Fixed Income | US Fixed Income

Invesco Total Return Bond ETF

Ticker: GTO
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Product Details

The Invesco Total Return Bond ETF (Fund) is an actively managed intermediate-term bond exchange-traded fund (ETF) for investors seeking monthly income and total return opportunities. The Fund will invest at least 80% of its total assets in fixed income instruments of varying maturities and of any credit qualities.

as of 04/30/2024

Morningstar Rating

Overall Rating - Intermediate Core-Plus Bond Category

As of 04/30/2024 the Fund had an overall rating of 4 stars out of 556 funds and was rated 3 stars out of 556 funds, 4 stars out of 528 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
Bloomberg US Aggregate Bond Index-TR -3.28 -1.47 -3.54 -0.16 1.20 0.75
Fund History (%)
Fund NAV -2.16 0.45 -3.66 0.83 N/A 2.40
After Tax Held -2.76 -1.28 -4.98 -0.55 N/A 0.95
After Tax Sold -1.28 0.28 -3.28 0.08 N/A 1.24
Fund Market Price -2.16 0.44 -3.69 0.81 N/A 2.40
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Bloomberg US Aggregate Bond Index-TR -0.78 1.70 -2.46 0.36 1.54 1.08
Fund History (%)
Fund NAV 0.16 3.44 -2.58 1.38 N/A 2.72
After Tax Held -0.30 1.68 -3.89 0.01 N/A 1.27
After Tax Sold 0.09 2.02 -2.49 0.50 N/A 1.48
Fund Market Price 0.22 3.47 -2.58 1.38 N/A 2.72

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 the result of a reorganization on April 6, 2018, the returns presented reflect performance of the Guggenheim predecessor fund. Invesco is not affiliated with Guggenheim.

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 05/22/2024

Sector Allocation

Sector Percent of Fund
Financials 30.91%
U.S. Agency Securities 23.54%
UnClassified 10.05%
Cash 9.81%
NonAgy ARM, Pass Thru, CMO, CMBS 4.80%
Industrials 4.04%
Utilities 3.75%
Health Care 2.96%
Consumer Discretionary 2.90%
Energy 2.87%
Sovereign Debt 2.53%
Consumer Staples 1.40%
Materials 0.97%
Real Estate 0.97%
Information Technology 0.65%
Communication Services 0.46%
U.S. Government Securities 0.28%
Under Reviw 0.20%
Telecommunication Services 0.09%
CMOs 0.03%
Investment Companies 0.02%
as of 05/22/2024

Top Country Allocation

Country Percentage
United States 81.50%
Cayman Islands 3.79%
United Kingdom 2.48%
Japan 1.18%
Canada 1.08%
France 1.05%
Germany 0.90%
Ireland 0.78%
Brazil 0.73%
Mexico 0.59%
as of 05/22/2024

Currency Allocation

Currency Percentage
USD 99.95%
British Pound 0.04%
Euro 0.00%
Canadian Dollar 0.00%
Australian Dollar 0.00%

Quality Allocations as of 05/22/2024

Rating % of Fund
AAA 49.97
AA+ 0.35
AA 1.63
AA- 1.46
A+ 4.36
A 5.53
A- 6.22
BBB+ 4.04
BBB 4.63
BBB- 7.94
BB+ 2.41
BB 1.93
BB- 1.40
B+ 0.17
CCC+ 0.02
CC 0.04
NR 7.90

Cash is excluded from the credit rating quality allocations table.

as of 05/22/2024

Maturity

Years % of Fund
0 - 1 years 7.61
1 - 5 years 17.66
5 - 10 years 24.53
10 - 15 years 6.50
15 - 20 years 2.20
20 - 25 years 0.32
25 years and over 41.18

as of 05/22/2024 Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
Cash/Receivables/Payables 0.00% N/A NR/NR 9.80%
United States Treasury Note/Bond 4.38% 05/15/2034 N/A AA+u/Aaa 6.49%
United States Treasury Note/Bond 4.25% 02/15/2054 N/A AA+u/Aaa 4.50%
CBOT 10 Year US Treasury Note N/A 06/18/2024 N/A NR/NR 4.50%
United States Treasury Note/Bond 4.62% 04/30/2029 N/A AA+u/Aaa 4.47%
CBOT 2 Year US Treasury Note Future N/A 06/28/2024 N/A NR/NR 3.97%
Fannie Mae or Freddie Mac 5.00% 06/01/2054 N/A AA+/Aaa 2.93%
CBOT US Treasure Bond Futures N/A 06/18/2024 N/A NR/NR 2.28%
Fannie Mae or Freddie Mac 4.00% 06/01/2054 N/A AA+/Aaa 2.23%
Fannie Mae or Freddie Mac 5.50% 06/01/2054 N/A AA+/Aaa 1.93%

Holdings are subject to change and are not buy/sell recommendations.

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
05/20/2024 05/21/2024 05/24/2024 0.18189 0.18189 - - - -
04/22/2024 04/23/2024 04/26/0204 0.17746 0.17746 - - - -
03/18/2024 03/19/2024 03/22/2024 0.18023 0.18023 - - - -
02/20/2024 02/21/2024 02/23/2024 0.17124 0.17124 - - - -
01/22/2024 01/23/2024 01/26/2024 0.16770 0.16770 - - - -
12/18/2023 12/19/2023 12/22/2023 0.16567 0.16567 - - - -
11/20/2023 11/21/2023 11/24/2023 0.16654 0.16654 - - - -
10/23/2023 10/24/2023 10/27/2023 0.16930 0.16930 - - - -
09/18/2023 09/19/2023 09/22/2023 0.15380 0.15380 - - - -
08/21/2023 08/22/2023 08/25/2023 0.16912 0.16912 - - - -
07/24/2023 07/25/2023 07/28/0203 0.16772 0.16772 - - - -
06/20/2023 06/21/2023 06/23/2023 0.14959 0.14959 - - - -
05/22/2023 05/23/2023 05/26/2023 0.14950 0.14950 - - - -
04/24/2023 04/25/2023 04/28/2023 0.14570 0.14570 - - - -
03/20/2023 03/21/2023 03/24/2023 0.16103 0.16103 - - - -
02/21/2023 02/22/2023 02/24/2023 0.15146 0.15146 - - - -
01/23/2023 01/24/2023 01/27/2023 0.16415 0.16415 - - - -
12/19/2022 12/20/2022 12/23/2022 0.19001 0.19001 - - - -
11/21/2022 11/22/2022 11/25/2022 0.15169 0.15169 - - - -
10/24/2022 10/25/2022 10/28/2022 0.16079 0.16079 - - - -
09/19/2022 09/20/2022 09/23/2022 0.13720 0.13720 - - - -
08/22/2022 08/23/2022 08/26/2022 0.14669 0.14669 - - - -
07/18/2022 07/19/2022 07/22/2022 0.14980 0.14980 - - - -
06/21/2022 06/22/2022 06/30/2022 0.13009 0.13009 - - - -
05/23/2022 05/24/2022 05/31/2022 0.13047 0.13047 - - - -
04/18/2022 04/19/2022 04/29/2022 0.11541 0.11541 - - - -
03/21/2022 03/22/2022 03/31/2022 0.10848 0.10848 - - - -
02/22/2022 02/23/2022 02/28/2022 0.09371 0.09371 - - - -
01/24/2022 01/25/2022 01/31/2022 0.09972 0.09972 - - - -
12/20/2021 12/21/2021 12/31/2021 0.10658 0.10658 - - - -
11/22/2021 11/23/2021 11/30/2021 0.09661 0.09661 - - - -
10/18/2021 10/19/2021 10/29/2021 0.09531 0.09531 - - - -
09/20/2021 09/21/2021 09/30/2021 0.09929 0.09929 - - - -
08/23/2021 08/24/2021 08/31/2021 0.09991 0.09991 - - - -
07/19/2021 07/20/2021 07/30/2021 0.09550 0.09550 - - - -
06/21/2021 06/22/2021 06/30/2021 0.08916 0.08916 - - - -
05/24/2021 05/25/2021 05/28/2021 0.09043 0.09043 - - - -
04/19/2021 04/20/2021 04/30/2021 0.08687 0.08687 - - - -
03/22/2021 03/23/2021 03/31/2021 0.08129 0.08129 - - - -
02/22/2021 02/23/2021 02/26/2021 0.07137 0.07137 - - - -
01/19/2021 01/20/2021 01/29/2021 0.07511 0.07511 - - - -
12/21/2020 12/22/2020 12/31/2020 1.16434 0.07407 1.09027 - - -
11/23/2020 11/24/2020 11/30/2020 0.07915 0.07915 - - - -
10/19/2020 10/20/2020 10/30/2020 0.07285 0.07285 - - - -
09/21/2020 09/22/2020 09/30/2020 0.07750 0.07750 - - - -
08/24/2020 08/25/2020 08/31/2020 0.10537 0.10537 - - - -
07/20/2020 07/21/2020 07/31/2020 0.12579 0.12579 - - - -
06/22/2020 06/23/2020 06/30/2020 0.13107 0.13107 - - - -
05/18/2020 05/19/2020 05/29/2020 0.12827 0.12827 - - - -
04/20/2020 04/21/2020 04/30/2020 0.11938 0.11938 - - - -
03/23/2020 03/24/2020 03/31/2020 0.10774 0.10774 - - - -
02/24/2020 02/25/2020 02/28/2020 0.10897 0.10897 - - - -
01/21/2020 01/22/2020 01/31/2020 0.10933 0.10933 - - - -
12/23/2019 12/24/2019 12/31/2019 0.37352 0.11127 0.26225 - - -
11/18/2019 11/19/2019 11/29/2019 0.09048 0.09048 - - - -
10/21/2019 10/22/2019 10/31/2019 0.08694 0.08694 - - - -
09/23/2019 09/24/2019 09/30/2019 0.11237 0.11237 - - - -
08/19/2019 08/20/2019 08/30/2019 0.10394 0.10394 - - - -
07/22/2019 07/23/2019 07/31/2019 0.11762 0.11762 - - - -
06/24/2019 06/25/2019 06/28/2019 0.11007 0.11007 - - - -
05/20/2019 05/21/2019 05/31/2019 0.11097 0.11097 - - - -
04/22/2019 04/23/2019 04/30/2019 0.11405 0.11405 - - - -
03/18/2019 03/19/2019 03/29/2019 0.12237 0.12237 - - - -
02/19/2019 02/20/2019 02/28/2019 0.11853 - - - - -
01/22/2019 01/23/2019 01/31/2019 0.15072 0.15072 - - - -
12/26/2018 12/27/2018 12/31/2018 - - 0.62778 0.32827 - -
12/24/2018 12/26/2018 12/31/2018 0.25108 0.25108 - - - -
11/19/2018 11/20/2018 11/30/2018 0.15385 0.15385 - - - -
10/22/2018 10/23/2018 10/31/2018 0.14267 0.14267 - - - -
09/24/2018 09/25/2018 09/28/2018 0.17538 0.17538 - - - -
08/20/2018 08/21/2018 08/31/2018 0.07240 0.07240 - - - -
08/02/2018 08/03/2018 08/07/2018 0.14543 0.14543 - - - -
07/03/2018 07/05/2018 07/09/2018 0.14427 0.14427 - - - -
06/04/2018 06/05/2018 06/07/2018 0.12681 0.12681 - - - -
05/02/2018 05/03/2018 05/07/2018 0.11356 0.11356 - - - -
04/03/2018 04/04/2018 04/06/2018 0.13440 0.13440 - - - -
03/02/2018 03/06/2018 03/08/2018 0.09230 0.09230 - - - -
02/02/2018 02/06/2018 02/08/2018 0.11840 0.11840 - - - -
12/28/2017 12/29/2017 01/02/2018 0.31770 0.19780 0.04120 0.07870 - -
12/04/2017 12/05/2017 12/07/2017 0.09090 0.09090 - - - -
11/02/2017 11/03/2017 11/07/2017 0.08570 0.08570 - - - -
10/03/2017 10/04/2017 10/06/2017 0.11480 0.11480 - - - -
09/01/2017 09/06/2017 09/08/2017 0.05820 0.05820 - - - -
08/01/2017 08/03/2017 08/07/2017 0.06400 0.06400 - - - -
07/03/2017 07/06/2017 07/10/2017 0.11920 0.11920 - - - -
06/01/2017 06/05/2017 06/07/2017 0.10650 0.10650 - - - -
05/01/2017 05/03/2017 05/05/2017 0.10870 0.10870 - - - -
04/03/2017 04/05/2017 04/07/2017 0.14360 0.14360 - - - -
03/01/2017 03/03/2017 03/07/2017 0.11340 0.11340 - - - -
02/01/2017 02/03/2017 02/07/2017 0.16190 0.16190 - - - -
12/28/2016 12/30/2016 01/04/2017 0.44400 0.13650 0.30750 - - -
12/01/2016 12/05/2016 12/07/2016 0.11550 0.11550 - - - -
11/01/2016 11/03/2016 11/07/2016 0.06880 0.06880 - - - -
10/03/2016 10/05/2016 10/07/2016 0.11640 0.11640 - - - -
09/01/2016 09/06/2016 09/08/2016 0.12830 0.12830 - - - -
08/01/2016 08/03/2016 08/05/2016 0.12030 0.12030 - - - -
07/01/2016 07/06/2016 07/08/2016 0.11740 0.11740 - - - -
06/01/2016 06/03/2016 06/07/2016 0.11890 0.11890 - - - -
05/02/2016 05/04/2016 05/06/2016 0.10940 0.10940 - - - -
04/01/2016 04/05/2016 04/07/2016 0.09910 0.09910 - - - -

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 49 1 0 0 0 0
12/31/2023 63 36 0 0 0 0 0
09/30/2023 63 40 0 0 0 0 0
06/30/2023 62 33 0 0 0 0 0
Year Ended 2023 250 141 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 11 0 0 0 0 0
12/31/2023 63 27 0 0 0 0 0
09/30/2023 63 23 0 0 0 0 0
06/30/2023 62 29 0 0 0 0 0
Year Ended 2023 250 109 0 0 0 0 0

Fund Inception : 02/10/2016

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

† 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. Actively managed ETFs do not necessarily seek to replicate the performance of a specified index. Actively managed ETFs are subject to risks similar to stocks, including those related to short selling and margin maintenance. Ordinary brokerage commissions apply. The Fund's return may not match the return of the 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.

Mortgage- and asset-backed securities, which are subject to call (prepayment) risk, reinvestment risk and extension risk. These securities are also susceptible to an unexpectedly high rate of defaults on the mortgages held by a mortgage pool, which may adversely affect their value. The risk of such defaults depends on the quality of the mortgages underlying such security, the credit quality of its issuer or guarantor, and the nature and structure of its credit support.

Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa.

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.

The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.

Because the Fund may invest in other investment companies, it's subject to the risks associated with the investment company and its performance may depend on the underlying investment company's performance. Moreover, the Fund and its shareholders will incur its pro rata share of the underlying investment companies’ expenses, which will reduce the Fund’s performance, and the purchase of shares of some investment companies.

Municipal securities are subject to the risk that legislative or economic conditions could affect an issuer’s ability to make payments of principal and/ or interest.

The Fund’s income may decline when interest rates fall if it holds a significant portion of short duration securities and/or securities with floating or variable interest rates. If the Fund invests in lower yielding bonds, as the bond’s portfolio mature; the Fund will need to purchase additional bonds, thereby reducing its income.

The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind.

Derivatives may be more volatile and less liquid than traditional investments and are subject to market, interest rate, credit, leverage, counterparty and management risks. An investment in a derivative could lose more than the cash amount invested.

Investments in loans involve special types of risks, including credit risk, interest rate risk, counterparty risk and prepayment risk. Loans may offer a fixed or floating interest rate, generally below investment grade and may be unrated. Loans can be difficult to value accurately and may be more susceptible to liquidity risk than other fixed-income securities. The value of the loan's collateral may be insufficient to cover the borrower’s obligations should the borrower fail to make payments or become insolvent.

The credit research process utilized by the Fund to implement its investment strategy in pursuit of its investment objective considers factors that include, but are not limited to, an issuer's operations, capital structure and environmental, social and governance ("ESG") considerations. Credit quality analysis therefore may consider whether any ESG factors pose a material financial risk or opportunity to an issuer.

The investment techniques and risk analysis used by the portfolio managers may not produce the desired results.

The Bloomberg U.S. Aggregate Bond Index is an unmanaged index considered representative of the US investment-grade, fixed-rate bond market.