Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF
ALTAR
Score™
6.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
20.6x P/Sales
ratio
2.1x
P/BV
ratio
3.5x Div.
yield
1.9%


  • 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) $70
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) $116,443
Large cap (>$10bn) 90.5%
Mid cap ($2-10bn) 9.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMAZON.COM INC 1.5 %
EBAY INC 1.5 %
C.H. ROBINSON WORLDWIDE INC 1.2 %
TRACTOR SUPPLY COMPANY 1.2 %
GARMIN LTD 1.2 %
PRAXAIR INC 1.2 %
DANAHER CORP 1.2 %
UNITED PARCEL SERVICE-CL B 1.1 %
ELECTRONIC ARTS INC 1.1 %
BERKSHIRE HATHAWAY INC-CL B 1.1 %
Total 12.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 90.5 %
IRELAND 4.0 %
BRITAIN 3.2 %
SWITZERLAND 2.3 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.6% -5.9% 9.4% -- 9.3%

Market Correlations
versus... Beta R-squared
S&P500 0.94 93%
MSCI EAFE 0.95 82%
MSCI Emg. Mkts. 0.67 64%

Technical Indicators
Recent close $36.02
30d moving avg. $35.84
Annualized volatility 16.6%
Short interest (ETF) 0.0%
Short interest (Underlying) 2.9%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 12
Turnover 0.6%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $78,960

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™: 6.0%


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
(%)
SPLV Invesco S&P 500 Low Volatility ETF 64.5 25 0 5.7 -0.3
DEF Invesco Defensive Equity ETF 46.9 55 -30 5.1 -0.9
HUSV First Trust Horizon Managed Volatility Domestic ETF 42.3 70 -45 4.8 -1.2
FLLV Franklin Liberty U.S. Low Volatility ETF 35.7 29 -4 5.9 -0.1
EQWL Invesco Russell Top 200 Equal Weight ETF 34.5 25 0 6.1 +0.1
LSLT Salt Low truBeta US Market ETF 32.5 29 -4 6.1 +0.1
FTCS First Trust Capital Strength ETF 32.4 58 -33 4.9 -1.1
USMV iShares Edge MSCI Min Vol USA ETF 32.3 15 10 5.6 -0.4
FVL First Trust Value Line 100 Exchange-Traded Fund 32.1 70 -45 5.2 -0.8
RBUS Nationwide Risk-Based U.S. Equity ETF 31.9 30 -5 5.1 -0.9
SPXT ProShares S&P 500 Ex-Technology ETF 31.0 27 -2 5.7 -0.3
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 30.5 60 -35 6.3 +0.3
JQUA JPMorgan U.S. Quality Factor ETF 28.6 12 13 5.3 -0.7
BKLC BNY Mellon US Large Cap Core Equity ETF 28.1 0 25 5.2 -0.8
QUS SPDR MSCI USA StrategicFactors ETF 28.1 15 10 5.9 -0.1
SPXE ProShares S&P 500 Ex-Energy ETF 28.1 27 -2 5.3 -0.7
PBP Invesco S&P 500 BuyWrite ETF 28.0 49 -24 5.0 -1.0
IWL iShares Russell Top 200 ETF 28.0 15 10 5.0 -1.0
MGC Vanguard Mega Cap Index Fund 28.0 7 18 5.2 -0.8
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 27.9 20 5 5.4 -0.6
FLQL Franklin LibertyQ U.S. Equity ETF 27.8 15 10 6.3 +0.3
SPXN ProShares S&P 500 Ex-Financials ETF 27.7 27 -2 5.0 -1.0
HSPX Global X S&P 500 Covered Call ETF 27.7 65 -40 4.9 -1.1
FDLO Fidelity Low Volatility Factor ETF 27.6 29 -4 5.2 -0.8
SPY SPDR S&P 500 ETF Trust 27.6 9 16 5.4 -0.6
IVV iShares Core S&P 500 ETF 27.5 4 21 5.4 -0.6
SPLG SPDR Portfolio Large Cap ETF 27.5 3 22 5.4 -0.6
VOO VANGUARD S&P 500 ETF 27.5 3 22 5.4 -0.6
LGLV SPDR Russell 1000 Low Volatility ETF 27.0 12 13 5.8 -0.2
USDY Pacific Global US Equity Income ETF 26.8 29 -4 7.3 +1.3
IWX iShares Russell Top 200 Value ETF 26.8 20 5 7.2 +1.2
OEF iShares S&P 100 ETF 26.7 20 5 4.8 -1.2
DYNF BlackRock U.S. Equity Factor Rotation ETF 26.7 30 -5 6.6 +0.6
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 26.7 17 8 6.6 +0.6
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 26.5 7 18 5.2 -0.8
VV Vanguard Large-Cap Index Fund 26.5 4 21 5.3 -0.7
BBUS JP Morgan Betabuilders U.S. Equity ETF 26.4 2 23 5.3 -0.7
LVUS Hartford Multifactor Low Volatility US Equity ETF 26.4 19 6 6.1 +0.1
IQSU IQ Candriam ESG US Equity ETF 26.4 9 16 5.1 -0.9
ESGU iShares MSCI USA ESG Optimized ETF 26.4 15 10 5.1 -0.9
FQAL Fidelity Quality Factor ETF 26.3 29 -4 5.5 -0.5
IUS Invesco Strategic US ETF 26.2 19 6 6.7 +0.7
AFLG First Trust Active Factor Large Cap ETF 26.1 55 -30 5.6 -0.4
SPYV SPDR Portfolio S&P 500 Value ETF 26.1 4 21 7.5 +1.5
IVE iShares S&P 500 Value ETF 26.1 18 7 7.3 +1.3
VOOV Vanguard S&P 500 Value ETF 26.1 15 10 7.4 +1.4
PBUS Invesco PureBeta MSCI USA ETF 26.0 4 21 5.3 -0.7
SPTM SPDR Portfolio Total Stock Market ETF 26.0 3 22 5.5 -0.5
SCHX Schwab U.S. Large-Cap ETF 25.9 3 22 5.3 -0.7
RYH Invesco S&P 500 Equal Weight Health Care ETF 25.7 40 -15 6.6 +0.6
MMTM SPDR S&P 1500 Momentum Tilt ETF 25.6 12 13 4.9 -1.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 25.6 9 16 5.6 -0.4
DIVB iShares U.S. Dividend & Buyback ETF 25.6 25 0 6.6 +0.6
SFY SoFi Select 500 ETF 25.6 0 25 5.2 -0.8
VONE Vanguard Russell 1000 ETF 25.4 8 17 5.3 -0.7
SCHK Schwab 1000 Index ETF 25.3 5 20 5.3 -0.7
SNPE Xtrackers S&P 500 ESG ETF 25.3 11 14 5.1 -0.9
IWB iShares Russell 1000 ETF 25.2 15 10 5.2 -0.8
EPS WisdomTree U.S. Earnings 500 Fund 25.2 8 17 6.5 +0.5
IYY iShares Dow Jones U.S. ETF 25.2 20 5 5.2 -0.8
JHML John Hancock Multifactor Large Cap ETF 25.1 29 -4 5.6 -0.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 25.0 25 0 6.6 +0.6
SUSL iShares ESG MSCI USA Leaders ETF 24.9 10 15 5.3 -0.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 24.8 10 15 5.3 -0.7
CLRG IQ Chaikin U.S. Large Cap ETF 24.8 25 0 6.1 +0.1
IUSV iShares Core S&P U.S. Value ETF 24.8 4 21 7.6 +1.6
DSTL Distillate US Fundamental Stability & Value ETF 24.8 39 -14 6.6 +0.6
RGI Invesco S&P 500 Equal Weight Industrials ETF 24.7 40 -15 5.7 -0.3
CATH Global X S&P 500 Catholic Values Custom ETF 24.6 29 -4 5.2 -0.8
SCHV Schwab U.S. Large-Cap Value ETF 24.6 4 21 7.2 +1.2
PRF Invesco FTSE RAFI US 1000 ETF 24.5 39 -14 6.9 +0.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 24.5 29 -4 6.3 +0.3
SCHB Schwab U.S. Broad Market ETF 24.4 3 22 5.3 -0.7
VTHR Vanguard Russell 3000 Index Fund 24.4 10 15 5.1 -0.9
ITOT iShares Core S&P Total U.S. Stock Market ETF 24.4 3 22 5.2 -0.8
ROUS Hartford Multifactor US Equity ETF 24.3 19 6 7.4 +1.4
VTI Vanguard Total Stock Market Index Fund 24.3 3 22 5.2 -0.8
IWV iShares Russell 3000 ETF 24.3 20 5 5.1 -0.9
JKD iShares Morningstar Large-Cap ETF 24.3 20 5 5.7 -0.3
RAFE PIMCO RAFI ESG U.S. ETF 24.2 29 -4 7.8 +1.8
PFM Invesco Dividend Achievers ETF 24.2 54 -29 5.5 -0.5
DLN WisdomTree U.S. LargeCap Dividend Fund 24.2 28 -3 6.4 +0.4
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 24.1 20 5 5.0 -1.0
IWD iShares Russell 1000 Value ETF 24.0 19 6 7.2 +1.2
DSI iShares MSCI KLD 400 Social ETF 24.0 25 0 5.1 -0.9
JMIN JPMorgan U.S. Minimum Volatility ETF 23.9 12 13 5.9 -0.1
KRMA Global X Conscious Companies ETF 23.7 43 -18 5.2 -0.8
DGRO iShares Core Dividend Growth ETF 23.7 8 17 6.7 +0.7
FNDB Schwab Fundamental U.S. Broad Market Index ETF 23.7 25 0 6.6 +0.6
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 23.7 60 -35 3.4 -2.6
RWL Invesco S&P 500 Revenue ETF 23.4 39 -14 7.3 +1.3
FTHI First Trust High Income ETF 23.4 85 -60 5.0 -1.0
DTD WisdomTree U.S.Total Dividend Fund 23.2 28 -3 6.7 +0.7
VYM Vanguard High Dividend Yield Index ETF 23.2 6 19 7.4 +1.4
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 23.1 35 -10 5.4 -0.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 23.1 15 10 6.2 +0.2
JHMH John Hancock Multifactor Healthcare ETF 23.1 40 -15 6.1 +0.1
FTLB First Trust Hedged BuyWrite Income ETF 23.1 85 -60 5.0 -1.0
MGV Vanguard Mega Cap Value ETF 22.8 7 18 7.3 +1.3
EXT WisdomTree U.S. Total Earnings Fund 22.7 28 -3 5.2 -0.8

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 20.3 %
Divided by: Fwd. P/BV 3.3 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.52
 
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.