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Launched · SEC filings

Invesco Dorsey Wright Basic Materials Momentum ETF

PYZNasdaqInvescoB

$113.10+0.88 (+0.79%)

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

B57/ 100

Rank 10 of 35 in US Active Sector

B57/100Rank 10 of 35inUS Active Sector
Intraday session: up, 79 prints from 112.21 to 113.10. Range 113.10 to 115.08. Use the arrow keys to read each point.113.50114.00114.50115.0010 AM12 PM2 PM4 PM
Expense ratio
0.60%*
Fund size
$63M
1Y total return
+7.7%
Yield · Last 12 months
0.51%
Holdings
43
Avg volume · 30D
1.85K sh
52W range
low $97.09high $134.10
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Aug 31, 2028. Without it: 0.79%.

The ETF.net PYZ Grade

Based on 5 of 6 pillars

B

Score 57 out of 100

Category
US Active Sector⁠
Rank
10 of 35
Six-pillar profile for PYZ. Scores out of 100: Cost 56, Risk 26, Mission not scored, Tradability 64, Holdings 89, Durability 75. Strongest: Holdings (89). Weakest: Risk (26). Based on 5 of 6 pillars.

Score 57 of 100 falls in the B 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.
    B56 out of 100
    Rank 15 of 35

  • 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.
    D26 out of 100
    Rank 29 of 35

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B64 out of 100
    Rank 7 of 35

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A89 out of 100
    Rank 2 of 35

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A75 out of 100
    Rank 8 of 35

Our read on PYZ

ETF.net Research

In short

BMaterials, ranked by momentum. PYZ scores US basic-materials stocks on relative strength, holds at least 30 of the strongest, and weights them by momentum score rather than market cap. Reshuffled quarterly since 2006.

Stated mandate

The fund normally invests at least 90% of its total assets in securities comprising its index. The index selects at least 30 Nasdaq US securities showing relative strength, or momentum.

Why people hold it

  • The index scores materials stocks on relative strength, keeps the 30-plus highest, and lets top scorers carry the biggest weights. Market cap does not set the lineup.sec.gov
  • A fresh read four times a year: fund and index are rebalanced and reconstituted quarterly, so names that lose relative strength drop out instead of lingering.sec.govnasdaq.com
  • 0.60% net of a waiver through August 31, 2028 (0.79% gross), near the typical cost in its active sector peer group, where it stands in the upper half.
  • Trading since 2006, so this momentum rotation has run through multiple commodity cycles. Pays quarterly.

Worth knowing

  • Roughly 40 stocks inside one cyclical sector, tilted toward whatever has been working. That concentration moves harder than a broad-market fund in both directions.
  • Momentum reads the past. With the screen on a quarterly clock, a sharp turn in materials can leave last quarter's leaders in the book until the next reconstitution.sec.gov
  • One of the smaller and less traded funds in its category, so bid-ask spreads run wider than on mega sector ETFs. Limit orders are the standard tool.

PYZ 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.

PYZ$10,768
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. PYZ $10,768. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Oct 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 PYZ. Periods over one year show the average yearly return.
PeriodPYZ
Year to date+2.2%
1 month−0.8%
3 months−5.0%
1 year+7.7%
3 yearsper year+16.0%
5 yearsper year+5.3%
10 yearsper year+8.5%

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 PYZ
YearReturn barPYZ
2026 YTD+2.2%
2025+28.0%
2024+2.5%
2023+9.6%
2022−15.5%
2021+32.7%
2020+15.4%

PYZ in the news

PYZ 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.
0.51%Last 12 months
Payout per share
$0.57Last 12 months
Last payment
$0.15 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. 38 payments from 2017 to 2026 YTD. Jun 16, 2017 $0.07; Sep 18, 2017 $0.13; Dec 18, 2017 $0.18; Mar 19, 2018 $0.03; Jun 18, 2018 $0.19; Sep 24, 2018 $0.19; Dec 24, 2018 $0.23; Mar 18, 2019 $0.06; Jun 24, 2019 $0.32; Sep 23, 2019 $0.21; Dec 23, 2019 $0.27; Mar 23, 2020 $0.19; Jun 22, 2020 $0.25; Sep 21, 2020 $0.15; Dec 21, 2020 $0.15; Mar 22, 2021 $0.08; Jun 21, 2021 $0.06; Sep 20, 2021 $0.05; Dec 20, 2021 $0.13; Mar 21, 2022 $0.13; Jun 21, 2022 $0.27; Sep 19, 2022 $0.31; Dec 19, 2022 $0.22; Mar 20, 2023 $0.18; Jun 20, 2023 $0.21; Sep 18, 2023 $0.20; Dec 18, 2023 $0.42; Mar 18, 2024 $0.21; Jun 24, 2024 $0.26; Sep 23, 2024 $0.25; Dec 23, 2024 $0.25; Mar 24, 2025 $0.23; Jun 23, 2025 $0.23; Sep 22, 2025 $0.18; Dec 22, 2025 $0.16; Mar 23, 2026 $0.12; Jun 22, 2026 $0.14; Sep 21, 2026 $0.15. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 21, 2026Sep 25, 2026$0.15
Jun 22, 2026Jun 26, 2026$0.14
Mar 23, 2026Mar 27, 2026$0.12
Dec 22, 2025Dec 26, 2025$0.16
Sep 22, 2025Sep 26, 2025$0.18
Jun 23, 2025Jun 27, 2025$0.23
Mar 24, 2025Mar 28, 2025$0.23
Dec 23, 2024Dec 27, 2024$0.25
Sep 23, 2024Sep 27, 2024$0.25
Jun 24, 2024Jun 28, 2024$0.26
Mar 18, 2024Mar 22, 2024$0.21
Dec 18, 2023Dec 22, 2023$0.42

See all 77 payments⁠

$10,000 in PYZ 10 years ago paid $1,358 in dividends.⁠

PYZ Risk

Risk pillarD26 out of 100Rank 29 of 35 in US Active Sector
How much the fund’s monthly returns vary, scaled to a year.
20.5%
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.
0.61
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.
−33.0%
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.
1.28
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.

PYZ Cost

Compare PYZ and TRUF

Overpaying vs TRUF, tied cheapest in US Active Sector

$9,711

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

  • PYZ 0.60%

    $11,817

  • TRUF 0.10% Tied cheapest

    $2,106

$10,000
30 years

Cost over time

  • PYZ 0.60%
  • TRUF 0.10%
  • 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$12.5K051015202530PYZ $11,817TRUF $2,106

Year by year

YearPYZTRUFOverpaying
10$1,076$183$893
20$4,116$717$3,399
30$11,817$2,106$9,711
How the 0.60% is worked out

Full fee 0.79%− waiver 0.19%= you pay 0.60%

The waiver ends Aug 31, 2028. After that the fee is 0.79% unless Invesco renews it. Source: prospectus, Aug 2026.

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