PTH
Invesco Dorsey Wright Healthcare Momentum ETF
The Invesco DWA Healthcare Momentum Portfolio tracks an index of U.S. healthcare firms selected and weighted by price momentum.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
148.6 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) | $149 |
| 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 +
| SOLENO THERAPEUTICS INC | 6.3 % |
| ELI LILLY & CO | 4.8 % |
| VAXCYTE, INC. | 4.6 % |
| INSMED INC | 3.9 % |
| TENET HEALTHCARE CORP | 3.4 % |
| HCA HOLDINGS INC | 3.1 % |
| CASSAVA SCIENCES, INC. | 3.0 % |
| NATERA INC | 2.8 % |
| INTUITIVE SURGICAL INC | 2.6 % |
| ABBVIE INC | 2.6 % |
Constituent Breakdown
| Number of holdings | 53 |
| Herfindahl-Hirschman Index | 251 |
| Wgt avg mkt cap (mns) | $55,860 |
| Large cap (>$10bn) | 31.3% |
| Mid cap ($2-10bn) | 45.5% |
| Small cap (<$2bn) | 23.2% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 89.8 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 22.6% | 42.9% | -37.1% | -33.2% | -9.3% | -0.4% | 3.8% | Volatility | 25.1% | 24.5% | 25.2% | 25.5% | 29.5% | 27.2% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.80 | 9% |
| MSCI EAFE | 0.69 | 7% |
| MSCI Emg Mkts | 0.09 | 0% |
Liquidity Measures
| Avg. volume (000) | 6 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.22% |
| ADV of underlying (mns) | $10,252 |
Technical Indicators
| Recent close | $46.07 |
| 30d moving avg. | $45.96 |
| Annualized volatility | 47.6% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 6.8% |
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. PTH |
Expenses vs. PTH |
ALTAR Score™ vs. PTH |
|---|---|---|---|---|
| XBI | SPDR S&P BIOTECH ETF | 21.5% | -25 bp | -0.8% |
| PSCH | Invesco S&P SmallCap Health Care ETF | 20.2% | -31 bp | +6.7% |
| XHS | SPDR S&P Health Care Services ETF | 16.6% | -25 bp | +8.3% |
| VHT | Vanguard Health Care ETF | 16.1% | -50 bp | +7.9% |
| FHLC | Fidelity MSCI Health Care Index ETF | 15.8% | -52 bp | +8.2% |
| FXH | First Trust Health Care AlphaDEX Fund | 15.7% | +2 bp | +9.6% |
| DWAS | Invesco Dorsey Wright SmallCap Momentum ETF | 14.3% | 0 bp | +4.1% |
| XLV | Health Care Select Sector SPDR Fund | 14.2% | -51 bp | +9.6% |
| SBIO | ALPS Medical Breakthroughs ETF | 14.0% | -10 bp | +0.4% |
| HELX | Franklin Genomic Advancements ETF | 13.9% | -10 bp | +2.8% |
Risk and Returns: PTH 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 10/29/2024
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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
PTH
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™
PTH
-2.4%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 949 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.5%. PTH's ALTAR Score™ is approximately
3.3 standard deviations
below
the category average. This places PTH in the 1st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PTHSELL
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 |
| PTH (60 bp) Percentile rank | 67 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PTH | 60.0 | 22.4 | 82.4 |
| Peer Avg. | 36.7 | 15.2 | 51.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .