How BulletShares Mature - Invesco
BulletShares® ETFs
BulletShares® ETFs are unlike traditional ETFs in that they have a defined maturity date similar to bonds. This allows ETF proceeds to be returned to shareholders at maturity1.
The BulletShares® Maturity Process
BulletShares ETFs comprise individual bonds that mature or are expected to be called in a specific year. While a traditional fixed income ETF or mutual fund regularly buys and sells underlying bonds to maintain a fixed duration, BulletShares ETFs hold bonds until they mature. This results in a more bond-like experience with a BulletShares ETF's duration shortening as it nears maturity.
BulletShares® Corporate Bond ETFs begin moving to cash in the final six months of the maturity year.
BulletShares® High Yield Corporate Bonds and Emerging Markets Debt ETFs start to move to cash in the final 12 months.
As a BulletShares ETF approaches maturity, its duration will move lower, helping to minimize portfolio volatility.
The charts below show the real life example of the final year of the Guggenheim BulletShares® ETFs.
The Invesco BulletShares 2018 ETFs matured on Dec. 31, 2018, and are no longer offered for sale. This information does not constitute an offer to sell or a solicitation of an offer to buy units of the funds.
Source: Invesco Distributors, Inc., Dec. 31,2018. Based on monthly NAV.
Finally, at the end of the calendar year, the BulletShares® ETF terminates and the fund assets, less any fees and expenses of the fund, are distributed to shareholders.
Opportunities for Reinvestment
As your 2019 BulletShares® ETFs near maturity, you may transfer your bond proceeds into another BulletShares ® ETF. BulletShares ETFs are available in a variety of maturities ranging from 2020 to 2028 to help investors meet their lifestyle and portfolio needs. View available BulletShares ETFs.
Matured BulletShares ETF Summary
To date, all of the 15 maturing BulletShares® ETFs have successfully transitioned.
The following matured Invesco Guggenheim BulletShares ETFs are no longer offered for sale. This information does not constitute an offer to sell, or a solicitation of an offer to buy units of the fund. As the result of a reorganization on April 6, 2018, the funds presented below reflect the Gugenheim predecessor fund. Invesco is not affiliated with Guggenheim.
| Ticker | ETF Name | Maturity Date | Final Net Asset Value Per Share |
|---|---|---|---|
| BSCI | Invesco BulletShares 2018 Corporate Bond ETF | 12/31/2018 | $21.15 |
| BSJI | Invesco BulletShares 2018 High Yeild Corporate Bond ETF | 12/31/2018 | $25.12 |
| BSCH | Guggenheim BulletShares 2017 Corporate Bond ETF | 12/31/2017 | $22.6290 |
| BSJH | Guggenheim BulletShares 2017 High Yield Corporate Bond ETF | 12/31/2017 | $25.7230 |
| BSCG | Guggenheim BulletShares 2016 Corporate Bond ETF | 12/31/2016 | $22.08361 |
| BSJG | Guggenheim BulletShares 2016 High Yield Corporate Bond ETF | 12/31/2016 | $25.81599 |
| BSCF | Guggenheim BulletShares 2015 Corporate Bond ETF | 12/31/2015 | $21.67973 |
| BSJF |
Guggenheim BulletShares 2015 High Yield Corporate Bond ETF |
12/31/2015 |
$25.74107 |
| BSCE |
Guggenheim BulletShares 2014 Corporate Bond ETF |
12/31/2014 | $21.15144 |
| BSJE |
Guggenheim BulletShares 2014 High Yield Corporate Bond ETF |
12/31/2014 | $26.25136 |
| BSCD |
Guggenheim BulletShares 2013 Corporate Bond ETF |
12/31/2013 | $20.76709 |
| BSJD |
Guggenheim BulletShares 2013 High Yield Corporate Bond ETF |
12/31/2013 |
$25.56137 |
| BSCC |
Guggenheim BulletShares 2012 Corporate Bond ETF |
12/31/2012 | $20.45780 |
| BSJC |
Guggenheim BulletShares 2012 High Yield Corporate Bond ETF |
12/31/2012 | $25.41900 |
| BSCB |
Guggenheim BulletShares 2011 Corporate Bond ETF |
12/30/2011 | $20.11990 |
1 The funds do not seek to return any predetermined amount at maturity, and the amount an investor receives may be worth more or less than their original investment. In contrast, when an individual bond matures, an investor typically receives the bond's par (or face value). The funds have designated years of maturity and will terminate on or about December 31st of their respective maturity year. In connection with such termination, each fund will make a cash distribution to then-current shareholders of its net assets after making appropriate provisions for any liabilities of the fund. The funds do not seek to return any predetermined amount at maturity. Please see the prospectus for more information about the funds' termination.
The funds have designated years of maturity ranging from 2019 to 2028 and will terminate on or about December 15st of their respective maturity year. In connection with such termination, each fund will make a cash distribution to then current shareholders of its net assets after making appropriate provisions for any liabilities of the fund. The funds do not seek to return any predetermined amount at maturity. As the bonds held by the fund mature in their final year, the portfolio will transition to cash and cash equivalents, including without limitation U.S. Treasury Bills and investment grade commercial paper. The funds will terminate without requiring additional approval by its board or shareholders. The Board may change the termination date to an earlier or later date without shareholder approval if determined the change to be in the best interest of the fund.
Please see the prospectus for more information about the funds' termination.