Invesco Dynamic Leisure And Entertainment: Uniquely Focused ETF With Long-Term Risks

  • PEJ invests in thirty stocks from the Leisure and Entertainment industries, trading on U.S. exchanges. It uses a quant strategy based on what I consider flawed indicators of "investment merit" to select holdings, and has performed very poorly. This quant strategy also overlooks significant industry players who seem to be obvious constituents of the Leisure and Entertainment sectors, such as Disney.