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PDN ETF — Holdings & Analysis

The Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) is an equity ETF with $0.37 billion in assets under management.

It seeks to track the RAFI Fundamental Select Developed ex-US 1500 Index, focusing on small and mid-cap companies in developed international markets, excluding the U.S. PDN's expense ratio is 0.47%, and it utilizes fundamental measures like book value, cash flow, sales, and dividends to select and weight its holdings, differentiating it from market-cap weighted ETFs.

Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) ETF — Price, Holdings & Analysis

The Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) is an equity ETF with $0.37 billion in assets under management. It seeks to track the RAFI Fundamental Select Developed ex-US 1500 Index, focusing on small and mid-cap companies in developed international markets, excluding the U.S. PDN's expense ratio is 0.47%, and it utilizes fundamental measures like book value, cash flow, sales, and dividends to select and weight its holdings, differentiating it from market-cap weighted ETFs.

ETF 개요

S. Small-Mid ETF (Fund) is based on the RAFI Fundamental Select Developed ex US 1500 Index (Index). The Fund will generally invest at least 90% of its total assets in securities that comprise the Index as well as American depositary receipts (ADRs) and global depositary receipts (GDRs) that represent securities in the Index. The Index is designed to track the performance of small and mid-capitalization equities of companies in developed international markets (excluding the US), selected based on the following four fundamental measures of firm size: book value, cash flow, sales and dividends. The equities are based on their fundamental strength and are weighted according to their fundamental scores. The Index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are reconstituted annually.Effective close of business March 21, 2025, FTSE RAFI Developed ex U.S. Mid-Small 1500 Index ("Current Underlying Index") will change to the RAFI Fundamental Select Developed ex-US 1500 Index ("New Underlying Index"). The New Underlying Index will replace the Fund’s Current Underlying Index. The Fund’s name will change to “Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF”. Additionally, the Fund's management fee will reduce to 47 bps.
PDN aims to provide exposure to developed international markets, excluding the U.S., by tracking the RAFI Fundamental Select Developed ex-US 1500 Index. This index selects and weights companies based on fundamental factors rather than market capitalization, potentially offering a different risk/return profile compared to traditional market-cap weighted ETFs. The fund invests at least 90% of its assets in securities that comprise the Index, including ADRs and GDRs. PDN's top holdings include Mirae Asset Securities Co Ltd (0.43%), SSR Mining Inc (0.32%), and Korea Investment Holdings Co Ltd (0.30%). Sector allocation is heavily weighted towards Industrials (23.8%), Financial Services (13.4%), and Consumer Cyclical (11.8%). This ETF may be suitable for investors seeking diversification outside of the U.S. equity market with a focus on fundamentally strong companies.

위험 지표

PDN's risk profile is influenced by its focus on small and mid-cap companies in developed international markets. Its 3-year beta of 1.10 indicates that it is slightly more volatile than the broader market. The fund's sector allocation introduces concentration risk, with significant exposure to Industrials and Financial Services, which could impact performance if these sectors underperform. The expense ratio of 0.47% will create a drag on returns, especially in lower-return environments. Investors should also consider currency risk, as the fund invests in companies across various countries, including Japan, Canada, and the United Kingdom. Past performance does not guarantee future results.

운용보수율

0.47%

주요 보유 종목

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  • 산업재: 23.8%
  • 금융 서비스: 13.4%
  • 경기소비재: 11.8%
  • 기초 소재: 11.6%
  • 부동산: 9.2%
  • 기술: 7.3%
  • 헬스케어: 5.9%
  • 필수소비재: 5.8%
  • 에너지: 4.4%
  • 커뮤니케이션 서비스: 4.1%
  • 유틸리티: 2.8%
  • 일본: 27.0%
  • 캐나다: 9.7%
  • 대한민국: 7.5%
  • 영국: 7.0%
  • 호주: 5.7%
  • 기타: 4.9%
  • 스위스: 3.5%
  • 독일: 3.3%
  • 프랑스: 3.3%
  • 이스라엘: 3.2%

배당수익률

0.00%

위험 지표

  • 베타: 1.10

질문 및 답변

What is PDN and what does it track?

The Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) seeks to replicate the performance of the RAFI Fundamental Select Developed ex-US 1500 Index. This index focuses on small and mid-capitalization companies in developed international markets, excluding the United States. The index selects companies based on fundamental measures of firm size, including book value, cash flow, sales, and dividends. PDN invests at least 90% of its total assets in the securities that make up the index, providing investors with exposure to a diversified portfolio of international equities selected using a fundamental weighting strategy.

What is the expense ratio for PDN?

The expense ratio for PDN is 0.47%. This means that for every $10,000 invested in the fund, $47 is deducted annually to cover operating expenses. While not the lowest in the equity ETF category, it is important to consider this expense in the context of the fund's investment strategy and potential returns. Investors should compare PDN's expense ratio to those of similar ETFs to assess its cost-effectiveness.

What are the top holdings in PDN?

As of 2026-03-15, the top holdings in PDN include Mirae Asset Securities Co Ltd, comprising 0.43% of the portfolio. Other significant holdings are SSR Mining Inc at 0.32%, and Korea Investment Holdings Co Ltd, making up 0.30% of the fund. Tower Semiconductor Ltd and Evolution Mining Ltd each represent 0.29% of the fund's assets. These holdings reflect PDN's focus on fundamentally strong companies in developed international markets.

Is PDN a good long-term investment?

PDN's suitability as a long-term investment depends on an investor's individual circumstances and risk tolerance. The fund offers exposure to developed international markets, excluding the U.S., which can provide diversification benefits. Its fundamental weighting strategy may offer a different risk/return profile compared to market-cap weighted ETFs. PDN may be worth researching's expense ratio of 0.47%, sector allocations, and historical performance in the context of their overall investment goals. Past performance does not guarantee future results.

How does PDN compare to similar ETFs?

PDN differentiates itself through its fundamental weighting strategy, focusing on factors like book value, cash flow, sales, and dividends rather than market capitalization. Its expense ratio is 0.47%. PDN has $0.37 billion in assets under management. When comparing PDN to similar ETFs, factors may be worth researching such as expense ratios, AUM, tracking error, and the specific indices they track to determine which fund best aligns with their investment objectives.

Does PDN pay dividends?

As of 2026-03-15, PDN's dividend yield is 0.00%. This indicates that the fund is not currently distributing dividends to its shareholders. Investors seeking income-generating investments may want to consider other ETFs with a higher dividend yield. However, PDN's focus on capital appreciation may still be attractive to investors with a longer-term investment horizon.