Invesco S&P 500 Value with Momentum ETF
ALTAR
Score™
9.3% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
14.0x P/Sales
ratio
0.7x
P/BV
ratio
1.4x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
SPVM tracks an index of S&P 500 stocks selected by value and momentum and weighted by value.

FUND BASICS
Category US Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Jun 16, 2011
Assets (mns) $34
Currency USD
Expense ratio 39 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $43,568
Large cap (>$10bn) 80.0%
Mid cap ($2-10bn) 20.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
METLIFE INC 2.2 %
WESTROCK CO. 2.0 %
CENTURYTEL INC 1.7 %
CITIGROUP INC 1.7 %
KROGER CO 1.7 %
HOWMET AEROSPACE INC. 1.7 %
ARCHER-DANIELS-MIDLAND CO 1.7 %
CVS CAREMARK CORP 1.6 %
AMERISOURCEBERGEN CORP 1.6 %
WHIRLPOOL CORP 1.5 %
Total 17.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.8 %
IRELAND 3.2 %









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.
-22.1% -- -- -- -15.0%

Market Correlations
versus... Beta R-squared
S&P500 1.43 93%
MSCI EAFE 1.44 93%
MSCI Emg. Mkts. 1.08 81%

Technical Indicators
Recent close $32.71
30d moving avg. $33.69
Annualized volatility 32.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 26
Turnover 2.5%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $39,667

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Invesco S&P 500 Value with Momentum ETF ETF based on the alternatives' overlap in portfolio holdings with SPVM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SPVM Expense: 39 bp ALTAR Score™: 9.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SPVM
Ticker Fund
Name
Overlap1
vs SPVM
(%)
Expense
ratio
(bp)
Savings
vs SPVM
(bp)
ALTAR
Score™
(%)
ALTAR
vs SPVM
(%)
FTA First Trust Large Cap Value AlphaDEX Fund 39.9 60 -21 9.4 +0.1
RPV Invesco S&P 500 Pure Value ETF 37.1 35 4 11.4 +2.2
SPVU Invesco S&P 500 Enhanced Value ETF 34.1 13 26 11.6 +2.4
RWL Invesco S&P 500 Revenue ETF 30.6 39 0 7.3 -2.0
VLUE iShares Edge MSCI USA Value Factor ETF 28.8 15 24 11.5 +2.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 28.1 35 4 8.8 -0.5
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 27.4 20 19 7.7 -1.6
MAGA Point Bridge GOP Stock Tracker ETF 27.4 72 -33 6.7 -2.6
JKI iShares Morningstar Mid-Cap Value ETF 26.8 30 9 9.3 +0.1
VALQ American Century STOXX U.S. Quality Value ETF 25.2 29 10 9.2 -0.1
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 25.2 35 4 8.7 -0.5
VOOV Vanguard S&P 500 Value ETF 25.0 15 24 7.4 -1.8
RYF Invesco S&P 500 Equal Weight Financials ETF 24.9 40 -1 9.8 +0.5
PWV Invesco Dynamic Large Cap Value ETF 24.8 55 -16 8.9 -0.4
SPYV SPDR Portfolio S&P 500 Value ETF 24.7 4 35 7.5 -1.8
IVE iShares S&P 500 Value ETF 24.7 18 21 7.3 -1.9
VTV Vanguard Value Index Fund 24.5 4 35 7.5 -1.8
VONV Vanguard Russell 1000 Value Index Fund 23.7 8 31 7.3 -1.9
VLU SPDR S&P 1500 Value Tilt ETF 23.6 12 27 7.5 -1.7
IUSV iShares Core S&P U.S. Value ETF 23.6 4 35 7.6 -1.7
VOE Vanguard Mid-Cap Value Index Fund 23.3 7 32 8.1 -1.2
MGV Vanguard Mega Cap Value ETF 22.9 7 32 7.3 -1.9
JVAL JPMorgan U.S. Value Factor ETF 22.7 12 27 8.8 -0.4
JKF iShares Morningstar Large Cap Value ETF 22.6 25 14 7.6 -1.7
IEFN iShares Evolved U.S. Financials ETF 22.5 18 21 9.4 +0.2
FVAL Fidelity Value Factor ETF 22.4 29 10 8.0 -1.2
PRF Invesco FTSE RAFI US 1000 ETF 22.3 39 0 6.9 -2.4
REVS Columbia Research Enhanced Value ETF 22.3 19 20 7.8 -1.5
ROUS Hartford Multifactor US Equity ETF 22.2 19 20 7.3 -1.9
VFVA Vanguard U.S. Value Factor ETF 22.1 14 25 11.7 +2.5
FEX First Trust Large Cap Core AlphaDEX Fund 22.1 60 -21 6.0 -3.3
IWD iShares Russell 1000 Value ETF 22.1 19 20 7.2 -2.0
ESGS Columbia Sustainable U.S. Equity Income ETF 22.0 35 4 8.6 -0.6
USDY Pacific Global US Equity Income ETF 21.8 29 10 7.3 -1.9
DTN WisdomTree U.S. Dividend ex-Financials Fund 21.8 38 1 8.1 -1.2
WLDR Affinity World Leaders Equity ETF 21.8 47 -8 9.7 +0.5
FAB First Trust Multi Cap Value AlphaDEX Fund 21.8 71 -32 9.8 +0.6
FNDX Schwab Fundamental U.S. Large Co. Index ETF 21.7 25 14 6.6 -2.7
EPS WisdomTree U.S. Earnings 500 Fund 21.3 8 31 6.5 -2.8
SPHB Invesco S&P 500 High Beta ETF 21.2 25 14 9.6 +0.4
IWX iShares Russell Top 200 Value ETF 21.2 20 19 7.2 -2.1
LVHB Innovator Lunt Low Vol/High Beta Tactical ETF 21.2 49 -10 9.4 +0.2
TPHD Timothy Plan High Dividend Stock ETF 21.0 52 -13 7.8 -1.5
QLC FlexShares US Quality Large Cap Index Fund 20.9 32 7 5.3 -3.9
DVY iShares Select Dividend ETF 20.9 39 0 9.8 +0.5
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 20.6 17 22 6.6 -2.7
CLRG IQ Chaikin U.S. Large Cap ETF 20.6 25 14 6.0 -3.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 20.6 25 14 6.6 -2.7
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 20.5 15 24 6.9 -2.3
SCIU Global X Scientific Beta US ETF 20.4 19 20 5.8 -3.5
SCHV Schwab U.S. Large-Cap Value ETF 20.4 4 35 7.2 -2.0
VUSE Vident Core US Equity Fund 20.3 48 -9 8.4 -0.9
RAFE PIMCO RAFI ESG U.S. ETF 20.3 29 10 7.8 -1.4
RSP Invesco S&P 500 Equal Weight ETF 19.8 20 19 6.8 -2.5
VYM Vanguard High Dividend Yield Index ETF 19.7 6 33 7.4 -1.9
LSAF LeaderShares AlphaFactor US Core Equity ETF 19.7 75 -36 7.3 -1.9
JHMF John Hancock Multifactor Financials ETF 19.7 40 -1 7.8 -1.4
LRGF iShares Edge MSCI Multifactor USA ETF 19.4 20 19 7.4 -1.9
FVD First Trust Value Line Dividend Index Fund 19.1 70 -31 6.5 -2.8
EQWL Invesco Russell Top 200 Equal Weight ETF 18.9 25 14 6.1 -3.2
RVRS Reverse Cap Weighted U.S. Large Cap ETF 18.9 29 10 8.3 -0.9
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 18.9 60 -21 6.3 -3.0
XLF Financial Select Sector SPDR Fund 18.8 13 26 8.3 -1.0
JDIV JPMorgan U.S. Dividend ETF 18.6 12 27 8.0 -1.3
QDF FlexShares Quality Dividend Index Fund 18.5 37 2 6.1 -3.1
RNLC Large Cap US Equity Select ETF 18.3 60 -21 6.4 -2.9
ONEO SPDR Russell 1000 Momentum Focus ETF 18.2 20 19 6.5 -2.8
SPXT ProShares S&P 500 Ex-Technology ETF 18.1 27 12 5.6 -3.6
IUS Invesco Strategic US ETF 18.0 19 20 6.7 -2.6
AFLG First Trust Active Factor Large Cap ETF 17.9 55 -16 5.5 -3.7
SYV SPDR MFS Systematic Value Equity ETF 17.9 60 -21 7.5 -1.7
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 17.8 17 22 6.4 -2.8
DLN WisdomTree U.S. LargeCap Dividend Fund 17.7 28 11 6.4 -2.9
JPUS JPMorgan Diversified Return U.S. Equity ETF 17.6 18 21 6.3 -3.0
DIVB iShares U.S. Dividend & Buyback ETF 17.5 25 14 6.6 -2.6
PY Principal Shareholder Yield Index ETF 17.5 29 10 9.7 +0.4
VFH Vanguard Financials Index Fund 17.5 10 29 8.9 -0.4
CFA VictoryShares US 500 Volatility Weighted Index ETF 17.4 35 4 5.9 -3.3
FNCL Fidelity MSCI Financials Index ETF 17.3 8 31 8.9 -0.4
COWZ Pacer US Cash Cows 100 ETF 17.2 49 -10 11.0 +1.7
JHML John Hancock Multifactor Large Cap ETF 17.2 29 10 5.5 -3.7
DGRO iShares Core Dividend Growth ETF 17.1 8 31 6.7 -2.6
DTD WisdomTree U.S.Total Dividend Fund 17.0 28 11 6.7 -2.6
DYNF BlackRock U.S. Equity Factor Rotation ETF 17.0 30 9 6.5 -2.7
QDEF FlexShares Quality Dividend Defensive Index Fund 16.7 37 2 5.9 -3.4
JMIN JPMorgan U.S. Minimum Volatility ETF 16.6 12 27 5.9 -3.4
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 16.4 9 30 5.9 -3.4
SPYD SPDR S&P 500 High Dividend ETF 16.4 7 32 10.6 +1.3
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 16.4 25 14 7.9 -1.4
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 16.4 29 10 10.0 +0.8
SPGP Invesco S&P 500 GARP ETF 16.3 35 4 7.2 -2.1
CATH Global X S&P 500 Catholic Values Custom ETF 16.3 29 10 5.2 -4.1
QUS SPDR MSCI USA StrategicFactors ETF 16.1 15 24 5.8 -3.4
IWS iShares Russell Mid-Cap Value ETF 16.1 24 15 7.3 -1.9
VFMF Vanguard U.S. Multifactor ETF 16.1 19 20 7.2 -2.0
RNDV US Equity Dividend Select ETF 16.0 50 -11 7.7 -1.5
FDRR Fidelity Dividend ETF for Rising Rates 15.9 29 10 7.0 -2.2
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 15.7 29 10 6.2 -3.0

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 Value with Momentum ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.5 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 9.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 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.