PIZ vs SPY
Comparison between INVESCO DORSEY WRIGHT DEVELOPED MARKETS MOMENTUM ETF (PIZ, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed PIZ, delivering a return of +13.3% compared to +9.1%
PIZ vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PIZ
$775M
Winner
SPY
$735B
Expense Ratio
PIZ
0.80%
Winner
SPY
0.09%
Max Drawdown
PIZ
61.09%
Winner
SPY
56.47%
Sharpe Ratio
PIZ
0.84
Winner
SPY
1.62
5Y Beta
Winner
PIZ
0.91
SPY
1.00
P/E Ratio
PIZ
N/A
SPY
28.99
Forward P/E
PIZ
N/A
SPY
22.37
5Y Dividends CAGR
Winner
PIZ
48.47%
SPY
5.43%
5Y EPS CAGR
PIZ
N/A
SPY
26.05%
Debt to Equity
PIZ
N/A
SPY
32.40%
P/S Ratio
PIZ
N/A
SPY
3.74
P/B Ratio
PIZ
N/A
SPY
5.61
PIZ vs SPY - Holdings Comparison
PIZ and SPY have 1 common holdings. Overlap is -0.01%
PIZ's top 25 holdings weight is 50.91%. SPY's top 25 holdings weight is 52.37%.
| Rank | PIZ | SPY |
|---|---|---|
| #1 | SK SQUARE (n/a) - 3.14% | NVIDIA CORP (NVDA) - 8.10% |
| #2 | FUJIKURA LTD (n/a) - 3.11% | APPLE INC (AAPL) - 7.02% |
| #3 | ABB LTD (n/a) - 3.04% | MICROSOFT CORP (MSFT) - 4.79% |
| #4 | FURUKAWA ELECTRIC CO LTD (n/a) - 2.82% | AMAZON.COM INC (AMZN) - 4.02% |
| #5 | CONSTELLATION SOFTWARE INC (CNSWF) - 2.81% | ALPHABET INC CLASS A (GOOGL) - 3.51% |
| #6 | TOROMONT INDUSTRIES LTD (TMTNF) - 2.59% | BROADCOM INC (AVGO) - 3.10% |
| #7 | n/a (BDRBF) - 2.41% | ALPHABET INC CLASS C (GOOG) - 2.79% |
| #8 | SIEMENS ENERGY AG ORDINARY SHARES (n/a) - 2.41% | META PLATFORMS INC CLASS A (META) - 2.08% |
| #9 | DOOSAN CORP ORDINARY SHARES (n/a) - 2.22% | TESLA INC (TSLA) - 1.89% |
| #10 | MIZRAHI TEFAHOT BANK LTD (n/a) - 2.18% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | SK HYNIX INC (n/a) - 2.15% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #12 | NEXT VISION STABILIZED SYSTEMS LTD (n/a) - 2.10% | ELI LILLY AND CO (LLY) - 1.31% |
| #13 | FLUGHAFEN ZUERICH AG (n/a) - 2.02% | JPMORGAN CHASE & CO (JPM) - 1.28% |
| #14 | ROYAL BANK OF CANADA (RY) - 1.94% | ADVANCED MICRO DEVICES INC (AMD) - 1.27% |
| #15 | ROLLS-ROYCE HOLDINGS PLC (n/a) - 1.89% | EXXON MOBIL CORP (XOM) - 0.97% |
| #16 | INVESTOR AB CLASS B (n/a) - 1.65% | INTEL CORP (INTC) - 0.90% |
| #17 | SAMSUNG ELECTRO-MECHANICS CO LTD (n/a) - 1.56% | JOHNSON & JOHNSON (JNJ) - 0.86% |
| #18 | HALMA PLC (n/a) - 1.50% | VISA INC CLASS A (V) - 0.85% |
| #19 | n/a (n/a) - 1.47% | WALMART INC (WMT) - 0.81% |
| #20 | LION FINANCE GROUP PLC (n/a) - 1.46% | CISCO SYSTEMS INC (CSCO) - 0.72% |
| #21 | HANWHA SYSTEMS CO LTD ORDINARY SHARES (n/a) - 1.45% | COSTCO WHOLESALE CORP (COST) - 0.69% |
| #22 | KONGSBERG GRUPPEN ASA (n/a) - 1.36% | CATERPILLAR INC (CAT) - 0.66% |
| #23 | MITSUI KINZOKU CO LTD (n/a) - 1.25% | MASTERCARD INC CLASS A (MA) - 0.62% |
| #24 | MITSUBISHI HEAVY INDUSTRIES LTD (n/a) - 1.21% | LAM RESEARCH CORP (LRCX) - 0.62% |
| #25 | FIRST INTERNATIONAL BANK OF ISRAEL LTD (n/a) - 1.17% | ABBVIE INC (ABBV) - 0.58% |
| Total Holdings | 115 | 505 |
PIZ vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
PIZ
-6.93%
Winner
SPY
+1.90%
3M
PIZ
+3.88%
Winner
SPY
+8.55%
6M
Winner
PIZ
+11.76%
SPY
+8.18%
1Y
PIZ
+20.53%
Winner
SPY
+25.79%
5Y(CAGR)
PIZ
+9.09%
Winner
SPY
+13.32%
10Y(CAGR)
PIZ
+10.06%
Winner
SPY
+15.19%
Max(CAGR)
PIZ
+6.02%
Winner
SPY
+8.47%
PIZ vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | PIZ | SPY |
|---|---|---|
| 2026 | +8.40% | +8.26% |
| 2025 | +38.01% | +18.00% |
| 2024 | +18.15% | +25.59% |
| 2023 | +18.01% | +26.72% |
| 2022 | -30.42% | -18.64% |
| 2021 | +19.82% | +30.52% |
| 2020 | +16.95% | +17.28% |
| 2019 | +28.15% | +31.09% |
| 2018 | -16.56% | -5.24% |
| 2017 | +30.52% | +20.78% |
| 2016 | -6.35% | +13.59% |
| 2015 | -0.12% | +1.31% |
| 2014 | -6.69% | +14.56% |
| 2013 | +34.14% | +29.00% |
| 2012 | +15.32% | +14.17% |
| 2011 | -19.66% | +0.85% |
| 2010 | +17.77% | +13.14% |
| 2009 | +36.14% | +22.67% |
| 2008 | -43.80% | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
PIZ vs SPY Drawdown Comparison
The maximum drawdown for PIZ was -60.61%, occurring on Mar 9, 2009. Recovery took 1342 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current PIZ drawdown is -9.71%. The current SPY drawdown is -2.90%.
| Rank | PIZ | SPY |
|---|---|---|
| #1 | -60.61% May 19, 2008 - Sep 17, 2013 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -40.94% Sep 2, 2021 - Feb 12, 2025 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -36.44% Feb 12, 2020 - Aug 6, 2020 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -24.78% Jan 26, 2018 - Dec 27, 2019 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -22.95% Mar 6, 2014 - Jul 17, 2017 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -14.68% Feb 18, 2025 - Apr 22, 2025 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -14.36% Feb 26, 2026 - Apr 14, 2026 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -12.24% Jan 10, 2008 - Feb 27, 2008 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -10.75% Feb 27, 2008 - Apr 3, 2008 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -9.71% May 8, 2026 - Jun 5, 2026 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -9.01% Feb 16, 2021 - Apr 8, 2021 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -8.27% Oct 12, 2020 - Nov 5, 2020 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -6.93% Jan 15, 2014 - Feb 18, 2014 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -5.91% Nov 3, 2025 - Dec 11, 2025 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -5.42% Sep 18, 2013 - Oct 18, 2013 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between PIZ and SPY is 0.96 which considered as a very strong positive correlation - the stocks move almost identically together.
0.96
-101
Dividend Comparison (1999 - 2026)
PIZ vs SPY dividend yield comparison.
| Year | PIZ | SPY |
|---|---|---|
| 2026 | 0.28% | 0.24% |
| 2025 | 1.55% | 1.07% |
| 2024 | 1.68% | 1.21% |
| 2023 | 1.86% | 1.40% |
| 2022 | 2.04% | 1.65% |
| 2021 | 1.01% | 1.20% |
| 2020 | 0.37% | 1.52% |
| 2019 | 1.58% | 1.75% |
| 2018 | 1.06% | 2.04% |
| 2017 | 1.30% | 1.80% |
| 2016 | 2.21% | 2.03% |
| 2015 | 1.09% | 2.06% |
| 2014 | 1.61% | 1.87% |
| 2013 | 2.81% | 1.81% |
| 2012 | 1.96% | 2.18% |
| 2011 | 2.90% | 2.05% |
| 2010 | 0.43% | 1.80% |
| 2009 | 2.10% | 1.95% |
| 2008 | 2.15% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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