DEF - Invesco Defensive Equity ETF
Equity - US EquityProduct Details
The Invesco Defensive Equity ETF (Fund) is based on the Invesco Defensive Equity Index (Index). The Fund will invest at least 80% of its total assets in securities that comprise the Index. The Index is designed to provide exposure to securities of large-cap US issuers. The Index uses a rules-based approach to select companies that potentially have superior risk-return profiles during periods of stock market weakness while still offering the potential for gains during periods of market strength. The Index is computed using the gross total return, which reflects dividends paid. The Fund and the Index are rebalanced quarterly.
Morningstar Rating ™
Overall Rating - Large Blend CategoryAs of 11/30/2019 the Fund had an overall rating of 4 stars out of 1196 funds and was rated 4 stars out of 1196 funds, 3 stars out of 1051 funds and 5 stars out of 798 funds for the 3-, 5- and 10- year periods, respectively.
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. ©2019 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.
Performance
| YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception | |
|---|---|---|---|---|---|---|
| Index History (%) | ||||||
| Invesco Defensive Equity Index | 26.96 | 16.14 | 15.06 | N/A | N/A | N/A |
| S&P 500 Index | 27.63 | 16.11 | 14.88 | 10.98 | 13.44 | 8.55 |
| Fund History (%) | ||||||
| Fund NAV | 26.29 | 15.53 | 14.37 | 9.85 | 12.77 | 8.48 |
| After Tax Held | 26.29 | 15.13 | 13.62 | 8.87 | 11.84 | 7.66 |
| After Tax Sold | 15.57 | 9.35 | 10.89 | 7.25 | 10.12 | 6.54 |
| Fund Market Price | 26.89 | 15.62 | 14.37 | 9.83 | 12.76 | 8.47 |
| YTD | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception | |
|---|---|---|---|---|---|---|
| Index History (%) | ||||||
| Invesco Defensive Equity Index | 23.67 | 10.63 | 14.31 | N/A | N/A | N/A |
| S&P 500 Index | 20.55 | 4.25 | 13.39 | 10.84 | 13.24 | 8.18 |
| Fund History (%) | ||||||
| Fund NAV | 23.13 | 10.04 | 13.61 | 9.99 | 12.82 | 8.38 |
| After Tax Held | 23.13 | 9.67 | 12.86 | 9.01 | 11.89 | 7.55 |
| After Tax Sold | 13.70 | 6.10 | 10.28 | 7.37 | 10.18 | 6.44 |
| Fund Market Price | 23.81 | 10.12 | 13.51 | 9.98 | 12.89 | 8.38 |
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.
Growth of $10,000
Data beginning 10 years prior to the ending date of 09/30/2019. 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.
Guggenheim Defensive Equity Index* performance prior to 10/24/2016 reflects that of the original Underlying Index, Sabrient Defense Equity Index. From 10/24/2016, forward, the Index performance reflects that of the Underlying Index, Guggenheim Defensive Equity Index AND IS NOT INTENDED FOR ANY THIRD PARTY USE.
Sector Allocation
| Sector | Percent of Fund |
|---|---|
| Financials | 17.95% |
| Information Technology | 14.17% |
| Industrials | 14.08% |
| Health Care | 14.02% |
| Consumer Staples | 9.75% |
| Consumer Discretionary | 6.57% |
| Communication Services | 5.87% |
| Real Estate | 5.04% |
| Utilities | 4.81% |
| Materials | 3.99% |
| Energy | 3.73% |
Market Cap & Style Allocations
| Large-Cap Value | 20.91% |
| Large-Cap Blend | 40.73% |
| Large-Cap Growth | 17.58% |
| Mid-Cap Value | 3.02% |
| Mid-Cap Blend | 10.78% |
| Mid-Cap Growth | 6.98% |
| Small-Cap Value | - |
| Small-Cap Blend | - |
| Small-Cap Growth | - |
as of 12/10/2019 Top Holdings | View All
Fund Holdings subject to change
| Ticker | Company | % of Fund |
|---|---|---|
| ALLE | Allegion PLC | 1.21 |
| GRMN | Garmin Ltd | 1.12 |
| APH | Amphenol Corp | 1.12 |
| JPM | JPMorgan Chase & Co | 1.12 |
| PNC | PNC Financial Services Group Inc/The | 1.12 |
| EMR | Emerson Electric Co | 1.12 |
| BLK | BlackRock Inc | 1.11 |
| BAC | Bank of America Corp | 1.11 |
| CTXS | Citrix Systems Inc | 1.11 |
| FISV | Fiserv Inc | 1.09 |
Distributions | HideView All | Distribution Information
| Ex-Date | Record Date | Pay Date | $/ Share |
Ordinary Income | Short Term Gains | Long Term Gains | Return of Capital |
|---|---|---|---|---|---|---|---|
| 12/24/2018 | 12/26/2018 | 12/31/2018 | 0.61283 | 0.61283 | - | - | - |
| 12/26/2017 | 12/27/2017 | 12/29/2017 | 0.75830 | 0.75830 | - | - | - |
| 12/23/2016 | 12/28/2016 | 12/30/2016 | 0.84750 | 0.84750 | - | - | - |
| 12/24/2015 | 12/29/2015 | 12/31/2015 | 1.15150 | 1.15150 | - | - | - |
| 12/24/2014 | 12/29/2014 | 12/31/2014 | 0.96300 | 0.96300 | - | - | - |
| 12/24/2013 | 12/27/2013 | 12/31/2013 | 0.78700 | 0.78700 | - | - | - |
| 12/24/2012 | 12/27/2012 | 12/31/2012 | 0.74700 | 0.74700 | - | - | - |
| 12/23/2011 | 12/28/2011 | 12/30/2011 | 0.37500 | 0.37500 | - | - | - |
| 12/27/2010 | 12/29/2010 | 12/31/2010 | 0.38800 | 0.38800 | - | - | - |
| 12/24/2009 | 12/29/2009 | 12/31/2009 | 0.56300 | 0.56300 | - | - | - |
| 12/24/2008 | 12/29/2008 | 12/31/2008 | 0.50000 | 0.50000 | - | - | - |
Distribution Information
QQQ/BLDRs (ADRA, ADRD, ADRE, and ADRU)
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% |
| 09/30/2019 | 64 | 40 | 0 | 0 | 0 | 0 | 0 |
| 03/31/2019 | 61 | 23 | 0 | 0 | 0 | 0 | 0 |
| 12/31/2018 | 63 | 31 | 1 | 0 | 0 | 0 | 0 |
| 09/30/2018 | 63 | 32 | 0 | 0 | 0 | 0 | 0 |
| Year Ended 2018 | 251 | 105 | 1 | 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% |
| 09/30/2019 | 64 | 23 | 1 | 0 | 0 | 0 | 0 |
| 03/31/2019 | 61 | 36 | 2 | 0 | 0 | 0 | 0 |
| 12/31/2018 | 63 | 28 | 2 | 1 | 0 | 0 | 0 |
| 09/30/2018 | 63 | 31 | 0 | 0 | 0 | 0 | 0 |
| Year Ended 2018 | 251 | 142 | 2 | 1 | 0 | 0 | 0 |
Fund Inception : 12/15/2006
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.
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.
The Fund is non-diversified and may experience greater volatility than a more diversified investment.
The fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index.
The Fund seeks to track a quantitative strategy index, which invests in securities comprising an index created by a proprietary quantitative model. The Fund’s return depends on the effectiveness of the model and factors used in the model’s quantitative analysis and the weightings may not accurately predict a security’s value. As a result, the Fund may have a lower return than if it tracked an index based on a fundamental investment strategy, or that did not incorporate quantitative analysis.
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 Sabrient Defensive Equity Index is composed of stocks selected from a broad universe of US stocks and American depositary receipts (ADRs), based on their risk-return profiles during periods of stock market weakness and return potential during periods of market strength.
Invesco Defensive Equity Index is a trademark of Invesco Indexing LLC (index provider) and has been licensed for use by Invesco Capital Management LLC (investment adviser). Invesco Indexing LLC, Invesco Capital Management LLC, and Invesco Distributors, Inc. are wholly owned, indirect subsidiaries of Invesco Ltd.