The PowerShares DWA SmallCap Technical Leaders Portfolio (DWAS) became the fourth ETF that Invesco PowerShares linked to the DWA Technical Leaders strategy, from Dorsey Wright.
Technical Leaders are companies identified by the DWA selection methodology that possess strong relative strength characteristics compared to their peers and industry benchmarks.
"We are pleased to once again partner with Dorsey, Wright & Associates for the PowerShares DWA SmallCap Technical Leaders Portfolio (DWAS), providing investors with a full suite of Technical Leaders ETFs based on the firm's respected research," said Ben Fulton, Invesco PowerShares managing director of global ETFs. "The DWA Technical Leaders strategy, based on relative strength, is widely followed by advisors and professional asset managers."
Relative strength is a quantitative measure of a stock's performance in relation to the rest of the market, expressed generally in percentage form. A number of studies have demonstrated relative strength may be a powerful tool for stock selection. This methodology is regarded as offering the appeal of being based on unbiased, objective market data, as opposed to a more subjective forecasting and research model.
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