IHYV - Invesco Corporate Income Value ETF

Fixed Income - US Fixed Income
The Fund's final day of trading will occur on Friday, February 14, 2020. After market close on that date the Fund will no longer trade on an Exchange and will be subsequently delisted. The final distribution to shareholders of the Fund is expected to occur on or about February 26, 2020. Please see the Fund's prospectus for further information.

Product Details

The Invesco Corporate Income Value ETF (Fund) is based on the Invesco High Yield Value Index (Index). The Fund generally will invest at least 80% of its total assets in securities that comprise the Index, which is designed to provide exposure to higher value, U.S. high yield bonds and bonds with the lowest credit rating considered investment grade. Higher value bonds are characterized as those with higher yields that may provide greater returns in certain markets. In addition, the Index seeks to incorporate securities with the highest quality scores within the eligible universe of U.S. bonds. All eligible bonds are assigned a quality adjusted value (QAV) score, which is calculated based on a combination of value and quality factors or characteristics. The QAV score is calculated as a weighted-average combination of the Value Score (90%) and the Quality Score (10%). The Fund does not purchase all the securities in the Index; instead, it utilizes a “sampling” methodology to seek to achieve its investment objective. The Fund and the index are rebalanced monthly.

as of 11/30/2019 09/30/2019

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
Invesco High Yield Value Index 11.67 9.35 N/A N/A N/A 5.64
iBoxx USD Liquid High Yield Index 12.46 10.03 6.26 5.01 6.98 6.95
Fund History (%)
Fund NAV 10.64 8.34 N/A N/A N/A 4.73
After Tax Held 8.06 5.47 N/A N/A N/A 2.08
After Tax Sold 6.26 4.88 N/A N/A N/A 2.47
Fund Market Price 11.02 9.05 N/A N/A N/A 5.27
  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
Invesco High Yield Value Index 11.37 6.24 N/A N/A N/A 6.22
iBoxx USD Liquid High Yield Index 11.56 6.86 5.81 4.97 7.07 7.24
Fund History (%)
Fund NAV 10.11 4.89 N/A N/A N/A 5.00
After Tax Held 7.99 2.11 N/A N/A N/A 2.32
After Tax Sold 5.95 2.83 N/A N/A N/A 2.66
Fund Market Price 10.32 5.32 N/A N/A N/A 5.47

This is a new Fund and has no full-year Fund performance to report as of most recent quarter end.

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. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

as of 09/30/2019

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.

as of 12/13/2019

Sector Allocation

Sector Percent of Fund
Consumer Discretionary 19.94%
Energy 19.32%
Information Technology 11.95%
Industrials 11.40%
Communication Services 7.08%
Financials 6.10%
Consumer Staples 6.07%
Materials 5.33%
Real Estate 5.13%
Health Care 2.90%
Utilities 2.55%
Telecommunication Services 1.42%
UnClassified 0.82%

Quality Allocations as of 12/13/2019

S&P Moody's
BBB : 22% Baa : 18%
BB : 49% Ba : 33%
B : 25% B : 43%
CCC : 3% Caa : 3%
Not Rated : 1% Not Rated : 3%
as of 12/13/2019

Maturity

Years % of Fund
0 - 1 years 0.00
1 - 5 years 26.29
5 - 10 years 73.71
10 - 15 years 0.00
15 - 20 years 0.00
20 - 25 years 0.00
25 years and over 0.00

as of 12/13/2019 Top Fixed-Income Holdings | View All

Holding Name Coupon Rate Maturity Date Next Call Date S&P / Moody's Rating† Weight
Ford Motor Co 4.35% 12/08/2026 09/08/2026 BBB-/Ba1 1.27%
Conagra Brands Inc 4.85% 11/01/2028 08/01/2028 BBB-/Baa3 0.94%
Energy Transfer Operating LP 5.25% 04/15/2029 01/15/2029 BBB-/Baa3 0.92%
Netflix Inc 5.88% 11/15/2028 N/A BB-/Ba3 0.91%
Trimble Inc 4.90% 06/15/2028 03/15/2028 BBB-/Baa3 0.90%
Adient US LLC 7.00% 05/15/2026 05/15/2022 BB-/Ba2 0.90%
Energy Transfer Operating LP 4.95% 06/15/2028 03/15/2028 BBB-/Baa3 0.90%
Hughes Satellite Systems Corp 5.25% 08/01/2026 N/A BBB-/Ba1 0.90%
Motorola Solutions Inc 4.60% 05/23/2029 02/23/2029 BBB-/Baa3 0.90%
Broadcom Inc 4.75% 04/15/2029 01/15/2029 BBB-/Baa3 0.89%

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 0.11996 0.11996 - - -
10/21/2019 10/22/2019 10/31/2019 0.12618 0.12618 - - -
09/23/2019 09/24/2019 09/30/2019 0.12527 0.12527 - - -
08/19/2019 08/20/2019 08/30/2019 0.12276 0.12276 - - -
07/22/2019 07/23/2019 07/31/2019 0.13589 0.13589 - - -
06/24/2019 06/25/2019 06/28/2019 0.13122 0.13122 - - -
05/20/2019 05/21/2019 05/31/2019 0.13501 0.13501 - - -
04/22/2019 04/23/2019 04/30/2019 0.13142 0.13142 - - -
03/18/2019 03/19/2019 03/29/2019 0.13438 0.13438 - - -
02/19/2019 02/20/2019 02/28/2019 0.11961 - - - -
01/22/2019 01/23/2019 01/31/2019 0.13511 0.13511 - - -
12/24/2018 12/26/2018 12/31/2018 0.19973 0.19973 - - -
11/19/2018 11/20/2018 11/30/2018 0.12574 0.12574 - - -
10/22/2018 10/23/2018 10/31/2018 0.11247 0.11247 - - -
09/24/2018 09/25/2018 09/28/2018 0.14173 0.14173 - - -
08/20/2018 08/21/2018 08/31/2018 0.08791 0.08791 - - -

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 36 17 1 0 0 0
03/31/2019 61 40 9 1 0 0 0
12/31/2018 63 14 1 1 0 0 0
09/30/2018 47 7 0 0 0 0 0
Year Ended 2018 110 21 1 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 9 1 0 0 0 0
03/31/2019 61 9 2 0 0 0 0
12/31/2018 63 29 12 5 1 0 0
09/30/2018 47 31 9 0 0 0 0
Year Ended 2018 110 60 21 5 1 0 0

Fund Inception : 07/25/2018

 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.

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.

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

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 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 fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index.

The Invesco High Yield Value 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. (ETF distributor) are wholly owned, indirect subsidiaries of Invesco Ltd.

The iBoxx USD Liquid High Yield Index consists of liquid USD high yield bonds, selected to provide a balanced representation of the broad USD high yield corporate bond universe.

as of 12/13/2019
4:15 PM EST

IHYV
Intraday Stats

  • Last Trade $24.90
  • Current IIV $24.74
  • Change $0.05
  • % Change 0.18%
as of 12/13/2019
  • NAV at market close $24.80
as of 12/13/2019

Fund Yield

  • SEC 30 Day Yield 6.01%
  • Distribution Rate 1.93%
  • 12 Month Distribution Rate 6.52%
  • 30-Day SEC Unsubsidized Yield
    as of 12/13/2019
    6.06%
as of 12/13/2019

Prior Close

  • Closing Price $24.86
  • Bid/Ask Midpoint $24.90
  • Bid/Ask Prem/Disc $0.10
  • Bid/Ask Prem/Disc 0.40%
as of 12/13/2019

Fund Characteristics

  • Effective Duration 3.94 yrs
  • Modified Duration 4.02 yrs
  • Yield to Maturity 6.12%
  • Yield to Worst 5.90%
  • Years to Maturity 6.04
  • Weighted Avg Life N/A
  • Weighted Avg Coupon 5.92%
  • Weighted Avg Price
    as of 12/13/2019
    99.82

Fund Details

  • Fund Ticker IHYV
  • CUSIP # 46139W403
  • ISIN US46139W4033
  • Intraday NAV IHYVIV
  • Index Ticker IIHYV
  • Index Provider Invesco Indexing
  • Management Fee 0.23%
  • Total Expense Ratio 0.23%
  • Marginable Yes
  • Short Selling Yes
  • Options No
  • Exchange NYSE Arca
  • Inception Date 07/25/2018
  • # of Holdings 158
    as of 12/13/2019
as of 12/13/2019

Quick Facts

  • Previous Close $24.86
  • Open $24.90
  • Today's High $24.92
  • Today's Low $24.88
  • Today's Volume 2,439
  • 1,878 30-Day Avg Trading
    Volume
  • 52 Week High $25.02
  • 52 Week Low $23.12
  • Shares Outstanding .50MM
  • Market Value $12.4MM