# Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/piz for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Invesco · Asset class: Equity - Strategy: Thematic · Inception: 2007-12-28 The Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) aims to replicate the performance of the Dorsey Wright Developed Markets Technical Leaders Index. The Fund typically allocates a minimum of 90% of its assets to securities from developed nations, as defined by Dorsey Wright & Associates, along with American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs) that represent Index holdings. The underlying Index comprises roughly 100 companies selected from the Nasdaq Developed Markets Ex United States Index, all demonstrating robust relative strength characteristics.... ## Key Facts | Metric | Value | |---|---| | Price | $48.82 | | Expense Ratio | 0.80% | | Assets Under Management | $591.6M | | NAV | $48.90 | | Holdings Count | 100 | | Distribution Yield (TTM) | 1.91% | | Annual Distribution (TTM) | $0.93 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $45.74 – $59.47 | | Beta | 1.14 | ## Latest Distribution - Amount: $0.1275 /share - Ex-date: 2026-09-21 - Pay date: 2026-09-25 ## Frequently Asked Questions ### What does PIZ invest in? The Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) aims to replicate the performance of the Dorsey Wright Developed Markets Technical Leaders Index. The Fund typically allocates a minimum of 90% of its assets to securities from developed nations, as defined by Dorsey Wright & Associates, along with American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs) that represent Index holdings. The underlying Index comprises roughly 100 companies selected from the Nasdaq Developed Markets Ex United States Index, all demonstrating robust relative strength characteristics. These companies are domiciled in various developed markets globally, including but not limited to Australia, Canada, Finland, France, Germany, Hong Kong, Italy, Japan, Norway, Portugal, Singapore, Spain, and Switzerland. Notably, the Index specifically excludes US-based companies listed on American stock exchanges. The Index's calculation accounts for net returns, deducting applicable taxes for non-resident investors. Both the Fund and the Index are subject to quarterly rebalancing and reconstitution. It's important to note that, as of the market close on August 25, 2023, the Fund's designation transitioned from Invesco DWA Developed Markets Momentum ETF to its current name, Invesco Dorsey Wright Developed Markets Momentum ETF, without any other alterations to the Fund's characteristics. As of August 31, 2025, the Fund has earned an impressive 5-star overall rating from Morningstar Inc. out of 372 funds. Its performance over the 3- and 5-year periods also garnered 5 stars (out of 372 and 337 funds, respectively), while it received 4 stars for the 10-year period (out of 223 funds). Morningstar's ratings are based on a risk-adjusted return metric that considers monthly performance fluctuations, emphasizing downside variations and rewarding consistency. For comparison, open-end mutual funds and exchange-traded funds are evaluated collectively, with a minimum three-year history required for a rating. The overall rating is a weighted average of the three-, five-, and ten-year metrics, where applicable, incorporating fees and expenses but excluding sales charges. Morningstar's information is proprietary and should not be copied or distributed; its accuracy, completeness, or timeliness is not guaranteed, nor is Morningstar liable for any damages arising from its use. Past performance is not indicative of future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the subsequent 35% three stars, the following 22.5% two stars, and the bottom 10% one star. Ratings are subject to change monthly, and any fee waivers or expense reimbursements could have potentially resulted in lower Morningstar ratings had they not been applied. Ratings for other share classes may differ due to varying performance attributes. ### What is the expense ratio of PIZ? Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) charges an expense ratio of 0.80%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is PIZ? Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) manages $591.6M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is PIZ actively managed or an index fund? PIZ's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was PIZ launched? Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) launched in December 2007 and is managed by Invesco. ### How has PIZ performed? PIZ's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does PIZ pay a dividend? Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) currently distributes little or no income. Trailing-twelve-month yield is 1.91%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does PIZ pay dividends? Invesco Dorsey Wright Developed Markets Momentum ETF pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is PIZ's dividend yield? PIZ's trailing-twelve-month yield is 1.91%, calculated from the sum of dividends over the past year divided by the current price. ### When is PIZ's next ex-dividend date? The most recently announced ex-dividend date for PIZ was 2026-09-21. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page. ### How much will PIZ's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.80% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does PIZ charge its expense ratio? The expense ratio is deducted in tiny daily slices from PIZ's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does PIZ cost more than a fund like VOO? PIZ's strategy (current expense ratio 0.80%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where PIZ sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to PIZ? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as PIZ (0.80%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/piz - Distribution history: https://www.dividenddata.com/funds/piz/dividend - Holdings & diversification: https://www.dividenddata.com/funds/piz/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/piz/expenses - Peer comparison: https://www.dividenddata.com/funds/piz/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.