Invesco Dorsey Wright Emerging Markets Momentum ETF
Invesco Dorsey Wright Emerging Markets Momentum ETF (NASDAQ: PIE) is an exchange-traded fund listed on NASDAQ, trading at $34.08 (about ₹3,274 a unit) as of 28 Sep 2026, 4:00 PM ET. It has an expense ratio of 0.9% and holds 101 securities. Indian residents can buy PIE through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$33.72
Today's high
$34.09
52 week low
$22.58
52 week high
$35.17
PIE opened at $33.72, closed previously at $34.55, and has traded between $22.58 and $35.17 over the past 52 weeks.
About
The Invesco Dorsey Wright Emerging Markets Momentum ETF (the Fund) is designed to track the performance of the Dorsey Wright Emerging Markets Technical Leaders Index. The Fund primarily invests a minimum of 90% of its assets in securities from emerging economies, as defined by Dorsey Wright & Associates, including American and Global Depositary Receipts (ADRs and GDRs) tied to the Index's constituents. The underlying Index comprises roughly 100 companies, selected from the Nasdaq Emerging Markets Index. These companies are chosen for their strong relative strength (momentum) and are based in various developing nations such as Brazil, China, India, Indonesia, and South Africa, among others. A key exclusion is US companies listed on American exchanges. The Index's returns are calculated on a net basis, factoring in applicable taxes for non-resident investors. Both the Fund and the Index are rebalanced and reconstituted every quarter. Please note that as of August 25, 2023, the Fund's name was updated from "Invesco DWA Emerging Markets Momentum ETF" to its current "Invesco Dorsey Wright Emerging Markets Momentum ETF." This was solely a name change, with no other operational adjustments made to the Fund. More details are available in the prospectus.
Key statistics
Expense ratio
0.9%
Assets (AUM)
$257.9M
Holdings
101
NAV
$34.38
Avg. volume
—
1-year price change
+42.30%
5-year price change
+42.36%
Price change excludes dividends.
Top 10 holdings
PIE holds 101 securities in total. These 10 are 25.3% of the fund.
Where the money is invested
Sectors
Countries
How to buy PIE from India
Indian residents can buy PIE units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search PIE and buy
Find the fund by its ticker, PIE, on NASDAQ, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in PIE from India
Trading and taxes when buying PIE from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- 12.5% or slab rateGains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation. Gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate.Capital gains explained
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India. The US withholds tax on dividends paid to Indian residents at the treaty rate; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the PIE price today?
Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) last traded at $34.08 on NASDAQ, as of 28 Sep 2026, 4:00 PM ET. That is ₹3,274 a unit at the 28 Sep 2026 USD/INR rate.
When does PIE trade, in Indian time?
NASDAQ trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is PIE, and what does it cost to hold?
Invesco Dorsey Wright Emerging Markets Momentum ETF manages about $257.9M. Its expense ratio is 0.9% a year, deducted inside the fund. It launched in 2007.
What are PIE's largest holdings?
The top three are Wanguo Gold Group Ltd (3.1%), Topco Scientific Co Ltd (2.9%) and Taiwan Semiconductor Manufacturing Co Ltd (2.8%). PIE's 10 largest positions make up 25.3% of the fund.
Does PIE pay dividends?
Yes. PIE is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate. The US withholds 25% tax on dividends before they reach you; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit when you file in India.
How are gains on PIE taxed in India?
Units held for more than 24 months are long-term and taxed at 12.5% without indexation; units held for 24 months or less are taxed at your income-tax slab rate. The gain is worked out in rupees, so the currency move counts.
Can I buy fractional units of PIE?
Yes. You can buy PIE by amount rather than by whole unit, and there is no minimum trade size.
How has PIE performed?
PIE's price is up 42.3% over the past year and up 42.4% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.