Invesco Equally-Weighted S&P 500 Fund (VADCX) Overview
- Shams ul Zoha
- February 27, 2023
- 4:15 pm
WHAT YOU SHOULD KNOW
- Invesco Equally-Weighted S&P 500 Fund (VADCX) is a well-diversified portfolio of primarily stocks with a sectoral allocation of over 10% in Consumer Cyclical, Financial Services, Healthcare, and Industrials.
- The fund invests heavily in common stocks listed in the S&P 500® Equal Weight Index, with almost all of its assets allocated towards this end.
- The fund’s equity holdings have a comparatively lower median market cap of $39,727.43, as compared to the category average of $265,875.19.
The Invesco Equally-Weighted S&P 500 Fund (VADCX) has a well-diversified portfolio, primarily composed of stocks with a sectoral allocation of over 10% in Consumer Cyclical, Financial Services, Healthcare, and Industrials. The fund invests heavily in common stocks listed in the S&P 500® Equal Weight Index, with almost all of its assets allocated towards this end. The fund’s equity holdings have a comparatively lower median market cap of $39,727.43, as compared to the category average of $265,875.19.
The fund has a very small allocation to cash, at 0.06%, and no allocation to bonds, preferred, or convertible securities. The fund has no bond holdings that report credit quality, maturity, or duration information.
When looking at the equity holdings of VADCX, it has a lower Price/Earnings ratio of 17.94 compared to the category average of 26.32, and a lower Price/Book ratio of 3.24 compared to the category average of 4.98. The fund’s Price/Sales and Price/Cashflow ratios are also comparatively lower than the category average. Over the past three years, the fund’s earnings growth rate has been 10.71%, which is lower than the category average of 19.53%.
Peter Hubbard is the Lead Manager of Invesco PowerShares Capital Management LLC since July 12, 2020. He is also the Vice President and Director of Portfolio Management. Hubbard has been associated with the Adviser since 2005 and has been a Portfolio Manager since June 2007. Before joining Invesco PowerShares, he was a research analyst and trader for Ritchie Capital from September 2003 to May 2005.
The primary investment strategy of the fund is to allocate almost all of its assets to common stocks listed in the S&P 500® Equal Weight Index, along with derivatives and other financial instruments with comparable economic characteristics. The S&P 500® Equal Weight Index is a modified version of the S&P 500® Index, a widely recognized stock market index that tracks the performance of 500 large-cap U.S. equities. The fund also has the option to invest in futures contracts and other derivative instruments.
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