PXI
Invesco Dorsey Wright Energy Momentum ETF
The Invesco DWA Energy Momentum Portfolio tracks an index of U.S. energy firms selected and weighted by price momentum.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
46.8 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) | $47 |
| 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 +
| TEXAS PACIFIC LAND CORPORATION | 8.3 % |
| TARGA RESOURCES CORP | 7.4 % |
| WILLIAMS COS INC | 3.4 % |
| WEATHERFORD INTERNATIONAL PL | 3.4 % |
| KINDER MORGAN INC | 3.1 % |
| CHENIERE ENERGY INC | 3.1 % |
| BAKER HUGHES COMPANY CLASS A | 2.8 % |
| EXXON MOBIL CORP | 2.7 % |
| COMSTOCK RESOURCES INC | 2.7 % |
| ANTERO RESOURCES CORP | 2.7 % |
Constituent Breakdown
| Number of holdings | 35 |
| Herfindahl-Hirschman Index | 328 |
| Wgt avg mkt cap (mns) | $43,837 |
| Large cap (>$10bn) | 54.9% |
| Mid cap ($2-10bn) | 30.1% |
| Small cap (<$2bn) | 15.1% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 87.3 % |
 |
SWITZERLAND | 3.4 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -0.2% | -0.9% | 2.4% | 5.2% | 17.7% | -0.7% | -- | 3.0% |
| Dividend Yield | -1.3% | -8.7% | 4.0% | -2.1% | 18.0% | 1.6% | -- | 1.0% |
| Total Returns | -1.5% | -9.6% | 6.5% | 3.1% | 35.7% | 0.9% | -- | 3.9% | Ann. Volatility | 23.5% | 23.8% | 25.5% | 33.4% | 44.2% | 37.7% | -- | 35.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.05 | 37% |
| MSCI EAFE | 0.86 | 25% |
| MSCI Emg Mkts | 0.47 | 7% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.14% |
| ADV of underlying (mns) | $6,222 |
Technical Indicators
| Recent close | $38.91 |
| 30d moving avg. | $41.14 |
| Annualized volatility | 30.0% |
| Relative strength (RSI) | 44 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 6.5% |
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. PXI |
Expenses vs. PXI |
ALTAR Score™ vs. PXI |
|---|---|---|---|---|
| XOP | SPDR S&P Oil & Gas Exploration & Production ETF | 43.6% | -25 bp | +8.3% |
| RSPG | Invesco S&P 500 Equal Weight Energy ETF | 43.0% | -20 bp | +2.1% |
| FXN | First Trust Energy AlphaDEX Fund | 42.7% | +2 bp | +6.6% |
| FTXN | First Trust Nasdaq Oil & Gas ETF | 42.6% | 0 bp | +3.9% |
| IYE | iShares U.S. Energy ETF | 41.8% | -20 bp | +0.1% |
| VDE | Vanguard Energy ETF | 41.3% | -50 bp | +0.3% |
| FENY | Fidelity MSCI Energy Index ETF | 41.1% | -52 bp | +0.3% |
| XLE | Energy Select Sector SPDR Fund | 38.4% | -52 bp | +0.2% |
| DRLL | Strive U.S. Energy ETF | 33.2% | -19 bp | +1.5% |
| IGE | iShares North American Natural Resources ETF | 32.3% | -19 bp | -1.4% |
Risk and Returns: PXI 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2024 | 2025E | Fwd Est | 2026E | |
| 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 4/23/2025
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
PXI
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™
PXI
9.9%
Cat. Avg
6.1%
ALTAR Score™ Calculation
Category Overview
There are 960 funds in the US Equity category, with an average ALTAR Score™
of 6.1% and a standard deviation of
3.0%. PXI's ALTAR Score™ is approximately
1.3 standard deviations
above
the category average. This places PXI in the 90th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PXISELL
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 |
| PXI (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) |
|
|---|---|---|---|
| PXI | 60.0 | 13.5 | 73.5 |
| Peer Avg. | 43.7 | 16.2 | 59.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .