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Launched · SEC filings

Invesco Dorsey Wright Developed Markets Momentum ETF

PIZNasdaqInvescoC

$49.00+0.27 (+0.55%)

At close: Nov 2, 2026, 4:00 PM ET

C40/ 100

Rank 35 of 56 in International Active Equity

C40/100Rank 35 of 56inInternational Active Equity
Intraday session: up, 79 prints from 48.73 to 49.00. Range 48.83 to 50.02. Use the arrow keys to read each point.49.2549.5049.7550.0010 AM12 PM2 PM4 PM
Expense ratio
0.80%
Fund size
$577M
1Y total return
+2.5%
Yield · Last 12 months
1.91%
Holdings
110
Avg volume · 30D
75.8K sh
52W range
low $45.74high $59.47
Launched
Filings
SEC EDGAR

The ETF.net PIZ Grade

Based on 5 of 6 pillars

C

Score 40 out of 100

Category
International Active Equity⁠
Rank
35 of 56
Six-pillar profile for PIZ. Scores out of 100: Cost 19, Risk 22, Mission not scored, Tradability 76, Holdings 57, Durability 82. Strongest: Durability (82). Weakest: Cost (19). Based on 5 of 6 pillars.

Score 40 of 100 falls in the C 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.
    F19 out of 100
    Rank 44 of 56

  • 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.
    F22 out of 100
    Rank 51 of 56

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A76 out of 100
    Rank 5 of 56

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B57 out of 100
    Rank 28 of 52

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A82 out of 100
    Rank 7 of 56

Our read on PIZ

ETF.net Research

In short

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.

Stated mandate

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.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.nasdaq.cominvesco.com

PIZ Performance

Launched Dec 28, 2007

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

PIZ$10,254
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. PIZ $10,254. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 PIZ. Periods over one year show the average yearly return.
PeriodPIZ
Year to date+0.8%
1 month−8.1%
3 months−5.2%
1 year+2.5%
3 yearsper year+22.9%
5 yearsper year+5.9%
10 yearsper year+9.8%

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 PIZ
YearReturn barPIZ
2026 YTD+0.8%
2025+37.2%
2024+16.3%
2023+18.0%
2022−30.5%
2021+20.5%
2020+18.0%

PIZ in the news

PIZ 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 Oct 30, 2026.
1.91%Last 12 months
Payout per share
$0.93Last 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. 35 payments from 2017 to 2026 YTD. Jun 16, 2017 $0.19; Sep 18, 2017 $0.04; Dec 18, 2017 $0.12; Jun 18, 2018 $0.20; Dec 24, 2018 $0.04; Mar 18, 2019 $0.03; Jun 24, 2019 $0.19; Sep 23, 2019 $0.10; Dec 23, 2019 $0.14; Mar 23, 2020 $0.04; Jun 22, 2020 $0.06; Sep 21, 2020 $0.02; Mar 22, 2021 $0.0017; Jun 21, 2021 $0.10; Sep 20, 2021 $0.07; Dec 20, 2021 $0.24; Mar 21, 2022 $0.04; Jun 21, 2022 $0.23; Sep 19, 2022 $0.25; Dec 19, 2022 $0.03; Mar 20, 2023 $0.19; Jun 20, 2023 $0.24; Sep 18, 2023 $0.04; Dec 18, 2023 $0.12; Mar 18, 2024 $0.09; Jun 24, 2024 $0.20; Sep 23, 2024 $0.03; Dec 23, 2024 $0.29; Mar 24, 2025 $0.15; Jun 23, 2025 $0.38; Sep 22, 2025 $0.03; Dec 22, 2025 $0.20; Mar 23, 2026 $0.15; Jun 22, 2026 $0.45; 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$0.45
Mar 23, 2026Mar 27, 2026$0.15
Dec 22, 2025Dec 26, 2025$0.20
Sep 22, 2025Sep 26, 2025$0.03
Jun 23, 2025Jun 27, 2025$0.38
Mar 24, 2025Mar 28, 2025$0.15
Dec 23, 2024Dec 27, 2024$0.29
Sep 23, 2024Sep 27, 2024$0.03
Jun 24, 2024Jun 28, 2024$0.20
Mar 18, 2024Mar 22, 2024$0.09
Dec 18, 2023Dec 22, 2023$0.12

See all 60 payments⁠

$10,000 in PIZ 10 years ago paid $2,294 in dividends.⁠

PIZ Risk

Risk pillarF22 out of 100Rank 51 of 56 in International Active Equity
How much the fund’s monthly returns vary, scaled to a year.
17.5%
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.
1.02
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.
−40.0%
Trough Oct 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.
1.14
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.

PIZ Cost

Compare PIZ and TACN

Overpaying vs TACN, cheapest in International Active Equity

$15,346

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

  • PIZ 0.80%

    $15,346

  • TACN 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • PIZ 0.80%
  • TACN 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530PIZ $15,346TACN $0

Year by year

YearPIZTACNOverpaying
10$1,422$0$1,422
20$5,393$0$5,393
30$15,346$0$15,346

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