GTO - Invesco Total Return Bond ETF

Fixed Income - International and Global Fixed Income

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 11/30/2019 09/30/2019

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
Bloomberg Barclays U.S. Aggregate Bond Index 8.79 10.79 4.10 3.08 3.59 3.32
Fund History (%)
Fund NAV 11.28 12.36 6.17 N/A N/A 5.89
After Tax Held 10.20 10.35 4.56 N/A N/A 4.41
After Tax Sold 6.64 7.35 4.03 N/A N/A 3.87
Fund Market Price 11.30 12.35 6.20 N/A N/A 5.88
  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
Bloomberg Barclays U.S. Aggregate Bond Index 8.52 10.30 2.92 3.38 3.75 3.41
Fund History (%)
Fund NAV 10.47 10.51 5.09 N/A N/A 5.96
After Tax Held 9.55 8.41 3.48 N/A N/A 4.44
After Tax Sold 6.16 6.24 3.18 N/A N/A 3.90
Fund Market Price 10.55 10.56 5.04 N/A N/A 5.96

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 09/30/2019

Growth of $10,000

Data beginning Fund inception and ending 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 The results assume that no cash was added to or assets withdrawn from the Index.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.

as of 12/11/2019

Sector Allocation

Sector Percent of Fund
U.S. Government Securities 23.95%
U.S. Agency Securities 19.89%
Financials 11.93%
NonAgy ARM, Pass Thru, CMO, CMBS 10.75%
UnClassified 6.39%
Industrials 5.17%
Communication Services 3.83%
Real Estate 3.15%
Information Technology 2.87%
Consumer Discretionary 2.54%
Energy 2.53%
Materials 2.37%
Health Care 1.78%
Utilities 1.58%
Sovereign Debt 1.15%
CMOs 1.14%
Telecommunication Services 0.43%
Consumer Staples 0.43%
as of 12/11/2019

Currency Allocation

Currency Percentage
USD 99.71%
Euro 0.29%

Quality Allocations as of 12/11/2019

S&P Moody's
AAA : 7% Aaa : 46%
AA : 47% Aa : 1%
A : 8% A : 8%
BBB : 21% Baa : 17%
BB : 7% Ba : 6%
B : 1% B : 1%
CCC : 0% Caa : 0%
Not Rated : 6% Not Rated : 18%

Cash is excluded from the credit rating quality allocations table.

as of 12/11/2019

Maturity

Years % of Fund
0 - 1 years -0.88
1 - 5 years 23.40
5 - 10 years 27.60
10 - 15 years 11.66
15 - 20 years 3.63
20 - 25 years 0.41
25 years and over 34.18

as of 12/11/2019 Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
CBOT 2 Year US Treasury Note Future N/A 03/31/2020 N/A NR/NR 10.97%
United States Treasury Note/Bond 1.50% 11/30/2024 N/A AA+u/Aaa 8.91%
United States Treasury Note/Bond 1.62% 11/15/2022 N/A AA+u/Aaa 5.89%
United States Treasury Note/Bond 1.75% 11/15/2029 N/A AA+u/Aaa 5.14%
United States Treasury Note/Bond 1.62% 11/30/2026 N/A AA+u/Aaa 3.84%
United States Treasury Note/Bond 2.25% 08/15/2049 N/A AA+u/Aaa 3.19%
Fannie Mae Pool 3.00% 10/01/2049 N/A AA+u/Aaa 2.51%
CME Ultra Long Term US Treasury Bond Future N/A 03/20/2020 N/A NR/NR 2.36%
Corning Inc 5.45% 11/15/2079 05/15/2079 BBB+/Baa1 2.14%
Deephaven Residential Mortgage Trust 2019-4 2.79% 10/25/2059 11/25/2021 AAA/NR 1.55%

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

Distributions | HideView All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital
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%
09/30/2019 64 48 2 0 0 0 0
03/31/2019 61 52 1 0 0 0 0
12/31/2018 63 38 0 1 0 0 0
09/30/2018 63 36 0 0 0 0 0
Year Ended 2018 251 134 2 1 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 14 0 0 0 0 0
03/31/2019 61 7 1 0 0 0 0
12/31/2018 63 24 0 0 0 0 0
09/30/2018 63 27 0 0 0 0 0
Year Ended 2018 251 113 1 0 0 0 0

Fund Inception : 02/10/2016

 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.

The Fund is non-diversified and may experience greater volatility than a more diversified investment.

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.

Risks of collateralized loan obligations include the possibility that distributions from collateral securities will not be adequate to make interest or other payments, the quality of the collateral may decline in value or default, these loan obligations may be subordinate to other classes, values may be volatile, and disputes with the issuer may produce unexpected investment results.

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.

The risks of investing in securities of foreign issuers, including emerging market issuers, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.

Issuers of sovereign debt or governmental authorities that control repayment may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of default. Without debt holder approval, some governmental debtors may be able to reschedule or restructure their debt payments or declare moratoria on payments.

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.

Income generated from the Fund is based primarily on prevailing interest rates, which can vary widely over the short- and long-term. If interest rates drop, the Fund's income may drop as well. During periods of rising interest rates, an issuer may exercise its right to pay principal on an obligation later than expected, resulting in a decrease in the value of the obligation and in a decline in the Fund's 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 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 Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index considered representative of the US investment-grade, fixed-rate bond market.

as of 12/12/2019
2:10 PM EST

GTO
Intraday Stats

  • Last Trade $54.36
  • Current IIV $54.29
  • Change -$0.21
  • % Change -0.38%
as of 12/11/2019
  • NAV at market close $54.57
as of 12/11/2019

Fund Yield

  • SEC 30 Day Yield 2.32%
  • Distribution Rate 1.99%
as of 12/11/2019

Prior Close

  • Closing Price $54.57
  • Bid/Ask Midpoint $54.55
  • Bid/Ask Prem/Disc -$0.02
  • Bid/Ask Prem/Disc -0.04%
as of 12/06/2019

Fund Characteristics

  • Effective Duration 5.88 yrs
  • Modified Duration 6.24 yrs
  • Yield to Maturity 2.82%
  • Yield to Worst 2.72%
  • Weighted Avg Life 9.51
  • Weighted Avg Coupon 2.53%
  • Weighted Premium/Discount -29.10%
  • Weighted Avg Price
    as of 12/11/2019
    0.00

Fund Details

  • Fund Ticker GTO
  • CUSIP # 46090A804
  • ISIN US46090A8045
  • Intraday NAV GTOIV
  • Management Fee 0.50%
  • Total Expense Ratio 0.52%
  • Fee Waiver 0.01%
  • Net Expense Ratio 0.51%
  • Marginable No
  • Short Selling No
  • Options No
  • Exchange NYSE Arca
  • Inception Date 02/10/2016
  • # of Holdings 272
    as of 12/11/2019
as of 12/12/2019

Quick Facts

  • Previous Close $54.57
  • Open $54.60
  • Today's High $54.60
  • Today's Low $54.30
  • Today's Volume 6,729
  • 26,082 30-Day Avg Trading
    Volume
  • 52 Week High $55.91
  • 52 Week Low $49.98
  • Shares Outstanding 3.50MM
  • Market Value $191.0MM