Fixed Income | US Fixed Income

Invesco Short Term Treasury ETF

Ticker: TBLL
How to invest How to invest

Product Details

The Invesco Short Term Treasury ETF (Fund) is based on the ICE U.S. Treasury Short Bond Index (Index). The Fund will invest at least 80% of its total assets in the components of the Index. The Index measures the performance of US Treasury Obligations with a maximum remaining term to maturity of 12 months. The Fund is not a money market fund and does not attempt to maintain a stable net asset value (NAV). 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 and reconstituted monthly.

Effective after the close of markets on Aug. 25, 2023, the Fund’s name and ticker changed from Invesco Treasury Collateral ETF (ticker: CLTL) to Invesco Short Term Treasury ETF (ticker: TBLL). No other changes were made to the Fund. See the prospectus for more information.

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

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
ICE U.S. Treasury Short Bond Index 1.22 5.14 2.43 2.02 N/A 1.86
Fund History (%)
Fund NAV 1.18 5.02 2.39 1.97 N/A 1.80
After Tax Held 0.65 2.93 1.38 1.16 N/A 1.05
After Tax Sold 0.70 2.95 1.40 1.16 N/A 1.05
Fund Market Price 1.18 5.02 2.39 1.97 N/A 1.80
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
ICE U.S. Treasury Short Bond Index 1.22 5.14 2.43 2.02 N/A 1.86
Fund History (%)
Fund NAV 1.18 5.02 2.39 1.97 N/A 1.80
After Tax Held 0.65 2.93 1.38 1.16 N/A 1.05
After Tax Sold 0.70 2.95 1.40 1.16 N/A 1.05
Fund Market Price 1.18 5.02 2.39 1.97 N/A 1.80

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 03/31/2024

Growth of $10,000

Data beginning Fund inception and ending 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.

Quality Allocations as of 04/15/2024

S&P Moody's
AAA : 0% Aaa : 100%
AA : 100% Aa : 0%
as of 04/15/2024

Maturity

Years % of Fund
0 - 1 years 100.00
1 - 5 years 0.00
5 - 10 years 0.00
10 - 15 years 0.00
15 - 20 years 0.00
20 - 25 years 0.00
25 years and over 0.00

as of 04/15/2024 Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
United States Treasury Bill 0.00% 05/16/2024 N/A AA+u/Aaa 2.75%
United States Treasury Bill 0.00% 06/13/2024 N/A AA+u/Aaa 2.49%
United States Treasury Bill 0.00% 07/23/2024 N/A AA+u/Aaa 2.19%
United States Treasury Bill 0.00% 07/09/2024 N/A AA+u/Aaa 2.12%
United States Treasury Bill 0.00% 07/16/2024 N/A AA+u/Aaa 2.12%
United States Treasury Bill 0.00% 07/30/2024 N/A AA+u/Aaa 2.12%
United States Treasury Bill 0.00% 09/19/2024 N/A AA+u/Aaa 2.10%
United States Treasury Note/Bond 1.88% 08/31/2024 N/A AA+u/Aaa 2.07%
United States Treasury Bill 0.00% 07/05/2024 N/A AA+u/Aaa 2.00%
United States Treasury Bill 0.00% 08/08/2024 N/A AA+u/Aaa 1.98%

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

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
03/18/2024 03/19/2024 03/22/2024 0.43903 0.43903 - - - -
02/20/2024 02/21/2024 02/23/2024 0.46277 0.46277 - - - -
01/22/2024 01/23/2024 01/26/2024 0.45463 0.45463 - - - -
12/18/2023 12/19/2023 12/22/2023 0.49335 0.49335 - - - -
11/20/2023 11/21/2023 11/24/2023 0.46968 0.46968 - - - -
10/23/2023 10/24/2023 10/27/2023 0.45024 0.45024 - - - -
09/18/2023 09/19/2023 09/22/2023 0.43091 0.43091 - - - -
08/21/2023 08/22/2023 08/25/2023 0.44227 0.44227 - - - -
07/24/2023 07/25/2023 07/28/0203 0.43378 0.43378 - - - -
06/20/2023 06/21/2023 06/23/2023 0.38583 0.38583 - - - -
05/22/2023 05/23/2023 05/26/2023 0.39652 0.39652 - - - -
04/24/2023 04/25/2023 04/28/2023 0.37429 0.37429 - - - -
03/20/2023 03/21/2023 03/24/2023 0.37184 0.37184 - - - -
02/21/2023 02/22/2023 02/24/2023 0.31650 0.31650 - - - -
01/23/2023 01/24/2023 01/27/2023 0.32478 0.32478 - - - -
12/19/2022 12/20/2022 12/23/2022 0.39383 0.39383 - - - -
11/21/2022 11/22/2022 11/25/2022 0.26120 0.26120 - - - -
10/24/2022 10/25/2022 10/28/2022 0.23112 0.23112 - - - -
09/19/2022 09/20/2022 09/23/2022 0.21812 0.21812 - - - -
08/22/2022 08/23/2022 08/26/2022 0.12179 0.12179 - - - -
07/18/2022 07/19/2022 07/22/2022 0.14308 0.14308 - - - -
06/21/2022 06/22/2022 06/30/2022 0.03347 0.03347 - - - -
05/23/2022 05/24/2022 05/31/2022 0.02392 0.02392 - - - -
04/18/2022 04/19/2022 04/29/2022 0.01408 0.01408 - - - -
03/21/2022 03/22/2022 03/31/2022 0.00551 0.00551 - - - -
02/22/2022 02/23/2022 02/28/2022 0.00085 0.00085 - - - -
12/20/2021 12/21/2021 12/31/2021 0.01791 0.00000 0.01791 - - -
05/24/2021 05/25/2021 05/28/2021 0.00064 0.00064 - - - -
04/19/2021 04/20/2021 04/30/2021 0.00075 0.00075 - - - -
03/22/2021 03/23/2021 03/31/2021 0.00168 0.00168 - - - -
02/22/2021 02/23/2021 02/26/2021 0.00638 0.00638 - - - -
01/19/2021 01/20/2021 01/29/2021 0.00766 0.00766 - - - -
12/21/2020 12/22/2020 12/31/2020 0.04957 0.00620 0.04337 - - -
11/23/2020 11/24/2020 11/30/2020 0.01216 0.01216 - - - -
10/19/2020 10/20/2020 10/30/2020 0.02549 0.02549 - - - -
09/21/2020 09/22/2020 09/30/2020 0.02595 0.02595 - - - -
08/24/2020 08/25/2020 08/31/2020 0.01160 0.01160 - - - -
07/20/2020 07/21/2020 07/31/2020 0.03910 0.03910 - - - -
06/22/2020 06/23/2020 06/30/2020 0.05030 0.05030 - - - -
05/18/2020 05/19/2020 05/29/2020 0.07904 0.07904 - - - -
04/20/2020 04/21/2020 04/30/2020 0.11229 0.11229 - - - -
03/23/2020 03/24/2020 03/31/2020 0.13659 0.13659 - - - -
02/24/2020 02/25/2020 02/28/2020 0.14359 0.14359 - - - -
01/21/2020 01/22/2020 01/31/2020 0.15971 0.15971 - - - -
12/23/2019 12/24/2019 12/31/2019 0.18113 0.16601 0.01473 0.00039 - -
11/18/2019 11/19/2019 11/29/2019 0.17338 0.17338 - - - -
10/21/2019 10/22/2019 10/31/2019 0.18772 0.18772 - - - -
09/23/2019 09/24/2019 09/30/2019 0.18642 0.18642 - - - -
08/19/2019 08/20/2019 08/30/2019 0.18630 0.18630 - - - -
07/22/2019 07/23/2019 07/31/2019 0.21046 0.21046 - - - -
06/24/2019 06/25/2019 06/28/2019 0.20669 0.20669 - - - -
05/20/2019 05/21/2019 05/31/2019 0.22046 0.22046 - - - -
04/22/2019 04/23/2019 04/30/2019 0.20555 0.20555 - - - -
03/18/2019 03/19/2019 03/29/2019 0.21137 0.21137 - - - -
02/19/2019 02/20/2019 02/28/2019 0.19354 - - - - -
01/22/2019 01/23/2019 01/31/2019 0.20431 0.20431 - - - -
12/24/2018 12/26/2018 12/31/2018 0.28193 0.28193 - - - -
11/19/2018 11/20/2018 11/30/2018 0.16881 0.16881 - - - -
10/22/2018 10/23/2018 10/31/2018 0.15604 0.15604 - - - -
09/24/2018 09/25/2018 09/28/2018 0.18755 0.18755 - - - -
08/20/2018 08/21/2018 08/31/2018 0.98701 0.98701 - - - -
12/18/2017 12/19/2017 12/29/2017 0.74684 0.74684 - - - -

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 61 0 0 0 0 0
12/31/2023 63 63 0 0 0 0 0
09/30/2023 63 63 0 0 0 0 0
06/30/2023 62 62 0 0 0 0 0
Year Ended 2023 250 250 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 0 0 0 0 0 0
12/31/2023 63 0 0 0 0 0 0
09/30/2023 63 0 0 0 0 0 0
06/30/2023 62 0 0 0 0 0 0
Year Ended 2023 250 0 0 0 0 0 0

Fund Inception : 01/12/2017

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

† 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.

Treasury securities are backed by the full faith and credit of the US government as to the timely payment of principal and interest. Although the Fund may hold securities that carry U.S. Government guarantees, these guarantees do not extend to Shares of the Fund.

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

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.

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 is not a money market fund and does not attempt to maintain a stable net asset value ("NAV").

During periods of reduced market volatility or in the absence of readily available market quotations for the holdings of the Fund, the ability of the Fund to value its holdings becomes more difficult and the judgment of the Sub-Adviser may play a greater role in the valuation of the Fund's holdings due to reduced availability of reliable objective pricing data.

ICE Data Indices, LLC, is used with permission. ICE U.S. Treasury Short Bond IndexTM (“Index”) is a service/trade mark of ICE Data Indices, LLC or its affiliates and has been licensed for use by Invesco Capital Management LLC, in connection with the Invesco Treasury Collateral ETF (the “Product”). Neither Invesco Capital Management LLC, Invesco Exchange-Traded Fund Trust II nor the Product, as applicable, is sponsored, endorsed, sold or promoted by ICE Data Indices, LLC, its affiliates or its Third Party Suppliers (“ICE Data and its Suppliers”). ICE Data and its Suppliers make no representations or warranties regarding the advisability of investing in securities generally, in the Product particularly, the Trust or the ability of the Index to track general market performance. Past performance of an Index is not an indicator of or a guarantee of future results.

ICE DATA AND ITS SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY INFORMATION INCLUDED IN, RELATED TO, OR DERIVED THEREFROM (“INDEX DATA”). ICE DATA AND ITS SUPPLIERS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES AND THE INDEX DATA, WHICH ARE PROVIDED ON AN “AS IS” BASIS AND YOUR USE IS AT YOUR OWN RISK.

NAIC Disclosure

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 Designation 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 (RTAS). A full discussion of such other regulatory factors is set forth in the RTAS Letter provided to Invesco. 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. 

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 Investment Analysis 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.