PWO — Invesco DWA NASDAQ Momentum ETF

PWO Fund Overview

PWO — Invesco DWA NASDAQ Momentum ETF is a US ETF managed by Invesco Exchange-Traded Fund Trust, categorised as Developed ex-US Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Invesco Exchange-Traded Fund Trust
• Category: Developed ex-US Growth Equity
• Assets under management: $51.09M
• Ticker: PWO
• SEC CIK: 0001209466
• SEC series ID: S000003034
• Share class ID: C000008301

PWO Investment Objective and Strategy

Invesco DWA NASDAQ Momentum ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Invesco Exchange-Traded Fund Trust.

Investment objective

"The Invesco DWA NASDAQ Momentum ETF (the ""Fund"") seeks to track the investment results (before fees and expenses) of the Dorsey Wright ® NASDAQ Technical Leaders Index (the ""Underlying Index"")."

Principal investment strategy

The Fund generally will invest at least 90% of its total assets in the securities that comprise the Underlying Index. The Underlying Index is composed of approximately 100 securities from an eligible universe of approximately 1,000 of the largest capitalization companies whose securities are included within the NASDAQ US Benchmark Index, except US-listed American depositary receipts (?ADRs?) or foreign securities that trade on The Nasdaq Stock Market. Dorsey, Wright & Associates, LLC (?Dorsey Wright? or the ?Index Provider?) selects securities for the Underlying Index pursuant to a proprietary selection methodology that is designed to identify companies that demonstrate powerful relative strength characteristics. ?Relative strength? is an investing technique that seeks to determine the strongest performing securities by measuring certain factors, such as a security?s relative performance against the overall market over a set period, or a security?s relative strength value, which is derived by comparing the rate of increase of the security?s price as compared to that of a benchmark index.

Strictly in accordance with its guidelines and mandated procedures, the Index Provider uses a proprietary methodology to analyze the relative strength of each security within the universe of eligible securities and determine a ?momentum? score for each security within the universe of eligible securities. In general, momentum is the tendency of an investment to exhibit persistence in its relative performance; a ?momentum? style of investing emphasizes investing in securities that have had better recent performance compared to other securities. The momentum score for each security included in the Underlying Index is based on intermediate and long-term upward price movements of the security as compared to a representative benchmark index. After giving each eligible security a momentum score, the Index Provider selects approximately 100 securities with the highest momentum scores from the universe of eligible securities for inclusion in the Underlying Index.

The Index Provider weights each security by its momentum score, with higher scoring securities representing a greater weight in the Underlying Index. The Fund generally invests in all of the securities comprising the Underlying Index in proportion to the weightings of the securities in the Underlying Index. Concentration Policy. The Fund will concentrate its investments (i.e., invest 25% or more of the value of its total assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries. As of April 30, 2018, the Fund had significant exposure to the information technology sector.

The Fund?s portfolio holdings, and the extent to which it concentrates in any industry or group of industries, are likely to change over time.

PWO Costs and Fees

PWO costs about $60 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.60%
• Gross expense ratio: 0.77%
• Portfolio turnover: 156%
• Brokerage commissions: 7.61 bps of average net assets (SEC N-CEN)

PWO Cashflows

Over the 12 months to 2020-01, Invesco DWA NASDAQ Momentum ETF had net inflows of $360.42K, from monthly SEC N-PORT filings.

PWO Debt Constituents

No individual debt constituents are reported in Invesco DWA NASDAQ Momentum ETF's latest SEC N-PORT filing.

PWO Prospectus and SEC Filings

Official Invesco DWA NASDAQ Momentum ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-09-16
• Prospectus (485BPOS) — filed 2018-09-13
• Prospectus (485BPOS) — filed 2017-09-11
• Portfolio holdings (N-PORT) — filed 2020-03-31
• Portfolio holdings (N-PORT) — filed 2019-12-30
• Annual census (N-CEN) — filed 2019-07-12

Related Funds

Other Developed ex-US Growth Equity funds tracked on ABC INVEST:

• Brown Capital Management International Small Company Fund (BCSFX)
• AlphaMark Fund (AMLCX)
• Friess Brandywine Fund (FBRWX)
• ALPS | Stadion Tactical Growth Portfolio (ALSGX)
• Friess Brandywine Blue Fund (FBLUX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.