The Invesco International Corporate Bond ETF (Fund) is based on the S&P International Corporate Bond Index® (Index). The Fund will normally invest at least 80% of its total assets in investment-grade corporate bonds that comprise the Index. The Index measures the performance of investment-grade corporate bonds issued in the following currencies of Group of Ten (G10) countries, excluding the US dollar (USD): Australian dollar (AUD), British pound (GBP), Canadian dollar (CAD), euro (EUR), Japanese yen (JPY), Swiss franc (SFR), New Zealand dollar (NZD), Norwegian krone (NOK) and Swedish krona (SEK). The Index is computed using the net return, which withholds applicable taxes for non-resident investors. The Fund and the Index are rebalanced monthly and reconstituted annually in September.
|Index History (%)||YTD||1Yr||3Yr||5Yr||10Yr||Since Inception|
|S&P International Corporate Bond Index||3.69||5.16||-7.65||-2.24||-0.89||1.09|
|Bloomberg Pan European Aggregate Total Return Index||4.33||4.93||-8.93||-3.25||-1.16||0.78|
|Fund History (%)|
|After Tax Held||3.41||4.58||-8.11||-2.69||-1.30||0.54|
|After Tax Sold||2.41||3.20||-5.86||-1.82||-0.78||0.67|
|Fund Market Price||3.71||5.97||-7.55||-2.19||-0.82||1.11|
|Index History (%)||YTD||1Yr||3Yr||5Yr||10Yr||Since Inception|
|S&P International Corporate Bond Index||3.45||0.30||-5.32||-2.32||-0.69||1.08|
|Bloomberg Pan European Aggregate Total Return Index||4.28||-0.64||-6.93||-3.43||-0.99||0.78|
|Fund History (%)|
|After Tax Held||3.30||-0.23||-5.79||-2.76||-1.11||0.53|
|After Tax Sold||2.24||0.26||-4.16||-1.88||-0.65||0.67|
|Fund Market Price||3.53||0.26||-5.32||-2.20||-0.60||1.11|
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||Percent of Fund|
Top Country Allocation
Quality Allocations† as of 09/27/2023
|AAA : 0%||Aaa : 0%|
|AA : 4%||Aa : 11%|
|A : 48%||A : 38%|
|BBB : 42%||Baa : 43%|
|Not Rated : 6%||Not Rated : 8%|
Cash is excluded from the credit rating quality allocations table.
|Years||% of Fund|
|0 - 1 years||0.25|
|1 - 5 years||57.10|
|5 - 10 years||28.87|
|10 - 15 years||5.08|
|15 - 20 years||4.46|
|20 - 25 years||1.28|
|25 years and over||2.96|
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|
|NTT Finance Corp||0.18%||12/19/2025||N/A||A/NR||0.57%|
|NTT Finance Corp||0.38%||09/20/2030||N/A||A/NR||0.56%|
|Royal Bank of Canada||3.37%||09/29/2025||N/A||A/A1||0.55%|
|Royal Bank of Canada||4.63%||05/01/2028||N/A||A/A1||0.53%|
|Bank of Montreal||4.71%||12/07/2027||11/07/2027||A+/A2||0.49%|
|Bank of Montreal||4.31%||06/01/2027||05/01/2027||NR/A2||0.49%|
|Enel Finance International NV||5.75%||09/14/2040||N/A||BBB+/Baa1||0.45%|
Holdings are subject to change and are not buy/sell recommendations.
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.
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.
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 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, such as Europe, is expected to be closely tied to conditions within that region and to be more volatile than more geographically diversified investments.
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 financial, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
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.
Restricted securities generally cannot be sold to the public and may involve a high degree of business, financial and liquidity risk, which may result in substantial losses to the Fund.
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 BofA Merrill Lynch Global Broad Market Non-Sovereign ex-USD Index tracks the performance of investment grade debt publicly issued in the major domestic and Eurobond markets, including sovereign, quasi-government, corporate, securitized and collateralized securities and excludes all securities denominated in US dollars.
The Barclays Pan-European Aggregate Index covers eligible investment grade securities from the entire European continent. The primary component is the Euro-Aggregate Index. In addition, the Pan-European Aggregate Index includes eligible securities denominated in British pounds (GBP), Swedish krona (SEK), Danish krone (DKK), Norwegian krone (NOK), Czech koruna (CZK), Hungarian forint (HUF), Polish zloty (PLN), Slovenian tolar (SIT), Slovakian koruna (SKK), and Swiss franc (CHF).
S&P® is a registered trademark of Standard & Poor's Financial Services LLC (S&P) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones). These trademarks have been licensed for use by S&P Dow Jones Indices LLC. S&P® and Standard & Poor's® are trademarks of S&P and Dow Jones® is a trademark of Dow Jones. These trademarks have been sublicensed for certain purposes by Invesco Capital Management LLC. The Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Invesco. The Fund is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates make any representation regarding the advisability of investing in such product(s).
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 under perform cap-weighted benchmarks and increase portfolio risk.