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Invesco MSCI Global Timber ETF

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Product Details

The Invesco MSCI Global Timber ETF (the "Fund") is based on the MSCI ACWI IMI Timber Select Capped Index (the "Index"). The Fund will invest at least 90% of its total assets in stock, American depositary receipts (ADRs), global depositary receipts (GDRs) and depositary receipts that comprise the Index. The Index measures the performance of securities engaged in the ownership and management of forests, timberlands and production of products using timber as raw materials. The index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are rebalanced quarterly.

as of 07/31/2020

Morningstar Rating

Overall Rating - Natural Resources Category

As of 07/31/2020 the Fund had an overall rating of 4 stars out of 105 funds and was rated 3 stars out of 105 funds, 3 stars out of 97 funds and 4 stars out of 81 funds for the 3-, 5- and 10- year periods, respectively.

Morningstar details

Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2020 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.

as of 07/31/2020 06/30/2020

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
MSCI ACWI IMI Timber Select Capped Index -11.89 -0.30 -1.39 N/A N/A N/A
MSCI World Index -1.26 7.23 7.52 7.52 9.61 5.06
Fund History (%)
Fund NAV -11.85 -0.12 -1.22 2.51 5.53 2.24
After Tax Held -11.85 -0.65 -1.83 1.82 4.75 1.54
After Tax Sold -7.01 0.57 -0.92 1.78 4.12 1.46
Fund Market Price -12.12 -0.20 -1.39 2.42 5.42 2.20
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
MSCI ACWI IMI Timber Select Capped Index -15.42 -7.19 -2.61 N/A N/A N/A
MSCI World Index -5.77 2.84 6.70 6.90 9.95 4.70
Fund History (%)
Fund NAV -15.34 -7.19 -2.47 1.45 5.95 1.93
After Tax Held -15.34 -7.67 -3.06 0.76 5.17 1.22
After Tax Sold -9.08 -3.62 -1.83 0.98 4.48 1.23
Fund Market Price -15.09 -6.80 -2.49 1.50 6.06 1.93

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 06/30/2020

Growth of $10,000

Data beginning 10 years prior to the ending date of 06/30/2020. 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.

MSCI ACWI IMI Timber Select Capped Index* performance prior to 5/20/2016 reflects that of the original Underlying Index, Beacon Global Timber Index. From 5/20/2016, forward, the Index performance reflects that of the Underlying Index MSCI ACWI IMI Timber Select Capped Index AND IS NOT INTENDED FOR ANY THIRD PARTY USE.

as of 08/10/2020

Top Country Allocation

Country Percentage
United States 47.42%
Finland 11.01%
United Kingdom 7.26%
Sweden 6.88%
Canada 4.50%
Brazil 4.40%
Japan 4.29%
Ireland 3.99%
Switzerland 2.44%
Chile 1.21%
as of 08/07/2020

Market Cap & Style Allocations

Large-Cap Value 7.26%
Large-Cap Blend 2.60%
Large-Cap Growth 0.31%
Mid-Cap Value 42.04%
Mid-Cap Blend 20.64%
Mid-Cap Growth 9.49%
Small-Cap Value 8.00%
Small-Cap Blend 9.45%
Small-Cap Growth 0.21%

as of 08/10/2020 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
WY Weyerhaeuser Co 6.65
AMCR Amcor PLC 5.05
IP International Paper Co 4.85
AVY Avery Dennison Corp 4.83
MNDI LN Mondi PLC 4.80
PKG Packaging Corp of America 4.59
UPM FH UPM-Kymmene Oyj 4.13
WRK Westrock Co 4.03
SKG Smurfit Kappa Group PLC 3.99
STERV FH Stora Enso Oyj 3.87
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
12/23/2019 12/24/2019 12/31/2019 0.77097 0.77097 - - - -
12/24/2018 12/26/2018 12/31/2018 0.82460 0.82460 - - - -
12/26/2017 12/27/2017 12/29/2017 0.49910 0.49910 - - - -
12/23/2016 12/28/2016 12/30/2016 0.51520 0.51520 - - - -
12/24/2015 12/29/2015 12/31/2015 0.35840 0.35840 - - - -
12/24/2014 12/29/2014 12/31/2014 0.68500 0.68500 - - - -
12/24/2013 12/27/2013 12/31/2013 0.36000 0.36000 - - - -
12/24/2012 12/27/2012 12/31/2012 0.25300 0.25300 - - - -
12/23/2011 12/28/2011 12/30/2011 0.38700 0.38700 - - - -
12/27/2010 12/29/2010 12/31/2010 0.59400 0.59400 - - - -
12/24/2009 12/29/2009 12/31/2009 0.04900 0.04900 - - - -
12/24/2008 12/29/2008 12/31/2008 0.40800 0.40800 - - - -

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%
06/30/2020 63 9 3 1 0 0 0
03/31/2020 62 4 0 0 0 0 0
12/31/2019 64 10 2 0 0 0 0
09/30/2019 64 7 1 0 0 0 0
Year Ended 2019 252 76 9 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%
06/30/2020 63 16 19 8 7 0 0
03/31/2020 62 25 17 14 2 0 0
12/31/2019 64 45 7 0 0 0 0
09/30/2019 64 42 14 0 0 0 0
Year Ended 2019 252 133 34 0 0 0 0

Fund Inception : 11/09/2007

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, such as global timber and sector, such as basic materials, 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.

The risks of investing in securities of foreign issuers, including emerging market issuers, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.

The performance of an investment concentrated in issuers of a certain region or country is expected to be closely tied to conditions within that region and to be more volatile than more geographically diversified investments.

REITs are subject to additional risks than general real estate investments. A REITs value can depend on the structure and cash flow it generates. REITs concentrated in a limited number or type of properties, investments or narrow geographic areas are subject to the risks affecting those properties or areas to a greater extent than less concentrated investments. REITs are subject to certain requirements under federal tax law and may have expenses, including advisory and administration expenses. As a result, Fund will incur its pro rata share of the underlying expenses.

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

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 MSCI World Index is an unmanaged index considered representative of stocks of developed countries. The index is computed using the net return, which withholds applicable taxes for non-resident investors.

The Beacon Global Timber Index tracks the performance of global timber companies.

Invesco MSCI Global Timber ETF is not sponsored, endorsed, sold or promoted by MSCI Inc. ("MSCI"), any of its affiliates, any of its information providers or any other third party involved in, or related to, compiling, computing or creating any MSCI index (collectively, the "MSCI parties"). The MSCI ACWI IMI Timber Select Capped Index (the "MSCI Index") is the exclusive property of MSCI. MSCI and the MSCI index names are service mark(s) of MSCI or its affiliates and have been licensed for use for certain purposes by Invesco. None of the MSCI parties makes any representation or warranty, express or implied, to the issuer or owners of Invesco MSCI Global Timber ETF or any other person or entity regarding the advisability of investing in the Invesco MSCI Global Timber ETF generally or in the Invesco MSCI Global Timber ETF particularly or the ability of the MSCI Index to track corresponding stock market performance. MSCI or its affiliates are the licensors of certain trademarks, service marks and trade names and of the MSCI Index which is determined, composed, and calculated by MSCI without regard to the Invesco MSCI Global Timber ETF or the issuer or owners of the Invesco MSCI Global Timber ETF or any other person or entity.