PFI
Invesco Dorsey Wright Financial Momentum ETF
The Invesco DWA Financial Momentum Portfolio tracks an index of U.S. financial firms selected and weighted by price momentum.
Fund Basics
Fund sponsor | Invesco PowerShares |
Category | US Equities |
Asset class | Equity |
Website | link... |
Inception date | Oct 12, 2006 |
Assets (mns) | $53 |
Expense ratio | 60 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Momentum |
Weighting | Momentum |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
MASTERCARD INCORPORATED CLASS A | 5.8 % |
KINSALE CAPITAL GROUP, INC. | 4.9 % |
ARES MANAGEMENT LP | 4.6 % |
JPMORGAN CHASE & CO | 4.2 % |
APOLLO GLOBAL MANAGEMENT INC. | 4.1 % |
VISA INC. CLASS A | 3.5 % |
KKR & CO LP | 3.2 % |
COINBASE GLOBAL, INC. CLASS A | 3.1 % |
ARTHUR J GALLAGHER & CO | 3.0 % |
MR. COOPER GROUP, INC. | 2.8 % |
Constituent Breakdown
Number of holdings | 45 |
Herfindahl-Hirschman Index | 282 |
Wgt avg mkt cap (mns) | $93,532 |
Large cap (>$10bn) | 48.1% |
Mid cap ($2-10bn) | 41.6% |
Small cap (<$2bn) | 10.3% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 90.4 % | |
SWITZERLAND | 1.7 % | |
BERMUDA | 1.5 % | |
PUERTO RICO | 1.2 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
10.9% | 27.6% | 2.6% | 3.0% | 10.2% | 7.3% | 5.5% |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 0.97 | 69% |
MSCI EAFE | 0.94 | 59% |
MSCI Emg Mkts | 0.62 | 28% |
Liquidity Measures
Avg. volume (000) | 5 |
Turnover | 0.4% |
Avg. Bid/Ask (% of price) | 0.33% |
ADV of underlying (mns) | $10,025 |
Technical Indicators
Recent close | $46.41 |
30d moving avg. | $42.82 |
Annualized volatility | 20.8% |
Relative strength (RSI) | 69 |
Short interest (ETF) | 0.3% |
Short interest (underlying) | 4.6% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. PFI |
Expenses vs. PFI |
ALTAR Score™ vs. PFI |
---|---|---|---|---|
VFH | Vanguard Financials ETF | 27.0% | -50 bp | +0.2% |
FNCL | Fidelity MSCI Financials Index ETF | 26.8% | -52 bp | +0.2% |
XLF | Financial Select Sector SPDR Fund | 23.4% | -51 bp | -0.3% |
FXO | First Trust Financials AlphaDEX Fund | 22.5% | +2 bp | +3.1% |
KIE | SPDR S&P Insurance ETF | 22.3% | -25 bp | +0.4% |
IYG | iShares US Financial Services ETF | 20.4% | -20 bp | -0.5% |
IYF | iShares U.S. Financials ETF | 18.8% | -20 bp | +0.1% |
IXG | iShares Global Financials ETF | 17.4% | -18 bp | +0.6% |
DVOL | First Trust Dorsey Wright Momentum & Low Volatility ETF | 16.9% | 0 bp | -2.0% |
BLCN | Siren ETF Trust Siren Nasdaq NexGen Economy ETF | 15.5% | +8 bp | -1.0% |
Risk and Returns: PFI 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
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2023 | 2024E | Fwd Est | 2025E | |
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 4/18/2024
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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
PFI
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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
PFI
6.4%
Cat. Avg
5.9%
Fund Category: US Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 6.4% |
Recommendation
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.
Category Overview
There are 886 funds in the US Equities category, with an average ALTAR Score™
of 5.9% and a standard deviation of
2.7%. PFI's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places PFI in the 58th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
PFI
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
Latest price | |
Change | |
Volume | |
Bid/Ask Spread | |
Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
PFI | 60.0 | 33.1 | 93.1 |
Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .