PYZ
Invesco Dorsey Wright Basic Materials Momentum ETF
The Invesco DWA Basic Materials Momentum Portfolio tracks an index of U.S. basic materials firms selected and weighted by price momentum.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
61.2 M
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 12, 2006 |
| Assets (mns) | $61 |
| 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 +
| CARPENTER TECHNOLOGY | 4.4 % |
| RPM INTERNATIONAL INC | 4.2 % |
| ALLEGHENY TECHNOLOGIES INC | 4.1 % |
| LINDE PLC | 4.0 % |
| AVERY DENNISON CORP | 3.8 % |
| AIR PRODUCTS & CHEMICALS INC | 3.8 % |
| RELIANCE STEEL & ALUMINUM | 3.3 % |
| NUCOR CORP | 2.8 % |
| EASTMAN CHEMICAL COMPANY | 2.8 % |
| CF INDUSTRIES HOLDINGS INC | 2.6 % |
Constituent Breakdown
| Number of holdings | 46 |
| Herfindahl-Hirschman Index | 253 |
| Wgt avg mkt cap (mns) | $26,439 |
| Large cap (>$10bn) | 54.5% |
| Mid cap ($2-10bn) | 35.1% |
| Small cap (<$2bn) | 10.4% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 92.7 % |
 |
BRITAIN | 4.0 % |
 |
LUXEMBOURG | 1.5 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 12.9% | 23.9% | 18.7% | 5.5% | 11.8% | 6.8% | 8.8% | Volatility | 16.3% | 18.7% | 24.9% | 26.3% | 30.5% | 25.4% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.32 | 69% |
| MSCI EAFE | 1.34 | 68% |
| MSCI Emg Mkts | 0.97 | 34% |
Liquidity Measures
| Avg. volume (000) | 4 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.15% |
| ADV of underlying (mns) | $6,378 |
Technical Indicators
| Recent close | $96.95 |
| 30d moving avg. | $90.38 |
| Annualized volatility | 28.6% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 4.5% |
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. PYZ |
Expenses vs. PYZ |
ALTAR Score™ vs. PYZ |
|---|---|---|---|---|
| FMAT | Fidelity MSCI Materials Index ETF | 39.2% | -52 bp | +0.2% |
| VAW | Vanguard Materials ETF | 38.4% | -50 bp | +0.1% |
| IYM | iShares U.S. Basic Materials ETF | 36.5% | -20 bp | +0.4% |
| XME | SPDR S&P Metals & Mining ETF | 34.8% | -25 bp | +2.6% |
| RSPM | Invesco S&P 500 Equal Weight Materials ETF | 34.4% | -20 bp | +1.7% |
| FXZ | First Trust Materials AlphaDEX Fund | 31.2% | +1 bp | +4.4% |
| XLB | Materials Select Sector SPDR Fund | 31.0% | -51 bp | -0.1% |
| MXI | iShares Global Materials ETF | 22.6% | -19 bp | +0.9% |
| PSCM | Invesco S&P SmallCap Materials ETF | 21.6% | -31 bp | +2.5% |
| NANR | SPDR S&P North American Natural Resources ETF | 17.6% | -25 bp | +1.4% |
Risk and Returns: PYZ 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 10/21/2024
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
PYZ
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
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.
ALTAR Score™
PYZ
6.0%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 933 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. PYZ's ALTAR Score™ is approximately
0.2 standard deviations
above
the category average. This places PYZ in the 57th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PYZSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| PYZ (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) |
|
|---|---|---|---|
| PYZ | 60.0 | 14.6 | 74.6 |
| Peer Avg. | 37.8 | 15.4 | 53.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .