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Invesco S&P 500® Pure Value ETF

Product Details

The Invesco S&P 500® Pure Value ETF (Fund) is based on the S&P 500® Pure Value Index (Index). The Fund will invest at least 90% of its total assets in securities that comprise the Index. The Index measures the performance of securities that exhibit strong value characteristics in the S&P 500® Index. First, each security in the S&P 500 is assigned two “style scores” – one for value and one for growth – based on the characteristics of the issuer. The “value score” is measured using three factors: book-value-to-price ratio, earnings-to-price ratio, and sales-to-price ratio. The “growth score” is measured using three other factors: three-year sales per share growth, the three-year ratio of earnings per share change to price per share, and momentum (the 12-month percentage change in price). The ratio between the growth score and the value score is used to rank each stock as either deep value, blend or deep growth. Only the deep value stocks are selected and are factor weighted such that securities demonstrating the strongest value characteristics receive proportionally greater weights. The Fund and the Index are rebalanced annually.

as of 12/31/2020

Factor DNATM

Factor score methodology

Factor scores are calculated for every stock within the starting universe, Russell 3000 Index and Russell Global ex-US Index. Factor scores are normalized using z-scores with a mean of zero and a standard deviation of one. A normalized score is then calculated for both the fund and index shown based on the weighted average normalized scores of their underlying stocks. The Factor DNATM chart plots the difference in the fund's normalized score for each factor, in standard deviations, relative to the index shown with a range of -1.5 to 1.5. The index shown serves as the baseline and is plotted at zero.

See notes below for factor definitions.

Try the Factor eXposure Tool
Factor definitions

Low volatility – Annualized 252-day standard deviation of the stock’s price. Lower standard deviations receive a higher factor exposure score. Dividend yield – Total dividends paid by the stock over the past 12 months divided by its current price. Quality – Each fundamental ratio is standardized using a z-score relative to its universe before averaging (return on equity - accruals ratio - debt to common equity) / three. Value – Each fundamental ratio is standardized using a z-score relative to its universe before averaging (earnings/price + book value/price + sales/price) / three. Momentum – 12-month return excluding the most recent month. The return is risk adjusted using the standard deviation of daily price returns over the past year. Size – Stock's market capitalization in USD. Lower market capitalization companies receive a higher factor exposure score.

as of 12/31/2020

Factor DNATM

Factor score methodology

Factor scores are calculated for every stock within the starting universe, Russell 3000 Index and Russell Global ex-US Index. Factor scores are normalized using z-scores with a mean of zero and a standard deviation of one. A normalized score is then calculated for both the fund and index shown based on the weighted average normalized scores of their underlying stocks. The Factor DNATM chart plots the difference in the fund's normalized score for each factor, in standard deviations, relative to the index shown with a range of -1.5 to 1.5. The index shown serves as the baseline and is plotted at zero.

See notes below for factor definitions.

Try the Factor eXposure Tool
Factor definitions

Low volatility – Annualized 252-day standard deviation of the stock’s price. Lower standard deviations receive a higher factor exposure score. Dividend yield – Total dividends paid by the stock over the past 12 months divided by its current price. Quality – Each fundamental ratio is standardized using a z-score relative to its universe before averaging (return on equity - accruals ratio - debt to common equity) / three. Value – Each fundamental ratio is standardized using a z-score relative to its universe before averaging (earnings/price + book value/price + sales/price) / three. Momentum – 12-month return excluding the most recent month. The return is risk adjusted using the standard deviation of daily price returns over the past year. Size – Stock's market capitalization in USD. Lower market capitalization companies receive a higher factor exposure score.

as of 12/31/2020 12/31/2020

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
S&P 500 Pure Value Index -8.71 -8.71 0.26 7.25 10.49 7.67
S&P 500 Value Index 1.36 1.36 6.78 10.52 10.74 7.08
Fund History (%)
Fund NAV -8.70 -8.70 0.04 6.94 10.12 7.26
After Tax Held -9.80 -9.80 -0.73 6.10 9.32 6.43
After Tax Sold -5.35 -5.35 -0.18 5.10 7.95 5.56
Fund Market Price -8.60 -8.60 0.01 6.96 10.11 7.26
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
S&P 500 Pure Value Index -8.71 -8.71 0.26 7.25 10.49 7.67
S&P 500 Value Index 1.36 1.36 6.78 10.52 10.74 7.08
Fund History (%)
Fund NAV -8.70 -8.70 0.04 6.94 10.12 7.26
After Tax Held -9.80 -9.80 -0.73 6.10 9.32 6.43
After Tax Sold -5.35 -5.35 -0.18 5.10 7.95 5.56
Fund Market Price -8.60 -8.60 0.01 6.96 10.11 7.26

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 09/30/2020

Growth of $10,000

Data beginning 10 years prior to the ending date of 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.

as of 01/15/2021

Sector Allocation

Sector Percent of Fund
Financials 41.48%
Health Care 10.21%
Energy 9.32%
Consumer Discretionary 8.46%
Consumer Staples 8.19%
Communication Services 6.00%
Information Technology 5.09%
Materials 3.38%
Industrials 3.24%
Utilities 2.90%
Real Estate 1.69%
Investment Companies 0.06%
as of 01/15/2021

Market Cap & Style Allocations

Large-Cap Value 25.64%
Large-Cap Blend 2.98%
Large-Cap Growth -
Mid-Cap Value 58.47%
Mid-Cap Blend 2.57%
Mid-Cap Growth 0.52%
Small-Cap Value 9.24%
Small-Cap Blend 0.57%
Small-Cap Growth -

as of 01/15/2021 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
UNM Unum Group 2.20
BRK/B Berkshire Hathaway Inc 2.11
LUMN CenturyLink Inc 1.86
LNC Lincoln National Corp 1.72
HFC HollyFrontier Corp 1.71
MET MetLife Inc 1.70
PRU Prudential Financial Inc 1.68
CVS CVS Health Corp 1.65
F Ford Motor Co 1.60
WBA Walgreens Boots Alliance Inc 1.52
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 | HideView All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital Liquidation Distribution
12/21/2020 12/22/2020 12/31/2020 0.22238 0.22238 - - - -
09/21/2020 09/22/2020 09/30/2020 0.29885 0.29885 - - - -
06/22/2020 06/23/2020 06/30/2020 0.31718 0.31718 - - - -
03/23/2020 03/24/2020 03/31/2020 0.45840 0.45840 - - - -
12/23/2019 12/24/2019 12/31/2019 0.37413 0.37413 - - - -
09/23/2019 09/24/2019 09/30/2019 0.41515 0.41515 - - - -
06/24/2019 06/25/2019 06/28/2019 0.40411 0.40411 - - - -
03/18/2019 03/19/2019 03/29/2019 0.38548 0.38548 - - - -
12/24/2018 12/26/2018 12/31/2018 0.39006 0.39006 - - - -
09/24/2018 09/25/2018 09/28/2018 0.38248 0.38248 - - - -
06/15/2018 06/18/2018 06/29/2018 0.31451 0.31451 - - - -
03/16/2018 03/16/2018 03/29/2018 0.32690 0.32690 - - - -
12/15/2017 12/18/2017 12/29/2017 0.24420 0.24420 - - - -
09/15/2017 09/15/2017 09/29/2017 0.30240 0.30240 - - - -
06/16/2017 06/16/2017 06/30/2017 0.29390 0.29390 - - - -
03/17/2017 03/17/2017 03/31/2017 0.30760 0.30760 - - - -
12/16/2016 12/16/2016 12/30/2016 0.15662 0.15662 - - - -
09/16/2016 09/16/2016 09/30/2016 0.26489 0.26489 - - - -
06/17/2016 06/21/2016 06/30/2016 0.23828 0.23828 - - - -
03/18/2016 03/22/2016 03/31/2016 0.33828 0.33828 - - - -
12/18/2015 12/22/2015 12/31/2015 0.26213 0.26213 - - - -
09/18/2015 09/22/2015 09/30/2015 0.27682 0.27682 - - - -
06/19/2015 06/23/2015 06/30/2015 0.29475 0.29475 - - - -
03/20/2015 03/24/2015 03/31/2015 0.34152 0.34152 - - - -
12/19/2014 12/23/2014 12/31/2014 0.19822 0.19822 - - - -
09/19/2014 09/23/2014 09/30/2014 0.22668 0.22668 - - - -
06/20/2014 06/24/2014 06/30/2014 0.20589 0.20589 - - - -
03/21/2014 03/25/2014 03/31/2014 0.23000 0.23000 - - - -
12/20/2013 12/24/2013 12/31/2013 0.10756 0.10756 - - - -
09/20/2013 09/24/2013 09/30/2013 0.15034 0.15034 - - - -
06/21/2013 06/25/2013 06/28/2013 0.17603 0.17603 - - - -
03/15/2013 03/19/2013 03/28/2013 0.12783 0.12783 - - - -
12/21/2012 12/26/2012 12/31/2012 0.14590 0.14590 - - - -
09/21/2012 09/25/2012 09/28/2012 0.13106 0.13106 - - - -
06/15/2012 06/19/2012 06/29/2012 0.12280 0.12280 - - - -
03/16/2012 03/20/2012 03/30/2012 0.10816 0.10816 - - - -
12/16/2011 12/20/2011 12/30/2011 0.13160 0.13160 - - - -
09/16/2011 09/20/2011 09/30/2011 0.12380 0.12380 - - - -
06/17/2011 06/21/2011 06/30/2011 0.08821 0.08821 - - - -
03/18/2011 03/22/2011 03/31/2011 0.11032 0.11032 - - - -
12/17/2010 12/21/2010 12/31/2010 0.06308 0.06308 - - - -
09/17/2010 09/21/2010 09/30/2010 0.09330 0.09330 - - - -
06/18/2010 06/22/2010 06/30/2010 0.09124 0.09124 - - - -
03/19/2010 03/23/2010 03/31/2010 0.09754 0.09754 - - - -
12/18/2009 12/22/2009 12/31/2009 0.07236 0.07236 - - - -
09/18/2009 09/22/2009 09/30/2009 0.09256 0.09256 - - - -
06/19/2009 06/23/2009 06/30/2009 0.11077 0.11077 - - - -
03/20/2009 03/24/2009 03/31/2009 0.16340 0.16340 - - - -
12/19/2008 12/23/2008 12/31/2008 0.17699 0.17699 - - - -
09/19/2008 09/23/2008 09/30/2008 0.20641 0.20641 - - - -
06/20/2008 06/24/2008 06/30/2008 0.25629 0.25629 - - - -
03/20/2008 03/25/2008 03/31/2008 0.25718 0.25718 - - - -

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 32 4 0 0 0 0
09/30/2020 64 31 0 0 0 0 0
06/30/2020 63 24 9 0 0 0 0
03/31/2020 62 22 2 0 0 0 0
Year Ended 2020 253 109 15 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%
12/31/2020 64 25 3 0 0 0 0
09/30/2020 64 31 2 0 0 0 0
06/30/2020 63 23 7 0 0 0 0
03/31/2020 62 33 4 0 1 0 0
Year Ended 2020 253 112 16 0 1 0 0

Fund Inception : 03/01/2006

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 financials, 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.

A value style of investing is subject to the risk that the valuations never improve or that the returns will trail other styles of investing or the overall stock markets.

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 S&P 500® Value Index is an unmanaged index considered representative of large-cap value stocks.

"Standard&Poor's®", "S&P®," "S&P 500®," "Standard & Poor's 500," "S&P 500 Pure Value" and "S&P 500 Value" are trademarks of Standard & Poor's Financial Services LLC, and have been licensed for use by Invesco Capital Management LLC and its affiliates. The products are not sponsored, endorsed, sold or promoted by Standard & Poor's, and Standard & Poor's makes no representation regarding the advisability of investing in the products.