Invesco India ETF
ALTAR
Score™		 4.8% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 21.3x P/Sales
ratio		 2.2x
P/BV
ratio		 2.9x Div.
yield		 1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Invesco India Portfolio seeks investment results that correspond to the price and yield of the Indus India Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Invesco
Website www.invesco.com
Inception date Mar 05, 2008
Assets (mns) $178
Currency USD
Expense ratio 78 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Brown Brothers Harriman & Co
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 177
Wgt avg mkt cap (mns) $50,742
Large cap (>$10bn) 81.1%
Mid cap ($2-10bn) 17.7%
Small cap (<$2bn) 0.4%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
HDFC BANK LIMITED 7.8 %
RELIANCE INDUSTRIES LTD 6.5 %
ICICI BANK LTD 5.5 %
BHARTI AIRTEL LIMITED 3.7 %
INFOSYS TECHNOLOGIES LTD 3.7 %
CASH/RECEIVABLES/PAYABLES 3.7 %
MAHINDRA & MAHINDRA LTD. 2.3 %
TATA CONSULTANCY SVS LTD 2.1 %
AXIS BANK LIMITED 1.9 %
BAJAJ FINANCE LTD 1.9 %
Total 39.2 %

TOP COUNTRY EXPOSURE
INDIA 89.1 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.7% -3.5% 7.3% 8.9% 3.5%

Market Correlations
versus... Beta R-squared
S&P500 0.34 9%
MSCI EAFE 0.38 12%
MSCI Emg. Mkts. 0.34 15%

Technical Indicators
Recent close $21.54
30d moving avg. $23.68
Annualized volatility 14.5%
Short interest (ETF) 0.2%
Relative strength (RSI) 46

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $832

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 145 potential alternatives to the Invesco India ETF ETF based on the alternatives' overlap in portfolio holdings with PIN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PIN Expense: 78 bp ALTAR Score™: 4.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PIN
Ticker Fund
Name		 Overlap1
vs PIN
(%)		 Expense
ratio
(bp)		 Savings
vs PIN
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs PIN
(%)
FLIN Franklin FTSE India ETF 70.3 19 59 4.2 -0.6
INDY iShares India 50 ETF 59.8 89 -11 5.4 +0.6
EPI WisdomTree India Earnings Fund 52.6 85 -7 5.2 +0.4
NFTY First Trust India NIFTY 50 Equal Weight ETF 42.9 80 -2 5.0 +0.2
NDIA Global X India Active ETF 26.4 75 3 5.3 +0.5
XC WisdomTree Emerging Markets Ex-China Fund 25.7 32 46 6.6 +1.8
BKF iShares MSCI BIC ETF 24.4 69 9 14.9 +10.0
RNEM First Trust Emerging Markets Equity Select ETF 18.5 75 3 8.2 +3.4
VEXC Vanguard Emerging Markets Ex-China ETF 16.2 7 71 5.7 +0.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 14.6 32 46 4.8 +0.0
XCNY SPDR S&P Emerging Markets ex-China ETF 14.6 15 63 5.7 +0.9
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 14.5 40 38 6.3 +1.5
INCO Columbia India Consumer ETF 14.2 75 3 2.2 -2.6
JHEM John Hancock Multifactor Emerging Markets ETF 12.6 49 29 7.5 +2.7
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 12.4 25 53 6.2 +1.3
LDEM iShares ESG MSCI EM Leaders ETF 12.0 17 61 12.9 +8.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 11.9 24 54 5.2 +0.4
EMDM First Trust Bloomberg Emerging Market Democracies ETF 11.6 75 3 6.4 +1.5
EEMA iShares MSCI Emerging Markets Asia ETF 11.6 49 29 7.5 +2.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 11.1 95 -17 10.0 +5.2
EMXC iShares MSCI Emerging Markets ex China ETF 11.0 25 53 5.1 +0.3
XCEM Columbia EM Core ex-China ETF 11.0 16 62 4.9 +0.1
FLAX Franklin FTSE Asia Ex Japan ETF 10.9 19 59 7.1 +2.3
NUEM Nuveen ESG Emerging Markets Equity ETF 10.8 36 42 6.1 +1.3
VWO Vanguard FTSE Emerging Markets ETF 10.7 7 71 9.2 +4.4
STXE Strive Emerging Markets Ex-China ETF 10.6 32 46 5.2 +0.4
GMF SPDR S&P Emerging Asia Pacific ETF 10.6 49 29 8.6 +3.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 10.1 70 8 6.9 +2.1
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 10.0 15 63 8.0 +3.2
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 9.9 32 46 7.4 +2.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 9.9 30 48 7.6 +2.8
ECON Columbia Emerging Markets Consumer ETF 9.8 49 29 6.6 +1.8
SCHE Schwab Emerging Markets Equity ETF 9.7 11 67 9.5 +4.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 9.3 45 33 8.1 +3.3
PXH Invesco FTSE RAFI Emerging Markets ETF 9.1 49 29 13.4 +8.6
DEHP Dimensional Emerging Markets High Profitability ETF 9.0 41 37 4.8 -0.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 9.0 36 42 7.6 +2.8
BKEM BNY Mellon Emerging Markets Equity ETF 8.9 11 67 7.9 +3.1
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 8.8 66 12 7.2 +2.4
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 8.7 88 -10 8.4 +3.6
EEM iShares MSCI Emerging Markets ETF 8.7 69 9 7.8 +3.0
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 8.7 69 9 7.4 +2.6
EMGF iShares Emerging Markets Equity Factor ETF 8.7 25 53 8.8 +4.0
GLIN VanEck India Growth Leaders ETF 8.4 77 1 5.5 +0.7
AVES Avantis Emerging Markets Value ETF 8.4 36 42 8.9 +4.1
AVXC Avantis Emerging Markets Ex-China Equity ETF 8.3 33 45 6.1 +1.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 8.3 15 63 8.8 +4.0
SPEM SPDR Portfolio Emerging Markets ETF 8.2 7 71 9.5 +4.7
IEMG iShares Core MSCI Emerging Markets ETF 8.1 9 69 8.2 +3.4
ROAM Hartford Multifactor Emerging Markets ETF 8.1 44 34 7.5 +2.7
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 7.7 30 48 8.0 +3.2
EMMF WisdomTree Emerging Markets Multifactor Fund 7.6 48 30 8.4 +3.6
ESGE iShares ESG Aware MSCI EM ETF 7.6 25 53 8.3 +3.4
EVLU iShares MSCI Emerging Markets Value Factor ETF 7.5 35 43 10.0 +5.2
DFAE Dimensional Emerging Core Equity Market ETF 7.3 35 43 7.0 +2.2
EEMO Invesco S&P Emerging Markets Momentum ETF 7.3 29 49 6.6 +1.8
EMXF iShares ESG Advanced MSCI EM ETF 7.3 16 62 6.7 +1.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 7.2 39 39 13.7 +8.9
IPAV Global X Infrastructure Development ex-U.S. ETF 7.2 55 23 5.7 +0.9
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 7.1 20 58 7.4 +2.6
DEXC Dimensional Emerging Markets ex China Core EquityETF 7.0 53 25 5.1 +0.3
DFEV Dimensional Emerging Markets Value ETF 6.8 43 35 9.4 +4.6
AVEM Avantis Emerging Markets Equity ETF 6.8 33 45 7.0 +2.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 6.7 44 34 9.5 +4.7
EMC Global X Emerging Markets Great Consumer ETF 6.6 75 3 7.1 +2.2
AVSE Avantis Responsible Emerging Markets Equity ETF 6.5 33 45 6.6 +1.8
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 6.2 41 37 6.9 +2.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 6.1 38 40 7.0 +2.2
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 5.8 33 45 6.7 +1.9
FDEM Fidelity Emerging Markets Multifactor ETF 5.5 25 53 10.4 +5.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 5.5 59 19 8.6 +3.7
JADE JPMorgan Active Developing Markets Equity ETF 5.0 65 13 6.1 +1.3
SMIN iShares MSCI India Small Cap ETF 4.6 79 -1 3.5 -1.3
SCHY Schwab International Dividend Equity ETF 4.5 14 64 8.5 +3.7
DGIN VanEck Digital India ETF 4.4 71 7 1.5 -3.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 4.3 60 18 6.6 +1.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 4.3 45 33 9.7 +4.9
FEM First Trust Emerging Markets AlphaDEX Fund 4.2 80 -2 9.0 +4.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 4.1 50 28 8.1 +3.3
EEMS iShares MSCI Emerging Markets Small Cap ETF 3.7 70 8 6.5 +1.7
DEM WisdomTree Emerging Markets High Dividend Fund 3.5 63 15 10.3 +5.5
ACWV iShares MSCI Global Min Vol Factor ETF 3.5 20 58 5.7 +0.9
PICK iShares MSCI Global Metals & Mining Producers ETF 3.2 39 39 8.0 +3.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 3.2 47 31 5.0 +0.2
VIGI Vanguard International Dividend Appreciation ETF 3.2 10 68 6.1 +1.2
VEU Vanguard FTSE All-World ex-US Index Fund 3.1 4 74 6.7 +1.9
GXUS Goldman Sachs MarketBeta Total International Equity ETF 3.1 18 60 6.4 +1.6
FTAG First Trust Indxx Global Agriculture ETF 3.0 70 8 7.2 +2.4
ACWX iShares MSCI ACWI ex U.S. ETF 2.9 34 44 6.4 +1.6
VXUS Vanguard Total International Stock ETF 2.9 5 73 6.7 +1.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.8 41 37 6.0 +1.2
IXUS iShares Core MSCI Total International Stock ETF 2.8 7 71 6.6 +1.8
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.4 65 13 7.3 +2.5
JIVE JPMorgan International Value ETF 2.4 55 23 8.4 +3.6
VSGX Vanguard ESG International Stock ETF 2.4 10 68 6.6 +1.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.3 30 48 6.4 +1.6
NXTG First Trust Indxx NextG ETF 2.1 70 8 3.4 -1.4
CWI SPDR MSCI ACWI ex-US ETF 2.1 30 48 6.5 +1.7
CGXU Capital Group International Focus Equity ETF 2.1 54 24 3.8 -1.0
AVEE Avantis Emerging Markets Small Cap Equity ETF 1.7 42 36 7.6 +2.8
EYLD Cambria Emerging Shareholder Yield ETF 1.6 66 12 9.2 +4.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.5 47 31 7.2 +2.4
IGRO iShares International Dividend Growth ETF 1.4 15 63 6.8 +2.0
JIG JPMorgan International Growth ETF 1.3 55 23 3.6 -1.2
VYMI Vanguard International High Dividend Yield ETF 1.3 17 61 8.1 +3.3
IQDF FlexShares International Quality Dividend Index Fund 1.3 47 31 7.6 +2.8
VEGI iShares MSCI Agriculture Producers ETF 1.2 39 39 7.7 +2.9
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.2 67 11 12.8 +8.0
KNCT Invesco Next Gen Connectivity ETF 1.2 40 38 2.9 -1.9
KLMT Invesco MSCI Global Climate 500 ETF 1.1 10 68 5.0 +0.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.1 20 58 4.7 -0.1
AQLT iShares MSCI Global Quality Factor ETF 1.1 18 60 0.0 -4.8
MEM Matthews Emerging Markets Equity Active ETF 1.1 79 -1 8.5 +3.6
ACWI iShares MSCI ACWI ETF 1.1 32 46 4.6 -0.2
VT Vanguard Total World Stock ETF 1.1 6 72 5.0 +0.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.1 42 36 4.1 -0.8
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 1.0 58 20 8.4 +3.6
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.9 12 66 8.8 +4.0
EDIV SPDR S&P Emerging Markets Dividend ETF 0.9 49 29 9.1 +4.2
GLOF iShares Global Equity Factor ETF 0.8 20 58 5.6 +0.7
DGT State Street SPDR Global Dow ETF 0.8 50 28 5.7 +0.8
DWX SPDR S&P International Dividend ETF 0.8 45 33 6.8 +2.0
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.7 46 32 7.8 +3.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.7 12 66 4.4 -0.4
MINV Matthews Asia Innovators Active ETF 0.6 79 -1 5.1 +0.3
ADIV SmartETFs Asia Pacific Dividend Builder ETF 0.6 78 0 9.7 +4.9
DVYE iShares Emerging Markets Dividend ETF 0.6 49 29 17.9 +13.1
FTRI First Trust Indxx Global Natural Resources Income ETF 0.6 70 8 6.7 +1.9
CGGO Capital Group Global Growth Equity ETF 0.6 47 31 4.1 -0.8
OBOR KraneShares MSCI One Belt One Road Index ETF 0.5 79 -1 7.5 +2.7
SDG iShares MSCI Global Sustainable Development Goals ETF 0.5 49 29 4.5 -0.4
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.3 10 68 8.6 +3.8
JGLO JPMorgan Global Select Equity ETF 0.3 33 45 4.3 -0.5
CGW Invesco S&P Global Water Index ETF 0.3 57 21 4.6 -0.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.3 9 69 4.9 +0.1
ANEW ProShares MSCI Transformational Changes ETF 0.2 45 33 4.4 -0.4
AVRE Avantis Real Estate ETF 0.2 17 61 6.8 +2.0
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 16 3.0 -1.8
ICLN iShares Global Clean Energy ETF 0.2 41 37 1.7 -3.2
REET iShares Global REIT ETF 0.2 14 64 7.0 +2.1
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 13 6.5 +1.7
DFGR Dimensional Global Real Estate ETF 0.2 22 56 7.0 +2.2
PIO Invesco Global Water ETF 0.1 75 3 4.5 -0.4
DEW WisdomTree Global High Dividend Fund 0.1 58 20 7.2 +2.4
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 8 70 6.3 +1.5

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Invesco India ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.3 %
Divided by: Fwd. P/BV 2.7 x
Less: Expense ratio 78 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.54 CATEGORY
AVERAGE		 1.53
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.