PSL ETF: What Is It? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
An introduction to the Invesco DWA Consumer Staples Momentum ETF (PSL). This smart beta product selects stocks with strong relative strength in the consumer staples sector using a rules-based approach. Along with defensive sector exposure, its strategy, fees, and comparison with related stocks are the key selection criteria.
SubscribeWhat Is the Invesco DWA Consumer Staples Momentum ETF?
The fund tracks a momentum-based index that picks consumer staples stocks with high technical relative strength. Rather than simple market-cap weighting, it uses a rules-based method that builds the portfolio mainly around stocks showing strength signals.
It suits investors who want exposure to the consumer staples sector but prefer rules-based, momentum-driven selection over simple market-cap weighting.
This is a passively managed (index-tracking) ETF run by Invesco.
How Does the Invesco DWA Consumer Staples Momentum ETF Invest?
| Item | Details |
|---|---|
| Tracking Index | Dorsey Wright Consumer Staples Technical Leaders Index |
| Management Style | Passive (tracks a rules-based momentum index) |
| Rebalancing Frequency | Quarterly |
| Dividend Frequency | Quarterly |
| Issuer | Invesco |
| Total Expense Ratio | 0.60% |
From the consumer staples sector universe, the fund uses a technical approach to select stocks with strong relative strength, and stocks that lose their strength are replaced at the regular rebalancing. What sets it apart from market-cap weighting is that it reflects recent price trends.
- Stock selection based on technical relative strength
- Concentrated exposure to the consumer staples sector
Invesco DWA Consumer Staples Momentum ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $80.5M, and the total expense ratio is 0.60% per year.
It shares the same methodology as the issuer's other sector momentum ETFs, and given the nature of the consumer staples sector, it has a defensive character.
Invesco DWA Consumer Staples Momentum ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeBecause consumer staples is a defensive sector, it tends to show relatively lower volatility than the broader market. Given the momentum selection method, its trend can vary depending on how concentrated the sector's strong stocks become.
Fund flows shift with demand for defensive sectors and with interest rate and consumer conditions, and in risk-off phases money sometimes flows into consumer staples. As a sector momentum product, it reacts sensitively to market conditions.
Invesco DWA Consumer Staples Momentum ETF Pros and Cons
Its strengths are rules-based momentum selection and defensive sector exposure, while sector concentration and the costs from frequent stock turnover deserve attention.
💪 Key Strengths
⚠️ Points to Watch
Invesco DWA Consumer Staples Momentum ETF Alternative ETFs and Related Products
The Invesco sector momentum ETFs shown in the table apply the same Dorsey Wright methodology to other sectors: PTF for technology, PRN for industrials, PTH for healthcare, PYZ for materials, and PUI for utilities. Their expense ratios are generally similar, and only the sector exposure differs. For broader exposure to the consumer staples sector, market-cap-weighted ETFs such as XLP and VDC can be considered direct substitutes. For market-wide momentum exposure regardless of sector, MTUM and the issuer's broad momentum ETF PDP are also worth comparing.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 PTF | Invesco Dorsey Wright Technology Momentum ETF | $93.47 | +4.2% | $493.5M | 0.60% | - | +18.6% |
 PRN | Invesco Dorsey Wright Industrials Momentum ETF | $190.46 | +3.2% | $289.8M | 0.60% | - | +8.2% |
 PTH | Invesco Dorsey Wright Healthcare Momentum ETF | $59.92 | +4.3% | $286.6M | 0.60% | 2.55% | +26.9% |
 SMOM | Symmetry Panoramic Sector Momentum ETF | $28.82 | +2.0% | $71.4M | 0.63% | 0.15% | +13.4% |
 PXI | Invesco Dorsey Wright Energy Momentum ETF | $57.16 | +0.8% | $66.9M | 0.60% | 1.26% | +22.2% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 CASY | Casey's General Stores Inc | 0.12% | $692.13 | +0.7% | $25.6B | 33.3 | 0.38% |
| COST | Costco Wholesale Corp | 0.11% | $1066.18 | +1.2% | $472.5B | 51.4 | 0.54% |
 USFD | US Foods Holding Corp | 0.11% | $109.94 | +3.1% | $23.6B | 30.7 | - |
 CHD | Church & Dwight Co Inc | 0.10% | $111.31 | +1.8% | $26.3B | 34.3 | 1.13% |
 PFGC | Performance Food Group Company | 0.09% | $111.77 | +4.0% | $17.6B | 44.5 | - |
Invesco DWA Consumer Staples Momentum ETF Investor Checkpoints
Here are the points to check before investing in PSL. It is wise to confirm in advance the concentration in the single consumer staples sector, the lagging nature of the momentum approach, and the cost structure resulting from frequent rebalancing. You should also consider whether its defensive sector character matches your own investment goals.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cumulative cost impact over a long holding period | Somewhat higher than core ETFs |
| 📊 Sector Concentration | Check the degree of exposure to the single consumer staples sector | Sector-concentrated structure |
| 🔄 Turnover | Check stock replacement from frequent rebalancing | Needs review |
| 💱 Exchange Rate | Impact on returns when converted to Korean won | No currency hedge |
A downturn in the consumer staples sector and the lagging nature of momentum signals are the main risk factors. Because the fund may add strong stocks late or remove stocks that have turned weak late, it can miss the trend during sudden market shifts.
This product suits investors who want rules-based momentum exposure to the consumer staples sector. If simple sector exposure is the goal, consider low-cost ETFs such as XLP and VDC, and if you want sector-agnostic momentum exposure, consider products such as MTUM as well.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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