Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) is a fundamentally weighted ETF. As of October 28, 2026, ETF Copilot scores PDN 3.1 out of 10 — highest on Risk (5.1), lowest on Quality (1.5). It trades at 14.5 times earnings, against its own median of 13.9. Its ten largest holdings are 2% of the fund.
What stands out in PDN's data
Developed ex-U.S. small-mid stocks, selected for balance-sheet strength and income potential.
Priced cheaper than the typical international small-mid fund — you pay less for each dollar of earnings.
Trailing P/E multiple of 14.5x lands among the cheapest in its category, below the 18.0x median. Holdings 1,561 stocks — broad diversification in one ticker.
A broad, low-priced exposure to non-U.S. small- and mid-cap companies — a value-focused building block for global equity allocations.
How is PDN rated? ETF Copilot scores Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) 3.1 out of 10
As of October 28, 2026, ETF Copilot scores Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) 3.1 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 3.1 / 10
- Growth: 2.0 / 10
- Value: 3.7 / 10
- Risk: 5.1 / 10
- Quality: 1.5 / 10
- Return: 3.5 / 10
Is PDN expensive right now? It trades at 14.5 times earnings, against its own median of 13.9
As of October 28, 2026, PDN is more expensive than 57% of its own last 9 years.
Trailing 12 months, built from PDN's holdings. How we calculate this →
What's inside PDN?
What's inside PDN: Size (Large 1%, Mid 32%, Small 67%); Geography (International 99%, US 1%); Tech 9.7%; Semiconductors 2.0%; Memory 0.2%.
What are PDN's top holdings? The ten largest are 2% of the fund
Atlassian, VAR Energi ASA, GFL Environmental, Getinge AB, Frontline, Macnica, Sega Sammy, SIG, Euronext and Sopra Steria are PDN's largest holdings, in that order.
Less concentrated than 97% of Fundamental ETFs.
Half of PDN's weight sits in its 385 largest positions, and once those weights are taken into account it behaves like 1035 equally weighted holdings.
What is PDN's expense ratio? 0.47% a year
As of October 28, 2026, PDN charges 0.47% a year, yields 3.34% and holds $346M in assets across 1561 positions.
| Measure | PDN |
|---|---|
| Expense ratio | 0.47% |
| Dividend yield | 3.34% |
| Assets under management | $346M |
| Holdings | 1561 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Cite this
ETF Copilot, “Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) scores and holdings analysis”, as of October 28, 2026.
https://etf-copilot.com/etf/pdn
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