Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO)

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Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) is up 13.3% since the beginning of the year. PZW.TO is currently trading at CA$47 per share. Investors who bought CA$1,000 worth of PZW.TO shares 5 years ago would now be looking at an investment worth CA$1,624.

Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) has returned 13.28% so far this year and 31.67% over the past 12 months. Over the last ten years, PZW.TO has returned 11.06% per year, falling short of the S&P 500 Index benchmark, which averaged 14.26% annually.

Based on dividend-adjusted daily data since May 13, 2015, PZW.TO's average daily return is +0.04%, while the average monthly return is +0.89%. At this rate, an investment would double in approximately 6.5 years.

Historically, 57% of months were positive and 43% were negative. The best month was Nov 2020 with a return of +13.6%, while the worst month was Mar 2020 at -15.8%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.

On a daily basis, PZW.TO closed higher 33% of trading days. The best single day was Apr 29, 2020 with a return of +8.7%, while the worst single day was Mar 17, 2020 at -13.6%.

Invesco FTSE RAFI Global Small-Mid ETF has an annualized alpha of 8.25%, beta of 0.19, and R2 of 0.05 versus S&P 500 Index. Calculated based on daily prices since May 14, 2015.

• This ETF participated in 89.88% of S&P 500 Index downside but only 81.01% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.19 may look defensive, but with R2 of 0.05 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R2 of 0.05 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PZW.TO ranks 79 for risk / return — better than 79% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for Invesco FTSE RAFI Global Small-Mid ETF (PZW.TO) and compare them to S&P 500 Index.

Invesco FTSE RAFI Global Small-Mid ETF provided a 1.72% dividend yield over the last twelve months, with an annual payout of CA$0.80 per share.

The table displays the monthly dividend distributions for Invesco FTSE RAFI Global Small-Mid ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Invesco FTSE RAFI Global Small-Mid 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 FTSE RAFI Global Small-Mid ETF was 32.45%, occurring on Apr 3, 2020. Recovery took 159 trading sessions.

The current Invesco FTSE RAFI Global Small-Mid ETF drawdown is 0.38%.

The chart below shows the rolling one-month volatility.