PTH
Invesco Dorsey Wright Healthcare Momentum ETF
The Invesco DWA Healthcare Momentum Portfolio tracks an index of U.S. healthcare firms selected and weighted by price momentum.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
60 bp
EXPENSES
$145.1 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Invesco PowerShares |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 12, 2006 |
| Assets (mns) | $145 |
| 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 +
| ELI LILLY & CO | 4.9 % |
| INSMED INC | 4.8 % |
| MEDPACE HOLDINGS, INC. | 4.5 % |
| TRANSMEDICS GROUP, INC. | 4.1 % |
| TENET HEALTHCARE CORP | 3.7 % |
| HIMS & HERS HEALTH, INC. CLASS A | 3.3 % |
| ADMA BIOLOGICS, INC. | 3.2 % |
| NATERA INC | 2.9 % |
| REGENERON PHARMACEUTICALS | 2.8 % |
| DYNE THERAPEUTICS INC | 2.7 % |
Constituent Breakdown
| Number of holdings | 52 |
| Herfindahl-Hirschman Index | 256 |
| Wgt avg mkt cap (mns) | $67,402 |
| Large cap (>$10bn) | 33.4% |
| Mid cap ($2-10bn) | 30.6% |
| Small cap (<$2bn) | 34.8% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.8 % |
 |
NETHERLANDS | 2.0 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 13.3% | -63.6% | -37.8% | -35.6% | -12.8% | -1.1% | 3.4% | Volatility | 25.1% | 24.5% | 25.2% | 25.5% | 29.5% | 27.2% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.79 | 9% |
| MSCI EAFE | 0.67 | 6% |
| MSCI Emg Mkts | 0.08 | 0% |
Liquidity Measures
| Avg. volume (000) | 8 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.22% |
| ADV of underlying (mns) | $14,593 |
Technical Indicators
| Recent close | $44.99 |
| 30d moving avg. | $43.82 |
| Annualized volatility | 46.6% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 6.8% |
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. PTH |
Expenses vs. PTH |
ALTAR Score™ vs. PTH |
|---|---|---|---|---|
| HELX | Franklin Genomic Advancements ETF | 20.4% | -10 bp | +2.9% |
| XHS | SPDR S&P Health Care Services ETF | 20.2% | -25 bp | +8.7% |
| PINK | Simplify Health Care ETF | 19.9% | -10 bp | +4.1% |
| BTEC | Principal Healthcare Innovators ETF | 19.5% | -18 bp | -0.4% |
| FXH | First Trust Health Care AlphaDEX Fund | 18.2% | +2 bp | +9.6% |
| XBI | SPDR S&P BIOTECH ETF | 17.1% | -25 bp | -0.5% |
| SBIO | ALPS Medical Breakthroughs ETF | 15.9% | -10 bp | -0.3% |
| BBC | Virtus LifeSci Biotech Clinical Trials ETF | 15.7% | +19 bp | +2.9% |
| PSCH | Invesco S&P SmallCap Health Care ETF | 15.1% | -31 bp | +7.9% |
| BMED | Future Health ETF | 14.3% | +25 bp | +2.6% |
Risk and Returns: PTH 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 7/25/2024
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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
PTH
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™
PTH
-2.9%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | -2.9% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. PTH's ALTAR Score™ is approximately
3.5 standard deviations
below
the category average. This places PTH in the 1st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
PTH
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| PTH (60 bp) Percentile rank | 66 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PTH | 60.0 | 22.4 | 82.4 |
| Peer Avg. | 36.9 | 15.0 | 51.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .