Invesco S&P Top 50
ALTAR
Score™
4.8% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
22.0x P/Sales
ratio
3.4x
P/BV
ratio
4.4x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P 500 Top 50 ETF is an exchange-traded fund incorporated in the USA. The Fund's objective is to replicate as closely as possible, before expenses, the performance of the S&P 500 Top 50 Index. The Index consists of the common stocks of the 50 largest US companies based on total market capitalization as represented in the S&P 500 Index.

FUND BASICS
Category US Equities
Fund Sponsor Security Investors LLC
Website guggenheiminvestments.com
Inception date May 10, 2005
Assets (mns) $977
Currency USD
Expense ratio 20 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 51
Wgt avg mkt cap (mns) $553,723
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 9.3 %
MICROSOFT CORP 8.8 %
AMAZON.COM INC 5.6 %
FACEBOOK 3.8 %
BERKSHIRE HATHAWAY INC-CL B 3.2 %
ALPHABET INC. CLASS A 3.1 %
ALPHABET INC. CLASS C 3.1 %
JPMORGAN CHASE & CO 3.1 %
JOHNSON & JOHNSON 2.7 %
VISA INC-CLASS A SHARES 2.4 %
Total 45.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.8 %
IRELAND 2.1 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
32.0% 32.0% 12.7% 13.1% 8.8%

Market Correlations
versus... Beta R-squared
S&P500 0.99 97%
MSCI EAFE 0.89 64%
MSCI Emg. Mkts. 0.60 50%

Technical Indicators
Recent close $241.08
30d moving avg. $232.96
Annualized volatility 12.2%
Short interest (ETF) 1.3%
Short interest (Underlying) 1.4%
Relative strength (RSI) 77

Liquidity measures
Avg. volume (thou.) 20
Turnover 0.5%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $58,260

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P Top 50 ETF based on the alternatives' overlap in portfolio holdings with XLG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XLG Expense: 20 bp ALTAR Score™: 4.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XLG
Ticker Fund
Name
Overlap1
vs XLG
(%)
Expense
ratio
(bp)
Savings
vs XLG
(bp)
ALTAR
Score™
(%)
ALTAR
vs XLG
(%)
OEF iShares S&P 100 78.4 20 0 5.1 +0.3
USMC Principal U.S. Mega-Cap Multi-Factor Index 73.4 12 8 5.1 +0.3
IWY iShares Russell Top 200 Growth 63.5 20 0 4.6 -0.2
IWL iShares Russell Top 200 63.3 15 5 5.3 +0.5
WOMN Impact Shares YWCA Women's Empowerment 60.6 75 -55 5.1 +0.2
NACP Impact Shares NAACP Minority Empowerment 60.3 75 -55 5.1 +0.3
OVOL Invesco Russell 1000 Low Volatility Factor ETF 59.6 19 1 5.4 +0.5
MGC Vanguard Mega Cap 300 ETF 59.4 7 13 5.5 +0.7
VOOG Vanguard S&P 500 Growth 59.2 15 5 4.6 -0.2
ESG FlexShares STOXX US ESG Impact Index Fund 59.2 32 -12 5.0 +0.2
SPYG SPDR Portfolio S&P 500 Growth 58.8 4 16 4.7 -0.1
IVW iShares S&P 500 Growth 58.7 18 2 4.6 -0.3
OQAL Invesco Russell 1000 Quality Factor ETF 58.3 19 1 4.9 +0.1
XOUT GraniteShares XOUT US Large Cap 57.9 60 -40 4.7 -0.1
IOO iShares S&P Global 100 57.3 40 -20 5.1 +0.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions 56.9 49 -29 4.7 -0.1
VONG Vanguard Russell 1000 Growth 56.1 12 8 4.7 -0.1
IWF iShares Russell 1000 Growth 55.7 19 1 4.6 -0.3
IUSG iShares Core U.S. Growth 54.8 4 16 4.7 -0.1
SNPE Xtrackers S&P 500 ESG 54.7 11 9 5.4 +0.6

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 Top 50
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 19.2 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 CATEGORY
AVERAGE
1.55
 
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.