Invesco S&P 500® Eql Wt Cnsm Stapl ETF earns a Morningstar Medalist Rating of Neutral with strength in areas such as People offset by weaker spots such as Process. The portfolio maintains a sizable cost advantage over competitors, priced within the cheapest fee quintile among peers.  

 The strategy gets a Below Average Process Pillar rating. Independent of the rating, analysis of the strategy's portfolio shows it has maintained an underweight position in quality exposure and an overweight in liquidity exposure compared with category peers. Low quality exposure is attributed to stocks with higher financial leverage and lower profitability. And a high liquidity exposure is rooted in stocks with higher trading volumes, lending managers more flexibility. The strategy’s management team earns an Above Average People Pillar rating. The strategy's parent organization earns the firm an Average Parent Pillar rating. People Pillar and Parent Pillar ratings for this strategy are indirectly assigned by a Morningstar analyst rather than algorithmically derived. Please see the notes following each pillar section for more details. The details of assigning methods can be found in each pillar section.

Analyst Rating

Keurig Dr Pepper Inc

Kellogg

Bunge

Archer-Daniels-Midland Company

Tyson Foods

PepsiCo

Conagra Brands

Campbell Soup

Altria

McCormick

Morningstar's evaluation of this security's process aims to determine the likelihood that it will outperform its Morningstar Category benchmark on a risk-adjusted basis over the long term. Invesco S&P 500® Eql Wt Cnsm Stapl ETF earns a Below Average Process Pillar rating. 

The process benefits from tracking an index. Historical data, like Morningstar's Active/Passive Barometer, finds that passively managed funds have generally outperformed their active counterparts, especially over longer time horizons. However, the rating is weakened by the fund's weak long-term risk-adjusted performance. This can be seen in its five-year alpha calculated relative to the category index, which suggests that the process has struggled over that period. The parent firm's subpar risk-adjusted performance, as shown by its average 10-year Morningstar Rating of 2.8 stars, also detracts from the process. A lower star rating suggests that the firm has struggled to outperform on a risk-adjusted basis.

 This strategy tends to hold smaller, more value-oriented companies compared with its average peer in the Consumer Defensive Morningstar Category. Analyzing additional factors, this strategy has consistently favored low-quality stocks compared with Morningstar Category peers over the past few years. Such positions do not tend to provide much ballast for a portfolio. In the latest month, the strategy was also less exposed to the Quality factor compared with Morningstar Category peers. Given the high trading volume of holdings, this strategy has been exposed to liquid assets during these years. This gives the managers more flexibility during bear markets to sell without adversely affecting prices. Compared with category peers, the strategy also had more exposure to the Liquidity factor in the most recent month. In addition, this strategy has had a bias away from momentum stocks during these years. Momentum strategies typically bet that stocks that have recently outperformed will continue to do so, and those that have recently underperformed will keep lagging. Avoiding the former and buying the latter could indicate that managers are averse to chasing momentum. Nevertheless, the fund's Momentum exposure was in line with peers in the latest month. More information on a fund and its respective category's factor exposure can be found in the Factor Profile module within the Portfolio section. 

 The portfolio has allocations in its top two sectors, consumer defensive and healthcare, that are similar to the category. The sectors with low exposure compared to category peers are consumer cyclical and industrials; however, the allocations are similar to the category. The strategy owns 39 securities and its assets are more dispersed than peers in the category. In particular, 27.7% of the fund’s assets are concentrated in the top 10 fund holdings, as opposed to the typical peer's 53.1%. And in closing, in terms of portfolio turnover, on a year-over-year basis, 23% of the fund's holdings have changed, whether through increasing, decreasing, or changing a position.

Below Average

Process

Invesco’s equity team is strong compared with others in the industry, resulting in an Above Average People Pillar rating. There are four managers listed on the fund: Peter Hubbard, Tony Seisser, Michael Jeanette, Pratik Doshi. Experience on the team is abundant, with 12 years of average portfolio management experience. Together, they manage a total of 145 strategies, with solid long-term prospects. The strategies average a Bronze asset-weighted Morningstar Medalist Rating, indicating a position to deliver positive alpha relative to the category median in aggregate. This group has had relatively low management turnover, providing a stable environment and continuity for the strategies. 

 Note: This People Pillar rating is indirectly assigned by an analyst. Morningstar analysts evaluate the People Pillar for passive products at the brand level and may also differentiate by asset class. There is at least one other passive strategy at the firm that is covered by a Morningstar analyst, so the People Pillar rating of the fund is inherited from the rating that the Morningstar analyst assigned to investment vehicles under the same brand name.

Above Average

People

Invesco succeeds in a number of areas but also has its share of subpar offerings, along with many others that land somewhere in the middle. A mid-2023 change of CEO, from longtime chief Marty Flanagan to veteran Invesco executive Andrew Schlossberg, is noteworthy, and several other executives retired or departed in 2023. Portfolio-manager shuffles aimed at bolstering poor performers, which began under Flanagan, have continued under Schlossberg, who told Morningstar his most important aim is bolstering “investment quality.” However, major changes of direction or approach are unlikely. The firm retains a Morningstar Parent rating of Average. 
Invesco’s international-equity teams in Texas and New York remain solid. However, the extensive U.S.-equity lineup needs improvement. Fixed-income offerings run the gamut: The multisector and short-term-bond areas are good, but corporate high-yield is less impressive. The firm’s exchange-traded fund lineup includes the popular Nasdaq-focused QQQ; passive strategies make up around 37% of Invesco’s assets under management. Invesco has not been averse to trying new types of strategies, and it was among the firms that immediately launched a spot bitcoin ETF after SEC approval in early 2024.
The picture outside the United States is mixed. Fund performance has been subpar in Asia, and while the picture has brightened in the United Kingdom and Europe, that region still can’t be considered a strength.

Average

Parent

Invesco S&P 500 Equal Weight Consumer Staples ETF

RSPS tracks an equal-weighted index of large-cap US consumer staples stocks drawn from the S&P 500.

Looking for broad exposure to the Consumer Staples - Broad segment of the equity market? You should consider the Invesco S&P 500 Equal Weight Consumer Staples ETF (RSPS), a passively managed exchange traded fund launched on 11/01/2006.

Should You Invest in the Invesco S&P 500 Equal Weight Consumer Staples ETF (RSPS)?

Making its debut on 11/01/2006, smart beta exchange traded fund Invesco S&P 500 Equal Weight Consumer Staples ETF (RSPS) provides investors broad exposure to the Consumer Staples ETFs category of the market.

Is Invesco S&P 500 Equal Weight Consumer Staples ETF (RSPS) a Strong ETF Right Now?

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With the recent inflation data, ebbing rate cut probability, escalating geopolitical tensions and rising U.S. debt levels, the appeal for investing in consumer staple funds increases.

Shield Your Wealth With Consumer Staple ETFs

The household products industry looks attractive from a valuation point of view. The personal care products industry is slightly overvalued. We look at Invesco S&P 500® Equal Weight Consumer Staples ETF, an equal-weight alternative to XLP.

RSPS: Consumer Staples Dashboard For April

Bunge Global SA

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Molson Coors Brewing

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The tobacco and household products industries show the best value scores in the sector.

FSTA: Consumer Staples Sector Dashboard For March

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While consumer prices may have gone up in December, wholesale prices fell, much to the surprise of many economists. And this decline in wholesale prices should impact spending on consumer staples.

Target Consumer Staples After Wholesale Prices Have Fallen

The Invesco S&P 500 Equal Weight Consumer Staples ETF which offers equal exposure to the 38 consumer stocks in the S&P 500 has outperformed its market-cap weighted peer since inception. However, XLP has a better risk-adjusted return track record. Staple stocks look oversold and their dividend credentials could appeal to income-oriented investors at a time when the rates are poised to dip.

RSPS ETF: A Mixed Bag Between Fundamentals And The Chart

Consumer Discretionary Select Sector SPDR Fund

Despite some signs of slowdown in the economy, the biggest stories in the market still revolve around big tech earnings and artificial intelligence.

Consumer Discretionary vs. Staples: What ETFs Can Tell Us

Consumer staples names within the S&P 500 have been punished this year. GLP-1-driven concerns about the shape of the future demand curve are warranted but likely overblown. The equal-weighted RSPS offers a cheaper vehicle to ride a potential staples recovery.

RSPS: Fade GLP-1 Concerns, Buy The Consumer Staples Dip

Tobacco is the most undervalued consumer staples industry relative to 11-year averages, but it also has the worst quality score. Food/staples retail is undervalued too and looks safer. Invesco S&P 500 Equal Weight Consumer Staples ETF is an alternative to capital-weighted ETFs with slightly better valuation and past performance.

RSPS: Consumer Staples Dashboard For October

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Some consumer discretionary stocks have performed better than others. Luxury, homebuilding, and travel have been a bright spots.

News for Invesco S&P 500 Equal Weight Consumer Staples ETF ETF (RSPS)