Invesco S&P SmallCap Value with Momentum
ALTAR
Score™
8.4% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
13.8x P/Sales
ratio
0.3x
P/BV
ratio
1.1x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco S&P SmallCap Value with Momentum ETF tracks the S&P 600 High Momentum Value Index which holds 120 securities in the S&P SmallCap 600 that have the highest value scores and momentum scores.

FUND BASICS
Category US Equities
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Mar 03, 2005
Assets (mns) $80
Currency USD
Expense ratio 39 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Multi-Factor
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 118
Wgt avg mkt cap (mns) $1,156
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 18.3%
Small cap (<$2bn) 81.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
VITAMIN SHOPPE INC 3.1 %
SONIC AUTOMOTIVE INC-CLASS A 2.3 %
OFFICE DEPOT INC 2.1 %
SPARTANNASH CO 1.9 %
ERA GROUP INC 1.7 %
INTL FCSTONE INC 1.7 %
SENECA FOODS CORP - CL A 1.6 %
GREEN PLAINS RENEWABLE ENERG 1.5 %
GROUP 1 AUTOMOTIVE INC 1.5 %
VERITIV CORP 1.5 %
Total 18.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.6 %
PUERTO RICO 1.3 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
19.1% 4.8% 6.6% -- 10.1%

Market Correlations
versus... Beta R-squared
S&P500 1.11 51%
MSCI EAFE 0.82 23%
MSCI Emg. Mkts. 0.36 7%

Technical Indicators
Recent close $32.52
30d moving avg. $31.42
Annualized volatility 18.9%
Short interest (ETF) 0.0%
Short interest (Underlying) 4.7%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 13
Turnover 0.5%
Bid/Ask (% of price) 0.40%
ADV underlying (mns) $1,149

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Invesco S&P SmallCap Value with Momentum ETF based on the alternatives' overlap in portfolio holdings with XSVM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XSVM Expense: 39 bp ALTAR Score™: 8.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XSVM
Ticker Fund
Name
Overlap1
vs XSVM
(%)
Expense
ratio
(bp)
Savings
vs XSVM
(bp)
ALTAR
Score™
(%)
ALTAR
vs XSVM
(%)
RZV Invesco S&P Smallcap 600 Pure Value 41.7 35 4 8.6 +0.3
RWJ Invesco S&P SmallCap 600 Revenue ETF 32.9 39 0 5.0 -3.4
SLYV SPDR S&P600 Small Cap Value 28.3 15 24 7.5 -0.9
IJS iShares S&P 600 SmallCap Value 28.3 25 14 7.4 -1.0
VIOV Vanguard S&P Small-Cap 600 Value 27.7 20 19 7.3 -1.0
FYT First Trust Small Cap Value AlphaDEX 21.1 76 -37 7.6 -0.8
CALF Pacer US Small Cap Cash Cows 100 20.5 59 -20 11.6 +3.2
EWSC Invesco S&P Small Cap 600 Equal Weight 20.4 40 -1 5.7 -2.6
PSCF Invesco S&P Small Cap Financials 19.7 29 10 8.8 +0.4
SLY SPDR S&P 600 Small Cap 18.4 15 24 6.2 -2.2
IJR iShares Core S&P Small-Cap 18.4 7 32 6.2 -2.2
VIOO Vanguard S&P Small-Cap 600 17.9 15 24 6.0 -2.4
EES WisdomTree SmallCap Earnings 17.5 38 1 9.3 +0.9
PSCD Invesco S&P Small Cap Consumer Discretionary 17.3 29 10 8.2 -0.1
XSLV Invesco S&P SmallCap Low Volatility 16.3 25 14 6.9 -1.5
CSML IQ Chaikin U.S. Small Cap 15.7 35 4 8.1 -0.3
BUY USCF SummerHaven SHPEI Index 15.6 80 -41 11.6 +3.2
ROGS Lattice Global Small Cap Strategy 15.5 39 0 9.3 +1.0
OMFS Oppenheimer Russell 2000 Dynamic Multifactor 14.1 39 0 7.3 -1.1
VAMO Cambria Value & Momentum 14.0 64 -25 6.3 -2.1

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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 Value with Momentum
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 9.0 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 39 bp
Equals: ALTAR Score 8.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.55
 
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.