PowerShares EM Sovereign Debt
ALTAR
Score™
4.1% info Median Credit
S&P/Moody's
BBB-/Baa3
 
Yield to
Maturity
5.6% Current
Yield
5.9%
Macaulay
Duration
8.8 yrs Modified
Duration
8.5%


  • Description
  • Performance
  • Fundamentals
  • Rate Sensitivity
  • Rating
PowerShares Emerging Markets Sovereign Debt Portfolio is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the price and yield of the DB Emerging Market USD Liquid Balanced Index.

FUND BASICS
Category Emerging Market
Fund Sponsor Invesco PowerShares
Website www.powershares.com
Inception date Oct 11, 2007
Assets (mns) $4,275
Currency USD
Expense ratio 50 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon/The
Weighting Market Cap
Index replication Full

ISSUER TYPE BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents 85
No of distinct issuers 40
Inflation protected 0%
Variable/Fixed coupon 3% /97%
Non-standard maturity (callable, etc.) 15%

TOP TEN HOLDINGS
GOVT OF LATVIA 2.8% 1/12/20 3.1 %
GOVT OF MOROCCO 5.5% 12/11/42 1.6 %
GOVT OF SERBIA 4.9% 2/25/20 1.6 %
GOVT OF SERBIA 7.3% 9/28/21 1.6 %
GOVT OF MOROCCO 4.3% 12/11/22 1.5 %
GOVT OF VENEZUELA 6.0% 12/09/20 1.5 %
GOVT OF SOUTH KOREA 3.9% 9/11/23 1.5 %
GOVT OF VENEZUELA 8.3% 1/13/24 1.4 %
GOVT OF SOUTH KOREA 4.1% 6/10/44 1.4 %
GOVT OF VENEZUELA 9.0% 5/07/23 1.3 %
   
TOTAL 16.5 %

TOP ISSUERS
GOVERNMENT OF VENEZUELA4.2%
GOVERNMENT OF BRAZIL3.8%
GOVERNMENT OF COLOMBIA3.7%
GOVERNMENT OF INDONESIA3.6%
GOVERNMENT OF KAZAKHSTAN3.5%

TOP COUNTRY EXPOSURE
VENEZUELA 4.2 %
BRAZIL 3.8 %
COLOMBIA 3.7 %
INDONESIA 3.6 %
KAZAKHSTAN 3.5 %

 





HISTORICAL RETURNS info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
6.1% 8.4% 5.7% -- 6.9%

Market Correlations
versus... Beta R-squared
Barclays Agg. Bond 1.88 60%
S&P500 0.22 11%
MSCI EAFE 0.26 20%
MSCI Emg. Mkts. 0.28 39%

Technical Indicators
Recent close $29.48
Tracking Error 0.00
Avg. Premium/Discount 0.00%
Annualized volatility n/a %
Relative strength (RSI) 68
Liquidity measures
Avg. volume (thou.) 29
Avg. daily value traded (mns) $1
Turnover 0.0%
Bid/Ask (% of price) 0.08

Distributions


Yield Comparison

*Fund Category: EMERGING MARKET

CREDIT QUALITY: MOODY'S

DISTRIBUTION YIELD (TRAILING 12 MONTHS)
Macaulay Duration info
 
PCY 8.8 yrs Category
Avg.*
8.0 yrs
 

Modified Duration info
 
PCY 8.5% Category
Avg.*
7.8%

RATE SENSITIVITY ANALYSIS info
Change
in YTM
New
YTM
Est. Price
Change
Est. New
Price
+300 bp 8.55% -19.0% $23.87
+200 bp 7.55% -14.1% $25.31
+150 bp 7.05% -11.2% $26.19
+100 bp 6.55% -7.8% $27.18
+75 bp 6.30% -6.0% $27.71
+50 bp 6.05% -4.1% $28.27
+25 bp 5.80% -2.1% $28.86
0 bp 5.55% 0% $29.48
-25 bp 5.30% 2.2% $30.12
-50 bp 5.05% 4.5% $30.79
-75 bp 4.80% 6.8% $31.49
-100 bp 4.55% 9.3% $32.22
-150 bp 4.05% 14.5% $33.75
-200 bp 3.55% 20.0% $35.39
-300 bp 2.55% 32.3% $38.99

*Fund Category: EMERGING MARKET

ALTAR Score™


Calculation of ALTAR Score™
Adj. Yield to Maturity info 555 bp
Less: Annual "default factor" info 91 bp
Less: Expense ratio 50 bp
Equals: ALTAR Score 4.14 %
 

Average ALTAR Score™ by Category
Aggregate 1.6%
Corporate 1.9%
Emerging Market 3.9%
Government 1.4%
Inflation Protected 1.4%
Mortgage 2.8%
Municipals 2.4%
 
*Note: The PowerShares EM Sovereign Debt is classified as a Emerging Market fund.

 

Our estimate of the impact of potential defaults on investor returns, based on historical default and recovery rates for bonds of similar credit rating and maturities.
See RATING tab for calculations of ALTAR Score™
Estimate of fund sensitivity to interest rate changes based on modified duration and convexity adjustment applied to underlying bonds. Note: Less meaningful for inflation-indexed bonds.
Adds expected inflation to real YTM for inflation-linked bonds so that all instruments are compared on a nominal basis
Weighted-average term to maturity of the cash flows from a bond. All else being equal, bonds of longer duration are more sensitive to changes in interest rates than bonds of shorter duration.
Approximation of the change in bond prices given a 100 basis point shift in interest rates. A better estimate, particularly for larger moves in interest rates, is provided by the Rate Sensitivity Analysis below.