Equity | US Equity

Invesco MSCI USA ETF

Ticker: PBUS

Product Details

The Invesco MSCI USA ETF (Fund ) is based on the MSCI USA Index (Index). The Fund will invest at least 90% of its total assets in securities that comprise the Index. The index measures the performance in the large- and mid-capitalization segments of the US equity market and weights securities by their free float-adjusted market capitalization. The Fund and the Index are rebalanced and reconstituted quarterly on the last business day of February, May, August and November.

Effective after the close of markets on Aug. 25, 2023, the Fund’s name will change from Invesco PureBeta MSCI USA ETF to Invesco MSCI USA ETF. No other changes were made to the Fund. See the prospectus for more information.

as of 04/30/2024

Morningstar Rating

Overall Rating - Large Blend Category

As of 04/30/2024 the Fund had an overall rating of 4 stars out of 1294 funds and was rated 3 stars out of 1294 funds, 4 stars out of 1180 funds and N/A stars out of N/A funds for the 3-, 5- and 10- year periods, respectively.

Morningstar details

Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2024 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.

as of 04/30/2024 03/31/2024

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
MSCI USA Index 5.85 23.32 7.35 13.16 12.34 13.08
Fund History (%)
Fund NAV 5.85 23.29 7.32 13.07 N/A 12.99
After Tax Held 5.70 22.79 6.90 12.61 N/A 12.51
After Tax Sold 3.46 13.95 5.56 10.33 N/A 10.42
Fund Market Price 5.82 23.30 7.30 13.07 N/A 13.00
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
MSCI USA Index 10.41 30.26 10.80 15.02 12.88 13.99
Fund History (%)
Fund NAV 10.39 30.22 10.77 14.92 N/A 13.90
After Tax Held 10.24 29.71 10.34 14.46 N/A 13.41
After Tax Sold 6.15 18.05 8.27 11.87 N/A 11.18
Fund Market Price 10.35 30.21 10.66 14.88 N/A 13.91

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.

as of 03/31/2024

Growth of $10,000

Data beginning Fund inception and ending 03/31/2024. 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 05/28/2024

Sector Allocation

Sector Percent of Fund
Information Technology 31.21%
Financials 12.61%
Health Care 11.70%
Consumer Discretionary 9.90%
Communication Services 9.37%
Industrials 8.75%
Consumer Staples 5.82%
Energy 3.84%
Materials 2.33%
Utilities 2.33%
Real Estate 2.16%
as of 05/24/2024

Market Cap & Style Allocations

Large-Cap Value 14.28%
Large-Cap Blend 26.18%
Large-Cap Growth 38.89%
Mid-Cap Value 5.90%
Mid-Cap Blend 8.95%
Mid-Cap Growth 5.29%
Small-Cap Value 0.17%
Small-Cap Blend 0.24%
Small-Cap Growth 0.09%

as of 05/28/2024 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
MSFT Microsoft Corp 6.55
NVDA NVIDIA Corp 6.06
AAPL Apple Inc 6.01
AMZN Amazon.com Inc 3.65
META Meta Platforms Inc 2.29
GOOGL Alphabet Inc 2.25
GOOG Alphabet Inc 1.97
LLY Eli Lilly & Co 1.40
AVGO Broadcom Inc 1.35
JPM JPMorgan Chase & Co 1.24
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 | 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
03/18/2024 03/19/2024 03/22/2024 0.16870 0.16870 - - - -
12/18/2023 12/19/2023 12/22/2023 0.18151 0.18151 - - - -
09/18/2023 09/19/2023 09/22/2023 0.14217 0.14217 - - - -
06/20/2023 06/21/2023 06/23/2023 0.15623 0.15623 - - - -
03/20/2023 03/21/2023 03/24/2023 0.16809 0.16809 - - - -
12/19/2022 12/20/2022 12/23/2022 0.16519 0.16519 - - - -
09/19/2022 09/20/2022 09/23/2022 0.16202 0.16202 - - - -
06/21/2022 06/22/2022 06/30/2022 0.16154 0.16154 - - - -
03/21/2022 03/22/2022 03/31/2022 0.16323 0.16323 - - - -
12/20/2021 12/21/2021 12/31/2021 0.17243 0.16080 0.01113 0.00050 - -
09/20/2021 09/21/2021 09/30/2021 0.12549 0.12549 - - - -
06/21/2021 06/22/2021 06/30/2021 0.04462 0.04462 - - - -
03/22/2021 03/23/2021 03/31/2021 0.12736 0.12736 - - - -
12/21/2020 12/22/2020 12/31/2020 0.12782 0.12782 - - - -
09/21/2020 09/22/2020 09/30/2020 0.13121 0.13121 - - - -
06/22/2020 06/23/2020 06/30/2020 0.10356 0.10356 - - - -
03/23/2020 03/24/2020 03/31/2020 0.15383 0.15383 - - - -
12/23/2019 12/24/2019 12/31/2019 0.17400 0.17400 - - - -
09/23/2019 09/24/2019 09/30/2019 0.07803 0.07803 - - - -
06/24/2019 06/25/2019 06/28/2019 0.13194 0.13194 - - - -
03/18/2019 03/19/2019 03/29/2019 0.10751 0.10751 - - - -
12/26/2018 12/27/2018 12/31/2018 - - 0.04411 0.02340 - -
12/24/2018 12/26/2018 12/31/2018 0.14895 0.14895 - - - -
09/24/2018 09/25/2018 09/28/2018 0.13742 0.13742 - - - -
06/18/2018 06/19/2018 06/29/2018 0.12544 0.12544 - - - -
03/19/2018 03/20/2018 03/29/2018 0.09828 0.09828 - - - -
12/18/2017 12/19/2017 12/29/2017 0.13279 0.13279 - - - -

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%
03/31/2024 61 28 0 0 0 0 0
12/31/2023 63 31 0 0 0 0 0
09/30/2023 63 36 0 0 0 0 0
06/30/2023 62 30 0 0 0 0 0
Year Ended 2023 250 112 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%
03/31/2024 61 33 0 0 0 0 0
12/31/2023 63 32 0 0 0 0 0
09/30/2023 63 27 0 0 0 0 0
06/30/2023 62 31 1 0 0 0 0
Year Ended 2023 250 137 1 0 0 0 0

Fund Inception : 09/22/2017

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

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.

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.

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 constituents of the Index. Shareholder approval will not be sought when the Fund crosses from diversified to non-diversified status under such circumstances.

Stocks of medium-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.

Beta is a measure of risk representing how a security is expected to respond to general market movements. PureBeta is a market-capitalization weighted methodology, and in no way refers to the purity or absence of errors or flaws in the Underlying Index’s methodology or of the Fund in seeking to track the investment results of the Underlying Index.

The Invesco PureBeta℠ MSCI USA ETF or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such the Invesco PureBeta℠ MSCI USA ETF or securities are based. The Prospectus contains a more detailed description of the limited relationship MSCI has with Invesco and any related funds.

MSCI INC. ("MSCI") AND THE MSCI INDEX NAMES ARE SERVICE MARK(S) OF MSCI OR ITS AFFILIATES AND HAVE BEEN LICENSED FOR USE FOR CERTAIN PURPOSES BY THE ADVISER.

The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.