DWAQ - Invesco DWA NASDAQ Momentum ETFEquity - US Equity
The Invesco DWA NASDAQ Momentum ETF (Fund) is based on the Dorsey Wright® NASDAQ Technical Leaders Index (DWA NASDAQ Technical Leaders Index). The Fund will normally invest at least 90% of its total assets in the securities that comprise the Index. The Index is comprised of approximately 100 securities from an eligible universe of approximately 1,000 securities of large capitalization companies from the NASDAQ US Benchmark Index. All securities in the universe are ranked using a proprietary relative strength (momentum) measure. Each security's score is based on intermediate and long-term price movements relative to a representative market benchmark and the other eligible securities. The top 100 securities are selected for the Index. Relative strength is the measurement of a security's performance in a given universe over time as compared to the performance of all other securities in that universe. The Fund and the Index are rebalanced and reconstituted quarterly.
|Index History (%)|
|Dorsey Wright NASDAQ Technical Leaders Index||-0.32||27.84||16.99||13.14||N/A||N/A|
|NASDAQ Composite Index||2.03||27.03||18.96||15.88||16.92||12.60|
|Fund History (%)|
|After Tax Held||-0.39||27.10||16.25||12.40||12.93||9.52|
|After Tax Sold||-0.23||16.04||12.80||9.94||10.91||8.21|
|Fund Market Price||-0.66||26.72||16.20||12.38||12.97||9.53|
|Index History (%)|
|Dorsey Wright NASDAQ Technical Leaders Index||45.97||45.97||18.80||13.22||N/A||N/A|
|NASDAQ Composite Index||36.69||36.69||19.86||14.93||16.05||12.54|
|Fund History (%)|
|After Tax Held||45.13||45.13||18.05||12.48||12.52||9.60|
|After Tax Sold||26.72||26.72||14.27||10.00||10.55||8.27|
|Fund Market Price||45.90||45.90||18.14||12.51||12.59||9.63|
Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.
Growth of $10,000
Data beginning 10 years prior to the ending date of 12/31/2019. Fund performance shown at NAV.
Dorsey Wright NASDAQ Technical Leaders Index* performance prior to Feb. 19, 2014 reflects that of the original Underlying Index Dynamic OTC Intellidex Index. From Feb. 19, 2014, forward, the Index performance reflects that of the Underlying Index Dorsey Wright NASDAQ Technical Leaders Index AND IS NOT INTENDED FOR ANY THIRD PARTY USE.
An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.
|Sector||Percent of Fund|
Market Cap & Style Allocations
as of 02/12/2020 Top Holdings | View All
Fund Holdings subject to change
|Ticker||Company||% of Fund|
|ENPH||Enphase Energy Inc||2.55|
|AXSM||Axsome Therapeutics Inc||2.44|
|ERI||Eldorado Resorts Inc||2.27|
|TTD||Trade Desk Inc/The||2.09|
Materials & Resources
Risk & Other Information
Typically, security classifications used in calculating allocation tables are as of the last trading day of the previous month.
There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Fund's return may not match the return of the Underlying Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.
The fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index.
Momentum style of investing is subject to the risk that the securities may be more volatile than the market as a whole or returns on securities that have previously exhibited price momentum are less than returns on other styles of investing.
Investments focused in a particular sector, such as healthcare and information technology, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
The NASDAQ Composite Index measures all NASDAQ domestic and international-based common stocks listed on The Nasdaq Stock Market. The Dynamic OTC Intellidex ℠ Index seeks to identify and select companies from The NASDAQ Stock Market LLC with superior risk-return profiles. The NASDAQ US Benchmark Index is a float-adjusted market-cap-weighted index designed to track the performance of securities to the United States.
The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.
There is no relationship between Dorsey, Wright & Associates, LLC ("Dorsey Wright") and Invesco other than a license by Dorsey Wright to Invesco of certain Dorsey Wright trademarks, tradenames, investment models, and indexes (the "DWA IP"). DWA IP has been created and developed by Dorsey Wright without regard to and independently of Invesco, and/or any prospective investor. The licensing of any DWA IP is not an offer to purchase or sell, or a solicitation of an offer to buy any securities. A determination that any portion of an investor's portfolio should be devoted to any ETF product developed by Invesco or investment model developed by Dorsey Wright is a determination made solely by the investment advisor serving the investor or the investor himself, not Dorsey Wright.
Beta is a measure of risk representing how a security is expected to respond to general market movements. Smart Beta represents an alternative and selection index based methodology that seeks to outperform a benchmark or reduce portfolio risk, or both. Smart beta funds may underperform cap-weighted benchmarks and increase portfolio risk.