TAN

Invesco Solar ETF

Claymore/MAC Global Solar Energy Index ETF seeks investment results that correspond to the price and yield of the MAC Global Solar Energy Index.


Global

EQUITY

Rules-Based

MANAGEMENT STYLE

984.0 M

ASSETS UNDER MGMT

67 bp

EXPENSES
Fund Basics
Fund sponsorGuggenheim
CategoryGlobal
Asset classEquity
Websitelink...
Inception dateApr 15, 2008
Assets (mns)$984
Expense ratio67 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionMarket Cap
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
ENPHASE ENERGY INC 10.6 %
FIRST SOLAR INC 10.1 %
SUNRUN INC. 8.1 %
NEXTRACKER, INC. CLASS A 6.0 %
GCL POLY ENERGY HOLDINGS LTD 5.0 %
ENCAVIS AG 4.6 %
HANNON ARMSTRONG SUSTAINABLE 4.1 %
XINYI SOLAR HOLDINGS LTD 3.8 %
NEOEN S.A. 3.7 %
SUNNOVA ENERGY INTERNATIONAL INC 3.3 %
Constituent Breakdown
Number of holdings46
Herfindahl-Hirschman Index 500
Wgt avg mkt cap (mns)$6,634
Large cap (>$10bn)20.8%
Mid cap ($2-10bn)45.4%
Small cap (<$2bn)29.5%
Developed mkts.76.2%
Emerging mkts.23.8%
Country Exposure
UNITED STATES 53.1 %
CHINA 10.4 %
GERMANY 5.5 %
HONG KONG 5.0 %
ISRAEL 4.8 %
TAIWAN 3.8 %
FRANCE 3.7 %
SPAIN 2.4 %
SOUTH KOREA 2.2 %
CANADA 2.0 %
Historical Performance


Standardized Performance (as of 09/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns -23.2% -20.8% -25.3% -19.9% 7.0% 1.2% -9.0%
Volatility 39.4% 38.7% 38.8% 40.6% 44.3% 37.5% --
Market Correlations
versus...BetaR-squared
S&P 5001.4235%
MSCI EAFE1.5138%
MSCI Emg Mkts1.3730%
Liquidity Measures
Avg. volume (000)809
Turnover3.5%
Avg. Bid/Ask (% of price)0.11%
ADV of underlying (mns)$1,132
Technical Indicators
Recent close$42.13
30d moving avg.$40.52
Annualized volatility43.2%
Relative strength (RSI)57
Short interest (ETF)7.7%
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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Risk and Returns: TAN vs. Comps (1 YR)

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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 --%
1.0 13.2 1.1 1.7% --
Based on closing prices from 10/4/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
TAN



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™

TAN

8.5%

Cat. Avg

4.0%


ALTAR Score™ Calculation

Category Overview
There are 363 funds in the Global Equity category, with an average ALTAR Score™ of 4.0% and a standard deviation of 4.6%. TAN's ALTAR Score™ is approximately 1.0 standard deviations above the category average. This places TAN in the 84th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

TAN
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Rules-Based
Global Equity ETFs
# of ETFs 191
Avg. Expense Ratio 55.4 bp
Std. Deviation 17.5 bp
TAN (67 bp) Percentile rank 75
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
TAN 67.0 11.0 78
Peer Avg. 56.6 40.2 96.8
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .