PXH
Invesco FTSE RAFI Emerging Markets ETF
Invesco FTSE RAFI Emerging Markets Portfolio seeks investment results that correspond to the FTSE RAFI Emerging Markets Index.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
1.3 B
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 27, 2007 |
| Assets (mns) | $1,252 |
| 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 +
| ALIBABA GROUP HOLDING LTD. | 5.1 % |
| TAIWAN SEMICONDUCTOR MANUFAC | 5.0 % |
| TENCENT HOLDINGS LTD | 3.5 % |
| PETROBRAS - PETROLEO BRAS-PR | 3.0 % |
| CHINA CONSTRUCTION BANK-H | 3.0 % |
| IND & COMM BK OF CHINA - H | 3.0 % |
| PING AN INSURANCE GROUP CO-H | 2.4 % |
| BANK OF CHINA LTD - H | 2.2 % |
| VALE SA | 1.9 % |
| JD.COM INC-ADR | 1.6 % |
Constituent Breakdown
| Number of holdings | 384 |
| Herfindahl-Hirschman Index | 138 |
| Wgt avg mkt cap (mns) | $138,052 |
| Large cap (>$10bn) | 81.4% |
| Mid cap ($2-10bn) | 15.4% |
| Small cap (<$2bn) | 1.0% |
| Developed mkts. | 5.1% |
| Emerging mkts. | 94.9% |
Country Exposure
 |
CHINA | 40.0 % |
 |
TAIWAN | 16.1 % |
 |
INDIA | 11.3 % |
 |
BRAZIL | 10.6 % |
 |
SOUTH AFRICA | 3.5 % |
 |
THAILAND | 2.7 % |
 |
HONG KONG | 2.6 % |
 |
SAUDI ARABIA | 2.5 % |
 |
MEXICO | 1.9 % |
 |
TURKEY | 1.3 % |
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 4.2% | 8.0% | 7.4% | 3.0% | 5.4% | 0.3% | -- | -1.1% |
| Dividend Yield | 0.0% | 3.4% | 4.3% | 4.7% | 4.6% | 3.7% | -- | 2.9% |
| Total Returns | 4.2% | 11.5% | 11.7% | 7.8% | 10.0% | 4.0% | -- | 1.8% | Ann. Volatility | 25.9% | 21.6% | 18.6% | 18.8% | 18.7% | 21.4% | -- | 27.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.57 | 33% |
| MSCI EAFE | 0.75 | 62% |
| MSCI Emg Mkts | 0.92 | 93% |
Liquidity Measures
| Avg. volume (000) | 489 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.07% |
| ADV of underlying (mns) | $16,296 |
Technical Indicators
| Recent close | $21.35 |
| 30d moving avg. | $21.14 |
| Annualized volatility | 16.3% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 1.0% |
| 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. PXH |
Expenses vs. PXH |
ALTAR Score™ vs. PXH |
|---|---|---|---|---|
| FNDE | Schwab Fundamental Emerging Markets Large Co. Index ETF | 69.1% | -10 bp | +0.4% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 51.3% | 0 bp | -6.3% |
| SCHE | Schwab Emerging Markets Equity ETF | 48.9% | -38 bp | -5.3% |
| EEM | iShares MSCI Emerging Markets ETF | 48.6% | +20 bp | -6.2% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 47.2% | -34 bp | -6.3% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 46.9% | +17 bp | -6.7% |
| VWO | Vanguard FTSE Emerging Markets ETF | 46.8% | -41 bp | -6.1% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 46.7% | -19 bp | -6.1% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 46.3% | -38 bp | -6.4% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 46.0% | -13 bp | -6.6% |
Risk and Returns: PXH 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
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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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 4/30/2025
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
PXH
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
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
PXH
17.1%
Cat. Avg
10.2%
ALTAR Score™ Calculation
Category Overview
There are 153 funds in the Emerging Equity category, with an average ALTAR Score™
of 10.2% and a standard deviation of
3.9%. PXH's ALTAR Score™ is approximately
1.8 standard deviations
above
the category average. This places PXH in the 96th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PXHSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| PXH (49 bp) Percentile rank | 29 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PXH | 49.0 | 6.9 | 55.9 |
| Peer Avg. | 48.7 | 41.5 | 90.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .