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Invesco S&P SmallCap Low Volatility ETF

Product Details

The Invesco S&P SmallCap Low Volatility ETF (Fund) is based on the S&P SmallCap 600® Low Volatility Index (Index). The Fund generally 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, consisting of 120 out of 600 small-capitalization securities from the S&P SmallCap 600® Index with the lowest realized volatility over the past 12 months. Volatility is a statistical measurement of the magnitude of up and down asset price fluctuations over time. The Fund and the Index are rebalanced and reconstituted quarterly.

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 SmallCap 600 Low Volatility Index -17.21 -17.21 -1.20 6.71 N/A 9.12
S&P SmallCap 600 Index 11.29 11.29 7.74 12.37 11.92 11.88
Fund History (%)
Fund NAV -17.35 -17.35 -1.43 6.45 N/A 8.84
After Tax Held -18.41 -18.41 -2.37 5.62 N/A 8.07
After Tax Sold -10.42 -10.42 -1.38 4.81 N/A 6.90
Fund Market Price -17.35 -17.35 -1.42 6.43 N/A 8.83
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
S&P SmallCap 600 Low Volatility Index -17.21 -17.21 -1.20 6.71 N/A 9.12
S&P SmallCap 600 Index 11.29 11.29 7.74 12.37 11.92 11.88
Fund History (%)
Fund NAV -17.35 -17.35 -1.43 6.45 N/A 8.84
After Tax Held -18.41 -18.41 -2.37 5.62 N/A 8.07
After Tax Sold -10.42 -10.42 -1.38 4.81 N/A 6.90
Fund Market Price -17.35 -17.35 -1.42 6.43 N/A 8.83

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
Information Technology 22.49%
Industrials 21.72%
Financials 16.15%
Health Care 10.12%
Consumer Staples 9.19%
Real Estate 6.40%
Consumer Discretionary 4.01%
Materials 3.97%
Utilities 3.48%
Communication Services 2.48%
Investment Companies 0.01%
as of 01/14/2021

Market Cap & Style Allocations

Large-Cap Value -
Large-Cap Blend -
Large-Cap Growth -
Mid-Cap Value -
Mid-Cap Blend -
Mid-Cap Growth 0.77%
Small-Cap Value 14.89%
Small-Cap Blend 59.31%
Small-Cap Growth 25.03%

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

Fund Holdings subject to change

Ticker Company % of Fund
MSTR MicroStrategy Inc 2.25
WDR Waddell & Reed Financial Inc 1.12
UVV Universal Corp/VA 1.11
JOE St Joe Co/The 1.08
PSMT PriceSmart Inc 1.07
EGOV NIC Inc 1.06
EXPO Exponent Inc 1.05
HSTM HealthStream Inc 1.01
CSGS CSG Systems International Inc 1.00
PRGS Progress Software Corp 1.00
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 0.19437 0.19437 - - - -
09/21/2020 09/22/2020 09/30/2020 0.19096 0.19096 - - - -
06/22/2020 06/23/2020 06/30/2020 0.16247 0.16247 - - - -
03/23/2020 03/24/2020 03/31/2020 0.46514 0.46514 - - - -
12/23/2019 12/24/2019 12/31/2019 0.47665 0.47665 - - - -
09/23/2019 09/24/2019 09/30/2019 0.25443 0.25443 - - - -
06/24/2019 06/25/2019 06/28/2019 0.46447 0.46447 - - - -
03/18/2019 03/19/2019 03/29/2019 0.03887 0.03887 - - - -
12/24/2018 12/26/2018 12/31/2018 0.52094 0.52094 - - - -
09/24/2018 09/25/2018 09/28/2018 0.28272 0.28272 - - - -
06/18/2018 06/19/2018 06/29/2018 0.26392 0.26392 - - - -
03/19/2018 03/20/2018 03/29/2018 0.10462 0.10462 - - - -
12/18/2017 12/19/2017 12/29/2017 0.38356 0.38356 - - - -
09/18/2017 09/19/2017 09/29/2017 0.18484 0.18484 - - - -
06/16/2017 06/20/2017 06/30/2017 0.25450 0.25450 - - - -
03/17/2017 03/21/2017 03/31/2017 0.04016 0.04016 - - - -
12/16/2016 12/20/2016 12/30/2016 0.41811 0.41811 - - - -
09/16/2016 09/20/2016 09/30/2016 0.18566 0.18566 - - - -
06/17/2016 06/21/2016 06/30/2016 0.15406 0.15406 - - - -
03/18/2016 03/22/2016 03/31/2016 0.09107 0.09107 - - - -
12/18/2015 12/22/2015 12/31/2015 0.32511 0.32511 - - - -
09/18/2015 09/22/2015 09/30/2015 0.18671 0.18671 - - - -
06/19/2015 06/23/2015 06/30/2015 0.11803 0.11803 - - - -
03/20/2015 03/24/2015 03/31/2015 0.11383 0.11383 - - - -
12/19/2014 12/23/2014 12/31/2014 0.36134 0.36134 - - - -
09/19/2014 09/23/2014 09/30/2014 0.14237 0.14237 - - - -
06/20/2014 06/24/2014 06/30/2014 0.17783 0.17783 - - - -
03/21/2014 03/25/2014 03/31/2014 0.12020 0.12020 - - - -
12/20/2013 12/24/2013 12/31/2013 0.24810 0.24810 - - - -
09/20/2013 09/24/2013 09/30/2013 0.08640 0.08640 - - - -
06/21/2013 06/25/2013 06/28/2013 0.11524 0.11524 - - - -
03/15/2013 03/19/2013 03/28/2013 0.04327 0.04327 - - - -

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 33 3 0 0 0 0
09/30/2020 64 25 2 0 0 0 0
06/30/2020 63 21 7 0 0 0 0
03/31/2020 62 17 1 0 0 0 0
Year Ended 2020 253 96 13 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 24 4 0 0 0 0
09/30/2020 64 31 4 2 0 0 0
06/30/2020 63 26 8 1 0 0 0
03/31/2020 62 28 11 5 0 0 0
Year Ended 2020 253 109 27 8 0 0 0

Fund Inception : 02/15/2013

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

Stocks of small-capitalization companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale than large companies.

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 Fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index.

The S&P SmallCap 600® Index is a market-value weighted index that consists of 600 small-cap U.S. stocks chosen for market size, liquidity and industry group representation.

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).

Beta is a measure of risk representing how a security is expected to respond to general market movements. Smart Beta represents an alternative and selection index based methodology that seeks to outperform a benchmark or reduce portfolio risk, or both. Smart beta funds may underperform cap-weighted benchmarks and increase portfolio risk.