SPVM
Invesco S&P 500 Value with Momentum ETF
SPVM tracks an index of S&P 500 stocks selected by value and momentum and weighted by value.
Fund Basics
| Fund sponsor | Invesco |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 16, 2011 |
| Assets (mns) | $37 |
| Expense ratio | 39 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Fundamental |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| MARATHON PETROLEUM | 2.8 % |
| VALERO ENERGY CORP | 2.7 % |
| PHILLIPS 66 | 2.6 % |
| EQT CORP | 1.7 % |
| FORD MOTOR CO | 1.6 % |
| STEEL DYNAMICS INC | 1.6 % |
| MARATHON OIL CORP | 1.6 % |
| CIGNA CORPORATION | 1.5 % |
| NUCOR CORP | 1.5 % |
| COTERRA ENERGY INC. | 1.5 % |
Constituent Breakdown
| Number of holdings | 100 |
| Herfindahl-Hirschman Index | 118 |
| Wgt avg mkt cap (mns) | $58,066 |
| Large cap (>$10bn) | 95.2% |
| Mid cap ($2-10bn) | 4.9% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.9 % |
 |
BERMUDA | 1.8 % |
 |
BRITAIN | 1.2 % |
 |
SWITZERLAND | 1.0 % |
Historical Performance
Standardized Annual Returns (as of 09/30/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -2.0% | 10.1% | 1.5% | 13.1% | 6.5% | 8.8% | 9.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.89 | 69% |
| MSCI EAFE | 0.87 | 68% |
| MSCI Emg Mkts | 0.59 | 30% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.09% |
| ADV of underlying (mns) | $19,923 |
Technical Indicators
| Recent close | $46.69 |
| 30d moving avg. | $48.37 |
| Annualized volatility | 19.4% |
| Relative strength (RSI) | 45 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 2.4% |
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. SPVM |
Expenses vs. SPVM |
ALTAR Score™ vs. SPVM |
|---|---|---|---|---|
| SPVU | Invesco S&P 500 Enhanced Value ETF | 39.7% | -26 bp | +2.0% |
| SPGP | Invesco S&P 500 GARP ETF | 38.7% | -3 bp | -0.3% |
| ULVM | VictoryShares USAA MSCI USA Value Momentum ETF | 36.3% | -19 bp | -1.3% |
| FTA | First Trust Large Cap Value AlphaDEX Fund | 36.2% | +20 bp | +1.1% |
| COWZ | Pacer US Cash Cows 100 ETF | 33.6% | +10 bp | +2.2% |
| DFLV | Dimensional US Large Cap Value ETF | 33.4% | -17 bp | -0.3% |
| LSAF | LeaderShares AlphaFactor US Core Equity ETF | 31.2% | +36 bp | -1.2% |
| VLUE | iShares MSCI USA Value Factor ETF | 29.3% | -24 bp | +2.8% |
| MAGA | Point Bridge GOP Stock Tracker ETF | 28.8% | +33 bp | -2.4% |
| VOE | Vanguard Mid-Cap Value Index Fund | 28.7% | -32 bp | -0.8% |
Risk and Returns: SPVM 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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 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 | --% |
Based on closing prices from 10/2/2023
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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
SPVM
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™
SPVM
9.4%
Cat. Avg
6.5%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.4% |
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 905 funds in the US Equities category, with an average ALTAR Score™
of 6.5% and a standard deviation of
3.1%. SPVM's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places SPVM in the 82nd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
SPVM
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
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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) |
|
|---|---|---|---|
| SPVM | 39.0 | 8.9 | 47.9 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .