DWAS - Invesco DWA SmallCap Momentum ETFEquity - US Equity
The Invesco DWA SmallCap Momentum ETF (Fund) is based on the Dorsey Wright® SmallCap Technical Leaders Index (DWA SmallCap Technical Leaders Index). The Fund will normally invest at least 90% of its total assets in equity securities of small capitalization companies that comprise the Index. The Index includes securities pursuant to a Dorsey, Wright & Associates, LLC proprietary selection methodology that is designed to identify companies that demonstrate powerful relative strength characteristics based on that company’s market performance. Approximately 200 companies are selected for inclusion in the Index from the NASDAQ US Benchmark Index. The Fund and the Index are rebalanced and reconstituted quarterly.
|Index History (%)|
|Dorsey Wright SmallCap Technical Leaders Index||24.71||9.27||11.58||8.12||N/A||12.03|
|Russell 2000 Index||22.01||7.51||8.57||8.22||12.38||11.58|
|Fund History (%)|
|After Tax Held||24.13||8.74||10.92||7.47||N/A||11.33|
|After Tax Sold||14.29||5.18||8.55||5.91||N/A||9.28|
|Fund Market Price||24.69||8.75||10.92||7.54||N/A||11.37|
|Index History (%)|
|Dorsey Wright SmallCap Technical Leaders Index||15.06||-12.47||10.01||7.66||N/A||11.08|
|Russell 2000 Index||14.18||-8.89||8.23||8.19||11.19||10.84|
|Fund History (%)|
|After Tax Held||14.65||-12.90||9.37||7.03||N/A||10.38|
|After Tax Sold||8.68||-7.64||7.33||5.55||N/A||8.46|
|Fund Market Price||15.17||-12.91||9.43||7.06||N/A||10.43|
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 Fund inception and ending 09/30/2019. Fund performance shown at NAV.
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 The results assume that no cash was added to or assets withdrawn from the Index.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 12/09/2019 Top Holdings | View All
Fund Holdings subject to change
|Ticker||Company||% of Fund|
|AXSM||Axsome Therapeutics Inc||2.39|
|GMRE||Global Medical REIT Inc||1.91|
|APPS||Digital Turbine Inc||1.72|
|KOD||Kodiak Sciences Inc||1.55|
|JBSS||John B Sanfilippo & Son Inc||1.29|
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.
Investments focused in a particular sector, such as healthcare, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
Stocks of small-capitalization companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale than large companies.
The Fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index.
The Fund is subject to numerous market trading risks, including the potential lack of an active market, losses from trading in secondary markets, and disruption in the creation/redemption process. During stressed market conditions, Shares may become less liquid as result of deteriorating liquidity which could lead to differences in the market price and the underlying value of those Shares.
The Russell 2000® Index is an unmanaged index considered representative of small cap stocks. The Russell 2000® Index is a trademark/service mark of the Frank Russell Co. Russell® is a trademark of the Frank Russell Co. 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.