Invesco Dorsey Wright Momentum ETF

PDP

Market cap $1.36B

Trump signals steep China tariffs may drop, boosting hopes for trade de-escalation.

Although Wall Street is off to a good start this week amid hopes of an administrative windfall for some sectors, volatility will persist.

In a surprising development in the tariff saga, Trump announced a temporary drop in tariff rates for most countries to 10% for 90 days, triggering a historic stock market surge.

The Invesco Dorsey Wright Momentum ETF (PDP) has a portfolio tilted to high-growth stocks, but with high volatility and historical underperformance compared to peers and the Russell 1000 index. PDP's portfolio is heavily weighted towards technology, industrials, and financial services, with limited exposure to defensive sectors like healthcare and utilities. PDP's high valuation and historical underperformance, coupled with high volatility and low dividend yield, make it less attractive compared to other momentum funds.

Invesco Dorsey Wright Momentum ETF holds about 100 stocks, focusing on superior price relative strength. PDP is diversified across sectors and holdings, and has high-growth metrics. PDP has underperformed the Russell 1000 index since 2007 and several momentum ETFs since 2018.

On Monday, U.S. stocks closed at session highs, continuing their rally from last week's strong performance.

Stocks surged higher on Thursday as retail sales showed gains and Fed cues of interest rate cuts.

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High-beta and high-momentum products are expected to outperform during Santa Claus rally and are intriguing choices for a short spell.