IVRA
Invesco Real Assets ESG ETF
IVRA is an actively managed, non-transparent fund of North American real assets companies screened for both environmental, social, and governance (ESG) and fundamental factors.
Fund Basics
| Fund sponsor | Invesco |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 22, 2020 |
| Assets (mns) | $3 |
| Expense ratio | 59 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Non-transparent |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ENBRIDGE INC | 6.0 % |
| EQUINIX INC | 5.5 % |
| TARGA RESOURCES CORP | 4.8 % |
| CHENIERE ENERGY INC | 4.8 % |
| PROLOGIS INC | 4.4 % |
| AMERICAN TOWER CORP-CL A | 4.3 % |
| WILLIAMS COS INC | 4.2 % |
| ESSENTIAL UTILITIES, INC. | 4.1 % |
| KINDER MORGAN INC | 3.9 % |
| PUBLIC STORAGE | 3.5 % |
Constituent Breakdown
| Number of holdings | 42 |
| Herfindahl-Hirschman Index | 361 |
| Wgt avg mkt cap (mns) | $35,369 |
| Large cap (>$10bn) | 72.2% |
| Mid cap ($2-10bn) | 22.6% |
| Small cap (<$2bn) | 5.3% |
| Developed mkts. | 99.4% |
| Emerging mkts. | 0.6% |
Country Exposure
 |
UNITED STATES | 84.8 % |
 |
CANADA | 23.2 % |
 |
MEXICO | 0.6 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 0.6% | 7.7% | -2.7% | -- | -- | -- | 6.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.97 | 76% |
| MSCI EAFE | 1.03 | 79% |
| MSCI Emg Mkts | 0.77 | 47% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.44% |
| ADV of underlying (mns) | $5,491 |
Technical Indicators
| Recent close | $13.54 |
| 30d moving avg. | $13.15 |
| Annualized volatility | 19.9% |
| Relative strength (RSI) | 71 |
| Short interest (ETF) | 0.9% |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. IVRA |
Expenses vs. IVRA |
ALTAR Score™ vs. IVRA |
|---|---|---|---|---|
| DFAR | Dimensional US Real Estate ETF | 35.3% | -40 bp | +0.3% |
| XLRE | Real Estate Select Sector SPDR Fund | 34.8% | -50 bp | -0.1% |
| RSPR | Invesco S&P 500 Equal Weight Real Estate ETF | 34.5% | -19 bp | +0.0% |
| SCHH | Schwab U.S. REIT ETF | 34.2% | -52 bp | +0.6% |
| IYR | iShares U.S. Real Estate ETF | 34.0% | -19 bp | +0.1% |
| FREL | Fidelity MSCI Real Estate Index ETF | 33.4% | -51 bp | +0.2% |
| ICF | iShares Cohen & Steers REIT ETF | 33.2% | -26 bp | -0.1% |
| PSR | Invesco Active U.S. Real Estate Fund | 32.7% | -24 bp | +0.7% |
| VNQ | Vanguard Real Estate ETF | 31.9% | -47 bp | +0.2% |
| AVRE | Avantis Real Estate ETF | 31.8% | -42 bp | -0.5% |
Risk and Returns: IVRA 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 4/25/2024
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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
IVRA
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™
IVRA
7.1%
Cat. Avg
5.8%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.1% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 886 funds in the US Equities category, with an average ALTAR Score™
of 5.8% and a standard deviation of
2.7%. IVRA's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places IVRA in the 68th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
IVRA
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| IVRA | 59.0 | 44.0 | 103 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .