Exchange-Traded Funds

PGHY - Invesco Global Short Term High Yield Bond ETF

Fixed Income - International and Global Fixed Income

Product Details

The Invesco Global Short Term High Yield Bond ETF (the "Fund") is based on the DB Global Short Maturity High Yield Bond Index (the "Index"). The Fund generally will invest at least 80% of its total assets in US and foreign short-term, non-investment grade bonds that comprise the Index, all of which are denominated in US dollars. The Fund does not purchase all of the securities in the Index; instead, the Fund utilizes a “sampling” methodology to seek to achieve its investment objective. The Fund and the Index are rebalanced quarterly and re-weighted annually.

as of 08/31/2019 06/30/2019

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
DB Global Short Maturity High Yield Bond Index 4.76 5.32 5.99 5.45 N/A 5.75
ICE BofAML 0-5 Year US High Yield Constrained Index 7.34 5.45 7.07 4.28 N/A 5.09
DB Global Short Maturity High Yield Bond Index 4.49 4.44 4.71 5.56 N/A 5.55
ICE BofAML 0-5 Year US High Yield Constrained Index 7.66 4.12 5.82 4.35 N/A 4.68
Fund History (%)
Fund NAV 4.19 4.24 4.88 3.91 N/A 4.23
After Tax Held 3.08 2.01 2.40 1.62 N/A 2.03
After Tax Sold 2.47 2.48 2.62 1.93 N/A 2.22
Fund Market Price 4.74 4.25 4.78 3.85 N/A 4.27
Fund NAV 3.85 3.30 3.82 4.18 N/A 4.05
After Tax Held 2.39 1.12 1.43 1.87 N/A 1.86
After Tax Sold 2.27 1.94 1.86 2.14 N/A 2.10
Fund Market Price 4.31 3.44 3.51 4.10 N/A 4.09

Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

as of 06/30/2019

Growth of $10,000

Data beginning Fund inception and ending 06/30/2019. Fund performance shown at NAV.

An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

as of 09/16/2019

Sector Allocation

as of 09/16/2019

Top Country Allocation

Quality Allocations as of 09/16/2019

S&P Moody's
BBB : 4% Baa : 4%
BB : 39% Ba : 38%
B : 28% B : 33%
CCC : 7% Caa : 10%
CC : 0% Ca : 0%
C : 0% C : 0%
Not Rated : 22% Not Rated : 15%

Cash is excluded from the credit rating quality allocations table.

as of 09/16/2019 Maturity

Years % of Fund
0 - 1 years 33.05
1 - 5 years 66.20
5 - 10 years 0.19
10 - 15 years 0.00
15 - 20 years 0.00
20 - 25 years 0.00
25 years and over 0.56

as of 09/16/2019Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
Turkiye Sinai Kalkinma Bankasi AS 5.38% 10/30/2019 N/A NR/B3 0.36%
Studio City Co Ltd 5.88% 11/30/2019 N/A BB-/Ba3 0.36%
Guitar Center Inc 9.50% 10/15/2021 10/16/2019 (P)CCC+/Caa1 0.34%
Hughes Satellite Systems Corp 7.62% 06/15/2021 N/A BB/B2 0.34%
Banco BTG Pactual SA/Cayman Islands 4.00% 01/16/2020 N/A NR/Ba2 0.31%
Bank Otkritie Financial Corp OJSC Via OFCB Capital PLC 4.50% 11/11/2019 N/A NR/Ba2 0.31%
Banco Bradesco SA/Cayman Islands 6.75% 09/29/2019 N/A NR/Ba3 0.31%
Jaguar Land Rover Automotive PLC 4.25% 11/15/2019 10/16/2019 B+/B1 0.31%
Turkiye Halk Bankasi AS 3.88% 02/05/2020 N/A NR/B3 0.31%
Greenland Global Investment Ltd 4.85% 08/17/2020 N/A NR/Ba2 0.31%

Holdings are subject to change and are not buy/sell recommendations.

Distributions | View All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital
08/19/2019 08/20/2019 08/30/2019 0.09808 0.09808 - - -
07/22/2019 07/23/2019 07/31/2019 0.09725 0.09725 - - -
06/24/2019 06/25/2019 06/28/2019 0.09656 0.09656 - - -
05/20/2019 05/21/2019 05/31/2019 0.09750 0.09750 - - -
04/22/2019 04/23/2019 04/30/2019 0.10125 0.10125 - - -
03/18/2019 03/19/2019 03/29/2019 0.09876 0.09876 - - -
02/19/2019 02/20/2019 02/28/2019 0.09968 - - - -
01/22/2019 01/23/2019 01/31/2019 0.11352 0.11352 - - -
12/24/2018 12/26/2018 12/31/2018 0.09827 0.09827 - - -
11/19/2018 11/20/2018 11/30/2018 0.09932 0.09932 - - -
10/22/2018 10/23/2018 10/31/2018 0.10970 0.10970 - - -
09/24/2018 09/25/2018 09/28/2018 0.10236 0.10236 - - -
08/20/2018 08/21/2018 08/31/2018 0.10800 0.10800 - - -
07/23/2018 07/24/2018 07/31/2018 0.10750 0.10750 - - -
06/18/2018 06/19/2018 06/29/2018 0.10500 0.10500 - - -
05/21/2018 05/22/2018 05/31/2018 0.10918 0.10918 - - -
04/23/2018 04/24/2018 04/30/2018 0.10737 0.10737 - - -
03/19/2018 03/20/2018 03/29/2018 0.09975 0.09975 - - -
02/20/2018 02/21/2018 02/28/2018 0.09925 0.09925 - - -
01/22/2018 01/23/2018 01/31/2018 0.09201 0.09201 - - -
12/18/2017 12/19/2017 12/29/2017 0.10246 0.10246 - - -
11/20/2017 11/21/2017 11/30/2017 0.10178 0.10178 - - -
10/23/2017 10/24/2017 10/31/2017 0.10150 0.10150 - - -
09/18/2017 09/19/2017 09/29/2017 0.10206 0.10206 - - -
08/15/2017 08/17/2017 08/31/2017 0.10646 0.10646 - - -
07/14/2017 07/18/2017 07/31/2017 0.11077 0.11077 - - -
06/15/2017 06/19/2017 06/30/2017 0.11011 0.11011 - - -
05/15/2017 05/17/2017 05/31/2017 0.10620 0.10620 - - -
04/13/2017 04/18/2017 04/28/2017 0.11303 0.11303 - - -
03/15/2017 03/17/2017 03/31/2017 0.11796 0.11796 - - -
02/15/2017 02/17/2017 02/28/2017 0.12227 0.12227 - - -
01/13/2017 01/18/2017 01/31/2017 0.12213 0.12213 - - -
12/15/2016 12/19/2016 12/30/2016 0.13953 0.13953 - - -
11/15/2016 11/17/2016 11/30/2016 0.13256 0.13256 - - -
10/14/2016 10/18/2016 10/31/2016 0.18554 0.18554 - - -
09/15/2016 09/19/2016 09/30/2016 0.15000 0.15000 - - -
08/15/2016 08/17/2016 08/31/2016 0.14750 0.14750 - - -
07/15/2016 07/19/2016 07/29/2016 0.14685 0.14685 - - -
06/15/2016 06/17/2016 06/30/2016 0.13000 0.13000 - - -
05/13/2016 05/17/2016 05/31/2016 0.12500 0.12500 - - -
04/15/2016 04/19/2016 04/29/2016 0.10000 0.10000 - - -
03/15/2016 03/17/2016 03/31/2016 0.09200 0.09200 - - -
02/12/2016 02/17/2016 02/29/2016 0.09000 0.09000 - - -
01/15/2016 01/20/2016 01/29/2016 0.09000 0.09000 - - -
12/15/2015 12/17/2015 12/31/2015 0.09100 0.09100 - - -
11/13/2015 11/17/2015 11/30/2015 0.09122 0.09122 - - -
10/15/2015 10/19/2015 10/30/2015 0.08350 0.08350 - - -
09/15/2015 09/17/2015 09/30/2015 0.08349 0.08349 - - -
08/14/2015 08/18/2015 08/31/2015 0.09360 0.09360 - - -
07/15/2015 07/17/2015 07/31/2015 0.08945 0.08945 - - -
06/15/2015 06/17/2015 06/30/2015 0.08455 0.08455 - - -
05/15/2015 05/19/2015 05/29/2015 0.08601 0.08601 - - -
04/15/2015 04/17/2015 04/30/2015 0.08597 0.08597 - - -
03/13/2015 03/17/2015 03/31/2015 0.08926 0.08926 - - -
02/13/2015 02/18/2015 02/27/2015 0.08912 0.08912 - - -
01/15/2015 01/20/2015 01/30/2015 0.08608 0.08608 - - -
12/15/2014 12/17/2014 12/31/2014 0.08473 0.08473 - - -
11/14/2014 11/18/2014 11/28/2014 0.08435 0.08435 - - -
10/15/2014 10/17/2014 10/31/2014 0.08388 0.08388 - - -
09/15/2014 09/17/2014 09/30/2014 0.08500 0.08500 - - -
08/15/2014 08/19/2014 08/29/2014 0.08300 0.08300 - - -
07/15/2014 07/17/2014 07/31/2014 0.08800 0.08800 - - -
06/13/2014 06/17/2014 06/30/2014 0.08733 0.08733 - - -
05/15/2014 05/19/2014 05/30/2014 0.08803 0.08803 - - -
04/15/2014 04/17/2014 04/30/2014 0.08734 0.08734 - - -
03/14/2014 03/18/2014 03/31/2014 0.09000 0.09000 - - -
02/14/2014 02/19/2014 02/28/2014 0.08846 0.08846 - - -
01/15/2014 01/17/2014 01/31/2014 0.07713 0.07713 - - -
12/13/2013 12/17/2013 12/31/2013 0.08400 0.08400 - - -
11/15/2013 11/19/2013 11/29/2013 0.09440 0.09440 - - -
10/15/2013 10/17/2013 10/31/2013 0.09900 0.09900 - - -
09/13/2013 09/17/2013 09/30/2013 0.09900 0.09900 - - -
08/15/2013 08/19/2013 08/30/2013 0.09900 0.09900 - - -

Frequency Distribution of Discounts & Premiums

    Bid/Ask MidPoint Above NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2019 61 25 0 1 0 0 0
12/31/2018 63 1 0 0 0 0 0
09/30/2018 63 18 0 0 0 0 0
06/30/2018 64 30 0 0 0 0 0
Year Ended 2018 251 60 0 0 0 0 0
    Bid/Ask Midpoint Below NAV
Quarter
Ending
Days 0.00-
0.25%
0.26-
0.50%
0.51-
0.99%
1.00-
1.49%
1.50-
1.99%
≥2.00%
03/31/2019 61 29 5 1 0 0 0
12/31/2018 63 20 33 9 0 0 0
09/30/2018 63 38 7 0 0 0 0
06/30/2018 64 29 5 0 0 0 0
Year Ended 2018 251 129 52 10 0 0 0

Fund Inception: 06/20/2013

Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results.


 Risk & Other Information

† 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.

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.

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

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

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

The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.

The Fund will invest in bonds with short-term maturity (three years or less) which may have additional risks, including interest rate changes over the life of the bond. The average maturity of the Fund's investments will affect the volatility of the Fund's share price.

Issuers of sovereign debt or the governmental authorities that control repayment may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of default. Without debt holder approval, some governmental debtors may be able to reschedule or restructure their debt payments or declare moratoria on payments.

The Fund may invest in obligations issued or guaranteed by supranational entities. If one or more shareholders fails to make necessary additional capital contributions, the entity may be unable to pay interest or repay principal on its debt securities.

The Fund's use of a representative sampling approach will result in its holding a smaller number of securities than are in the underlying Index, and may be subject to greater volatility.

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

The performance of an investment concentrated in issuers of a certain region or country is expected to be closely tied to conditions within that region and to be more volatile than more geographically diversified investments.

The ICE BofAML 0-5 Year US High Yield Constrained Index is an unmanaged index comprised of US dollar-denominated, below investment-grade corporate debt securities publicly issued in the US domestic market with remaining maturities of less than five years.

The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.

"Deutsche Bank" and the DB Global Short Maturity High Yield Bond Index are reprinted with permission. © Copyright 2017 Deutsche Bank AG. All rights reserved. "Deutsche Bank" is a service mark of Deutsche Bank AG and has been licensed for use for certain purposes by the adviser. The Fund is not sponsored, endorsed, sold or promoted by Deutsche Bank AG or any of its affiliates of subsidiaries. Deutsche Bank AG and Deutsche Bank Securities Inc., as Index Provider, make no representation, express or implied, regarding the advisability of investing in this product. As the Index Provider, Deutsche Bank AG and Deutsche Bank Securities Inc. are licensing certain trademarks, the underlying Index and trade names which are composed by Deutsche Bank AG and Deutsche Bank Securities Inc. without regard to this Index, this product or any investor.

Beta is a measure of risk representing how a security is expected to respond to general market movements. Smart Beta represents an alternative and selection index based methodology that seeks to outperform a benchmark or reduce portfolio risk, or both. Smart beta funds may underperform cap-weighted benchmarks and increase portfolio risk.

as of 09/17/2019
10:35 AM EST

PGHY
Intraday Stats

  • Last Trade $23.02
  • Current IIV $23.06
  • Change -$0.03
  • % Change -0.13%
as of 09/16/2019
  • NAV at market close $22.98

as of 09/16/2019

Fund Yield

  • SEC 30 Day Yield 6.85%
  • Distribution Rate 5.12%
  • 12 Month Distribution Rate 5.28%
  • 30-Day SEC Unsubsidized Yield
    as of 09/16/2019
    6.85%
as of 09/16/2019

Prior Close

  • Closing Price $23.05
  • Bid/Ask Midpoint $23.03
  • Bid/Ask Prem/Disc $0.05
  • Bid/Ask Prem/Disc 0.22%
as of 09/13/2019

Fund Characteristics

  • Effective Duration 1.12 yrs
  • Modified Duration 1.15 yrs
  • Yield to Maturity 9.71%
  • Yield to Worst 7.45%
  • Years to Maturity 1.44
  • Weighted Avg Coupon 6.16%
  • Weighted Avg Price
    as of 09/13/2019
    94.22
As of June 5, 2015, the source of the calculation for these fund characteristics was changed from Aladdin (BRS) to Bloomberg.

Fund Details

  • Fund Ticker PGHY
  • CUSIP # 46138E669
  • ISIN US46138E6692
  • Intraday NAV PGHYIV
  • Index Ticker DBLQSTHY
  • Index Provider Deutsche Bank AG London
  • Management Fee 0.35%
  • Total Expense Ratio 0.35%
  • Marginable Yes
  • Short Selling Yes
  • Options No
  • Exchange NYSE Arca
  • Inception Date 06/20/2013
  • # of Holdings 540
    as of 09/16/2019
as of 09/17/2019

Quick Facts

  • Previous Close $23.05
  • Open $23.01
  • Today's High $23.07
  • Today's Low $22.99
  • Today's Volume 1,470
  • 58,252 30-Day Avg Trading
    Volume
  • 52 Week High $23.44
  • 52 Week Low $22.64
  • Shares Outstanding 10.00MM
  • Market Value $229.8MM