There are changes to two Invesco models this week.
There are changes to two Invesco models this week. The Invesco Sector Seven Model (POWER7) sold the Invesco Leisure & Entertainment ETF (PEJ) and bought the Invesco Global Clean Energy ETF (PBD). PEJ was sold because its rank in the model’s relative strength matrix fell below the threshold to remain a holding in the portfolio. In its place, the model added PBD as it was the highest-ranking fund in the matrix that was not already a model holding. PBD currently has a strong 4.85 fund score, which is 1.13 points better than the average for all energy & natural resources funds, and a positive 3.08 score direction. Year-to-date (through 11/14) PBD has gained 41.4% on a price return basis. The fund also carries a 2.3% yield. With the addition of PBD, POWER7 now has roughly 28.6% of its exposure in clean energy. POWER7 also has exposure to aerospace & defense, industrials, internet, media & gaming, semiconductors. Year-to-date, POWER7 has gained 9.74%.
The Invesco Small Cap Sector Model (POWERSMALL) sold the Invesco S&P Smallcap Consumer Discretionary ETF (PSCD) and bought the Invesco S&P Smallcap Information Technology ETF (PSCT). PSCD PEJ was sold because its rank in the model’s relative strength matrix fell below the threshold to remain a holding in the portfolio. In its place, the model added PSCT as it was the highest-ranking fund in the matrix that was not already a model holding. PSCT currently has a strong 5.7 fund score, which is 1.41 points better than the average for all technology funds, and a positive 5.15 score direction. Year-to-date, PSCT has gained 19.32% on a price return basis. In addition to PSCT, POWERSMALL also has exposure to financials and industrials. Year-to-date, POWERSMALL is down -4.9%.
