Invesco S&P SmallCap High Dividend Low Volatility ETF
ALTAR
Score™
11.2% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
28.6x P/Sales
ratio
0.9x
P/BV
ratio
0.9x Div.
yield
6.6%


  • 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) $20
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 58
Wgt avg mkt cap (mns) $1,078
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 10.8%
Small cap (<$2bn) 89.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
B&G FOODS INC-CLASS A 7.1 %
GLOBAL NET LEASE INC 3.7 %
VECTOR GROUP LTD 3.2 %
GOVERNMENT PROPERTIES INCOME 3.2 %
PENNYMAC MORTGAGE INVESTMENT 2.7 %
UNIVERSAL CORP/VA 2.6 %
KITE REALTY GROUP TRUST 2.6 %
COGENT COMMUNICATIONS HOLDINGS INC 2.6 %
KKR REAL ESTATE FINANCE TRUST INC. 2.6 %
ARCHROCK INC. 2.5 %
Total 32.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.9 %










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.
-30.6% -25.9% -- -- -7.4%

Market Correlations
versus... Beta R-squared
S&P500 1.20 65%
MSCI EAFE 1.32 68%
MSCI Emg. Mkts. 0.98 59%

Technical Indicators
Recent close $15.92
30d moving avg. $16.57
Annualized volatility 25.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 16
Turnover 1.3%
Bid/Ask (% of price) 0.23%
ADV underlying (mns) $898

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™: 11.2%


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
(%)
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 15.6 35 -5 9.7 -1.5
SRET Global X SuperDividend REIT ETF 15.5 59 -29 14.3 +3.1
XSLV Invesco S&P SmallCap Low Volatility ETF 15.4 25 5 6.1 -5.1
PSCC Invesco S&P SmallCap Consumer Staples ETF 14.2 29 1 5.3 -5.9
DES WisdomTree U.S. SmallCap Dividend Fund 13.1 38 -8 9.0 -2.2
PSCU Invesco S&P SmallCap Utilities ETF 12.7 29 1 3.4 -7.8
REM iShares Mortgage Real Estate ETF 12.5 48 -18 18.4 +7.2
ROOF IQ US Real Estate Small Cap ETF 12.1 70 -40 12.2 +1.0
IJS iShares S&P Small-cap 600 Value ETF 11.8 25 5 9.5 -1.7
SLYV SPDR S&P 600 Small Cap Value ETF 11.8 15 15 9.5 -1.7
VIOV Vanguard S&P Small-Cap 600 Value ETF 11.7 15 15 9.9 -1.3
DIV Global X SuperDividend US ETF 11.6 46 -16 7.2 -4.0
MORT VanEck Vectors Mortgage REIT Income ETF 11.4 42 -12 19.3 +8.1
KSCD KFA Small Cap Quality Dividend Index ETF 11.3 51 -21 6.7 -4.5
SMDV ProShares Russell 2000 Dividend Growers ETF 10.3 40 -10 7.8 -3.4
PXSG Invesco S&P SmallCap Momentum ETF 9.8 39 -9 5.0 -6.2
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 9.7 40 -10 7.1 -4.1
XSVM Invesco S&P SmallCap Value with Momentum ETF 9.6 39 -9 12.0 +0.8
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 9.5 12 18 8.1 -3.1
SLY SPDR S&P 600 Small Cap ETF 9.1 15 15 7.2 -4.0
SPSM SPDR Portfolio Small Cap ETF 9.1 5 25 7.3 -3.9
IJR iShares Core S&P Small Cap ETF 9.1 7 23 7.2 -4.0
KBWY Invesco KBW Premium Yield Equity REIT ETF 9.1 35 -5 16.5 +5.3
VIOO Vanguard S&P Small-Cap 600 ETF 8.7 10 20 7.3 -3.9
PSCF Invesco S&P SmallCap Financials ETF 8.5 29 1 11.9 +0.7
RNSC Small Cap US Equity Select ETF 8.4 60 -30 7.9 -3.3
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 8.1 38 -8 9.2 -2.0
RZV Invesco S&P Smallcap 600 Pure Value ETF 7.6 35 -5 10.4 -0.8
SSLY Syntax Stratified SmallCap ETF 7.6 30 0 6.3 -4.9
PSCM Invesco S&P SmallCap Materials ETF 7.6 29 1 10.0 -1.2
KBWD Invesco KBW High Dividend Yield Financial ETF 7.5 158 -128 16.4 +5.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 7.3 29 1 5.7 -5.5
SDIV Global X SuperDividend ETF 7.1 59 -29 13.5 +2.3
RWJ Invesco S&P SmallCap 600 Revenue ETF 7.1 39 -9 7.9 -3.3
SLYG SPDR S&P 600 Small Cap Growth ETF 6.7 15 15 5.3 -5.9
IJT iShares S&P Small-Cap 600 Growth ETF 6.7 25 5 5.2 -6.0
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 6.7 35 -5 6.5 -4.7
VIOG Vanguard S&P Small-Cap 600 Growth ETF 6.5 16 14 5.3 -5.9
MJ ETFMG Alternative Harvest ETF 6.4 75 -45 -4.9 -16.1
ROGS Hartford Multifactor Global Small Cap ETF 6.3 34 -4 8.1 -3.1
PSCT Invesco S&P SmallCap Information Technology ETF 6.3 29 1 5.7 -5.6
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 6.3 80 -50 5.7 -5.5
XSHQ Invesco S&P SmallCap Quality ETF 6.2 29 1 6.8 -4.4
IFRA iShares U.S. Infrastructure ETF 6.0 40 -10 6.2 -5.1
CSML IQ Chaikin U.S. Small Cap ETF 5.8 35 -5 4.3 -6.9
CALF Pacer US Small Cap Cash Cows 100 ETF 5.7 59 -29 13.5 +2.3
AFSM First Trust Active Factor Small Cap ETF 5.4 75 -45 5.7 -5.5
PSC Principal U.S. Small Cap Index ETF 5.4 38 -8 7.2 -4.0
ISMD Inspire Small/Mid Cap Impact ETF 5.4 60 -30 6.6 -4.6
TMDV ProShares Russell US Dividend Growers ETF 5.4 35 -5 5.4 -5.8
PEY Invesco High Yield Equity Dividend Achievers ETF 5.2 53 -23 9.3 -1.9
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 5.1 29 1 10.0 -1.2
VTWV Vanguard Russell 2000 Value Index Fund 5.0 15 15 7.6 -3.6
RZG Invesco S&P Smallcap 600 Pure Growth ETF 4.9 35 -5 6.0 -5.2
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 4.9 35 -5 8.5 -2.7
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 4.8 24 6 7.3 -3.9
IWN iShares Russell 2000 Value ETF 4.5 24 6 7.5 -3.7
PSCI Invesco S&P SmallCap Industrials ETF 4.3 29 1 6.7 -4.5
SQLV Legg Mason Small-Cap Quality Value 4.3 62 -32 8.0 -3.2
FNDA Schwab Fundamental U.S. Small Co. Index ETF 4.1 25 5 6.9 -4.4
FDM First Trust Dow Jones Select Microcap Index Fund 4.0 60 -30 7.5 -3.7
TPSC Timothy Plan US Small Cap Core ETF 4.0 52 -22 8.5 -2.7
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 3.9 20 10 4.8 -6.4
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 3.8 39 -9 4.3 -7.0
ACT AdvisorShares Vice ETF 3.8 99 -69 5.5 -5.7
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 3.8 35 -5 8.4 -2.8
PFI Invesco DWA Financial Momentum ETF 3.7 60 -30 3.6 -7.6
NETL NETLease Corporate Real Estate ETF 3.7 60 -30 8.5 -2.7
FYT First Trust Small Cap Value AlphaDEX Fund 3.7 72 -42 9.7 -1.5
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 3.6 20 10 6.1 -5.1
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 3.6 60 -30 8.7 -2.5
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 3.5 30 0 7.9 -3.3
EES WisdomTree SmallCap Earnings Fund 3.4 38 -8 11.9 +0.7
FYX First Trust Small Cap Core AlphaDEX Fund 3.4 63 -33 6.7 -4.5
FYC First Trust Small Cap Growth AlphaDEX Fund 3.3 70 -40 2.5 -8.7
IWM iShares Russell 2000 ETF 3.3 19 11 3.7 -7.5
SDY SPDR S&P Dividend ETF 3.2 35 -5 7.1 -4.1
IUSS Invesco Strategic US Small Company ETF 3.2 23 7 5.6 -5.6
VTWO Vanguard Russell 2000 Index Fund 3.0 10 20 3.7 -7.5
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 3.0 39 -9 8.0 -3.2
TPYP Tortoise North American Pipeline Fund 3.0 40 -10 6.2 -5.0
VRAI Virtus Real Asset Income ETF 2.8 55 -25 11.5 +0.3
VBR Vanguard Small Cap Value Index Fund 2.7 7 23 8.6 -2.6
PSCH Invesco S&P SmallCap Health Care ETF 2.7 29 1 3.0 -8.2
XTL SPDR S&P Telecom ETF 2.6 35 -5 4.1 -7.1
SRVR Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF 2.6 60 -30 2.5 -8.7
GRI ALPS REIT Dividend Dogs ETF 2.5 35 -5 17.4 +6.2
GERM ETFMG Treatments Testing and Advancements ETF 2.5 68 -38 -2.9 -14.1
MLPX Global X MLP & Energy Infrastructure ETF 2.5 45 -15 4.0 -7.3
IEZ iShares U.S. Oil Equipment & Services ETF 2.5 42 -12 0.7 -10.5
PXJ Invesco Dynamic Oil & Gas Services ETF 2.5 63 -33 -0.1 -11.3
XES SPDR S&P Oil & Gas Equipment & Services ETF 2.5 35 -5 -2.3 -13.5
PSCE Invesco S&P SmallCap Energy ETF 2.5 29 1 -2.3 -13.5
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 2.4 29 1 1.8 -9.4
SCHA Schwab U.S. Small-Cap ETF 2.3 4 26 4.7 -6.5
XSW SPDR S&P Software & Services ETF 2.3 35 -5 4.0 -7.2
PSL Invesco DWA Consumer Staples Momentum ETF 2.2 60 -30 4.0 -7.2
FSMD Fidelity Small-Mid Factor ETF 2.1 29 1 7.1 -4.1
JKJ iShares Morningstar Small-Cap ETF 2.1 25 5 6.8 -4.4
FVD First Trust Value Line Dividend Index Fund 2.1 70 -40 6.5 -4.8

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 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 9.6 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 11.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.71 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.