ETF Evaluator: Invesco DW Developed Markets Momt ETF (PIZ) Follow This ETF

Invesco DW Developed Markets Momt ETF Overview

Invesco DW Developed Markets Momt ETF (PIZ) is a passively managed International Equity Foreign Large Growth exchange-traded fund (ETF). Invesco launched the ETF in 2007.

The investment seeks to track the investment results (before fees and expenses) of the Dorsey Wright® Developed Markets Technical Leaders Index (the "underlying index"). The fund will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is comprised of equity securities of large capitalization companies classified as developed markets, excluding the United States.

About Invesco DW Developed Markets Momt ETF (PIZ)

There are 4 members of the management team with an average tenure of 9.05 years: Peter Hubbard (2007), Michael Jeanette (2015), Pratik Doshi (2020) and Faiz Syed (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: MSCI EAFE NR USD index with a weighting of 100% and Dorsey Wright Dev Mrkt Tech Ldrs NR USD index with a weighting of 100%. Invesco DW Developed Markets Momt ETF has 115 securities in its portfolio. The top 10 holdings constitute 29.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Invesco DW Developed Markets Momt ETF is part of the Equity global asset class and is within the International Equity ETF group. Invesco DW Developed Markets Momt ETF has 100.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 100.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco DW Developed Markets Momt ETF has -0.1% of the portfolio in cash.

Assets Under Management

The fund has $776 million in total assets, which is below the $1 billion average for the Foreign Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

PIZ Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco DW Developed Markets Momt ETF expense ratio is high compared to funds in the Foreign Large Growth category. Invesco DW Developed Markets Momt ETF has an expense ratio of 0.80%, which is 37% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco DW Developed Markets Momt ETF has a portfolio turnover rate of 122%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 57% for the Foreign Large Growth category.

Recently, in the month of June 2026, Invesco DW Developed Markets Momt ETF returned -3.1%, which earned it a grade of F, as the Foreign Large Growth category had an average return of 1.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Invesco DW Developed Markets Momt ETF has a trailing yield of 1.49%, which is above the 1.28% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Invesco DW Developed Markets Momt ETF Grades

Year to date, the ETF has returned 15.8%, 3.9 percentage points better than the category, which translates into a grade of B. The fund has returned 24.2% over the past year (grade of B), 24.6% over the past three years (grade of A) and 10.3% per year over the past five years (grade of A) and 11.1% per year over the past 10 years (grade of A).

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