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PXQ

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PXQ - Invesco Dynamic Networking ETF

PXQ attempts to pick outperformers from a narrow niche networking within the broader internet segment. Using a quant model, it chooses and ranks about 30 companies based on their perceived quality, price and earnings momentum, management action, and value, weights them equally in tiers and rebalances quarterly. The resulting portfolio is heavily invested in communications equipment firms while avoiding retail-focused internet plays. With its tightly defined coverage and quant methodology, the fund can at times deviate significantly from the broad internet industry. The index’s tier weighting reduces concentrations in mega-caps and evenly weights the group of companies across size.