PIE
Invesco Dorsey Wright Emerging Markets Momentum ETF
Invesco DWA Emerging Markets Technical Leaders Portfolio seeks investment results that correspond to the price and yield of the Dorsey Wright Emerging Markets Technical Leaders Index.
Fund Basics
| Fund sponsor | Invesco PowerShares |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 28, 2007 |
| Assets (mns) | $132 |
| Expense ratio | 90 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 +
| FORTUNE ELECTRIC CO LTD | 3.1 % |
| TOPCO SCIENTIFIC CO LTD | 2.9 % |
| FRONTKEN CORP. BHD. | 2.9 % |
| ASIA VITAL COMPONENTS | 2.6 % |
| TAIWAN SEMICONDUCTOR MANUFAC | 2.5 % |
| SHINY CHEMICAL INDUSTRIAL CO., LTD. | 2.4 % |
| L&K ENGINEERING CO LTD | 2.3 % |
| HRT PARTICIPACOES EM PETROLE | 2.2 % |
| SHIHLIN ELECTRIC & ENGINEER | 2.2 % |
| TURK TRAKTOR VE ZIRAAT MAKIN | 2.1 % |
Constituent Breakdown
| Number of holdings | 95 |
| Herfindahl-Hirschman Index | 196 |
| Wgt avg mkt cap (mns) | $25,557 |
| Large cap (>$10bn) | 22.6% |
| Mid cap ($2-10bn) | 55.9% |
| Small cap (<$2bn) | 19.4% |
| Developed mkts. | 3.5% |
| Emerging mkts. | 96.5% |
Country Exposure
 |
TAIWAN | 48.0 % |
 |
MEXICO | 11.3 % |
 |
TURKEY | 11.0 % |
 |
CHINA | 6.1 % |
 |
MALAYSIA | 5.8 % |
 |
BRAZIL | 3.4 % |
 |
SOUTH AFRICA | 3.1 % |
 |
INDONESIA | 2.9 % |
 |
PHILIPPINES | 0.6 % |
 |
HONG KONG | 0.5 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 5.9% | 17.2% | -1.7% | -1.6% | 6.9% | 3.7% | 0.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.78 | 49% |
| MSCI EAFE | 0.91 | 63% |
| MSCI Emg Mkts | 0.99 | 80% |
Liquidity Measures
| Avg. volume (000) | 16 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.40% |
| ADV of underlying (mns) | $4,221 |
Technical Indicators
| Recent close | $21.02 |
| 30d moving avg. | $18.88 |
| Annualized volatility | 19.6% |
| Relative strength (RSI) | 67 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
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. PIE |
Expenses vs. PIE |
ALTAR Score™ vs. PIE |
|---|---|---|---|---|
| FEM | First Trust Emerging Markets AlphaDEX Fund | 14.5% | -10 bp | +9.7% |
| UEVM | VictoryShares Emerging Markets Value Momentum ETF | 14.3% | -45 bp | +6.1% |
| FEMS | First Trust Emerging Markets Small Cap AlphaDEX Fund | 12.8% | -10 bp | +7.4% |
| EEMO | Invesco S&P Emerging Markets Momentum ETF | 11.9% | -61 bp | -0.5% |
| DGS | WisdomTree Emerging Markets SmallCap Dividend Fund | 11.4% | -32 bp | +3.4% |
| JPEM | JPMorgan Diversified Return Emerging Markets Equity ETF | 11.1% | -46 bp | +3.6% |
| FLTW | Franklin FTSE Taiwan ETF | 10.3% | -71 bp | -0.9% |
| EYLD | Cambria Emerging Shareholder Yield ETF | 10.0% | -24 bp | +5.4% |
Risk and Returns: PIE 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 4/17/2024
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
PIE
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™
PIE
6.8%
Cat. Avg
7.9%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.8% |
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 163 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.9% and a standard deviation of
3.9%. PIE's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places PIE in the 39th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
PIE
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) |
|
|---|---|---|---|
| PIE | 90.0 | 39.7 | 129.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .