Invesco S&P MidCap Low Volatility ETF
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
20.8x P/Sales
ratio
2.0x
P/BV
ratio
2.7x Div.
yield
1.9%


  • 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 12, 2013
Assets (mns) $1,792
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 79
Wgt avg mkt cap (mns) $5,860
Large cap (>$10bn) 10.8%
Mid cap ($2-10bn) 83.9%
Small cap (<$2bn) 5.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SILGAN HOLDINGS INC 1.9 %
TOOTSIE ROLL INDS 1.7 %
TORO CO 1.7 %
POST HOLDINGS INC 1.6 %
MASIMO CORPORATION 1.6 %
SENSIENT TECHNOLOGIES CORP 1.6 %
FLOWERS FOODS INC 1.6 %
APTARGROUP INC 1.5 %
CORESITE REALTY CORP 1.5 %
NEWMARKET CORP 1.5 %
Total 16.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.7 %
BERMUDA 1.2 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-21.0% -18.6% 7.4% -- 9.0%

Market Correlations
versus... Beta R-squared
S&P500 0.78 76%
MSCI EAFE 0.81 68%
MSCI Emg. Mkts. 0.56 51%

Technical Indicators
Recent close $43.14
30d moving avg. $42.44
Annualized volatility 15.9%
Short interest (ETF) 0.1%
Short interest (Underlying) 3.7%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 394
Turnover 1.0%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $3,019

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™: 5.5%


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
(%)
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 42.8 80 -55 5.7 +0.2
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 31.2 41 -16 6.1 +0.7
MDYG SPDR S&P 400 Mid Cap Growth ETF 29.3 15 10 4.9 -0.6
IJK iShares S&P Mid-Cap 400 Growth ETF 29.3 24 1 4.8 -0.7
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 28.1 15 10 4.8 -0.7
MDY SPDR S&P Midcap 400 ETF Trust 24.9 23 2 6.2 +0.8
SPMD SPDR Portfolio Mid Cap ETF 24.8 5 20 6.4 +1.0
IJH iShares Core S&P Mid-Cap ETF 24.8 5 20 6.4 +1.0
IVOO Vanguard S&P Mid-Cap 400 ETF 23.9 10 15 6.2 +0.7
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 23.8 48 -23 6.2 +0.8
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 22.4 20 5 4.6 -0.8
XMMO Invesco S&P MidCap Momentum ETF 21.3 34 -9 3.8 -1.7
SMDY Syntax Stratified MidCap ETF 21.0 30 -5 6.6 +1.2
AFMC First Trust Active Factor Mid Cap ETF 20.2 65 -40 6.2 +0.7
EQWM Invesco S&P MidCap Quality ETF 19.8 25 0 6.2 +0.7
EWMC Invesco S&P MidCap 400 Equal Weight ETF 19.2 40 -15 7.2 +1.7
MDYV SPDR S&P 400 Mid Cap Value ETF 18.8 15 10 8.4 +2.9
IJJ iShares S&P Mid-Cap 400 Value ETF 18.8 25 0 8.2 +2.7
IVOV Vanguard S&P Mid-Cap 400 Value ETF 16.8 15 10 8.2 +2.8
RFG Invesco S&P Midcap 400 Pure Growth ETF 16.7 35 -10 3.8 -1.6
RNMC Mid Cap US Equity Select ETF 16.5 60 -35 7.4 +2.0
OSCV Opus Small Cap Value Plus ETF 16.1 79 -54 5.4 -0.1
RWK Invesco S&P MidCap 400 Revenue ETF 14.7 39 -14 7.9 +2.4
DON WisdomTree U.S. MidCap Dividend Fund 14.6 38 -13 7.5 +2.0
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 13.4 7 18 5.1 -0.4
FSMD Fidelity Small-Mid Factor ETF 12.7 29 -4 6.1 +0.7
SFYX Sofi Next 500 ETF 12.7 0 25 5.7 +0.3
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 12.6 63 -38 5.9 +0.4
SCHM Schwab U.S. Mid-Cap ETF 11.9 4 21 5.8 +0.4
EZM WisdomTree U.S. MidCap Earnings Fund 11.9 38 -13 8.6 +3.2
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 11.4 35 -10 5.3 -0.1
FNK First Trust Mid Cap Value AlphaDEX Fund 11.2 70 -45 10.7 +5.2
ONEV SPDR Russell 1000 Low Volatility Focus ETF 10.7 20 5 6.8 +1.3
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 10.7 24 1 5.9 +0.5
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 10.5 30 -5 5.5 +0.0
BUL Pacer US Cash Cows Growth ETF 10.4 60 -35 6.6 +1.2
VBR Vanguard Small Cap Value Index Fund 10.4 7 18 7.9 +2.5
LSAF LeaderShares AlphaFactor US Core Equity ETF 10.1 75 -50 5.8 +0.4
JKJ iShares Morningstar Small-Cap ETF 10.1 25 0 6.3 +0.8
JHSC John Hancock Multifactor Small Cap ETF 10.0 42 -17 5.5 0.0
TPLC Timothy Plan US Large Cap Core ETF 9.9 52 -27 5.2 -0.3
CZA Invesco Zacks Mid-Cap ETF 9.9 69 -44 6.0 +0.5
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 9.7 30 -5 7.4 +1.9
JMIN JPMorgan U.S. Minimum Volatility ETF 9.7 12 13 5.4 -0.0
SDY SPDR S&P Dividend ETF 9.6 35 -10 7.0 +1.5
FNX First Trust Mid Cap Core AlphaDEX Fund 9.5 61 -36 6.3 +0.8
VB Vanguard Small-Cap ETF 9.3 5 20 5.1 -0.3
KLCD KFA Large Cap Quality Dividend Index ETF 9.1 42 -17 5.3 -0.1
VBK Vanguard Small-Cap Growth Index Fund 8.6 7 18 2.2 -3.3
PBSM Invesco PureBeta MSCI USA Small Cap ETF 8.6 6 19 5.0 -0.5
PXMV Invesco S&P MidCap Value with Momentum ETF 8.6 39 -14 9.4 +4.0
VSDA VictoryShares Dividend Accelerator ETF 8.6 35 -10 4.7 -0.8
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 8.6 17 8 4.7 -0.8
FVD First Trust Value Line Dividend Index Fund 8.5 70 -45 6.2 +0.7
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 8.5 20 5 9.1 +3.6
NUSC Nuveen ESG Small-Cap ETF 8.5 40 -15 4.7 -0.8
TMDV ProShares Russell US Dividend Growers ETF 8.5 36 -11 5.6 +0.1
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 8.3 17 8 6.2 +0.7
USMF WisdomTree U.S. Multifactor Fund 8.1 28 -3 5.7 +0.2
SMMD iShares Russell 2500 ETF 8.1 15 10 5.6 +0.1
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 8.1 29 -4 6.7 +1.2
JHMM John Hancock Multifactor Mid Cap ETF 7.9 42 -17 5.4 -0.1
VFMV Vanguard U.S. Minimum Volatility ETF 7.8 13 12 4.3 -1.2
LGLV SPDR Russell 1000 Low Volatility ETF 7.7 12 13 5.5 +0.0
IFRA iShares U.S. Infrastructure ETF 7.2 40 -15 5.5 +0.0
BKSE BNY Mellon US Small Cap Core Equity ETF 7.1 4 21 5.6 +0.1
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 6.9 60 -35 7.8 +2.3
IUSS Invesco Strategic US Small Company ETF 6.9 23 2 5.1 -0.4
PAVE Global X U.S. Infrastructure Development ETF 6.9 47 -22 5.1 -0.3
EQAL Invesco Russell 1000 Equal Weight ETF 6.8 20 5 5.8 +0.3
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 6.8 24 1 6.3 +0.9
VXF Vanguard Extended Market Index Fund 6.8 6 19 3.4 -2.0
ONEO SPDR Russell 1000 Momentum Focus ETF 6.7 20 5 6.2 +0.8
TPHD Timothy Plan High Dividend Stock ETF 6.7 52 -27 7.3 +1.8
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 6.6 29 -4 9.2 +3.8
JKL iShares Morningstar Small Cap Value ETF 6.6 30 -5 9.9 +4.4
STLV iShares Factors US Value Style ETF 6.5 25 0 7.1 +1.7
ROUS Hartford Multifactor US Equity ETF 6.5 19 6 6.3 +0.8
JHMA John Hancock Multifactor Materials ETF 6.5 40 -15 6.0 +0.5
FNY First Trust Mid Cap Growth AlphaDEX Fund 6.4 70 -45 2.0 -3.5
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 6.4 35 -10 5.8 +0.4
VFLQ Vanguard U.S. Liquidity Factor ETF 6.3 14 11 4.1 -1.4
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 6.0 60 -35 8.1 +2.7
PEY Invesco High Yield Equity Dividend Achievers ETF 5.9 52 -27 9.6 +4.2
FRI First Trust S&P REIT Index Fund 5.9 50 -25 7.0 +1.5
VUSE Vident Core US Equity Fund 5.8 48 -23 8.7 +3.3
ETHO Etho Climate Leadership U.S. ETF 5.8 47 -22 4.3 -1.2
USRT iShares Core U.S. REIT ETF 5.8 8 17 7.4 +1.9
FNDA Schwab Fundamental U.S. Small Co. Index ETF 5.8 25 0 7.2 +1.7
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 5.8 11 14 7.4 +1.9
JKG iShares Morningstar Mid-Cap ETF 5.7 25 0 5.2 -0.3
CFA VictoryShares US 500 Volatility Weighted Index ETF 5.7 35 -10 5.6 +0.1
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 5.7 35 -10 5.6 +0.1
PPTY PPTY-U.S. Diversified Real Estate ETF 5.7 49 -24 7.2 +1.8
JKK iShares Morningstar Small-Cap Growth ETF 5.7 30 -5 1.0 -4.5
QLV FlexShares US Quality Low Volatility Index Fund 5.6 22 3 4.7 -0.7
SCHA Schwab U.S. Small-Cap ETF 5.6 4 21 4.6 -0.8
IWS iShares Russell Mid-Cap Value ETF 5.5 24 1 6.8 +1.4
VALQ American Century STOXX U.S. Quality Value ETF 5.5 29 -4 8.7 +3.3
JHMI John Hancock Multifactor Industrials ETF 5.4 40 -15 5.5 +0.0

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 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 14.2 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.51
 
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.