Invesco S&P SmallCap High Dividend Low Volatility ETF
ALTAR
Score™
15.1% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
7.2x P/Sales
ratio
0.7x
P/BV
ratio
0.7x Div.
yield
12.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Invesco S&P SmallCap High Dividend Low Volatility ETF tracks a dividend-yield-weighted index of the 60 least volatile stocks chosen from a list of the 90 highest-yielding US small-cap stocks.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.invesco.com
Inception date Dec 01, 2016
Assets (mns) $13
Currency USD
Expense ratio 30 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Dividend
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 60
Wgt avg mkt cap (mns) $954
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 9.8%
Small cap (<$2bn) 90.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
B&G FOODS INC-CLASS A 5.2 %
CATO CORP-CL A 3.8 %
GOVERNMENT PROPERTIES INCOME 3.6 %
VECTOR GROUP LTD 3.4 %
GLOBAL NET LEASE INC 3.4 %
ARMOUR RESIDENTIAL REIT, INC. 2.9 %
UNIVERSAL CORP/VA 2.8 %
KKR REAL ESTATE FINANCE TRUST INC. 2.8 %
COGENT COMMUNICATIONS HOLDINGS INC 2.8 %
SPOK HOLDINGS, INC. 2.6 %
Total 33.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 100.0 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.5% -7.9% -- -- -1.1%

Market Correlations
versus... Beta R-squared
S&P500 0.90 59%
MSCI EAFE 0.83 45%
MSCI Emg. Mkts. 0.56 30%

Technical Indicators
Recent close $14.29
30d moving avg. $19.06
Annualized volatility 15.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 29

Liquidity measures
Avg. volume (thou.) 11
Turnover 1.2%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $920

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: XSHD Expense: 30 bp ALTAR Score™: 15.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XSHD
Ticker Fund
Name
Overlap1
vs XSHD
(%)
Expense
ratio
(bp)
Savings
vs XSHD
(bp)
ALTAR
Score™
(%)
ALTAR
vs XSHD
(%)
SRET Global X SuperDividend REIT ETF 21.0 59 -29 22.2 +7.0
XSLV Invesco S&P SmallCap Low Volatility ETF 20.5 25 5 10.6 -4.6
MORT VanEck Vectors Mortgage REIT Income ETF 14.5 42 -12 27.4 +12.3
PSCU Invesco S&P SmallCap Utilities ETF 14.3 29 1 3.4 -11.8
XSVM Invesco S&P SmallCap Value with Momentum ETF 14.0 39 -9 14.3 -0.8
SMDV ProShares Russell 2000 Dividend Growers ETF 13.7 40 -10 7.9 -7.3
PSCC Invesco S&P SmallCap Consumer Staples ETF 13.5 29 1 6.3 -8.9
SLYV SPDR S&P 600 Small Cap Value ETF 13.3 15 15 11.5 -3.7
CSB Victory CEMP US Small Cap High Dividend Volatility Wtd Idx E 13.2 35 -5 11.7 -3.5
IJS iShares S&P Small-cap 600 Value ETF 13.2 25 5 11.3 -3.8
ROOF IQ US Real Estate Small Cap ETF 13.1 70 -40 13.3 -1.9
VIOV Vanguard S&P Small-Cap 600 Value ETF 13.0 15 15 11.5 -3.7
DES WisdomTree U.S. SmallCap Dividend Fund 13.0 38 -8 11.7 -3.5
REM iShares Mortgage Real Estate ETF 12.6 48 -18 26.1 +10.9
KBWY Invesco KBW Premium Yield Equity REIT ETF 12.5 35 -5 21.1 +6.0
DIV Global X SuperDividend US ETF 12.4 45 -15 14.3 -0.9
KSCD KFA Small Cap Quality Dividend Index ETF 12.1 51 -21 6.9 -8.2
PXSG Invesco S&P SmallCap Momentum ETF 10.6 39 -9 6.9 -8.3
IJR iShares Core S&P Small Cap ETF 10.4 7 23 9.0 -6.1
RNSC Small Cap US Equity Select ETF 10.3 60 -30 8.9 -6.3
SPSM SPDR Portfolio Small Cap ETF 10.3 5 25 9.1 -6.1
SDIV Global X SuperDividend ETF 10.3 58 -28 23.2 +8.0
SLY SPDR S&P 600 Small Cap ETF 10.3 15 15 8.9 -6.2
VIOO Vanguard S&P Small-Cap 600 ETF 10.2 10 20 9.0 -6.2
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 10.2 40 -10 8.4 -6.8
KBWD Invesco KBW High Dividend Yield Financial ETF 9.9 158 -128 20.3 +5.1
RZV Invesco S&P Smallcap 600 Pure Value ETF 9.2 35 -5 12.6 -2.6
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 9.2 38 -8 12.6 -2.6
CALF Pacer US Small Cap Cash Cows 100 ETF 8.6 59 -29 16.5 +1.4
PSCF Invesco S&P SmallCap Financials ETF 8.4 29 1 13.9 -1.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 8.3 29 1 7.9 -7.3
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 8.2 12 18 9.6 -5.6
PEY Invesco High Yield Equity Dividend Achievers ETF 8.2 53 -23 9.4 -5.7
RWJ Invesco S&P SmallCap 600 Revenue ETF 7.9 39 -9 9.3 -5.8
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 7.8 35 -5 8.5 -6.6
SLYG SPDR S&P 600 Small Cap Growth ETF 7.7 15 15 7.1 -8.1
IJT iShares S&P Small-Cap 600 Growth ETF 7.7 25 5 7.0 -8.2
VIOG Vanguard S&P Small-Cap 600 Growth ETF 7.7 16 14 7.0 -8.1
FYT First Trust Small Cap Value AlphaDEX Fund 7.0 72 -42 12.6 -2.5
PSCM Invesco S&P SmallCap Materials ETF 6.9 29 1 13.5 -1.6
AFSM First Trust Active Factor Small Cap ETF 6.6 75 -45 9.8 -5.4
IFRA iShares U.S. Infrastructure ETF 6.6 40 -10 7.3 -7.8
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 6.5 48 -18 8.4 -6.7
MJ ETFMG Alternative Harvest ETF 6.4 75 -45 -6.3 -21.4
ISMD Inspire Small/Mid Cap Impact ETF 6.3 61 -31 7.1 -8.1
XSHQ Invesco S&P SmallCap Quality ETF 6.2 29 1 7.5 -7.7
PSC Principal U.S. Small Cap Index ETF 6.1 38 -8 10.0 -5.2
ROGS Hartford Multifactor Global Small Cap ETF 5.9 34 -4 11.0 -4.2
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 5.7 20 10 7.3 -7.9
RZG Invesco S&P Smallcap 600 Pure Growth ETF 5.7 35 -5 9.1 -6.1
TMDV ProShares Russell US Dividend Growers ETF 5.6 35 -5 6.3 -8.9
PSCT Invesco S&P SmallCap Information Technology ETF 5.5 29 1 7.2 -7.9
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 5.4 29 1 10.9 -4.3
IWN iShares Russell 2000 Value ETF 5.3 24 6 9.4 -5.7
FYX First Trust Small Cap Core AlphaDEX Fund 5.3 63 -33 8.3 -6.8
VTWV Vanguard Russell 2000 Value Index Fund 5.3 15 15 9.6 -5.5
PSCI Invesco S&P SmallCap Industrials ETF 4.9 29 1 9.2 -6.0
CSA Victory CEMP US Small Cap Volatility Weighted Index ETF 4.8 35 -5 11.0 -4.2
ACT AdvisorShares Vice ETF 4.6 99 -69 7.0 -8.1
VRAI Virtus Real Asset Income ETF 4.6 55 -25 13.0 -2.2
TPSC Timothy Plan US Small Cap Core ETF 4.5 52 -22 10.2 -4.9
FNDA Schwab Fundamental U.S. Small Co. Index ETF 4.4 25 5 9.1 -6.1
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 4.2 39 -9 5.9 -9.2
CSML IQ Chaikin U.S. Small Cap ETF 4.1 35 -5 12.3 -2.8
SQLV Legg Mason Small-Cap Quality Value 4.1 62 -32 10.9 -4.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 4.0 20 10 8.2 -6.9
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 4.0 30 0 9.9 -5.2
FYC First Trust Small Cap Growth AlphaDEX Fund 3.9 70 -40 3.3 -11.8
EES WisdomTree SmallCap Earnings Fund 3.8 38 -8 17.1 +2.0
TPYP Tortoise North American Pipeline Fund 3.7 40 -10 8.4 -6.7
IWM iShares Russell 2000 ETF 3.6 19 11 5.2 -10.0
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 3.6 24 6 10.0 -5.1
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 3.6 39 -9 8.0 -7.1
VTWO Vanguard Russell 2000 Index Fund 3.6 10 20 5.3 -9.8
IUSS Invesco Strategic US Small Company ETF 3.5 23 7 8.5 -6.6
JKJ iShares Morningstar Small-Cap ETF 3.5 25 5 8.5 -6.7
VALX Validea Market Legends ETF 3.4 79 -49 18.0 +2.8
NETL NETLease Corporate Real Estate ETF 3.4 60 -30 9.3 -5.9
SDY SPDR S&P Dividend ETF 3.2 35 -5 7.7 -7.5
VBR Vanguard Small Cap Value Index Fund 3.1 7 23 11.1 -4.0
FDM First Trust Dow Jones Select Microcap Index Fund 2.8 60 -30 11.0 -4.2
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 2.8 29 1 0.0 -15.1
XTL SPDR S&P Telecom ETF 2.8 35 -5 5.8 -9.4
SRVR Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF 2.8 60 -30 4.0 -11.1
SCHA Schwab U.S. Small-Cap ETF 2.7 4 26 6.9 -8.2
VFMV Vanguard U.S. Minimum Volatility ETF 2.7 13 17 5.8 -9.3
JKL iShares Morningstar Small Cap Value ETF 2.6 30 0 13.9 -1.3
QMOM Alpha Architect U.S. Quantitative Momentum ETF 2.6 49 -19 4.5 -10.6
PTF Invesco DWA Technology Momentum ETF 2.5 60 -30 2.7 -12.5
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 2.5 17 13 6.8 -8.3
GRI ALPS REIT Dividend Dogs ETF 2.4 35 -5 18.1 +2.9
RNMC Mid Cap US Equity Select ETF 2.4 60 -30 9.4 -5.7
PSL Invesco DWA Consumer Staples Momentum ETF 2.4 60 -30 5.9 -9.2
RORE Hartford Multifactor REIT ETF 2.3 45 -15 17.6 +2.5
IWO iShares Russell 2000 Growth ETF 2.2 24 6 1.4 -13.7
VTWG Vanguard Russell 2000 Growth Index Fund 2.2 15 15 1.7 -13.5
PBSM Invesco PureBeta MSCI USA Small Cap ETF 2.2 6 24 7.5 -7.7
FSMD Fidelity Small-Mid Factor ETF 2.1 29 1 9.3 -5.9
SCAP AdvisorShares Cornerstone Small Cap ETF 2.1 90 -60 7.2 -7.9
UTES Virtus Reaves Utilities ETF 1.9 49 -19 5.1 -10.0

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 SmallCap High Dividend Low Volatility ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.1 %
Divided by: Fwd. P/BV 0.7 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 15.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.73 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.