Invesco S&P 500 Low Volatility ETF
ALTAR
Score™
5.7% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
20.8x P/Sales
ratio
2.1x
P/BV
ratio
3.8x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P 500 Low Volatility Portfolio seeks results that correspond (before fees and expenses) generally to the price and yield of the S&P 500 Low Volatility Index.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date May 05, 2011
Assets (mns) $8,437
Currency USD
Expense ratio 25 bp
Distributions Monthly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $97,986
Large cap (>$10bn) 94.3%
Mid cap ($2-10bn) 5.7%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EBAY INC 1.3 %
VERIZON COMMUNICATIONS INC 1.3 %
AMAZON.COM INC 1.3 %
CLOROX COMPANY 1.3 %
CERNER CORP 1.2 %
GARMIN LTD 1.1 %
PUBLIC STORAGE 1.1 %
C.H. ROBINSON WORLDWIDE INC 1.1 %
HORMEL FOODS CORP 1.1 %
CHURCH & DWIGHT CO INC 1.1 %
Total 11.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.9 %
IRELAND 3.9 %
BRITAIN 3.0 %
SWITZERLAND 1.1 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-13.7% -7.5% 8.6% -- 10.6%

Market Correlations
versus... Beta R-squared
S&P500 0.70 74%
MSCI EAFE 0.70 65%
MSCI Emg. Mkts. 0.48 48%

Technical Indicators
Recent close $50.58
30d moving avg. $49.70
Annualized volatility 13.7%
Short interest (ETF) 1.7%
Short interest (Underlying) 2.8%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 3,820
Turnover 2.3%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $68,214

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: SPLV Expense: 25 bp ALTAR Score™: 5.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPLV
Ticker Fund
Name
Overlap1
vs SPLV
(%)
Expense
ratio
(bp)
Savings
vs SPLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPLV
(%)
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 64.4 25 0 5.9 +0.2
HUSV First Trust Horizon Managed Volatility Domestic ETF 53.6 70 -45 4.8 -0.9
DEF Invesco Defensive Equity ETF 52.1 55 -30 5.1 -0.6
LSLT Salt Low truBeta US Market ETF 49.3 29 -4 6.1 +0.4
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 44.0 60 -35 6.2 +0.5
USMV iShares Edge MSCI Min Vol USA ETF 41.1 15 10 5.5 -0.2
RBUS Nationwide Risk-Based U.S. Equity ETF 38.5 30 -5 5.0 -0.7
FVL First Trust Value Line 100 Exchange-Traded Fund 38.3 70 -45 5.1 -0.6
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 37.6 60 -35 3.4 -2.3
FLLV Franklin Liberty U.S. Low Volatility ETF 34.6 29 -4 5.8 +0.1
JMIN JPMorgan U.S. Minimum Volatility ETF 34.3 12 13 5.9 +0.2
EQWL Invesco Russell Top 200 Equal Weight ETF 33.5 25 0 6.1 +0.4
SPXT ProShares S&P 500 Ex-Technology ETF 33.0 27 -2 5.6 -0.1
FLQL Franklin LibertyQ U.S. Equity ETF 32.1 15 10 6.3 +0.6
FDLO Fidelity Low Volatility Factor ETF 31.7 29 -4 5.1 -0.6
LVUS Hartford Multifactor Low Volatility US Equity ETF 31.6 19 6 6.0 +0.3
SPYV SPDR Portfolio S&P 500 Value ETF 31.0 4 21 7.4 +1.7
IVE iShares S&P 500 Value ETF 30.9 18 7 7.3 +1.6
VOOV Vanguard S&P 500 Value ETF 30.9 15 10 7.3 +1.6
QUS SPDR MSCI USA StrategicFactors ETF 29.8 15 10 5.8 +0.1
IUSV iShares Core S&P U.S. Value ETF 29.6 4 21 7.5 +1.8
USDY Pacific Global US Equity Income ETF 29.2 29 -4 7.2 +1.5
SCHV Schwab U.S. Large-Cap Value ETF 28.8 4 21 7.2 +1.5
VYM Vanguard High Dividend Yield Index ETF 28.4 6 19 7.4 +1.7
PSET Principal Price Setters Index ETF 28.4 29 -4 4.6 -1.1
AFLG First Trust Active Factor Large Cap ETF 28.3 55 -30 5.5 -0.2
ROUS Hartford Multifactor US Equity ETF 28.3 19 6 7.3 +1.6
SPMV Invesco S&P 500 Minimum Variance ETF 27.8 10 15 5.8 +0.1
SPXN ProShares S&P 500 Ex-Financials ETF 27.8 27 -2 4.9 -0.8
MGV Vanguard Mega Cap Value ETF 27.7 7 18 7.3 +1.6
OUSA O'Shares FTSE US Quality Dividend ETF 27.6 48 -23 5.7 -0.0
MGC Vanguard Mega Cap Index Fund 27.6 7 18 5.2 -0.5
SCIU Global X Scientific Beta US ETF 27.6 19 6 5.8 +0.1
SPXE ProShares S&P 500 Ex-Energy ETF 27.5 27 -2 5.3 -0.4
VTV Vanguard Value Index Fund 27.5 4 21 7.4 +1.7
MMTM SPDR S&P 1500 Momentum Tilt ETF 27.5 12 13 4.9 -0.8
IWX iShares Russell Top 200 Value ETF 27.5 20 5 7.1 +1.4
BKLC BNY Mellon US Large Cap Core Equity ETF 27.4 0 25 5.2 -0.5
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 27.4 20 5 5.3 -0.4
IWL iShares Russell Top 200 ETF 27.4 15 10 5.0 -0.7
PBP Invesco S&P 500 BuyWrite ETF 27.3 49 -24 5.0 -0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 27.0 9 16 5.5 -0.2
DLN WisdomTree U.S. LargeCap Dividend Fund 27.0 28 -3 6.4 +0.7
OEF iShares S&P 100 ETF 27.0 20 5 4.7 -1.0
SPY SPDR S&P 500 ETF Trust 26.9 9 16 5.3 -0.4
IVV iShares Core S&P 500 ETF 26.9 4 21 5.4 -0.3
SPLG SPDR Portfolio Large Cap ETF 26.9 3 22 5.4 -0.3
MXDU Nationwide Maximum Diversification US Core Equity ETF 26.8 34 -9 4.8 -0.9
VOO VANGUARD S&P 500 ETF 26.8 3 22 5.4 -0.3
HSPX Global X S&P 500 Covered Call ETF 26.8 65 -40 4.8 -0.9
IQSU IQ Candriam ESG US Equity ETF 26.5 9 16 5.0 -0.7
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 26.5 17 8 6.5 +0.8
FNDX Schwab Fundamental U.S. Large Co. Index ETF 26.3 25 0 6.5 +0.8
PFM Invesco Dividend Achievers ETF 26.2 54 -29 5.5 -0.3
PRF Invesco FTSE RAFI US 1000 ETF 26.2 39 -14 6.8 +1.1
DTD WisdomTree U.S.Total Dividend Fund 26.1 28 -3 6.6 +0.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 26.1 7 18 5.2 -0.5
JQUA JPMorgan U.S. Quality Factor ETF 26.0 12 13 5.2 -0.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 26.0 20 5 4.9 -0.8
VV Vanguard Large-Cap Index Fund 25.9 4 21 5.2 -0.5
FTCS First Trust Capital Strength ETF 25.9 58 -33 4.9 -0.8
DYNF BlackRock U.S. Equity Factor Rotation ETF 25.9 30 -5 6.5 +0.8
BBUS JP Morgan Betabuilders U.S. Equity ETF 25.8 2 23 5.3 -0.4
DGRO iShares Core Dividend Growth ETF 25.8 8 17 6.6 +0.9
ACWV iShares Edge MSCI Min Vol Global ETF 25.6 20 5 5.7 -0.0
PBUS Invesco PureBeta MSCI USA ETF 25.5 4 21 5.2 -0.5
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 25.5 29 -4 6.2 +0.5
IWD iShares Russell 1000 Value ETF 25.4 19 6 7.2 +1.5
SFY SoFi Select 500 ETF 25.4 0 25 5.2 -0.5
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 25.4 35 -10 5.4 -0.3
IUS Invesco Strategic US ETF 25.3 19 6 6.7 +1.0
SCHX Schwab U.S. Large-Cap ETF 25.2 3 22 5.3 -0.4
SPTM SPDR Portfolio Total Stock Market ETF 25.2 3 22 5.5 -0.2
RYH Invesco S&P 500 Equal Weight Health Care ETF 25.1 40 -15 6.5 +0.8
EPS WisdomTree U.S. Earnings 500 Fund 25.1 8 17 6.4 +0.7
LGLV SPDR Russell 1000 Low Volatility ETF 25.0 12 13 5.7 -0.0
FNDB Schwab Fundamental U.S. Broad Market Index ETF 24.9 25 0 6.5 +0.8
ACIO Aptus Collared Income Opportunity ETF 24.8 79 -54 4.3 -1.4
ESGU iShares MSCI USA ESG Optimized ETF 24.6 15 10 5.1 -0.6
VONE Vanguard Russell 1000 ETF 24.6 8 17 5.2 -0.5
SNPE Xtrackers S&P 500 ESG ETF 24.6 11 14 5.1 -0.6
CLRG IQ Chaikin U.S. Large Cap ETF 24.6 25 0 6.0 +0.3
VONV Vanguard Russell 1000 Value Index Fund 24.6 8 17 7.3 +1.6
SCHK Schwab 1000 Index ETF 24.5 5 20 5.2 -0.5
KLCD KFA Large Cap Quality Dividend Index ETF 24.5 41 -16 5.4 -0.3
IWB iShares Russell 1000 ETF 24.4 15 10 5.2 -0.6
JHML John Hancock Multifactor Large Cap ETF 24.4 29 -4 5.5 -0.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 24.4 18 7 6.2 +0.5
IYY iShares Dow Jones U.S. ETF 24.3 20 5 5.1 -0.6
QLV FlexShares US Quality Low Volatility Index Fund 24.3 22 3 4.8 -0.9
RWL Invesco S&P 500 Revenue ETF 24.2 39 -14 7.2 +1.5
USMF WisdomTree U.S. Multifactor Fund 24.2 28 -3 5.4 -0.3
ESG FlexShares STOXX US ESG Impact Index Fund 24.1 32 -7 5.0 -0.7
DTN WisdomTree U.S. Dividend ex-Financials Fund 24.1 38 -13 7.9 +2.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 24.0 15 10 6.2 +0.5
EXT WisdomTree U.S. Total Earnings Fund 23.9 28 -3 5.2 -0.5
RECS Columbia Research Enhanced Core ETF 23.9 15 10 5.6 -0.1
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 23.9 75 -50 6.2 +0.5
RAFE PIMCO RAFI ESG U.S. ETF 23.9 29 -4 7.8 +2.1
JKD iShares Morningstar Large-Cap ETF 23.9 20 5 5.6 -0.1

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

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 21.4 %
Divided by: Fwd. P/BV 3.6 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 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.