What Is the PTH ETF? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The Invesco Dorsey Wright Healthcare ETF (PTH) invests in leading U.S. healthcare stocks with high relative strength when price trends are positive. Rather than weighting by market capitalization, it uses a momentum-based strategy to improve its performance outlook, and it responds mechanically to market changes through quarterly rebalancing.
SubscribeWhat Is the Invesco Dorsey Wright Healthcare ETF?
The fund tracks an index composed of companies in the U.S. healthcare sector that show relatively high price momentum. It selects stocks with clear relative strength and rebalances quarterly.
It suits active investors who seek excess returns over the market through leading stocks in the healthcare sector.
It is a passive (index-tracking) ETF managed by Invesco.
How Does the Invesco Dorsey Wright Healthcare ETF Invest?
| Item | Details |
|---|---|
| Tracking Index | Dorsey Wright Healthcare Technical Leaders Index |
| Management Style | Passive (Smart Beta) |
| Rebalancing Frequency | Quarterly |
| Dividend Frequency | Quarterly |
| Expense Ratio | 0.60% |
From the healthcare companies within the Nasdaq U.S. Benchmark Index, the fund selects stocks that display pronounced momentum characteristics. Through quantitative screening, it applies a strategy of increasing weights in stocks that have established upward trends.
- Applies a proprietary relative strength evaluation model
- Selects stocks based on price trends rather than simple market capitalization
Invesco Dorsey Wright Healthcare ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $286.6M, and the expense ratio is 0.60% per year.
The fee is somewhat higher than that of typical market-cap-weighted healthcare ETFs, but the fund offers a differentiated strategy based on technical analysis.
Invesco Dorsey Wright Healthcare ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeWhen a particular theme within the healthcare industry, such as technological innovation or regulatory change, leads the market, the fund may show strength by increasing its weight in the stocks driving that trend.
In periods when the market is strong and specific healthcare themes (for example, innovative new drugs and medical devices) lead market returns, inflows from investors pursuing smart investing may tend to increase into this ETF, which uses a relative-strength-based trend-following strategy.
Invesco Dorsey Wright Healthcare ETF Pros and Cons
The trend-following strategy works in its favor during leader-driven bull markets, but frequent trading and a relatively high fee are drawbacks.
💪 Key Strengths
⚠️ Points to Watch
Invesco Dorsey Wright Healthcare ETF Alternatives and Related Products
The products shown in the table, PTF, PRN, PSL, PYZ, and PUI, are sister ETFs managed by Invesco that apply the same proprietary momentum strategy to other sectors such as technology, industrials, and consumer staples. Meanwhile, investors who want a traditional market-cap-weighted approach that provides low-cost exposure to the healthcare industry as a whole can consider alternatives such as XLV or VHT.
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% |
 PSL | Invesco Dorsey Wright Consumer Staples Momentum ETF | $115.97 | +2.3% | $80.5M | 0.60% | 0.69% | +16.0% |
 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 |
|---|---|---|---|---|---|---|---|
 PRAX | Praxis Precision Medicines Inc | 0.05% | $332.97 | +19.9% | $9.3B | - | - |
 GH | Guardant Health Inc | 0.05% | $158.79 | +5.3% | $21.5B | - | - |
| ROIV | Roivant Sciences Ltd | 0.10% | $40.67 | +4.6% | $29.4B | - | - |
| RVMD | Revolution Medicines Inc | 0.05% | $200.15 | +4.1% | $43.3B | - | - |
 AXSM | Axsome Therapeutics Inc | 0.04% | $133.96 | +1.2% | $7.0B | - | - |
 BTSG | BrightSpring Health Services Inc | 0.04% | $69.15 | +3.0% | $13.8B | 44.9 | - |
 UTHR | United Therapeutics Corp | 0.03% | $582.46 | +3.6% | $24.8B | 22.0 | - |
 THC | Tenet Healthcare Corp | 0.03% | $289.00 | +2.0% | $23.0B | 8.4 | - |
 LQDA | Liquidia Corp | 0.03% | $47.87 | +7.8% | $4.3B | 35.1 | - |
Invesco Dorsey Wright Healthcare ETF Investor Checkpoints
Here are the portfolio construction principles and key points to review before investing in PTH. Unlike typical market-cap-based passive strategies, this fund has smart beta characteristics that ride price trends, so investors should understand this clearly before approaching it.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Review cumulative costs over a long holding period, given the smart beta nature of the fund | Higher than typical ETFs |
| 📈 Momentum Market | Check whether the current market is one in which trends are forming | Favorable in leader-driven markets |
| 🔄 Turnover | Check how frequently the portfolio is replaced, given the strategy's nature | Quarterly rebalancing |
Momentum strategies perform well during periods with consistent trends, but in sideways markets or during sharp sector rotations, frequent portfolio turnover creates a risk of eroding returns.
In addition to a traditional healthcare core holding, the fund is well suited as a satellite position for active investors who want to maximize the momentum effect in markets with a clear upward trend.
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 June 29, 2026.
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