There are no changes to three Invesco models this week.
There are no changes to three Invesco models this week. The Invesco Sector Seven Model (POWER7) sold the Invesco Pharmaceuticals ETF (PJP) and bought the Invesco Energy Exploration & Production ETF (PXE). PJP 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 PXE as it was the highest-ranking fund in the matrix that was not already a model holding.
PXE currently has a favorable 4.66 fund score, which is 0.30 points better than the average for all energy & natural resources funds, and a positive 3.17 score direction. Year-to-date (through 4/17) PXE has gained 24.15% on a price return basis; the fund also carries a 1.9% yield. In addition to PXE, the model also has exposure to aerospace & defense, building & construction, clean energy, next gen connectivity, oil & gas services, and semiconductors. Year-to-date, POWER7 has gained 19.25%.
The Invesco Commodity Model (POWRSHARES) sold the Invesco DB Energy Fund ([DBE}) and bought the Invesco DB Base Metals Fund ([DBB]). DBE 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 DBB as it was the highest-ranking fund in the matrix. DBB currently has a strong 5.34 fund score, which is 1.13 points better than the average for all materials funds, and a positive 1.64 score direction. Year-to-date, DBB has gained 8.81%.
In addition to DBB, POWRSHARES also has exposure to the Invesco DB Oil Fund (DBO). Year-to-date, the model has gained 13.08% on a price return basis.
Finally, the NDW Global Technical Leaders Portfolio (TECHLEADERS4) bought the Invesco Nasdaq Dorsey Wright Smallcap Momentum ETF (DWAS). TECHLEADERS4 ranks the model inventory in a relative strength matrix; the first ranked position gets a 50% weight in the portfolio. The remaining 50% is divided equally among the other funds ranked above money market (MNYMKT). Since the last model evaluation, DWAS has moved above money market, so it is now included in the portfolio. PIE ranks first in the matrix, so it receives a 50% weight, with the remaining 50% being split between PIE, PDP and DWAS, as all three funds rank above MNYMKT. Year-do-date, TECHLEADERS4 has gained 17.86%.
