What this ETF is trying to do

The Invesco Dorsey Wright Basic Materials Momentum ETF (PYZ) focuses on the basic materials sector. It invests in companies that provide raw materials. Based on the top holdings, this includes companies involved in metals, mining, and chemicals.

What the numbers show

As of October 9, 2026, the share price was $115.19. To understand how the price has changed, we can look at the price return (which tracks only the share price) and the total return (which includes distributions).

• Year-to-Date: The price return is 4.57%, while the total return is 4.93%.

• One Year: The price return is 6.01%, and the total return is 6.52%.

• Three Years: The price return is 49.00%, and the total return is 53.16%.

For a simple example, if you had invested $10,000 exactly one year ago at the estimated price of $108.66, the price-only increase of 6.01% would mean your investment grew to approximately $10,601 based on the share price alone.

Income and distribution explanation

This ETF usually pays distributions quarterly. Over the last 12 months, it has made 4 payouts. The distribution yield is 0.49%.

It is important for new investors to remember that a distribution yield is not the same as a total return. While distributions provide cash income, they do not guarantee that the original investment value will stay the same.

NAV erosion explanation

"NAV erosion" happens when the net asset value of a fund declines over time, which can eat away at an investor's principal. This ETF has an erosion-risk score of 100, and the label states "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag.

Top Holdings

The portfolio is made up of 43 holdings. Because the list is partial, we only see the largest ones. As of October 11, 2026, the top holdings include:

• ATI Inc: 7.24%

• Carpenter Technology Corp: 5.32%

• Freeport-McMoRan Inc: 3.61%

• Corteva Inc: 3.55%

• Nucor Corp: 3.55%

• Steel Dynamics Inc: 3.46%

• Newmont Corp: 3.38%

• Hecla Mining Co: 3.29%

• Air Products and Chemicals Inc: 3.13%

• CF Industries Holdings Inc: 3.11%

Pros

• Strong three-year total return of 53.16%.

• No detected price erosion.

• Positive price and total returns over the short and medium term.

Cons

• The distribution yield is relatively low at 0.49%.

Beginner takeaway

PYZ is a materials-focused ETF that has seen significant growth over the last three years. While it provides some cash income through quarterly distributions, its primary movement has been in its share price. It currently shows a healthy erosion-risk score.