Product Details
The Invesco High Yield Bond Factor ETF (Fund) is an actively managed exchange-traded fund (ETF) that seeks total return by investing, at least 80% of its net assets in high-yield, below-investment grade, fixed-income securities, and in derivatives and other instruments that have economic characteristics similar to such securities. The Fund utilizes a factor-based strategy that seeks to outperform the Fund’s market-weighted benchmark index by systematically targeting securities in the benchmark index exhibiting quantifiable issuer characteristics (or “factors”) that the investment team believes will have higher returns than other fixed income securities with comparable characteristics over market cycles.
Performance
Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
---|---|---|---|---|---|---|
Bloomberg US Corporate High Yield 2% Issuer Capped Total Return Index | 7.15 | 7.19 | 1.81 | 3.31 | 4.47 | 0.62 |
Fund History (%) | ||||||
Fund NAV | 7.53 | 7.09 | N/A | N/A | N/A | 0.19 |
After Tax Held | 5.52 | 4.15 | N/A | N/A | N/A | -2.00 |
After Tax Sold | 4.42 | 4.12 | N/A | N/A | N/A | -0.77 |
Fund Market Price | 7.91 | 7.37 | N/A | N/A | N/A | 0.17 |
Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
---|---|---|---|---|---|---|
Bloomberg US Corporate High Yield 2% Issuer Capped Total Return Index | 5.38 | 9.07 | 3.12 | 3.34 | 4.43 | 0.01 |
Fund History (%) | ||||||
Fund NAV | 5.50 | 7.69 | N/A | N/A | N/A | -0.54 |
After Tax Held | 4.04 | 4.86 | N/A | N/A | N/A | -2.66 |
After Tax Sold | 3.24 | 4.49 | N/A | N/A | N/A | -1.28 |
Fund Market Price | 6.03 | 7.97 | N/A | N/A | N/A | -0.49 |
This is a new Fund and has no full-year Fund performance to report as of most recent quarter end.
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.
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.
Growth of $10,000
Data beginning 10 years prior to the ending date of 06/30/2023. 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.
Market Cap & Style Allocations
Large-Cap Value | 100.00% |
Large-Cap Blend | - |
Large-Cap Growth | - |
Mid-Cap Value | - |
Mid-Cap Blend | - |
Mid-Cap Growth | - |
Small-Cap Value | - |
Small-Cap Blend | - |
Small-Cap Growth | - |
Quality Allocations† as of 09/29/2023
S&P | Moody's |
---|---|
AAA : 0% | Aaa : 0% |
AA : 0% | Aa : 0% |
BBB : 1% | Baa : 2% |
BB : 61% | Ba : 41% |
B : 32% | B : 49% |
CCC : 5% | Caa : 6% |
Not Rated : 4% | Not Rated : 5% |
Cash is excluded from the credit rating quality allocations table.
Maturity
Years | % of Fund |
---|---|
0 - 1 years | 7.93 |
1 - 5 years | 60.38 |
5 - 10 years | 29.07 |
10 - 15 years | 0.60 |
15 - 20 years | 0.52 |
20 - 25 years | 0.13 |
25 years and over | 1.37 |
as of 09/29/2023 Top Fixed-Income Holdings | View All
Holding Name | Coupon Rate | Maturity Date | Next Call Date | S&P / Moody's Rating† | Weight |
---|---|---|---|---|---|
CBOT 5 Year US Treasury Note | N/A | 12/29/2023 | N/A | NR/NR | 5.24% |
CBOT 10 Year US Treasury Note | N/A | 12/19/2023 | N/A | NR/NR | 4.40% |
Intercontinental Exchange Inc | 5.00% | 12/20/2027 | N/A | NR/NR | 1.89% |
Ultra 10-Year US Treasury Note Futures | N/A | 12/19/2023 | N/A | NR/NR | 0.76% |
Neptune Bidco US Inc | 9.29% | 04/15/2029 | 10/15/2025 | B/B2 | 0.66% |
AECOM | 5.12% | 03/15/2027 | 12/15/2026 | BB-/Ba3 | 0.64% |
MPT Operating Partnership LP / MPT Finance Corp | 5.00% | 10/15/2027 | 10/30/2023 | BB+/Ba1 | 0.63% |
CCO Holdings LLC / CCO Holdings Capital Corp | 5.12% | 05/01/2027 | 10/30/2023 | BB-/B1 | 0.61% |
TransDigm Inc | 6.25% | 03/15/2026 | 10/30/2023 | B+/Ba3 | 0.61% |
Allied Universal Holdco LLC / Allied Universal Finance Corp | 6.62% | 07/15/2026 | 10/30/2023 | B/B3 | 0.56% |
Holdings are subject to change and are not buy/sell recommendations.
as of 09/29/2023 Summary Holdings | View All
Fund Holdings subject to change
Investment | Long / Short | % of Net Assets |
---|---|---|
Communication Services | Long | 9.78 |
Consumer Discretionary | Long | 19.02 |
Consumer Staples | Long | 2.06 |
Derivatives | Long | 10.67 |
Derivatives | Short | -5.50 |
Energy | Long | 11.43 |
Financials | Long | 10.35 |
Health Care | Long | 6.25 |
Industrials | Long | 12.24 |
Information Technology | Long | 5.36 |
Materials | Long | 7.72 |
Real Estate | Long | 3.92 |
Telecommunication Services | Long | 3.05 |
U.S. Government Securities | Long | 0.21 |
UnClassified | Long | 0.18 |
Utilities | Long | 3.26 |
Collateral | Long / Short | % of Net Assets |
No holdings available |
as of 09/29/2023 Holdings | View All
Fund Holdings subject to change
Futures | % of Net Assets |
---|---|
No holdings available | |
Swaps | % of Net Assets |
No holdings available |
Collateral | % of Net Assets |
---|---|
CBOT 5 Year US Treasury Note | 5.24 |
CBOT 10 Year US Treasury Note | 4.40 |
Intercontinental Exchange Inc | 1.89 |
Ford Motor Credit Co LLC | 1.77 |
CHS/Community Health Systems Inc | 1.30 |
OneMain Finance Corp | 1.01 |
Standard Industries Inc/NJ | 0.89 |
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc | 0.87 |
MPT Operating Partnership LP / MPT Finance Corp | 0.84 |
CCO Holdings LLC / CCO Holdings Capital Corp | 0.81 |
Melco Resorts Finance Ltd | 0.81 |
LCPR Senior Secured Financing DAC | 0.80 |
Venture Global LNG Inc | 0.80 |
Hilcorp Energy I LP / Hilcorp Finance Co | 0.79 |
EQM Midstream Partners LP | 0.78 |
CSC Holdings LLC | 0.78 |
Nordstrom Inc | 0.77 |
Icahn Enterprises LP / Icahn Enterprises Finance Corp | 0.76 |
Ultra 10-Year US Treasury Note Futures | 0.76 |
Crescent Energy Finance LLC | 0.73 |
Resorts World Las Vegas LLC / RWLV Capital Inc | 0.72 |
Seagate HDD Cayman | 0.71 |
Altice France SA/France | 0.69 |
Level 3 Financing Inc | 0.69 |
Macy's Retail Holdings LLC | 0.67 |
Neptune Bidco US Inc | 0.66 |
AdaptHealth LLC | 0.66 |
New Fortress Energy Inc | 0.66 |
AECOM | 0.64 |
DISH DBS Corp | 0.63 |
TEGNA Inc | 0.63 |
Service Properties Trust | 0.63 |
TransDigm Inc | 0.61 |
Las Vegas Sands Corp | 0.61 |
Rockies Express Pipeline LLC | 0.60 |
Chemours Co/The | 0.57 |
Hughes Satellite Systems Corp | 0.57 |
NRG Energy Inc | 0.57 |
Allied Universal Holdco LLC / Allied Universal Finance Corp | 0.56 |
Delta Air Lines Inc | 0.55 |
Newell Brands Inc | 0.55 |
Paramount Global | 0.55 |
Summit Midstream Holdings LLC / Summit Midstream Finance Cor | 0.54 |
Mineral Resources Ltd | 0.54 |
Gap Inc/The | 0.54 |
Comstock Resources Inc | 0.54 |
United Wholesale Mortgage LLC | 0.53 |
Aramark Services Inc | 0.52 |
Howmet Aerospace Inc | 0.52 |
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp | 0.50 |
PRA Group Inc | 0.50 |
Caesars Entertainment Inc | 0.50 |
Bausch Health Cos Inc | 0.50 |
American Airlines Inc/AAdvantage Loyalty IP Ltd | 0.49 |
Directv Financing LLC / Directv Financing Co-Obligor Inc | 0.48 |
Bombardier Inc | 0.47 |
Rakuten Group Inc | 0.47 |
Jaguar Land Rover Automotive PLC | 0.47 |
Olympus Water US Holding Corp | 0.47 |
SBA Communications Corp | 0.46 |
Cinemark USA Inc | 0.46 |
Telecom Italia SpA/Milano | 0.45 |
ASG Finance Designated Activity Co | 0.45 |
ams-OSRAM AG | 0.45 |
Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus | 0.45 |
Tenet Healthcare Corp | 0.45 |
Navient Corp | 0.45 |
Drax Finco PLC | 0.45 |
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packag | 0.44 |
INEOS Finance PLC | 0.44 |
Connect Finco SARL / Connect US Finco LLC | 0.44 |
EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia | 0.44 |
Synchrony Financial | 0.44 |
Albion Financing 2SARL | 0.43 |
JELD-WEN Inc | 0.43 |
Goodyear Tire & Rubber Co/The | 0.43 |
Sotheby's | 0.43 |
Jazz Securities DAC | 0.43 |
ZF North America Capital Inc | 0.43 |
Freedom Mortgage Corp | 0.42 |
IHO Verwaltungs GmbH | 0.42 |
Performance Food Group Inc | 0.42 |
Travel + Leisure Co | 0.42 |
Xerox Holdings Corp | 0.42 |
Cloud Software Group Inc | 0.41 |
Office Properties Income Trust | 0.41 |
Viasat Inc | 0.40 |
Organon & Co / Organon Foreign Debt Co-Issuer BV | 0.40 |
iHeartCommunications Inc | 0.40 |
Pitney Bowes Inc | 0.40 |
Rand Parent LLC | 0.40 |
Sealed Air Corp | 0.39 |
Premier Entertainment Sub LLC / Premier Entertainment Financ | 0.39 |
C&S Group Enterprises LLC | 0.39 |
Buckeye Partners LP | 0.38 |
Algonquin Power & Utilities Corp | 0.38 |
Bath & Body Works Inc | 0.38 |
CommScope Inc | 0.38 |
Cleveland-Cliffs Inc | 0.38 |
Masonite International Corp | 0.38 |
US Acute Care Solutions LLC | 0.38 |
Altice Financing SA | 0.37 |
Tenneco Inc | 0.37 |
Midcap Financial Issuer Trust | 0.37 |
Iron Mountain Inc | 0.37 |
LGI Homes Inc | 0.37 |
Affinity Interactive | 0.37 |
WPX Energy Inc | 0.36 |
Builders FirstSource Inc | 0.36 |
VZ Secured Financing BV | 0.36 |
Interface Inc | 0.35 |
Prime Security Services Borrower LLC / Prime Finance Inc | 0.35 |
Enerflex Ltd | 0.35 |
Tempur Sealy International Inc | 0.35 |
Abercrombie & Fitch Management Co | 0.34 |
Avient Corp | 0.34 |
NCL Corp Ltd | 0.34 |
Open Text Holdings Inc | 0.34 |
Likewize Corp | 0.33 |
Staples Inc | 0.33 |
DISH Network Corp | 0.33 |
Veritas US Inc / Veritas Bermuda Ltd | 0.33 |
Herbalife Nutrition Ltd / HLF Financing Inc | 0.33 |
ACCO Brands Corp | 0.32 |
Frontier North Inc | 0.32 |
Imola Merger Corp | 0.32 |
Scientific Games Holdings LP/Scientific Games US FinCo Inc | 0.32 |
Parkland Corp | 0.32 |
American Airlines Inc | 0.32 |
EnLink Midstream Partners LP | 0.32 |
Coinbase Global Inc | 0.32 |
CoreCivic Inc | 0.31 |
Baytex Energy Corp | 0.31 |
MPH Acquisition Holdings LLC | 0.31 |
Spirit AeroSystems Inc | 0.31 |
Vistra Operations Co LLC | 0.30 |
NuStar Logistics LP | 0.30 |
MGM Resorts International | 0.30 |
Ball Corp | 0.29 |
Allegiant Travel Co | 0.29 |
Global Atlantic Fin Co | 0.28 |
Mauser Packaging Solutions Holding Co | 0.28 |
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Alber | 0.28 |
Realogy Group LLC / Realogy Co-Issuer Corp | 0.27 |
Kohl's Corp | 0.27 |
Caesars Resort Collection LLC / CRC Finco Inc | 0.27 |
Vista Outdoor Inc | 0.27 |
Ultra U.S. Treasury Bond Futures | 0.27 |
PM General Purchaser LLC | 0.27 |
WESCO Distribution Inc | 0.26 |
Enviva Partners LP / Enviva Partners Finance Corp | 0.26 |
Grand Canyon University | 0.26 |
Methanex Corp | 0.26 |
Wolverine World Wide Inc | 0.26 |
Sabre GLBL Inc | 0.26 |
Live Nation Entertainment Inc | 0.26 |
AthenaHealth Group Inc | 0.26 |
Life Time Inc | 0.26 |
Specialty Building Products Holdings LLC / SBP Finance Corp | 0.26 |
Windstream Escrow LLC / Windstream Escrow Finance Corp | 0.26 |
Tri Pointe Homes Inc | 0.25 |
Advantage Sales & Marketing Inc | 0.25 |
Under Armour Inc | 0.25 |
QVC Inc | 0.25 |
Infrabuild Australia Pty Ltd | 0.24 |
Rayonier AM Products Inc | 0.24 |
Moss Creek Resources Holdings Inc | 0.24 |
Vital Energy Inc | 0.24 |
CVR Energy Inc | 0.23 |
NFP Corp | 0.23 |
LSF9 Atlantis Holdings LLC / Victra Finance Corp | 0.23 |
Owens & Minor Inc | 0.23 |
HUB International Ltd | 0.23 |
Scripps Escrow II Inc | 0.23 |
Domtar Corp | 0.23 |
Varex Imaging Corp | 0.23 |
Trinity Industries Inc | 0.23 |
Sunnova Energy Corp | 0.22 |
Churchill Downs Inc | 0.22 |
Lumen Technologies Inc | 0.22 |
ModivCare Inc | 0.21 |
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loy | 0.21 |
Oceaneering International Inc | 0.21 |
United States Treasury Bill | 0.21 |
USA Compression Partners LP / USA Compression Finance Corp | 0.21 |
Ally Financial Inc | 0.21 |
Vector Group Ltd | 0.21 |
Necessity Retail REIT Inc/The / American Finance Operating P | 0.21 |
United Airlines Inc | 0.20 |
G-III Apparel Group Ltd | 0.20 |
Southwestern Energy Co | 0.20 |
AG Issuer LLC | 0.20 |
SunCoke Energy Inc | 0.20 |
Kaiser Aluminum Corp | 0.19 |
United Natural Foods Inc | 0.19 |
NMI Holdings Inc | 0.19 |
Harvest Midstream I LP | 0.18 |
Ladder Capital Finance Holdings LLLP / Ladder Capital Financ | 0.18 |
Brookfield Residential Properties Inc / Brookfield Residenti | 0.18 |
1375209 BC Ltd | 0.18 |
ITT Holdings LLC | 0.18 |
Credit Acceptance Corp | 0.18 |
Berry Global Inc | 0.18 |
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issu | 0.17 |
BlueLinx Holdings Inc | 0.17 |
New Home Co Inc/The | 0.17 |
RegionalCare Hospital Partners Holdings Inc / LifePoint Heal | 0.17 |
Hanesbrands Inc | 0.17 |
Taylor Morrison Communities Inc | 0.17 |
Eco Material Technologies Inc | 0.17 |
Fortress Transportation and Infrastructure Investors LLC | 0.17 |
Qwest Corp | 0.17 |
Murphy Oil Corp | 0.17 |
Zayo Group Holdings Inc | 0.17 |
Fortrea Holdings Inc | 0.17 |
HAT Holdings I LLC / HAT Holdings II LLC | 0.17 |
WR Grace Holdings LLC | 0.17 |
HLF Financing Sarl LLC / Herbalife International Inc | 0.16 |
Edison International | 0.16 |
Prime Healthcare Services Inc | 0.16 |
Northriver Midstream Finance LP | 0.16 |
VistaJet Malta Finance PLC / Vista Management Holding Inc | 0.16 |
Vail Resorts Inc | 0.16 |
GrubHub Holdings Inc | 0.16 |
Civitas Resources Inc | 0.16 |
Shea Homes LP / Shea Homes Funding Corp | 0.16 |
Crestwood Midstream Partners LP / Crestwood Midstream Financ | 0.16 |
Ferrellgas LP / Ferrellgas Finance Corp | 0.16 |
Camelot Return Merger Sub Inc | 0.16 |
Cornerstone Building Brands Inc | 0.16 |
Dana Inc | 0.15 |
Michaels Cos Inc/The | 0.15 |
AMC Networks Inc | 0.15 |
Six Flags Theme Parks Inc | 0.15 |
Videotron Ltd | 0.15 |
Seaspan Corp | 0.15 |
JPW Industries Holding Corp | 0.15 |
Enviri Corp | 0.15 |
CrownRock LP / CrownRock Finance Inc | 0.14 |
Encino Acquisition Partners Holdings LLC | 0.14 |
Titan International Inc | 0.14 |
CoreLogic Inc | 0.14 |
Xerox Corp | 0.14 |
Evergreen Acqco 1 LP / TVI Inc | 0.14 |
Elanco Animal Health Inc | 0.14 |
McAfee Corp | 0.13 |
Urban One Inc | 0.13 |
Millennium Escrow Corp | 0.13 |
Valaris Ltd | 0.13 |
AmeriGas Partners LP / AmeriGas Finance Corp | 0.13 |
Mohegan Tribal Gaming Authority | 0.13 |
CD&R Smokey Buyer Inc | 0.13 |
Blue Racer Midstream LLC / Blue Racer Finance Corp | 0.13 |
Brightsphere Investment Group Inc | 0.13 |
Sizzling Platter LLC / Sizzling Platter Finance Corp | 0.12 |
Gen Digital Inc | 0.12 |
Air Canada | 0.12 |
Univision Communications Inc | 0.11 |
Foot Locker Inc | 0.11 |
Five Point Operating Co LP / Five Point Capital Corp | 0.11 |
Cedar Fair LP / Canada's Wonderland Co / Magnum Management C | 0.11 |
Sirius XM Radio Inc | 0.11 |
CNX Resources Corp | 0.11 |
Gannett Holdings LLC | 0.10 |
Victoria's Secret & Co | 0.10 |
Nabors Industries Inc | 0.10 |
Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc | 0.10 |
Photo Holdings Merger Sub Inc | 0.10 |
Coty Inc | 0.10 |
Consolidated Communications Inc | 0.10 |
Intelligent Packaging Ltd Finco Inc / Intelligent Packaging | 0.10 |
Midland Cogeneration Venture LP | 0.10 |
Manitowoc Co Inc/The | 0.09 |
Crown Americas LLC / Crown Americas Capital Corp VI | 0.09 |
Trinseo Materials Operating SCA / Trinseo Materials Finance | 0.09 |
Lions Gate Capital Holdings LLC | 0.09 |
Cogent Communications Group Inc | 0.09 |
Block Inc | 0.09 |
CommScope Technologies LLC | 0.09 |
Unisys Corp | 0.09 |
Sonic Automotive Inc | 0.09 |
Clarios Global LP / Clarios US Finance Co | 0.09 |
Strathcona Resources Ltd/Alberta | 0.08 |
PBF Holding Co LLC / PBF Finance Corp | 0.08 |
Cumulus Media New Holdings Inc | 0.06 |
Stericycle Inc | 0.06 |
StoneX Group Inc | 0.06 |
Liberty Interactive LLC | 0.06 |
P&L Development LLC / PLD Finance Corp | 0.06 |
TripAdvisor Inc | 0.06 |
TreeHouse Foods Inc | 0.05 |
Radiate Holdco LLC / Radiate Finance Inc | 0.05 |
Ligado Networks LLC | 0.04 |
Global Medical Response Inc | 0.02 |
Endo Dac / Endo Finance LLC / Endo Finco Inc | 0.01 |
Diamond Sports Group LLC / Diamond Sports Finance Co | 0.01 |
CBOT 2 Year US Treasury Note Future | - |
A negative in Cash or Other, as of the date shown, is normally due to fund activity that has accrued or is pending settlement.
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 |
---|---|---|---|---|---|---|---|---|
09/18/2023 | 09/19/2023 | 09/22/2023 | 0.12687 | 0.12687 | - | - | - | - |
08/21/2023 | 08/22/2023 | 08/25/2023 | 0.13037 | 0.13037 | - | - | - | - |
07/24/2023 | 07/25/2023 | 07/28/0203 | 0.12919 | 0.12919 | - | - | - | - |
06/20/2023 | 06/21/2023 | 06/23/2023 | 0.12469 | 0.12469 | - | - | - | - |
05/22/2023 | 05/23/2023 | 05/26/2023 | 0.12938 | 0.12938 | - | - | - | - |
04/24/2023 | 04/25/2023 | 04/28/2023 | 0.12166 | 0.12166 | - | - | - | - |
03/20/2023 | 03/21/2023 | 03/24/2023 | 0.12665 | 0.12665 | - | - | - | - |
02/21/2023 | 02/22/2023 | 02/24/2023 | 0.10860 | 0.10860 | - | - | - | - |
01/23/2023 | 01/24/2023 | 01/27/2023 | 0.12180 | 0.12180 | - | - | - | - |
12/19/2022 | 12/20/2022 | 12/23/2022 | 0.13956 | 0.13956 | - | - | - | - |
11/21/2022 | 11/22/2022 | 11/25/2022 | 0.11434 | 0.11434 | - | - | - | - |
10/24/2022 | 10/25/2022 | 10/28/2022 | 0.11986 | 0.11986 | - | - | - | - |
09/19/2022 | 09/20/2022 | 09/23/2022 | 0.11410 | 0.11410 | - | - | - | - |
08/22/2022 | 08/23/2022 | 08/26/2022 | 0.11491 | 0.11491 | - | - | - | - |
07/18/2022 | 07/19/2022 | 07/22/2022 | 0.10872 | 0.10872 | - | - | - | - |
06/21/2022 | 06/22/2022 | 06/30/2022 | 0.10431 | 0.10431 | - | - | - | - |
05/23/2022 | 05/24/2022 | 05/31/2022 | 0.10589 | 0.10589 | - | - | - | - |
04/18/2022 | 04/19/2022 | 04/29/2022 | 0.09790 | 0.09790 | - | - | - | - |
03/21/2022 | 03/22/2022 | 03/31/2022 | 0.09836 | 0.09836 | - | - | - | - |
02/22/2022 | 02/23/2022 | 02/28/2022 | 0.08549 | 0.08549 | - | - | - | - |
01/24/2022 | 01/25/2022 | 01/31/2022 | 0.09338 | 0.09338 | - | - | - | - |
12/20/2021 | 12/21/2021 | 12/31/2021 | 0.19859 | 0.08816 | 0.11043 | - | - | - |
11/22/2021 | 11/23/2021 | 11/30/2021 | 0.08935 | 0.08935 | - | - | - | - |
10/18/2021 | 10/19/2021 | 10/29/2021 | 0.09371 | 0.09371 | - | - | - | - |
09/20/2021 | 09/21/2021 | 09/30/2021 | 0.09211 | 0.09211 | - | - | - | - |
08/23/2021 | 08/24/2021 | 08/31/2021 | 0.09434 | 0.09434 | - | - | - | - |
07/19/2021 | 07/20/2021 | 07/30/2021 | 0.09477 | 0.09477 | - | - | - | - |
06/21/2021 | 06/22/2021 | 06/30/2021 | 0.09387 | 0.09387 | - | - | - | - |
05/24/2021 | 05/25/2021 | 05/28/2021 | 0.09508 | 0.09508 | - | - | - | - |
04/19/2021 | 04/20/2021 | 04/30/2021 | 0.08624 | 0.08624 | - | - | - | - |
03/22/2021 | 03/23/2021 | 03/31/2021 | 0.10074 | 0.10074 | - | - | - | - |
02/22/2021 | 02/23/2021 | 02/26/2021 | 0.09456 | 0.09456 | - | - | - | - |
01/19/2021 | 01/20/2021 | 01/29/2021 | 0.10139 | 0.10139 | - | - | - | - |
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% |
06/30/2023 | 62 | 29 | 18 | 2 | 0 | 0 | 0 |
03/31/2023 | 62 | 22 | 27 | 9 | 0 | 0 | 0 |
12/31/2022 | 63 | 36 | 19 | 4 | 0 | 0 | 0 |
09/30/2022 | 64 | 12 | 32 | 13 | 1 | 0 | 0 |
Year Ended 2022 | 251 | 106 | 89 | 23 | 1 | 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% |
06/30/2023 | 62 | 13 | 0 | 0 | 0 | 0 | 0 |
03/31/2023 | 62 | 3 | 1 | 0 | 0 | 0 | 0 |
12/31/2022 | 63 | 2 | 2 | 0 | 0 | 0 | 0 |
09/30/2022 | 64 | 5 | 1 | 0 | 0 | 0 | 0 |
Year Ended 2022 | 251 | 29 | 3 | 0 | 0 | 0 | 0 |
Fund Inception : 12/02/2020
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. Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Actively managed ETFs are subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. The Fund's return may not match the return of the 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.
Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. An issuer may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer’s credit rating. The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.
Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested.
Active trading results in added expenses and may result in a lower return and increased tax liability.
The investment techniques and risk analysis used by the portfolio managers may not produce the desired results.
The Fund’s income may decline when interest rates fall if it holds a significant portion of short duration securities and/or securities with floating or variable interest rates. If the Fund invests in lower yielding bonds, as the bond’s portfolio mature; the Fund will need to purchase additional bonds, thereby reducing its income.
The Fund may hold illiquid securities that it may be unable to sell at the preferred time or price and could lose its entire investment in such securities.
Obligations issued by US Government agencies and instrumentalities may receive varying levels of support from the government, which could affect the fund’s ability to recover should they default.
Investing in restricted securities, including 144A securities which are restricted (i.e. not publicly traded). The liquidity market for Rule 144A securities may vary, as a result, delay or difficulty in selling such securities may result in a loss to the Fund.
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.
Factor investing is an investment strategy in which securities are chosen based on certain characteristics and attributes that may explain differences in returns. Factor investing represents an alternative and selection index based methodology that seeks to outperform a benchmark or reduce portfolio risk, both in active or passive vehicles. There can be no assurance that performance will be enhanced or risk will be reduced for strategies that seek to provide exposure to certain factors. Exposure to such investment factors may detract from performance in some market environments, perhaps for extended periods. Factor investing may underperform cap-weighted benchmarks and increase portfolio risk. There is no assurance that the investment strategies discussed in this material will achieve their investment objectives.
Bloomberg US Corp High Yield 2% Issuer Capped Index is an unmanaged index considered representative of the US high-yield, fixed-rate corporate bond market. Index weights for each issuer are capped at 2%.