXX US ESG Impact Index Fund 28.4 32 -17 4.8 +0.4
RAFE PIMCO RAFI ESG U.S. ETF 28.3 29 -14 7.1 +2.7
IWB iShares Russell 1000 ETF 28.3 15 0 4.8 +0.3
SPXV ProShares S&P 500 Ex-Health Care ETF 28.3 27 -12 4.7 +0.2
DSI iShares MSCI KLD 400 Social ETF 28.3 25 -10 4.8 +0.4
MGK Vanguard Mega Cap Growth ETF 28.1 7 8 3.9 -0.6
IYY iShares Dow Jones U.S. ETF 28.1 20 -5 4.7 +0.3
TECB iShares US Tech Breakthrough Multisector ETF 28.0 40 -25 3.9 -0.5
USXF iShares ESG Advanced MSCI USA ETF 28.0 10 5 4.7 +0.2
IWF iShares Russell 1000 Growth ETF 28.0 19 -4 3.7 -0.8
HIPR Direxion High Growth ETF 28.0 40 -25 4.4 -0.0

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%.

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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 Quality ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 19.8 %
Divided by: Fwd. P/BV 4.3 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 CATEGORY
AVERAGE
1.50
 
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.