The conversation about homebuilders exchange traded funds is dominated by the SPDR S&P Homebuilders ETF (NYSEArca: XHB) and the iShares U.S. Home Construction ETF (NYSEArca: ITB).

Often lost in the shuffle is the PowerShares Dynamic Building & Construction Portfolio (NYSEArca: PKB). However, PKB’s charts say now is the time for investors to consider this hidden gem of homebuilders ETFs. Recent price action confirms as much. Over the past week, PKB is up almost 1% and over the past month, the ETF has climbed nearly 3%.

Like the other PowerShares sector and industry ETFs that track Intellidex indexes, PKB’s holdings are selected based on “price momentum, earnings momentum, quality, management action, and value,” according to PowerShares.

That methodology could be part of the reason why PKB is breaking out and displaying impressive relative strength against the S&P 500.

“We love when we get a price breakout, in this case to all time highs for this ETF, along when a relative strength breakout vs. the S&P 500 at the same time,” according to Captain John Charts.

Low inventory levels have pushed prices to an all-time high, and listed properties are on average only listed for just 34 days, the quickest turnover in four years of record-keeping.