Invesco Russell 1000 Enhanced Equal Weight
ALTAR
Score™
6.6% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
16.4x P/Sales
ratio
1.5x
P/BV
ratio
2.4x Div.
yield
2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco Russell 1000 Enhanced Equal Weight Portfolio tracks an equal-weighted index of stocks selected from the 1000 largest US companies. Holdings are screened for valuation and momentum.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.invesco.com
Inception date Jul 13, 2017
Assets (mns) $15
Currency USD
Expense ratio 29 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 705
Wgt avg mkt cap (mns) $41,269
Large cap (>$10bn) 59.0%
Mid cap ($2-10bn) 40.6%
Small cap (<$2bn) 0.4%
Developed mkts 99.9%
Emerging mkts 0.2%

TOP TEN HOLDINGS
FISERV INC 0.3 %
GLOBAL PAYMENTS INC 0.3 %
HARRIS CORP 0.3 %
BRISTOL-MYERS SQUIBB CO 0.2 %
QORVO INC 0.2 %
UBIQUITI NETWORKS INC 0.2 %
TARGET CORP 0.2 %
KLA-TENCOR CORPORATION 0.2 %
JABIL CIRCUIT INC 0.2 %
LAM RESEARCH CORP 0.2 %
Total 2.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.2 %
IRELAND 1.2 %
BRITAIN 1.2 %
BERMUDA 1.0 %
SWITZERLAND 0.3 %
PANAMA 0.2 %
NETHERLANDS 0.1 %
CHINA 0.1 %
CAYMAN ISLANDS 0.1 %
PUERTO RICO 0.1 %

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.
25.2% 12.7% -- -- 9.0%

Market Correlations
versus... Beta R-squared
S&P500 1.04 94%
MSCI EAFE 1.04 71%
MSCI Emg. Mkts. 0.73 54%

Technical Indicators
Recent close $29.58
30d moving avg. $29.33
Annualized volatility 14.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.4%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $133,763

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco Russell 1000 Enhanced Equal Weight ETF based on the alternatives' overlap in portfolio holdings with USEQ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: USEQ Expense: 29 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH USEQ
Ticker Fund
Name
Overlap1
vs USEQ
(%)
Expense
ratio
(bp)
Savings
vs USEQ
(bp)
ALTAR
Score™
(%)
ALTAR
vs USEQ
(%)
SIZE iShares MSCI USA Size Factor 67.4 15 14 6.3 -0.4
EUSA iShares MSCI USA Equal Weight 67.0 15 14 6.4 -0.2
ONEO SPDR Russell 1000 Momentum Focus 64.0 20 9 6.5 -0.2
DEUS Xtrackers Russell 1000 Comprehensive Factor 62.5 17 12 6.4 -0.3
CFO Victory CEMP US 500 Enhanced Volatility Wtd 60.7 35 -6 6.1 -0.6
CFA Compass EMP US 500 Volatility Weighted 60.7 35 -6 6.1 -0.6
EQAL Invesco Russel 1000 Equal Weight 60.1 20 9 5.9 -0.8
RSP Invesco S&P 500 Equal Weight 57.9 20 9 6.8 +0.1
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity 56.0 9 20 6.0 -0.7
OSIZ Invesco Russell 1000 Size Factor ETF 55.1 19 10 6.2 -0.4
IWR iShares Russell Midcap 54.7 19 10 5.9 -0.8
JHMM John Hancock Multifactor Mid Cap 54.5 44 -15 5.9 -0.8
JHML John Hancock Multifactor Large Cap 53.6 34 -5 6.0 -0.7
USLB Invesco Russell 1000 Low Beta Equal Weight 50.0 35 -6 5.8 -0.8
ONEV SPDR Russell 1000 Low Volatility Focus 48.1 20 9 6.9 +0.3
IWS iShares Russell Midcap Value 47.8 24 5 7.0 +0.3
JPUS JPMorgan Diversified Return U.S. Equity 46.9 19 10 6.3 -0.3
RNLC Large Cap US Equity Select 46.6 60 -31 6.3 -0.3
JPME JPMorgan Diversified Return U.S. Mid Cap Equity 45.5 24 5 6.1 -0.6
AVUS Avantis U.S. Equity 44.5 15 14 6.1 -0.5

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

  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 Russell 1000 Enhanced Equal Weight
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.2 %
Divided by: Fwd. P/BV 2.2 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 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.