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Fixed Income | US Fixed Income

Invesco Investment Grade Value ETF

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  • Invesco S&P 500 Equal Weight Communication Services ETF
  • Invesco S&P 500 Equal Weight Consumer Discretionary ETF
  • Invesco S&P 500 Equal Weight Consumer Staples ETF
  • Invesco S&P 500 Equal Weight ETF
  • Invesco S&P 500 Equal Weight Energy ETF
  • Invesco S&P 500 Equal Weight Financials ETF
  • Invesco S&P 500 Equal Weight Health Care ETF
  • Invesco S&P 500 Equal Weight Industrials ETF
  • Invesco S&P 500 Equal Weight Materials ETF
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  • Invesco S&P MidCap 400 Pure Growth ETF
  • Invesco S&P MidCap 400 Pure Value ETF
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  • Invesco S&P SmallCap 600 Revenue ETF
  • Invesco S&P SmallCap Consumer Discretionary ETF
  • Invesco S&P SmallCap Consumer Staples ETF
  • Invesco S&P SmallCap Energy ETF
  • Invesco S&P SmallCap Financials ETF
  • Invesco S&P SmallCap Health Care ETF
  • Invesco S&P SmallCap High Dividend Low Volatility ETF
  • Invesco S&P SmallCap Industrials ETF
  • Invesco S&P SmallCap Information Technology ETF
  • Invesco S&P SmallCap Low Volatility ETF
  • Invesco S&P SmallCap Materials ETF
  • Invesco S&P SmallCap Momentum ETF
  • Invesco S&P SmallCap Quality ETF
  • Invesco S&P SmallCap Utilities & Communication Services ETF
  • Invesco S&P SmallCap Value with Momentum ETF
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  • Invesco Taxable Municipal Bond ETF
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  • Invesco Treasury Collateral ETF
  • Invesco Ultra Short Duration ETF
  • Invesco VRDO Tax-Free Weekly ETF
  • Invesco Variable Rate Investment Grade ETF
  • Invesco Variable Rate Preferred ETF
  • Invesco Water Resources ETF
  • Invesco WilderHill Clean Energy ETF
  • Invesco Zacks Mid-Cap ETF
  • Invesco Zacks Multi-Asset Income ETF

Product Details

The Invesco Investment Grade Value ETF (Fund) is based on the Invesco Investment Grade Value 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 higher value, U.S. investment grade bonds. Higher value bonds are characterized as those with higher yields that may provide greater returns in certain markets. In addition, the Index seeks to incorporate securities with relatively higher-quality characteristics, including higher credit ratings and shorter maturities. All eligible bonds are assigned a quality adjusted value (QAV) score, which is calculated based on a combination of value and quality factors or characteristics. The QAV score is calculated as a weighted-average combination of the Value Score (90%) and the Quality Score (10%). 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 07/31/2020 06/30/2020

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Invesco Investment Grade Value Index 8.08 11.45 N/A N/A N/A 11.25
iBoxx USD Liquid Investment Grade Index 9.93 14.55 8.21 7.21 6.30 13.26
Fund History (%)
Fund NAV 6.87 9.98 N/A N/A N/A 10.16
After Tax Held 6.18 8.51 N/A N/A N/A 8.59
After Tax Sold 4.04 5.87 N/A N/A N/A 7.10
Fund Market Price 6.78 10.17 N/A N/A N/A 10.27
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Invesco Investment Grade Value Index 5.65 9.56 N/A N/A N/A 10.46
iBoxx USD Liquid Investment Grade Index 6.12 11.17 7.22 6.59 6.14 11.82
Fund History (%)
Fund NAV 4.62 8.24 N/A N/A N/A 9.41
After Tax Held 4.03 6.77 N/A N/A N/A 7.83
After Tax Sold 2.71 4.85 N/A N/A N/A 6.52
Fund Market Price 4.68 8.50 N/A N/A N/A 9.61

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 06/30/2020

Growth of $10,000

Data beginning Fund inception and ending 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.

as of 08/10/2020

Sector Allocation

Sector Percent of Fund
Financials 23.88%
Health Care 11.53%
Industrials 10.71%
Utilities 10.28%
Energy 9.82%
Real Estate 7.29%
Consumer Staples 7.25%
Information Technology 7.01%
Consumer Discretionary 6.49%
Materials 3.56%
Communication Services 1.85%
Investment Companies 0.32%

Quality Allocations as of 08/10/2020

S&P Moody's
AAA : 0% Aaa : 1%
AA : 8% Aa : 8%
A : 41% A : 31%
BBB : 51% Baa : 57%
Not Rated : 0% Not Rated : 4%

Cash is excluded from the credit rating quality allocations table.

as of 08/10/2020

Maturity

Years % of Fund
0 - 1 years 0.32
1 - 5 years 17.56
5 - 10 years 82.12
10 - 15 years 0.00
15 - 20 years 0.00
20 - 25 years 0.00
25 years and over 0.00

as of 08/10/2020 Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
MPLX LP 4.12% 03/01/2027 12/01/2026 BBB/Baa2 1.30%
Cintas Corp No 2 3.70% 04/01/2027 01/01/2027 A-/A3 1.15%
Brighthouse Financial Inc 3.70% 06/22/2027 03/22/2027 BBB+/Baa3 1.08%
Boston Properties LP 3.85% 02/01/2023 11/01/2022 BBB+/Baa1 1.07%
Duke Energy Carolinas LLC 3.95% 11/15/2028 08/15/2028 A/Aa2 1.04%
Cigna Corp 4.38% 10/15/2028 07/15/2028 A-/Baa2 1.03%
Keysight Technologies Inc 4.60% 04/06/2027 01/06/2027 BBB/Baa2 1.01%
Morgan Stanley 3.88% 01/27/2026 N/A BBB+/A3 0.98%
TD Ameritrade Holding Corp 3.30% 04/01/2027 01/01/2027 A/A2 0.98%
Jefferies Group LLC / Jefferies Group Capital Finance Inc 4.15% 01/23/2030 N/A BBB/Baa3 0.96%

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
07/20/2020 07/21/2020 07/31/2020 0.06028 0.06028 - - - -
06/22/2020 06/23/2020 06/30/2020 0.05647 0.05647 - - - -
05/18/2020 05/19/2020 05/29/2020 0.06424 0.06424 - - - -
04/20/2020 04/21/2020 04/30/2020 0.06243 0.06243 - - - -
03/23/2020 03/24/2020 03/31/2020 0.06203 0.06203 - - - -
02/24/2020 02/25/2020 02/28/2020 0.05800 0.05800 - - - -
01/21/2020 01/22/2020 01/31/2020 0.06226 0.06226 - - - -
12/23/2019 12/24/2019 12/31/2019 0.21793 0.06173 0.12453 0.03167 - -
11/18/2019 11/19/2019 11/29/2019 0.06173 0.06173 - - - -
10/21/2019 10/22/2019 10/31/2019 0.06547 0.06547 - - - -
09/23/2019 09/24/2019 09/30/2019 0.06323 0.06323 - - - -
08/19/2019 08/20/2019 08/30/2019 0.06514 0.06514 - - - -
07/22/2019 07/23/2019 07/31/2019 0.07470 0.07470 - - - -
06/24/2019 06/25/2019 06/28/2019 0.07085 0.07085 - - - -
05/20/2019 05/21/2019 05/31/2019 0.05875 0.05875 - - - -
04/22/2019 04/23/2019 04/30/2019 0.08077 0.08077 - - - -
03/18/2019 03/19/2019 03/29/2019 0.08325 0.08325 - - - -
02/19/2019 02/20/2019 02/28/2019 0.07387 - - - - -
01/22/2019 01/23/2019 01/31/2019 0.08238 0.08238 - - - -
12/26/2018 12/27/2018 12/31/2018 - - 0.02498 - - -
12/24/2018 12/26/2018 12/31/2018 0.12272 0.12272 - - - -
11/19/2018 11/20/2018 11/30/2018 0.07841 0.07841 - - - -
10/22/2018 10/23/2018 10/31/2018 0.07039 0.07039 - - - -
09/24/2018 09/25/2018 09/28/2018 0.08898 0.08898 - - - -
08/20/2018 08/21/2018 08/31/2018 0.05603 0.05603 - - - -

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 14 24 13 3 1 0
03/31/2020 62 15 26 4 0 3 0
12/31/2019 64 39 19 1 0 0 0
09/30/2019 64 37 23 1 0 0 0
Year Ended 2019 252 153 81 2 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 6 1 1 0 0 0
03/31/2020 62 2 1 3 2 1 5
12/31/2019 64 5 0 0 0 0 0
09/30/2019 64 2 1 0 0 0 0
Year Ended 2019 252 13 3 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.

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.

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 Fund is non-diversified and may experience greater volatility than a more diversified investment.

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.

The Invesco Investment Grade Value 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.