August 17, 2020 was the final day of trading for the Invesco RAFI™ Strategic Developed ex-US Small Company ETF (Nasdaq: ISDS) and is no longer offered for sale. Shareholders, who did not sell their holdings prior to this date, will receive $21.82741 per share, representing return of capital, in the cash portion of their brokerage accounts on or about Aug. 24, 2020. For additional information, shareholders may call Invesco at 800.983.0903. This information does not constitute an offer to sell or a solicitation of an offer to buy units of the Fund.
The Invesco RAFITM Strategic Developed ex-US Small Company ETF (the "Fund") is based on the Invesco Strategic Developed ex-US Small Company Index (the "Index"). The Fund will normally invest at least 80% of its total assets in securities, American depositary receipts (ADRs) and global depositary receipts (GDRs) that comprise the Index. The Index is designed to measure the performance of high quality, small-sized developed market companies, excluding the US. The eligible equity securities are assigned a business-size score based on the equally-weighted average of sales, operating cash flow, total return of capital and book value over the prior five years or life of the security. For real estate securities, operating cash flow is replaced by funds from operations and book value is replaced by total assets. The securities are then assigned a quality score based on the equally-weighted average of efficiency (ratio of sales-to-assets in the prior year) and growth (percentage change in ratio of sales-to-assets over the prior five years or life of the security). Finally, each eligible security is ranked in descending order by its Business-Size score. For inclusion in the index, securities ranked in the top 90% by Business-Size score are eligible and, of those 80% with the highest Quality score. Securities in the Index are weighted based on their float-adjusted Business-Size scores. The Fund and the Index are reconstituted annually.
Effective at the close of markets on Friday, March 15, 2019, the Fund's name changed. Please see the Fund's prospectus for further information.
|Index History (%)||YTD||1Yr||3Yr||5Yr||10Yr||Since Inception|
|Invesco Strategic Developed ex-US Small Company Index||-12.94||-3.37||N/A||N/A||N/A||-5.71|
|MSCI EAFE Small Cap Index||-10.19||0.43||0.45||4.32||7.48||-2.31|
|Fund History (%)|
|After Tax Held||-14.21||-5.06||N/A||N/A||N/A||-6.70|
|After Tax Sold||-8.19||-2.38||N/A||N/A||N/A||-4.76|
|Fund Market Price||-13.65||-3.93||N/A||N/A||N/A||-6.49|
|Index History (%)||YTD||1Yr||3Yr||5Yr||10Yr||Since Inception|
|Invesco Strategic Developed ex-US Small Company Index||-14.87||-7.42||N/A||N/A||N/A||-7.13|
|MSCI EAFE Small Cap Index||-13.11||-3.52||0.53||3.81||8.02||-4.20|
|Fund History (%)|
|After Tax Held||-16.07||-9.07||N/A||N/A||N/A||-8.12|
|After Tax Sold||-9.29||-4.77||N/A||N/A||N/A||-5.82|
|Fund Market Price||-15.08||-8.16||N/A||N/A||N/A||-7.64|
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.
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.
|Sector||Percent of Fund|
Top Country Allocation
Market Cap & Style Allocations
as of 08/21/2020 Top Holdings | View All
Fund Holdings subject to change
|Ticker||Company||% of Fund|
|AGT SP||Accordia Golf Trust||100.00|
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.
The Fund is non-diversified and may experience greater volatility than a more diversified investment.
Investments focused in a particular sector, such as industrials, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
Depositary receipts involve many of the same risks as a direct investment in foreign securities, and issuers of certain depositary receipts are under no obligation to distribute shareholder communications to the holders or to pass through to them any voting rights with respect to the deposited securities. The risks of investing in securities of foreign 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.
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 Japanese economy has been adversely affected by trade tariffs and competition from emerging economies, and has experienced the effects of the economic slowdown in the United States and Europe. Japan's economy also faces several other concerns, including a financial system with large levels of nonperforming loans, over-leveraged corporate balance sheets, a changing corporate governance structure and large government deficits, which may cause a continued slowdown.
REITs are subject to additional risks than general real estate investments. The value of a REIT can depend on the structure and cash flow generated by the REIT. 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.
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 Invesco Strategic Developed ex-US Small Company 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.
Beta is a measure of risk representing how a security is expected to respond to general market movements. Smart Beta represents an alternative and selection index based methodology that seeks to outperform a benchmark or reduce portfolio risk, or both. Smart beta funds may underperform cap-weighted benchmarks and increase portfolio risk.