- Issuer
- Invesco
- Inception Date
- Dec 28, 2007
- Region
- Global ex-U.S. (Broad)
- Category
- Momentum, Foreign Large Cap Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Dorsey Wright Developed Markets Technical Leaders Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $785M
Share Price Chart
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Performance
PIZ Performance Chart
Invesco DWA Developed Markets Momentum ETF (PIZ) is up 16.2% since the beginning of the year. PIZ is currently trading at $57 per share. Investors who bought $1,000 worth of PIZ shares 5 years ago would now be looking at an investment worth $1,639.
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Returns By Period
Invesco DWA Developed Markets Momentum ETF (PIZ) has returned 16.21% so far this year and 29.33% over the past 12 months. Over the last ten years, PIZ has returned 10.75% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.
Invesco DWA Developed Markets Momentum ETF
- 1D
- -0.99%
- 1M
- 1.00%
- YTD
- 16.21%
- 6M
- 18.89%
- 1Y
- 29.33%
- 3Y*
- 25.82%
- 5Y*
- 10.38%
- 10Y*
- 10.75%
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
PIZ Monthly Returns History
Based on dividend-adjusted daily data since Jan 7, 2008, PIZ's average daily return is +0.03%, while the average monthly return is +0.69%. At this rate, an investment would double in approximately 8.4 years.
Historically, 59% of months were positive and 41% were negative. The best month was May 2009 with a return of +16.6%, while the worst month was Sep 2008 at -20.2%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.
On a daily basis, PIZ closed higher 52% of trading days. The best single day was Oct 13, 2008 with a return of +11.4%, while the worst single day was Mar 16, 2020 at -12.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.25% | 6.54% | -10.41% | 14.39% | 2.47% | -2.24% | 16.21% | ||||||
| 2025 | 5.99% | 1.04% | -1.71% | 8.56% | 7.23% | 4.55% | -0.91% | 1.76% | 2.96% | 1.41% | -0.64% | 2.39% | 37.22% |
| 2024 | 1.54% | 4.44% | 2.58% | -3.95% | 7.19% | 1.22% | 1.65% | 3.28% | 1.15% | -2.65% | 2.62% | -3.30% | 16.30% |
| 2023 | 8.63% | -2.55% | 3.77% | 1.94% | -4.26% | 5.00% | 4.43% | -4.31% | -5.68% | -3.59% | 9.31% | 5.49% | 17.96% |
| 2022 | -14.46% | -4.61% | 2.35% | -7.53% | 0.96% | -11.23% | 6.48% | -5.39% | -11.94% | 7.04% | 10.54% | -4.31% | -30.48% |
| 2021 | -1.49% | -0.29% | 2.29% | 6.39% | 3.40% | 1.19% | 4.96% | 4.52% | -8.05% | 5.66% | -1.40% | 2.53% | 20.53% |
Benchmark Metrics
Invesco DWA Developed Markets Momentum ETF has an annualized alpha of -1.59%, beta of 0.93, and R2 of 0.67 versus S&P 500 Index. Calculated based on daily prices since January 08, 2008.
- This ETF participated in 113.44% of S&P 500 Index downside but only 100.58% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 0.93 and R2 of 0.67, 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
- -1.59%
- Beta
- 0.93
- R²
- 0.67
- Upside Capture
- 100.58%
- Downside Capture
- 113.44%
Expense Ratio
PIZ has an expense ratio of 0.80%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PIZ ranks 44 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco DWA Developed Markets Momentum ETF (PIZ) and compare them to S&P 500 Index.
| PIZ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.41 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 2.93 | -0.87 |
| Martin ratioReturn relative to average drawdown | 8.17 | 13.52 | -5.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Invesco DWA Developed Markets Momentum ETF provided a 1.34% dividend yield over the last twelve months, with an annual payout of $0.76 per share. The fund has been increasing its distributions for 5 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.76 | $0.76 | $0.61 | $0.59 | $0.56 | $0.41 | $0.12 | $0.45 | $0.24 | $0.36 | $0.47 | $0.26 |
Dividend yield | 1.34% | 1.55% | 1.68% | 1.86% | 2.04% | 1.01% | 0.37% | 1.58% | 1.06% | 1.30% | 2.21% | 1.09% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco DWA Developed 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 | $0.15 | $0.00 | $0.00 | $0.00 | $0.15 | ||||||
| 2025 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.38 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.20 | $0.76 |
| 2024 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.29 | $0.61 |
| 2023 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.12 | $0.59 |
| 2022 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.03 | $0.56 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.24 | $0.41 |
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 Developed 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 Developed Markets Momentum ETF was 60.61%, occurring on Mar 9, 2009. Recovery took 1140 trading sessions.
The current Invesco DWA Developed Markets Momentum ETF drawdown is 4.30%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -60.61%Mar 2009 | 9mo 23d | 4y 6mo | 5y 4moMay 2008 - Sep 2013 |
Bear market2022 | -40.93%Oct 2022 | 1y 1mo | 2y 4mo | 3y 5moSep 2021 - Feb 2025 |
COVID crash2020 | -36.44%Mar 2020 | 1mo 9d | 4mo 16d | 5mo 25dFeb 2020 - Aug 2020 |
Rate-hike selloffLate 2018 | -24.78%Dec 2018 | 10mo 29d | 1y 3d | 1y 11moJan 2018 - Dec 2019 |
2016 bear market2016 | -22.95%Feb 2016 | 1y 11mo | 1y 5mo | 3y 4moMar 2014 - Jul 2017 |
Drawdown Indicators
| PIZ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.61% | -56.78% | -3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -14.35% | -9.10% | -5.25% |
Max Drawdown (3Y)Largest decline over 3 years | -14.67% | -18.90% | +4.23% |
Max Drawdown (5Y)Largest decline over 5 years | -40.93% | -25.43% | -15.50% |
Max Drawdown (10Y)Largest decline over 10 years | -40.93% | -33.92% | -7.01% |
Current DrawdownCurrent decline from peak | -4.30% | -0.74% | -3.56% |
Average DrawdownAverage peak-to-trough decline | -14.87% | -10.72% | -4.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.60% | 1.97% | +1.63% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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