PPA - Invesco Aerospace & Defense ETFEquity - Sector Equity
The Invesco Aerospace & Defense ETF (Fund) is based on the SPADE™ Defense Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to identify a group of companies involved in the development, manufacturing, operations and support of US defense, homeland security and aerospace operations. The Fund and the Index are rebalanced and reconstituted quarterly.
Morningstar Rating ™Overall Rating - Industrials Category
As of 01/31/2020 the Fund had an overall rating of 5 stars out of 38 funds and was rated 5 stars out of 38 funds, 5 stars out of 36 funds and 5 stars out of 28 funds for the 3-, 5- and 10- year periods, respectively.
Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2020 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.
|Index History (%)|
|SPADE Defense Index||3.40||29.48||20.82||17.69||17.63||13.42|
|S&P Composite 1500 Aerospace & Defense Index||3.33||18.94||19.97||17.08||18.04||14.29|
|Fund History (%)|
|After Tax Held||3.35||28.42||19.86||16.66||16.60||12.47|
|After Tax Sold||1.98||17.19||15.89||13.68||14.35||10.90|
|Fund Market Price||3.40||28.52||20.09||16.95||16.89||12.70|
|Index History (%)|
|SPADE Defense Index||40.41||40.41||19.61||16.58||17.03||13.24|
|S&P Composite 1500 Aerospace & Defense Index||30.83||30.83||19.36||16.28||17.65||14.11|
|Fund History (%)|
|After Tax Held||39.01||39.01||18.60||15.52||15.98||12.28|
|After Tax Sold||23.41||23.41||14.85||12.71||13.79||10.71|
|Fund Market Price||40.15||40.15||18.83||15.82||16.27||12.52|
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 12/31/2019. 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
Quality Allocations† as of 02/21/2020
|A : 7%||A : 0%|
as of 02/21/2020 Top Holdings | View All
Fund Holdings subject to change
|Ticker||Company||% of Fund|
|LMT||Lockheed Martin Corp||7.48|
|HON||Honeywell International Inc||6.96|
|UTX||United Technologies Corp||6.92|
|NOC||Northrop Grumman Corp||5.57|
|GD||General Dynamics Corp||4.85|
|LHX||L3Harris Technologies Inc||4.21|
|TDG||TransDigm Group Inc||4.04|
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 industry, such as aerospace and defense, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
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 Fund is non-diversified and may experience greater volatility than a more diversified investment.
The S&P Composite 1500® Aerospace & Defense (S&P Aerospace & Defense) Index consists of all aerospace and defense stocks included in the S&P Composite 1500® 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.
The SPADE Defense Index is a trademark of ISBC LLC and is licensed for use by Invesco Capital Management LLC in connection with the Invesco Aerospace & Defense ETF. ISBC's only relationship to Invesco is ISBC's licensing to Invesco certain ISBC trademarks, Indexes and trade names, which are composed by ISBC without regard to Invesco, this Product or any investor, and ISBC makes no warranty or representation regarding the advisability of purchasing, holding or trading this Product.