Invesco S&P MidCap Momentum ETF
ALTAR
Score™
3.4% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
34.0x P/Sales
ratio
2.8x
P/BV
ratio
6.1x Div.
yield
0.5%


  • 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) $936
Currency USD
Expense ratio 34 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 76
Wgt avg mkt cap (mns) $10,474
Large cap (>$10bn) 47.1%
Mid cap ($2-10bn) 52.7%
Small cap (<$2bn) 0.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GENERAC HOLDINGS INC 4.4 %
SOLAREDGE TECHNOLOGIES, INC. 3.9 %
MONOLITHIC POWER SYSTEMS INC 3.5 %
COGNEX CORP 2.4 %
MASIMO CORPORATION 2.4 %
CHARLES RIVER LABORATORIES 2.4 %
BOSTON BEER COMPANY INC-CL A 2.2 %
BIO-TECHNE CORPORATION 2.2 %
QUIDEL CORP 2.1 %
CABLE ONE INC 2.1 %
Total 27.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.2 %
BERMUDA 0.7 %









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.
29.1% 29.1% 21.6% -- 14.6%

Market Correlations
versus... Beta R-squared
S&P500 1.01 75%
MSCI EAFE 0.89 57%
MSCI Emg. Mkts. 0.74 51%

Technical Indicators
Recent close $84.60
30d moving avg. $79.08
Annualized volatility 21.9%
Short interest (ETF) 0.3%
Short interest (Underlying) 6.8%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 68
Turnover 0.6%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $7,468

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: 34 bp ALTAR Score™: 3.4%


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
(%)
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF 55.0 60 -26 3.6 +0.2
RFG Invesco S&P Midcap 400 Pure Growth ETF 49.1 35 -1 3.3 -0.1
MDYG SPDR S&P 400 Mid Cap Growth ETF 47.4 15 19 3.7 +0.3
IJK iShares S&P Mid-Cap 400 Growth ETF 47.4 17 17 3.7 +0.3
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 34.6 15 19 4.2 +0.8
XMHQ Invesco S&P MidCap Quality ETF 30.9 25 9 5.3 +2.0
XJH iShares ESG Screened S&P Mid-Cap ETF 29.8 12 22 5.4 +2.0
MDY SPDR S&P Midcap 400 ETF Trust 29.1 23 11 5.1 +1.7
SPMD SPDR Portfolio Mid Cap ETF 29.0 5 29 5.3 +1.9
IJH iShares Core S&P Mid-Cap ETF 29.0 5 29 5.3 +1.9
IVOO Vanguard S&P Mid-Cap 400 ETF 28.0 10 24 5.3 +1.9
SMDY Syntax Stratified MidCap ETF 25.6 30 4 5.1 +1.7
BUL Pacer US Cash Cows Growth ETF 24.7 60 -26 4.3 +0.9
XMLV Invesco S&P MidCap Low Volatility ETF 22.4 25 9 5.1 +1.7
AFMC First Trust Active Factor Mid Cap ETF 22.0 65 -31 5.2 +1.8
FNY First Trust Mid Cap Growth AlphaDEX Fund 20.0 70 -36 1.6 -1.8
EWMC Invesco S&P MidCap 400 Equal Weight ETF 19.6 40 -6 5.6 +2.2
SFYX Sofi Next 500 ETF 17.7 0 34 4.8 +1.4
RWK Invesco S&P MidCap 400 Revenue ETF 17.2 39 -5 6.3 +3.0
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 16.4 7 27 3.9 +0.5
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 15.8 80 -46 4.7 +1.3
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 15.5 30 4 6.0 +2.6
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 15.5 30 4 4.9 +1.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 13.9 15 19 6.7 +3.3
VBK Vanguard Small-Cap Growth Index Fund 13.9 7 27 1.9 -1.5
SCHM Schwab U.S. Mid-Cap ETF 13.5 4 30 5.0 +1.6
FSMD Fidelity Small-Mid Factor ETF 13.0 29 5 5.3 +1.9
QMOM Alpha Architect U.S. Quantitative Momentum ETF 12.7 49 -15 -0.6 -4.0
SIXL 6 Meridian Low Beta Equity Strategy ETF 12.2 84 -50 4.1 +0.7
FFTY Innovator IBD 50 ETF 12.2 80 -46 4.0 +0.6
BFTR Future Innovators ETF 11.9 80 -46 -1.5 -4.9
JKH iShares Morningstar Mid-Cap Growth ETF 11.6 30 4 1.9 -1.5
FNX First Trust Mid Cap Core AlphaDEX Fund 11.6 61 -27 5.1 +1.7
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 11.5 24 10 4.9 +1.5
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 11.4 103 -69 1.7 -1.7
AFSM First Trust Active Factor Small Cap ETF 11.3 77 -43 4.3 +1.0
FXH First Trust Health Care AlphaDEX Fund 11.1 62 -28 4.6 +1.2
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 11.0 63 -29 5.1 +1.7
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 11.0 20 14 3.7 +0.3
PEXL Pacer US Export Leaders ETF 10.9 60 -26 4.6 +1.2
XMVM Invesco S&P MidCap Value with Momentum ETF 10.8 39 -5 8.0 +4.6
VB Vanguard Small-Cap ETF 10.7 5 29 4.4 +1.0
QVAL Alpha Architect U.S. Quantitative Value ETF 10.7 49 -15 7.9 +4.5
JHSC John Hancock Multifactor Small Cap ETF 10.4 42 -8 4.5 +1.2
NUMG Nuveen ESG Mid-Cap Growth ETF 10.4 40 -6 2.0 -1.4
MDYV SPDR S&P 400 Mid Cap Value ETF 10.1 15 19 6.9 +3.6
IJJ iShares S&P Mid-Cap 400 Value ETF 10.1 18 16 6.9 +3.5
NUSC Nuveen ESG Small-Cap ETF 9.9 40 -6 4.0 +0.6
PDP Invesco DWA Momentum ETF 9.7 62 -28 1.8 -1.6
QGRO American Century STOXX U.S. Quality Growth ETF 9.6 29 5 3.7 +0.3
QQQJ Invesco NASDAQ Next Gen 100 ETF 9.6 15 19 2.5 -0.9
EZM WisdomTree U.S. MidCap Earnings Fund 9.4 38 -4 7.6 +4.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 9.4 17 17 4.0 +0.6
USMF WisdomTree U.S. Multifactor Fund 9.3 28 6 5.4 +2.0
JKK iShares Morningstar Small-Cap Growth ETF 9.2 30 4 0.6 -2.8
PBSM Invesco PureBeta MSCI USA Small Cap ETF 9.2 6 28 4.0 +0.6
BFOR Barron's 400 ETF 8.9 65 -31 5.6 +2.2
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 8.8 24 10 5.4 +2.0
IWO iShares Russell 2000 Growth ETF 8.7 24 10 -0.1 -3.5
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 8.7 30 4 5.3 +2.0
TPLC Timothy Plan US Large Cap Core ETF 8.7 52 -18 4.4 +1.0
JHMM John Hancock Multifactor Mid Cap ETF 8.6 42 -8 4.7 +1.3
VBR Vanguard Small Cap Value Index Fund 8.5 7 27 6.4 +3.0
FAD First Trust Multi Cap Growth AlphaDEX Fund 8.5 66 -32 1.8 -1.6
IWP iShares Russell Mid-Cap Growth ETF 8.5 24 10 2.6 -0.8
OSCV Opus Small Cap Value Plus ETF 8.4 79 -45 4.5 +1.1
JKJ iShares Morningstar Small-Cap ETF 8.4 25 9 5.1 +1.7
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 8.3 29 5 7.2 +3.8
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 8.3 35 -1 5.1 +1.7
DVLU First Trust Dorsey Wright Momentum & Value ETF 8.1 60 -26 8.6 +5.2
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 8.0 41 -7 5.4 +2.0
VUSE Vident Core US Equity Fund 7.9 48 -14 7.3 +3.9
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 7.9 35 -1 4.9 +1.5
SCHA Schwab U.S. Small-Cap ETF 7.8 4 30 3.6 +0.2
VTWG Vanguard Russell 2000 Growth Index Fund 7.8 15 19 0.1 -3.3
VXF Vanguard Extended Market Index Fund 7.6 6 28 2.5 -0.9
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 7.6 48 -14 5.5 +2.2
SMMD iShares Russell 2500 ETF 7.5 15 19 4.7 +1.3
STMB iShares Factors US Mid Blend Style ETF 7.5 30 4 4.9 +1.5
IUSS Invesco Strategic US Small Company ETF 7.3 23 11 3.7 +0.3
BMED BlackRock Future Health ETF 7.3 85 -51 -0.9 -4.3
VFMF Vanguard U.S. Multifactor ETF 7.3 19 15 6.1 +2.7
DON WisdomTree U.S. MidCap Dividend Fund 7.2 38 -4 6.7 +3.3
XHB SPDR S&P Homebuilders ETF 7.0 35 -1 6.9 +3.5
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 7.0 60 -26 6.5 +3.1
BKSE BNY Mellon US Small Cap Core Equity ETF 6.9 4 30 4.7 +1.3
PBE Invesco Dynamic Biotechnology & Genome ETF 6.9 58 -24 -1.6 -5.0
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF 6.9 69 -35 4.0 +0.6
BOUT Innovator IBD Breakout Opportunities ETF 6.9 84 -50 2.5 -0.9
MFMS Motley Fool Small-Cap Growth ETF 6.8 85 -51 0.5 -2.9
LEAD Reality Shares DIVCON Leaders Dividend ETF 6.8 43 -9 4.8 +1.4
FNDA Schwab Fundamental U.S. Small Co. Index ETF 6.8 25 9 4.8 +1.4
XHS SPDR S&P Health Care Services ETF 6.7 35 -1 3.6 +0.2
ONEO SPDR Russell 1000 Momentum Focus ETF 6.7 20 14 5.6 +2.2
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 6.6 35 -1 5.0 +1.6
CFA VictoryShares US 500 Volatility Weighted Index ETF 6.6 35 -1 5.0 +1.6
ROUS Hartford Multifactor US Equity ETF 6.4 19 15 5.8 +2.5
VFMO Vanguard U.S. Momentum Factor ETF 6.4 13 21 1.4 -2.0
BOSS Global X Founder-Run Companies ETF 6.4 45 -11 2.7 -0.7
RNMC Mid Cap US Equity Select ETF 6.4 60 -26 6.0 +2.7

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 19.1 %
Divided by: Fwd. P/BV 5.1 x
Less: Expense ratio 34 bp
Equals: ALTAR Score 3.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.50 CATEGORY
AVERAGE
1.49
 
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.