The Invesco BulletShares® 2030 High Yield Corporate Bond ETF (Fund) is based on the Nasdaq BulletShares® USD High Yield Corporate Bond 2030 Index (Index). The Fund will invest at least 80% of its total assets in corporate bonds that comprise the index. The Index seeks to measure the performance of a portfolio of US dollar-denominated, high yield corporate bonds with effective maturities in 2030. 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 monthly. The Fund has a designated year of maturity of 2030 and will terminate on or about Dec. 15, 2030. See the prospectus for more information.
|Index History (%)||YTD||1Yr||3Yr||5Yr||10Yr||Since Inception|
|Nasdaq BulletShares USD High Yield Corporate Bond 2030-TR||7.70||6.21||-1.21||N/A||N/A||5.62|
|Bloomberg US Corporate High Yield Total Return Index||7.13||7.16||1.81||3.32||4.47||6.68|
|Fund History (%)|
|After Tax Held||5.29||N/A||N/A||N/A||N/A||2.24|
|After Tax Sold||4.28||N/A||N/A||N/A||N/A||3.00|
|Fund Market Price||7.02||N/A||N/A||N/A||N/A||4.76|
|Index History (%)||YTD||1Yr||3Yr||5Yr||10Yr||Since Inception|
|Nasdaq BulletShares USD High Yield Corporate Bond 2030-TR||6.14||8.39||N/A||N/A||N/A||4.10|
|Bloomberg US Corporate High Yield Total Return Index||5.38||9.06||3.13||3.36||4.43||4.94|
|Fund History (%)|
|After Tax Held||4.39||N/A||N/A||N/A||N/A||1.36|
|After Tax Sold||3.47||N/A||N/A||N/A||N/A||2.20|
|Fund Market Price||6.05||N/A||N/A||N/A||N/A||3.81|
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. 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.
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.
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|Net Asset Value (NAV)||$|
|Weighted Average Yield to Worst (YTW)1|
|+ Price Adjustment2|
|= Price Adjusted Weighted Average Yield to Worst3|
|- Expense Ratio||-|
|Estimated Net Acquisition Yield4|
1. Weighted Average Yield to Worst uses the lowest discount rate for all possible redemption date scenarios with its market price. A fund's Average YTW is defined as the weighted average of a fund's individual bond holding YTW and is based upon the price of each individual bond that was utilized to calculate that day's net asset value and does not include fund fees and expenses.
2. Price Adjustment is an adjustment made to the Weighted Average Yield to Worst (which is based upon NAV) to extent that the Purchase Price is above or below NAV. A Purchase Price that is greater than NAV will effectively reduce the Weighted Average Yield to Worst, while Purchase Price less than NAV will effectively increase the Weighted Average Yield to Worst. The Price Adjustment is an approximation.
Price Adjustment = [NAV - Purchase Price / (NAV X Average Duration at most recent quarter end)]
3. Price Adjusted Weighted Average Yield to Worst is the sum of the weighted average yield to worst and the price adjustment.
4. Estimated Net Acquisition Yield is an approximation of the Weighted Average Yield to Worst a shareholder may experience given the impact of purchase price and the fund's expense ratio on the Weighted Average Yield to Worst based upon NAV.
Estimated Net Acquisition Weighted Average Yield to Worst = Weighted Average Yield to Worst + Price Adjustment - Expense Ratio
Note: Net asset value data is based on daily data and Weighted Average Yield to Worst data is based on weekly data.
|Sector||Percent of Fund|
Quality Allocations† as of 09/29/2023
|BB : 53%||Ba : 48%|
|B : 36%||B : 41%|
|CCC : 10%||Caa : 11%|
|Years||% of Fund|
|0 - 1 years||0.00|
|1 - 5 years||0.00|
|5 - 10 years||100.00|
|10 - 15 years||0.00|
|15 - 20 years||0.00|
|20 - 25 years||0.00|
|25 years and over||0.00|
as of 09/29/2023 Top Fixed-Income Holdings | View All
|Holding Name||Coupon Rate||Maturity Date||Next Call Date||S&P / Moody's Rating†||Weight|
|Intelsat Jackson Holdings SA||6.50%||03/15/2030||03/15/2025||B+/B2||3.00%|
|1011778 BC ULC / New Red Finance Inc||4.00%||10/15/2030||10/15/2025||B+/B2||2.77%|
|Emerald Debt Merger Sub LLC||6.62%||12/15/2030||06/15/2026||BB-/Ba3||2.47%|
|Caesars Entertainment Inc||7.00%||02/15/2030||02/15/2026||B+/Ba3||2.21%|
|AthenaHealth Group Inc||6.50%||02/15/2030||02/15/2025||CCC/Caa2||2.19%|
|Weatherford International Ltd||8.62%||04/30/2030||10/30/2024||B/B3||1.82%|
|Chart Industries Inc||7.50%||01/01/2030||01/01/2026||B+/Ba3||1.71%|
|Ford Motor Credit Co LLC||7.35%||03/06/2030||01/06/2030||BB+/Ba1||1.70%|
Holdings are subject to change and are not buy/sell recommendations.
Risk & Other Information
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 are 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 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 intend 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.
Reinvestment risk is the risk that a bond’s cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.
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.
The Fund’s use of a representative sampling approach will result in it holding a smaller number of securities than are in the underlying Index, and may be subject to greater volatility.
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, including emerging market issuers, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
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 Bloomberg U.S. Corporate High Yield Index is an unmanaged index considered representative of fixed-rate, non investment-grade debt.
Nasdaq BulletShares® USD 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.