Product Details
The Invesco BulletShares® 2023 Corporate Bond ETF (Fund) is based on the Nasdaq Bulletshares® USD Corporate Bond 2023 Index (Index). The Fund will invest at least 80% of its total assets in corporate bonds that comprise the Index. The Index seeks to measure the performance of a portfolio of US dollar-denominated investment grade corporate bonds with maturities or effective maturities in 2023. The Fund does not purchase all of the securities in the Index; instead, the Fund utilizes a "sampling" methodology to seek to achieve its investment objective. The Fund and the Index are rebalanced monthly. The Fund has a designated year of maturity of 2023 and will terminate on or about Dec. 15, 2023. See the prospectus for more information.
Performance
Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
---|---|---|---|---|---|---|
Nasdaq BulletShares USD Corporate Bond 2023 Index | 2.00 | 2.68 | 1.31 | 3.40 | N/A | 3.41 |
Bloomberg Barclays U.S. Corporate Index | 2.78 | -1.70 | -2.95 | 1.56 | 2.31 | 2.16 |
Fund History (%) | ||||||
Fund NAV | 1.88 | 2.57 | 1.19 | 3.25 | N/A | 3.27 |
After Tax Held | 1.42 | 1.72 | 0.43 | 2.27 | N/A | 2.17 |
After Tax Sold | 1.11 | 1.52 | 0.60 | 2.08 | N/A | 2.03 |
Fund Market Price | 1.88 | 2.52 | 1.10 | 3.23 | N/A | 3.26 |
Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
---|---|---|---|---|---|---|
Nasdaq BulletShares USD Corporate Bond 2023 Index | 1.14 | 1.84 | 2.72 | 3.28 | N/A | 3.37 |
Bloomberg Barclays U.S. Corporate Index | 3.50 | -5.55 | -0.54 | 1.62 | 2.32 | 2.28 |
Fund History (%) | ||||||
Fund NAV | 1.06 | 1.74 | 2.58 | 3.12 | N/A | 3.24 |
After Tax Held | 0.82 | 1.00 | 1.81 | 2.15 | N/A | 2.14 |
After Tax Sold | 0.63 | 1.02 | 1.66 | 1.98 | N/A | 2.01 |
Fund Market Price | 1.07 | 1.73 | 2.53 | 3.07 | N/A | 3.23 |
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. 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.
Growth of $10,000
Data beginning Fund inception and ending 03/31/2023. 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.
Estimated Net Acquisition Yield Calculator
The Estimated Net Acquisition Yield Calculator provides an approximation of the yield to maturity, based on the market price of the fund at the time of purchase. However, it does not provide the actual yield calculation, as a number of factors can have an effect on a fund's actual yield to maturity. The calculation is based upon the purchase price of an individual share, accounting for the deduction of fund expenses. Please note that the results generated by the Estimated Net Acquisition Yield Calculator are for illustrative purposes only and are not representative of any specific investment outcome.
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as of
Net Asset Value (NAV) | $ |
Weighted Average Yield to Worst (YTW)1 | |
+ Price Adjustment2 | |
= Price Adjusted Weighted Average Yield to Worst3 | |
- Expense Ratio | - |
Estimated Net Acquisition Yield4 |
1. Weighted Average Yield to Worst uses the lowest discount rate for all possible redemption date scenarios with its market price. A fund's Average YTW is defined as the weighted average of a fund's individual bond holding YTW and is based upon the price of each individual bond that was utilized to calculate that day's net asset value and does not include fund fees and expenses.
2. Price Adjustment is an adjustment made to the Weighted Average Yield to Worst (which is based upon NAV) to extent that the Purchase Price is above or below NAV. A Purchase Price that is greater than NAV will effectively reduce the Weighted Average Yield to Worst, while Purchase Price less than NAV will effectively increase the Weighted Average Yield to Worst. The Price Adjustment is an approximation.
Formula:
Price Adjustment = [NAV - Purchase Price / (NAV X Average Duration at most recent quarter end)]
3. Price Adjusted Weighted Average Yield to Worst is the sum of the weighted average yield to worst and the price adjustment.
4. Estimated Net Acquisition Yield is an approximation of the Weighted Average Yield to Worst a shareholder may experience given the impact of purchase price and the fund's expense ratio on the Weighted Average Yield to Worst based upon NAV.
Formula:
Estimated Net Acquisition Weighted Average Yield to Worst = Weighted Average Yield to Worst + Price Adjustment - Expense Ratio
Note: Net asset value data is based on daily data and Weighted Average Yield to Worst data is based on weekly data.
Sector Allocation
Sector | Percent of Fund |
---|---|
Financials | 25.74% |
Health Care | 15.83% |
Investment Companies | 11.72% |
Information Technology | 9.32% |
Energy | 7.14% |
Industrials | 6.61% |
Consumer Staples | 5.88% |
Consumer Discretionary | 5.81% |
Utilities | 5.42% |
Communication Services | 3.64% |
Materials | 1.71% |
Real Estate | 1.17% |
Quality Allocations† as of 06/06/2023
S&P | Moody's |
---|---|
AAA : 3% | Aaa : 3% |
AA : 6% | Aa : 5% |
A : 40% | A : 46% |
BBB : 50% | Baa : 45% |
BB : 0% | Ba : 0% |
Not Rated : 1% | Not Rated : 1% |
Cash is excluded from the credit rating quality allocations table.
Maturity
Years | % of Fund |
---|---|
0 - 1 years | 99.10 |
1 - 5 years | 0.90 |
5 - 10 years | 0.00 |
10 - 15 years | 0.00 |
15 - 20 years | 0.00 |
20 - 25 years | 0.00 |
25 years and over | 0.00 |
as of 06/06/2023 Top Fixed-Income Holdings | View All
Holding Name | Coupon Rate | Maturity Date | Next Call Date | S&P / Moody's Rating† | Weight |
---|---|---|---|---|---|
Invesco Government & Agency Portfolio | N/A | N/A | NR/NR | 11.72% | |
Sprint LLC | 7.88% | 09/15/2023 | N/A | BBB-/Baa2 | 3.06% |
Oracle Corp | 2.40% | 09/15/2023 | 07/15/2023 | BBB/Baa2 | 1.76% |
Mitsubishi UFJ Financial Group Inc | 3.76% | 07/26/2023 | N/A | A-/A1 | 1.53% |
Bank of America Corp | 4.10% | 07/24/2023 | N/A | A-/A1 | 1.42% |
Goldman Sachs Group Inc/The | 1.22% | 12/06/2023 | 06/12/2023 | BBB+/A2 | 1.30% |
Walmart Inc | 3.40% | 06/26/2023 | 06/25/2023 | AA/Aa2 | 1.23% |
AerCap Ireland Capital DAC / AerCap Global Aviation Trust | 1.15% | 10/29/2023 | N/A | BBB/Baa2 | 1.20% |
Microsoft Corp | 3.62% | 12/15/2023 | 09/15/2023 | AAA/Aaa | 1.07% |
International Business Machines Corp | 3.38% | 08/01/2023 | N/A | A-/A3 | 1.06% |
Holdings are subject to change and are not buy/sell recommendations.
Distributions | Hide View All | Distribution Information
Ex-Date | Record Date | Pay Date | $/ Share |
Ordinary Income | Short Term Gains | Long Term Gains | Return of Capital | Liquidation Distribution |
---|---|---|---|---|---|---|---|---|
05/22/2023 | 05/23/2023 | 05/26/2023 | 0.05765 | 0.05765 | - | - | - | - |
04/24/2023 | 04/25/2023 | 04/28/2023 | 0.05196 | 0.05196 | - | - | - | - |
03/20/2023 | 03/21/2023 | 03/24/2023 | 0.04717 | 0.04717 | - | - | - | - |
02/21/2023 | 02/22/2023 | 02/24/2023 | 0.03908 | 0.03908 | - | - | - | - |
01/23/2023 | 01/24/2023 | 01/27/2023 | 0.03678 | 0.03678 | - | - | - | - |
12/19/2022 | 12/20/2022 | 12/23/2022 | 0.03654 | 0.03654 | - | - | - | - |
11/21/2022 | 11/22/2022 | 11/25/2022 | 0.03220 | 0.03220 | - | - | - | - |
10/24/2022 | 10/25/2022 | 10/28/2022 | 0.02899 | 0.02899 | - | - | - | - |
09/19/2022 | 09/20/2022 | 09/23/2022 | 0.02655 | 0.02655 | - | - | - | - |
08/22/2022 | 08/23/2022 | 08/26/2022 | 0.02663 | 0.02663 | - | - | - | - |
07/18/2022 | 07/19/2022 | 07/22/2022 | 0.02602 | 0.02602 | - | - | - | - |
06/21/2022 | 06/22/2022 | 06/30/2022 | 0.02356 | 0.02356 | - | - | - | - |
05/23/2022 | 05/24/2022 | 05/31/2022 | 0.02445 | 0.02445 | - | - | - | - |
04/18/2022 | 04/19/2022 | 04/29/2022 | 0.02283 | 0.02283 | - | - | - | - |
03/21/2022 | 03/22/2022 | 03/31/2022 | 0.02397 | 0.02397 | - | - | - | - |
02/22/2022 | 02/23/2022 | 02/28/2022 | 0.02090 | 0.02090 | - | - | - | - |
01/24/2022 | 01/25/2022 | 01/31/2022 | 0.02353 | 0.02353 | - | - | - | - |
12/20/2021 | 12/21/2021 | 12/31/2021 | 0.08226 | 0.02327 | 0.00082 | 0.05817 | - | - |
11/22/2021 | 11/23/2021 | 11/30/2021 | 0.02431 | 0.02431 | - | - | - | - |
10/18/2021 | 10/19/2021 | 10/29/2021 | 0.02584 | 0.02584 | - | - | - | - |
09/20/2021 | 09/21/2021 | 09/30/2021 | 0.02488 | 0.02488 | - | - | - | - |
08/23/2021 | 08/24/2021 | 08/31/2021 | 0.02554 | 0.02554 | - | - | - | - |
07/19/2021 | 07/20/2021 | 07/30/2021 | 0.02657 | 0.02657 | - | - | - | - |
06/21/2021 | 06/22/2021 | 06/30/2021 | 0.02625 | 0.02625 | - | - | - | - |
05/24/2021 | 05/25/2021 | 05/28/2021 | 0.02949 | 0.02949 | - | - | - | - |
04/19/2021 | 04/20/2021 | 04/30/2021 | 0.02934 | 0.02934 | - | - | - | - |
03/22/2021 | 03/23/2021 | 03/31/2021 | 0.03250 | 0.03250 | - | - | - | - |
02/22/2021 | 02/23/2021 | 02/26/2021 | 0.03065 | 0.03065 | - | - | - | - |
01/19/2021 | 01/20/2021 | 01/29/2021 | 0.03550 | 0.03550 | - | - | - | - |
12/21/2020 | 12/22/2020 | 12/31/2020 | 0.03836 | 0.03526 | - | 0.00310 | - | - |
11/23/2020 | 11/24/2020 | 11/30/2020 | 0.03718 | 0.03718 | - | - | - | - |
10/19/2020 | 10/20/2020 | 10/30/2020 | 0.03938 | 0.03938 | - | - | - | - |
09/21/2020 | 09/22/2020 | 09/30/2020 | 0.03932 | 0.03932 | - | - | - | - |
08/24/2020 | 08/25/2020 | 08/31/2020 | 0.04120 | 0.04120 | - | - | - | - |
07/20/2020 | 07/21/2020 | 07/31/2020 | 0.04325 | 0.04325 | - | - | - | - |
06/22/2020 | 06/23/2020 | 06/30/2020 | 0.04323 | 0.04323 | - | - | - | - |
05/18/2020 | 05/19/2020 | 05/29/2020 | 0.04665 | 0.04665 | - | - | - | - |
04/20/2020 | 04/21/2020 | 04/30/2020 | 0.04632 | 0.04632 | - | - | - | - |
03/23/2020 | 03/24/2020 | 03/31/2020 | 0.04863 | 0.04863 | - | - | - | - |
02/24/2020 | 02/25/2020 | 02/28/2020 | 0.04584 | 0.04584 | - | - | - | - |
01/21/2020 | 01/22/2020 | 01/31/2020 | 0.05042 | 0.05042 | - | - | - | - |
12/23/2019 | 12/24/2019 | 12/31/2019 | 0.05106 | 0.04926 | 0.00180 | - | - | - |
11/18/2019 | 11/19/2019 | 11/29/2019 | 0.05042 | 0.05042 | - | - | - | - |
10/21/2019 | 10/22/2019 | 10/31/2019 | 0.05296 | 0.05296 | - | - | - | - |
09/23/2019 | 09/24/2019 | 09/30/2019 | 0.05192 | 0.05192 | - | - | - | - |
08/19/2019 | 08/20/2019 | 08/30/2019 | 0.05302 | 0.05302 | - | - | - | - |
07/22/2019 | 07/23/2019 | 07/31/2019 | 0.05413 | 0.05413 | - | - | - | - |
06/24/2019 | 06/25/2019 | 06/28/2019 | 0.05279 | 0.05279 | - | - | - | - |
05/20/2019 | 05/21/2019 | 05/31/2019 | 0.05307 | 0.05307 | - | - | - | - |
04/22/2019 | 04/23/2019 | 04/30/2019 | 0.05215 | 0.05215 | - | - | - | - |
03/18/2019 | 03/19/2019 | 03/29/2019 | 0.05236 | 0.05236 | - | - | - | - |
02/19/2019 | 02/20/2019 | 02/28/2019 | 0.04884 | - | - | - | - | - |
01/22/2019 | 01/23/2019 | 01/31/2019 | 0.05145 | 0.05145 | - | - | - | - |
12/26/2018 | 12/27/2018 | 12/31/2018 | - | - | 0.00041 | 0.00108 | - | - |
12/24/2018 | 12/26/2018 | 12/31/2018 | 0.07694 | 0.07694 | - | - | - | - |
11/19/2018 | 11/20/2018 | 11/30/2018 | 0.04914 | 0.04914 | - | - | - | - |
10/22/2018 | 10/23/2018 | 10/31/2018 | 0.04441 | 0.04441 | - | - | - | - |
09/24/2018 | 09/25/2018 | 09/28/2018 | 0.05513 | 0.05513 | - | - | - | - |
08/20/2018 | 08/21/2018 | 08/31/2018 | 0.02290 | 0.02290 | - | - | - | - |
08/02/2018 | 08/03/2018 | 08/07/2018 | 0.04704 | 0.04704 | - | - | - | - |
07/03/2018 | 07/05/2018 | 07/09/2018 | 0.04662 | 0.04662 | - | - | - | - |
06/04/2018 | 06/05/2018 | 06/07/2018 | 0.05129 | 0.05129 | - | - | - | - |
05/02/2018 | 05/03/2018 | 05/07/2018 | 0.04718 | 0.04718 | - | - | - | - |
04/03/2018 | 04/04/2018 | 04/06/2018 | 0.04780 | 0.04780 | - | - | - | - |
03/02/2018 | 03/06/2018 | 03/08/2018 | 0.04230 | 0.04230 | - | - | - | - |
02/02/2018 | 02/06/2018 | 02/08/2018 | 0.04960 | 0.04960 | - | - | - | - |
12/28/2017 | 12/29/2017 | 01/02/2018 | 0.09390 | 0.05400 | 0.01390 | 0.02600 | - | - |
12/04/2017 | 12/05/2017 | 12/07/2017 | 0.04360 | 0.04360 | - | - | - | - |
11/02/2017 | 11/03/2017 | 11/07/2017 | 0.04200 | 0.04200 | - | - | - | - |
10/03/2017 | 10/04/2017 | 10/06/2017 | 0.04660 | 0.04660 | - | - | - | - |
09/01/2017 | 09/06/2017 | 09/08/2017 | 0.04540 | 0.04540 | - | - | - | - |
08/01/2017 | 08/03/2017 | 08/07/2017 | 0.04580 | 0.04580 | - | - | - | - |
07/03/2017 | 07/06/2017 | 07/10/2017 | 0.04550 | 0.04550 | - | - | - | - |
06/01/2017 | 06/05/2017 | 06/07/2017 | 0.05050 | 0.05050 | - | - | - | - |
05/01/2017 | 05/03/2017 | 05/05/2017 | 0.04280 | 0.04280 | - | - | - | - |
04/03/2017 | 04/05/2017 | 04/07/2017 | 0.04660 | 0.04660 | - | - | - | - |
03/01/2017 | 03/03/2017 | 03/07/2017 | 0.04080 | 0.04080 | - | - | - | - |
02/01/2017 | 02/03/2017 | 02/07/2017 | 0.05210 | 0.05210 | - | - | - | - |
12/28/2016 | 12/30/2016 | 01/04/2017 | 0.11280 | 0.04370 | 0.04740 | 0.00820 | 0.01350 | - |
12/01/2016 | 12/05/2016 | 12/07/2016 | 0.05430 | 0.05430 | - | - | - | - |
11/01/2016 | 11/03/2016 | 11/07/2016 | 0.04700 | 0.04700 | - | - | - | - |
10/03/2016 | 10/05/2016 | 10/07/2016 | 0.05120 | 0.05120 | - | - | - | - |
09/01/2016 | 09/06/2016 | 09/08/2016 | 0.05460 | 0.05460 | - | - | - | - |
08/01/2016 | 08/03/2016 | 08/05/2016 | 0.04820 | 0.04820 | - | - | - | - |
07/01/2016 | 07/06/2016 | 07/08/2016 | 0.05030 | 0.05030 | - | - | - | - |
06/01/2016 | 06/03/2016 | 06/07/2016 | 0.05150 | 0.05150 | - | - | - | - |
05/02/2016 | 05/04/2016 | 05/06/2016 | 0.04940 | 0.04940 | - | - | - | - |
04/01/2016 | 04/05/2016 | 04/07/2016 | 0.04840 | 0.04840 | - | - | - | - |
03/01/2016 | 03/03/2016 | 03/07/2016 | 0.04300 | 0.04300 | - | - | - | - |
02/01/2016 | 02/03/2016 | 02/05/2016 | 0.04710 | 0.04710 | - | - | - | - |
12/29/2015 | 12/31/2015 | 01/04/2016 | 0.07585 | 0.04853 | 0.00330 | - | 0.02401 | - |
12/01/2015 | 12/03/2015 | 12/07/2015 | 0.05400 | 0.05400 | - | - | - | - |
11/02/2015 | 11/04/2015 | 11/06/2015 | 0.04220 | 0.04220 | - | - | - | - |
10/01/2015 | 10/05/2015 | 10/07/2015 | 0.05510 | 0.05510 | - | - | - | - |
09/01/2015 | 09/03/2015 | 09/08/2015 | 0.04930 | 0.04930 | - | - | - | - |
08/03/2015 | 08/05/2015 | 08/07/2015 | 0.04690 | 0.04690 | - | - | - | - |
07/01/2015 | 07/06/2015 | 07/08/2015 | 0.05010 | 0.05010 | - | - | - | - |
06/01/2015 | 06/03/2015 | 06/05/2015 | 0.04970 | 0.04970 | - | - | - | - |
05/01/2015 | 05/05/2015 | 05/07/2015 | 0.05150 | 0.05150 | - | - | - | - |
04/01/2015 | 04/06/2015 | 04/08/2015 | 0.05560 | 0.05560 | - | - | - | - |
03/02/2015 | 03/04/2015 | 03/06/2015 | 0.03280 | 0.03280 | - | - | - | - |
02/02/2015 | 02/04/2015 | 02/06/2015 | 0.03840 | 0.03840 | - | - | - | - |
12/29/2014 | 12/31/2014 | 01/02/2015 | 0.05994 | 0.04932 | 0.00008 | - | 0.01054 | - |
12/01/2014 | 12/03/2014 | 12/05/2014 | 0.04920 | 0.04920 | - | - | - | - |
11/03/2014 | 11/05/2014 | 11/07/2014 | 0.04920 | 0.04920 | - | - | - | - |
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% |
03/31/2023 | 62 | 55 | 0 | 0 | 0 | 0 | 0 |
12/31/2022 | 63 | 62 | 0 | 0 | 0 | 0 | 0 |
09/30/2022 | 64 | 58 | 0 | 0 | 0 | 0 | 0 |
06/30/2022 | 62 | 57 | 0 | 0 | 0 | 0 | 0 |
Year Ended 2022 | 251 | 212 | 0 | 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% |
03/31/2023 | 62 | 7 | 0 | 0 | 0 | 0 | 0 |
12/31/2022 | 63 | 1 | 0 | 0 | 0 | 0 | 0 |
09/30/2022 | 64 | 6 | 0 | 0 | 0 | 0 | 0 |
06/30/2022 | 62 | 5 | 0 | 0 | 0 | 0 | 0 |
Year Ended 2022 | 251 | 39 | 0 | 0 | 0 | 0 | 0 |
Fund Inception : 09/17/2014
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.
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.
Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.
During the final year of the Fund's operations, as the bonds mature and the portfolio transitions to cash and cash equivalents, the Fund's yield will generally tend to move toward the yield of cash and cash equivalents and thus may be lower than the yields of the bonds previously held by the Fund and/or bonds in the market. If interest rates fall, it is possible that issuers of callable securities will call or prepay their securities before maturity, causing the Fund to reinvest proceeds in securities bearing lower interest rates and reducing the Fund's income and distributions.
An issuer may be unable or unwilling to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer's credit rating.
The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
Income generated from the Fund is based primarily on prevailing interest rates, which can vary widely over the short- and long-term. If interest rates drop, the Fund's income may drop as well. During periods of rising interest rates, an issuer may exercise its right to pay principal on an obligation later than expected, resulting in a decrease in the value of the obligation and in a decline in the Fund's income.
An issuer's ability to prepay principal prior to maturity can limit the Fund's potential gains. Prepayments may require the Fund to replace the loan or debt security with a lower yielding security, adversely affecting the Fund's yield.
The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind.
Unlike a direct investment in bonds, the Fund's income distributions will vary over time and the breakdown of returns between Fund distributions and liquidation proceeds are not predictable at the time of investment. For example, at times the Fund may make distributions at a greater (or lesser) rate than the coupon payments received, which will result in the Fund returning a lesser (or greater) amount on liquidation than would otherwise be the case. The rate of Fund distribution payments may affect the tax characterization of returns, and the amount received as liquidation proceeds upon Fund termination may result in a gain or loss for tax purposes.
During periods of reduced market liquidity or in the absence of readily available market quotations for the holdings of the Fund, the ability of the Fund to value its holdings becomes more difficult and the judgment of the Sub-Adviser may play a greater role in the valuation of the Fund's holdings due to reduced availability of reliable objective pricing data.
The Fund's use of a representative sampling approach will result in its holding a smaller number of securities than are in the underlying Index, and may be subject to greater volatility.
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 Bloomberg Barclays U.S. Corporate Index is an unmanaged index considered representative of fixed-rate investment-grade taxable bond debt.
Nasdaq BulletShares® USD Corporate Bond Indexes are trademarks of Invesco Indexing LLC (index provider) and have been licensed for use by Invesco Capital Management LLC (investment adviser). Invesco Indexing LLC, Invesco Capital Management LLC, and Invesco Distributors, Inc. are wholly owned, indirect subsidiaries of Invesco Ltd.