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.


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6.5%

ALTAR Score™
Trend in ALTAR Score™

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)$112
Expense ratio61 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Smart-betaNo
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
AVERY DENNISON CORP 5.6 %
INTERNATIONAL PAPER CO 5.6 %
WEYERHAEUSER CO 5.2 %
WESTROCK CO. 5.2 %
PACKAGING CORP OF AMERICA 4.9 %
AMCOR PLC 4.9 %
MONDI PLC 4.7 %
UPM-KYMMENE OYJ 4.6 %
SMURFIT KAPPA GROUP PLC 4.4 %
STORA ENSO OYJ-R SHS 3.9 %
Constituent Breakdown
Number of holdings71
Herfindahl-Hirschman Index 332
Wgt avg mkt cap (mns)$11,998
Large cap (>$10bn)57.3%
Mid cap ($2-10bn)35.8%
Small cap (<$2bn)6.3%
Developed mkts.89.7%
Emerging mkts.10.3%
Country Exposure
UNITED STATES 41.7 %
BRITAIN 12.4 %
FINLAND 11.0 %
SWEDEN 6.6 %
BRAZIL 5.1 %
CANADA 4.7 %
IRELAND 4.4 %
JAPAN 3.8 %
SWITZERLAND 2.8 %
TAIWAN 1.4 %
Historical Performance


Standardized Annual Returns (as of 04/30/2021)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
13.8% 67.2% 20.1% 7.6% 12.7% 7.2% 5.4%
Market Correlations
versus...BetaR-squared
S&P 5001.1379%
MSCI EAFE1.1580%
MSCI Emg Mkts0.9873%
Liquidity Measures
Avg. volume (000)20
Turnover0.7%
Avg. Bid/Ask (% of price)0.30%
ADV of underlying (mns)$2,260
Technical Indicators
Recent close$39.37
30d moving avg.$37.48
Annualized volatility23.5%
Relative strength (RSI)75
Short interest (ETF)0.2%
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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Results & Estimates
  2016 2017 2018 2019 2020 2021E 2022E  
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
  2020 2021E Fwd Est 2022E
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 --%
1.3 14.7 1.7 2.4% --
Based on closing prices from 5/5/2021
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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

6.5%

Cat. Avg

3.2%

Fund Category: Global Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™6.5%
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 218 funds in the Global Equities category, with an average ALTAR Score™ of 3.2% and a standard deviation of 3.6%. 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



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Fundamental data for individual fund constituents sourced from FactSet Research Systems.