CUT

Invesco MSCI Global Timber ETF

Invesco Timber Index ETF is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the performance of the Beacon Global Timber Index, which is comprised of global timber companies.


Passive, Concentrated

MANAGEMENT MATRIX

WOOD

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorGuggenheim
CategoryGlobal Equities
Asset classEquity
Websitelink...
Inception dateNov 09, 2007
Assets (mns)$66
Expense ratio60 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
PACKAGING CORP OF AMERICA 5.2 %
INTERNATIONAL PAPER CO 5.1 %
WEYERHAEUSER CO 5.1 %
UPM-KYMMENE OYJ 4.9 %
AMCOR PLC 4.9 %
AVERY DENNISON CORP 4.8 %
SMURFIT KAPPA GROUP PLC 4.6 %
WESTROCK CO. 4.3 %
MONDI PLC 4.1 %
SVENSKA CELLULOSA AB-B SHS 3.8 %
Constituent Breakdown
Number of holdings66
Herfindahl-Hirschman Index 330
Wgt avg mkt cap (mns)$10,050
Large cap (>$10bn)46.2%
Mid cap ($2-10bn)45.4%
Small cap (<$2bn)6.9%
Developed mkts.90.4%
Emerging mkts.9.6%
Country Exposure
UNITED STATES 41.9 %
BRITAIN 11.6 %
FINLAND 10.9 %
SWEDEN 6.7 %
IRELAND 4.6 %
BRAZIL 4.5 %
CANADA 4.4 %
SWITZERLAND 3.3 %
JAPAN 3.2 %
TAIWAN 1.1 %
Historical Performance


Standardized Annual Returns (as of 01/31/2023)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
7.6% -8.6% 1.4% 8.7% 2.0% 6.4% 4.0%
Market Correlations
versus...BetaR-squared
S&P 5000.9478%
MSCI EAFE0.9984%
MSCI Emg Mkts0.8363%
Liquidity Measures
Avg. volume (000)6
Turnover0.3%
Avg. Bid/Ask (% of price)0.61%
ADV of underlying (mns)$789
Technical Indicators
Recent close$32.84
30d moving avg.$31.26
Annualized volatility22.9%
Relative strength (RSI)60
Short interest (ETF)0.1%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: CUT vs. Comps (1 YR)

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Results & Estimates
  2018 2019 2020 2021 2022 2023E 2024E  
Sales per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2022 2023E Fwd Est 2024E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
1.0 13.1 1.5 3.2% --
Based on closing prices from 2/1/2023
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
CUT



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

CUT

8.2%

Cat. Avg

3.7%

Fund Category: Global Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™8.2%
Recommendation

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.

Category Overview
There are 335 funds in the Global Equities category, with an average ALTAR Score™ of 3.7% and a standard deviation of 4.9%. CUT's ALTAR Score™ is approximately 0.9 standard deviations above the category average. This places CUT in the 82nd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
CUT
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
CUT 60.0 61.4 121.4
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.