There are changes to two Invesco models this week.
There are changes to two Invesco models this week. The NDW Sector 4 Model (POWER4) sold the Invesco NDW Technology Momentum ETF (PTF) and bought the Invesco NDW Utilities Momentum ETF (PUI). PTF was sold because technology fell out of the top four in the model’s relative strength sector rankings. In its place, the model added PUI as utilities have moved into the top four in the rankings.
PUI currently has a favorable 4.20 fund score and a positive 1.93 score direction. On its default chart, the fund has completed three consecutive buy signals. Year-to-date (through 4/3) PUI has gained 9.24% on a price return basis; the fund also carries a 2% yield.
In addition to PUI, POWER4 also has exposure to basic materials, energy, and industrials. Year-to-date, POWER4 has gained 13.02% while the S&P 500 is down -3.84%.
The Invesco Dynamic Equal Weight Sector Model (GUGGEWSECT) sold the Invesco S&P Equal Weight Materials ETF (RSPM) and bought the Invesco S&P Equal Weight Utilities ETF (RSPU). RSPM was removed because materials fell out of the top three in the model’s relative strength sector rankings. In its place, the model added RSPU as utilities have moved into the top three in the rankings. RSPU currently has a strong 5.31 fund score, which is 0.70 points better than the average for all utilities funds, and a positive 1.92 score direction. On its default chart, RSPU has completed four consecutive buy signals and reached a new all-time high in February. Year-to-date, the fund has gained 9.84% on a price return basis. RSPU also carries a 2.4% yield.
In addition to RSPU, the model also has exposure to energy and industrials. Year-to-date, GUGGEWSECT has gained 5.80%.
