Invesco BulletShares Total Risk Alpha
| BSCS ETF | | | USD 20.45 0.03 0.15% |
Total Risk Alpha measures the excess return of an asset after comparing its performance to a benchmark portfolio matched to the same total risk level. Unlike Jensen Alpha, which adjusts for systematic risk (beta) only, Total Risk Alpha accounts for total volatility. Below is Invesco BulletShares's current Total Risk Alpha with peer comparisons and related risk metrics.
Current Total Risk Alpha Value
Invesco BulletShares has a Total Risk Alpha of
-0.01, indicating slightly negative alpha — return marginally below the CAPM-predicted level. Invesco BulletShares has slightly underperformed relative to what its market beta would imply.
Total Risk Alpha | = | RFR + (ER[b] - ER[a]) | x | STD[a] / STD[b] |
| = | -0.01 | |
| ER[a] | = | Expected return on investing in Invesco BulletShares |
| ER[b] | = | Expected return on market index or selected benchmark |
| STD[a] | = | Standard Deviation of returns on Invesco BulletShares |
| STD[b] | = | Standard Deviation of selected market or benchmark |
| RFR | = | Risk Free Rate of return. Typically T-Bill Rate |
Total Risk Alpha Peers Comparison
Invesco BulletShares falls below the 0.01 peer average for Total Risk Alpha. iShares Convertible Bond leads at 0.2047 while iShares Healthcare ETF registers the lowest at -0.0914. Invesco BulletShares has generated less excess return relative to its market exposure than the peer group average.
Total Risk Alpha Relative To Other Indicators
The chart below plots Total Risk Alpha against Maximum Drawdown for Invesco BulletShares and its peers. Each point represents one equity — position along the horizontal axis shows Total Risk Alpha while the vertical axis shows Maximum Drawdown. Equities that cluster in different quadrants carry distinct risk-return profiles. Use the dropdowns to swap in other indicators for either axis.
Compare Invesco BulletShares to PeersMethodology, Assumptions & Data Sources
The current Total Risk Alpha for Invesco BulletShares is -0.01. Total Risk Alpha for Invesco BulletShares is derived by applying a defined formula to historical price observations, producing a time-series of comparable readings. The underlying data comes from exchange-reported daily closes with corporate action adjustments applied where relevant. Values are specific to the selected time horizon and may differ across measurement periods. This indicator does not constitute investment advice.
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