Invesco S&P SmallCap Low Volatility ETF
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
23.5x P/Sales
ratio
1.8x
P/BV
ratio
1.9x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P SmallCap Low Volatility Portfolio is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the performance of the S&P SmallCap 400 Low Volatility Index.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Feb 12, 2013
Assets (mns) $1,437
Currency USD
Expense ratio 25 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 118
Wgt avg mkt cap (mns) $1,667
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 34.0%
Small cap (<$2bn) 66.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MICROSTRATEGY INC-CL A 1.2 %
PROGRESS SOFTWARE CORP 1.1 %
WD-40 CO 1.1 %
ST JOE CO/THE 1.1 %
WATTS WATER TECHNOLOGIES-A 1.1 %
TECHTARGET 1.1 %
CSG SYSTEMS INTL INC 1.1 %
HEARTLAND EXPRESS INC 1.1 %
SHUTTERSTOCK INC 1.1 %
NATIONAL BEVERAGE CORP 1.0 %
Total 10.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.5 %
PUERTO RICO 1.0 %
BERMUDA 0.8 %
CAYMAN ISLANDS 0.7 %







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.
-33.1% -29.8% 3.1% -- 6.1%

Market Correlations
versus... Beta R-squared
S&P500 0.96 66%
MSCI EAFE 1.04 63%
MSCI Emg. Mkts. 0.75 53%

Technical Indicators
Recent close $34.71
30d moving avg. $34.09
Annualized volatility 20.9%
Short interest (ETF) 0.1%
Short interest (Underlying) 3.8%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 391
Turnover 0.9%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $1,411

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Invesco S&P SmallCap Low Volatility ETF ETF based on the alternatives' overlap in portfolio holdings with XSLV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XSLV Expense: 25 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XSLV
Ticker Fund
Name
Overlap1
vs XSLV
(%)
Expense
ratio
(bp)
Savings
vs XSLV
(bp)
ALTAR
Score™
(%)
ALTAR
vs XSLV
(%)
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 33.3 80 -55 5.7 +0.1
XSHQ Invesco S&P SmallCap Quality ETF 32.5 29 -4 6.6 +1.1
IJT iShares S&P Small-Cap 600 Growth ETF 31.6 25 0 5.4 -0.2
SLYG SPDR S&P 600 Small Cap Growth ETF 31.5 15 10 5.3 -0.3
VIOG Vanguard S&P Small-Cap 600 Growth ETF 30.2 16 9 5.2 -0.3
VIOO Vanguard S&P Small-Cap 600 ETF 26.0 10 15 6.8 +1.3
SPSM SPDR Portfolio Small Cap ETF 25.3 5 20 6.9 +1.4
SLY SPDR S&P 600 Small Cap ETF 25.3 15 10 6.8 +1.3
IJR iShares Core S&P Small Cap ETF 25.3 6 19 6.9 +1.4
SSLY Syntax Stratified SmallCap ETF 20.5 30 -5 6.4 +0.8
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 20.2 35 -10 7.7 +2.2
PXSG Invesco S&P SmallCap Momentum ETF 19.4 39 -14 3.7 -1.9
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 19.3 40 -15 7.1 +1.6
RZG Invesco S&P Smallcap 600 Pure Growth ETF 19.3 35 -10 5.7 +0.2
VIOV Vanguard S&P Small-Cap 600 Value ETF 19.1 15 10 8.7 +3.2
ISMD Inspire Small/Mid Cap Impact ETF 18.6 60 -35 4.8 -0.7
PSCF Invesco S&P SmallCap Financials ETF 18.6 29 -4 11.1 +5.6
IJS iShares S&P Small-cap 600 Value ETF 18.3 25 0 8.8 +3.3
SLYV SPDR S&P 600 Small Cap Value ETF 18.2 15 10 8.7 +3.1
PSCT Invesco S&P SmallCap Information Technology ETF 18.2 29 -4 5.7 +0.2
PSCI Invesco S&P SmallCap Industrials ETF 17.9 29 -4 6.3 +0.7
ROGS Hartford Multifactor Global Small Cap ETF 17.9 34 -9 8.0 +2.4
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 17.4 35 -10 5.8 +0.3
TPSC Timothy Plan US Small Cap Core ETF 17.2 52 -27 7.9 +2.3
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 16.2 35 -10 7.8 +2.3
SMDV ProShares Russell 2000 Dividend Growers ETF 15.8 41 -16 6.5 +1.0
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 14.8 20 5 4.6 -0.9
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 14.8 12 13 7.5 +2.0
RNSC Small Cap US Equity Select ETF 14.4 60 -35 7.0 +1.4
DES WisdomTree U.S. SmallCap Dividend Fund 14.1 38 -13 8.3 +2.8
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 13.4 30 -5 9.0 +3.4
AFSM First Trust Active Factor Small Cap ETF 13.1 75 -50 5.3 -0.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 12.8 29 -4 4.9 -0.6
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 12.2 38 -13 8.3 +2.8
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 11.6 29 -4 0.2 -5.4
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 11.5 30 -5 7.4 +1.9
PSC Principal U.S. Small Cap Index ETF 11.3 38 -13 6.7 +1.2
RWJ Invesco S&P SmallCap 600 Revenue ETF 11.0 39 -14 6.8 +1.3
KSCD KFA Small Cap Quality Dividend Index ETF 10.8 51 -26 5.6 +0.1
FYC First Trust Small Cap Growth AlphaDEX Fund 10.6 70 -45 1.8 -3.7
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 10.4 20 5 4.7 -0.8
PSCH Invesco S&P SmallCap Health Care ETF 10.3 29 -4 2.8 -2.8
FYX First Trust Small Cap Core AlphaDEX Fund 10.2 63 -38 6.0 +0.5
PSCC Invesco S&P SmallCap Consumer Staples ETF 10.0 29 -4 5.3 -0.3
CSML IQ Chaikin U.S. Small Cap ETF 9.6 35 -10 3.8 -1.7
SQLV Legg Mason Small-Cap Quality Value 9.5 62 -37 6.2 +0.7
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 9.3 48 -23 6.2 +0.7
IWO iShares Russell 2000 Growth ETF 9.3 24 1 -0.1 -5.7
FYT First Trust Small Cap Value AlphaDEX Fund 9.2 72 -47 9.4 +3.9
EES WisdomTree SmallCap Earnings Fund 9.0 38 -13 10.0 +4.5
IWM iShares Russell 2000 ETF 8.8 19 6 3.3 -2.3
VTWO Vanguard Russell 2000 Index Fund 8.6 10 15 3.5 -2.0
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 8.4 24 1 6.3 +0.8
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 8.3 35 -10 9.9 +4.4
IWN iShares Russell 2000 Value ETF 8.2 24 1 6.7 +1.2
VTWG Vanguard Russell 2000 Growth Index Fund 8.1 15 10 0.1 -5.5
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 7.9 39 -14 4.5 -1.1
CALF Pacer US Small Cap Cash Cows 100 ETF 7.9 59 -34 8.8 +3.3
FSMD Fidelity Small-Mid Factor ETF 7.4 29 -4 6.1 +0.6
JKJ iShares Morningstar Small-Cap ETF 7.3 25 0 6.3 +0.7
QABA First Trust NASDAQ ABA Community Bank Index Fund 7.1 60 -35 10.3 +4.7
VAMO Cambria Value & Momentum ETF 7.0 63 -38 5.9 +0.4
VFMF Vanguard U.S. Multifactor ETF 7.0 19 6 7.2 +1.7
FNDA Schwab Fundamental U.S. Small Co. Index ETF 6.5 25 0 7.2 +1.7
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 6.5 60 -35 7.8 +2.3
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 6.4 29 -4 5.7 +0.2
SCHA Schwab U.S. Small-Cap ETF 6.3 4 21 4.6 -0.9
VTWV Vanguard Russell 2000 Value Index Fund 5.9 15 10 6.9 +1.3
XSW SPDR S&P Software & Services ETF 5.9 35 -10 4.3 -1.2
VFMV Vanguard U.S. Minimum Volatility ETF 5.9 13 12 4.3 -1.3
JKK iShares Morningstar Small-Cap Growth ETF 5.8 30 -5 1.0 -4.5
BFOR Barron's 400 ETF 5.7 65 -40 6.3 +0.8
PSCU Invesco S&P SmallCap Utilities ETF 5.6 29 -4 2.9 -2.6
TMDV ProShares Russell US Dividend Growers ETF 5.6 36 -11 5.6 +0.1
NUSC Nuveen ESG Small-Cap ETF 5.6 40 -15 4.7 -0.9
VFQY Vanguard U.S. Quality Factor ETF 5.6 13 12 6.3 +0.7
IFRA iShares U.S. Infrastructure ETF 5.5 40 -15 5.5 -0.0
FIW First Trust Water ETF 5.3 55 -30 3.6 -1.9
PHO Invesco Water Resources ETF 5.3 60 -35 3.4 -2.2
JSML Janus Henderson Small Cap Growth Alpha ETF 5.3 30 -5 7.8 +2.3
XSVM Invesco S&P SmallCap Value with Momentum ETF 5.3 39 -14 9.0 +3.5
ROOF IQ US Real Estate Small Cap ETF 5.2 70 -45 11.8 +6.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 5.2 17 8 4.7 -0.8
AVUV Avantis U.S. Small Cap Value ETF 5.1 25 0 7.9 +2.3
TBLU Tortoise Water Fund 5.1 40 -15 4.4 -1.1
PBSM Invesco PureBeta MSCI USA Small Cap ETF 5.1 6 19 5.0 -0.5
CGW Invesco S&P Global Water Index ETF 4.9 59 -34 3.9 -1.6
OSCV Opus Small Cap Value Plus ETF 4.9 79 -54 5.4 -0.2
BKSE BNY Mellon US Small Cap Core Equity ETF 4.8 4 21 5.6 +0.0
IUSS Invesco Strategic US Small Company ETF 4.7 23 2 5.1 -0.5
PSCD Invesco S&P SmallCap Consumer Discretionary ETF 4.7 29 -4 7.5 +2.0
PSCM Invesco S&P SmallCap Materials ETF 4.4 29 -4 8.6 +3.1
SDY SPDR S&P Dividend ETF 4.2 35 -10 7.0 +1.5
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 4.2 30 -5 5.4 -0.1
KRE SPDR S&P Regional Banking ETF 4.1 35 -10 10.4 +4.9
PJP Invesco Dynamic Pharmaceuticals ETF 4.0 56 -31 12.9 +7.4
VBR Vanguard Small Cap Value Index Fund 4.0 7 18 7.9 +2.4
KBWR Invesco KBW Regional Banking ETF 3.8 35 -10 11.1 +5.6
AIRR First Trust RBA American Industrial Renaissance ETF 3.7 70 -45 6.6 +1.1

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 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 10.5 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 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.