Invesco Dorsey Wright Consumer Staples Momentum ETF (PSL)
Invesco Dorsey Wright Consumer Staples Momentum ETF operates in the Asset Management industry of the Financial Services sector, headquartered in Downers Grove, IL, US. The stock last traded at $114.29, up 0.42% on the session, giving a market capitalisation of $82.8M. Its beta of 0.65 implies it has historically moved less than the broad market.
PSL provides an alternate take on US consumer staples firms. It starts its selection universe covering about 2,000 of the largest companies by market cap within the NASDAQ US Benchmark Index. The fund then follows the Dorsey-Wright Technical Leaders Indexs momentum-focused scoring scheme to narrow down its constituents to a minimum of 30. At the same time, this momentum score will also be the basis of their respective weightings. Meaning, securities that scored the highest receives greater weight in the index. This relative strength strategy aims to focus on securities performance when it comes to intermediate and long-term upward price movements as compared to a market benchmark. Index rebalancing and reconstitution occurs quarterly. Prior to August 28, 2023, the ETF's name was Invesco DWA Consumer Staples Momentum ETF.
Invesco Dorsey Wright Consumer Staples Momentum ETF is most often compared with the following Financial Services names: