Share-split context: A forward split was recorded on Jul 17, 2023 with coefficient 3. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

What this ETF is trying to do

The Invesco Dorsey Wright Healthcare Momentum ETF (PTH) focuses on the healthcare sector. It invests in companies that are showing strong price momentum. As of October 8, 2026, the fund holds 56 different assets.

Top Holdings

The portfolio is spread across many companies, but some of the largest include:

• Moderna Inc: 5.46%

• Revolution Medicines Inc: 5.12%

• Roivant Sciences Ltd: 4.94%

• Guardant Health Inc: 4.54%

• Axsome Therapeutics Inc: 3.74%

These holdings can change over time.

What the numbers show

The current price of the ETF is $57.70. Because this ETF has a history of share splits, we look at split-adjusted returns to see how it has performed.

• Year-to-Date (YTD): The price return is 16.10%, and the total return is also 16.10%.

• One Year: The price return (the change in share price) is 28.47%. The total return, which includes distributions, is 32.33%.

• Three Year: The price return is 72.29%, while the total return is 77.58%.

This ETF had a forward split on July 17, 2023, with a coefficient of 3. In a forward split, each old share becomes multiple new shares, and the price per share drops proportionally. This does not create a gain or loss; it just changes how many shares an investor owns.

Income and distribution explanation

This ETF has a distribution yield of approximately 2.65%. Over the last 12 months, it has made one payout totaling $1.53 per share. The distribution frequency is irregular or less frequent.

It is important for beginners to know that a high distribution yield alone can be misleading. While distributions provide cash income, they do not guarantee that the original investment value (the principal) will stay the same.

NAV erosion explanation

"NAV erosion" happens when the internal value of a fund's assets drops over time. This ETF has an erosion-risk score of 100, and the erosion severity is labeled as "good." The data indicates that no price erosion has been detected, and the severe erosion-risk flag is false.

Pros

• Strong split-adjusted price and total returns over the one-year and three-year periods.

• No detected NAV erosion.

• An income rating grade of "A."

Cons

• Distributions are irregular and not paid on a steady schedule.

• The fund is concentrated in the healthcare sector, which may be more volatile than a diversified fund.

Beginner takeaway

PTH is a healthcare-focused ETF that has seen significant price growth over the last three years. It provides some cash income through distributions, though these are infrequent. Investors should distinguish between the price return (share price movement) and the total return (which includes the cash paid out).