Invesco Dorsey Wright Developed Markets Momentum ETF
PIZ
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- Invesco Dorsey Wright Developed Markets Momentum ETF (PIZ) is an exchange-traded fund that seeks to track the investment results of the Dorsey Wright Developed Markets Technical Leaders Index before fees and expenses. The Fund normally invests at least 90% of its total assets in securities of developed market economies within Dorsey Wright & Associates' classification definition, including American depositary receipts (ADRs) and global depositary receipts (GDRs) that comprise the Index; it focuses on equities exhibiting relative strength and momentum characteristics among approximately 500 developed market companies outside the U.S. and Canada, with holdings typically numbering around 114-117 stocks across sectors such as information technology, industrials, consumer discretionary, health care, and financials. Top holdings as of recent data include Constellation Software Inc. (3.2%), Flughafen Zurich AG (2.9%), and Rheinmetall AG (2.9%), providing exposure to large-cap growth stocks in foreign developed markets. Launched on December 28, 2007, and domiciled in the United States, PIZ operates as an open-ended investment company managed by Invesco, with a team including Peter Hubbard (since inception), Michael Jeanette, Tony Seisser, and Pratik Doshi; the ETF trades on the Nasdaq under the ticker PIZ and caters to investors seeking momentum-based strategies in international developed equities. Geographically, it targets non-U.S. and non-Canadian developed markets including Europe, Asia-Pacific, and other regions, with total net assets of approximately $479 million USD as of late 2025. No major strategic changes, partnerships, acquisitions, funding rounds, new product launches, or reorganizations have been reported for PIZ in the last 1-2 years; the Fund continues to adhere to its core momentum indexing methodology without significant operational shifts.