Invesco Dorsey Wright Developed Markets Momentum ETF
$53.29−0.92 (−1.70%)
- Expense ratio
- 0.80%
- Fund size
- $674M
- 1Y return
- +15.5%
- Yield · Last 12 months
- 1.72%
- Holdings
- 100
- Volume · 30D
- 0.1M sh
- NAV per share
- $53.92
- 52W range
The ETF.net PIZ Grade
Score 46 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.DScore 28Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 26Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 82Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 60Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 83Category rank
Our read on PIZ
CMomentum with a passport. PIZ ranks non-US developed-market stocks on relative strength and rebuilds around 100 winners each quarter. Same rulebook since 2007, one of the longest-running international momentum sleeves.
The Fund seeks developed-market equity exposure through the Dorsey Wright® Developed Markets Tech Leaders Index and generally invests at least 90% of assets in securities from developed economies.
Why people hold it
- The screen is the whole product: roughly 100 developed-market large caps picked for relative strength, then rebalanced and reconstituted every quarter.indexes.nasdaq.cominvesco.com
- Genuinely ex-US by construction. The index leaves out US companies listed on US exchanges, so it doesn't quietly re-buy the megacaps most portfolios already hold.invesco.com
- Trading since December 2007 on a published rulebook, with at least 90% of assets in developed-economy securities plus ADRs and GDRs, and distributions paid quarterly.invesco.com
Worth knowing
- At 0.80% a year it sits well above the typical fund in its international-equity group, where core builds like DFIC (0.22%) and AVDE (0.23%) anchor the cheap end.
- About 100 names reshuffled four times a year means real turnover and whatever country and sector tilts the screen throws up. It can look nothing like a broad index.invesco.com
- Relative strength buys what has already moved, and the roster resets only at quarter-end, so abrupt shifts in market leadership are the trade-off baked into the method.indexes.nasdaq.cominvesco.com
PIZ Holdings
- Stocks
- 100
- 25%
- CNSWF
Sectors
- Financials46.0%
- Industrials27.5%
- Technology15.4%
- Consumer Discr.3.9%
- Materials3.5%
- Energy1.7%
- Utilities1.6%
- Cons. Staples0.5%
Geography
- Canada19.71%
- Japan14.58%
- South Korea7.59%
- Switzerland7.54%
- United Kingdom6.54%
- Italy6.40%
- Sweden5.97%
- Spain4.57%
- 27.10%
Developed 90% · Emerging 10%
PIZ Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | PIZ |
|---|---|
| Year to date | +12.1% |
| 1 month | +1.4% |
| 3 months | −7.1% |
| 1 year | +15.5% |
| 3 years | +25.2% |
| 5 years | +7.8% |
| 10 years | +10.3% |
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 | PIZ |
|---|---|---|
| 2026 YTD | +12.1% | |
| 2025 | +37.2% | |
| 2024 | +16.3% | |
| 2023 | +18.0% | |
| 2022 | −30.5% | |
| 2021 | +20.5% | |
| 2020 | +18.0% |
PIZ in the news
ETF.net Research hasn’t filed on PIZ yet — coverage lands here as it’s written.
PIZ Dividends
- 1.72%
- $0.93
- $0.13 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 21, 2026 | Pays Sep 25, 2026 | $0.13 |
| Jun 22, 2026 | Jun 26, 2026 | $0.45 |
| Mar 23, 2026 | Mar 27, 2026 | $0.15 |
| Dec 22, 2025 | Dec 26, 2025 | $0.20 |
| Sep 22, 2025 | Sep 26, 2025 | $0.03 |
| Jun 23, 2025 | Jun 27, 2025 | $0.38 |
| Mar 24, 2025 | Mar 28, 2025 | $0.15 |
| Dec 23, 2024 | Dec 27, 2024 | $0.29 |
| Sep 23, 2024 | Sep 27, 2024 | $0.03 |
| Jun 24, 2024 | Jun 28, 2024 | $0.20 |
| Mar 18, 2024 | Mar 22, 2024 | $0.09 |
| Dec 18, 2023 | Dec 22, 2023 | $0.12 |
PIZ Risk
- 17.3%
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.
- 1.02
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.
- −40.3%
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.
- 1.17
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PIZ Cost
- The middle half of International Active Equity funds
- Median 0.58%
38 of the 55 International Active Equity funds charge less.