There are changes to two Invesco models this week.

There are changes to two Invesco models this week. The Invesco Commodity Model (POWRSHARES) sold the Invesco DB Oil Fund (DBO) and the Invesco DB Energy Fund (DBE) and bought the Invesco DB Agriculture Fund (DBA) and the Invesco DB Base Metals Fund (DBB). DBO and DBE were sold because the funds’ respective ranks in the model’s relative strength matrix fell below the threshold to remain holdings in the portfolio. In their place, the model added DBA and DBB as they were the highest-ranking funds in the matrix that were not already holdings in the portfolio. DBB currently has a strong 5.24 fund score and reached a new multi-year high earlier this month. Year-to-date (through 6/18) DBB has gained 10.29% on a price return basis. DBA currently has a 2.61 fund score and positive 1.09 score direction. Year-to-date, the fund has gained 4.35%.

The POWRSHARES model has only two holdings, so this week’s trades represent 100% turnover in the portfolio, shifting it from energy exposure to agriculture and base metals. Year-to-date, the model has gained 7.01%.

The Invesco Small Cap Sector Model (POWERSMALL) sold the Invesco S&P Small Cap Energy ETF (PSCE) and bought the Invesco S&P Small Cap Materials ETF (PSCM). PSCE 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 PSCM as it was the highest-ranking fund in the matrix that was not already a model holding. PSCM currently has  a strong 5.72 fund score, which is 2.15 points better than the average for all materials funds, and a positive 2.15 score direction. Year-to-date, PSCM has gained 25.58%. In addition to PSCM, the model also has exposure to industrials and technology. Year-to-date, POWERSMALL has gained 28.12%.