Is Invesco RAFI Emerging Markets ETF (PXH) a Strong ETF Right Now?

Core Insights - The Invesco RAFI Emerging Markets ETF (PXH) is a smart beta ETF that debuted on September 27, 2007, providing broad exposure to the emerging markets category [1] - PXH is managed by Invesco and has accumulated over $1.54 billion in assets, making it one of the larger ETFs in the Broad Emerging Market ETFs segment [5] - The fund aims to match the performance of the FTSE RAFI Emerging Markets Index, which selects equities based on fundamental measures such as book value, cash flow, sales, and dividends [6] Fund Characteristics - The ETF has an annual operating expense ratio of 0.47%, which is competitive within its peer group, and a 12-month trailing dividend yield of 3.40% [7] - The top holdings include Taiwan Semiconductor Manufacturing Co Ltd (6.04% of total assets), Alibaba Group Holding Ltd, and China Construction Bank Corp, with the top 10 holdings accounting for approximately 29.85% of total assets [8][9] Performance Metrics - Year-to-date, PXH has increased by about 19.06%, and it was up approximately 25.26% over the last 12 months as of August 11, 2025 [10] - The ETF has a beta of 0.57 and a standard deviation of 17.81% over the trailing three-year period, indicating a medium risk profile [11] Alternatives in the Market - Other ETFs in the emerging markets space include Vanguard FTSE Emerging Markets ETF (VWO) with $94.77 billion in assets and iShares Core MSCI Emerging Markets ETF (IEMG) with $100.39 billion in assets, both of which have lower expense ratios of 0.07% and 0.09% respectively [13]