PGHY

Fixed Income | International and Global Fixed Income

Invesco Global Short Term High Yield Bond ETF

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  • Invesco S&P 500 Equal Weight Consumer Discretionary ETF
  • Invesco S&P 500 Equal Weight Consumer Staples ETF
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  • Invesco S&P 500 Equal Weight Financials ETF
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  • Invesco S&P 500 Equal Weight Materials ETF
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  • Invesco S&P 500 Value with Momentum ETF
  • Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF
  • Invesco S&P Emerging Markets Low Volatility ETF
  • Invesco S&P Emerging Markets Momentum ETF
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  • Invesco S&P International Developed Low Volatility ETF
  • Invesco S&P International Developed Momentum ETF
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  • Invesco S&P MidCap 400 Pure Growth ETF
  • Invesco S&P MidCap 400 Pure Value ETF
  • Invesco S&P MidCap 400 Revenue ETF
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  • Invesco S&P MidCap Momentum ETF
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  • Invesco S&P SmallCap 600 Pure Value ETF
  • Invesco S&P SmallCap 600 Revenue ETF
  • Invesco S&P SmallCap Consumer Discretionary ETF
  • Invesco S&P SmallCap Consumer Staples ETF
  • Invesco S&P SmallCap Energy ETF
  • Invesco S&P SmallCap Financials ETF
  • Invesco S&P SmallCap Health Care ETF
  • Invesco S&P SmallCap High Dividend Low Volatility ETF
  • Invesco S&P SmallCap Industrials ETF
  • Invesco S&P SmallCap Information Technology ETF
  • Invesco S&P SmallCap Low Volatility ETF
  • Invesco S&P SmallCap Materials ETF
  • Invesco S&P SmallCap Momentum ETF
  • Invesco S&P SmallCap Quality ETF
  • Invesco S&P SmallCap Utilities & Communication Services ETF
  • Invesco S&P SmallCap Value with Momentum ETF
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  • Invesco S&P Ultra Dividend Revenue ETF
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  • Invesco Taxable Municipal Bond ETF
  • Invesco Total Return Bond ETF
  • Invesco Treasury Collateral ETF
  • Invesco Ultra Short Duration ETF
  • Invesco VRDO Tax-Free Weekly ETF
  • Invesco Variable Rate Investment Grade ETF
  • Invesco Variable Rate Preferred ETF
  • Invesco Water Resources ETF
  • Invesco WilderHill Clean Energy ETF
  • Invesco Zacks Mid-Cap ETF
  • Invesco Zacks Multi-Asset Income ETF

Product Details

The Invesco Global Short Term High Yield Bond ETF (the "Fund") is based on the DB Global Short Maturity High Yield Bond Index (the "Index"). The Fund generally will invest at least 80% of its total assets in US and foreign short-term, non-investment grade bonds that comprise the Index, all of which are denominated in US dollars. 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 quarterly and re-weighted annually.

as of 04/30/2020 03/31/2020

Performance

Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
DB Global Short Maturity High Yield Bond Index -10.09 -7.97 -0.83 3.63 N/A 3.62
ICE BofAML 0-5 Year US High Yield Constrained Index -10.60 -7.89 0.40 2.41 N/A 3.12
Fund History (%)
Fund NAV -8.04 -6.26 -0.48 2.76 N/A 2.60
After Tax Held -8.76 -8.30 -2.63 0.43 N/A 0.43
After Tax Sold -4.75 -3.63 -1.22 1.12 N/A 1.05
Fund Market Price -8.43 -6.82 -0.74 2.68 N/A 2.56
Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
DB Global Short Maturity High Yield Bond Index -11.66 -9.03 -1.13 3.69 N/A 3.40
ICE BofAML 0-5 Year US High Yield Constrained Index -13.07 -9.61 -0.22 2.04 N/A 2.73
Fund History (%)
Fund NAV -9.43 -7.23 -0.78 2.67 N/A 2.41
After Tax Held -9.95 -9.23 -2.94 0.36 N/A 0.24
After Tax Sold -5.56 -4.18 -1.44 1.07 N/A 0.91
Fund Market Price -11.33 -9.81 -1.70 2.36 N/A 2.11

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.

as of 03/31/2020

Growth of $10,000

Data beginning Fund inception and ending 03/31/2020. 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 05/22/2020

Sector Allocation

Sector Percent of Fund
Financials 24.95%
Energy 10.74%
Sovereign Debt 9.52%
Consumer Discretionary 9.26%
Materials 8.02%
Industrials 7.34%
Communication Services 6.54%
Real Estate 6.48%
Information Technology 4.51%
Utilities 4.08%
Consumer Staples 3.58%
Health Care 2.41%
Telecommunication Services 2.39%
UnClassified 0.18%
as of 05/22/2020

Top Country Allocation

Country Percentage
United States 39.25%
China 10.99%
Turkey 7.28%
Brazil 6.12%
Russia 4.70%
Canada 2.93%
South Africa 2.16%
India 2.14%
Indonesia 2.10%
Argentina 1.51%

Quality Allocations as of 05/22/2020

S&P Moody's
BBB : 3% Baa : 4%
BB : 39% Ba : 39%
B : 22% B : 26%
CCC : 7% Caa : 10%
CC : 0% Ca : 1%
C : 1% C : 1%
Not Rated : 27% Not Rated : 20%

Cash is excluded from the credit rating quality allocations table.

as of 05/22/2020

Maturity

Years % of Fund
0 - 1 years 34.85
1 - 5 years 64.38
5 - 10 years 0.00
10 - 15 years 0.00
15 - 20 years 0.00
20 - 25 years 0.00
25 years and over 0.77

as of 05/22/2020 Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
Credit Bank of Moscow Via CBOM Finance PLC 5.88% 11/07/2021 N/A BB-/NR 0.52%
Turkiye Halk Bankasi AS 4.75% 02/11/2021 N/A NA/B3u 0.51%
Hazine Mustesarligi Varlik Kiralama AS 4.25% 06/08/2021 N/A NR/B1 0.51%
Eskom Holdings SOC Ltd 5.75% 01/26/2021 N/A CCC+/Caa1 0.49%
Alfa Bank AO Via Alfa Bond Issuance PLC 7.75% 04/28/2021 N/A BB+/Ba1 0.47%
Scenery Journey Ltd 11.00% 11/06/2020 N/A B/B2 0.45%
Easy Tactic Ltd 8.75% 01/10/2021 N/A NR/NR 0.45%
Fortune Star BVI Ltd 5.38% 12/05/2020 N/A BB/Ba2 0.45%
Centrais Eletricas Brasileiras SA 5.75% 10/27/2021 N/A BB-/Ba3 0.43%
Ukraine Government International Bond 7.75% 09/01/2021 N/A B/Caa1u 0.43%

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 Liquidation Distribution
05/18/2020 05/19/2020 05/29/2020 0.10016 0.10016 - - - -
04/20/2020 04/21/2020 04/30/2020 0.10278 0.10278 - - - -
03/23/2020 03/24/2020 03/31/2020 0.10071 0.10071 - - - -
02/24/2020 02/25/2020 02/28/2020 0.10238 0.10238 - - - -
01/21/2020 01/22/2020 01/31/2020 0.10462 0.10462 - - - -
12/23/2019 12/24/2019 12/31/2019 0.10448 0.10448 - - - -
11/18/2019 11/19/2019 11/29/2019 0.10282 0.10282 - - - -
10/21/2019 10/22/2019 10/31/2019 0.10300 0.10300 - - - -
09/23/2019 09/24/2019 09/30/2019 0.10099 0.10099 - - - -
08/19/2019 08/20/2019 08/30/2019 0.09808 0.09808 - - - -
07/22/2019 07/23/2019 07/31/2019 0.09725 0.09725 - - - -
06/24/2019 06/25/2019 06/28/2019 0.09656 0.09656 - - - -
05/20/2019 05/21/2019 05/31/2019 0.09750 0.09750 - - - -
04/22/2019 04/23/2019 04/30/2019 0.10125 0.10125 - - - -
03/18/2019 03/19/2019 03/29/2019 0.09876 0.09876 - - - -
02/19/2019 02/20/2019 02/28/2019 0.09968 - - - - -
01/22/2019 01/23/2019 01/31/2019 0.11352 0.11352 - - - -
12/24/2018 12/26/2018 12/31/2018 0.09827 0.09827 - - - -
11/19/2018 11/20/2018 11/30/2018 0.09932 0.09932 - - - -
10/22/2018 10/23/2018 10/31/2018 0.10970 0.10970 - - - -
09/24/2018 09/25/2018 09/28/2018 0.10236 0.10236 - - - -
08/20/2018 08/21/2018 08/31/2018 0.10800 0.10800 - - - -
07/23/2018 07/24/2018 07/31/2018 0.10750 0.10750 - - - -
06/18/2018 06/19/2018 06/29/2018 0.10500 0.10500 - - - -
05/21/2018 05/22/2018 05/31/2018 0.10918 0.10918 - - - -
04/23/2018 04/24/2018 04/30/2018 0.10737 0.10737 - - - -
03/19/2018 03/20/2018 03/29/2018 0.09975 0.09975 - - - -
02/20/2018 02/21/2018 02/28/2018 0.09925 0.09925 - - - -
01/22/2018 01/23/2018 01/31/2018 0.09201 0.09201 - - - -
12/18/2017 12/19/2017 12/29/2017 0.10246 0.10246 - - - -
11/20/2017 11/21/2017 11/30/2017 0.10178 0.10178 - - - -
10/23/2017 10/24/2017 10/31/2017 0.10150 0.10150 - - - -
09/18/2017 09/19/2017 09/29/2017 0.10206 0.10206 - - - -
08/15/2017 08/17/2017 08/31/2017 0.10646 0.10646 - - - -
07/14/2017 07/18/2017 07/31/2017 0.11077 0.11077 - - - -
06/15/2017 06/19/2017 06/30/2017 0.11011 0.11011 - - - -
05/15/2017 05/17/2017 05/31/2017 0.10620 0.10620 - - - -
04/13/2017 04/18/2017 04/28/2017 0.11303 0.11303 - - - -
03/15/2017 03/17/2017 03/31/2017 0.11796 0.11796 - - - -
02/15/2017 02/17/2017 02/28/2017 0.12227 0.12227 - - - -
01/13/2017 01/18/2017 01/31/2017 0.12213 0.12213 - - - -
12/15/2016 12/19/2016 12/30/2016 0.13953 0.13953 - - - -
11/15/2016 11/17/2016 11/30/2016 0.13256 0.13256 - - - -
10/14/2016 10/18/2016 10/31/2016 0.18554 0.18554 - - - -
09/15/2016 09/19/2016 09/30/2016 0.15000 0.15000 - - - -
08/15/2016 08/17/2016 08/31/2016 0.14750 0.14750 - - - -
07/15/2016 07/19/2016 07/29/2016 0.14685 0.14685 - - - -
06/15/2016 06/17/2016 06/30/2016 0.13000 0.13000 - - - -
05/13/2016 05/17/2016 05/31/2016 0.12500 0.12500 - - - -
04/15/2016 04/19/2016 04/29/2016 0.10000 0.10000 - - - -
03/15/2016 03/17/2016 03/31/2016 0.09200 0.09200 - - - -
02/12/2016 02/17/2016 02/29/2016 0.09000 0.09000 - - - -
01/15/2016 01/20/2016 01/29/2016 0.09000 0.09000 - - - -
12/15/2015 12/17/2015 12/31/2015 0.09100 0.09100 - - - -
11/13/2015 11/17/2015 11/30/2015 0.09122 0.09122 - - - -
10/15/2015 10/19/2015 10/30/2015 0.08350 0.08350 - - - -
09/15/2015 09/17/2015 09/30/2015 0.08349 0.08349 - - - -
08/14/2015 08/18/2015 08/31/2015 0.09360 0.09360 - - - -
07/15/2015 07/17/2015 07/31/2015 0.08945 0.08945 - - - -
06/15/2015 06/17/2015 06/30/2015 0.08455 0.08455 - - - -
05/15/2015 05/19/2015 05/29/2015 0.08601 0.08601 - - - -
04/15/2015 04/17/2015 04/30/2015 0.08597 0.08597 - - - -
03/13/2015 03/17/2015 03/31/2015 0.08926 0.08926 - - - -
02/13/2015 02/18/2015 02/27/2015 0.08912 0.08912 - - - -
01/15/2015 01/20/2015 01/30/2015 0.08608 0.08608 - - - -
12/15/2014 12/17/2014 12/31/2014 0.08473 0.08473 - - - -
11/14/2014 11/18/2014 11/28/2014 0.08435 0.08435 - - - -
10/15/2014 10/17/2014 10/31/2014 0.08388 0.08388 - - - -
09/15/2014 09/17/2014 09/30/2014 0.08500 0.08500 - - - -
08/15/2014 08/19/2014 08/29/2014 0.08300 0.08300 - - - -
07/15/2014 07/17/2014 07/31/2014 0.08800 0.08800 - - - -
06/13/2014 06/17/2014 06/30/2014 0.08733 0.08733 - - - -
05/15/2014 05/19/2014 05/30/2014 0.08803 0.08803 - - - -
04/15/2014 04/17/2014 04/30/2014 0.08734 0.08734 - - - -
03/14/2014 03/18/2014 03/31/2014 0.09000 0.09000 - - - -
02/14/2014 02/19/2014 02/28/2014 0.08846 0.08846 - - - -
01/15/2014 01/17/2014 01/31/2014 0.07713 0.07713 - - - -
12/13/2013 12/17/2013 12/31/2013 0.08400 0.08400 - - - -
11/15/2013 11/19/2013 11/29/2013 0.09440 0.09440 - - - -
10/15/2013 10/17/2013 10/31/2013 0.09900 0.09900 - - - -
09/13/2013 09/17/2013 09/30/2013 0.09900 0.09900 - - - -
08/15/2013 08/19/2013 08/30/2013 0.09900 0.09900 - - - -

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%
03/31/2020 62 14 9 0 0 0 0
12/31/2019 64 37 1 0 0 0 0
09/30/2019 64 33 18 1 0 0 0
06/30/2019 63 43 7 0 0 0 0
Year Ended 2019 252 138 26 2 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%
03/31/2020 62 14 6 2 2 0 15
12/31/2019 64 26 0 0 0 0 0
09/30/2019 64 12 0 0 0 0 0
06/30/2019 63 13 0 0 0 0 0
Year Ended 2019 252 80 5 1 0 0 0

Fund Inception : 06/20/2013

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. 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.

Non-investment grade securities may be subject to greater price volatility due to specific corporate developments, interest-rate sensitivity, negative perceptions of the market, adverse economic and competitive industry conditions and decreased market liquidity.

The Fund will invest in bonds with short-term maturity (three years or less) which may have additional risks, including interest rate changes over the life of the bond. The average maturity of the Fund's investments will affect the volatility of the Fund's share price.

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

Issuers of sovereign debt or the 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.

The Fund may invest in obligations issued or guaranteed by supranational entities. If one or more shareholders fails to make necessary additional capital contributions, the entity may be unable to pay interest or repay principal on its debt securities.

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 industry or sector are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

The performance of an investment concentrated in issuers of a certain region or country is expected to be closely tied to conditions within that region and to be more volatile than more geographically diversified investments.

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 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.

The ICE BofAML 0-5 Year US High Yield Constrained Index is an unmanaged index comprised of US dollar-denominated, below investment-grade corporate debt securities publicly issued in the US domestic market with remaining maturities of less than five years.

The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.

"Deutsche Bank" and the DB Global Short Maturity High Yield Bond Index are reprinted with permission. © Copyright 2017 Deutsche Bank AG. All rights reserved. "Deutsche Bank" is a service mark of Deutsche Bank AG and has been licensed for use for certain purposes by the adviser. The Fund is not sponsored, endorsed, sold or promoted by Deutsche Bank AG or any of its affiliates of subsidiaries. Deutsche Bank AG and Deutsche Bank Securities Inc., as Index Provider, make no representation, express or implied, regarding the advisability of investing in this product. As the Index Provider, Deutsche Bank AG and Deutsche Bank Securities Inc. are licensing certain trademarks, the underlying Index and trade names which are composed by Deutsche Bank AG and Deutsche Bank Securities Inc. without regard to this Index, this product or any investor.

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.