PXE
Invesco Energy Exploration & Production ETF
The Invesco Dynamic Energy Exploration & Production Portfolio ETF tracks an index of U.S. energy exploration and production companies selected and weighted by growth and value metrics.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
120.6 M
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 26, 2005 |
| Assets (mns) | $121 |
| Expense ratio | 60 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| GULFPORT ENERGY CORP | 6.0 % |
| COTERRA ENERGY INC. | 5.2 % |
| EOG RESOURCES, INC. | 5.0 % |
| PHILLIPS 66 | 5.0 % |
| DIAMONDBACK ENERGY INC | 5.0 % |
| VALERO ENERGY CORP | 4.9 % |
| ENCANA CORP | 4.9 % |
| MARATHON PETROLEUM | 4.7 % |
| DEVON ENERGY CORPORATION | 4.6 % |
| CNX RESOURCES CORPORATION | 3.8 % |
Constituent Breakdown
| Number of holdings | 32 |
| Herfindahl-Hirschman Index | 383 |
| Wgt avg mkt cap (mns) | $20,726 |
| Large cap (>$10bn) | 37.4% |
| Mid cap ($2-10bn) | 40.3% |
| Small cap (<$2bn) | 22.3% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 89.3 % |
 |
CANADA | 4.9 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -2.4% | -6.0% | 7.0% | 19.8% | 18.0% | 1.8% | 5.3% | Volatility | 19.8% | 22.3% | 33.4% | 35.8% | 44.2% | 37.6% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.80 | 19% |
| MSCI EAFE | 0.66 | 13% |
| MSCI Emg Mkts | 0.35 | 4% |
Liquidity Measures
| Avg. volume (000) | 50 |
| Turnover | 1.2% |
| Avg. Bid/Ask (% of price) | 0.08% |
| ADV of underlying (mns) | $4,211 |
Technical Indicators
| Recent close | $28.85 |
| 30d moving avg. | $30.63 |
| Annualized volatility | 32.4% |
| Relative strength (RSI) | 45 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 5.4% |
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. PXE |
Expenses vs. PXE |
ALTAR Score™ vs. PXE |
|---|---|---|---|---|
| XOP | SPDR S&P Oil & Gas Exploration & Production ETF | 54.8% | -25 bp | -3.7% |
| IEO | iShares U.S. Oil & Gas Exploration & Production ETF | 46.0% | -20 bp | -3.6% |
| FCG | First Trust Natural Gas ETF | 44.4% | 0 bp | -0.5% |
| FXN | First Trust Energy AlphaDEX Fund | 34.8% | +2 bp | -7.7% |
| DRLL | Strive U.S. Energy ETF | 33.2% | -19 bp | -5.7% |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 32.8% | 0 bp | -5.1% |
| RSPG | Invesco S&P 500 Equal Weight Energy ETF | 30.5% | -20 bp | -5.2% |
| PXI | Invesco Dorsey Wright Energy Momentum ETF | 27.2% | 0 bp | -7.8% |
| FENY | Fidelity MSCI Energy Index ETF | 21.3% | -52 bp | -6.8% |
| CRAK | VanEck Oil Refiners ETF | 21.0% | +1 bp | +1.8% |
Risk and Returns: PXE 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
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
PXE
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
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
PXE
14.2%
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%. PXE's ALTAR Score™ is approximately
3.5 standard deviations
above
the category average. This places PXE in the 99th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PXESELL
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 |
| PXE (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) |
|
|---|---|---|---|
| PXE | 60.0 | 7.7 | 67.7 |
| Peer Avg. | 44.6 | 16.8 | 61.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .