BulletShares fixed income ETFs

Invesco does not provide tax advice.  Please note that the Invesco BulletShares ETFs are US-domiciled funds and there may be tax implications for Swiss investors. Tax treatment is subject to government legislation and therefore subject to change at any time.  Consult an independent tax advisor for advice regarding your own tax position. The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested.

About Risk

Credit ratings are assigned by Nationally Recognized Statistical Rating Organizations based on assessment of the credit worthiness of the underlying bond issuers. The ratings range from AAA (highest) to D (lowest) and are subject to change. Not rated indicates the debtor was not rated, and should not be interpreted as indicating low quality. Futures and other derivatives are not eligible for assigned credit ratings by any NRSRO and are excluded from quality allocations. For more information on rating methodologies, please visit the following NRSRO websites: standardandpoors.com and select "Understanding Ratings" under Rating Resources and moodys.com and select "Rating Methodologies" under Research and Ratings.

BulletShares ETFs

There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Fund’s return may not match the return of the Underlying Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

Investments focused in a particular sector, such as financial, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

The Fund is non-diversified and may experience greater volatility than a more diversified investment. 

Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.

During the final year of the Fund’s operations, as the bonds mature and the portfolio transitions to cash and cash equivalents, the Fund’s yield will generally tend to move toward the yield of cash and cash equivalents and thus may be lower than the yields of the bonds previously held by the Fund and/or bonds in the market. If interest rates fall, it is possible that issuers of callable securities will call or prepay their securities before maturity, causing the  Fund to reinvest proceeds in securities bearing lower interest rates and reducing the Fund’s income and distributions.

An issuer may be unable or unwilling to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer’s credit rating.

The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind.

Unlike a direct investment in bonds, the Fund’s income distributions will vary over time and the breakdown of returns between Fund distributions and liquidation proceeds are not predictable at the time of investment. For example, at times the Fund may make distributions at a greater (or lesser) rate than the coupon payments received, which will result in the Fund returning a lesser (or greater) amount on liquidation than would otherwise be the case. The rate of Fund distribution payments may affect the tax characterization of returns, and the amount received as liquidation proceeds upon Fund termination may result in a gain or loss for tax purposes. The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.

Income generated from the Fund is based primarily on prevailing interest rates, which can vary widely over the short- and long-term. If interest rates drop, the Fund's income may drop as well. During periods of rising interest rates, an issuer may exercise its right to pay principal on an obligation later than expected, resulting in a decrease in the value of the obligation and in a decline in the Fund’s income.

An issuer’s ability to prepay principal prior to maturity can limit the Fund’s potential gains. Prepayments may require the Fund to replace the loan or debt security with a lower yielding security, adversely affecting the Fund’s yield.

The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.

The Fund may invest in privately issued securities, including 144A securities which are restricted (i.e. not publicly traded). The liquidity market for Rule 144A securities may vary, as a result, delay or difficulty in selling such securities may result in a loss to the Fund.

BulletShares High Yield ETFs

The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.

The Fund may invest in privately issued securities, including 144A securities which are restricted (i.e. not publicly traded). The liquidity market for Rule 144A securities may vary, as a result, delay or difficulty in selling such securities may result in a loss to the Fund.

This marketing communication is for discussion purposes only and is intended for per-se professional investors in Switzerland only. It is not intended for and should not be distributed to, or relied upon, by the public.

Data at 31 March 2023, unless otherwise stated.

By accepting this document, you consent to communicating with us in English, unless you inform us otherwise.

Costs may increase or decrease as result of currency and exchange rate fluctuations. Consult the legal documents for further information on costs.​

This is marketing material and not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication.

This material should not be considered financial advice. Persons interested in acquiring the products should inform themselves as to (i) the legal requirements in the countries of their nationality, residence, ordinary residence or domicile; (ii) any foreign exchange controls and (iii) any relevant tax consequences.

Nasdaq BulletShares® USD Corporate Bond and High Yield Corporate Bond Indexes are trademarks of Invesco Indexing LLC (index provider) and have been licensed for use by Invesco Capital Management LLC (investment adviser). Invesco Indexing LLC, Invesco Capital Management LLC, and Invesco Distributors, Inc. are wholly owned, indirect subsidiaries of Invesco Ltd.

The Morningstar LSTA US Leveraged Loan 100 IndexTM(the ® ® “Underlying Index”) is a product of Morningstar, Inc. (“Morningstar”) licensed for use by Invesco Capital Management LLC (the “Adviser”). Morningstar ® is a registered trademark of Morningstar, licensed for certain use by the Adviser. Loan Syndications and Trading Association ® and LSTA ® are trademarks of the LSTA licensed for certain use by Morningstar, and further sublicensed by Morningstar for certain use by the Adviser. The Invesco Senior Loan ETF (the “Fund”) is not sponsored, endorsed, sold or promoted by Morningstar and/or their respective affiliates or LSTA, and none of such parties make any representation regarding the advisability of investing in such Fund nor do they have any liability for any errors, omissions, or interruptions of the Underlying Index.

This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial advisor/financial consultant before making any investment decisions.

Note: Not all products are available through all firms.

Shares are not individually redeemable and owners of the Shares may acquire those Shares from the Funds and tender those shares for redemption to the Funds in Creation Unit aggregations only, typically consisting of 10,000, 25,000, 50,000, 75,000, 80,000, 100,000, 150,000 or 200,000 Shares.

An investor should consider the fund’s investment objectives, risks, charges and expenses carefully before investing. For this and more complete information about the fund visit Invesco.com for a prospectus. Please read the prospectus carefully before investing.

Switzerland:

The offer of the Fund in Switzerland is directed at professional clients, excluding high-net-worth-individuals or their private investment structure with an opting-out as per Art.5 para 1 FinSA, and at retail clients with a portfolio management or advisory relationship with a financial intermediary pursuant to Article 10(3ter) CISA.

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