Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) is a emerging-markets ETF. As of October 9, 2026, ETF Copilot scores PIE 5.2 out of 10 — highest on Growth (9.2), lowest on Value (0.3). It trades at 19.3 times earnings, against its own median of 15.6. Its ten largest holdings are 27% of the fund.
What stands out in PIE's data
Tracks high-trend stocks in emerging markets using a trend-driven strategy.
Pays a steep price for its earnings — the most expensive in the category. Recent returns have been strong, but the valuation leaves little room for error.
EBITDA multiple of 14.5x places it among the priciest 10% of emerging-market peers, well above the category median of 9.5x. It returned 27% annualized over three years.
Functions as a focused emerging market momentum allocation for a portfolio already holding broad emerging market exposure.
How is PIE rated? ETF Copilot scores Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) 5.2 out of 10
As of October 9, 2026, ETF Copilot scores Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) 5.2 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 5.2 / 10
- Growth: 9.2 / 10
- Value: 0.3 / 10
- Risk: 2.0 / 10
- Quality: 5.1 / 10
- Return: 6.7 / 10
Is PIE expensive right now? It trades at 19.3 times earnings, against its own median of 15.6
As of October 9, 2026, PIE is more expensive than 86% of its own last 9 years.
Trailing 12 months, built from PIE's holdings. How we calculate this →
What's inside PIE? 47% Tech
What's inside PIE: Size (Large 33%, Mid 39%, Small 28%); Geography (International 100%, US 0%); Tech 47.0%; AI 0.4%; Semiconductors 20.4%; Memory 2.8%.
What are PIE's top holdings? The ten largest are 27% of the fund
Topco Scientific, Sigurd Microelectronics, Taiwan Semiconductor, Jentech Precision Industrial, Iteq, Shinkong Insurance, Lite-On Technology, Kinsus Interconnect Technology, Chroma ATE and Tripod Technology are PIE's largest holdings, in that order.
Less concentrated than 65% of Emerging Markets ETFs.
Half of PIE's weight sits in its 25 largest positions, and once those weights are taken into account it behaves like 68 equally weighted holdings.
What is PIE's expense ratio? 0.90% a year
As of October 9, 2026, PIE charges 0.90% a year, yields 2.14% and holds $272M in assets across 99 positions.
| Measure | PIE |
|---|---|
| Expense ratio | 0.90% |
| Dividend yield | 2.14% |
| Assets under management | $272M |
| Holdings | 99 |
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 Dorsey Wright Emerging Markets Momentum ETF (PIE) scores and holdings analysis”, as of October 9, 2026.
https://etf-copilot.com/etf/pie
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