Invesco S&P 500 Momentum Portfolio
ALTAR
Score™
4.3% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
25.0x P/Sales
ratio
3.7x
P/BV
ratio
5.8x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P 500 Momentum Portfolio tracks an index that selects and weights 100 of the highest-scoring securities by momentum held within the S&P 500.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.invesco.com
Inception date Oct 09, 2015
Assets (mns) $68
Currency USD
Expense ratio 13 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $245,255
Large cap (>$10bn) 99.8%
Mid cap ($2-10bn) 0.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSOFT CORP 9.9 %
PROCTER & GAMBLE CO/THE 7.4 %
VISA INC-CLASS A SHARES 4.5 %
MASTERCARD INC-CLASS A 3.8 %
WALT DISNEY CO/THE 3.6 %
MERCK & CO. INC. 3.6 %
MCDONALD'S CORP 3.2 %
CISCO SYSTEMS INC 2.9 %
STARBUCKS CORP 2.7 %
WAL-MART STORES INC 2.5 %
Total 44.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.8 %
IRELAND 2.3 %
BRITAIN 0.8 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
23.5% 12.7% -- -- 12.9%

Market Correlations
versus... Beta R-squared
S&P500 0.94 80%
MSCI EAFE 0.84 53%
MSCI Emg. Mkts. 0.58 42%

Technical Indicators
Recent close $41.06
30d moving avg. $40.53
Annualized volatility 12.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 34
Turnover 2.1%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $32,780

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P 500 Momentum Portfolio ETF based on the alternatives' overlap in portfolio holdings with SPMO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPMO Expense: 13 bp ALTAR Score™: 4.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPMO
Ticker Fund
Name
Overlap1
vs SPMO
(%)
Expense
ratio
(bp)
Savings
vs SPMO
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPMO
(%)
MTUM iShares MSCI USA Momentum Factor 57.6 15 -2 4.4 +0.2
FDMO Fidelity Momentum Factor 38.6 29 -16 4.1 -0.2
JMOM JPMorgan U.S. Momentum Factor 37.2 12 1 4.3 +0.1
USMV iShares MSCI USA Minimum Volatility 37.2 15 -2 5.2 +0.9
PWB Invesco Dynamic Large Cap Growth 36.7 55 -42 4.3 0.0
VOOG Vanguard S&P 500 Growth 35.5 15 -2 5.0 +0.7
SPYG SPDR Portfolio S&P 500 Growth 35.5 4 9 5.1 +0.8
MMTM SPDR S&P1500 Momentum Tilt 35.5 12 1 5.4 +1.1
IVW iShares S&P 500 Growth 35.5 18 -5 4.9 +0.7
VIG Vanguard Dividend Appreciation 35.4 6 7 5.5 +1.2
OMOM Invesco Russell 1000 Momentum Factor ETF 33.8 19 -6 5.3 +1.0
FDLO Fidelity Low Volatility Factor 33.4 29 -16 5.4 +1.1
IUSG iShares Core U.S. Growth 33.3 4 9 5.1 +0.8
SPHQ Invesco S&P High Quality Portfolio 32.4 15 -2 5.7 +1.4
DSI iShares MSCI KLD 400 Social 32.2 25 -12 5.6 +1.3
JKE iShares Morningstar Large Cap Growth 32.1 25 -12 4.0 -0.2
AUSF Global X Adaptive U.S. Factor 31.9 27 -14 6.9 +2.7
OVOL Invesco Russell 1000 Low Volatility Factor ETF 31.9 19 -6 5.7 +1.4
FTC First Trust Large Cap Growth 31.0 61 -48 3.7 -0.6
XLK Technology Select Sector SPDR 30.8 13 0 5.7 +1.4

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 Momentum Portfolio
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 21.9 %
Divided by: Fwd. P/BV 5.0 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 CATEGORY
AVERAGE
1.56
 
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.