Equity | US Equity

Invesco Bloomberg Pricing Power ETF

Ticker: POWA

Product Details

The Invesco Bloomberg Pricing Power ETF (Fund) is based on the Bloomberg Pricing Power Index (Index). The Fund will invest at least 80% of its total assets in securities that comprise the Index. The Index is  composed of U.S. large- and mid-capitalization companies that the Index Provider believes, are well-positioned to maintain stable profit margins in all market conditions while focusing on companies that have the smallest deviations among their annual gross profit margins over the last five years. The Fund and the Index are rebalanced quarterly.

Effective after the close of markets on Aug. 25, 2023,  the Fund's name, ticker, underlying index, index provider,  investment objective, investment strategy and management fee changed. The Fund's name and ticker changed from Invesco Defensive Equity ETF (ticker: DEF) to the Invesco Bloomberg Pricing Power ETF (ticker: POWA). The Fund's Index Provider changed from Invesco Indexing LLC to Bloomberg Finance, L.P. and its Underlying Index changed from the Invesco Defensive Equity Index to the Bloomberg Pricing Power Index; and as a result, the Fund's objective and strategy changed to seek to track the investment results of the new Underlying index by investing at least 80% of its total assets in securities that comprise the new Underlying Index. The Fund's management fee was also reduced from 0.50% to 0.40%. See the prospectus for more information. 

as of 05/31/2024 03/31/2024

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Bloomberg Pricing Power Total Return Index (USD) 6.85 N/A N/A N/A N/A N/A
S&P 500 Index 11.30 28.19 9.57 15.80 12.69 9.94
Invesco Defensive Equity Index 7.40 20.37 7.92 11.10 N/A N/A
Fund History (%)
Fund NAV 6.69 20.69 7.63 10.66 9.57 8.67
After Tax Held 6.69 20.23 7.27 10.31 8.91 7.96
After Tax Sold 3.96 12.53 5.87 8.43 7.53 6.95
Fund Market Price 6.69 20.58 7.54 10.62 9.56 8.66
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Bloomberg Pricing Power Total Return Index (USD) 8.40 N/A N/A N/A N/A N/A
S&P 500 Index 10.56 29.88 11.49 15.05 12.96 10.00
Invesco Defensive Equity Index 9.40 18.56 10.74 11.46 N/A N/A
Fund History (%)
Fund NAV 8.31 18.37 10.28 10.93 10.30 8.85
After Tax Held 8.31 17.92 9.91 10.58 9.63 8.14
After Tax Sold 4.92 11.14 7.96 8.64 8.16 7.10
Fund Market Price 8.36 18.36 10.18 10.93 10.31 8.85

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 the result of a reorganization on April 6, 2018, the returns presented reflect performance of the Guggenheim predecessor fund. Invesco is not affiliated with Guggenheim.

as of 03/31/2024

Growth of $10,000

Data beginning 10 years prior to the ending date of 03/31/2024. 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.

Bloomberg Pricing Power Index* performance prior to October 24, 2016, reflects that of the original Underlying Index, Sabrient Defense Equity Index. From 10/24/2016 to August 25, 2023, Index performance reflects that of the previous Underlying Index, Invesco Defensive Equity Index. From August 25, 2023 forward, the Index performance reflects that the Underlying Index, Bloomberg Pricing Power Index AND IS NOT INTENDED FOR ANY THIRD PARTY USE.

as of 06/14/2024

Sector Allocation

Sector Percent of Fund
Industrials 29.46%
Health Care 21.99%
Information Technology 14.28%
Consumer Staples 11.83%
Consumer Discretionary 10.49%
Materials 5.87%
Real Estate 4.15%
Financials 1.92%
as of 06/13/2024

Market Cap & Style Allocations

Large-Cap Value 5.90%
Large-Cap Blend 19.95%
Large-Cap Growth 11.47%
Mid-Cap Value 9.95%
Mid-Cap Blend 38.97%
Mid-Cap Growth 13.75%
Small-Cap Value -
Small-Cap Blend -
Small-Cap Growth -

as of 06/14/2024 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
BBY Best Buy Co Inc 2.49
IRM Iron Mountain Inc 2.17
VRTX Vertex Pharmaceuticals Inc 2.16
COR Cencora Inc 2.16
LRCX Lam Research Corp 2.16
COST Costco Wholesale Corp 2.15
CDNS Cadence Design Systems Inc 2.15
MCK McKesson Corp 2.13
ROL Rollins Inc 2.12
HD Home Depot Inc/The 2.11
The characterizations of distributions reflected in this table are as of the date noted below. The actual amounts of income, capital gains and return of capital for tax purposes are only determined after the Fund’s fiscal year end, and may differ from the amounts and characterizations reflected in the chart below. Please refer to the Tax Center for the most current and/or final characterizations of these distributions, including any distributions characterized as return of capital.

Distributions | Hide View All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital Liquidation Distribution
12/18/2023 12/19/2023 12/22/2023 1.15776 1.15776 - - - -
12/19/2022 12/20/2022 12/23/2022 0.98146 0.98146 - - - -
12/20/2021 12/21/2021 12/31/2021 0.77772 0.77772 - - - -
12/21/2020 12/22/2020 12/31/2020 0.79404 0.79404 - - - -
12/23/2019 12/24/2019 12/31/2019 0.64752 0.64752 - - - -
12/24/2018 12/26/2018 12/31/2018 0.61283 0.61283 - - - -
12/26/2017 12/27/2017 12/29/2017 0.75830 0.75830 - - - -
12/23/2016 12/28/2016 12/30/2016 0.84750 0.84750 - - - -
12/24/2015 12/29/2015 12/31/2015 1.15150 1.15150 - - - -
12/24/2014 12/29/2014 12/31/2014 0.96300 0.96300 - - - -
12/24/2013 12/27/2013 12/31/2013 0.78700 0.78700 - - - -
12/24/2012 12/27/2012 12/31/2012 0.74700 0.74700 - - - -
12/23/2011 12/28/2011 12/30/2011 0.37500 0.37500 - - - -
12/27/2010 12/29/2010 12/31/2010 0.38800 0.38800 - - - -
12/24/2009 12/29/2009 12/31/2009 0.56300 0.56300 - - - -
12/24/2008 12/29/2008 12/31/2008 0.50000 0.50000 - - - -

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%
03/31/2024 61 19 0 0 0 0 0
12/31/2023 63 6 0 0 0 0 0
09/30/2023 63 21 0 0 0 0 0
06/30/2023 62 18 0 0 0 0 0
Year Ended 2023 250 58 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%
03/31/2024 61 42 0 0 0 0 0
12/31/2023 63 57 0 0 0 0 0
09/30/2023 63 42 0 0 0 0 0
06/30/2023 62 44 0 0 0 0 0
Year Ended 2023 250 192 0 0 0 0 0

Fund Inception : 12/15/2006

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.

Premiums/Discounts

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

Typically, security classifications used in calculating allocation tables are as of the last trading day of the previous month.

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 industrials, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

Stocks of medium-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.
 
The Fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index.

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

The Sabrient Defensive Equity Index is composed of stocks selected from a broad universe of US stocks and American depositary receipts (ADRs), based on their risk-return profiles during periods of stock market weakness and return potential during periods of market strength.

Invesco Defensive Equity Index is designed to provide exposure to securities of large-cap US issuers.  The Index is computed using the gross total return, which reflects dividends paid.

“Bloomberg®” and the indices licensed herein (the “Indices”) are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the Indices (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Invesco Capital Management LLC (the “Licensee”). Bloomberg is not affiliated with the Licensee, and Bloomberg does not approve, endorse, review, or recommend the financial products referenced herein (the “Financial Products”). Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Indices or the Financial Products.