Invesco S&P MidCap Momentum ETF
ALTAR
Score™
5.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
18.8x P/Sales
ratio
1.7x
P/BV
ratio
2.4x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P MidCap Momentum ETF tracks the S&P Midcap 400 Momentum Index which holds 80 securities in the S&P Midcap 400 Index that have the highest momentum scores.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Mar 03, 2005
Assets (mns) $445
Currency USD
Expense ratio 39 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 74
Wgt avg mkt cap (mns) $5,981
Large cap (>$10bn) 10.1%
Mid cap ($2-10bn) 85.4%
Small cap (<$2bn) 4.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CABLE ONE INC 3.9 %
FAIR ISAAC CORP 3.8 %
MASIMO CORPORATION 3.8 %
FACTSET RESEARCH SYSTEMS INC 3.7 %
TELEDYNE TECHNOLOGIES INC 3.4 %
WEST PHARMACEUTICAL SERVICES 3.0 %
BROWN & BROWN INC 2.6 %
RENAISSANCERE HOLDINGS LTD 2.5 %
CIENA CORP 2.4 %
UNIVERSAL DISPLAY CORP 2.1 %
Total 31.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.8 %
BERMUDA 3.2 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-19.4% -12.4% 9.1% -- 9.9%

Market Correlations
versus... Beta R-squared
S&P500 1.16 79%
MSCI EAFE 1.01 59%
MSCI Emg. Mkts. 0.74 46%

Technical Indicators
Recent close $45.90
30d moving avg. $52.12
Annualized volatility 19.8%
Short interest (ETF) 0.1%
Short interest (Underlying) 6.8%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 260
Turnover 2.7%
Bid/Ask (% of price) 0.56%
ADV underlying (mns) $4,224

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XMMO Expense: 39 bp ALTAR Score™: 5.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XMMO
Ticker Fund
Name
Overlap1
vs XMMO
(%)
Expense
ratio
(bp)
Savings
vs XMMO
(bp)
ALTAR
Score™
(%)
ALTAR
vs XMMO
(%)
EQWM Invesco S&P MidCap Quality ETF 37.4 25 14 7.0 +1.6
MDYG SPDR S&P 400 Mid Cap Growth ETF 35.3 15 24 6.9 +1.5
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 35.3 15 24 6.9 +1.5
IJK iShares S&P Mid-Cap 400 Growth ETF 35.2 24 15 6.8 +1.4
XMLV Invesco S&P MidCap Low Volatility ETF 34.0 25 14 8.4 +3.0
RFG Invesco S&P Midcap 400 Pure Growth ETF 33.8 35 4 6.2 +0.8
MDY SPDR S&P Midcap 400 ETF Trust 26.7 23 16 9.1 +3.8
SPMD SPDR Portfolio Mid Cap ETF 26.5 5 34 9.3 +3.9
IJH iShares Core S&P Mid-Cap ETF 26.5 6 33 9.3 +3.9
IVOO Vanguard S&P Mid-Cap 400 ETF 26.4 10 29 9.3 +3.9
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 25.5 40 -1 8.2 +2.8
SMDY Syntax Stratified MidCap ETF 25.4 30 9 9.4 +4.0
EWMC Invesco S&P MidCap 400 Equal Weight ETF 21.2 40 -1 10.0 +4.6
AFMC First Trust Active Factor Mid Cap ETF 17.5 65 -26 10.0 +4.6
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 16.4 20 19 10.5 +5.2
FNY First Trust Mid Cap Growth AlphaDEX Fund 16.4 70 -31 4.7 -0.7
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 15.7 20 19 7.9 +2.5
MDYV SPDR S&P 400 Mid Cap Value ETF 15.4 15 24 12.4 +7.0
IJJ iShares S&P Mid-Cap 400 Value ETF 15.4 25 14 12.3 +6.9
IVOV Vanguard S&P Mid-Cap 400 Value ETF 15.3 15 24 12.5 +7.2
RWK Invesco S&P MidCap 400 Revenue ETF 14.1 39 0 12.0 +6.7
VBK Vanguard Small-Cap Growth Index Fund 13.7 7 32 3.9 -1.5
RNMC Mid Cap US Equity Select ETF 13.5 60 -21 10.3 +4.9
NUSC Nuveen ESG Small-Cap ETF 12.8 40 -1 7.6 +2.3
SFYX Sofi Next 500 ETF 12.7 0 39 8.3 +2.9
FSMD Fidelity Small-Mid Factor ETF 12.6 29 10 10.1 +4.7
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 12.5 39 0 8.9 +3.5
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 12.3 35 4 9.4 +4.0
SCHM Schwab U.S. Mid-Cap ETF 12.2 4 35 9.2 +3.8
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 12.0 35 4 7.9 +2.5
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 11.9 30 9 10.9 +5.5
OSCV Opus Small Cap Value Plus ETF 11.9 79 -40 8.4 +3.0
PMOM Principal Sustainable Momentum Index ETF 11.8 29 10 7.1 +1.7
VB Vanguard Small-Cap ETF 11.8 5 34 8.2 +2.9
FNX First Trust Mid Cap Core AlphaDEX Fund 11.6 61 -22 10.5 +5.1
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 11.5 24 15 11.3 +5.9
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 11.4 17 22 7.4 +2.0
IUSS Invesco Strategic US Small Company ETF 11.2 23 16 9.1 +3.8
QMOM Alpha Architect U.S. Quantitative Momentum ETF 11.2 49 -10 5.1 -0.3
PBSM Invesco PureBeta MSCI USA Small Cap ETF 10.8 6 33 8.1 +2.7
JHSC John Hancock Multifactor Small Cap ETF 10.7 50 -11 8.9 +3.5
FNDA Schwab Fundamental U.S. Small Co. Index ETF 10.4 25 14 9.9 +4.5
PTH Invesco DWA Healthcare Momentum ETF 10.3 60 -21 -3.0 -8.4
PDP Invesco DWA Momentum ETF 10.3 62 -23 3.8 -1.6
DON WisdomTree U.S. MidCap Dividend Fund 10.2 38 1 11.2 +5.8
VBR Vanguard Small Cap Value Index Fund 10.0 7 32 12.3 +6.9
EZM WisdomTree U.S. MidCap Earnings Fund 9.9 38 1 14.2 +8.8
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 9.6 60 -21 6.5 +1.1
USMF WisdomTree U.S. Multifactor Fund 9.5 28 11 8.3 +2.9
JKK iShares Morningstar Small-Cap Growth ETF 9.4 30 9 2.2 -3.2
FVL First Trust Value Line 100 Exchange-Traded Fund 9.2 70 -31 5.6 +0.2
KLCD KFA Large Cap Quality Dividend Index ETF 9.1 41 -2 6.8 +1.4
VXF Vanguard Extended Market Index Fund 9.1 7 32 6.0 +0.6
JKJ iShares Morningstar Small-Cap ETF 9.1 25 14 9.3 +3.9
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 9.0 24 15 8.5 +3.1
KNOW Direxion All Cap Insider Sentiment Shares 8.6 59 -20 7.3 +1.9
TPLC Timothy Plan US Large Cap Core ETF 8.2 52 -13 7.5 +2.1
JKL iShares Morningstar Small Cap Value ETF 8.2 30 9 15.4 +10.0
PEXL Pacer US Export Leaders ETF 8.1 60 -21 9.2 +3.8
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 8.1 48 -9 9.1 +3.7
QGRO American Century STOXX U.S. Quality Growth ETF 8.0 29 10 4.6 -0.8
PSL Invesco DWA Consumer Staples Momentum ETF 8.0 60 -21 4.8 -0.6
JKH iShares Morningstar Mid-Cap Growth ETF 8.0 30 9 3.6 -1.8
VSDA VictoryShares Dividend Accelerator ETF 7.9 35 4 5.9 +0.5
PRN Invesco DWA Industrials Momentum ETF 7.8 60 -21 6.4 +1.0
IFRA iShares U.S. Infrastructure ETF 7.6 40 -1 7.9 +2.6
SCHA Schwab U.S. Small-Cap ETF 7.6 4 35 7.5 +2.1
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 7.3 35 4 7.7 +2.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 7.2 29 10 8.6 +3.2
JHMM John Hancock Multifactor Mid Cap ETF 7.2 44 -5 8.4 +3.1
RORE Hartford Multifactor REIT ETF 7.2 45 -6 20.2 +14.8
VTWG Vanguard Russell 2000 Growth Index Fund 7.2 15 24 1.8 -3.6
IWO iShares Russell 2000 Growth ETF 7.1 24 15 1.6 -3.8
SMMD iShares Russell 2500 ETF 7.1 15 24 8.2 +2.8
FAD First Trust Multi Cap Growth AlphaDEX Fund 7.1 66 -27 4.3 -1.1
QLV FlexShares US Quality Low Volatility Index Fund 6.9 22 17 6.5 +1.1
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 6.6 30 9 8.7 +3.3
PXMV Invesco S&P MidCap Value with Momentum ETF 6.5 39 0 14.2 +8.8
LGLV SPDR Russell 1000 Low Volatility ETF 6.4 12 27 7.1 +1.7
JMIN JPMorgan U.S. Minimum Volatility ETF 6.4 12 27 7.3 +1.9
NUMG Nuveen ESG Mid-Cap Growth ETF 6.3 40 -1 4.6 -0.8
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 6.3 60 -21 10.0 +4.6
IWM iShares Russell 2000 ETF 6.3 19 20 5.6 +0.2
VTWO Vanguard Russell 2000 Index Fund 6.3 10 29 5.8 +0.4
GQRE FlexShares Global Quality Real Estate Index Fund 6.3 45 -6 9.4 +4.1
BOSS Global X Founder-Run Companies ETF 6.2 45 -6 4.9 -0.5
REZ iShares Residential Real Estate Capped ETF 6.2 48 -9 8.0 +2.6
FRI First Trust S&P REIT Index Fund 6.2 50 -11 9.2 +3.8
USRT iShares Core U.S. REIT ETF 6.1 8 31 9.6 +4.3
BBRE JPMorgan BetaBuilders MSCI U.S. REIT ETF 6.1 11 28 9.6 +4.2
PPA Invesco Aerospace & Defense ETF 6.1 59 -20 7.5 +2.1
GRI ALPS REIT Dividend Dogs ETF 6.0 35 4 21.2 +15.8
ONEV SPDR Russell 1000 Low Volatility Focus ETF 6.0 20 19 9.7 +4.3
FXH First Trust Health Care AlphaDEX Fund 5.9 62 -23 6.6 +1.2
PBE Invesco Dynamic Biotechnology & Genome ETF 5.9 57 -18 -1.1 -6.4
KIE SPDR S&P Insurance ETF 5.8 35 4 12.1 +6.7
AFSM First Trust Active Factor Small Cap ETF 5.8 75 -36 9.8 +4.4
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 5.7 20 19 9.0 +3.6
XHE SPDR S&P Health Care Equipment ETF 5.7 35 4 2.7 -2.7
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 5.7 29 10 9.4 +4.0

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 Momentum ETF
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 13.7 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 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.