Product Details
The Invesco Fundamental High Yield® Corporate Bond ETF (Fund) is based on the RAFI® Bonds US High Yield 1-10 Index (Index). The Fund will generally invest at least 80% of its total assets in the securities that comprise the Index. The Index is comprised of US dollar-denominated high yield corporate bonds that are SEC-registered securities or Rule 144A securities with registration rights and whose issuers are public companies listed on a major US stock exchange. Only investible non-convertible, non-exchangeable, non-zero, fixed coupon high-yield corporate bonds qualify for inclusion in the Index. Based on the Fundamental Index® methodology developed by Research Affiliates, LLC, the Index is compiled and calculated by ALM Research Solutions, LLC. The Fund does not purchase all of the securities in the Index; instead, the Fund utilizes a "sampling" methodology to seek to achieve its investment objective. The Fund and the Index are rebalanced monthly and reconstituted annually in March.
Performance
| Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
|---|---|---|---|---|---|---|
| RAFI Bonds US High Yield 1-10 Index | 5.29 | 6.33 | 1.52 | 3.40 | 4.27 | N/A |
| Bloomberg US Corporate High Yield Total Return Index | 7.13 | 7.16 | 1.81 | 3.32 | 4.47 | 6.24 |
| Fund History (%) | ||||||
| Fund NAV | 5.15 | 6.09 | 1.03 | 2.68 | 3.46 | 3.17 |
| After Tax Held | 3.90 | 4.29 | -0.47 | 1.07 | 1.67 | 1.08 |
| After Tax Sold | 3.04 | 3.57 | 0.16 | 1.37 | 1.85 | 1.47 |
| Fund Market Price | 4.96 | 6.64 | 1.07 | 2.72 | 3.48 | 3.02 |
| Index History (%) | YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception |
|---|---|---|---|---|---|---|
| RAFI Bonds US High Yield 1-10 Index | 4.15 | 8.18 | 2.88 | 3.53 | 4.27 | N/A |
| Bloomberg US Corporate High Yield Total Return Index | 5.38 | 9.06 | 3.13 | 3.36 | 4.43 | 6.19 |
| Fund History (%) | ||||||
| Fund NAV | 4.14 | 7.88 | 2.38 | 2.81 | 3.46 | 3.14 |
| After Tax Held | 3.26 | 6.18 | 0.87 | 1.20 | 1.68 | 1.05 |
| After Tax Sold | 2.44 | 4.63 | 1.19 | 1.47 | 1.85 | 1.45 |
| Fund Market Price | 4.13 | 7.81 | 2.49 | 2.97 | 3.55 | 3.00 |
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.
Growth of $10,000
Data beginning 10 years prior to the ending date of 06/30/2023. Fund performance shown at NAV.
RAFI Bonds US High Yield 1-10 Index* performance prior to 8/2/2010 reflects that of the original Underlying Index, Wells Fargo® High Yield Bond Index. From 8/2/2010 forward, performance reflects that of the Underlying Index, RAFI Bonds US High Yield 1-10 Index AND IS NOT INTENDED FOR ANY THIRD PARTY USE.
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 |
|---|---|
| Consumer Discretionary | 26.51% |
| Industrials | 13.45% |
| Materials | 10.09% |
| Energy | 9.62% |
| Financials | 9.09% |
| Information Technology | 7.65% |
| Utilities | 6.32% |
| Real Estate | 6.15% |
| Health Care | 5.71% |
| Communication Services | 3.79% |
| Consumer Staples | 0.97% |
| Investment Companies | 0.33% |
| UnClassified | 0.31% |
| Cash | 0.00% |
Quality Allocations† as of 09/27/2023
| S&P | Moody's |
|---|---|
| BBB : 16% | Baa : 16% |
| BB : 74% | Ba : 56% |
| B : 9% | B : 23% |
| Not Rated : 1% | Not Rated : 6% |
Maturity
| Years | % of Fund |
|---|---|
| 0 - 1 years | 2.22 |
| 1 - 5 years | 53.36 |
| 5 - 10 years | 44.42 |
| 10 - 15 years | 0.00 |
| 15 - 20 years | 0.00 |
| 20 - 25 years | 0.00 |
| 25 years and over | 0.00 |
as of 09/27/2023 Top Fixed-Income Holdings | View All
| Holding Name | Coupon Rate | Maturity Date | Next Call Date | S&P / Moody's Rating† | Weight |
|---|---|---|---|---|---|
| Synchrony Financial | 7.25% | 02/02/2033 | 11/02/2032 | BB+/NA | 1.99% |
| United Airlines Holdings Inc | 4.88% | 01/15/2025 | N/A | BB-/Ba3 | 1.86% |
| Ford Motor Co | 3.25% | 02/12/2032 | 11/12/2031 | BB+/Ba1 | 1.77% |
| Ford Motor Credit Co LLC | 3.38% | 11/13/2025 | 10/13/2025 | BB+/Ba1 | 1.77% |
| Freeport-McMoRan Inc | 4.62% | 08/01/2030 | 08/01/2025 | BB+/Baa3 | 1.56% |
| TransDigm Inc | 5.50% | 11/15/2027 | 10/30/2023 | B-/B3 | 1.50% |
| Western Digital Corp | 4.75% | 02/15/2026 | 11/15/2025 | BB-/Baa3 | 1.50% |
| Charter Communications Operating LLC / Charter Communication | 4.91% | 07/23/2025 | 04/23/2025 | BBB-/Ba1 | 1.49% |
| CCO Holdings LLC / CCO Holdings Capital Corp | 4.75% | 03/01/2030 | 09/01/2024 | BB-/B1 | 1.49% |
| DPL Inc | 4.12% | 07/01/2025 | 04/01/2025 | BB/Ba2 | 1.37% |
Holdings are subject to change and are not buy/sell recommendations.
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 | 0.07904 | 0.07904 | - | - | - | - |
| 08/21/2023 | 08/22/2023 | 08/25/2023 | 0.07583 | 0.07583 | - | - | - | - |
| 07/24/2023 | 07/25/2023 | 07/28/0203 | 0.07238 | 0.07238 | - | - | - | - |
| 06/20/2023 | 06/21/2023 | 06/23/2023 | 0.06674 | 0.06674 | - | - | - | - |
| 05/22/2023 | 05/23/2023 | 05/26/2023 | 0.06318 | 0.06318 | - | - | - | - |
| 04/24/2023 | 04/25/2023 | 04/28/2023 | 0.06190 | 0.06190 | - | - | - | - |
| 03/20/2023 | 03/21/2023 | 03/24/2023 | 0.05870 | 0.05870 | - | - | - | - |
| 02/21/2023 | 02/22/2023 | 02/24/2023 | 0.05641 | 0.05641 | - | - | - | - |
| 01/23/2023 | 01/24/2023 | 01/27/2023 | 0.05419 | 0.05419 | - | - | - | - |
| 12/19/2022 | 12/20/2022 | 12/23/2022 | 0.05300 | 0.05300 | - | - | - | - |
| 11/21/2022 | 11/22/2022 | 11/25/2022 | 0.05276 | 0.05276 | - | - | - | - |
| 10/24/2022 | 10/25/2022 | 10/28/2022 | 0.05221 | 0.05221 | - | - | - | - |
| 09/19/2022 | 09/20/2022 | 09/23/2022 | 0.05175 | 0.05175 | - | - | - | - |
| 08/22/2022 | 08/23/2022 | 08/26/2022 | 0.05125 | 0.05125 | - | - | - | - |
| 07/18/2022 | 07/19/2022 | 07/22/2022 | 0.05097 | 0.05097 | - | - | - | - |
| 06/21/2022 | 06/22/2022 | 06/30/2022 | 0.04906 | 0.04906 | - | - | - | - |
| 05/23/2022 | 05/24/2022 | 05/31/2022 | 0.04869 | 0.04869 | - | - | - | - |
| 04/18/2022 | 04/19/2022 | 04/29/2022 | 0.04750 | 0.04750 | - | - | - | - |
| 03/21/2022 | 03/22/2022 | 03/31/2022 | 0.04762 | 0.04762 | - | - | - | - |
| 02/22/2022 | 02/23/2022 | 02/28/2022 | 0.04850 | 0.04850 | - | - | - | - |
| 01/24/2022 | 01/25/2022 | 01/31/2022 | 0.04908 | 0.04908 | - | - | - | - |
| 12/20/2021 | 12/21/2021 | 12/31/2021 | 0.05067 | 0.05067 | - | - | - | - |
| 11/22/2021 | 11/23/2021 | 11/30/2021 | 0.05067 | 0.05067 | - | - | - | - |
| 10/18/2021 | 10/19/2021 | 10/29/2021 | 0.05197 | 0.05197 | - | - | - | - |
| 09/20/2021 | 09/21/2021 | 09/30/2021 | 0.05206 | 0.05206 | - | - | - | - |
| 08/23/2021 | 08/24/2021 | 08/31/2021 | 0.05166 | 0.05166 | - | - | - | - |
| 07/19/2021 | 07/20/2021 | 07/30/2021 | 0.05192 | 0.05192 | - | - | - | - |
| 06/21/2021 | 06/22/2021 | 06/30/2021 | 0.05345 | 0.05345 | - | - | - | - |
| 05/24/2021 | 05/25/2021 | 05/28/2021 | 0.05456 | 0.05456 | - | - | - | - |
| 04/19/2021 | 04/20/2021 | 04/30/2021 | 0.05681 | 0.05681 | - | - | - | - |
| 03/22/2021 | 03/23/2021 | 03/31/2021 | 0.05879 | 0.05879 | - | - | - | - |
| 02/22/2021 | 02/23/2021 | 02/26/2021 | 0.06055 | 0.06055 | - | - | - | - |
| 01/19/2021 | 01/20/2021 | 01/29/2021 | 0.06129 | 0.06129 | - | - | - | - |
| 12/21/2020 | 12/22/2020 | 12/31/2020 | 0.06205 | 0.06205 | - | - | - | - |
| 11/23/2020 | 11/24/2020 | 11/30/2020 | 0.06231 | 0.06231 | - | - | - | - |
| 10/19/2020 | 10/20/2020 | 10/30/2020 | 0.06283 | 0.06283 | - | - | - | - |
| 09/21/2020 | 09/22/2020 | 09/30/2020 | 0.06340 | 0.06340 | - | - | - | - |
| 08/24/2020 | 08/25/2020 | 08/31/2020 | 0.06600 | 0.06600 | - | - | - | - |
| 07/20/2020 | 07/21/2020 | 07/31/2020 | 0.06597 | 0.06597 | - | - | - | - |
| 06/22/2020 | 06/23/2020 | 06/30/2020 | 0.06492 | 0.06492 | - | - | - | - |
| 05/18/2020 | 05/19/2020 | 05/29/2020 | 0.06354 | 0.06354 | - | - | - | - |
| 04/20/2020 | 04/21/2020 | 04/30/2020 | 0.06248 | 0.06248 | - | - | - | - |
| 03/23/2020 | 03/24/2020 | 03/31/2020 | 0.06138 | 0.06138 | - | - | - | - |
| 02/24/2020 | 02/25/2020 | 02/28/2020 | 0.06061 | 0.06061 | - | - | - | - |
| 01/21/2020 | 01/22/2020 | 01/31/2020 | 0.06220 | 0.06220 | - | - | - | - |
| 12/23/2019 | 12/24/2019 | 12/31/2019 | 0.06430 | 0.06430 | - | - | - | - |
| 11/18/2019 | 11/19/2019 | 11/29/2019 | 0.06430 | 0.06430 | - | - | - | - |
| 10/21/2019 | 10/22/2019 | 10/31/2019 | 0.06514 | 0.06514 | - | - | - | - |
| 09/23/2019 | 09/24/2019 | 09/30/2019 | 0.06491 | 0.06491 | - | - | - | - |
| 08/19/2019 | 08/20/2019 | 08/30/2019 | 0.06319 | 0.06319 | - | - | - | - |
| 07/22/2019 | 07/23/2019 | 07/31/2019 | 0.06485 | 0.06485 | - | - | - | - |
| 06/24/2019 | 06/25/2019 | 06/28/2019 | 0.06614 | 0.06614 | - | - | - | - |
| 05/20/2019 | 05/21/2019 | 05/31/2019 | 0.06490 | 0.06490 | - | - | - | - |
| 04/22/2019 | 04/23/2019 | 04/30/2019 | 0.06551 | 0.06551 | - | - | - | - |
| 03/18/2019 | 03/19/2019 | 03/29/2019 | 0.06514 | 0.06514 | - | - | - | - |
| 02/19/2019 | 02/20/2019 | 02/28/2019 | 0.06355 | - | - | - | - | - |
| 01/22/2019 | 01/23/2019 | 01/31/2019 | 0.06500 | 0.06500 | - | - | - | - |
| 12/24/2018 | 12/26/2018 | 12/31/2018 | 0.07367 | 0.07367 | - | - | - | - |
| 11/19/2018 | 11/20/2018 | 11/30/2018 | 0.06267 | 0.06267 | - | - | - | - |
| 10/22/2018 | 10/23/2018 | 10/31/2018 | 0.06400 | 0.06400 | - | - | - | - |
| 09/24/2018 | 09/25/2018 | 09/28/2018 | 0.06365 | 0.06365 | - | - | - | - |
| 08/20/2018 | 08/21/2018 | 08/31/2018 | 0.06568 | 0.06568 | - | - | - | - |
| 07/23/2018 | 07/24/2018 | 07/31/2018 | 0.06655 | 0.06655 | - | - | - | - |
| 06/18/2018 | 06/19/2018 | 06/29/2018 | 0.06533 | 0.06533 | - | - | - | - |
| 05/21/2018 | 05/22/2018 | 05/31/2018 | 0.06486 | 0.06486 | - | - | - | - |
| 04/23/2018 | 04/24/2018 | 04/30/2018 | 0.06387 | 0.06387 | - | - | - | - |
| 03/19/2018 | 03/20/2018 | 03/29/2018 | 0.06453 | 0.06453 | - | - | - | - |
| 02/20/2018 | 02/21/2018 | 02/28/2018 | 0.06456 | 0.06456 | - | - | - | - |
| 01/22/2018 | 01/23/2018 | 01/31/2018 | 0.06462 | 0.06462 | - | - | - | - |
| 12/18/2017 | 12/19/2017 | 12/29/2017 | 0.05952 | 0.05952 | - | - | - | - |
| 11/20/2017 | 11/21/2017 | 11/30/2017 | 0.06536 | 0.06536 | - | - | - | - |
| 10/23/2017 | 10/24/2017 | 10/31/2017 | 0.06233 | 0.06233 | - | - | - | - |
| 09/18/2017 | 09/19/2017 | 09/29/2017 | 0.06135 | 0.06135 | - | - | - | - |
| 08/15/2017 | 08/17/2017 | 08/31/2017 | 0.06245 | 0.06245 | - | - | - | - |
| 07/14/2017 | 07/18/2017 | 07/31/2017 | 0.06384 | 0.06384 | - | - | - | - |
| 06/15/2017 | 06/19/2017 | 06/30/2017 | 0.06470 | 0.06470 | - | - | - | - |
| 05/15/2017 | 05/17/2017 | 05/31/2017 | 0.06671 | 0.06671 | - | - | - | - |
| 04/13/2017 | 04/18/2017 | 04/28/2017 | 0.06856 | 0.06856 | - | - | - | - |
| 03/15/2017 | 03/17/2017 | 03/31/2017 | 0.06921 | 0.06921 | - | - | - | - |
| 02/15/2017 | 02/17/2017 | 02/28/2017 | 0.06947 | 0.06947 | - | - | - | - |
| 01/13/2017 | 01/18/2017 | 01/31/2017 | 0.07067 | 0.07067 | - | - | - | - |
| 12/15/2016 | 12/19/2016 | 12/30/2016 | 0.07163 | 0.07163 | - | - | - | - |
| 11/15/2016 | 11/17/2016 | 11/30/2016 | 0.07276 | 0.07276 | - | - | - | - |
| 10/14/2016 | 10/18/2016 | 10/31/2016 | 0.06941 | 0.06941 | - | - | - | - |
| 09/15/2016 | 09/19/2016 | 09/30/2016 | 0.06890 | 0.06890 | - | - | - | - |
| 08/15/2016 | 08/17/2016 | 08/31/2016 | 0.07131 | 0.07131 | - | - | - | - |
| 07/15/2016 | 07/19/2016 | 07/29/2016 | 0.07496 | 0.07496 | - | - | - | - |
| 06/15/2016 | 06/17/2016 | 06/30/2016 | 0.07450 | 0.07450 | - | - | - | - |
| 05/13/2016 | 05/17/2016 | 05/31/2016 | 0.07457 | 0.07457 | - | - | - | - |
| 04/15/2016 | 04/19/2016 | 04/29/2016 | 0.07346 | 0.07346 | - | - | - | - |
| 03/15/2016 | 03/17/2016 | 03/31/2016 | 0.07078 | 0.07078 | - | - | - | - |
| 02/12/2016 | 02/17/2016 | 02/29/2016 | 0.06967 | 0.06967 | - | - | - | - |
| 01/15/2016 | 01/20/2016 | 01/29/2016 | 0.06838 | 0.06838 | - | - | - | - |
| 12/15/2015 | 12/17/2015 | 12/31/2015 | 0.06979 | 0.06979 | - | - | - | - |
| 11/13/2015 | 11/17/2015 | 11/30/2015 | 0.06861 | 0.06861 | - | - | - | - |
| 10/15/2015 | 10/19/2015 | 10/30/2015 | 0.06362 | 0.06362 | - | - | - | - |
| 09/15/2015 | 09/17/2015 | 09/30/2015 | 0.06447 | 0.06447 | - | - | - | - |
| 08/14/2015 | 08/18/2015 | 08/31/2015 | 0.06874 | 0.06874 | - | - | - | - |
| 07/15/2015 | 07/17/2015 | 07/31/2015 | 0.06883 | 0.06883 | - | - | - | - |
| 06/15/2015 | 06/17/2015 | 06/30/2015 | 0.06768 | 0.06768 | - | - | - | - |
| 05/15/2015 | 05/19/2015 | 05/29/2015 | 0.06960 | 0.06960 | - | - | - | - |
| 04/15/2015 | 04/17/2015 | 04/30/2015 | 0.06832 | 0.06832 | - | - | - | - |
| 03/13/2015 | 03/17/2015 | 03/31/2015 | 0.06933 | 0.06933 | - | - | - | - |
| 02/13/2015 | 02/18/2015 | 02/27/2015 | 0.06911 | 0.06911 | - | - | - | - |
| 01/15/2015 | 01/20/2015 | 01/30/2015 | 0.06991 | 0.06991 | - | - | - | - |
| 12/15/2014 | 12/17/2014 | 12/31/2014 | 0.06982 | 0.06982 | - | - | - | - |
| 11/14/2014 | 11/18/2014 | 11/28/2014 | 0.06974 | 0.06974 | - | - | - | - |
| 10/15/2014 | 10/17/2014 | 10/31/2014 | 0.06526 | 0.06526 | - | - | - | - |
| 09/15/2014 | 09/17/2014 | 09/30/2014 | 0.06649 | 0.06649 | - | - | - | - |
| 08/15/2014 | 08/19/2014 | 08/29/2014 | 0.06939 | 0.06939 | - | - | - | - |
| 07/15/2014 | 07/17/2014 | 07/31/2014 | 0.06920 | 0.06920 | - | - | - | - |
| 06/13/2014 | 06/17/2014 | 06/30/2014 | 0.06959 | 0.06959 | - | - | - | - |
| 05/15/2014 | 05/19/2014 | 05/30/2014 | 0.07175 | 0.07175 | - | - | - | - |
| 04/15/2014 | 04/17/2014 | 04/30/2014 | 0.07208 | 0.07208 | - | - | - | - |
| 03/14/2014 | 03/18/2014 | 03/31/2014 | 0.07312 | 0.07312 | - | - | - | - |
| 02/14/2014 | 02/19/2014 | 02/28/2014 | 0.07277 | 0.07277 | - | - | - | - |
| 01/15/2014 | 01/17/2014 | 01/31/2014 | 0.07267 | 0.07267 | - | - | - | - |
| 12/13/2013 | 12/17/2013 | 12/31/2013 | 0.07414 | 0.07414 | - | - | - | - |
| 11/15/2013 | 11/19/2013 | 11/29/2013 | 0.07400 | 0.07400 | - | - | - | - |
| 10/15/2013 | 10/17/2013 | 10/31/2013 | 0.07100 | 0.07100 | - | - | - | - |
| 09/13/2013 | 09/17/2013 | 09/30/2013 | 0.07100 | 0.07100 | - | - | - | - |
| 08/15/2013 | 08/19/2013 | 08/30/2013 | 0.07109 | 0.07109 | - | - | - | - |
| 07/15/2013 | 07/17/2013 | 07/31/2013 | 0.07500 | 0.07500 | - | - | - | - |
| 06/14/2013 | 06/18/2013 | 06/28/2013 | 0.07385 | 0.07385 | - | - | - | - |
| 05/15/2013 | 05/17/2013 | 05/31/2013 | 0.07467 | 0.07467 | - | - | - | - |
| 04/15/2013 | 04/17/2013 | 04/30/2013 | 0.07436 | 0.07436 | - | - | - | - |
| 03/15/2013 | 03/19/2013 | 03/28/2013 | 0.07630 | 0.07630 | - | - | - | - |
| 02/15/2013 | 02/20/2013 | 02/28/2013 | 0.07514 | 0.07514 | - | - | - | - |
| 01/15/2013 | 01/17/2013 | 01/31/2013 | 0.07748 | 0.07748 | - | - | - | - |
| 12/14/2012 | 12/18/2012 | 12/31/2012 | 0.07844 | 0.07844 | - | - | - | - |
| 11/15/2012 | 11/19/2012 | 11/30/2012 | 0.07901 | 0.07901 | - | - | - | - |
| 10/15/2012 | 10/17/2012 | 10/31/2012 | 0.07733 | 0.07733 | - | - | - | - |
| 09/14/2012 | 09/18/2012 | 09/28/2012 | 0.07639 | 0.07639 | - | - | - | - |
| 08/15/2012 | 08/17/2012 | 08/31/2012 | 0.08007 | 0.08007 | - | - | - | - |
| 07/13/2012 | 07/17/2012 | 07/31/2012 | 0.08454 | 0.08454 | - | - | - | - |
| 06/15/2012 | 06/19/2012 | 06/29/2012 | 0.08249 | 0.08249 | - | - | - | - |
| 05/15/2012 | 05/17/2012 | 05/31/2012 | 0.08296 | 0.08296 | - | - | - | - |
| 04/13/2012 | 04/17/2012 | 04/30/2012 | 0.08336 | 0.08336 | - | - | - | - |
| 03/15/2012 | 03/19/2012 | 03/30/2012 | 0.08337 | 0.08337 | - | - | - | - |
| 02/15/2012 | 02/17/2012 | 02/29/2012 | 0.08475 | 0.08475 | - | - | - | - |
| 01/13/2012 | 01/18/2012 | 01/31/2012 | 0.08582 | 0.08582 | - | - | - | - |
| 12/15/2011 | 12/19/2011 | 12/30/2011 | 0.08000 | 0.08000 | - | - | - | - |
| 11/15/2011 | 11/17/2011 | 11/30/2011 | 0.08000 | 0.08000 | - | - | - | - |
| 10/14/2011 | 10/18/2011 | 10/31/2011 | 0.07500 | 0.07500 | - | - | - | - |
| 09/15/2011 | 09/19/2011 | 09/30/2011 | 0.08610 | 0.08610 | - | - | - | - |
| 08/15/2011 | 08/17/2011 | 08/31/2011 | 0.08725 | 0.08725 | - | - | - | - |
| 07/15/2011 | 07/19/2011 | 07/29/2011 | 0.09105 | 0.09105 | - | - | - | - |
| 06/15/2011 | 06/17/2011 | 06/30/2011 | 0.09235 | 0.09235 | - | - | - | - |
| 05/13/2011 | 05/17/2011 | 05/31/2011 | 0.09551 | 0.09551 | - | - | - | - |
| 04/15/2011 | 04/19/2011 | 04/29/2011 | 0.09708 | 0.09708 | - | - | - | - |
| 03/15/2011 | 03/17/2011 | 03/31/2011 | 0.09962 | 0.09962 | - | - | - | - |
| 02/15/2011 | 02/17/2011 | 02/28/2011 | 0.09975 | 0.09975 | - | - | - | - |
| 01/14/2011 | 01/19/2011 | 01/31/2011 | 0.10208 | 0.10208 | - | - | - | - |
| 12/15/2010 | 12/17/2010 | 12/31/2010 | 0.11107 | 0.11107 | - | - | - | - |
| 11/15/2010 | 11/17/2010 | 11/30/2010 | 0.09842 | 0.09842 | - | - | - | - |
| 10/15/2010 | 10/19/2010 | 10/29/2010 | 0.10482 | 0.10482 | - | - | - | - |
| 09/15/2010 | 09/17/2010 | 09/30/2010 | 0.10731 | 0.10731 | - | - | - | - |
| 08/13/2010 | 08/17/2010 | 08/31/2010 | 0.11888 | 0.11888 | - | - | - | - |
| 07/15/2010 | 07/19/2010 | 07/30/2010 | 0.12250 | 0.12250 | - | - | - | - |
| 06/15/2010 | 06/17/2010 | 06/30/2010 | 0.12146 | 0.12146 | - | - | - | - |
| 05/14/2010 | 05/18/2010 | 05/28/2010 | 0.12038 | 0.12038 | - | - | - | - |
| 04/15/2010 | 04/19/2010 | 04/30/2010 | 0.11877 | 0.11877 | - | - | - | - |
| 03/15/2010 | 03/17/2010 | 03/31/2010 | 0.11993 | 0.11993 | - | - | - | - |
| 02/12/2010 | 02/17/2010 | 02/26/2010 | 0.11675 | 0.11675 | - | - | - | - |
| 01/15/2010 | 01/20/2010 | 01/29/2010 | 0.11869 | 0.11869 | - | - | - | - |
| 12/15/2009 | 12/17/2009 | 12/31/2009 | 0.16204 | 0.16204 | - | - | - | - |
| 11/13/2009 | 11/17/2009 | 11/30/2009 | 0.13631 | 0.13631 | - | - | - | - |
| 10/15/2009 | 10/19/2009 | 10/30/2009 | 0.13333 | 0.13333 | - | - | - | - |
| 09/15/2009 | 09/17/2009 | 09/30/2009 | 0.12628 | 0.12628 | - | - | - | - |
| 08/14/2009 | 08/18/2009 | 08/31/2009 | 0.12556 | 0.12556 | - | - | - | - |
| 07/15/2009 | 07/17/2009 | 07/31/2009 | 0.12592 | 0.12592 | - | - | - | - |
| 06/15/2009 | 06/17/2009 | 06/30/2009 | 0.12214 | 0.12214 | - | - | - | - |
| 05/15/2009 | 05/19/2009 | 05/29/2009 | 0.14179 | 0.14179 | - | - | - | - |
| 04/15/2009 | 04/17/2009 | 04/30/2009 | 0.11884 | 0.11884 | - | - | - | - |
| 03/13/2009 | 03/17/2009 | 03/31/2009 | 0.12195 | 0.12195 | - | - | - | - |
| 02/13/2009 | 02/18/2009 | 02/27/2009 | 0.11431 | 0.11431 | - | - | - | - |
| 01/15/2009 | 01/20/2009 | 01/30/2009 | 0.14997 | 0.14997 | - | - | - | - |
| 12/15/2008 | 12/17/2008 | 12/31/2008 | 0.17258 | 0.01726 | - | - | - | - |
| 11/14/2008 | 11/18/2008 | 11/28/2008 | 0.16218 | 0.16218 | - | - | - | - |
| 10/15/2008 | 10/17/2008 | 10/31/2008 | 0.16356 | 0.16356 | - | - | - | - |
| 09/15/2008 | 09/17/2008 | 09/30/2008 | 0.16624 | 0.16624 | - | - | - | - |
| 08/15/2008 | 08/19/2008 | 08/29/2008 | 0.17910 | 0.17910 | - | - | - | - |
| 07/15/2008 | 07/17/2008 | 07/31/2008 | 0.17581 | 0.17581 | - | - | - | - |
| 06/13/2008 | 06/17/2008 | 06/30/2008 | 0.15503 | 0.15503 | - | - | - | - |
| 05/15/2008 | 05/19/2008 | 05/30/2008 | 0.14822 | 0.14822 | - | - | - | - |
| 04/15/2008 | 04/17/2008 | 04/30/2008 | 0.15776 | 0.15776 | - | - | - | - |
| 03/14/2008 | 03/18/2008 | 03/31/2008 | 0.16015 | 0.16015 | - | - | - | - |
| 02/15/2008 | 02/19/2008 | 02/29/2008 | 0.16212 | 0.16212 | - | - | - | - |
| 01/15/2008 | 01/17/2008 | 01/31/2008 | 0.14274 | 0.14274 | - | - | - | - |
| 12/14/2007 | 12/18/2007 | 12/31/2007 | 0.24151 | 0.24151 | - | - | - | - |
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 | 32 | 7 | 0 | 0 | 0 | 0 |
| 03/31/2023 | 62 | 21 | 12 | 3 | 0 | 0 | 0 |
| 12/31/2022 | 63 | 14 | 23 | 6 | 1 | 0 | 0 |
| 09/30/2022 | 64 | 15 | 12 | 11 | 0 | 0 | 0 |
| Year Ended 2022 | 251 | 63 | 45 | 24 | 1 | 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 | 21 | 2 | 0 | 0 | 0 | 0 |
| 03/31/2023 | 62 | 19 | 7 | 0 | 0 | 0 | 0 |
| 12/31/2022 | 63 | 11 | 6 | 1 | 1 | 0 | 0 |
| 09/30/2022 | 64 | 9 | 12 | 5 | 0 | 0 | 0 |
| Year Ended 2022 | 251 | 58 | 42 | 16 | 1 | 1 | 0 |
Fund Inception : 11/15/2007
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
Materials & Resources
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.
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.
Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.
The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.
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.
Investments focused in a particular industry or sector are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
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'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.
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 Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.
The Wells Fargo High Yield Bond Index is comprised of US dollar-denominated bonds registered for sale in the United States whose issuers are public companies listed on major US stock exchanges. The Barclays US Corporate High Yield Index covers the US dollar-denominated, non-investment grade, fixed-rate, taxable corporate bond market.
Fundamental Index®, Research Affiliates®, Fundamental High Yield® and all other RA trademarks, trade names, patented and patent-pending concepts are the exclusive property of Research Affiliates, LLC. RAFI® Bonds US High Yield 1-10 Index is calculated and maintained by ALM Research Solutions, Inc. (a wholly owned subsidiary of Ryan ALM, Inc.) in conjunction with Research Affiliates LLC and is the exclusive property of Research Affiliates.
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.
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