PYZ
Invesco DWA 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.
Fund Basics
| Fund sponsor | Invesco PowerShares |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 12, 2006 |
| Assets (mns) | $138 |
| 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 +
| OLIN CORP | 4.2 % |
| RELIANCE STEEL & ALUMINUM | 4.2 % |
| AIR PRODUCTS & CHEMICALS INC | 4.2 % |
| AVERY DENNISON CORP | 4.2 % |
| STEEL DYNAMICS INC | 4.0 % |
| NUCOR CORP | 3.6 % |
| CARPENTER TECHNOLOGY | 3.6 % |
| VALVOLINE INC. | 3.1 % |
| ALLEGHENY TECHNOLOGIES INC | 2.9 % |
| UNITED STATES STEEL CORP | 2.8 % |
Constituent Breakdown
| Number of holdings | 46 |
| Herfindahl-Hirschman Index | 252 |
| Wgt avg mkt cap (mns) | $16,175 |
| Large cap (>$10bn) | 41.3% |
| Mid cap ($2-10bn) | 50.4% |
| Small cap (<$2bn) | 8.4% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.0 % |
 |
BRITAIN | 2.5 % |
 |
LUXEMBOURG | 1.4 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 8.2% | 6.9% | -2.2% | 15.2% | 5.5% | 7.9% | 8.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.35 | 69% |
| MSCI EAFE | 1.31 | 68% |
| MSCI Emg Mkts | 0.94 | 33% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.14% |
| ADV of underlying (mns) | $4,267 |
Technical Indicators
| Recent close | $77.36 |
| 30d moving avg. | $82.38 |
| Annualized volatility | 29.2% |
| Relative strength (RSI) | 34 |
| Short interest (ETF) | 0.1% |
| 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 |
|---|---|---|---|---|
| FXZ | First Trust Materials AlphaDEX Fund | 42.7% | +1 bp | +2.5% |
| FMAT | Fidelity MSCI Materials Index ETF | 36.7% | -52 bp | -2.5% |
| VAW | Vanguard Materials Index Fund | 36.3% | -50 bp | -2.9% |
| IYM | iShares U.S. Basic Materials ETF | 35.9% | -21 bp | -2.2% |
| XME | SPDR S&P Metals & Mining ETF | 34.0% | -25 bp | -1.4% |
| RSPM | Invesco S&P 500 Equal Weight Materials ETF | 31.1% | -20 bp | -1.1% |
| XLB | Materials Select Sector SPDR Fund | 27.1% | -50 bp | -3.5% |
| SLX | VanEck Steel ETF | 26.0% | -4 bp | +14.3% |
| PSCM | Invesco S&P SmallCap Materials ETF | 17.9% | -31 bp | -1.8% |
| MXI | iShares Global Materials ETF | 16.7% | -19 bp | -1.8% |
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
| 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 9/26/2023
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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
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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
PYZ
9.9%
Cat. Avg
6.5%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.9% |
Recommendation
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.
Category Overview
There are 898 funds in the US Equities category, with an average ALTAR Score™
of 6.5% and a standard deviation of
3.1%. PYZ's ALTAR Score™ is approximately
1.1 standard deviations
above
the category average. This places PYZ in the 86th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
PYZ
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) |
|
|---|---|---|---|
| PYZ | 60.0 | 13.7 | 73.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .