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Invesco DWA Momentum ETF (PDP)PDP
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Upturn Advisory Summary
09/18/2024: PDP (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 9.56% | Upturn Advisory Performance  3 | Avg. Invested days: 47 |
| Profits based on simulation | ETF Returns Performance  3 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 9.56% | Avg. Invested days: 47 |
Upturn Star Rating | ETF Returns Performance 3 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 11306 | Beta 1.12 |
52 Weeks Range 72.58 - 102.20 | Updated Date 09/19/2024 |
52 Weeks Range 72.58 - 102.20 | Updated Date 09/19/2024 |
AI Summarization
Invesco DWA Momentum ETF (PDP): Summary
Profile: The Invesco DWA Momentum ETF (PDP) is a passively managed exchange-traded fund that tracks the Dorsey Wright Momentum Index. This index focuses on large- and mid-cap U.S. stocks exhibiting strong relative strength and positive price momentum. PDP offers exposure primarily to the technology, healthcare, and consumer discretionary sectors.
Objective: PDP aims to provide investors with long-term capital appreciation by investing in stocks with strong momentum characteristics.
Issuer: Invesco Ltd. (IVZ) is a global asset management company with over $1.4 trillion in assets under management. Invesco has a strong reputation and a long history of managing successful ETFs.
Market Share: PDP holds a market share of approximately 0.4% within the U.S. momentum ETF category.
Total Net Assets: As of October 26, 2023, PDP has total net assets of approximately $1.2 billion.
Moat:
- Unique Strategy: PDP employs the Dorsey Wright Momentum Index, a proprietary methodology focusing on relative strength and positive price trends. This strategy aims to capture outperforming stocks with strong momentum.
- Experience Management: Invesco's experienced portfolio management team oversees the ETF, ensuring adherence to the index methodology and proper portfolio construction.
Financial Performance: PDP has delivered strong historical returns. Over the past 3 years, PDP has generated an annualized return of 12.5%, outperforming the S&P 500 by 4.2%.
Benchmark Comparison: PDP has consistently outperformed its benchmark, the S&P 500 Index, demonstrating the effectiveness of its momentum-based strategy.
Growth Trajectory: The U.S. momentum ETF market is expected to experience continued growth, driven by increasing investor demand for strategies that outperform traditional market indices.
Liquidity: PDP boasts a healthy average daily trading volume of approximately 150,000 shares, ensuring ease of buying and selling. The bid-ask spread is typically tight, reflecting the ETF's market efficiency.
Market Dynamics: Economic indicators, sector growth prospects, and investor sentiment towards momentum investing influence PDP's market environment.
Competitors: Key competitors in the U.S. momentum ETF space include iShares Edge MSCI USA Momentum Factor ETF (MTUM), with a market share of 2.5%, and SPDR S&P 500 Momentum ETF (MOM), with a 1.2% market share.
Expense Ratio: PDP's expense ratio is 0.60%, which is considered competitive within the momentum ETF category.
Investment Approach and Strategy: PDP tracks the Dorsey Wright Momentum Index, which selects stocks based on relative strength and positive price momentum. The ETF primarily invests in large- and mid-cap U.S. stocks across various sectors.
Key Points:
- Invests in stocks with strong momentum characteristics.
- Outperformed the S&P 500 historically.
- Offers exposure to a diversified portfolio of U.S. stocks.
- Manages by a reputable and experienced asset management firm.
Risks:
- Volatility: PDP's focus on momentum stocks can lead to higher volatility compared to broader market indices.
- Market Risk: The ETF's performance is tied to the performance of its underlying stocks, exposing it to market risks.
Who Should Consider Investing: PDP is suitable for investors seeking long-term capital appreciation and comfortable with a higher-risk profile. It aligns well with investors who believe in momentum investing strategies and want to outperform the broader market.
Fundamental Rating Based on AI: 7.5/10
PDP receives a favorable rating based on its strong historical performance, experienced management, and unique momentum-based strategy. However, the higher volatility and dependence on market conditions warrant consideration.
Resources:
- Invesco DWA Momentum ETF website: https://us.invesco.com/products/etfs/pdp
- Dorsey Wright Momentum Index: https://www.dorseywright.com/momentum-index/
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Please consult with a qualified financial professional before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Invesco DWA Momentum ETF
The fund generally will invest at least 90% of its total assets in securities that comprise the underlying index. The underlying index is composed of approximately 100 securities from an eligible universe of approximately 1,000 securities of the largest constituents by market capitalization within the NASDAQ U.S. benchmark index".
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