DWAS
Invesco Dorsey Wright SmallCap Momentum ETF
Invesco DWA SmallCap Technical Leaders Portfolio is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Dorsey Wright SmallCap Technical LeadersTM Index (the "Underlying Index").
US
EQUITY
Rules-Based
MANAGEMENT STYLE
997.7 M
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 19, 2012 |
| Assets (mns) | $998 |
| Expense ratio | 60 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Momentum |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| RIGEL PHARMACEUTICALS INC | 9.3 % |
| LEONARDO DRS, INC. | 1.8 % |
| LIMBACH HOLDINGS, INC. | 1.7 % |
| MODINE MANUFACTURING CO | 1.6 % |
| STERLING CONSTRUCTION CO | 1.5 % |
| ADMA BIOLOGICS, INC. | 1.4 % |
| KINETIK HOLDINGS | 1.1 % |
| MR. COOPER GROUP, INC. | 1.1 % |
| WAYSIDE TECHNOLOGY GROUP INC | 1.0 % |
| NUVALENT, INC. CLASS A | 1.0 % |
Constituent Breakdown
| Number of holdings | 187 |
| Herfindahl-Hirschman Index | 168 |
| Wgt avg mkt cap (mns) | $3,559 |
| Large cap (>$10bn) | 5.0% |
| Mid cap ($2-10bn) | 57.0% |
| Small cap (<$2bn) | 37.6% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 88.5 % |
 |
PUERTO RICO | 0.8 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 23.5% | 37.7% | 16.4% | 6.0% | 14.4% | 11.0% | 12.8% | Volatility | 23.6% | 23.6% | 22.5% | 25.6% | 30.9% | 25.8% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.15 | 67% |
| MSCI EAFE | 1.00 | 50% |
| MSCI Emg Mkts | 0.59 | 17% |
Liquidity Measures
| Avg. volume (000) | 29 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.15% |
| ADV of underlying (mns) | $5,288 |
Technical Indicators
| Recent close | $91.40 |
| 30d moving avg. | $100.20 |
| Annualized volatility | 24.6% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 7.3% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DWAS |
Expenses vs. DWAS |
ALTAR Score™ vs. DWAS |
|---|---|---|---|---|
| AFSM | First Trust Active Factor Small Cap ETF | 23.4% | +15 bp | +5.1% |
| IWO | iShares Russell 2000 Growth ETF | 22.3% | -36 bp | -1.0% |
| VTWG | Vanguard Russell 2000 Growth ETF | 22.1% | -45 bp | -0.9% |
| OMFS | Invesco Russell 2000 Dynamic Multifactor ETF | 20.7% | -21 bp | +4.6% |
| VIOG | Vanguard S&P Small-Cap 600 Growth ETF | 20.5% | -45 bp | +4.5% |
| IJT | iShares S&P Small-Cap 600 Growth ETF | 20.4% | -42 bp | +4.5% |
| FYC | First Trust Small Cap Growth AlphaDEX Fund | 20.3% | +11 bp | -2.0% |
| SLYG | SPDR S&P 600 Small Cap Growth ETF | 20.0% | -45 bp | +4.5% |
| BKSE | BNY Mellon US Small Cap Core Equity ETF | 17.7% | -56 bp | +3.4% |
| PSC | Principal U.S. Small-Cap ETF | 17.7% | -22 bp | +4.7% |
Risk and Returns: DWAS 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 12/18/2024
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
DWAS
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
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.
ALTAR Score™
DWAS
1.6%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.6%. DWAS's ALTAR Score™ is approximately
1.6 standard deviations
below
the category average. This places DWAS in the 6th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DWASSELL
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 |
| DWAS (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) |
|
|---|---|---|---|
| DWAS | 60.0 | 14.8 | 74.8 |
| Peer Avg. | 37.3 | 15.0 | 52.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .