This ETF offers targeted exposure toward the U.S. consumer discretionary sector, making it a potentially useful tool for those employing a sector rotation strategy or for investors looking to tilt their portfolio towards a high beta sector that can perform well in bull markets. PEZ is one of the "Dynamic" ETFs offered by PowerShares, meaning that the underlying index utilizes a quant based analytical framework to select holdings. In exchange for this attempt to generate alpha, investors can expect to pay a bit more; PEZ is more expensive than FCL and XLY. For those who believe the Intellidex methodology has the ability to add value, PEZ might be an interesting play. But considering the less-than-impressive track record and expense differential, there are probably better ETF options for exposure to this sector.