Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) Covered Calls
The Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) is an exchange-traded fund that tracks the Dorsey Wright Emerging Markets Technical Leaders Index. It selects approximately 100 emerging market stocks based on relative strength (momentum) characteristics, aiming to capture the highest-trending equities across diverse developing economies.
You can sell covered calls on Invesco Dorsey Wright Emerging Markets Momentum ETF to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for PIE (prices last updated Thu 4:16 PM ET):
| Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) Stock Quote | ||||||
|---|---|---|---|---|---|---|
| Last | Change | Bid | Ask | Volume | P/E | Market Cap |
| 26.47 | +0.22 | 13.18 | 39.52 | 16K | - | 0.3 |
| Covered Calls For Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Net Debit | Return If Flat |
Annualized Return If Flat |
|
| Mar 20 | 26 | 0.00 | 39.52 | -34.2% | -6241.5% | |
| Apr 17 | 26 | 0.25 | 39.27 | -33.8% | -411.2% | |
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Core Business and Products
The Invesco Dorsey Wright Emerging Markets Momentum ETF (PIE) uses a systematic "relative strength" methodology to identify and invest in emerging market stocks exhibiting the strongest upward price momentum. The fund ignores traditional fundamental valuation in favor of technical leadership, rebalancing quarterly to ensure it remains invested in the "hottest" areas of the developing world.
In 2026, the fund is heavily concentrated in Taiwanese and Indian equities, reflecting the strong technical performance of the semiconductor and digital services sectors in those regions. Top holdings include Taiwan Semiconductor (TSM) and various high-growth financial and tech leaders. The fund provides an aggressive tactical tool for investors who believe that price trends in volatile emerging markets tend to persist.
Competitive Landscape
PIE competes with other factor-based and broad-market EM funds. In 2026, its primary rivals include:
iShares MSCI Emerging Markets ETF: The most liquid EM benchmark. It offers the deepest options market in the world for emerging markets, making it the primary alternative for options traders.
Vanguard FTSE Emerging Markets ETF: A massive, low-cost (0.08% fee) alternative for broad EM exposure, though it lacks the specific momentum tilt of PIE.
First Trust Dow Jones Internat. Internet ETF: A high-growth international peer that often overlaps with the momentum characteristics of PIE’s tech-heavy holdings.
iShares Core MSCI Emerging Markets ETF: A low-cost "total market" EM fund used by long-term investors seeking broad exposure rather than tactical momentum.
Strategic Outlook and Innovation
PIE’s strategy is designed to automatically pivot away from underperforming regions. In 2026, this has meant a significant reduction in Chinese exposure in favor of the "Global South" and tech-heavy Asian markets. While the fund has a high expense ratio (0.90%), its ability to capture alpha during momentum cycles remains its key selling point. For options traders, PIE is technically optionable, but the chain is thin; for high-volume covered call writing, most professionals still prefer the tighter spreads of EEM.
| Top 10 Open Interest For Mar 20 Expiration | Top 5 High Yield | |||||
|---|---|---|---|---|---|---|
| 1. | NVDA covered calls | 6. | QQQ covered calls | 1. | FLY covered calls | |
| 2. | SLV covered calls | 7. | TSLA covered calls | 2. | PL covered calls | |
| 3. | SPY covered calls | 8. | SOFI covered calls | 3. | RCAT covered calls | |
| 4. | EEM covered calls | 9. | EWZ covered calls | 4. | SOC covered calls | |
| 5. | IBIT covered calls | 10. | FXI covered calls | 5. | SMR covered calls | |
Want more examples? PID Covered Calls | PII Covered Calls
Risk Disclosure: Trading options involves significant risk and is not suitable for all investors. The information provided on this website is for educational and informational purposes only and does not constitute financial, investment, tax, or legal advice. Nothing contained on this site is an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities or financial instruments.
Covered Call Strategy Risks: While covered call writing is often considered a conservative options strategy, it is not without risk. By selling a covered call, you are limiting your potential upside profit from the underlying stock. You remain exposed to the full downside risk of owning the underlying stock. In the event of a significant decline in the stock price, the premium received may not be sufficient to offset your losses.
No Guarantee of Performance: Past performance is not indicative of future results. Any examples, calculations, or hypothetical scenarios presented on this site are for illustrative purposes only and do not guarantee future returns or outcomes. Market conditions, liquidity, and trading system failures can affect your ability to execute trades at desired prices.
You should consult with a qualified professional advisor and conduct your own due diligence before making any investment decisions. By using this website, you acknowledge that you are responsible for your own investment decisions and agree to release this site and its affiliates from any liability relating to your use of this information. See the OCC's Characteristics and Risks of Standardized Options for more info.
