Fixed Income | US Fixed Income

Invesco Investment Grade Defensive ETF

Ticker: IIGD

Product Details

The Invesco Investment Grade Defensive ETF (Fund) is based on the Invesco Investment Grade Defensive Index (Index). The Fund generally will invest at least 80% of its total assets in securities that comprise the Index, which is designed to provide exposure to U.S. investment grade bonds with relatively higher-quality characteristics, including higher credit ratings and shorter maturities. All eligible bonds are assigned a quality score, which is calculated based on the bond’s maturity and credit rating. The Fund does not purchase all the securities in the Index; instead, it utilizes a “sampling” methodology to seek to achieve its investment objective. The Fund and the index are rebalanced monthly.

as of 10/31/2022 09/30/2022

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Invesco Investment Grade Defensive Index -8.97 -9.20 -1.30 N/A N/A 1.11
iBoxx USD Liquid Investment Grade Index -22.00 -22.04 -4.85 -0.50 1.50 0.00
Fund History (%)
Fund NAV -9.18 -9.40 -1.53 N/A N/A 0.92
After Tax Held -9.65 -10.09 -2.37 N/A N/A -0.04
After Tax Sold -5.43 -5.46 -1.45 N/A N/A 0.35
Fund Market Price -9.22 -9.47 -1.61 N/A N/A 0.93
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Invesco Investment Grade Defensive Index -8.70 -9.44 -1.03 N/A N/A 1.20
iBoxx USD Liquid Investment Grade Index -21.20 -20.97 -4.33 -0.22 1.72 0.24
Fund History (%)
Fund NAV -8.83 -9.56 -1.24 N/A N/A 1.03
After Tax Held -9.24 -10.21 -2.09 N/A N/A 0.07
After Tax Sold -5.22 -5.55 -1.24 N/A N/A 0.43
Fund Market Price -8.95 -9.67 -1.40 N/A N/A 1.02

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. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

as of 09/30/2022

Growth of $10,000

Data beginning Fund inception and ending 09/30/2022. 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 11/30/2022

Sector Allocation

Sector Percent of Fund
Financials 36.94%
Information Technology 10.37%
Industrials 9.61%
Health Care 9.59%
Utilities 8.13%
Consumer Discretionary 6.73%
Energy 5.93%
Consumer Staples 5.20%
Real Estate 2.97%
Communication Services 2.24%
Materials 2.20%
Investment Companies 0.10%

Quality Allocations as of 11/30/2022

S&P Moody's
AAA : 1% Aaa : 4%
AA : 21% Aa : 19%
A : 58% A : 58%
BBB : 20% Baa : 18%
Not Rated : 0% Not Rated : 1%

Cash is excluded from the credit rating quality allocations table.

as of 11/30/2022

Maturity

Years % of Fund
0 - 1 years 0.10
1 - 5 years 82.84
5 - 10 years 17.06
10 - 15 years 0.00
15 - 20 years 0.00
20 - 25 years 0.00
25 years and over 0.00

as of 11/30/2022 Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
Chubb INA Holdings Inc 3.35% 05/03/2026 02/03/2026 A/A3 0.82%
Eli Lilly & Co 3.38% 03/15/2029 12/15/2028 A+/A2 0.81%
Truist Financial Corp 1.20% 08/05/2025 07/03/2025 A-/A3 0.81%
TJX Cos Inc/The 2.25% 09/15/2026 06/15/2026 A/A2 0.81%
Goldman Sachs Group Inc/The 3.50% 04/01/2025 03/01/2025 BBB+/A2 0.81%
Cintas Corp No 2 3.70% 04/01/2027 01/01/2027 A-/A3 0.81%
US Bancorp 1.45% 05/12/2025 04/11/2025 A+/A2 0.80%
MidAmerican Energy Co 3.65% 04/15/2029 01/15/2029 A+/Aa2 0.80%
Bank of New York Mellon Corp/The 1.60% 04/24/2025 03/24/2025 A/A1 0.80%
NIKE Inc 2.85% 03/27/2030 12/27/2029 AA-/A1 0.80%

Holdings are subject to change and are not buy/sell recommendations.

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
11/21/2022 11/22/2022 11/25/2022 0.04477 0.04477 - - - -
10/24/2022 10/25/2022 10/28/2022 0.03919 0.03919 - - - -
09/19/2022 09/20/2022 09/23/2022 0.03701 0.03701 - - - -
08/22/2022 08/23/2022 08/26/2022 0.03838 0.03838 - - - -
07/18/2022 07/19/2022 07/22/2022 0.03622 0.03622 - - - -
06/21/2022 06/22/2022 06/30/2022 0.03229 0.03229 - - - -
05/23/2022 05/24/2022 05/31/2022 0.02856 0.02856 - - - -
04/18/2022 04/19/2022 04/29/2022 0.02516 0.02516 - - - -
03/21/2022 03/22/2022 03/31/2022 0.02478 0.02478 - - - -
02/22/2022 02/23/2022 02/28/2022 0.02174 0.02174 - - - -
01/24/2022 01/25/2022 01/31/2022 0.02303 0.02303 - - - -
12/20/2021 12/21/2021 12/31/2021 0.19255 0.02193 0.03657 0.13405 - -
11/22/2021 11/23/2021 11/30/2021 0.02179 0.02179 - - - -
10/18/2021 10/19/2021 10/29/2021 0.02269 0.02269 - - - -
09/20/2021 09/21/2021 09/30/2021 0.02220 0.02220 - - - -
08/23/2021 08/24/2021 08/31/2021 0.02097 0.02097 - - - -
07/19/2021 07/20/2021 07/30/2021 0.02532 0.02532 - - - -
06/21/2021 06/22/2021 06/30/2021 0.02586 0.02586 - - - -
05/24/2021 05/25/2021 05/28/2021 0.02603 0.02603 - - - -
04/19/2021 04/20/2021 04/30/2021 0.02567 0.02567 - - - -
03/22/2021 03/23/2021 03/31/2021 0.02731 0.02731 - - - -
02/22/2021 02/23/2021 02/26/2021 0.02488 0.02488 - - - -
01/19/2021 01/20/2021 01/29/2021 0.02868 0.02868 - - - -
12/21/2020 12/22/2020 12/31/2020 0.43273 0.02667 0.30303 0.10303 - -
11/23/2020 11/24/2020 11/30/2020 0.03058 0.03058 - - - -
10/19/2020 10/20/2020 10/30/2020 0.03398 0.03398 - - - -
09/21/2020 09/22/2020 09/30/2020 0.03364 0.03364 - - - -
08/24/2020 08/25/2020 08/31/2020 0.03349 0.03349 - - - -
07/20/2020 07/21/2020 07/31/2020 0.03726 0.03726 - - - -
06/22/2020 06/23/2020 06/30/2020 0.03863 0.03863 - - - -
05/18/2020 05/19/2020 05/29/2020 0.04351 0.04351 - - - -
04/20/2020 04/21/2020 04/30/2020 0.04447 0.04447 - - - -
03/23/2020 03/24/2020 03/31/2020 0.04652 0.04652 - - - -
02/24/2020 02/25/2020 02/28/2020 0.04508 0.04508 - - - -
01/21/2020 01/22/2020 01/31/2020 0.04806 0.04806 - - - -
12/23/2019 12/24/2019 12/31/2019 0.06962 0.04744 0.02088 0.00130 - -
11/18/2019 11/19/2019 11/29/2019 0.04709 0.04709 - - - -
10/21/2019 10/22/2019 10/31/2019 0.05073 0.05073 - - - -
09/23/2019 09/24/2019 09/30/2019 0.04792 0.04792 - - - -
08/19/2019 08/20/2019 08/30/2019 0.04918 0.04918 - - - -
07/22/2019 07/23/2019 07/31/2019 0.06077 0.06077 - - - -
06/24/2019 06/25/2019 06/28/2019 0.05868 0.05868 - - - -
05/20/2019 05/21/2019 05/31/2019 0.04142 0.04142 - - - -
04/22/2019 04/23/2019 04/30/2019 0.06571 0.06571 - - - -
03/18/2019 03/19/2019 03/29/2019 0.06846 0.06846 - - - -
02/19/2019 02/20/2019 02/28/2019 0.06144 - - - - -
01/22/2019 01/23/2019 01/31/2019 0.06828 0.06828 - - - -
12/26/2018 12/27/2018 12/31/2018 - - 0.00807 - - -
12/24/2018 12/26/2018 12/31/2018 0.10244 0.10244 - - - -
11/19/2018 11/20/2018 11/30/2018 0.06539 0.06539 - - - -
10/22/2018 10/23/2018 10/31/2018 0.05882 0.05882 - - - -
09/24/2018 09/25/2018 09/28/2018 0.07464 0.07464 - - - -
08/20/2018 08/21/2018 08/31/2018 0.04692 0.04692 - - - -

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%
09/30/2022 64 35 5 0 0 0 0
06/30/2022 62 27 2 0 0 0 0
03/31/2022 62 17 1 0 0 0 0
12/31/2021 64 24 0 0 0 0 0
Year Ended 2021 252 125 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%
09/30/2022 64 23 1 0 0 0 0
06/30/2022 62 29 4 0 0 0 0
03/31/2022 62 41 2 1 0 0 0
12/31/2021 64 40 0 0 0 0 0
Year Ended 2021 252 127 0 0 0 0 0

Fund Inception : 07/25/2018

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

† 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.

Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.

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.

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 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.

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.

The Fund may invest in privately issued 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.

Reinvestment risk is the risk that a bond's cash flows (coupon income and principal repayment) will be reinvested at an interest rate below that on the original bond.

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.

The Invesco Investment Grade Defensive Index is a trademark of Invesco Indexing LLC (index provider) and has been licensed for use by Invesco Capital Management LLC (investment adviser). Invesco Indexing LLC, Invesco Capital Management LLC, and Invesco Distributors, Inc. (ETF distributor) are wholly owned, indirect subsidiaries of Invesco Ltd.

The iBoxx USD Liquid Investment Grade Index is designed to provide a balanced representation of the USD investment grade corporate market.