PIE
Invesco Dorsey Wright Emerging Markets Momentum ETF
Invesco DWA Emerging Markets Technical Leaders Portfolio seeks investment results that correspond to the price and yield of the Dorsey Wright Emerging Markets Technical Leaders Index.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
116.9 M
ASSETS UNDER MGMT
90 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 28, 2007 |
| Assets (mns) | $117 |
| Expense ratio | 90 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 +
| WINWAY TECHNOLOGY CO LTD | 5.5 % |
| TOPCO SCIENTIFIC CO LTD | 3.3 % |
| QL RESOURCES BHD | 3.0 % |
| CHAROEN POKPHAND ENTERPRISE | 3.0 % |
| TAIWAN SEMICONDUCTOR MANUFAC | 3.0 % |
| CLICKS GROUP LTD | 2.5 % |
| SHINY CHEMICAL INDUSTRIAL CO., LTD. | 2.4 % |
| GOLDSUN DEV & CONST | 2.3 % |
| LIEN HWA INDUSTRIAL | 2.1 % |
| KAORI HEAT TREATMENT CO., LTD. | 2.0 % |
Constituent Breakdown
| Number of holdings | 93 |
| Herfindahl-Hirschman Index | 170 |
| Wgt avg mkt cap (mns) | $34,027 |
| Large cap (>$10bn) | 24.3% |
| Mid cap ($2-10bn) | 42.0% |
| Small cap (<$2bn) | 31.4% |
| Developed mkts. | 1.8% |
| Emerging mkts. | 98.2% |
Country Exposure
 |
TAIWAN | 45.0 % |
 |
MALAYSIA | 8.9 % |
 |
SOUTH AFRICA | 8.7 % |
 |
CHINA | 7.8 % |
 |
BRAZIL | 7.5 % |
 |
TURKEY | 4.4 % |
 |
THAILAND | 4.1 % |
 |
MEXICO | 2.2 % |
 |
HUNGARY | 1.8 % |
 |
PHILIPPINES | 1.6 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 4.3% | 18.2% | 16.5% | -3.4% | 4.4% | 2.9% | 0.2% | Volatility | 18.2% | 17.7% | 17.3% | 18.9% | 23.4% | 20.9% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.75 | 49% |
| MSCI EAFE | 0.84 | 63% |
| MSCI Emg Mkts | 0.94 | 78% |
Liquidity Measures
| Avg. volume (000) | 30 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.40% |
| ADV of underlying (mns) | $4,068 |
Technical Indicators
| Recent close | $19.49 |
| 30d moving avg. | $20.51 |
| Annualized volatility | 18.6% |
| Relative strength (RSI) | 47 |
| Short interest (ETF) | 0.4% |
| Short interest (underlying) | 0.0% |
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. PIE |
Expenses vs. PIE |
ALTAR Score™ vs. PIE |
|---|---|---|---|---|
| FEM | First Trust Emerging Markets AlphaDEX Fund | 13.6% | -10 bp | +7.0% |
| FTHF | First Trust Emerging Markets Human Flourishing ETF | 13.6% | -15 bp | +2.9% |
| EWT | iShares MSCI Taiwan ETF | 13.5% | -32 bp | -0.5% |
| FLTW | Franklin FTSE Taiwan ETF | 13.0% | -71 bp | -0.3% |
| EEMO | Invesco S&P Emerging Markets Momentum ETF | 11.1% | -61 bp | -0.6% |
| EYLD | Cambria Emerging Shareholder Yield ETF | 11.1% | -24 bp | +7.2% |
| KEMX | KraneShares MSCI Emerging Markets EX China Index ETF | 11.0% | -66 bp | +3.1% |
| EMXF | iShares ESG Advanced MSCI EM ETF | 10.3% | -74 bp | +0.7% |
| XCNY | SPDR S&P Emerging Markets ex-China ETF | 10.3% | -75 bp | +0.2% |
| JPEM | JPMorgan Diversified Return Emerging Markets Equity ETF | 10.2% | -46 bp | +4.5% |
Risk and Returns: PIE 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 11/15/2024
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
PIE
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
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
PIE
6.2%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. PIE's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places PIE in the 35th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PIESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| PIE (90 bp) Percentile rank | 95 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PIE | 90.0 | 39.7 | 129.7 |
| Peer Avg. | 53.4 | 25.5 | 78.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .