PDN
Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid Portfolio seeks investment results that correspond to the price and yield of the FTSE RAFI Developed Markets ex-U.S. Small-Mid Index
International
EQUITY
Passive
MANAGEMENT STYLE
395.0 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 27, 2007 |
| Assets (mns) | $395 |
| 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 +
| HYOSUNG HEAVY INDUSTRIES CORP | 6.3 % |
| FILTRONA PLC | 3.4 % |
| DOOSAN CORP | 0.3 % |
| SAMSUNG TECHWIN CO LTD | 0.3 % |
| CANADIAN WESTERN BANK | 0.3 % |
| ASICS CORP | 0.3 % |
| IAMGOLD CORP | 0.3 % |
| PAN AMERICAN SILVER CORP | 0.2 % |
| AAC TECHNOLOGIES HOLDINGS INC. | 0.2 % |
| HARGREAVES LANSDOWN PLC | 0.2 % |
Constituent Breakdown
| Number of holdings | 1360 |
| Herfindahl-Hirschman Index | 61 |
| Wgt avg mkt cap (mns) | $5,268 |
| Large cap (>$10bn) | 8.9% |
| Mid cap ($2-10bn) | 48.2% |
| Small cap (<$2bn) | 42.7% |
| Developed mkts. | 90.3% |
| Emerging mkts. | 9.7% |
Country Exposure
 |
JAPAN | 31.3 % |
 |
BRITAIN | 10.2 % |
 |
CANADA | 9.3 % |
 |
SOUTH KOREA | 7.8 % |
 |
AUSTRALIA | 6.2 % |
 |
SWEDEN | 3.8 % |
 |
SWITZERLAND | 3.1 % |
 |
FRANCE | 2.8 % |
 |
ITALY | 2.6 % |
 |
GERMANY | 2.5 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 3.5% | 19.4% | 14.7% | -1.8% | 4.5% | 4.6% | 3.9% | Volatility | 13.7% | 14.0% | 14.8% | 16.9% | 19.6% | 17.0% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.89 | 69% |
| MSCI EAFE | 1.02 | 95% |
| MSCI Emg Mkts | 0.88 | 69% |
Liquidity Measures
| Avg. volume (000) | 21 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $15,250 |
Technical Indicators
| Recent close | $32.47 |
| 30d moving avg. | $34.13 |
| Annualized volatility | 18.5% |
| Relative strength (RSI) | 43 |
| Short interest (ETF) | 0.0% |
| 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. PDN |
Expenses vs. PDN |
ALTAR Score™ vs. PDN |
|---|---|---|---|---|
| FNDC | Schwab Fundamental International Small Co. Index ETF | 56.5% | -10 bp | +0.2% |
| SCZ | iShares MSCI EAFE Small-Cap ETF | 44.5% | -9 bp | -0.4% |
| DFIS | Dimensional International Small Cap ETF | 39.9% | -10 bp | -0.1% |
| SCHC | Schwab International Small-Cap Equity ETF | 38.5% | -38 bp | -0.4% |
| GWX | SPDR S&P International Small Cap ETF | 32.2% | -9 bp | -0.5% |
| VSS | Vanguard FTSE All-World ex-US Small-Cap ETF | 31.0% | -42 bp | -0.3% |
| SCJ | iShares MSCI Japan Small-Cap ETF | 28.0% | +1 bp | -0.1% |
| DISV | Dimensional International Small Cap Value ETF | 27.1% | -7 bp | +2.2% |
| IEUS | iShares MSCI Europe Small-Cap ETF | 26.7% | -7 bp | -0.5% |
| DLS | WisdomTree International SmallCap Dividend Fund | 26.6% | +9 bp | +1.9% |
Risk and Returns: PDN 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 11/22/2024
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
PDN
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™
PDN
6.9%
Cat. Avg
7.3%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.3% and a standard deviation of
2.6%. PDN's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places PDN in the 44th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PDNSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive International Equity ETFs |
| # of ETFs | 77 |
| Avg. Expense Ratio | 38.8 bp |
| Std. Deviation | 21.2 bp |
| PDN (49 bp) Percentile rank | 69 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PDN | 49.0 | 18.2 | 67.2 |
| Peer Avg. | 26.6 | 13.3 | 39.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .