Exchange-Traded Funds

BKLN - Invesco Senior Loan ETF

Alternative - Bank Loans

Product details

The Invesco Senior Loan ETF (Fund) is based on the S&P/LSTA U.S. Leveraged Loan 100 Index (Index). The Fund will normally invest at least 80% of its total assets in the component securities that comprise the Index. The Index is designed to track the market-weighted performance of the largest institutional leveraged loans based on market weightings, spreads and interest payments. The Fund and the Index are rebalanced and reconstituted bi-annually, in June and December.

as of 11/30/2018 09/30/2018

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
S&P/LSTA U.S. Leveraged Loan 100 Index 3.97 4.96 5.20 3.56 N/A 3.87
Bloomberg Barclays U.S. Aggregate Bond Index -1.60 -1.22 1.31 2.16 3.77 2.77
S&P/LSTA U.S. Leveraged Loan 100 Index 2.62 2.95 5.11 3.01 8.39 3.61
Bloomberg Barclays U.S. Aggregate Bond Index -1.79 -1.34 1.33 2.03 3.67 2.69
Fund History (%)
Fund NAV 3.50 4.18 4.29 2.81 N/A 3.27
After Tax Held 2.27 2.54 2.56 1.09 N/A 1.55
After Tax Sold 2.06 2.43 2.49 1.35 N/A 1.75
Fund Market Price 3.55 3.96 4.30 2.77 N/A 3.18
Fund NAV 2.18 2.39 4.08 2.28 N/A 3.02
After Tax Held 0.67 0.73 2.36 0.57 N/A 1.31
After Tax Sold 1.29 1.40 2.35 0.96 N/A 1.57
Fund Market Price 2.00 2.30 4.10 2.20 N/A 2.91

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 09/30/2018

Growth of $10,000

Data beginning Fund inception and ending 09/30/2018. 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 The results assume that no cash was added to or assets withdrawn from the Index.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.

Quality Allocations as of 12/12/2018

S&P Moody's
BBB : 22% Baa : 9%
BB : 30% Ba : 24%
B : 40% B : 39%
CCC : 4% Caa : 2%
Not Rated : 2% Not Rated : 23%

Credit rating quality allocations data applies to securities only — not money market instruments.

as of 12/12/2018 Maturity

Years % of Fund
0 - 1 years 0.98
1 - 5 years 34.86
5 - 10 years 64.17
10 - 15 years 0.00
15 - 20 years 0.00
20 - 25 years 0.00
25 years and over 0.00
as of 12/12/2018

Asset Type Allocation

as of 12/12/2018Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date S&P / Moody's Rating† Weight
BURGER KING 4.59% 02/16/2024 BB-/NR 1.97%
CENTURYLINK, INC. 5.09% 01/31/2025 BBB-/BA3 1.94%
Charter Communications Operating 4.35% 04/13/2025 BBB-/BA1 1.94%
Grifols Worldwide 4.48% 01/31/2025 BB+/BA2 1.81%
Financial & Risk US Holdings, Inc. 6.09% 09/18/2025 B/B2 1.72%
CHANGE HEALTHCA 5.09% 03/01/2024 B+/BA3 1.66%
Level 3 Financing Inc 4.62% 02/22/2024 BBB-/BA1 1.54%
Caesars Resort Collection 5.09% 10/02/2024 BB/BA3 1.53%
VALEANT PHARMACEUTICALS INTL, INC 5.38% 05/30/2025 BB-/Ba2 1.51%
Dell International LLC 4.10% 09/07/2021 BBB-/BAA3 1.51%

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
11/19/2018 11/20/2018 11/30/2018 0.08504 0.08504 - - -
10/22/2018 10/23/2018 10/31/2018 0.08033 0.08033 - - -
09/24/2018 09/25/2018 09/28/2018 0.07913 0.07913 - - -
08/20/2018 08/21/2018 08/31/2018 0.08000 0.08000 - - -
07/23/2018 07/24/2018 07/31/2018 0.08000 0.08000 - - -
06/18/2018 06/19/2018 06/29/2018 0.07913 0.07913 - - -
05/21/2018 05/22/2018 05/31/2018 0.07417 0.07417 - - -
04/23/2018 04/24/2018 04/30/2018 0.07164 0.07164 - - -
03/19/2018 03/20/2018 03/29/2018 0.07583 0.07583 - - -
02/20/2018 02/21/2018 02/28/2018 0.07013 0.07013 - - -
01/22/2018 01/23/2018 01/31/2018 0.06604 0.06604 - - -
12/18/2017 12/19/2017 12/29/2017 0.07750 0.07750 - - -
11/20/2017 11/21/2017 11/30/2017 0.06280 0.06280 - - -
10/23/2017 10/24/2017 10/31/2017 0.07000 0.07000 - - -
09/18/2017 09/19/2017 09/29/2017 0.07006 0.07006 - - -
08/15/2017 08/17/2017 08/31/2017 0.06905 0.06905 - - -
07/14/2017 07/18/2017 07/31/2017 0.06430 0.06430 - - -
06/15/2017 06/19/2017 06/30/2017 0.06310 0.06310 - - -
05/15/2017 05/17/2017 05/31/2017 0.06334 0.06334 - - -
04/13/2017 04/18/2017 04/28/2017 0.06462 0.06462 - - -
03/15/2017 03/17/2017 03/31/2017 0.06500 0.06500 - - -
02/15/2017 02/17/2017 02/28/2017 0.06750 0.06750 - - -
01/13/2017 01/18/2017 01/31/2017 0.07000 0.07000 - - -
12/15/2016 12/19/2016 12/30/2016 0.08001 0.08001 - - -
11/15/2016 11/17/2016 11/30/2016 0.07106 0.07106 - - -
10/14/2016 10/18/2016 10/31/2016 0.08250 0.08250 - - -
09/15/2016 09/19/2016 09/30/2016 0.09750 0.09750 - - -
08/15/2016 08/17/2016 08/31/2016 0.09750 0.09750 - - -
07/15/2016 07/19/2016 07/29/2016 0.09750 0.09750 - - -
06/15/2016 06/17/2016 06/30/2016 0.09500 0.09500 - - -
05/13/2016 05/17/2016 05/31/2016 0.09500 0.09500 - - -
04/15/2016 04/19/2016 04/29/2016 0.09000 0.09000 - - -
03/15/2016 03/17/2016 03/31/2016 0.08600 0.08600 - - -
02/12/2016 02/17/2016 02/29/2016 0.08400 0.08400 - - -
01/15/2016 01/20/2016 01/29/2016 0.08350 0.08350 - - -
12/15/2015 12/17/2015 12/31/2015 0.08248 0.08248 - - -
11/13/2015 11/17/2015 11/30/2015 0.08081 0.08081 - - -
10/15/2015 10/19/2015 10/30/2015 0.08027 0.08027 - - -
09/15/2015 09/17/2015 09/30/2015 0.07964 0.07964 - - -
08/14/2015 08/18/2015 08/31/2015 0.07852 0.07852 - - -
07/15/2015 07/17/2015 07/31/2015 0.07624 0.07624 - - -
06/15/2015 06/17/2015 06/30/2015 0.07537 0.07537 - - -
05/15/2015 05/19/2015 05/29/2015 0.07440 0.07440 - - -
04/15/2015 04/17/2015 04/30/2015 0.07346 0.07346 - - -
03/13/2015 03/17/2015 03/31/2015 0.07304 0.07304 - - -
02/13/2015 02/18/2015 02/27/2015 0.07389 0.07389 - - -
01/15/2015 01/20/2015 01/30/2015 0.07500 0.07500 - - -
12/15/2014 12/17/2014 12/31/2014 0.07600 0.07600 - - -
11/14/2014 11/18/2014 11/28/2014 0.08000 0.08000 - - -
10/15/2014 10/17/2014 10/31/2014 0.08928 0.08928 - - -
09/15/2014 09/17/2014 09/30/2014 0.08569 0.08569 - - -
08/15/2014 08/19/2014 08/29/2014 0.08380 0.08380 - - -
07/15/2014 07/17/2014 07/31/2014 0.08224 0.08224 - - -
06/13/2014 06/17/2014 06/30/2014 0.08116 0.08116 - - -
05/15/2014 05/19/2014 05/30/2014 0.08102 0.08102 - - -
04/15/2014 04/17/2014 04/30/2014 0.08025 0.08025 - - -
03/14/2014 03/18/2014 03/31/2014 0.08259 0.08259 - - -
02/14/2014 02/19/2014 02/28/2014 0.08348 0.08348 - - -
01/15/2014 01/17/2014 01/31/2014 0.08409 0.08409 - - -
12/13/2013 12/17/2013 12/31/2013 0.08406 0.08406 - - -
11/15/2013 11/19/2013 11/29/2013 0.08434 0.08434 - - -
10/15/2013 10/17/2013 10/31/2013 0.08300 0.08300 - - -
09/13/2013 09/17/2013 09/30/2013 0.08300 0.08300 - - -
08/15/2013 08/19/2013 08/30/2013 0.09000 0.09000 - - -
07/15/2013 07/17/2013 07/31/2013 0.09050 0.09050 - - -
06/14/2013 06/18/2013 06/28/2013 0.09012 0.09012 - - -
05/15/2013 05/17/2013 05/31/2013 0.09213 0.09213 - - -
04/15/2013 04/17/2013 04/30/2013 0.09536 0.09536 - - -
03/15/2013 03/19/2013 03/28/2013 0.09570 0.09570 - - -
02/15/2013 02/20/2013 02/28/2013 0.10025 0.10025 - - -
01/15/2013 01/17/2013 01/31/2013 0.10642 0.10642 - - -
12/14/2012 12/18/2012 12/31/2012 0.09750 0.09750 - - -
11/15/2012 11/19/2012 11/30/2012 0.10027 0.10027 - - -
10/15/2012 10/17/2012 10/31/2012 0.10307 0.10307 - - -
09/14/2012 09/18/2012 09/28/2012 0.09115 0.09115 - - -
08/15/2012 08/17/2012 08/31/2012 0.09103 0.09103 - - -
07/13/2012 07/17/2012 07/31/2012 0.10412 0.10412 - - -
06/15/2012 06/19/2012 06/29/2012 0.09983 0.09983 - - -
05/15/2012 05/17/2012 05/31/2012 0.10476 0.10476 - - -
04/13/2012 04/17/2012 04/30/2012 0.10697 0.10697 - - -
03/15/2012 03/19/2012 03/30/2012 0.10100 0.10100 - - -
02/15/2012 02/17/2012 02/29/2012 0.10120 0.10120 - - -
01/13/2012 01/18/2012 01/31/2012 0.09984 0.09984 - - -
12/15/2011 12/19/2011 12/30/2011 0.11592 0.11592 - - -
11/15/2011 11/17/2011 11/30/2011 0.10292 0.10292 - - -
10/14/2011 10/18/2011 10/31/2011 0.11557 0.11557 - - -
09/15/2011 09/19/2011 09/30/2011 0.08600 0.08600 - - -
08/15/2011 08/17/2011 08/31/2011 0.08317 0.08317 - - -
07/15/2011 07/19/2011 07/29/2011 0.07568 0.07568 - - -
06/15/2011 06/17/2011 06/30/2011 0.07726 0.07726 - - -
05/13/2011 05/17/2011 05/31/2011 0.07600 0.07600 - - -
04/15/2011 04/19/2011 04/29/2011 0.07357 0.07357 - - -

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%
09/30/2018 63 4 0 0 0 0 0
06/30/2018 64 8 0 0 0 0 0
03/31/2018 61 29 0 0 0 0 0
12/31/2017 63 8 0 0 0 0 0
Year Ended 2017 251 122 1 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%
09/30/2018 63 58 1 0 0 0 0
06/30/2018 64 53 3 0 0 0 0
03/31/2018 61 29 3 0 0 0 0
12/31/2017 63 51 4 0 0 0 0
Year Ended 2017 251 119 9 0 0 0 0

Fund Inception: 03/03/2011

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.

Most senior loans are made to corporations with below investment-grade credit ratings and are subject to significant credit, valuation and liquidity risk. The value of the collateral securing a loan may not be sufficient to cover the amount owed, may be found invalid or may be used to pay other outstanding obligations of the borrower under applicable law. There is also the risk that the collateral may be difficult to liquidate, or that a majority of the collateral may be illiquid.

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 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.

The Fund may hold illiquid securities that it may be unable to sell at the preferred time or price and could lose its entire investment in such securities.

Under a participation in senior loans, the fund generally will have rights that are more limited than those of lenders or of persons who acquire a senior loan by assignment. In a participation, the fund assumes the credit risk of the lender selling the participation in addition to the credit risk of the borrower. In the event of the insolvency of the lender selling the participation, the fund may be treated as a general creditor of the lender and may not have a senior claim to the lender's interest in the senior loan. Certain participations in senior loans are illiquid and difficult to value.

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.

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

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

S&P® is a registered trademark of Standard & Poor's Financial Services LLC (S&P) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones). These trademarks have been licensed for use by S&P Dow Jones Indices LLC. S&P® and Standard & Poor's® are trademarks of S&P and Dow Jones® is a trademark of Dow Jones. These trademarks have been sublicensed for certain purposes by Invesco Capital Management LLC. The Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Invesco. The Fund is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates make any representation regarding the advisability of investing in such product(s).

as of 12/13/2018
4:00 PM EST

BKLN
Intraday Stats

  • Last Trade $22.42
  • Current IIV $22.44
  • Change $0.08
  • % Change 0.36%
as of 12/13/2018
  • NAV at market close $22.47

as of 12/13/2018

Fund Yield

  • SEC 30 Day Yield 5.08%
  • Distribution Rate 4.54%
  • 12 Month Distribution Rate 4.09%
  • 30-Day SEC Unsubsidized Yield
    as of 12/13/2018
    5.06%
as of 12/13/2018

Prior Close

  • Closing Price $22.34
  • Bid/Ask Midpoint $22.43
  • Bid/Ask Prem/Disc -$0.04
  • Bid/Ask Prem/Disc -0.18%
as of 12/07/2018

Fund Characteristics*

  • Yield to Maturity 6.09%
  • Weighted Avg Maturity 5.24
  • Weighted Avg Coupon 5.30%
  • Days To Reset 26.23
as of 12/12/2018
  • 3 Month LIBOR 2.78%
  • Weighted Avg Price 95.87
*Applies to loan portion only

Fund Details

  • Fund Ticker BKLN
  • CUSIP # 46138G508
  • ISIN US46138G5080
  • Intraday NAV BKLNIV
  • Index Ticker SPBDLL
  • Index Provider S&P Dow Jones Indices LLC
  • Management Fee 0.65%
  • Acquired Fund Fees & Expenses 0.02%
  • Total Expense Ratio 0.67%
  • Fee Waiver 0.02%
  • Net Expense Ratio 0.65%
  • Marginable Yes
  • Short Selling Yes
  • Options Yes
  • Exchange NYSE Arca
  • Inception Date 03/03/2011
  • NAIC Designation Preliminary 4+ as of 03/22/18
  • # of Holdings 119
    as of 12/12/2018

SVO Disclosure

The Securities Valuation Office of the National Association of Insurance Commissioners (NAIC) assigns credit quality designations to securities held by state-regulated insurance companies. NAIC Designations are opinions of credit quality that range from NAIC 1, being the highest quality, to NAIC 6, being the lowest quality. “P” is a valuation indicator used to classify perpetual preferred stock. NAIC designations allow ETFs to be reported as bonds or preferred stock (as appropriate) on NAIC Schedule D and are used to set Risk-Based Capital (RBC) requirements. NAIC designations only measure credit risk and do not measure other risks or factors that may affect repayment, such as volatility/interest rate, prepayment, extension or liquidity risk. Refer to official NAIC publication and guidance for official NAIC policies and definitions.

Preliminary NAIC Designation Disclosure:

Preliminary NAIC Designations are the intellectual property of the National Association of Insurance Commissioners (NAIC) and are redistributed here under License. A Preliminary NAIC Designation is an opinion of the NAIC Securities Valuation Office (SVO) of the probable credit quality designation that would be assigned by the SVO to an investment if purchased by an insurance company and reported to the SVO. A Preliminary NAIC Designations is only one of the regulatory factors considered by the SVO as part of its analysis of probable regulatory treatment under the Regulatory Treatment Analysis Service. A full discussion of such other regulatory factors is set forth in the RTAS Letter provided to Invesco PowerShares Capital Management LLC. A Preliminary NAIC Designation cannot be used to report the ETF to state insurance regulators. However, the purchasing insurance company may obtain an NAIC Designation for the ETF by filing the security and final documents for the ETF with the SVO. The indication of probable regulatory treatment indicated by a Preliminary NAIC Designation is not a recommendation to purchase the ETF and is not intended to convey approval or endorsement of the ETF Sponsor or the ETF by the NAIC.

Official NAIC Designation Disclosure:

NAIC Designations are the intellectual property of the National Association of Insurance Commissioners (NAIC) and are redistributed here under License. An NAIC Designation is a proprietary symbol used by the NAIC Securities Valuation Office (SVO) to denote a category or band of credit risk (i.e., the likelihood of repayment in accordance with a written contract) for an issuer or for a security. NAIC Designations may be notched up or down to reflect the position of a specific liability in the issuer’s capital structure and/or the existence of other non-payment risk in the specific security. Under NAIC reporting rules, shares of an ETF are presumed to be reportable as common stock. The SVO may classify an ETF as a bond or preferred stock and assign it an NAIC Designation if it meets defined criteria. For a discussion of these criteria please call the SVO or refer to the Purposes and Procedures Manual of the NAIC Securities Valuation Office. The assignment of an NAIC Designation is not a recommendation to purchase the ETF and is not intended to convey approval or endorsement of the ETF Sponsor or the ETF by the NAIC.

as of 12/13/2018

Quick Facts

  • Previous Close $22.34
  • Open $22.34
  • Today's High $22.44
  • Today's Low $22.31
  • Today's Volume 8,841,326
  • 12,530,148 30-Day Avg Trading
    Volume
  • 52 Week High $23.27
  • 52 Week Low $21.86
  • Shares Outstanding 265.20MM
  • Market Value $5,959.6MM