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Invesco S&P SmallCap Information Technology ETF

PSCT tracks a market-cap-weighted index of US small-cap technology companies. Its selection universe is limited to the S&P SmallCap 600 Index.

This monthly report analyzes key industry metrics in the information technology sector. This sector is overvalued by over 32% relative to 11-year averages, with hardware being the most overpriced subsector. PSCT may look as an alternative or complement to large-cap tech ETFs, but performance and risk metrics are underwhelming.

Technology Sector Dashboard For October, And Fast Facts On PSCT

Designed to provide broad exposure to the Technology - Broad segment of the equity market, the Invesco S&P SmallCap Information Technology ETF (PSCT) is a passively managed exchange traded fund launched on 04/07/2010.

Should You Invest in the Invesco S&P SmallCap Information Technology ETF (PSCT)?

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After a three-day rout, Wall Street staged a solid comeback as investors bought beaten-down stocks and recession fears eased. To tap the beaten-down prices, we have highlighted five ETFs from different corners that have declined over the past week and have a solid Zacks ETF Rank.

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Invesco S&P SmallCap Information Technology ETF owns a portfolio of 68 U.S. small-cap technology stocks. PSCT has the potential to outperform other non-technology small-cap funds due to its exposure to the fast-growing technology industry. However, PSCT may continue to underperform its larger-cap technology peers due to higher failure rates of small-cap stocks and limited benefit from the growth of successful startups.

PSCT: Own Large-Cap Tech Stocks Instead

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Wall Street regained momentum at the start of May. The rally has been broad-based, with all three major indices just a few points away from their record highs.

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Broad gauges of small-cap stocks aren't impressing on a year-to-date basis. But there are some signs of life.

This Small-Cap ETF Could Be Ready to Reverse Course

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Small-cap tech stocks have been overshadowed by mega-cap tech giants despite their potential for innovation and future growth. Smaller-cap stocks have appeal for potential acquisition by larger corporations. Three small cap tech stocks focused on AI—Applied Digital (APLD), Innodata (INOD) and Rigetti (RGTI)—are especially intriguing looking ahead into 2024.

Trading The Top-Performing AI Companies From The Small Cap Universe

PSCT holds 63 small-cap tech stocks with a 7.08% weighted average net income margin. In contrast, XLK, a big-tech S&P 500 fund, has a 24.17% margin, a 17-point difference. Lower profitability is normal with small-cap stocks. However, what's not normal is no growth potential advantage. PSCT actually offers less estimated sales and EBITDA growth than its large-cap peer. PSCT has substantially lagged XLK over the last seven years, and is off by more than 30% in 2023. I expect this underperformance to continue.

PSCT: 17% Profitability Gap, A Small-Cap Tech Risk Or Opportunity?

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The S&P 600 Index has lost about 5.5% past month (as of Aug 18, 2023) versus 4.3% losses in the S&P 500.

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These sectors appear to be the rising stars in the otherwise dull Q1 small-cap earnings season.

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Who's afraid of tech stocks? In a year in which markets expected that tech would take a bigger hit, mega-caps have performed.

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Invesco S&P SmallCap Information Technology ETF offers good long-term earnings potential. However, in the short term, conditions don't look favorable for this cohort to flourish.

PSCT: Unfavorable Conditions For Alpha Generation

PSCT is supposed to track the capped float-adjusted market-cap-weighted index consisting of the S&P 600 IT companies. PSCT has a questionable valuation manifested in an earnings yield below 2% together with Price/Sales of about 3x, and not completely faultless quality.

PSCT: Lofty Multiples, Fragile Margins Make This ETF Unattractive

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Shares of high-growth technology companies lost trillions of market cap in the past year (based on the 12-month drop in the Nasdaq), per CNBC.

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U.S. tech stocks have been hitting rough weather this year. However, new Covid variants may be "pretty troublesome".

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Tech stocks have been massively hurt this year due to the Fed policy tightening. But stagflation and the chances of flattening yield curve, cheaper valuation, sector's less responsiveness to inflation should cause a rebound in tech ETFs ahead.

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ETFs are a great way to use the current downturn in technology stocks to take advantage of long-term bargains. The post 7 ETFs to Pick-Up From the Tech Wreck appeared first on InvestorPlace.

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U.S. tech stocks are off to the worst start to a year since 2016. Are there any cheap tech ETF bets?

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Small-cap stocks staged a great performance to start November. Earnings recovery is one of the reasons for the rally.

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In MicroStrategy (MSTR)'s second quarter financial results, the company indicated that it plans to continue adding to its massive Bitcoin holdings.  MicroStrategy CEO Michael Saylor said in a press release that MicroStrategy currently holds over 105,000 Bitcoins, worth over $4 billion at time of writing.

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Rising bond yields weighed on technology stocks during the first quarter, but the group still has allure, and that includes small cap tech. Investors can get into that game with the Invesco S&P SmallCap Information Technology (NASDAQ: PSCT).

Tech Stocks Still Look Compelling. So Do Small Caps.

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The January non-farm payroll reading of an addition of 49,000 jobs was below the estimated rise of 50,000. As many as 10 million jobs are still short from the boom in February 2020.

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Somewhat under the radar, small-cap IT stocks have been outperforming big-cap IT stocks over the past three months. Perhaps more surprising is that small-cap IT offer better value despite the fact they are potentially more highly levered to growth and more exposed to innovation and technological disruption.

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News for Invesco S&P SmallCap Information Technology ETF ETF (PSCT)