PIE
Invesco DWA Emerging Markets Momentum ETF

Price: $18.19
Change: $0.3 (-0.02%)
Last Updated:

Vitals

Issuer Invesco
Brand Invesco
Structure ETF
Expense Ratio 0.90%
ETF Home Page Home page
Inception Dec 28, 2007

Analyst Report

This ETF offers exposure to emerging market economies, standing out as a potential alternative to cap-weighted products such as EEM or VWO. Instead of simply including the largest emerging market stocks, PIE screens potential components based on relative strength factors, selecting approximately 100 securities. For investors who buy into the investment thesis behind the relative strength strategy, PIE might make for a better way to access emerging economies. The methodology may also be appealing because it avoids the concentration issues that can plague cap-weighted products; though PIE has only 100 or so components, exposure is spread very evenly across the names that make up the portfolio. It’s also likely to have a bigger allocation to small caps and mid caps, while EEM and VWO are primarily comprised of large cap stocks. The biggest drawback of PIE is the expenses; the management fee is considerably higher than low cost options such as VWO, and the potentially higher turnover may lead to less-than-optimal tax efficiency. If you buy the relative strength methodology, PIE might be very attractive. Otherwise, there are a number of alternatives, including the equal-weighted EWEM or the RAFI-weighted PXH.

ETF Database Themes

Asset Class Equity
Asset Class Size Large-Cap
Asset Class Style Blend
Region (General) Emerging Markets
Region (Specific) Broad

FactSet Classifications

Segment Equity: Emerging Markets - Total Market
Category Size and Style
Focus Total Market
Niche Broad-based
Strategy Momentum
Weighting Scheme Momentum

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $17.93
  • 52 Week Hi $27.23
  • AUM $171.3 M
  • Shares 9.3 M

Historical Trading Data

  • 1 Month Avg. Volume 85,233
  • 3 Month Avg. Volume 82,211

Alternative ETFs in the ETF Database Emerging Markets Equities Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest VWO 0.08% $70.7 B 18 M -16.11%
Largest (AUM) VWO 0.08% $70.7 B 18 M -16.11%
Most Liquid (Volume) EEM 0.68% $26.0 B 50 M -18.37%
Top YTD Performer TUR 0.57% $233.1 M 284,668 3.73%

Alternative ETFs in the FactSet Equity: Emerging Markets - Total Market Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest VWO 0.08% $70.7 B 18 M -16.11%
Largest (AUM) VWO 0.08% $70.7 B 18 M -16.11%
Most Liquid (Volume) EEM 0.68% $26.0 B 50 M -18.37%
Top YTD Performer EAPR 0.89% $51.3 M 32,245 -5.97%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

PIE ETF Database Category Average FactSet Segment Average
Number of Holdings 103 516 786
% of Assets in Top 10 28.33% 34.46% 29.95%
% of Assets in Top 15 37.17% 41.58% 34.77%
% of Assets in Top 50 72.45% 66.83% 56.22%

Size Comparison

PIE ETF Database Category Average FactSet Segment Average
Large (>12.9B) 13.10% 48.58% 52.81%
Mid (>2.7B) 39.77% 33.63% 33.05%
Small (>600M) 47.12% 13.64% 6.59%
Micro (<600M) 0.00% 2.78% 0.99%

PIE Valuation

This section compares the P/E ratio of this ETF to its peers.

PIE
P/E Ratio
18.42
ETF Database Category Average
P/E Ratio
13.09
FactSet Segment Average
P/E Ratio
12.45

PIE Dividend

This section compares the dividend yield of this ETF to its peers.

PIE ETF Database Category Average FactSet Segment Average
Dividend $ 0.14 $ 0.39 $ 0.31
Dividend Date 2021-09-20 N/A N/A
Annual Dividend Rate $ 0.30 $ 0.86 $ 0.71
Annual Dividend Yield 1.16% 2.48% 1.76%

PIE Price and Volume Charts

View charts featuring PIE price and volume data.

PIE Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: 0 1 Month Net Flows: 9.02 M 3 Month Net Flows: 6.12 M 6 Month Net Flows: 20.75 M 1 Year Net Flows: 21.52 M 3 Year Net Flows: 12.89 M 5 Year Net Flows: 8.99 M 10 Year Net Flows: 82.55 M

PIE Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

5 Day Net AUM Change: -12.65 M
1 Month Net AUM Change: -24.21 M
3 Month Net AUM Change: -40.03 M
6 Month Net AUM Change: -44.49 M
1 Year Net AUM Change: -60.63 M
3 Year Net AUM Change: 2.53 M
5 Year Net AUM Change: -8.47 M
10 Year Net AUM Change: 7.45 M

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for PIE on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the Emerging Markets Equities with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity B+ EEM
Expenses C SCHE
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

PIE Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

PIE
Expense Ratio
0.90%
ETF Database Category Average
Expense Ratio
0.49%
FactSet Segment Average
Expense Ratio
0.45%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Qualified dividends
Distributes K1 No
ESG Themes and Scores

PIE does not have an ESG score. There are no ESG themes that map to this ETF.

PIE Performance

This section shows how this ETF has performed relative to its peers.

PIE ETF Database
Category Average
Factset Segment
Average
1 Month Return -15.79% -8.41% -7.07%
3 Month Return -22.56% -16.18% -14.59%
YTD Return -28.71% -18.50% -15.89%
1 Year Return -32.44% -21.28% -19.23%
3 Year Return 7.53% -3.66% -1.35%
5 Year Return 16.79% 2.20% 4.35%

Geographic Exposure

The following charts reflect the geographic spread of PIE's underlying holdings.

Region Percentage
Asia Pacific 78.19%
Europe 8.28%
Other 7.51%
North, Central and South America 6.04%
Country Percentage
Taiwan 48.14%
China 9.22%
Thailand 7.6%
Other 7.51%
Hong Kong 6.85%
South Africa 6.69%
Indonesia 4.38%
Mexico 3.66%
Brazil 2.38%
Philippines 2.0%
Turkey 1.07%
United Kingdom 0.52%

Holdings Analysis

The following charts reflect the allocation of PIE's underlying holdings.

Sector Percentage
Finance 16.94%
Electronic Technology 16.81%
Process Industries 10.51%
Distribution Services 9.27%
Producer Manufacturing 9.2%
Energy Minerals 7.87%
CASH 7.51%
Transportation 4.67%
Utilities 4.56%
Consumer Durables 3.2%
Consumer Non-Durables 2.9%
Non-Energy Minerals 2.21%
Retail Trade 1.78%
Communications 0.94%
Miscellaneous 0.55%
Health Technology 0.55%
Industrial Services 0.55%
Market Cap Percentage
Small 47.12%
Mid 39.77%
Large 13.1%
Micro 0.0%
Region Percentage
Asset Percentage
Share/Common/Ordinary 83.62%
Non-Voting Depositary Receipt 7.6%
CASH 7.51%
Preferred Equity 1.29%
Sector Percentage
Finance 16.94%
Electronic Technology 16.81%
Process Industries 10.51%
Distribution Services 9.27%
Producer Manufacturing 9.2%
Energy Minerals 7.87%
CASH 7.51%
Transportation 4.67%
Utilities 4.56%
Consumer Durables 3.2%
Consumer Non-Durables 2.9%
Non-Energy Minerals 2.21%
Retail Trade 1.78%
Communications 0.94%
Miscellaneous 0.55%
Health Technology 0.55%
Industrial Services 0.55%

PIE Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility 221.23%
20 Day Volatility 24.63%
50 Day Volatility 27.66%
200 Day Volatility 26.46%
Beta 0.81
Standard Deviation 1.79%
5 Day Volatility
221.23%
Rank
3 of 73

20 Day Volatility
24.63%
Rank
19 of 73

50 Day Volatility
27.66%
Rank
15 of 73

200 Day Volatility
26.46%
Rank
24 of 72

Beta
0.81
Rank
39 of 70

Standard Deviation
1.79%
Rank
47 of 69

Technicals

  • 20 Day MA $20.02
  • 60 Day MA $21.06
  • MACD 15 Period -1.38
  • MACD 100 Period -3.86
  • Williams % Range 10 Day 88.32
  • Williams % Range 20 Day 93.31
  • RSI 10 Day 21
  • RSI 20 Day 30
  • RSI 30 Day 34
  • Ultimate Oscillator 40

Bollinger Bands

  • Lower Bollinger (10 Day) $18.09
  • Upper Bollinger (10 Day) $20.38
  • Lower Bollinger (20 Day) $18.03
  • Upper Bollinger (20 Day) $22.01
  • Lower Bollinger (30 Day) $18.35
  • Upper Bollinger (30 Day) $22.63

Support & Resistance

  • Support Level 1 $18.01
  • Support Level 2 $17.84
  • Resistance Level 1 $18.28
  • Resistance Level 2 $18.38

Stochastic

  • Stochastic Oscillator %D (1 Day) 69.93
  • Stochastic Oscillator %D (5 Day) 17.81
  • Stochastic Oscillator %K (1 Day) 54.92
  • Stochastic Oscillator %K (5 Day) 22.48

Tradability

  • Tracking Difference Median (%) -2.70
  • Tracking Difference Max Upside (%) 0.24
  • Tracking Difference Max Downside (%) -4.59
  • Median Premium Discount (%) -0.06
  • Maximum Premium Discount (%) 2.75
  • Average Spread (%) 8.80
  • Average Spread ($) 8.80

Financial Advisor Report

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Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

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