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Invesco S&P 500® High Beta ETF

Ticker: SPHB

Product Details

The Invesco S&P 500® High Beta ETF (Fund) is based on the S&P 500® High Beta Index (Index). The Fund will invest at least 90% of its total assets in the securities that comprise the Index. The Index is compiled, maintained and calculated by Standard & Poor's and consists of the 100 stocks from the S&P 500® Index with the highest sensitivity to market movements, or beta, over the past 12 months. Beta is a measure of relative risk and is the rate of change of a security's price. The Fund and the Index are rebalanced and reconstituted quarterly in February, May, August and November.

as of 10/31/2022

Factor DNATM

Source: Axioma, Inc.

Factor score methodology

Axioma is used to calculate the data that goes into the charts. We use Axioma's global short time horizon risk model.

The current factor exposures of the ETF relative to its benchmark index are shown using the bars in the chart. Each factor's band indicates the +/- one standard deviation exposure of the fund to that factor over the past three years.

The bar color is determined by comparing the number of standard deviations the current exposure is from the average three-year exposure. Higher exposures are a bright color, while lower exposures are a dark color.

See notes below for factor definitions.

Factor definitions

Value: Book to price; Small size: Natural log of the total issuer market capitalization average over the last month. Companies with a smaller market cap receive a higher score; Profitability: considers return-on-equity, return-on-assets, cash-flow-to-assets, cash-flow-to-income, gross margin and sales-to-assets; Momentum: cumulative return over last 20 days; Low Volatility: square root of 60-day average of absolute return / cross sectional market volatility. Lower volatility stocks receive a higher score; Leverage: equal weight average of debt-to-assets and debt-to-equity; Growth: equal weight average of earnings growth rate and the sales growth rate; Dividend Yield: trailing 12-month dividend yield.

as of 10/31/2022

Factor DNATM

Factor score methodology

Axioma is used to calculate the data that goes into the charts. We use Axioma's global short time horizon risk model.

The current factor exposures of the ETF relative to its benchmark index are shown using the bars in the chart. Each factor's band indicates the +/- one standard deviation exposure of the fund to that factor over the past three years.

The bar color is determined by comparing the number of standard deviations the current exposure is from the average three-year exposure. Higher exposures are a bright color, while lower exposures are a dark color.

See notes below for factor definitions.

Factor definitions

Value: Book to price; Small size: Natural log of the total issuer market capitalization average over the last month. Companies with a smaller market cap receive a higher score; Profitability: considers return-on-equity, return-on-assets, cash-flow-to-assets, cash-flow-to-income, gross margin and sales-to-assets; Momentum: cumulative return over last 20 days; Low Volatility: square root of 60-day average of absolute return / cross sectional market volatility. Lower volatility stocks receive a higher score; Leverage: equal weight average of debt-to-assets and debt-to-equity; Growth: equal weight average of earnings growth rate and the sales growth rate; Dividend Yield: trailing 12-month dividend yield.

as of 10/31/2022 09/30/2022

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
S&P 500 High Beta Total Return Index (USD) -20.41 -19.77 16.02 11.28 13.70 10.34
S&P 500 Index -17.70 -14.61 10.22 10.44 12.79 11.90
Fund History (%)
Fund NAV -20.61 -20.00 15.75 11.01 13.39 10.04
After Tax Held -20.76 -20.19 15.16 10.51 12.98 9.68
After Tax Sold -12.19 -11.78 12.16 8.58 11.12 8.24
Fund Market Price -20.75 -19.97 15.78 11.00 13.40 10.05
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
S&P 500 High Beta Total Return Index (USD) -26.86 -20.79 13.72 9.79 12.59 9.60
S&P 500 Index -23.87 -15.47 8.16 9.24 11.70 11.23
Fund History (%)
Fund NAV -27.03 -21.02 13.44 9.52 12.29 9.31
After Tax Held -27.18 -21.22 12.87 9.02 11.88 8.94
After Tax Sold -15.98 -12.38 10.34 7.38 10.15 7.60
Fund Market Price -26.95 -20.98 13.51 9.59 12.31 9.34

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.

Please keep in mind that high, double-digit and/or triple-digit returns are highly unusual and cannot be sustained.

as of 09/30/2022

Growth of $10,000

Data beginning Fund inception and ending 09/30/2022. 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 11/30/2022

Sector Allocation

Sector Percent of Fund
Information Technology 41.75%
Consumer Discretionary 24.44%
Financials 10.62%
Industrials 7.22%
Communication Services 6.97%
Health Care 6.40%
Materials 1.70%
Consumer Staples 0.87%
Investment Companies 0.03%
as of 11/29/2022

Market Cap & Style Allocations

Large-Cap Value 6.43%
Large-Cap Blend 13.28%
Large-Cap Growth 21.85%
Mid-Cap Value 17.86%
Mid-Cap Blend 20.54%
Mid-Cap Growth 19.03%
Small-Cap Value 1.02%
Small-Cap Blend -
Small-Cap Growth -

as of 11/30/2022 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
ETSY Etsy Inc 1.68
NVDA NVIDIA Corp 1.62
AMD Advanced Micro Devices Inc 1.59
CZR Caesars Entertainment Inc 1.48
CCL Carnival Corp 1.38
ON ON Semiconductor Corp 1.36
NCLH Norwegian Cruise Line Holdings Ltd 1.29
MPWR Monolithic Power Systems Inc 1.28
CDAY Ceridian HCM Holding Inc 1.26
RCL Royal Caribbean Cruises Ltd 1.25
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
09/19/2022 09/20/2022 09/23/2022 0.07123 0.07123 - - - -
06/21/2022 06/22/2022 06/30/2022 0.09907 0.09907 - - - -
03/21/2022 03/22/2022 03/31/2022 0.16685 0.16685 - - - -
12/20/2021 12/21/2021 12/31/2021 0.15811 0.15811 - - - -
09/20/2021 09/21/2021 09/30/2021 0.19447 0.19447 - - - -
06/21/2021 06/22/2021 06/30/2021 0.22391 0.22391 - - - -
03/22/2021 03/23/2021 03/31/2021 0.14593 0.14593 - - - -
12/21/2020 12/22/2020 12/31/2020 0.24505 0.24505 - - - -
09/21/2020 09/22/2020 09/30/2020 0.20009 0.20009 - - - -
06/22/2020 06/23/2020 06/30/2020 0.17379 0.17379 - - - -
03/23/2020 03/24/2020 03/31/2020 0.46091 0.46091 - - - -
12/23/2019 12/24/2019 12/31/2019 0.17758 0.17758 - - - -
09/23/2019 09/24/2019 09/30/2019 0.14049 0.14049 - - - -
06/24/2019 06/25/2019 06/28/2019 0.22237 0.22237 - - - -
03/18/2019 03/19/2019 03/29/2019 0.04585 0.04585 - - - -
12/24/2018 12/26/2018 12/31/2018 0.16970 0.16970 - - - -
09/24/2018 09/25/2018 09/28/2018 0.13799 0.13799 - - - -
06/18/2018 06/19/2018 06/29/2018 0.26945 0.26945 - - - -
03/19/2018 03/20/2018 03/29/2018 0.11628 0.11628 - - - -
12/18/2017 12/19/2017 12/29/2017 0.14285 0.14285 - - - -
09/18/2017 09/19/2017 09/29/2017 0.14466 0.14466 - - - -
06/16/2017 06/20/2017 06/30/2017 0.23434 0.23434 - - - -
03/17/2017 03/21/2017 03/31/2017 0.04619 0.04619 - - - -
12/16/2016 12/20/2016 12/30/2016 0.19256 0.19256 - - - -
09/16/2016 09/20/2016 09/30/2016 0.05366 0.05366 - - - -
06/17/2016 06/21/2016 06/30/2016 0.07323 0.07323 - - - -
03/18/2016 03/22/2016 03/31/2016 0.02162 0.02162 - - - -
12/18/2015 12/22/2015 12/31/2015 0.16817 0.16817 - - - -
09/18/2015 09/22/2015 09/30/2015 0.13493 0.13493 - - - -
06/19/2015 06/23/2015 06/30/2015 0.14589 0.14589 - - - -
03/20/2015 03/24/2015 03/31/2015 0.04553 0.04553 - - - -
12/19/2014 12/23/2014 12/31/2014 0.12209 0.12209 - - - -
09/19/2014 09/23/2014 09/30/2014 0.02867 0.02867 - - - -
06/20/2014 06/24/2014 06/30/2014 0.07376 0.07376 - - - -
03/21/2014 03/25/2014 03/31/2014 0.11145 0.11145 - - - -
12/20/2013 12/24/2013 12/31/2013 0.08979 0.08979 - - - -
09/20/2013 09/24/2013 09/30/2013 0.04609 0.04609 - - - -
06/21/2013 06/25/2013 06/28/2013 0.04390 0.04390 - - - -
03/15/2013 03/19/2013 03/28/2013 0.03125 0.03125 - - - -
12/21/2012 12/26/2012 12/31/2012 0.09237 0.09237 - - - -
09/21/2012 09/25/2012 09/28/2012 0.01691 0.01691 - - - -
06/15/2012 06/19/2012 06/29/2012 0.05209 0.05209 - - - -
03/16/2012 03/20/2012 03/30/2012 0.03235 0.03235 - - - -
12/16/2011 12/20/2011 12/30/2011 0.04123 0.04123 - - - -
09/16/2011 09/20/2011 09/30/2011 0.05826 0.05826 - - - -
06/17/2011 06/21/2011 06/30/2011 0.03208 0.03208 - - - -

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%
09/30/2022 64 27 6 1 0 0 0
06/30/2022 62 30 3 0 0 0 0
03/31/2022 62 30 5 0 0 0 0
12/31/2021 64 33 1 1 0 0 0
Year Ended 2021 252 127 11 1 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%
09/30/2022 64 26 4 0 0 0 0
06/30/2022 62 19 10 0 0 0 0
03/31/2022 62 21 6 0 0 0 0
12/31/2021 64 26 3 0 0 0 0
Year Ended 2021 252 102 11 0 0 0 0

Fund Inception : 05/05/2011

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.

Premiums/Discounts

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.

 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.

Beta investing entails investing in securities that are more volatile based on historical market index data.

The Fund may become “non-diversified”, as defined under the Investment Company Act of 1940, as amended, solely as a result of a change in relative market capitalization or index weighting of one or more constitutes of the Index. Shareholder approval will not be sought when the Fund crosses from diversified to non-diversified status under such circumstances.

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.

S&P® is a registered trademark of Standard & Poor's Financial Services LLC (S&P) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones). These trademarks have been licensed for use by S&P Dow Jones Indices LLC. S&P® and Standard & Poor's® are trademarks of S&P and Dow Jones® is a trademark of Dow Jones. These trademarks have been sublicensed for certain purposes by Invesco Capital Management LLC. The Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Invesco. The Fund is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates make any representation regarding the advisability of investing in such product(s).

© 2021 Axioma, Inc. All Rights Reserved. The information, data, analyses and opinions (“Information”) contained herein: (1) include the proprietary information of Axioma; (2) may not be copied or redistributed except as specifically authorized; (3) do not constitute financial, investment, or legal advice; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. Axioma is not responsible for any trading decisions, damages or other losses related to the Information or its use. Information should be verified before use and should not be acted upon without first obtaining specific legal, tax, and investment advice from a licensed professional. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

Beta is a measure of risk representing how a security is expected to respond to general market movements.