Invesco S&P MidCap Momentum
ALTAR
Score™
3.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
25.2x P/Sales
ratio
2.3x
P/BV
ratio
3.4x Div.
yield
1.4%


  • 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) $739
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 73
Wgt avg mkt cap (mns) $7,420
Large cap (>$10bn) 16.8%
Mid cap ($2-10bn) 83.2%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FAIR ISAAC CORP 4.3 %
TELEDYNE TECHNOLOGIES INC 3.2 %
CABLE ONE INC 3.2 %
FACTSET RESEARCH SYSTEMS INC 3.1 %
MASIMO CORPORATION 2.7 %
BROWN & BROWN INC 2.6 %
RENAISSANCERE HOLDINGS LTD 2.5 %
WEST PHARMACEUTICAL SERVICES 2.4 %
MEDICAL PROPERTIES TRUST INC 2.3 %
UNIVERSAL DISPLAY CORP 2.2 %
Total 28.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.7 %
BERMUDA 3.3 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
2.3% 22.9% 15.5% -- 13.2%

Market Correlations
versus... Beta R-squared
S&P500 1.15 71%
MSCI EAFE 0.96 41%
MSCI Emg. Mkts. 0.62 30%

Technical Indicators
Recent close $65.10
30d moving avg. $62.95
Annualized volatility 16.7%
Short interest (ETF) 0.4%
Short interest (Underlying) 6.8%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 91
Turnover 0.8%
Bid/Ask (% of price) 0.10%
ADV underlying (mns) $3,140

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P MidCap Momentum 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™: 3.6%


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
(%)
XMLV Invesco S&P MidCap Low Volatility 35.6 25 14 5.5 +1.8
EQWM Invesco Fundamental Pure Mid Core 34.5 25 14 5.1 +1.5
IJK iShares S&P MidCap 400 Growth 33.3 24 15 3.8 +0.1
MDYG SPDR S&P400 Mid Cap Growth 33.3 15 24 3.9 +0.2
IVOG Vanguard S&P Mid-Cap 400 Growth 33.0 20 19 3.8 +0.2
RFG Invesco S&P Midcap 400 Pure Growth 31.6 35 4 1.6 -2.0
REGL ProShares S&P MidCap 400 Dividend Aristocrats 25.0 40 -1 5.4 +1.8
MDY S&P MidCap 400 SPDR 24.2 24 15 5.6 +1.9
IJH iShares Core S&P MidCap 24.2 7 32 5.7 +2.1
SPMD SPDR Portfolio Mid Cap 24.2 5 34 5.7 +2.1
IVOO Vanguard S&P Mid-Cap 400 24.1 15 24 5.7 +2.0
SMDY Syntax Stratified MidCap 22.7 30 9 6.2 +2.6
EWMC Invesco S&P Mid Cap 400 Equal Weight 19.0 40 -1 6.3 +2.6
FNY First Trust Mid Cap Growth AlphaDEX 15.5 70 -31 2.9 -0.7
AFMC First Trust Active Factor Mid Cap 15.0 65 -26 6.8 +3.1
FSMD Fidelity Small-Mid Factor ETF 14.2 29 10 6.3 +2.7
IJJ iShares S&P MidCap 400 Value 14.0 25 14 7.6 +4.0
IVOV Vanguard S&P Mid-Cap 400 Value 14.0 20 19 7.7 +4.1
MDYV SPDR S&P400 Mid Cap Value 14.0 15 24 7.7 +4.1
SMMV iShares Edge MSCI Min Vol USA Small-Cap 14.0 20 19 5.1 +1.4

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

  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

Content on this tab for subscribers only

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
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 13.4 %
Divided by: Fwd. P/BV 3.3 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 3.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 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.