Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF
ALTAR
Score™
5.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.1x P/Sales
ratio
2.3x
P/BV
ratio
4.1x Div.
yield
1.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF tracks an index of large-cap US equities, selected for positive price sensitivity to rising interest rates and for low volatility. Stocks are weighted inversely to volatility.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Apr 06, 2015
Assets (mns) $58
Currency USD
Expense ratio 25 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Volatility
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $148,415
Large cap (>$10bn) 93.7%
Mid cap ($2-10bn) 6.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TYLER TECHNOLOGIES INC 1.3 %
BRISTOL-MYERS SQUIBB CO 1.3 %
DANAHER CORP 1.3 %
EXPEDITORS INTL WASH INC 1.2 %
JOHNSON & JOHNSON 1.2 %
CHARTER COMMUNICATIONS, INC. CLASS 1.2 %
SALESFORCE.COM INC 1.2 %
THERMO FISHER SCIENTIFIC INC 1.2 %
STERIS PLC 1.2 %
REPUBLIC SERVICES INC 1.1 %
Total 12.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.9 %
IRELAND 3.0 %
BRITAIN 3.0 %
SWITZERLAND 1.0 %







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.
-5.1% -0.4% 12.1% -- 10.5%

Market Correlations
versus... Beta R-squared
S&P500 0.93 92%
MSCI EAFE 0.97 82%
MSCI Emg. Mkts. 0.70 67%

Technical Indicators
Recent close $38.93
30d moving avg. $38.67
Annualized volatility 17.2%
Short interest (ETF) 0.0%
Short interest (Underlying) 2.9%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.6%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $90,332

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF ETF based on the alternatives' overlap in portfolio holdings with XRLV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XRLV Expense: 25 bp ALTAR Score™: 5.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XRLV
Ticker Fund
Name
Overlap1
vs XRLV
(%)
Expense
ratio
(bp)
Savings
vs XRLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs XRLV
(%)
ALTL Pacer Lunt Large Cap Alternator ETF 58.5 60 -35 5.1 -0.7
SPLV Invesco S&P 500 Low Volatility ETF 58.5 25 0 5.4 -0.3
DEF Invesco Defensive Equity ETF 57.8 55 -30 5.1 -0.7
HUSV First Trust Horizon Managed Volatility Domestic ETF 38.6 70 -45 5.6 -0.1
FLLV Franklin Liberty U.S. Low Volatility ETF 35.8 29 -4 5.4 -0.4
EQWL Invesco Russell Top 200 Equal Weight ETF 33.9 25 0 6.1 +0.4
RBUS Nationwide Risk-Based U.S. Equity ETF 32.7 30 -5 4.5 -1.2
USMV iShares Edge MSCI Min Vol USA ETF 31.8 15 10 5.4 -0.3
AFLG First Trust Active Factor Large Cap ETF 31.4 55 -30 5.3 -0.5
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 31.0 60 -35 3.0 -2.8
FVL First Trust Value Line 100 Exchange-Traded Fund 30.6 70 -45 5.2 -0.6
LSLT Salt Low truBeta US Market ETF 30.3 60 -35 5.7 -0.1
FLQL Franklin LibertyQ U.S. Equity ETF 30.2 15 10 6.0 +0.3
RYH Invesco S&P 500 Equal Weight Health Care ETF 29.7 40 -15 6.8 +1.1
ROUS Hartford Multifactor US Equity ETF 29.5 19 6 6.3 +0.5
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 29.4 60 -35 6.4 +0.6
PBP Invesco S&P 500 BuyWrite ETF 29.2 49 -24 4.8 -0.9
HSPX Global X S&P 500 Covered Call ETF 29.1 60 -35 4.8 -1.0
JQUA JPMorgan U.S. Quality Factor ETF 28.9 12 13 5.2 -0.5
MGC Vanguard Mega Cap Index Fund 28.8 7 18 5.0 -0.8
QUS SPDR MSCI USA StrategicFactors ETF 28.7 15 10 5.7 -0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 28.6 20 5 5.1 -0.6
SPXT ProShares S&P 500 Ex-Technology ETF 28.6 27 -2 5.4 -0.3
IWL iShares Russell Top 200 ETF 28.5 15 10 4.8 -1.0
XYLG Global X S&P 500 Covered Call & Growth ETF 28.5 60 -35 4.8 -0.9
BKLC BNY Mellon US Large Cap Core Equity ETF 28.4 0 25 4.9 -0.8
SPY SPDR S&P 500 ETF Trust 28.3 9 16 5.1 -0.6
SPLG SPDR Portfolio Large Cap ETF 28.3 3 22 5.2 -0.6
IVV iShares Core S&P 500 ETF 28.3 3 22 5.2 -0.6
SPXE ProShares S&P 500 Ex-Energy ETF 28.3 27 -2 5.1 -0.7
JMIN JPMorgan U.S. Minimum Volatility ETF 28.3 12 13 5.4 -0.3
SPXN ProShares S&P 500 Ex-Financials ETF 28.2 27 -2 4.8 -1.0
OEF iShares S&P 100 ETF 28.0 20 5 4.6 -1.1
VOO VANGUARD S&P 500 ETF 28.0 3 22 5.2 -0.5
FTCS First Trust Capital Strength ETF 27.9 58 -33 4.7 -1.0
GBLO Global Beta Low Beta ETF 27.7 29 -4 7.2 +1.5
IQSU IQ Candriam ESG US Equity ETF 27.4 9 16 4.9 -0.9
SCHV Schwab U.S. Large-Cap Value ETF 27.2 4 21 6.7 +0.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 27.0 7 18 5.0 -0.7
FQAL Fidelity Quality Factor ETF 27.0 29 -4 5.3 -0.5
ESGU iShares MSCI USA ESG Optimized ETF 27.0 15 10 4.9 -0.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 26.9 2 23 5.1 -0.7
SFY SoFi Select 500 ETF 26.9 0 25 4.9 -0.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 26.9 9 16 5.4 -0.4
PBUS Invesco PureBeta MSCI USA ETF 26.8 4 21 5.0 -0.7
SPTM SPDR Portfolio Total Stock Market ETF 26.7 3 22 5.3 -0.4
VV Vanguard Large-Cap Index Fund 26.7 4 21 5.0 -0.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 26.4 29 -4 5.8 +0.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 26.4 17 8 6.7 +0.9
SCHX Schwab U.S. Large-Cap ETF 26.3 3 22 5.0 -0.8
EPS WisdomTree U.S. Earnings 500 Fund 26.3 8 17 6.3 +0.5
FDLO Fidelity Low Volatility Factor ETF 26.3 29 -4 5.1 -0.6
EFIV SPDR S&P 500 ESG ETF 26.2 10 15 4.9 -0.8
SNPE Xtrackers S&P 500 ESG ETF 26.2 10 15 4.9 -0.9
PSET Principal Price Setters Index ETF 26.2 15 10 4.8 -1.0
DIVB iShares U.S. Dividend & Buyback ETF 26.2 25 0 6.7 +1.0
NACP Impact Shares NAACP Minority Empowerment ETF 26.0 75 -50 4.7 -1.1
JKD iShares Morningstar Large-Cap ETF 26.0 20 5 5.5 -0.3
SCHK Schwab 1000 Index ETF 25.9 5 20 5.0 -0.7
IWB iShares Russell 1000 ETF 25.9 15 10 4.9 -0.9
IUS Invesco Strategic US ETF 25.8 19 6 6.3 +0.6
CLRG IQ Chaikin U.S. Large Cap ETF 25.7 25 0 5.7 -0.0
IYY iShares Dow Jones U.S. ETF 25.7 20 5 4.9 -0.9
XOUT GraniteShares XOUT U.S. Large Cap ETF 25.6 60 -35 4.0 -1.8
DYNF BlackRock U.S. Equity Factor Rotation ETF 25.6 30 -5 6.4 +0.7
ESGV Vanguard ESG U.S. Stock ETF 25.5 12 13 4.9 -0.9
VONE Vanguard Russell 1000 ETF 25.5 8 17 5.0 -0.8
XLG Invesco S&P 500 Top 50 ETF 25.4 20 5 4.3 -1.4
VOOV Vanguard S&P 500 Value ETF 25.4 10 15 7.2 +1.5
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 25.4 10 15 5.2 -0.6
JHML John Hancock Multifactor Large Cap ETF 25.4 29 -4 5.3 -0.4
SUSL iShares ESG MSCI USA Leaders ETF 25.4 10 15 5.2 -0.6
JHMH John Hancock Multifactor Healthcare ETF 25.4 40 -15 6.1 +0.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 25.3 25 0 6.6 +0.8
DLN WisdomTree U.S. LargeCap Dividend Fund 25.2 28 -3 6.3 +0.6
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 25.2 49 -24 3.9 -1.8
LGLV SPDR Russell 1000 Low Volatility ETF 25.1 12 13 5.5 -0.3
PRF Invesco FTSE RAFI US 1000 ETF 25.0 39 -14 6.7 +0.9
VTHR Vanguard Russell 3000 Index Fund 25.0 10 15 4.8 -1.0
MMTM SPDR S&P 1500 Momentum Tilt ETF 24.9 12 13 4.5 -1.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 24.8 20 5 4.8 -1.0
IWV iShares Russell 3000 ETF 24.8 20 5 4.8 -1.0
SCHB Schwab U.S. Broad Market ETF 24.7 3 22 4.9 -0.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 24.6 3 22 4.9 -0.9
VOOG Vanguard S&P 500 Growth ETF 24.6 10 15 4.1 -1.6
PFM Invesco Dividend Achievers ETF 24.4 53 -28 5.2 -0.5
IWX iShares Russell Top 200 Value ETF 24.4 20 5 6.7 +0.9
USDY Pacific Global US Equity Income ETF 24.4 29 -4 7.0 +1.3
SPYV SPDR Portfolio S&P 500 Value ETF 24.3 4 21 7.2 +1.5
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 24.3 15 10 6.0 +0.2
IVE iShares S&P 500 Value ETF 24.3 18 7 7.1 +1.3
MGV Vanguard Mega Cap Value ETF 24.3 7 18 7.1 +1.4
DTD WisdomTree U.S.Total Dividend Fund 24.2 28 -3 6.6 +0.8
DSI iShares MSCI KLD 400 Social ETF 24.2 25 0 5.0 -0.8
VTI Vanguard Total Stock Market Index Fund 24.1 3 22 4.9 -0.9
FTLB First Trust Hedged BuyWrite Income ETF 24.1 85 -60 4.8 -1.0
FTHI First Trust High Income ETF 24.1 85 -60 4.8 -0.9
QLC FlexShares US Quality Large Cap Index Fund 24.0 32 -7 5.0 -0.7
IVW iShares S&P 500 Growth ETF 24.0 18 7 16.8 +11.0
SPYG SPDR Portfolio S&P 500 Growth ETF 24.0 4 21 4.2 -1.6

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 500 ex-Rate Sensitive 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 22.1 %
Divided by: Fwd. P/BV 3.7 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.