GRPM
Invesco S&P MidCap 400 GARP ETF
Invesco S&P Mid Cap 400 Equal Weight ETF is an exchange-traded fund incorporated in the USA. The Fund's investment objective is to correspond as closely as possible, before fees and expenses, to the price and yield performance of the S&P Mid Cap 400 Equal Weight Index.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
536.1 M
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | Security Investors LLC |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 03, 2010 |
| Assets (mns) | $536 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| LANTHEUS HOLDINGS INC | 4.2 % |
| ROIVANT SCIENCES LTD. | 3.0 % |
| KINSALE CAPITAL GROUP, INC. | 2.5 % |
| AAON INC | 2.4 % |
| HANCOCK HOLDING CO | 2.3 % |
| AUTONATION INC | 2.2 % |
| TEXAS ROADHOUSE INC | 2.2 % |
| BOYD GAMING CORP | 2.2 % |
| CNX RESOURCES CORPORATION | 2.0 % |
| CROCS INC | 2.0 % |
Constituent Breakdown
| Number of holdings | 59 |
| Herfindahl-Hirschman Index | 183 |
| Wgt avg mkt cap (mns) | $8,784 |
| Large cap (>$10bn) | 30.6% |
| Mid cap ($2-10bn) | 67.7% |
| Small cap (<$2bn) | 1.8% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 92.5 % |
 |
BRITAIN | 3.0 % |
 |
BERMUDA | 1.8 % |
 |
CANADA | 1.2 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 19.9% | -- | 31.6% | 13.6% | 16.4% | 11.3% | 12.4% | Volatility | 16.7% | 17.6% | 20.7% | 20.7% | 26.3% | 21.3% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.08 | 74% |
| MSCI EAFE | 1.07 | 71% |
| MSCI Emg Mkts | 0.78 | 35% |
Liquidity Measures
| Avg. volume (000) | 28 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.31% |
| ADV of underlying (mns) | $4,249 |
Technical Indicators
| Recent close | $115.06 |
| 30d moving avg. | $114.08 |
| Annualized volatility | 22.7% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.3% |
| Short interest (underlying) | 5.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. GRPM |
Expenses vs. GRPM |
ALTAR Score™ vs. GRPM |
|---|---|---|---|---|
| RFG | Invesco S&P Midcap 400 Pure Growth ETF | 37.8% | 0 bp | -3.8% |
| XMHQ | Invesco S&P MidCap Quality ETF | 35.4% | -10 bp | -2.7% |
| XMVM | Invesco S&P MidCap Value with Momentum ETF | 33.2% | +4 bp | +0.9% |
| IJK | iShares S&P Mid-Cap 400 Growth ETF | 22.4% | -18 bp | -3.5% |
| BUL | Pacer US Cash Cows Growth ETF | 21.9% | +25 bp | -1.5% |
| IVOG | Vanguard S&P Mid-Cap 400 Growth ETF | 21.8% | -20 bp | -3.6% |
| MDYG | SPDR S&P 400 Mid Cap Growth ETF | 21.7% | -20 bp | -3.5% |
| RWK | Invesco S&P MidCap 400 Revenue ETF | 20.4% | +4 bp | -2.3% |
| AFMC | First Trust Active Factor Mid Cap ETF | 18.6% | +30 bp | -2.4% |
| QVMM | Invesco S&P MidCap 400 QVM Multi-factor ETF | 17.7% | -20 bp | -2.7% |
Risk and Returns: GRPM 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 10/23/2024
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
GRPM
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 Rating
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™
GRPM
9.6%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 934 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.5%. GRPM's ALTAR Score™ is approximately
1.6 standard deviations
above
the category average. This places GRPM in the 95th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
GRPMSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| GRPM (35 bp) Percentile rank | 36 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| GRPM | 35.0 | 30.7 | 65.7 |
| Peer Avg. | 37.8 | 15.4 | 53.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .