Invesco DWA Developed Markets Momentum ETF (PIZ) Performance
PIZ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.0% since Dec 31, 2025
- 1 year
- +2.5% total return
- 5 years
- +5.9% a year
- 10 years
- +9.5% a year
- Since first price
- +5.2% a year since 2007
PIZ trailing returns vs SPY, QQQ, AGG
| Period | PIZ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −9.2% | −9.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −6.7% | −6.9% | +3.2% | +1.9% | −0.4% |
| 6 months | −10.8% | −11.7% | +7.8% | +8.4% | −1.5% |
| YTD | +0.0% | −1.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +2.5% | +0.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +84.5%+22.6%/yr | +75.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +33.2%+5.9%/yr | +21.2% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +148.3%+9.5%/yr | +113.6% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +241.5%+8.5%/yr | +165.6% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionDec 28, 2007 | +160.1%+5.2%/yr | +91.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PIZ vs SPY
From Dec 28, 2007: PIZ grew to $26,012, SPY to $72,617.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PIZ returns by calendar year
11 of 18 full years positive. Best 2009 (+37.9%), worst 2008 (−45.7%). 2026 is year to date.
PIZ annual returns table
| Year | PIZ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +0.0% | −17.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +37.2% | −14.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +16.3% | −10.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +18.0% | −14.4% | +26.2% | +54.9% | +5.7% |
| 2022 | −30.5% | −38.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +20.5% | −12.6% | +28.7% | +27.4% | −1.8% |
| 2020 | +18.0% | −36.4% | +18.3% | +48.6% | +7.5% |
| 2019 | +27.5% | −6.8% | +31.2% | +39.0% | +8.5% |
| 2018 | −16.1% | −24.8% | −4.6% | −0.1% | +0.1% |
| 2017 | +31.0% | −2.6% | +21.7% | +32.7% | +3.6% |
| 2016 | −7.8% | −11.8% | +12.0% | +7.1% | +2.4% |
| 2015 | −0.3% | −17.1% | +1.2% | +9.4% | +0.5% |
| 2014 | −8.0% | −17.0% | +13.5% | +19.2% | +6.0% |
| 2013 | +35.5% | −10.8% | +32.3% | +36.6% | −2.0% |
| 2012 | +17.8% | −17.1% | +16.0% | +18.1% | +3.8% |
| 2011 | −18.9% | −32.0% | +1.9% | +3.4% | +7.7% |
| 2010 | +21.0% | −21.8% | +15.1% | +19.9% | +6.4% |
| 2009 | +37.9% | −25.0% | +26.4% | +54.7% | +3.0% |
| 2008 | −45.7% | −58.0% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PIZ largest drawdowns
Now 17.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 19, 2008 | −60.6% | Mar 9, 2009 | Sep 17, 2013 | 10 months | 5.3 years |
| Sep 2, 2021 | −40.9% | Oct 14, 2022 | Feb 12, 2025 | 1.1 years | 3.4 years |
| Feb 12, 2020 | −36.4% | Mar 23, 2020 | Aug 6, 2020 | 40 days | 6 months |
| Jan 26, 2018 | −24.8% | Dec 24, 2018 | Dec 27, 2019 | 11 months | 1.9 years |
| Mar 6, 2014 | −23.0% | Feb 11, 2016 | Jul 17, 2017 | 1.9 years | 3.4 years |
| May 8, 2026 | −17.6% | Oct 23, 2026 | not yet | 6 months | 6 months so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PIZ risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +24.9% | +8.9% | +10.0% | +5.7% |
| Volatility (annualized) | 16.8% | 20.1% | 18.1% | 20.2% |
| Sharpe ratio | 1.16 | 0.35 | 0.50 | 0.31 |
| Sortino ratio | 2.10 | 0.50 | 0.71 | 0.44 |
| Best month | +14.4% | +14.4% | +14.4% | +16.6% |
| Worst month | −10.4% | −14.5% | −15.0% | −20.2% |
| Best 12 months | +45.0% | +45.0% | +50.4% | +64.0% |
| Worst 12 months | +12.5% | −34.4% | −34.4% | −54.2% |
| Positive months | 69% | 62% | 64% | 59% |
| Beta vs S&P 500 | 1.01 | 1.09 | 1.00 | — |
| Correlation with S&P 500 | 0.74 | 0.85 | 0.85 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PIZ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 215 | −54.2% | +12.2% | +64.0% | 66% |
| 3-year (a year) | 191 | −5.4% | +6.4% | +27.8% | 86% |
| 5-year (a year) | 167 | −2.8% | +7.3% | +22.7% | 93% |
| 10-year (a year) | 107 | +2.4% | +6.4% | +11.4% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
PIZ performance overview
Invesco DWA Developed Markets Momentum ETF (PIZ) returned +2.5% over the past year and +9.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +5.2% a year, turning $10,000 into about $26,012. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −60.6%, from May 19, 2008 to Mar 9, 2009, and it took 4.5 years to get back to the old high. PIZ finished 11 of its 18 full calendar years with a gain; the best year was 2009 (+37.9%) and the worst 2008 (−45.7%). Volatility has been 20.2% a year.
Related: PIZ chart, PIZ holdings, PIZ dividends. See the PIZ overview for the latest quote and fund facts.
PIZ performance FAQ
What is the PIZ return over the past year?
PIZ returned +2.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 0.7%.
What is the average annual return of PIZ?
PIZ has returned +5.9% a year over 5 years, +9.5% a year over 10 years, +5.2% a year since December 28, 2007 (total return, distributions reinvested).
How much would $10,000 invested in PIZ be worth?
$10,000 invested in PIZ at its first recorded close on December 28, 2007 would be worth about $26,012 on October 23, 2026 with distributions reinvested.
What was the worst year for PIZ?
The worst calendar year was 2008, with a total return of −45.7%. The best was 2009 at +37.9%.
What is the biggest drawdown of PIZ?
The largest peak-to-trough decline was −60.6% between May 19, 2008 and March 9, 2009. It recovered to the old high on September 17, 2013, 4.5 years after the bottom.
How volatile is PIZ?
Over the past 3 years PIZ had an annualized volatility of 16.8% and a Sharpe ratio of 1.16 (excess return over 1–3 month T-bills per unit of risk).