PRN
Invesco Dorsey Wright Industrials Momentum ETF
The Invesco DWA Industrials Momentum Portfolio tracks an index of U.S. industrial firms selected and weighted by price momentum.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
393.5 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) | $393 |
| 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 +
| COMFORT SYSTEMS USA INC | 4.2 % |
| NUSCALE POWER CORPORATION CLASS A | 4.1 % |
| QUANTA SERVICES INC | 4.1 % |
| AXON ENTERPRISE INC | 3.8 % |
| WW GRAINGER INC | 3.7 % |
| WATSCO INC | 3.7 % |
| PARKER HANNIFIN CORP | 3.5 % |
| HEICO CORP | 3.5 % |
| TRANE TECHNOLOGIES PLC | 3.4 % |
| CINTAS CORP | 3.2 % |
Constituent Breakdown
| Number of holdings | 41 |
| Herfindahl-Hirschman Index | 281 |
| Wgt avg mkt cap (mns) | $36,073 |
| Large cap (>$10bn) | 67.3% |
| Mid cap ($2-10bn) | 20.0% |
| Small cap (<$2bn) | 12.7% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.1 % |
 |
IRELAND | 3.4 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 50.4% | 65.8% | 39.9% | 16.2% | 21.6% | 14.7% | 12.0% | Volatility | 21.1% | 20.8% | 20.4% | 23.0% | 26.3% | 22.1% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.18 | 73% |
| MSCI EAFE | 1.01 | 53% |
| MSCI Emg Mkts | 0.64 | 21% |
Liquidity Measures
| Avg. volume (000) | 36 |
| Turnover | 1.4% |
| Avg. Bid/Ask (% of price) | 0.26% |
| ADV of underlying (mns) | $5,980 |
Technical Indicators
| Recent close | $157.33 |
| 30d moving avg. | $172.77 |
| Annualized volatility | 24.3% |
| Relative strength (RSI) | 56 |
| Short interest (ETF) | 0.4% |
| Short interest (underlying) | 5.1% |
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. PRN |
Expenses vs. PRN |
ALTAR Score™ vs. PRN |
|---|---|---|---|---|
| PAVE | Global X U.S. Infrastructure Development ETF | 23.0% | -13 bp | +2.4% |
| PDP | Invesco Dorsey Wright Momentum ETF | 22.4% | +2 bp | +0.2% |
| PPA | Invesco Aerospace & Defense ETF | 19.5% | -2 bp | -0.7% |
| AIRR | First Trust RBA American Industrial Renaissance ETF | 19.1% | +10 bp | +2.1% |
| FXR | First Trust Industrials/Producer Durables AlphaDEX Fund | 18.5% | +1 bp | +3.3% |
| HWAY | Themes US Infrastructure ETF | 17.8% | -31 bp | +3.4% |
| XLI | Industrial Select Sector SPDR Fund | 17.8% | -51 bp | +1.1% |
| VIS | Vanguard Industrials ETF | 17.3% | -50 bp | +1.2% |
| FIDU | Fidelity MSCI Industrial Index ETF | 16.6% | -52 bp | +1.6% |
| SEIM | SEI Enhanced U.S. Large Cap Momentum Factor ETF | 16.2% | -45 bp | +1.0% |
Risk and Returns: PRN 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
PRN
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™
PRN
3.2%
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%. PRN's ALTAR Score™ is approximately
0.9 standard deviations
below
the category average. This places PRN in the 18th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PRNSELL
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 |
| PRN (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) |
|
|---|---|---|---|
| PRN | 60.0 | 26.1 | 86.1 |
| Peer Avg. | 37.3 | 15.0 | 52.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .