Product Details
The Invesco S&P 500 BuyWrite ETF (Fund) is based on the CBOE S&P 500 BuyWrite Index™ (Index). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index and will write (sell) call options thereon. The Index is a total return benchmark index that is designed to track the performance of a hypothetical "buy-write" strategy on the S&P 500® Index. The Index measures the total rate of return of an S&P 500 covered call strategy. This strategy consists of holding a long position indexed to the S&P 500 Index and selling a succession of covered call options, each with an exercise price at or above the prevailing price level of the S&P 500 Index. Dividends paid on the component stocks underlying the S&P 500 Index and the dollar value of option premiums received from written options are reinvested. The Fund and the Index are rebalanced and reconstituted monthly.
Performance
Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
---|---|---|---|---|---|---|
CBOE S&P 500 BuyWrite Price Return Index (USD) | 10.28 | 10.04 | 8.18 | 3.40 | 6.24 | 4.65 |
S&P 500 Index | 18.73 | 15.94 | 10.52 | 11.12 | 12.81 | 9.63 |
Fund History (%) | ||||||
Fund NAV | 9.91 | 9.60 | 7.64 | 2.90 | 5.58 | 3.92 |
After Tax Held | 9.63 | 9.04 | 6.36 | 1.52 | 3.61 | 2.09 |
After Tax Sold | 5.86 | 5.66 | 5.36 | 1.63 | 3.43 | 2.19 |
Fund Market Price | 9.70 | 9.29 | 7.82 | 2.89 | 5.59 | 3.91 |
Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
---|---|---|---|---|---|---|
CBOE S&P 500 BuyWrite Price Return Index (USD) | 10.47 | 9.02 | 10.56 | 4.42 | 6.26 | 4.71 |
S&P 500 Index | 16.89 | 19.59 | 14.60 | 12.31 | 12.86 | 9.63 |
Fund History (%) | ||||||
Fund NAV | 10.21 | 8.62 | 10.01 | 3.93 | 5.60 | 3.98 |
After Tax Held | 9.93 | 8.06 | 8.70 | 2.54 | 3.63 | 2.13 |
After Tax Sold | 6.04 | 5.08 | 7.21 | 2.43 | 3.45 | 2.23 |
Fund Market Price | 10.15 | 8.77 | 10.10 | 3.90 | 5.62 | 3.98 |
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 06/30/2023. 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.
Sector Allocation
Sector | Percent of Fund |
---|---|
Information Technology | 27.40% |
Health Care | 13.47% |
Financials | 12.97% |
Consumer Discretionary | 10.67% |
Communication Services | 8.84% |
Industrials | 8.31% |
Consumer Staples | 6.69% |
Energy | 4.62% |
Utilities | 2.59% |
Materials | 2.44% |
Real Estate | 2.40% |
Market Cap & Style Allocations
Large-Cap Value | 16.00% |
Large-Cap Blend | 32.93% |
Large-Cap Growth | 33.81% |
Mid-Cap Value | 5.58% |
Mid-Cap Blend | 8.35% |
Mid-Cap Growth | 3.07% |
Small-Cap Value | 0.17% |
Small-Cap Blend | 0.08% |
Small-Cap Growth | - |
as of 09/22/2023 Top Holdings | View All
Fund Holdings subject to change
Ticker | Company | % of Fund |
---|---|---|
AAPL | Apple Inc | 7.13 |
MSFT | Microsoft Corp | 6.53 |
AMZN | Amazon.com Inc | 3.25 |
NVDA | NVIDIA Corp | 2.85 |
GOOGL | Alphabet Inc | 2.14 |
TSLA | Tesla Inc | 1.88 |
META | Meta Platforms Inc | 1.84 |
GOOG | Alphabet Inc | 1.84 |
BRK/B | Berkshire Hathaway Inc | 1.82 |
UNH | UnitedHealth Group Inc | 1.30 |
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 | 0.06001 | 0.06001 | - | - | - | - |
06/20/2023 | 06/21/2023 | 06/23/2023 | 0.06116 | 0.06116 | - | - | - | - |
03/20/2023 | 03/21/2023 | 03/24/2023 | 0.06988 | 0.06988 | - | - | - | - |
12/19/2022 | 12/20/2022 | 12/23/2022 | 0.06487 | 0.06487 | - | - | - | - |
09/19/2022 | 09/20/2022 | 09/23/2022 | 0.06750 | 0.06750 | - | - | - | - |
06/21/2022 | 06/22/2022 | 06/30/2022 | 0.06558 | 0.06558 | - | - | - | - |
03/21/2022 | 03/22/2022 | 03/31/2022 | 0.06981 | 0.06981 | - | - | - | - |
12/20/2021 | 12/21/2021 | 12/31/2021 | 1.27932 | 0.03879 | 1.24053 | - | - | - |
09/20/2021 | 09/21/2021 | 09/30/2021 | 0.06062 | 0.06062 | - | - | - | - |
06/21/2021 | 06/22/2021 | 06/30/2021 | 0.06704 | 0.06704 | - | - | - | - |
03/22/2021 | 03/23/2021 | 03/31/2021 | 0.02926 | 0.02926 | - | - | - | - |
12/21/2020 | 12/22/2020 | 12/31/2020 | 0.08982 | 0.08982 | - | - | - | - |
09/21/2020 | 09/22/2020 | 09/30/2020 | 0.05941 | 0.05941 | - | - | - | - |
06/22/2020 | 06/23/2020 | 06/30/2020 | 0.05808 | 0.05808 | - | - | - | - |
03/23/2020 | 03/24/2020 | 03/31/2020 | 0.08244 | 0.08244 | - | - | - | - |
12/23/2019 | 12/24/2019 | 12/31/2019 | 0.96030 | 0.09908 | 0.75511 | 0.10611 | - | - |
09/23/2019 | 09/24/2019 | 09/30/2019 | 0.09045 | 0.09045 | - | - | - | - |
06/24/2019 | 06/25/2019 | 06/28/2019 | 0.08814 | 0.08814 | - | - | - | - |
03/18/2019 | 03/19/2019 | 03/29/2019 | 0.05700 | 0.05700 | - | - | - | - |
12/26/2018 | 12/27/2018 | 12/31/2018 | - | - | 0.07644 | 0.15545 | - | - |
12/24/2018 | 12/26/2018 | 12/31/2018 | 0.08828 | 0.08828 | - | - | - | - |
09/24/2018 | 09/25/2018 | 09/28/2018 | 0.08235 | 0.08235 | - | - | - | - |
06/18/2018 | 06/19/2018 | 06/29/2018 | 0.08004 | 0.08004 | - | - | - | - |
03/19/2018 | 03/20/2018 | 03/29/2018 | 0.02878 | 0.02878 | - | - | - | - |
12/27/2017 | 12/28/2017 | 12/29/2017 | 1.27183 | 0.00000 | 1.14212 | 0.12971 | - | - |
12/18/2017 | 12/19/2017 | 12/29/2017 | 0.08510 | 0.08510 | - | - | - | - |
09/18/2017 | 09/19/2017 | 09/29/2017 | 0.50000 | 0.50000 | - | - | - | - |
06/16/2017 | 06/20/2017 | 06/30/2017 | 0.47258 | 0.47258 | - | - | - | - |
12/27/2016 | 12/29/2016 | 12/30/2016 | 0.17597 | - | 0.17597 | - | - | - |
12/16/2016 | 12/20/2016 | 12/30/2016 | 0.14385 | 0.14385 | - | - | - | - |
09/16/2016 | 09/20/2016 | 09/30/2016 | 0.07876 | 0.07876 | - | - | - | - |
06/17/2016 | 06/21/2016 | 06/30/2016 | 0.10251 | 0.10251 | - | - | - | - |
03/18/2016 | 03/22/2016 | 03/31/2016 | 0.04307 | 0.04307 | - | - | - | - |
12/24/2015 | 12/29/2015 | 12/31/2015 | 0.33882 | - | 0.28744 | 0.05138 | - | - |
12/18/2015 | 12/22/2015 | 12/31/2015 | 0.12096 | 0.12096 | - | - | - | - |
09/18/2015 | 09/22/2015 | 09/30/2015 | 0.27241 | 0.07241 | 0.20000 | - | - | - |
06/19/2015 | 06/23/2015 | 06/30/2015 | 0.30349 | 0.10349 | 0.20000 | - | - | - |
03/20/2015 | 03/24/2015 | 03/31/2015 | 0.03348 | 0.03348 | - | - | - | - |
12/24/2014 | 12/29/2014 | 12/31/2014 | 0.17224 | - | 0.17224 | - | - | - |
12/19/2014 | 12/23/2014 | 12/31/2014 | 0.08870 | 0.08870 | - | - | - | - |
09/19/2014 | 09/23/2014 | 09/30/2014 | 0.32000 | 0.32000 | - | - | - | - |
06/20/2014 | 06/24/2014 | 06/30/2014 | 0.42128 | 0.42128 | - | - | - | - |
03/21/2014 | 03/25/2014 | 03/31/2014 | 0.02544 | 0.02544 | - | - | - | - |
12/24/2013 | 12/27/2013 | 12/30/2013 | 0.00707 | 0.00707 | - | - | - | - |
12/20/2013 | 12/24/2013 | 12/31/2013 | 0.69162 | 0.69162 | - | - | - | - |
09/20/2013 | 09/24/2013 | 09/30/2013 | 0.34000 | 0.34000 | - | - | - | - |
06/21/2013 | 06/25/2013 | 06/28/2013 | 0.29660 | 0.29660 | - | - | - | - |
03/15/2013 | 03/19/2013 | 03/28/2013 | 0.03854 | 0.03854 | - | - | - | - |
12/24/2012 | 12/27/2012 | 12/31/2012 | 0.14536 | - | - | 0.14536 | - | - |
12/21/2012 | 12/26/2012 | 12/31/2012 | 0.40219 | 0.40219 | - | - | - | - |
09/21/2012 | 09/25/2012 | 09/28/2012 | 0.09000 | 0.09000 | - | - | - | - |
06/15/2012 | 06/19/2012 | 06/29/2012 | 0.12394 | 0.12394 | - | - | - | - |
03/16/2012 | 03/20/2012 | 03/30/2012 | 0.09878 | 0.09878 | - | - | - | - |
12/27/2011 | 12/29/2011 | 12/30/2011 | 0.10978 | 0.10978 | - | 0.10978 | - | - |
12/16/2011 | 12/20/2011 | 12/30/2011 | 1.83636 | - | 1.81381 | - | - | - |
09/16/2011 | 09/20/2011 | 09/30/2011 | 0.07069 | 0.07069 | - | - | - | - |
06/17/2011 | 06/21/2011 | 06/30/2011 | 0.09111 | 0.09111 | - | - | - | - |
03/18/2011 | 03/22/2011 | 03/31/2011 | 0.02735 | 0.02735 | - | - | - | - |
12/28/2010 | 12/30/2010 | 12/31/2010 | 1.35700 | - | 1.35700 | - | - | - |
12/17/2010 | 12/21/2010 | 12/31/2010 | 0.11584 | 0.11584 | - | - | - | - |
09/17/2010 | 09/21/2010 | 09/30/2010 | 0.06543 | 0.06543 | - | - | - | - |
06/18/2010 | 06/22/2010 | 06/30/2010 | 0.06145 | 0.06145 | - | - | - | - |
03/19/2010 | 03/23/2010 | 03/31/2010 | 0.05310 | 0.05310 | - | - | - | - |
12/18/2009 | 12/22/2009 | 12/31/2009 | 0.08220 | 0.08220 | - | - | - | - |
09/18/2009 | 09/22/2009 | 09/30/2009 | 0.06496 | 0.06496 | - | - | - | - |
06/19/2009 | 06/23/2009 | 06/30/2009 | 0.09002 | 0.09002 | - | - | - | - |
03/20/2009 | 03/24/2009 | 03/31/2009 | 0.09290 | 0.09290 | - | - | - | - |
12/19/2008 | 12/23/2008 | 12/31/2008 | 0.07224 | 0.07224 | - | - | - | - |
09/19/2008 | 09/23/2008 | 09/30/2008 | 0.05755 | 0.05755 | - | - | - | - |
06/20/2008 | 06/24/2008 | 06/30/2008 | 0.23778 | 0.23778 | - | - | - | - |
03/25/2008 | 03/27/2008 | 03/31/2008 | 0.05250 | 0.05250 | - | - | - | - |
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 | 0 | 0 | 0 | 0 | 0 |
03/31/2023 | 62 | 13 | 0 | 0 | 0 | 0 | 0 |
12/31/2022 | 63 | 14 | 0 | 0 | 0 | 0 | 0 |
09/30/2022 | 64 | 16 | 2 | 0 | 0 | 0 | 0 |
Year Ended 2022 | 251 | 72 | 6 | 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% |
06/30/2023 | 62 | 30 | 3 | 0 | 0 | 0 | 0 |
03/31/2023 | 62 | 36 | 13 | 0 | 0 | 0 | 0 |
12/31/2022 | 63 | 31 | 16 | 1 | 0 | 0 | 1 |
09/30/2022 | 64 | 33 | 10 | 3 | 0 | 0 | 0 |
Year Ended 2022 | 251 | 125 | 43 | 4 | 0 | 0 | 1 |
Fund Inception : 12/20/2007
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.
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
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.
Additional risks are involved in writing (selling) covered call options. By writing covered call options on the Index, the Fund will give up the opportunity to benefit from potential increases in the value of the Index above the exercise prices of the options, but will continue to bear the risk of declines in the value of the Index. The Fund will be subject to capital gain taxes, ordinary income tax and other special tax considerations due to its writing covered call options strategy.
Investments focused in a particular sector, such as information technology, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
Due to its investment strategy and certain federal income tax elections it intends to make, the Fund expects to account for gains or losses on its investments on a daily mark-to-market basis for federal income tax purposes. As a result, the Fund will not be able to designate a portion of its dividends as being eligible for lower rates of tax in the hands of non-corporate shareholders or the dividends received deduction when received by certain corporate shareholders. A significant portion of Fund’s income may be subject to tax at greater rates than if the Fund were engaged in a different investment strategy. You should consult your tax advisor as to the tax consequences of acquiring, owning and selling shares in the Fund.
The Fund may become “non-diversified”, as defined under the Investment Company Act of 1940, as amended, solely as a result of a change in relative market capitalization or index weighting of one or more constitutes of the Index. Shareholder approval will not be sought when the Fund crosses from diversified to non-diversified status under such circumstances.
The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.
"S&P®," "S&P 500®" and "S&P 500TM Index", are registered trademarks of Standard & Poor's Ratings Group, a division of The McGraw-Hill Companies, Inc. "CBOE®" is a registered trademark of and "BuyWrite" is a trademark of Chicago Board Options Exchange, Incorporated ("CBOE"). These marks have been licensed for use by Invesco. The Invesco S&P 500 BuyWrite Fund is not sponsored, endorsed, sold or promoted by S&P or CBOE, and S&P and CBOE make no representation regarding the advisability of investing in the Invesco S&P 500 BuyWrite Fund.