Description

The Invesco Dorsey Wright Momentum ETF (PDP) seeks to mirror the performance of the Dorsey Wright Technical Leaders Index. A substantial portion of its capital, typically at least 90%, is invested in the securities that comprise this underlying index. The index itself consists of approximately 100 U.S. companies selected from the NASDAQ US Benchmark Index. Its creation follows a distinct, proprietary methodology crafted by Dorsey, Wright & Associates, LLC, which is engineered to identify companies demonstrating powerful relative performance. Relative strength refers to an investment's performance evaluation within a specific market segment over a defined period, compared to its peers in that same category. Both the fund and the index it tracks undergo quarterly adjustments through rebalancing and reconstitution. As of August 25, 2023, following market close, the fund's name changed from Invesco DWA Momentum ETF to its current designation, though this was purely a name update with no other modifications to the fund.