Invesco S&P 500 Momentum ETF
ALTAR
Score™
4.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
27.5x P/Sales
ratio
4.0x
P/BV
ratio
5.4x Div.
yield
1.5%


  • 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) $64
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) $445,167
Large cap (>$10bn) 99.3%
Mid cap ($2-10bn) 0.7%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 10.5 %
MICROSOFT CORP 9.6 %
VISA INC-CLASS A SHARES 4.5 %
NVIDIA CORP 4.4 %
MASTERCARD INC-CLASS A 3.8 %
PROCTER & GAMBLE CO/THE 3.7 %
HOME DEPOT INC 3.5 %
ADOBE SYSTEMS INC 3.0 %
NEXTERA ENERGY GROUP 2.8 %
AT&T INC 2.8 %
Total 48.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.3 %
BRITAIN 1.2 %
IRELAND 0.7 %








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.
5.1% 9.9% -- -- 12.9%

Market Correlations
versus... Beta R-squared
S&P500 0.89 86%
MSCI EAFE 0.86 70%
MSCI Emg. Mkts. 0.60 53%

Technical Indicators
Recent close $44.01
30d moving avg. $43.09
Annualized volatility 16.3%
Short interest (ETF) 0.8%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 33
Turnover 2.3%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $80,267

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco S&P 500 Momentum ETF 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™: 4.4%


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
(%)
MMTM SPDR S&P 1500 Momentum Tilt ETF 45.1 12 1 5.0 +0.6
XLK Technology Select Sector SPDR Fund 44.6 13 0 4.8 +0.3
VOOG Vanguard S&P 500 Growth ETF 43.1 10 3 4.3 -0.1
SPYG SPDR Portfolio S&P 500 Growth ETF 43.1 4 9 4.4 -0.1
IVW iShares S&P 500 Growth ETF 43.0 18 -5 4.2 -0.2
IWY iShares Russell Top 200 Growth ETF 42.6 20 -7 4.2 -0.3
HIPR Direxion High Growth ETF 42.1 40 -27 2.9 -1.6
MGK Vanguard Mega Cap Growth ETF 42.0 7 6 4.2 -0.3
FTEC Fidelity MSCI Information Technology Index ETF 41.7 8 5 4.6 +0.2
VGT Vanguard Information Technology Index Fund 41.2 10 3 4.6 +0.1
IUSG iShares Core S&P US Growth ETF 41.2 4 9 4.4 -0.0
IWF iShares Russell 1000 Growth ETF 41.1 19 -6 4.2 -0.2
VUG Vanguard Growth Index Fund 41.0 4 9 4.1 -0.4
FDMO Fidelity Momentum Factor ETF 40.6 29 -16 3.9 -0.6
IXN iShares Global Tech ETF 40.2 46 -33 4.5 +0.1
SCHG Schwab U.S. Large-Cap Growth ETF 39.9 4 9 4.2 -0.3
JMOM JPMorgan U.S. Momentum Factor ETF 38.9 12 1 3.9 -0.6
IQSU IQ Candriam ESG US Equity ETF 38.6 9 4 5.1 +0.7
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 38.6 49 -36 4.1 -0.3
VEGN US Vegan Climate ETF 37.8 60 -47 5.2 +0.8
TMFC Motley Fool 100 Index ETF 37.8 50 -37 3.8 -0.6
VONG Vanguard Russell 1000 Growth Index Fund 37.6 8 5 4.3 -0.1
SPXV ProShares S&P 500 Ex-Health Care ETF 37.3 27 -14 5.1 +0.6
XLG Invesco S&P 500 Top 50 ETF 37.1 20 -7 4.5 +0.1
IETC iShares Evolved U.S. Technology ETF 36.9 18 -5 3.8 -0.6
MTUM iShares Edge MSCI USA Momentum Factor ETF 36.7 15 -2 4.2 -0.2
IGM iShares Expanded Tech Sector ETF 36.3 46 -33 3.8 -0.6
NUSI Nationwide Risk-Managed Income ETF 36.1 68 -55 3.5 -1.0
QYLD Global X NASDAQ 100 Covered Call ETF 36.0 60 -47 3.5 -0.9
PWB Invesco Dynamic Large Cap Growth ETF 35.9 55 -42 3.4 -1.0
SNPE Xtrackers S&P 500 ESG ETF 35.9 11 2 5.2 +0.7
QQQ Invesco QQQ Trust 35.5 20 -7 3.9 -0.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 35.2 60 -47 4.4 +0.0
OEF iShares S&P 100 ETF 35.2 20 -7 4.8 +0.4
SPHQ Invesco S&P 500 Quality ETF 34.9 15 -2 4.7 +0.2
RECS Columbia Research Enhanced Core ETF 34.7 15 -2 5.7 +1.3
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 34.4 75 -62 2.1 -2.4
ACIO Aptus Collared Income Opportunity ETF 34.4 79 -66 4.4 -0.1
SPXN ProShares S&P 500 Ex-Financials ETF 34.2 27 -14 5.0 +0.6
IWL iShares Russell Top 200 ETF 33.8 15 -2 5.1 +0.7
IYW iShares U.S. Technology ETF 33.8 42 -29 4.0 -0.4
FDLO Fidelity Low Volatility Factor ETF 33.7 29 -16 5.2 +0.7
SUSL iShares ESG MSCI USA Leaders ETF 33.6 10 3 5.3 +0.9
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 33.6 10 3 5.3 +0.9
JKE iShares Morningstar Large-Cap Growth ETF 33.5 25 -12 2.9 -1.6
BKLC BNY Mellon US Large Cap Core Equity ETF 33.4 0 13 5.3 +0.9
SPXE ProShares S&P 500 Ex-Energy ETF 33.4 27 -14 5.4 +1.0
CATH Global X S&P 500 Catholic Values Custom ETF 33.4 29 -16 5.3 +0.8
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 33.3 12 1 4.9 +0.4
DSI iShares MSCI KLD 400 Social ETF 33.2 25 -12 5.2 +0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 33.2 20 -7 5.4 +1.0
PBP Invesco S&P 500 BuyWrite ETF 33.1 49 -36 5.0 +0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 32.8 20 -7 5.0 +0.6
SPY SPDR S&P 500 ETF Trust 32.5 9 4 5.4 +1.0
IVV iShares Core S&P 500 ETF 32.5 4 9 5.5 +1.0
SPLG SPDR Portfolio Large Cap ETF 32.5 3 10 5.5 +1.0
VOO VANGUARD S&P 500 ETF 32.4 3 10 5.5 +1.1
FQAL Fidelity Quality Factor ETF 32.3 29 -16 5.5 +1.1
HSPX Global X S&P 500 Covered Call ETF 32.2 65 -52 4.9 +0.5
ADME Aptus Drawdown Managed Equity ETF 32.2 81 -68 3.6 -0.8
MGC Vanguard Mega Cap Index Fund 32.2 7 6 5.3 +0.9
QLV FlexShares US Quality Low Volatility Index Fund 32.0 22 -9 4.9 +0.5
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 31.8 21 -8 3.0 -1.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 31.7 9 4 5.6 +1.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 31.6 7 6 5.3 +0.8
JKD iShares Morningstar Large-Cap ETF 31.4 20 -7 5.7 +1.3
VIG Vanguard Dividend Appreciation Index Fund 31.4 6 7 5.5 +1.0
ESGU iShares MSCI USA ESG Optimized ETF 31.4 15 -2 5.2 +0.7
PFM Invesco Dividend Achievers ETF 31.0 54 -41 5.5 +1.1
VV Vanguard Large-Cap Index Fund 30.9 4 9 5.3 +0.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 30.7 29 -16 6.3 +1.9
PBUS Invesco PureBeta MSCI USA ETF 30.7 4 9 5.3 +0.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 30.6 2 11 5.4 +0.9
QUS SPDR MSCI USA StrategicFactors ETF 30.3 15 -2 5.9 +1.5
DLN WisdomTree U.S. LargeCap Dividend Fund 30.1 28 -15 6.4 +2.0
ESGV Vanguard ESG U.S. Stock ETF 30.0 12 1 5.2 +0.8
JQUA JPMorgan U.S. Quality Factor ETF 30.0 12 1 5.3 +0.8
SCHX Schwab U.S. Large-Cap ETF 29.9 3 10 5.3 +0.9
SPTM SPDR Portfolio Total Stock Market ETF 29.9 3 10 5.6 +1.2
SYG SPDR MFS Systematic Growth Equity ETF 29.7 60 -47 4.3 -0.1
AFLG First Trust Active Factor Large Cap ETF 29.6 55 -42 5.6 +1.2
DGRW WisdomTree U.S. Quality Dividend Growth Fund 29.3 28 -15 6.5 +2.1
VONE Vanguard Russell 1000 ETF 29.0 8 5 5.3 +0.9
SCHK Schwab 1000 Index ETF 28.9 5 8 5.3 +0.9
RFDA RiverFront Dynamic US Dividend Advantage ETF 28.9 52 -39 5.1 +0.6
IWB iShares Russell 1000 ETF 28.7 15 -2 5.2 +0.8
LRGE ClearBridge Large Cap Growth ESG ETF 28.7 59 -46 3.8 -0.6
IYY iShares Dow Jones U.S. ETF 28.6 20 -7 5.2 +0.8
QDYN FlexShares Quality Dividend Dynamic Index Fund 28.6 37 -24 6.3 +1.9
SFY SoFi Select 500 ETF 28.4 0 13 5.3 +0.9
NACP Impact Shares NAACP Minority Empowerment ETF 28.2 75 -62 4.6 +0.2
ESG FlexShares STOXX US ESG Impact Index Fund 28.2 32 -19 5.1 +0.7
YLDE ClearBridge Dividend Strategy ESG ETF 28.1 60 -47 5.0 +0.6
USMV iShares Edge MSCI Min Vol USA ETF 28.1 15 -2 5.5 +1.1
SFYF SoFi 50 ETF 27.9 29 -16 5.4 +1.0
NULC Nuveen ESG Large-Cap ETF 27.8 20 -7 5.0 +0.6
SUSA iShares MSCI USA ESG Select ETF 27.8 25 -12 4.8 +0.4
TECB iShares US Tech Breakthrough Multisector ETF 27.8 40 -27 4.0 -0.4
DIA SPDR Dow Jones Industrial Average ETF Trust 27.5 16 -3 5.7 +1.2
SCHB Schwab U.S. Broad Market ETF 27.5 3 10 5.3 +0.9

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 Momentum 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 22.7 %
Divided by: Fwd. P/BV 5.0 x
Less: Expense ratio 13 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 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.