KBWD - Invesco KBW High Dividend Yield Financial ETFEquity - US Equity
The Invesco KBW High Dividend Yield Financial ETF is based on the KBW Nasdaq Financial Sector Dividend Yield Index. The Fund generally will invest at least 90% of its total assets in the securities of publicly listed financial companies with competitive dividend yields, in the United States and that comprise the Underlying Index. Keefe Bruyette & Woods, Inc. ("KBW Nasdaq" or the "Index Provider") compiles, maintains and calculates the Underlying Index, which is a modified-dividend yield-weighted index of companies principally engaged in the business of providing financial services and products, as determined by the Index provider. The Fund and the Index are rebalanced and reconstituted quarterly.
|Index History (%)|
|KBW Nasdaq Financial Sector Dividend Yield Index||18.54||6.89||6.64||5.27||10.44||8.33|
|S&P 500 Financials Index||28.67||14.16||12.41||10.98||11.79||12.64|
|Fund History (%)|
|After Tax Held||14.49||2.88||3.94||2.64||N/A||5.62|
|After Tax Sold||10.74||3.82||4.39||3.32||N/A||5.82|
|Fund Market Price||18.42||6.59||6.67||5.14||N/A||8.06|
|Index History (%)|
|KBW Nasdaq Financial Sector Dividend Yield Index||12.60||-0.38||7.01||5.45||9.91||7.86|
|S&P 500 Financials Index||19.60||3.92||15.46||10.51||10.77||11.96|
|Fund History (%)|
|After Tax Held||9.42||-3.46||4.38||2.84||N/A||5.19|
|After Tax Sold||7.33||0.03||4.80||3.54||N/A||5.51|
|Fund Market Price||12.54||-0.37||6.97||5.27||N/A||7.60|
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 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 The results assume that no cash was added to or assets withdrawn from the Index.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.
Market Cap & Style Allocations
as of 12/09/2019 Top Holdings | View All
Fund Holdings subject to change
|Ticker||Company||% of Fund|
|ORC||Orchid Island Capital Inc||4.75|
|AI||Arlington Asset Investment Corp||4.35|
|NRZ||New Residential Investment Corp||4.11|
|DX||Dynex Capital Inc||3.91|
|AGNC||AGNC Investment Corp||3.88|
|FSK||FS KKR Capital Corp||3.86|
|TWO||Two Harbors Investment Corp||3.82|
|WMC||Western Asset Mortgage Capital Corp||3.79|
|MITT||AG Mortgage Investment Trust Inc||3.58|
|NLY||Annaly Capital Management Inc||3.53|
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 sector, such as financials, are subject to greater risk and are more greatly impacted by market volatility, than more diversified investments.
Securities that pay high dividends as a group can fall out of favor with the market, causing such companies to underperform companies that do not pay high dividends.
Although the Fund will not invest in real estate directly, REITs in which the Fund invests are subject to risks inherent in the direct ownership of real estate. Risks include, but are not limited to, a possible lack of mortgage funds and associated interest rate risks, overbuilding, property vacancies, increases in property taxes and operating expenses, changes in zoning laws, losses due to environmental damages and changes in neighborhood values and appeal to purchasers.
There are certain risks inherent in investing in Business Development Corporations ("BDCs") and the Investment Company Act of 1940, as amended (the "1940 Act"), imposes certain restraints upon BDCs. Generally, little public information exists for private and thinly traded companies; as a result investors may not be able to make a fully informed decision. Limitations on asset mix and leverage may also prohibit the way BDCs raise capital. BDCs generally invest in less mature private companies which involve greater risk than well-established publicly-traded companies. As a result of the Fund investing in BDCs, a shareholder will bear not only their proportionate share of the expenses of the Fund, but also, indirectly the expenses of the BDCs.
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.
The S&P 500® Financials Index seeks to provide an effective representation of the financial sector of the S&P 500® Index.
The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.
"Keefe, Bruyette & Woods, Inc.", "KBW Nasdaq Financial Sector pidend Yield Index" and "KBW" are trademarks of KBW and have been licensed for use by Invesco Capital Management LLC. The Invesco KBW High Dividend Yield Financial ETF is not sponsored, endorsed, sold or promoted by KBW and KBW makes no representation regarding the advisability of investing in The Invesco KBW High Dividend Yield Financial ETF. Invesco Capital Management LLC is not affiliated with KBW.
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.