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Launched · SEC filings

Invesco Dorsey Wright Consumer Cyclicals Momentum ETF

PEZNasdaqInvescoD

$102.03−0.32 (−0.31%)

As of Nov 10, 2026, 11:15 AM ET

D25/ 100

Rank 15 of 15 in Consumer Discretionary (Broad)

D25/100Rank 15 of 15inConsumer Discretionary (Broad)
Intraday session: down, 22 prints from 102.35 to 102.03. Range 101.44 to 102.07. Use the arrow keys to read each point.101.40101.60101.80102.2010 AM12 PM2 PM4 PM
Expense ratio
0.60%*
Fund size
$22M
1Y total return
+6.8%
Yield · Last 12 months
0.38%
Holdings
34
Avg volume · 30D
658 sh
52W range
low $90.81high $110.43
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Aug 31, 2028. Without it: 0.97%.

The ETF.net PEZ Grade

Based on 5 of 6 pillars

D

Score 25 out of 100

Category
Consumer Discretionary (Broad)⁠
Rank
15 of 15
Six-pillar profile for PEZ. Scores out of 100: Cost 4, Risk 31, Mission not scored, Tradability 36, Holdings 64, Durability 29. Strongest: Holdings (64). Weakest: Cost (4). Based on 5 of 6 pillars.

Score 25 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F4 out of 100
    Rank 14 of 15

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D31 out of 100
    Rank 13 of 15

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D36 out of 100
    Rank 10 of 15

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B64 out of 100
    Rank 6 of 15

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D29 out of 100
    Rank 12 of 15

Our read on PEZ

ETF.net Research

In short

DMost consumer discretionary funds own the sector by size. PEZ owns the trend: roughly 30 cyclical stocks picked and weighted by price momentum, reshuffled every quarter. Fee is 0.60% net of a waiver through August 31, 2028.

Stated mandate

The fund tracks an index designed to identify companies exhibiting relative strength, or momentum, within the consumer cyclicals segment.

Why people hold it

  • The index ranks consumer cyclicals by relative strength, holds at least 30 of them, and reconstitutes every January, April, July and October, so fading names get cut on a schedule.nasdaqomx.com
  • Weights come from each stock's momentum score, not its market cap, so the portfolio can reach well past the sector's handful of giants.nasdaqomx.com
  • Listed since October 2006, it has run the same Dorsey Wright momentum rules on US consumer cyclicals through multiple consumer cycles. Not a recent launch chasing a theme.

Worth knowing

  • Cost sits above the category median: 0.60% net of a waiver through August 31, 2028, against a 0.97% gross ratio, versus 0.08% for XLY and 0.09% for VCR.
  • One of the smaller and thinner-traded funds in its category, so the bid-ask spread is a real part of the cost of getting in and out.
  • A full quarterly rebuild means heavy turnover and a roster that can look unrecognizable year to year; momentum rules can get whipsawed when sector leadership flips.nasdaqomx.com

PEZ Performance

Launched Oct 12, 2006

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

PEZ$10,678
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. PEZ $10,678. SPY $11,339. Use the arrow keys to read each point.$10,000$11,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for PEZ. Periods over one year show the average yearly return.
PeriodPEZ
Year to date−1.2%
1 month+7.5%
3 months−1.3%
1 year+6.8%
3 yearsper year+15.7%
5 yearsper year+0.8%
10 yearsper year+10.0%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PEZ
YearReturn barPEZ
2026 YTD−1.2%
2025+5.4%
2024+20.1%
2023+29.5%
2022−29.6%
2021+20.4%
2020+39.0%

PEZ in the news

PEZ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
0.38%Last 12 months
Payout per share
$0.38Last 12 months
Last payment
$0.13 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 30 payments from 2017 to 2026 YTD. Jun 16, 2017 $0.03; Sep 18, 2017 $0.14; Dec 18, 2017 $0.05; Mar 19, 2018 $0.02; Jun 18, 2018 $0.08; Sep 24, 2018 $0.04; Dec 24, 2018 $0.05; Sep 23, 2019 $0.002; Dec 23, 2019 $0.003; Mar 23, 2020 $0.10; Jun 22, 2020 $0.04; Sep 21, 2020 $0.07; Dec 21, 2020 $0.08; Mar 22, 2021 $0.01; Jun 21, 2021 $0.01; Sep 20, 2021 $0.08; Dec 20, 2021 $0.11; Mar 21, 2022 $0.01; Jun 21, 2022 $0.01; Sep 19, 2022 $0.14; Dec 19, 2022 $0.11; Mar 20, 2023 $0.23; Jun 20, 2023 $0.14; Sep 18, 2023 $0.09; Dec 18, 2023 $0.03; Mar 18, 2024 $0.12; Jun 23, 2025 $0.12; Mar 23, 2026 $0.10; Jun 22, 2026 $0.15; Sep 21, 2026 $0.13. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 21, 2026Sep 25, 2026$0.13
Jun 22, 2026Jun 26, 2026$0.15
Mar 23, 2026Mar 27, 2026$0.10
Jun 23, 2025Jun 27, 2025$0.12
Mar 18, 2024Mar 22, 2024$0.12
Dec 18, 2023Dec 22, 2023$0.03
Sep 18, 2023Sep 22, 2023$0.09
Jun 20, 2023Jun 23, 2023$0.14
Mar 20, 2023Mar 24, 2023$0.23
Dec 19, 2022Dec 23, 2022$0.11
Sep 19, 2022Sep 23, 2022$0.14
Jun 21, 2022Jun 30, 2022$0.01

See all 57 payments⁠

$10,000 in PEZ 10 years ago paid $578 in dividends.⁠

PEZ Risk

Risk pillarD31 out of 100Rank 13 of 15 in Consumer Discretionary (Broad)
How much the fund’s monthly returns vary, scaled to a year.
23.3%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.65
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−41.7%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.49
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

PEZ Cost

Compare PEZ and XLY

Overpaying vs XLY, cheapest in Consumer Discretionary (Broad)

$10,128

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PEZ 0.60%

    $11,817

  • XLY 0.08% Cheapest

    $1,689

$10,000
30 years

Cost over time

  • PEZ 0.60%
  • XLY 0.08%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530PEZ $11,817XLY $1,689

Year by year

YearPEZXLYOverpaying
10$1,076$147$929
20$4,116$575$3,541
30$11,817$1,689$10,128
How the 0.60% is worked out

Full fee 0.97%− waiver 0.37%= you pay 0.60%

The waiver ends Aug 31, 2028. After that the fee is 0.97% unless Invesco renews it. Source: prospectus, Aug 2026.

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