Invesco Dorsey Wright Emerging Markets Momentum ETF
$34.80−0.23 (−0.65%)
- 0.90%
- $275M
- +56.1%
- 2.12%
- 0.1M sh
- $34.97
- low $22.58high $35.79
The ETF.net PIE Grade
D
Score 31 out of 100
- 9 of 10
Score 31 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.F5 out of 100Rank 10 of 10Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D37 out of 100Rank 8 of 10Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C52 out of 100Rank 4 of 10Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B59 out of 100Rank 4 of 10Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B57 out of 100Rank 5 of 10
Our read on PIE
DA 2007-vintage emerging-markets fund that ignores market cap and follows price trends instead: Dorsey Wright's relative-strength rules rotate the portfolio toward the EM stocks already leading and away from the laggards.
Seeks exposure to emerging-market equities selected using Dorsey Wright’s relative-strength (momentum) rules, via a Dorsey Wright emerging-markets momentum index.
Why people hold it
- Momentum is the entire thesis, not a tilt: a Dorsey Wright relative-strength index selects roughly 100 emerging-market names on price trend rather than size.
- Live since 2007, so the rules have run through multiple EM boom and bust cycles rather than a single favorable stretch.
- Spreads across roughly 100 stocks, pays quarterly, and trades with moderate volume, so it is not a thinly traded curiosity despite the specialist strategy.
Worth knowing
- At 0.90% a year it costs more than the typical active EM fund (0.65% cohort median) and roughly triple systematic peers like AVEM and DFEM (0.33% and 0.39%).
- Chasing relative strength means country, sector and turnover can look nothing like a broad EM index, and the ride is bumpier than a cap-weighted core holding.
- It lands in the lower half of our active emerging-markets group, where the funds at the top are broader and considerably cheaper.
PIE Holdings
- Stocks
- 109
- 26%
- 6257.TW
Sectors
- Technology45.0%
- Financials15.7%
- Industrials15.1%
- Materials9.9%
- Consumer Discretionary3.4%
- Real Estate3.1%
- Energy2.6%
- Communication1.9%
- Health Care1.5%
- Consumer Staples1.1%
- Utilities0.7%
Geography
- Taiwan (Province of China)62.64%
- China9.65%
- Thailand8.05%
- South Africa5.40%
- Mexico2.57%
- Hong Kong2.30%
- Brazil1.81%
- Hungary1.73%
- 5.85%
Developed 2% · Emerging 98%
PIE Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
PIE$15,611
Returns run to the Oct 12, 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.
| Period | PIE |
|---|---|
| Year to date | +50.4% |
| 1 month | +5.1% |
| 3 months | +7.6% |
| 1 year | +56.1% |
| 3 years | +26.5% |
| 5 years | +11.0% |
| 10 years | +10.8% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PIE |
|---|---|---|
| 2026 YTD | +50.4% | |
| 2025 | +26.0% | |
| 2024 | −0.3% | |
| 2023 | +13.7% | |
| 2022 | −28.8% | |
| 2021 | +14.3% | |
| 2020 | +21.2% |
PIE in the news
PIE Dividends
- 2.12%
- $0.74
- $0.26 per share
- Quarterly
Distribution history
PIE Risk
- 20.7%
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.
- 0.97
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.
- −36.8%
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.
- 1.05
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PIE Cost
0.90%
PIE0.90%
- The middle half of Emerging Markets Factor Index funds
- Median 0.45%
Every other Emerging Markets Factor Index fund charges less.
Other funds in Emerging Markets Factor Index
- CBLESInspire Global Hope ETFExpense ratio 0.60%1 year return +16.7%
- CEEMOInvesco S&P Emerging Markets Momentum ETFExpense ratio 0.29%1 year return +32.4%
- CDEHPDimensional - Emerging Markets High Profitability ETFExpense ratio 0.44%1 year return +37.2%
- DECOWPacer Emerging Markets Cash Cows 100 ETFExpense ratio 0.70%1 year return +21.4%
- DFLNFirst Trust Latin America AlphaDEX FundExpense ratio 0.80%1 year return +44.6%