- ISIN
- US73936Q2075
- CUSIP
- 46138E867
- Issuer
- Invesco
- Inception Date
- Dec 28, 2007
- Region
- Emerging Markets (Broad)
- Category
- Momentum, Emerging Markets Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Dorsey Wright Emerging Markets Technical Leaders Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $228M
Highlights
- Avg. Volume (1M)
- 141K
- Avg. Volume Value (1M)
- $4.43M
Share Price Chart
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Performance
PIE Performance Chart
Invesco DWA Emerging Markets Momentum ETF (PIE) is up 27.0% since the beginning of the year. PIE is currently trading at $30 per share. Investors who bought $1,000 worth of PIE shares 5 years ago would now be looking at an investment worth $1,309.
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Returns By Period
Invesco DWA Emerging Markets Momentum ETF (PIE) has returned 27.02% so far this year and 43.01% over the past 12 months. Over the last ten years, PIE has returned 8.76% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Invesco DWA Emerging Markets Momentum ETF
- 1D
- 2.51%
- 1M
- -8.10%
- 6M
- 16.52%
- YTD
- 27.02%
- 1Y
- 43.01%
- 3Y*
- 17.55%
- 5Y*
- 5.53%
- 10Y*
- 8.76%
- ALL TIME*
- 2.46%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
PIE Monthly Returns History
Based on dividend-adjusted daily data since Dec 28, 2007, PIE's average daily return is +0.02%, while the average monthly return is +0.42%. At this rate, an investment would double in approximately 13.8 years.
Historically, 58% of months were positive and 42% were negative. The best month was Apr 2026 with a return of +18.7%, while the worst month was Oct 2008 at -30.5%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 6 months.
On a daily basis, PIE closed higher 52% of trading days. The best single day was Mar 11, 2008 with a return of +12.8%, while the worst single day was Mar 16, 2020 at -12.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.02% | 10.03% | -8.10% | 18.73% | 5.63% | 2.96% | -10.76% | 27.02% | |||||
| 2025 | -3.69% | 0.27% | -2.01% | 0.26% | 5.89% | 9.63% | 1.24% | 10.99% | 4.04% | -0.24% | -0.77% | -1.15% | 25.98% |
| 2024 | -0.41% | 3.21% | 3.05% | 0.62% | 2.27% | 0.71% | -3.32% | -0.46% | 1.08% | -2.38% | -2.24% | -2.15% | -0.27% |
| 2023 | 6.20% | -4.18% | 2.72% | -1.34% | 0.27% | 4.04% | 6.10% | -3.66% | -2.87% | -6.09% | 9.07% | 3.94% | 13.71% |
| 2022 | -7.02% | 2.58% | -5.07% | -6.64% | 1.15% | -13.75% | -0.12% | 0.07% | -11.21% | -3.33% | 15.38% | -2.42% | -28.77% |
| 2021 | 2.47% | 4.97% | -2.37% | 6.51% | 0.77% | 6.25% | -5.77% | -0.58% | -4.57% | 1.81% | 0.85% | 3.98% | 14.30% |
Benchmark Metrics
Invesco DWA Emerging Markets Momentum ETF has an annualized alpha of -4.31%, beta of 0.93, and R2 of 0.55 versus S&P 500 Index. Calculated based on daily prices since December 28, 2007.
- This ETF participated in 113.18% of S&P 500 Index downside but only 84.85% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -4.31% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 0.93 and R2 of 0.55, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -4.31%
- Beta
- 0.93
- R²
- 0.55
- Upside Capture
- 84.85%
- Downside Capture
- 113.18%
Expense Ratio
PIE has an expense ratio of 0.90%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PIE ranks 69 for risk / return — above 69% of ETFs peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Invesco DWA Emerging Markets Momentum ETF (PIE) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PIE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.25 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 2.00 | +0.53 |
| Martin ratioReturn relative to average drawdown | 10.20 | 8.49 | +1.71 |
Dividends
Dividend History
Invesco DWA Emerging Markets Momentum ETF provided a 1.90% dividend yield over the last twelve months, with an annual payout of $0.57 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.57 | $0.54 | $0.45 | $0.51 | $0.61 | $0.33 | $0.30 | $0.44 | $0.52 | $0.33 | $0.22 | $0.12 |
Dividend yield | 1.90% | 2.28% | 2.33% | 2.59% | 3.45% | 1.28% | 1.32% | 2.29% | 3.32% | 1.63% | 1.48% | 0.80% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco DWA Emerging Markets Momentum ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.22 | $0.00 | $0.24 | |||||
| 2025 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.24 | $0.54 |
| 2024 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.04 | $0.45 |
| 2023 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.29 | $0.00 | $0.00 | $0.06 | $0.51 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.34 | $0.00 | $0.00 | $0.05 | $0.61 |
| 2021 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.15 | $0.33 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco DWA Emerging Markets Momentum ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco DWA Emerging Markets Momentum ETF was 72.98%, occurring on Mar 2, 2009. Recovery took 2973 trading sessions.
The current Invesco DWA Emerging Markets Momentum ETF drawdown is 13.10%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-72.98%Mar 2009 | 1y 1mo | 11y 9mo | 12y 11moJan 2008 - Dec 2020 | Financial crisis2007–2009 |
-40.32%Oct 2022 | 1y 3mo | 3y 2mo | 4y 5moJul 2021 - Jan 2026 | Bear market2022 |
-17.26%Jul 2026 | 1mo 6d | — | 1mo 11dJun 2026 - now | — |
-12.87%Mar 2021 | 18d | 2mo 25d | 3mo 13dFeb 2021 - Jun 2021 | — |
-9.87%Mar 2026 | 18d | 21d | 1mo 9dMar 2026 - Apr 2026 | — |
Drawdown Indicators
| PIE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.98% | -56.78% | -16.20% |
Max Drawdown (1Y)Largest decline over 1 year | -17.26% | -9.10% | -8.16% |
Max Drawdown (3Y)Largest decline over 3 years | -28.69% | -18.90% | -9.79% |
Max Drawdown (5Y)Largest decline over 5 years | -37.59% | -25.43% | -12.16% |
Max Drawdown (10Y)Largest decline over 10 years | -40.32% | -33.92% | -6.40% |
Current DrawdownCurrent decline from peak | -13.10% | -1.58% | -11.52% |
Average DrawdownAverage peak-to-trough decline | -25.91% | -10.70% | -15.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.28% | 2.14% | +2.14% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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