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Equity | US Equity

Invesco S&P 500® ex-Rate Sensitive Low Volatility ETF

Product Details

The Invesco S&P 500® ex-Rate Sensitive Low Volatility ETF (Fund) is based on the S&P 500® Low Volatility Rate Response Index (Index). The Fund generally will invest at least 90% of its total assets in common stocks that comprise the Index. The Index is composed of the 100 constituents of S&P 500® Index that exhibit both low volatility and low interest rate risk. The Index is designed to include stocks exhibiting low volatility characteristics, after removing stocks that historically have performed poorly in rising interest rate environments. The Fund and Index constituents are rebalanced and reconstitutioned after the close on the third Friday of February, May, August and November. Constituents are weighted relative to the inverse of their volatility, with the least volatile stocks receiving the highest weights.

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 Low Volatility Rate Response Index 2.93 2.93 9.26 12.47 N/A 11.32
S&P 500 Index 18.40 18.40 14.18 15.22 13.88 13.02
Fund History (%)
Fund NAV 2.68 2.68 8.97 12.16 N/A 11.02
After Tax Held 1.89 1.89 8.39 11.63 N/A 10.51
After Tax Sold 1.52 1.52 6.79 9.56 N/A 8.68
Fund Market Price 2.80 2.80 8.88 12.10 N/A 11.00
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
S&P 500 Low Volatility Rate Response Index 2.93 2.93 9.26 12.47 N/A 11.32
S&P 500 Index 18.40 18.40 14.18 15.22 13.88 13.02
Fund History (%)
Fund NAV 2.68 2.68 8.97 12.16 N/A 11.02
After Tax Held 1.89 1.89 8.39 11.63 N/A 10.51
After Tax Sold 1.52 1.52 6.79 9.56 N/A 8.68
Fund Market Price 2.80 2.80 8.88 12.10 N/A 11.00

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 09/30/2020

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.

as of 01/15/2021

Sector Allocation

Sector Percent of Fund
Health Care 28.31%
Industrials 22.83%
Information Technology 11.91%
Consumer Discretionary 9.06%
Consumer Staples 8.07%
Financials 7.95%
Communication Services 7.28%
Materials 3.61%
Real Estate 0.90%
Investment Companies 0.10%
as of 01/14/2021

Market Cap & Style Allocations

Large-Cap Value 15.64%
Large-Cap Blend 33.70%
Large-Cap Growth 9.80%
Mid-Cap Value 6.96%
Mid-Cap Blend 28.14%
Mid-Cap Growth 5.77%
Small-Cap Value -
Small-Cap Blend -
Small-Cap Growth -

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

Fund Holdings subject to change

Ticker Company % of Fund
BMY Bristol-Myers Squibb Co 1.34
JNJ Johnson & Johnson 1.31
ABBV AbbVie Inc 1.21
EA Electronic Arts Inc 1.20
MRK Merck & Co Inc 1.19
EXPD Expeditors International of Washington Inc 1.18
PKI PerkinElmer Inc 1.17
EBAY eBay Inc 1.17
A Agilent Technologies Inc 1.16
KR Kroger Co/The 1.15
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
01/19/2021 01/20/2021 01/29/2021 0.04630 0.04630 - - - -
12/21/2020 12/22/2020 12/31/2020 0.04493 0.04493 - - - -
11/23/2020 11/24/2020 11/30/2020 0.04368 0.04368 - - - -
10/19/2020 10/20/2020 10/30/2020 0.04276 0.04276 - - - -
09/21/2020 09/22/2020 09/30/2020 0.04277 0.04277 - - - -
08/24/2020 08/25/2020 08/31/2020 0.05007 0.05007 - - - -
07/20/2020 07/21/2020 07/31/2020 0.06012 0.06012 - - - -
06/22/2020 06/23/2020 06/30/2020 0.06222 0.06222 - - - -
05/18/2020 05/19/2020 05/29/2020 0.06451 0.06451 - - - -
04/20/2020 04/21/2020 04/30/2020 0.06673 0.06673 - - - -
03/23/2020 03/24/2020 03/31/2020 0.06839 0.06839 - - - -
02/24/2020 02/25/2020 02/28/2020 0.07112 0.07112 - - - -
01/21/2020 01/22/2020 01/31/2020 0.06860 0.06860 - - - -
12/23/2019 12/24/2019 12/31/2019 0.07157 0.07157 - - - -
11/18/2019 11/19/2019 11/29/2019 0.06172 0.06172 - - - -
10/21/2019 10/22/2019 10/31/2019 0.05872 0.05872 - - - -
09/23/2019 09/24/2019 09/30/2019 0.05587 0.05587 - - - -
08/19/2019 08/20/2019 08/30/2019 0.05207 0.05207 - - - -
07/22/2019 07/23/2019 07/31/2019 0.05461 0.05461 - - - -
06/24/2019 06/25/2019 06/28/2019 0.05291 0.05291 - - - -
05/20/2019 05/21/2019 05/31/2019 0.05120 0.05120 - - - -
04/22/2019 04/23/2019 04/30/2019 0.05332 0.05332 - - - -
03/18/2019 03/19/2019 03/29/2019 0.05503 0.05503 - - - -
02/19/2019 02/20/2019 02/28/2019 0.05840 - - - - -
01/22/2019 01/23/2019 01/31/2019 0.05687 0.05687 - - - -
12/24/2018 12/26/2018 12/31/2018 0.07589 0.07589 - - - -
11/19/2018 11/20/2018 11/30/2018 0.04864 0.04864 - - - -
10/22/2018 10/23/2018 10/31/2018 0.04749 0.04749 - - - -
09/24/2018 09/25/2018 09/28/2018 0.04494 0.04494 - - - -
08/20/2018 08/21/2018 08/31/2018 0.04544 0.04544 - - - -
07/23/2018 07/24/2018 07/31/2018 0.05068 0.05068 - - - -
06/18/2018 06/19/2018 06/29/2018 0.04765 0.04765 - - - -
05/21/2018 05/22/2018 05/31/2018 0.04411 0.04411 - - - -
04/23/2018 04/24/2018 04/30/2018 0.04319 0.04319 - - - -
03/19/2018 03/20/2018 03/29/2018 0.03883 0.03883 - - - -
02/20/2018 02/21/2018 02/28/2018 0.04089 0.04089 - - - -
01/22/2018 01/23/2018 01/31/2018 0.03971 0.03971 - - - -
12/18/2017 12/19/2017 12/29/2017 0.04600 0.04600 - - - -
11/20/2017 11/21/2017 11/30/2017 0.04500 0.04500 - - - -
10/23/2017 10/24/2017 10/31/2017 0.04500 0.04500 - - - -
09/18/2017 09/19/2017 09/29/2017 0.04100 0.04100 - - - -
08/15/2017 08/17/2017 08/31/2017 0.03900 0.03900 - - - -
07/14/2017 07/18/2017 07/31/2017 0.03750 0.03750 - - - -
06/15/2017 06/19/2017 06/30/2017 0.03750 0.03750 - - - -
05/15/2017 05/17/2017 05/31/2017 0.03750 0.03750 - - - -
04/13/2017 04/18/2017 04/28/2017 0.03131 0.03131 - - - -
03/15/2017 03/17/2017 03/31/2017 0.03780 0.03780 - - - -
02/15/2017 02/17/2017 02/28/2017 0.03751 0.03751 - - - -
01/13/2017 01/18/2017 01/31/2017 0.03697 0.03697 - - - -
12/15/2016 12/19/2016 12/30/2016 0.07433 0.07433 - - - -
11/15/2016 11/17/2016 11/30/2016 0.03699 0.03699 - - - -
10/14/2016 10/18/2016 10/31/2016 0.02947 0.02947 - - - -
09/15/2016 09/19/2016 09/30/2016 0.03000 0.03000 - - - -
08/15/2016 08/17/2016 08/31/2016 0.03500 0.03500 - - - -
07/15/2016 07/19/2016 07/29/2016 0.03600 0.03600 - - - -
06/15/2016 06/17/2016 06/30/2016 0.04000 0.04000 - - - -
05/13/2016 05/17/2016 05/31/2016 0.03893 0.03893 - - - -
04/15/2016 04/19/2016 04/29/2016 0.03778 0.03778 - - - -
03/15/2016 03/17/2016 03/31/2016 0.03991 0.03991 - - - -
02/12/2016 02/17/2016 02/29/2016 0.03852 0.03852 - - - -
01/15/2016 01/20/2016 01/29/2016 0.03983 0.03983 - - - -
12/15/2015 12/17/2015 12/31/2015 0.05100 0.05100 - - - -
11/13/2015 11/17/2015 11/30/2015 0.03806 0.03806 - - - -
10/15/2015 10/19/2015 10/30/2015 0.03700 0.03700 - - - -
09/15/2015 09/17/2015 09/30/2015 0.03700 0.03700 - - - -
08/14/2015 08/18/2015 08/31/2015 0.03700 0.03700 - - - -
07/15/2015 07/17/2015 07/31/2015 0.03700 0.03700 - - - -
06/15/2015 06/17/2015 06/30/2015 0.03700 0.03700 - - - -

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 29 1 0 0 0 0
09/30/2020 64 32 1 0 0 0 0
06/30/2020 63 26 2 0 0 0 0
03/31/2020 62 17 2 0 0 0 0
Year Ended 2020 253 104 6 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 29 5 0 0 0 0
09/30/2020 64 30 1 0 0 0 0
06/30/2020 63 27 8 0 0 0 0
03/31/2020 62 38 5 0 0 0 0
Year Ended 2020 253 124 19 0 0 0 0

Fund Inception : 04/09/2015

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

There is no assurance that the Fund will provide low volatility.

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 S&P 500® Low Volatility Interest Rate Response Index is designed to provide exposure to the constituents of the S&P 500® Index that exhibit both low volatility and little sensitivity to changes in interest rates.

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).