PSP - Invesco Global Listed Private Equity ETFAlternative - Private Equity
The Invesco Global Listed Private Equity ETF (Fund) is based on the Red Rocks Global Listed Private Equity Index (Index). The Fund will normally invest at least 90% of its total assets in securities, which may include American depository receipts and global depository receipts, that comprise the Index. The Index includes securities, ADRs and GDRs of 40 to 75 private equity companies, including business development companies (BDCs), master limited partnerships (MLPs) and other vehicles whose principal business is to invest in, lend capital to or provide services to privately held companies (collectively, listed private equity companies). The Fund and the Index are rebalanced and reconstituted quarterly.
|Index History (%)|
|Red Rocks Global Listed Private Equity Index||26.20||14.17||12.74||9.23||11.45||N/A|
|MSCI AC World Index||19.38||12.59||11.33||7.08||8.81||5.52|
|MSCI EAFE Index||16.86||11.04||8.48||4.31||5.41||2.92|
|Fund History (%)|
|After Tax Held||23.33||11.65||9.31||6.17||7.83||-1.29|
|After Tax Sold||14.74||7.74||8.35||5.79||7.30||-0.26|
|Fund Market Price||25.11||13.13||11.70||8.24||10.07||0.44|
|Index History (%)|
|Red Rocks Global Listed Private Equity Index||22.52||-0.34||10.83||8.56||10.69||N/A|
|MSCI AC World Index||16.20||1.38||9.71||6.65||8.35||5.33|
|MSCI EAFE Index||12.80||-1.34||6.48||3.27||4.90||2.66|
|Fund History (%)|
|After Tax Held||19.88||-2.39||7.51||5.57||7.08||-1.51|
|After Tax Sold||12.70||-0.65||6.94||5.33||6.67||-0.40|
|Fund Market Price||21.91||-0.87||9.89||7.76||9.05||0.24|
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 09/30/2019. Fund performance shown at NAV.
Red Rocks Global Listed Private Equity Index* performance prior to 9/30/2009 reflects that of the original Underlying Index Red Rocks Capital Listed Private Equity Index. From 9/30/2009, forward, the Index performance reflects that of the Underlying Index Red Rocks Global Listed Private Equity Index AND IS NOT INTENDED FOR ANY THIRD PARTY USE.
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
Market Cap & Style Allocations
as of 11/19/2019 Top Holdings | View All
Fund Holdings subject to change
|Ticker||Company||% of Fund|
|MRO LN||Melrose Industries PLC||6.00|
|PGHN SW||Partners Group Holding AG||5.72|
|III LN||3i Group PLC||5.23|
|KKR||KKR & Co Inc||3.53|
|BX||Blackstone Group Inc/The||3.40|
|656||Fosun International Ltd||3.32|
|CITI BROOKFIELD TRS ASSET LEG||3.13|
|ICP LN||Intermediate Capital Group PLC||2.93|
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.
Certain risks are inherent when investing in listed private equity companies, such as BDCs, other financial institutions or vehicles whose principal business is to invest in and lend capital to, or provide services to privately held companies. Little public information exists for private and thinly traded companies, and there risk that investors may not be able to make a fully informed investment decisions or that the issuer may default on its payments or declare bankruptcy. BDCs tend to invest in less mature private companies, which involve greater risk than well-established, publicly-traded companies.
A significant portion of the Underlying Index is composed of BDCs or other investment companies. The Fund may not acquire greater than 3% of the total outstanding shares of such companies. As a result, the Fund would be required to use sampling techniques, which could increase the risk of tracking error.
An MLP is an entity classified as a partnership under the Internal Revenue Code, and whose partnership interests or “units” are traded on exchanges like common stock. Investments in MLPs units are subject to risks inherent in the MLP's structure, including tax and management risks.
The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
Stocks of small and mid-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.
Investments focused in a particular sector, such as financials, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
Swaps involve greater risks than direct investments. Swaps are subject to leveraging, liquidity and counterparty risks, and therefore may be difficult to value. Adverse changes in the value or level of the swap can result in gains or losses that are substantially greater than invested, with the potential for unlimited loss.
Depositary receipts involve many of the same risks as a direct investment in foreign securities, and issuers of certain depositary receipts are under no obligation to distribute shareholder communications to the holders or to pass through to them any voting rights with respect to the deposited securities.
The Global Listed Private EquitySM Index includes between 40 and 60 publicly listed private equity companies, including business development companies and other financial institutions or vehicles whose principal business is to invest in and lend capital to privately held companies.
The Red Rocks Capital Listed Private Equity Index is comprised of 25 to 40 public companies which invest in, lend capital to, or provide services to privately held businesses. The Index represents a means of diversified exposure to private equity firms, as well as the consolidated exposure of the underlying portfolio investments.
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 product is not sponsored, endorsed, sold or promoted by Red Rocks Capital LLC, and Red Rocks makes no representation regarding the advisability of investing in this fund.