PGJ
Invesco Golden Dragon China ETF
Invesco Golden Dragon China Portfolio seeks investment results that correspond to the price and yield of the NASDAQ Golden Dragon China Index. The index is composed of US exchange-listed companies that are headquartered in China.
Fund Basics
| Fund sponsor | Invesco PowerShares |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 09, 2004 |
| Assets (mns) | $166 |
| Expense ratio | 70 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Depository Receipts |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| YUM CHINA HOLDINGS, INC. | 9.0 % |
| ALIBABA GROUP HOLDING LTD. SPONSORED ADR | 8.0 % |
| BAIDU INC - SPON ADR | 7.8 % |
| JD.COM INC-ADR | 6.7 % |
| NIO INC. SPONSORED ADR CLASS A | 5.4 % |
| NETEASE.COM INC-ADR | 4.1 % |
| ZTO EXPRESS (CAYMAN) INC. SPONSORED ADR | 4.1 % |
| KE HOLDINGS, INC. SPONSORED ADR CLASS A | 4.0 % |
| LI AUTO, INC. SPONSORED ADR CLASS A | 4.0 % |
| CHINA LODGING GROUP-SPON ADS | 3.9 % |
Constituent Breakdown
| Number of holdings | 62 |
| Herfindahl-Hirschman Index | 469 |
| Wgt avg mkt cap (mns) | $42,603 |
| Large cap (>$10bn) | 54.8% |
| Mid cap ($2-10bn) | 18.1% |
| Small cap (<$2bn) | 7.0% |
| Developed mkts. | 16.3% |
| Emerging mkts. | 83.7% |
Country Exposure
 |
CHINA | 93.8 % |
 |
CANADA | 0.9 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 5.5% | -6.1% | -21.3% | -18.5% | -6.1% | 2.1% | 4.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.38 | 2% |
| MSCI EAFE | 0.82 | 11% |
| MSCI Emg Mkts | 1.92 | 58% |
Liquidity Measures
| Avg. volume (000) | 50 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.12% |
| ADV of underlying (mns) | $7,630 |
Technical Indicators
| Recent close | $26.68 |
| 30d moving avg. | $27.82 |
| Annualized volatility | 44.9% |
| Relative strength (RSI) | 38 |
| Short interest (ETF) | 1.5% |
| Short interest (underlying) | 3.8% |
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. PGJ |
Expenses vs. PGJ |
ALTAR Score™ vs. PGJ |
|---|---|---|---|---|
| EWEB | Global X Emerging Markets Internet & E-commerce ETF | 32.1% | -5 bp | +1.3% |
| KWEB | KraneShares CSI China Internet ETF | 28.1% | -1 bp | -5.4% |
| EBIZ | Global X E-Commerce ETF | 24.7% | -20 bp | -3.3% |
| FPXI | First Trust International Equity Opportunities ETF | 18.4% | 0 bp | +0.2% |
| CHIQ | Global X MSCI China Consumer ETF | 17.9% | -5 bp | +0.3% |
| ECON | Columbia Emerging Markets Consumer ETF | 17.1% | -21 bp | -0.1% |
| MINV | Matthews Asia Innovators Active ETF | 17.1% | +9 bp | -3.6% |
| ONLN | ProShares Online Retail ETF | 15.9% | -12 bp | -2.3% |
| TCHI | iShares MSCI China Multisector Tech ETF | 14.3% | -11 bp | +0.2% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 13.9% | +16 bp | -2.5% |
Risk and Returns: PGJ 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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 9/28/2023
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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
PGJ
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™
PGJ
4.4%
Cat. Avg
7.8%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.4% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 186 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. PGJ's ALTAR Score™ is approximately
0.8 standard deviations
below
the category average. This places PGJ in the 21st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
PGJ
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) |
|
|---|---|---|---|
| PGJ | 70.0 | 12.1 | 82.1 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .