CVY
Invesco Zacks Multi-Asset Income ETF
Invesco Multi-Asset Income Index ETF is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the Zacks Multi-Asset Income Index, which is comprised of 125 to 150 securities with superior risk-return potential selected from a universe of common stocks, ADRs, REITs, MLPs, closed-end funds and preferred stocks by Zacks Inv Research.
US
EQUITY
Passive
MANAGEMENT STYLE
106 bp
EXPENSES
$116.4 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Guggenheim |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 21, 2006 |
| Assets (mns) | $116 |
| Expense ratio | 106 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ALLIANCE RESOURCE PARTNERS | 1.3 % |
| IRON MOUNTAIN INC | 1.2 % |
| SL GREEN REALTY CORP | 1.2 % |
| SYNCHRONY FINANCIAL | 1.1 % |
| EXTRA SPACE STORAGE INC | 1.1 % |
| VIATRIS, INC. | 1.1 % |
| CVS CAREMARK CORP | 1.1 % |
| BANK OF AMERICA CORP | 1.1 % |
| DICK'S SPORTING GOODS INC | 1.1 % |
| WESTERN GAS EQUITY PARTNERS LP | 1.1 % |
Constituent Breakdown
| Number of holdings | 113 |
| Herfindahl-Hirschman Index | 559 |
| Wgt avg mkt cap (mns) | $25,782 |
| Large cap (>$10bn) | 48.1% |
| Mid cap ($2-10bn) | 43.0% |
| Small cap (<$2bn) | 7.7% |
| Developed mkts. | 94.0% |
| Emerging mkts. | 6.0% |
Country Exposure
 |
UNITED STATES | 62.8 % |
 |
BRITAIN | 2.6 % |
 |
CANADA | 2.5 % |
 |
BRAZIL | 1.7 % |
 |
BERMUDA | 1.4 % |
 |
PUERTO RICO | 1.1 % |
 |
COLOMBIA | 0.9 % |
 |
LUXEMBOURG | 0.8 % |
 |
TAIWAN | 0.7 % |
 |
NETHERLANDS | 0.7 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 7.8% | 23.5% | 17.1% | 5.8% | 7.0% | 4.1% | 5.1% | Volatility | 11.7% | 13.2% | 17.5% | 17.1% | 24.5% | 19.5% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.83 | 67% |
| MSCI EAFE | 0.91 | 74% |
| MSCI Emg Mkts | 0.69 | 43% |
Liquidity Measures
| Avg. volume (000) | 6 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.36% |
| ADV of underlying (mns) | $20,383 |
Technical Indicators
| Recent close | $25.84 |
| 30d moving avg. | $25.37 |
| Annualized volatility | 18.4% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 2.5% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. CVY |
Expenses vs. CVY |
ALTAR Score™ vs. CVY |
|---|---|---|---|---|
| FNK | First Trust Mid Cap Value AlphaDEX Fund | 15.3% | -36 bp | -1.0% |
| SDVY | First Trust SMID Cap Rising Dividend Achievers ETF | 14.4% | -46 bp | -2.2% |
| VFVA | Vanguard U.S. Value Factor ETF | 12.8% | -93 bp | -1.1% |
| SYLD | Cambria Shareholder Yield ETF | 12.8% | -47 bp | -0.2% |
| AVUV | Avantis U.S. Small Cap Value ETF | 12.4% | -81 bp | -2.4% |
| ONEY | SPDR Russell 1000 Yield Focus ETF | 12.3% | -86 bp | -1.5% |
| KBE | SPDR S&P Bank ETF | 12.1% | -71 bp | -2.2% |
| NDIV | Amplify Natural Resources Dividend Income ETF | 11.9% | -47 bp | -2.0% |
| VRAI | Virtus Real Asset Income ETF | 11.8% | -51 bp | -3.1% |
| FTDS | First Trust Dividend Strength ETF | 11.6% | -36 bp | -2.6% |
Risk and Returns: CVY vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 | --% |
Based on closing prices from 7/25/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
CVY
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™
CVY
11.4%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 11.4% |
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 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. CVY's ALTAR Score™ is approximately
2.3 standard deviations
above
the category average. This places CVY in the 99th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
CVY
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive US Equity ETFs |
| # of ETFs | 192 |
| Avg. Expense Ratio | 31.0 bp |
| Std. Deviation | 25.7 bp |
| CVY (106 bp) Percentile rank | 99 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| CVY | 106.0 | 35.7 | 141.7 |
| Peer Avg. | 29.8 | 6.8 | 36.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .