PDN
Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid Portfolio seeks investment results that correspond to the price and yield of the FTSE RAFI Developed Markets ex-U.S. Small-Mid Index
International
EQUITY
Passive
MANAGEMENT STYLE
368.8 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 27, 2007 |
| Assets (mns) | $369 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Fundamental |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| FILTRONA PLC | 0.6 % |
| SAMSUNG TECHWIN CO LTD | 0.3 % |
| DOOSAN CORP | 0.3 % |
| DAINIPPON SUMITOMO PHARMA CO | 0.3 % |
| IAMGOLD CORP | 0.3 % |
| SSR MINING INC | 0.2 % |
| ELDORADO GOLD CORP | 0.2 % |
| ELBIT SYSTEMS LTD | 0.2 % |
| KOREA INVESTMENT HOLDINGS CO | 0.2 % |
| FRESNILLO PLC | 0.2 % |
Constituent Breakdown
| Number of holdings | 1671 |
| Herfindahl-Hirschman Index | 9 |
| Wgt avg mkt cap (mns) | $4,575 |
| Large cap (>$10bn) | 9.6% |
| Mid cap ($2-10bn) | 48.8% |
| Small cap (<$2bn) | 32.9% |
| Developed mkts. | 84.0% |
| Emerging mkts. | 8.6% |
Country Exposure
 |
JAPAN | 29.3 % |
 |
CANADA | 8.5 % |
 |
BRITAIN | 7.4 % |
 |
SOUTH KOREA | 7.3 % |
 |
AUSTRALIA | 5.8 % |
 |
GERMANY | 3.2 % |
 |
FRANCE | 3.2 % |
 |
SWITZERLAND | 3.0 % |
 |
SWEDEN | 3.0 % |
 |
HONG KONG | 2.6 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 29.9% | 24.8% | 20.2% | 15.4% | 7.2% | 4.4% | -- | 2.7% |
| Dividend Yield | 0.9% | 2.2% | 2.9% | 3.0% | 2.8% | 2.6% | -- | 2.4% |
| Total Returns | 30.7% | 26.9% | 23.1% | 18.3% | 10.0% | 7.0% | -- | 5.1% | Ann. Volatility | 16.3% | 15.9% | 15.0% | 15.2% | 16.2% | 17.0% | -- | 21.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.76 | 45% |
| MSCI EAFE | 0.74 | 56% |
| MSCI Emg Mkts | 0.63 | 48% |
Liquidity Measures
| Avg. volume (000) | 41 |
| ADV traded (mns) | $2 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.10% |
Technical Indicators
| 30d moving avg. (EMA) | $40.84 |
| Relative strength (RSI) | 47 |
| MACD/Signal | -0.19/-0.07 |
| Bollinger Bands (Upper/Lower) | $41.96/$39.91 |
| Short interest (% of AUM) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. PDN |
Expenses vs. PDN |
ALTAR Score™ vs. PDN |
|---|---|---|---|---|
| FNDC | Schwab Fundamental International Small Co. Index ETF | 66.3% | -10 bp | +5.6% |
| SCZ | iShares MSCI EAFE Small-Cap ETF | 43.2% | -9 bp | +6.7% |
| AVDS | Avantis International Small Cap Equity ETF | 37.4% | -19 bp | +6.8% |
| DFIS | Dimensional International Small Cap ETF | 36.6% | -10 bp | +6.9% |
| SCHC | Schwab International Small-Cap Equity ETF | 36.2% | -38 bp | +7.3% |
| VSS | Vanguard FTSE All-World ex-US Small-Cap ETF | 31.5% | -41 bp | +7.1% |
| SCJ | iShares MSCI Japan Small-Cap ETF | 26.9% | +1 bp | +6.6% |
| GWX | SPDR S&P International Small Cap ETF | 25.2% | -9 bp | +6.6% |
| AVDV | Avantis International Small Cap Value ETF | 24.4% | -13 bp | +8.7% |
| TLTD | FlexShares Morningstar Developed Markets ex-US Factor Tilt | 24.2% | -10 bp | +7.5% |
Risk and Returns: PDN vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/29/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
PDN
6.8%
Cat. Avg
6.8%
ALTAR Score™ Calculation
Category Overview
There are 269 funds in the International Equity category, with an average ALTAR Score™
of 6.8% and a standard deviation of
1.8%. PDN's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places PDN in the 50th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PDNSELL
U/W
HOLD
O/W
BUY