PFI
Invesco Dorsey Wright Financial Momentum ETF
The Invesco DWA Financial Momentum Portfolio tracks an index of U.S. financial firms selected and weighted by price momentum.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
76.7 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) | $77 |
| 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 +
| FTAI AVIATION LTD | 8.5 % |
| MASTERCARD INCORPORATED CLASS A | 5.2 % |
| ARES MANAGEMENT LP | 4.6 % |
| AMERIPRISE FINANCIAL INC | 4.5 % |
| KKR & CO LP | 3.9 % |
| JPMORGAN CHASE & CO | 3.7 % |
| ROBINHOOD MARKETS, INC. CLASS A | 3.5 % |
| VISA INC. CLASS A | 3.4 % |
| JEFFERIES FINANCIAL GROUP INC. | 2.9 % |
| EVERCORE PARTNERS INC-CL A | 2.9 % |
Constituent Breakdown
| Number of holdings | 41 |
| Herfindahl-Hirschman Index | 327 |
| Wgt avg mkt cap (mns) | $104,659 |
| Large cap (>$10bn) | 71.3% |
| Mid cap ($2-10bn) | 24.4% |
| Small cap (<$2bn) | 4.3% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 84.6 % |
 |
PUERTO RICO | 2.5 % |
 |
BERMUDA | 1.8 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 43.0% | 50.3% | 23.0% | 7.2% | 12.7% | 9.3% | 6.8% | Volatility | 17.8% | 17.2% | 17.6% | 21.0% | 26.0% | 21.2% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.00 | 65% |
| MSCI EAFE | 0.88 | 49% |
| MSCI Emg Mkts | 0.55 | 19% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.33% |
| ADV of underlying (mns) | $9,107 |
Technical Indicators
| Recent close | $57.63 |
| 30d moving avg. | $61.79 |
| Annualized volatility | 21.9% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 4.6% |
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. PFI |
Expenses vs. PFI |
ALTAR Score™ vs. PFI |
|---|---|---|---|---|
| FNCL | Fidelity MSCI Financials Index ETF | 24.7% | -52 bp | +0.2% |
| VFH | Vanguard Financials ETF | 24.6% | -50 bp | +0.3% |
| XLF | Financial Select Sector SPDR Fund | 24.0% | -51 bp | -0.1% |
| IYG | iShares US Financial Services ETF | 21.1% | -20 bp | -0.5% |
| KCE | SPDR S&P Capital Markets ETF | 20.8% | -25 bp | +0.5% |
| DVOL | First Trust Dorsey Wright Momentum & Low Volatility ETF | 20.4% | 0 bp | -1.5% |
| RSPF | Invesco S&P 500 Equal Weight Financials ETF | 18.3% | -20 bp | -0.7% |
| DDIV | First Trust Dorsey Wright Momentum & Dividend ETF | 18.2% | 0 bp | +0.9% |
| IXG | iShares Global Financials ETF | 17.8% | -18 bp | +0.8% |
| KIE | SPDR S&P Insurance ETF | 17.3% | -25 bp | +0.8% |
Risk and Returns: PFI 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 12/20/2024
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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
PFI
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™
PFI
5.6%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. PFI's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places PFI in the 50th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PFISELL
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 |
| PFI (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) |
|
|---|---|---|---|
| PFI | 60.0 | 33.1 | 93.1 |
| Peer Avg. | 44.0 | 16.8 | 60.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .