Product Details
The Invesco CEF Income Composite ETF (Fund) is based on the S-Network Composite Closed-End Fund IndexSM (Index). The Fund will normally invest at least 90% of its total assets in securities of funds included in the Index. The Fund is a "fund-of-funds," as it invests its assets in the common shares of funds included in the Index rather than in individual securities. The Index currently includes closed-end funds that invest in taxable investment grade fixed-income securities, taxable high yield fixed-income securities and others that utilize an equity option writing (selling) strategy. The Fund and the Index are rebalanced and reconstituted quarterly
Morningstar Rating ™
Overall Rating - Allocation--15% to 30% Equity CategoryAs of 12/31/2020 the Fund had an overall rating of 4 stars out of 166 funds and was rated 2 stars out of 166 funds, 5 stars out of 147 funds and 4 stars out of 92 funds for the 3-, 5- and 10- year periods, respectively.
Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2020 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.
Performance
Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
---|---|---|---|---|---|---|
S-Network Composite Closed-End Fund Index | 4.77 | 4.77 | 6.09 | 9.44 | 7.30 | 7.53 |
S&P 500 Index | 18.40 | 18.40 | 14.18 | 15.22 | 13.88 | 14.21 |
Fund History (%) | ||||||
Fund NAV | 4.66 | 4.66 | 5.79 | 9.05 | 6.84 | 7.08 |
After Tax Held | 1.12 | 1.12 | 2.64 | 6.18 | 4.12 | 4.38 |
After Tax Sold | 2.46 | 2.46 | 3.06 | 5.76 | 4.13 | 4.35 |
Fund Market Price | 4.74 | 4.74 | 5.77 | 9.04 | 6.82 | 7.06 |
Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
---|---|---|---|---|---|---|
S-Network Composite Closed-End Fund Index | 4.77 | 4.77 | 6.09 | 9.44 | 7.30 | 7.53 |
S&P 500 Index | 18.40 | 18.40 | 14.18 | 15.22 | 13.88 | 14.21 |
Fund History (%) | ||||||
Fund NAV | 4.66 | 4.66 | 5.79 | 9.05 | 6.84 | 7.08 |
After Tax Held | 1.12 | 1.12 | 2.64 | 6.18 | 4.12 | 4.38 |
After Tax Sold | 2.46 | 2.46 | 3.06 | 5.76 | 4.13 | 4.35 |
Fund Market Price | 4.74 | 4.74 | 5.77 | 9.04 | 6.82 | 7.06 |
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.
Growth of $10,000
Data beginning Fund inception and ending 09/30/2020. 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 01/20/2021
S&P | Moody's |
---|---|
Not Rated : 2% | Not Rated : 2% |
as of 01/20/2021 Top Holdings | View All
Fund Holdings subject to change
Ticker | Company | % of Fund |
---|---|---|
EXG | Eaton Vance Tax-Managed Global Diversified Equity Income Fun | 3.92 |
BDJ | BlackRock Enhanced Equity Dividend Trust | 2.61 |
PCI | PIMCO Dynamic Credit and Mortgage Income Fund | 2.56 |
NFJ | AllianzGI Dividend Interest & Premium Strategy Fund | 2.39 |
EVV | Eaton Vance Ltd Duration Income Fund | 2.38 |
ETY | Eaton Vance Tax-Managed Diversified Equity Income Fund | 2.22 |
BXMX | Nuveen S&P 500 Buy-Write Income Fund | 2.14 |
FAX | Aberdeen Asia-Pacific Income Fund Inc | 1.97 |
JPS | Nuveen Preferred & Income Securities Fund | 1.91 |
DSL | DoubleLine Income Solutions Fund | 1.83 |
Investment Categories
Fund | Percentage |
---|---|
Option Income | 37.94% |
Bond | 33.47% |
High Yield Bond | 28.06% |
0.52% |
Distributions | HideView All | Distribution Information
Ex-Date | Record Date | Pay Date | $/ Share |
Ordinary Income | Short Term Gains | Long Term Gains | Return of Capital | Liquidation Distribution |
---|---|---|---|---|---|---|---|---|
01/19/2021 | 01/20/2021 | 01/29/2021 | 0.13903 | 0.13903 | - | - | - | - |
12/21/2020 | 12/22/2020 | 12/31/2020 | 0.13626 | 0.13626 | - | - | - | - |
11/23/2020 | 11/24/2020 | 11/30/2020 | 0.13596 | 0.13596 | - | - | - | - |
10/19/2020 | 10/20/2020 | 10/30/2020 | 0.13302 | 0.13302 | - | - | - | - |
09/21/2020 | 09/22/2020 | 09/30/2020 | 0.13257 | 0.13257 | - | - | - | - |
08/24/2020 | 08/25/2020 | 08/31/2020 | 0.13507 | 0.13507 | - | - | - | - |
07/20/2020 | 07/21/2020 | 07/31/2020 | 0.13857 | 0.13857 | - | - | - | - |
06/22/2020 | 06/23/2020 | 06/30/2020 | 0.14189 | 0.14189 | - | - | - | - |
05/18/2020 | 05/19/2020 | 05/29/2020 | 0.14432 | 0.14432 | - | - | - | - |
04/20/2020 | 04/21/2020 | 04/30/2020 | 0.14652 | 0.14652 | - | - | - | - |
03/23/2020 | 03/24/2020 | 03/31/2020 | 0.14862 | 0.14862 | - | - | - | - |
02/24/2020 | 02/25/2020 | 02/28/2020 | 0.15052 | 0.15052 | - | - | - | - |
01/21/2020 | 01/22/2020 | 01/31/2020 | 0.14823 | 0.14823 | - | - | - | - |
12/23/2019 | 12/24/2019 | 12/31/2019 | 0.14511 | 0.14511 | - | - | - | - |
11/18/2019 | 11/19/2019 | 11/29/2019 | 0.14511 | 0.14511 | - | - | - | - |
10/21/2019 | 10/22/2019 | 10/31/2019 | 0.14391 | 0.14391 | - | - | - | - |
09/23/2019 | 09/24/2019 | 09/30/2019 | 0.14357 | 0.14357 | - | - | - | - |
08/19/2019 | 08/20/2019 | 08/30/2019 | 0.11449 | 0.11449 | - | - | - | - |
07/22/2019 | 07/23/2019 | 07/31/2019 | 0.11965 | 0.11965 | - | - | - | - |
06/24/2019 | 06/25/2019 | 06/28/2019 | 0.12468 | 0.12468 | - | - | - | - |
05/20/2019 | 05/21/2019 | 05/31/2019 | 0.12968 | 0.12968 | - | - | - | - |
04/22/2019 | 04/23/2019 | 04/30/2019 | 0.14945 | 0.14945 | - | - | - | - |
03/18/2019 | 03/19/2019 | 03/29/2019 | 0.15144 | 0.15144 | - | - | - | - |
02/19/2019 | 02/20/2019 | 02/28/2019 | 0.15183 | - | - | - | - | - |
01/22/2019 | 01/23/2019 | 01/31/2019 | 0.14052 | 0.14052 | - | - | - | - |
12/24/2018 | 12/26/2018 | 12/31/2018 | 0.12837 | 0.12837 | - | - | - | - |
11/19/2018 | 11/20/2018 | 11/30/2018 | 0.13845 | 0.13845 | - | - | - | - |
10/22/2018 | 10/23/2018 | 10/31/2018 | 0.14011 | 0.14011 | - | - | - | - |
09/24/2018 | 09/25/2018 | 09/28/2018 | 0.13921 | 0.13921 | - | - | - | - |
08/20/2018 | 08/21/2018 | 08/31/2018 | 0.12295 | 0.12295 | - | - | - | - |
07/23/2018 | 07/24/2018 | 07/31/2018 | 0.13356 | 0.13356 | - | - | - | - |
06/18/2018 | 06/19/2018 | 06/29/2018 | 0.12457 | 0.12457 | - | - | - | - |
05/21/2018 | 05/22/2018 | 05/31/2018 | 0.13989 | 0.13989 | - | - | - | - |
04/23/2018 | 04/24/2018 | 04/30/2018 | 0.14726 | 0.14726 | - | - | - | - |
03/19/2018 | 03/20/2018 | 03/29/2018 | 0.14735 | 0.14735 | - | - | - | - |
02/20/2018 | 02/21/2018 | 02/28/2018 | 0.14824 | 0.14824 | - | - | - | - |
01/22/2018 | 01/23/2018 | 01/31/2018 | 0.15152 | 0.15152 | - | - | - | - |
12/18/2017 | 12/19/2017 | 12/29/2017 | 0.12950 | 0.12950 | - | - | - | - |
11/20/2017 | 11/21/2017 | 11/30/2017 | 0.14218 | 0.14218 | - | - | - | - |
10/23/2017 | 10/24/2017 | 10/31/2017 | 0.12778 | 0.12778 | - | - | - | - |
09/18/2017 | 09/19/2017 | 09/29/2017 | 0.12883 | 0.12883 | - | - | - | - |
08/15/2017 | 08/17/2017 | 08/31/2017 | 0.13000 | 0.13000 | - | - | - | - |
07/14/2017 | 07/18/2017 | 07/31/2017 | 0.13080 | 0.13080 | - | - | - | - |
06/15/2017 | 06/19/2017 | 06/30/2017 | 0.13077 | 0.13077 | - | - | - | - |
05/15/2017 | 05/17/2017 | 05/31/2017 | 0.13478 | 0.13478 | - | - | - | - |
04/13/2017 | 04/18/2017 | 04/28/2017 | 0.15103 | 0.15103 | - | - | - | - |
03/15/2017 | 03/17/2017 | 03/31/2017 | 0.15349 | 0.15349 | - | - | - | - |
02/15/2017 | 02/17/2017 | 02/28/2017 | 0.15421 | 0.15421 | - | - | - | - |
01/13/2017 | 01/18/2017 | 01/31/2017 | 0.15000 | 0.15000 | - | - | - | - |
12/15/2016 | 12/19/2016 | 12/30/2016 | 0.14200 | 0.14200 | - | - | - | - |
11/15/2016 | 11/17/2016 | 11/30/2016 | 0.14200 | 0.14200 | - | - | - | - |
10/14/2016 | 10/18/2016 | 10/31/2016 | 0.12000 | 0.12000 | - | - | - | - |
09/15/2016 | 09/19/2016 | 09/30/2016 | 0.13000 | 0.13000 | - | - | - | - |
08/15/2016 | 08/17/2016 | 08/31/2016 | 0.13000 | 0.13000 | - | - | - | - |
07/15/2016 | 07/19/2016 | 07/29/2016 | 0.14200 | 0.14200 | - | - | - | - |
06/15/2016 | 06/17/2016 | 06/30/2016 | 0.14260 | 0.14260 | - | - | - | - |
05/13/2016 | 05/17/2016 | 05/31/2016 | 0.14412 | 0.14412 | - | - | - | - |
04/15/2016 | 04/19/2016 | 04/29/2016 | 0.15667 | 0.15667 | - | - | - | - |
03/15/2016 | 03/17/2016 | 03/31/2016 | 0.15935 | 0.15935 | - | - | - | - |
02/12/2016 | 02/17/2016 | 02/29/2016 | 0.15916 | 0.15916 | - | - | - | - |
01/15/2016 | 01/20/2016 | 01/29/2016 | 0.16181 | 0.16181 | - | - | - | - |
12/15/2015 | 12/17/2015 | 12/31/2015 | 0.15185 | 0.15185 | - | - | - | - |
11/13/2015 | 11/17/2015 | 11/30/2015 | 0.15451 | 0.15451 | - | - | - | - |
10/15/2015 | 10/19/2015 | 10/30/2015 | 0.16467 | 0.16467 | - | - | - | - |
09/15/2015 | 09/17/2015 | 09/30/2015 | 0.16473 | 0.16473 | - | - | - | - |
08/14/2015 | 08/18/2015 | 08/31/2015 | 0.16373 | 0.16373 | - | - | - | - |
07/15/2015 | 07/17/2015 | 07/31/2015 | 0.16305 | 0.16305 | - | - | - | - |
06/15/2015 | 06/17/2015 | 06/30/2015 | 0.16944 | 0.16944 | - | - | - | - |
05/15/2015 | 05/19/2015 | 05/29/2015 | 0.16371 | 0.16371 | - | - | - | - |
04/15/2015 | 04/17/2015 | 04/30/2015 | 0.16402 | 0.16402 | - | - | - | - |
03/13/2015 | 03/17/2015 | 03/31/2015 | 0.16375 | 0.16375 | - | - | - | - |
02/13/2015 | 02/18/2015 | 02/27/2015 | 0.16478 | 0.16478 | - | - | - | - |
01/15/2015 | 01/20/2015 | 01/30/2015 | 0.17049 | 0.17049 | - | - | - | - |
12/15/2014 | 12/17/2014 | 12/31/2014 | 0.15402 | 0.15402 | - | - | - | - |
11/14/2014 | 11/18/2014 | 11/28/2014 | 0.15211 | 0.15211 | - | - | - | - |
10/15/2014 | 10/17/2014 | 10/31/2014 | 0.15000 | 0.15000 | - | - | - | - |
09/15/2014 | 09/17/2014 | 09/30/2014 | 0.15000 | 0.15000 | - | - | - | - |
08/15/2014 | 08/19/2014 | 08/29/2014 | 0.15061 | 0.15061 | - | - | - | - |
07/15/2014 | 07/17/2014 | 07/31/2014 | 0.15003 | 0.15003 | - | - | - | - |
06/13/2014 | 06/17/2014 | 06/30/2014 | 0.14959 | 0.14959 | - | - | - | - |
05/15/2014 | 05/19/2014 | 05/30/2014 | 0.15088 | 0.15088 | - | - | - | - |
04/15/2014 | 04/17/2014 | 04/30/2014 | 0.17016 | 0.17016 | - | - | - | - |
03/14/2014 | 03/18/2014 | 03/31/2014 | 0.17250 | 0.17250 | - | - | - | - |
02/14/2014 | 02/19/2014 | 02/28/2014 | 0.17250 | 0.17250 | - | - | - | - |
01/15/2014 | 01/17/2014 | 01/31/2014 | 0.17000 | 0.17000 | - | - | - | - |
12/13/2013 | 12/17/2013 | 12/31/2013 | 0.17680 | 0.17680 | - | - | - | - |
11/15/2013 | 11/19/2013 | 11/29/2013 | 0.16675 | 0.16675 | - | - | - | - |
10/15/2013 | 10/17/2013 | 10/31/2013 | 0.16637 | 0.16637 | - | - | - | - |
09/13/2013 | 09/17/2013 | 09/30/2013 | 0.16409 | 0.16409 | - | - | - | - |
08/15/2013 | 08/19/2013 | 08/30/2013 | 0.16256 | 0.16256 | - | - | - | - |
07/15/2013 | 07/17/2013 | 07/31/2013 | 0.16178 | 0.16178 | - | - | - | - |
06/14/2013 | 06/18/2013 | 06/28/2013 | 0.16476 | 0.16476 | - | - | - | - |
05/15/2013 | 05/17/2013 | 05/31/2013 | 0.14550 | 0.14550 | - | - | - | - |
04/15/2013 | 04/17/2013 | 04/30/2013 | 0.16338 | 0.16338 | - | - | - | - |
03/15/2013 | 03/19/2013 | 03/28/2013 | 0.16498 | 0.16498 | - | - | - | - |
02/15/2013 | 02/20/2013 | 02/28/2013 | 0.17386 | 0.17386 | - | - | - | - |
01/15/2013 | 01/17/2013 | 01/31/2013 | 0.16894 | 0.16894 | - | - | - | - |
12/14/2012 | 12/18/2012 | 12/31/2012 | 0.16402 | 0.16402 | - | - | - | - |
11/15/2012 | 11/19/2012 | 11/30/2012 | 0.16482 | 0.16482 | - | - | - | - |
10/15/2012 | 10/17/2012 | 10/31/2012 | 0.14495 | 0.14495 | - | - | - | - |
09/14/2012 | 09/18/2012 | 09/28/2012 | 0.14530 | 0.14530 | - | - | - | - |
08/15/2012 | 08/17/2012 | 08/31/2012 | 0.15010 | 0.15010 | - | - | - | - |
07/13/2012 | 07/17/2012 | 07/31/2012 | 0.15033 | 0.15033 | - | - | - | - |
06/15/2012 | 06/19/2012 | 06/29/2012 | 0.15035 | 0.15035 | - | - | - | - |
05/15/2012 | 05/17/2012 | 05/31/2012 | 0.13444 | 0.13444 | - | - | - | - |
04/13/2012 | 04/17/2012 | 04/30/2012 | 0.16008 | 0.16008 | - | - | - | - |
03/15/2012 | 03/19/2012 | 03/30/2012 | 0.16538 | 0.16538 | - | - | - | - |
02/15/2012 | 02/17/2012 | 02/29/2012 | 0.16552 | 0.16552 | - | - | - | - |
01/13/2012 | 01/18/2012 | 01/31/2012 | 0.16326 | 0.16326 | - | - | - | - |
12/27/2011 | 12/29/2011 | 12/30/2011 | 0.07996 | 0.06576 | - | 0.01420 | - | - |
12/15/2011 | 12/19/2011 | 12/30/2011 | 0.30249 | 0.30249 | - | - | - | - |
11/15/2011 | 11/17/2011 | 11/30/2011 | 0.14100 | 0.14100 | - | - | - | - |
10/14/2011 | 10/18/2011 | 10/31/2011 | 0.14488 | 0.14488 | - | - | - | - |
09/15/2011 | 09/19/2011 | 09/30/2011 | 0.14419 | 0.14419 | - | - | - | - |
08/15/2011 | 08/17/2011 | 08/31/2011 | 0.14600 | 0.14600 | - | - | - | - |
07/15/2011 | 07/19/2011 | 07/29/2011 | 0.14245 | 0.14245 | - | - | - | - |
06/15/2011 | 06/17/2011 | 06/30/2011 | 0.15120 | 0.15120 | - | - | - | - |
05/13/2011 | 05/17/2011 | 05/31/2011 | 0.15204 | 0.15204 | - | - | - | - |
04/15/2011 | 04/19/2011 | 04/29/2011 | 0.16726 | 0.16726 | - | - | - | - |
03/15/2011 | 03/17/2011 | 03/31/2011 | 0.16562 | 0.16562 | - | - | - | - |
02/15/2011 | 02/17/2011 | 02/28/2011 | 0.16584 | 0.16584 | - | - | - | - |
01/14/2011 | 01/19/2011 | 01/31/2011 | 0.16662 | 0.16662 | - | - | - | - |
12/28/2010 | 12/30/2010 | 12/31/2010 | 0.05892 | 0.05892 | - | - | - | - |
12/15/2010 | 12/17/2010 | 12/31/2010 | 0.22897 | 0.22897 | - | - | - | - |
11/15/2010 | 11/17/2010 | 11/30/2010 | 0.18265 | 0.18265 | - | - | - | - |
10/15/2010 | 10/19/2010 | 10/29/2010 | 0.18411 | 0.18411 | - | - | - | - |
09/15/2010 | 09/17/2010 | 09/30/2010 | 0.18746 | 0.18746 | - | - | - | - |
08/13/2010 | 08/17/2010 | 08/31/2010 | 0.17946 | 0.17946 | - | - | - | - |
07/15/2010 | 07/19/2010 | 07/30/2010 | 0.18087 | 0.18087 | - | - | - | - |
06/15/2010 | 06/17/2010 | 06/30/2010 | 0.17970 | 0.17970 | - | - | - | - |
05/14/2010 | 05/18/2010 | 05/28/2010 | 0.18074 | 0.18074 | - | - | - | - |
04/15/2010 | 04/19/2010 | 04/30/2010 | 0.18000 | 0.18000 | - | - | - | - |
03/15/2010 | 03/17/2010 | 03/31/2010 | 0.18240 | 0.18240 | - | - | - | - |
Distribution Information
Fund distributions
Dividends from net investment income, if any, are declared and paid quarterly. For Funds on a quarterly dividend payment cycle, the dividend ex-date is the next business day following the third Friday of each March, June, September and December, payable the last business day of April, July, October and December respectively.
The fund distributes its net realized capital gains, if any, to shareholders annually.
Distributions in cash may be reinvested automatically in additional whole shares of the fund only if the broker through whom you purchased shares makes such option available. Shareholders of the fund may contact their broker to determine the availability and costs of the service and the details of participation. Brokers may require shareholders to adhere to specific procedures and timetables. If this service is available and used, dividend distributions of both income and realized gains will be automatically reinvested in additional whole shares of the fund purchased in the secondary market.
Taxes on distributions
In general, your distributions are subject to federal income tax when they are paid, whether you take them in cash or reinvest them in the Fund. Dividends paid out of the Fund's income and net short-term gains, if any, are taxable as ordinary income. Distributions of net long-term capital gains, if any, in excess of net short-term capital losses are taxable as long-term capital gains, regardless of how long you have held the Shares. Dividends from net investment income, if any, are declared and paid quarterly. The Fund may also pay a special distribution at the end of the calendar year to comply with federal tax requirements.
Under the provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (the "2003 Tax Act"), long-term capital gains tax rates have generally been reduced for individuals to a maximum of 15% for taxable years beginning before January 1, 2009. In addition, some ordinary dividends declared and paid by the Fund to individual shareholders may qualify for taxation at the lower reduced tax rates applicable to long-term capital gains, provided that holding period and other requirements are met by the Fund and the shareholder.
Distributions in excess of the Fund's current and accumulated earnings and profits are treated as a tax-free return of capital to the extent of your basis in the Shares, and as capital gain thereafter. A distribution will reduce the Fund's net asset value per Share and may be taxable to you as ordinary income or capital gain even though, from an investment standpoint, the distribution may constitute a return of capital.
By law, the Fund must withhold a percentage of your distributions and proceeds if you have not provided a taxpayer identification number or social security number. The backup withholding rate is currently 28%.
Fund distributions
Dividends from net investment income, if any, are declared and paid either annually, quarterly or monthly, depending on the Fund. For funds on an annual dividend payment cycle, the dividend ex-date is the next business day following the third Friday of December, payable the last business day of the year. For funds on a quarterly dividend payment cycle, the dividend ex-date is the next business day following the third Friday of each March, June, September and December, payable the last business day of the month. For funds on a monthly dividend payment cycle, the dividend ex-date is the next business day following the third Friday of each month, payable the last business day of the month.
The fund distributes its net realized capital gains, if any, to shareholders annually.
Distributions in cash may be reinvested automatically in additional whole shares of the fund only if the broker through whom you purchased shares makes such option available. Shareholders of the fund may contact their broker to determine the availability and costs of the service and the details of participation. Brokers may require shareholders to adhere to specific procedures and timetables. If this service is available and used, dividend distributions of both income and realized gains will be automatically reinvested in additional whole shares of the fund purchased in the secondary market.
Taxes on distributions
In general, your distributions are subject to federal income tax when they are paid, whether you take them in cash or reinvest them in the Fund. Dividends paid out of the Fund's income and net short-term gains, if any, are taxable as ordinary income. Distributions of net long-term capital gains, if any, in excess of net short-term capital losses are taxable as long-term capital gains, regardless of how long you have held the Shares. Dividends from net investment income, if any, are declared and paid quarterly. The Fund may also pay a special distribution at the end of the calendar year to comply with federal tax requirements.
Under the provisions of the Jobs and Growth Tax Relief Reconciliation Act of 2003 (the "2003 Tax Act"), long-term capital gains tax rates have generally been reduced for individuals to a maximum of 15% for taxable years beginning before January 1, 2009. In addition, some ordinary dividends declared and paid by the Fund to individual shareholders may qualify for taxation at the lower reduced tax rates applicable to long-term capital gains, provided that holding period and other requirements are met by the Fund and the shareholder.
Distributions in excess of the Fund's current and accumulated earnings and profits are treated as a tax-free return of capital to the extent of your basis in the Shares, and as capital gain thereafter. A distribution will reduce the Fund's net asset value per Share and may be taxable to you as ordinary income or capital gain even though, from an investment standpoint, the distribution may constitute a return of capital.
By law, the Fund must withhold a percentage of your distributions and proceeds if you have not provided a taxpayer identification number or social security number. The backup withholding rate is currently 28%.
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% |
12/31/2020 | 64 | 27 | 2 | 0 | 0 | 0 | 0 |
09/30/2020 | 64 | 30 | 0 | 0 | 0 | 0 | 0 |
06/30/2020 | 63 | 16 | 0 | 0 | 0 | 0 | 0 |
03/31/2020 | 62 | 36 | 2 | 1 | 0 | 1 | 0 |
Year Ended 2020 | 253 | 109 | 4 | 1 | 0 | 1 | 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% |
12/31/2020 | 64 | 34 | 1 | 0 | 0 | 0 | 0 |
09/30/2020 | 64 | 33 | 1 | 0 | 0 | 0 | 0 |
06/30/2020 | 63 | 39 | 8 | 0 | 0 | 0 | 0 |
03/31/2020 | 62 | 20 | 2 | 0 | 0 | 0 | 0 |
Year Ended 2020 | 253 | 126 | 12 | 0 | 0 | 0 | 0 |
Fund Inception : 02/19/2010
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.
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.
Fund Documents
Materials & Resources
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.
Shares of closed-end funds frequently trade at a discount to their net asset value in the secondary market and the net asset value of closed-end fund shares may decrease.
The Fund is subject to the risks of the underlying funds. Market fluctuations may change the target weightings in the underlying funds and certain factors may cause the Fund to withdraw its investments therein at a disadvantageous time.
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.
Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.
The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.
The securities of closed-end investment companies in which the Fund may invest may be leveraged. As a result, the Fund may be indirectly exposed to leverage resulting in higher volatility in the market and the possibility that the Fund's long-term returns on such securities will be diminished.
Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested.
The Fund's investments in futures contracts will cause it to be deemed to be a commodity pool, thereby subjecting the Fund to regulation under the Commodity Exchange Act and Commodity Futures Trading Commission (CFTC) rules. The Adviser is registered as a Commodity Pool Operator (CPO), and the Fund will be operated in accordance with CFTC rules. Registration as a CPO subjects the registrant to additional laws, regulations and enforcement policies, all of which could increase compliance costs and may affect the operations and financial performance of funds whose adviser is required to register as a CPO. Registration as a commodity pool may have negative effects on the ability of the Fund to engage in its planned investment program.
A decision as to whether, when and how to use options involves the exercise of skill and judgment and even a well conceived option transaction may be unsuccessful because of market behavior or unexpected events. The prices of options can be highly volatile and the use of options can lower total returns.
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 risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
Stocks of small and mid-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.
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, be found invalid or used to pay other outstanding obligations. The loan's collateral may be difficult to liquidate, or a majority of the collateral may be illiquid.
S-Network Global Indexes, LLCSM and S-Network Composite Closed-End Fund IndexSM are service marks of S-Network Global Indexes LLC and have been licensed for use by Invesco Capital Management LLC. The Invesco CEF Income Composite ETF is not sponsored, endorsed, sold or promoted by S-Network Global Indexes LLC and S-Network Global Indexes LLC makes no representation regarding the advisability of investing in the Invesco CEF Income Composite ETF. Invesco Capital Management LLC is not affiliated with S-Network Global Indexes LLC.