- Business
- Invesco Dividend Achievers ETF (PFM) is an exchange-traded fund that seeks to replicate, before fees and expenses, the Nasdaq US Broad Dividend Achievers Index, which identifies a diversified group of U.S. dividend-paying companies that have increased their annual dividends for 10 or more consecutive fiscal years. The fund normally invests at least 90% of its total assets in the common stocks comprising the index, including large- and mid-cap growth and value stocks across diversified sectors such as information technology (approximately 24%), financials (20%), healthcare (15%), and consumer staples (12%); top holdings as of September 30, 2025, feature Broadcom Inc. (4.3%), Apple Inc. (4.3%), Microsoft Corp. (4.0%), JPMorgan Chase & Co. (3.4%), and Walmart Inc. (3.2%), among 428 total positions. Launched on September 15, 2005, by Invesco Capital Management LLC, a subsidiary of Invesco Ltd., the ETF is domiciled in the United States and listed on Nasdaq, with assets under management exceeding $718 million, a total expense ratio of 0.52%, and a 30-day SEC yield of 1.46%. The fund targets investors seeking exposure to stable, low-volatility dividend growth stocks in the large-cap value segment, primarily through U.S.-focused holdings (98% allocation), with minor exposure to Switzerland, Ireland, Canada, and Bermuda.
The ETF undergoes annual reconstitution in March and quarterly rebalancing in March, June, September, and December to reflect changes in the underlying index's proprietary selection methodology managed by Nasdaq, Inc., ensuring alignment with Dividend Achievers criteria. Recent quarterly distributions include $0.17186 per share and $0.1885 per share, supporting its appeal amid ongoing dividend growth trends, while year-to-date performance through September 30, 2025, reached 11.89% at NAV amid a portfolio weighted average P/E ratio of 26.93 and return on equity of 32.03%. No major acquisitions, partnerships, funding rounds, or strategic shifts specific to PFM have been reported in the last 1-2 years; however, Invesco Ltd. continues to expand its broader ETF suite, including dividend-focused launches like the Invesco S&P High Dividend Growers ETF in late 2023, reflecting sustained emphasis on income-oriented strategies. Invesco Ltd., the parent sponsor headquartered at 1331 Spring Street NW in Atlanta, Georgia, operates globally across more than 25 countries.