Invesco S&P MidCap Low Volatility ETF
ALTAR
Score™
7.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
13.8x P/Sales
ratio
1.9x
P/BV
ratio
1.7x Div.
yield
3.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P MidCap Low Volatility Portfolio is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the performance of the S&P MidCap 400 Low Volatility Index.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Feb 15, 2013
Assets (mns) $2,554
Currency USD
Expense ratio 25 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 81
Wgt avg mkt cap (mns) $4,681
Large cap (>$10bn) 2.3%
Mid cap ($2-10bn) 88.1%
Small cap (<$2bn) 9.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HAWAIIAN ELECTRIC INDS 2.1 %
IDACORP INC 1.9 %
TOOTSIE ROLL INDS 1.8 %
NORTHWESTERN CORP 1.7 %
SPIRE, INC. 1.7 %
SILGAN HOLDINGS INC 1.7 %
ONE GAS INC 1.7 %
APTARGROUP INC 1.6 %
OGE ENERGY CORP 1.6 %
CAMDEN PROPERTY TRUST 1.6 %
Total 17.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.8 %
BERMUDA 1.3 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-10.5% -0.5% 9.6% -- 11.8%

Market Correlations
versus... Beta R-squared
S&P500 0.76 75%
MSCI EAFE 0.68 53%
MSCI Emg. Mkts. 0.43 31%

Technical Indicators
Recent close $40.38
30d moving avg. $45.88
Annualized volatility 11.5%
Short interest (ETF) 0.1%
Short interest (Underlying) 3.7%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 358
Turnover 0.6%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $3,734

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco S&P MidCap Low Volatility ETF ETF based on the alternatives' overlap in portfolio holdings with XMLV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XMLV Expense: 25 bp ALTAR Score™: 7.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XMLV
Ticker Fund
Name
Overlap1
vs XMLV
(%)
Expense
ratio
(bp)
Savings
vs XMLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs XMLV
(%)
XMMO Invesco S&P MidCap Momentum ETF 34.3 39 -14 4.9 -2.7
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 31.9 40 -15 7.5 -0.1
IJJ iShares S&P Mid-Cap 400 Value ETF 29.3 25 0 11.3 +3.7
MDYV SPDR S&P 400 Mid Cap Value ETF 29.0 15 10 11.4 +3.7
IVOV Vanguard S&P Mid-Cap 400 Value ETF 28.8 15 10 11.4 +3.8
MDY SPDR S&P Midcap 400 ETF Trust 28.0 23 2 8.4 +0.8
IJH iShares Core S&P Mid-Cap ETF 28.0 6 19 8.6 +1.0
SPMD SPDR Portfolio Mid Cap ETF 28.0 5 20 8.6 +1.0
IVOO Vanguard S&P Mid-Cap 400 ETF 27.9 10 15 8.5 +0.9
IJK iShares S&P Mid-Cap 400 Growth ETF 26.0 24 1 6.3 -1.3
MDYG SPDR S&P 400 Mid Cap Growth ETF 25.9 15 10 6.4 -1.2
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 25.9 15 10 6.4 -1.3
EWMC Invesco S&P MidCap 400 Equal Weight ETF 22.2 40 -15 9.2 +1.6
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 20.5 20 5 7.3 -0.4
PXMV Invesco S&P MidCap Value with Momentum ETF 19.6 39 -14 12.9 +5.3
SMDY Syntax Stratified MidCap ETF 18.1 30 -5 8.6 +1.0
RNMC Mid Cap US Equity Select ETF 17.6 60 -35 9.4 +1.8
AFMC First Trust Active Factor Mid Cap ETF 17.5 65 -40 9.1 +1.4
DON WisdomTree U.S. MidCap Dividend Fund 17.3 38 -13 10.6 +3.0
VBR Vanguard Small Cap Value Index Fund 15.4 7 18 11.1 +3.5
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 15.3 20 5 9.7 +2.1
RWK Invesco S&P MidCap 400 Revenue ETF 14.9 39 -14 11.1 +3.5
RORE Hartford Multifactor REIT ETF 14.5 45 -20 17.6 +10.0
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 14.5 48 -23 8.4 +0.8
PPTY PPTY-U.S. Diversified Real Estate ETF 14.4 53 -28 7.2 -0.4
SFYX Sofi Next 500 ETF 13.9 0 25 7.6 +0.0
SCHM Schwab U.S. Mid-Cap ETF 13.6 4 21 8.4 +0.8
USRT iShares Core U.S. REIT ETF 13.5 8 17 8.5 +0.9
EQWM Invesco S&P MidCap Quality ETF 13.5 25 0 6.5 -1.1
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 13.3 60 -35 5.7 -1.9
SMDV ProShares Russell 2000 Dividend Growers ETF 13.2 40 -15 7.9 +0.2
FSMD Fidelity Small-Mid Factor ETF 13.1 29 -4 9.3 +1.7
OSCV Opus Small Cap Value Plus ETF 13.0 79 -54 7.4 -0.2
PUI Invesco DWA Utilities Momentum ETF 13.0 60 -35 4.7 -2.9
FRI First Trust S&P REIT Index Fund 12.9 50 -25 8.1 +0.5
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 12.8 11 14 8.4 +0.8
JKL iShares Morningstar Small Cap Value ETF 12.5 30 -5 13.9 +6.3
SCHH Schwab U.S. REIT ETF 12.4 7 18 8.6 +1.0
SDY SPDR S&P Dividend ETF 12.4 35 -10 7.7 +0.1
KIE SPDR S&P Insurance ETF 12.2 35 -10 10.7 +3.1
JHSC John Hancock Multifactor Small Cap ETF 12.2 50 -25 8.1 +0.5
RWR SPDR Dow Jones REIT ETF 12.1 25 0 8.5 +0.9
KLCD KFA Large Cap Quality Dividend Index ETF 12.0 41 -16 6.3 -1.3
VB Vanguard Small-Cap ETF 12.0 5 20 7.5 -0.1
IFRA iShares U.S. Infrastructure ETF 12.0 40 -15 7.3 -0.3
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 11.9 17 8 6.8 -0.8
TMDV ProShares Russell US Dividend Growers ETF 11.9 35 -10 6.3 -1.4
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 11.9 60 -35 8.9 +1.3
JKJ iShares Morningstar Small-Cap ETF 11.8 25 0 8.5 +0.9
NUSC Nuveen ESG Small-Cap ETF 11.7 40 -15 7.0 -0.7
EZM WisdomTree U.S. MidCap Earnings Fund 11.6 38 -13 12.8 +5.2
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 11.2 35 -10 7.1 -0.5
VRAI Virtus Real Asset Income ETF 11.1 55 -30 13.0 +5.4
PSR Invesco Active U.S. Real Estate Fund 11.1 35 -10 6.9 -0.7
RFG Invesco S&P Midcap 400 Pure Growth ETF 11.0 35 -10 5.7 -2.0
FVD First Trust Value Line Dividend Index Fund 10.9 70 -45 7.6 +0.0
FNK First Trust Mid Cap Value AlphaDEX Fund 10.9 70 -45 14.8 +7.2
FNX First Trust Mid Cap Core AlphaDEX Fund 10.8 61 -36 9.5 +1.9
GQRE FlexShares Global Quality Real Estate Index Fund 10.8 45 -20 8.5 +0.9
IYR iShares U.S. Real Estate ETF 10.6 42 -17 7.5 -0.1
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 10.6 24 1 7.9 +0.3
FREL Fidelity MSCI Real Estate Index ETF 10.5 8 17 7.7 +0.1
PMOM Principal Sustainable Momentum Index ETF 10.3 29 -4 6.5 -1.2
PBSM Invesco PureBeta MSCI USA Small Cap ETF 10.2 6 19 7.5 -0.1
GRI ALPS REIT Dividend Dogs ETF 9.9 35 -10 18.1 +10.4
TPLC Timothy Plan US Large Cap Core ETF 9.8 52 -27 6.9 -0.7
ONEV SPDR Russell 1000 Low Volatility Focus ETF 9.8 20 5 8.9 +1.3
LVUS Hartford Multifactor Low Volatility US Equity ETF 9.6 19 6 7.3 -0.3
VXF Vanguard Extended Market Index Fund 9.5 7 18 5.5 -2.1
VNQ Vanguard REIT Index Fund 9.5 12 13 7.6 +0.0
FNY First Trust Mid Cap Growth AlphaDEX Fund 9.4 70 -45 4.2 -3.4
CZA Invesco Zacks Mid-Cap ETF 9.4 76 -51 8.7 +1.1
REET iShares Global REIT ETF 9.3 14 11 8.5 +0.8
FNDA Schwab Fundamental U.S. Small Co. Index ETF 9.2 25 0 9.1 +1.4
FVL First Trust Value Line 100 Exchange-Traded Fund 9.1 70 -45 5.3 -2.3
TPHD Timothy Plan High Dividend Stock ETF 8.9 52 -27 8.9 +1.3
FXO First Trust Financials AlphaDEX Fund 8.8 63 -38 12.7 +5.1
VBK Vanguard Small-Cap Growth Index Fund 8.6 7 18 3.6 -4.0
JMIN JPMorgan U.S. Minimum Volatility ETF 8.6 12 13 6.8 -0.8
QLV FlexShares US Quality Low Volatility Index Fund 8.5 22 3 6.1 -1.5
REZ iShares Residential Real Estate Capped ETF 8.4 48 -23 6.9 -0.7
IUSS Invesco Strategic US Small Company ETF 8.3 23 2 8.5 +0.9
SMMD iShares Russell 2500 ETF 8.2 15 10 7.5 -0.1
VFLQ Vanguard U.S. Liquidity Factor ETF 8.2 13 12 5.1 -2.5
JDIV JPMorgan U.S. Dividend ETF 8.2 12 13 10.2 +2.6
IAK iShares U.S. Insurance ETF 8.2 43 -18 10.9 +3.3
USMF WisdomTree U.S. Multifactor Fund 8.2 28 -3 7.7 +0.1
PEY Invesco High Yield Equity Dividend Achievers ETF 8.1 53 -28 9.4 +1.8
LGLV SPDR Russell 1000 Low Volatility ETF 8.0 12 13 6.6 -1.0
FXZ First Trust Materials AlphaDEX Fund 8.0 65 -40 10.1 +2.5
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 7.9 29 -4 8.7 +1.1
JHMM John Hancock Multifactor Mid Cap ETF 7.8 44 -19 7.7 +0.1
JHMU John Hancock Multifactor Utilities ETF 7.7 40 -15 6.1 -1.6
FFR First Trust FTSE EPRA/NAREIT Developed Markets Real Estate 7.6 60 -35 8.2 +0.6
TPYP Tortoise North American Pipeline Fund 7.6 40 -15 8.4 +0.8
VFMV Vanguard U.S. Minimum Volatility ETF 7.6 13 12 5.8 -1.8
PFI Invesco DWA Financial Momentum ETF 7.5 60 -35 7.5 -0.1
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 7.5 39 -14 8.0 +0.4
VSDA VictoryShares Dividend Accelerator ETF 7.3 35 -10 5.6 -2.1
VPU Vanguard Utilities Index Fund 7.0 10 15 5.8 -1.8

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 MidCap Low Volatility ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.8 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 7.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.72 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.