IMFC - Invesco Multi-Factor Core Fixed Income ETF

Fixed Income - US Fixed Income

Product Details

The Invesco Multi-Factor Core Fixed Income ETF (Fund) is based on the Invesco Multi-Factor Core Index (Index). The Fund generally will invest at least 80% of its total assets in securities that comprise the Index, which is designed to provide multi-factor exposure to fixed income securities in the following weights: 40% in mortgage-backed securities, 25% higher-quality US investment grade, 20% 1-3 year Treasuries, 10% 10-30 year Treasuries, and 5% higher-value US investment grade. Each underlying segment has its own eligibility criteria for assessing value and quality factors or characteristics. The Fund does not purchase all the securities in the Index; instead, it utilizes a “sampling” methodology to seek to achieve its investment objective. The Fund and Index are rebalanced monthly.

as of 07/31/2019 06/30/2019

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
Invesco Multi-Factor Core Index 5.16 7.00 N/A N/A N/A 7.06
Bloomberg Barclays U.S. Aggregate Bond Index 6.11 7.87 2.31 2.95 3.90 7.82
Invesco Multi-Factor Core Index 5.38 7.35 N/A N/A N/A 7.17
Bloomberg Barclays U.S. Aggregate Bond Index 6.35 8.08 2.17 3.05 3.75 7.93
Fund History (%)
Fund NAV 5.03 N/A N/A N/A N/A 6.89
After Tax Held 4.37 N/A N/A N/A N/A 5.62
After Tax Sold 2.97 N/A N/A N/A N/A 4.05
Fund Market Price 5.11 N/A N/A N/A N/A 7.18
Fund NAV 5.18 7.12 N/A N/A N/A 6.92
After Tax Held 4.41 5.74 N/A N/A N/A 5.56
After Tax Sold 3.05 4.19 N/A N/A N/A 4.68
Fund Market Price 5.38 7.33 N/A N/A N/A 7.33

This is a new Fund and has no full-year Fund performance to report as of most recent quarter end.

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. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

Quality Allocations as of 08/16/2019

Rating % of Fund
AAA 71.24%
AA+ 1.22%
AA 2.43%
AA- 6.29%
A+ 4.61%
A 6.59%
A- 4.26%
BBB+ 2.58%
BBB 0.79%

Cash is excluded from the credit rating quality allocations table.

as of 08/16/2019 Maturity

Years % of Fund
0 - 1 years 1.55
1 - 5 years 38.61
5 - 10 years 9.79
10 - 15 years 0.27
15 - 20 years 0.41
20 - 25 years 5.09
25 years and over 44.27

as of 08/16/2019Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
Fannie Mae Pool 3.50% 07/01/2049 N/A AA+u/Aaa 1.18%
United States Treasury Note/Bond 4.75% 02/15/2041 N/A AA+u/Aaa 1.16%
Freddie Mac Gold Pool 4.50% 06/01/2048 N/A AA+u/Aaa 1.14%
United States Treasury Note/Bond 4.38% 05/15/2041 N/A AA+u/Aaa 1.11%
Freddie Mac Gold Pool 3.50% 04/01/2047 N/A AA+u/Aaa 1.10%
Fannie Mae Pool 3.50% 11/01/2047 N/A AA+u/Aaa 1.06%
Fannie Mae Pool 4.00% 10/01/2048 N/A AA+u/Aaa 1.03%
Fannie Mae Pool 4.00% 11/01/2047 N/A AA+u/Aaa 1.03%
Fannie Mae Pool 4.00% 07/01/2048 N/A AA+u/Aaa 1.03%
Freddie Mac Gold Pool 4.00% 10/01/2048 N/A AA+u/Aaa 1.03%

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
07/22/2019 07/23/2019 07/31/2019 0.06652 0.06652 - - -
06/24/2019 06/25/2019 06/28/2019 0.06430 0.06430 - - -
05/20/2019 05/21/2019 05/31/2019 0.06764 0.06764 - - -
04/22/2019 04/23/2019 04/30/2019 0.06460 0.06460 - - -
03/18/2019 03/19/2019 03/29/2019 0.06986 0.06986 - - -
02/19/2019 02/20/2019 02/28/2019 0.06119 - - - -
01/22/2019 01/23/2019 01/31/2019 0.06652 0.06652 - - -
12/26/2018 12/27/2018 12/31/2018 - - 0.00316 - -
12/24/2018 12/26/2018 12/31/2018 0.10435 0.10435 - - -
11/19/2018 11/20/2018 11/30/2018 0.06331 0.06331 - - -
10/22/2018 10/23/2018 10/31/2018 0.05817 0.05817 - - -
09/24/2018 09/25/2018 09/28/2018 0.07368 0.07368 - - -
08/20/2018 08/21/2018 08/31/2018 0.04455 0.04455 - - -

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 41 0 0 0 0 0
12/31/2018 63 8 0 0 0 0 0
09/30/2018 47 15 0 0 0 0 0
Year Ended 2018 110 23 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 20 0 0 0 0 0
12/31/2018 63 55 0 0 0 0 0
09/30/2018 47 32 0 0 0 0 0
Year Ended 2018 110 87 0 0 0 0 0

Fund Inception: 07/25/2018

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

† Ratings are based on S&P, Moody's or Fitch, as applicable. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations, including specific securities, money market instruments or other debts. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest); ratings are subject to change without notice. NR indicates the debtor was not rated, and should not be interpreted as indicating low quality. If securities are rated differently by the rating agencies, the higher rating is applied. Credit ratings are based largely on the rating agency's investment analysis at the time of rating and the rating assigned to any particular security is not necessarily a reflection of the issuer's current financial condition. The rating assigned to a security by a rating agency does not necessarily reflect its assessment of the volatility of a security's market value or of the liquidity of an investment in the security. For more information on the rating methodology, please visit the following NRSRO websites: standardandpoors.com and select 'Understanding Ratings' under Rating Resources on the home page; moodys.com and select 'Rating Methodologies' under Research and Ratings on the home page; fitchratings.com and select 'Ratings Definitions' on the home page.

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.

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.

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

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.

Mortgage- and asset-backed securities, which are subject to call (prepayment) risk, reinvestment risk and extension risk. These securities are also susceptible to an unexpectedly high rate of defaults on the mortgages held by a mortgage pool, which may adversely affect their value. The risk of such defaults depends on the quality of the mortgages underlying such security, the credit quality of its issuer or guarantor, and the nature and structure of its credit support.

Obligations issued by US Government agencies and instrumentalities may receive varying levels of support from the government, which could affect the fund’s ability to recover should they default.

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 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.

The fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index.

The Invesco Multi-Factor Core Index is a trademark of Invesco Indexing LLC (index provider) and has been licensed for use by Invesco Capital Management LLC (investment adviser). Invesco Indexing LLC, Invesco Capital Management LLC, and Invesco Distributors, Inc. (ETF distributor) are wholly owned, indirect subsidiaries of Invesco Ltd.

The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index considered representative of the US investment-grade, fixed-rate bond market.

as of 08/16/2019
4:15 PM EST

IMFC
Intraday Stats

  • Last Trade $26.43
  • Current IIV $26.37
  • Change -$0.04
  • % Change -0.17%
as of 08/16/2019
  • NAV at market close $26.40

as of 08/16/2019

Fund Yield

  • SEC 30 Day Yield 2.14%
  • Distribution Rate 1.01%
  • 12 Month Distribution Rate 3.05%
  • 30-Day SEC Unsubsidized Yield
    as of 08/15/2019
    2.18%
as of 08/16/2019

Prior Close

  • Closing Price $26.48
  • Bid/Ask Midpoint $26.43
  • Bid/Ask Prem/Disc $0.03
  • Bid/Ask Prem/Disc 0.11%
as of 08/15/2019

Fund Characteristics

  • Effective Duration 3.91 yrs
  • Yield to Maturity 2.09%
  • Yield to Worst 2.09%
  • Weighted Avg Life 5.52
  • Weighted Avg Coupon 3.27%
  • Weighted Avg Price
    as of 08/16/2019
    105.85

Fund Details

  • Fund Ticker IMFC
  • CUSIP # 46139W700
  • ISIN US46139W7002
  • Intraday NAV IMFCIV
  • Index Ticker IIMFC
  • Index Provider Invesco Indexing
  • Management Fee 0.12%
  • Total Expense Ratio 0.12%
  • Marginable Yes
  • Short Selling Yes
  • Options No
  • Exchange NYSE Arca
  • Inception Date 07/25/2018
  • # of Holdings 206
    as of 08/16/2019
as of 08/16/2019

Quick Facts

  • Previous Close $26.48
  • Open $26.43
  • Today's High $26.43
  • Today's Low $26.43
  • Today's Volume 4
  • 190 30-Day Avg Trading
    Volume
  • 52 Week High $26.48
  • 52 Week Low $24.68
  • Shares Outstanding 1.00MM
  • Market Value $26.4MM