TAO - Invesco China Real Estate ETF

Equity - International and Global Equity
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 China Real Estate ETF (Fund) is based on the AlphaShares China Real Estate Index (Index). The Fund will generally invest at least 90% of its total assets in the securities (including American depositary receipts (“ADRs”) and global depositary receipts (“GDRs”)). The Index is designed to measure and monitor the performance of the investable universe of publicly-traded companies and real estate investment trusts ("REITs") deriving a majority of their revenues from real estate development, management and/or ownership of property in China or Hong Kong and Macau. The Fund and the Index are rebalanced annually.

as of 11/30/2019

Morningstar Rating

Overall Rating - China Region Category

As of 11/30/2019 the Fund had an overall rating of 4 stars out of 74 funds and was rated 4 stars out of 74 funds, 4 stars out of 70 funds and 3 stars out of 40 funds for the 3-, 5- and 10- year periods, respectively.

Morningstar details

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. ©2019 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.

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

Performance

  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
AlphaShares China Real Estate Index 7.21 5.67 13.37 8.76 7.44 4.75
MSCI China Index 13.96 7.07 10.96 6.03 4.55 2.29
Fund History (%)
Fund NAV 6.58 5.14 12.61 8.23 6.81 3.98
After Tax Held 6.58 2.13 10.32 6.24 5.43 2.74
After Tax Sold 3.89 3.03 8.77 5.46 4.75 2.49
Fund Market Price 7.50 3.99 12.83 8.36 6.77 3.97
  YTD 1Yr 3Yr 5Yr 10Yr Since Inception
Index History (%)
AlphaShares China Real Estate Index 1.86 0.92 9.39 9.24 7.31 4.36
MSCI China Index 7.62 -3.93 7.72 6.04 4.86 1.82
Fund History (%)
Fund NAV 1.27 0.35 8.62 8.67 6.65 3.58
After Tax Held 1.27 -2.52 6.42 6.67 5.27 2.34
After Tax Sold 0.75 0.29 5.70 5.85 4.65 2.19
Fund Market Price 1.85 0.99 7.94 8.58 6.63 3.56

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 the result of a reorganization on April 6, 2018, the returns presented reflect performance of the Guggenheim predecessor fund. Invesco is not affiliated with Guggenheim.

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
Real Estate 100.00%

as of 12/13/2019 Top Holdings | View All

Fund Holdings subject to change

Ticker Company % of Fund
1918 Sunac China Holdings Ltd 6.24
1109 China Resources Land Ltd 5.78
2007 Country Garden Holdings Co Ltd 5.45
688 China Overseas Land & Investment Ltd 5.03
16 Sun Hung Kai Properties Ltd 4.60
823 Link REIT 4.60
1113 CK Asset Holdings Ltd 4.12
3333 China Evergrande Group 4.08
12 Henderson Land Development Co Ltd 3.99
17 New World Development Co Ltd 3.80

Distributions | HideView All | Distribution Information

Ex-Date Record Date Pay Date $/
Share
Ordinary Income Short Term Gains Long Term Gains Return of Capital
12/24/2018 12/26/2018 12/31/2018 1.89724 1.89724 - - -
12/26/2017 12/27/2017 12/29/2017 1.64800 1.64800 - - -
12/23/2016 12/28/2016 12/30/2016 0.40270 0.40270 - - -
12/24/2015 12/29/2015 12/31/2015 0.97050 0.97050 - - -
12/24/2014 12/29/2014 12/31/2014 0.54400 0.54400 - - -
12/24/2013 12/27/2013 12/31/2013 0.65200 0.65200 - - -
12/24/2012 12/27/2012 12/31/2012 0.38800 0.38800 - - -
12/23/2011 12/28/2011 12/30/2011 0.19300 0.19300 - - -
12/27/2010 12/29/2010 12/31/2010 0.15300 0.15300 - - -
12/24/2009 12/29/2009 12/31/2009 0.57000 0.57000 - - -
12/24/2008 12/29/2008 12/31/2008 0.38300 0.38300 - - -

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 7 3 2 0 0 0
03/31/2019 61 8 9 22 6 1 1
12/31/2018 63 11 7 8 2 0 0
09/30/2018 63 6 3 3 0 0 0
Year Ended 2018 251 34 27 33 16 0 3
    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 13 8 22 5 2 2
03/31/2019 61 5 4 4 1 0 0
12/31/2018 63 9 7 12 3 3 1
09/30/2018 63 10 8 26 5 1 1
Year Ended 2018 251 36 24 54 12 6 6

Fund Inception : 12/18/2007

 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 real estate, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

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

Investing in securities of Chinese companies involves additional risks, including, but not limited to: the economy of China differs, often unfavorably, from the U.S. economy in such respects as structure, general development, government involvement, wealth distribution, rate of inflation, growth rate, allocation of resources and capital reinvestment, among others; the central government has historically exercised substantial control over virtually every sector of the Chinese economy through administrative regulation and/or state ownership; and actions of the Chinese central and local government authorities continue to have a substantial effect on economic conditions in China.

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

Stocks of micro-cap companies tend to involve substantially greater risks of loss and price fluctuations than more established companies.

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.

REITs are subject to additional risks than general real estate investments. The value of a REIT can depend on the structure and cash flow generated by the REIT. REITs concentrated in a limited number or type of properties, investments or narrow geographic areas are subject to the risks affecting those properties or areas to a greater extent than less concentrated investments. REITs are subject to certain requirements under federal tax law and may have expenses, including advisory and administration expenses. As a result, Fund will incur its pro rata share of the underlying expenses.

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 MSCI China Index is an unmanaged index considered representative of Chinese stocks. The index is computed using the net return, which withholds applicable taxes for non-resident investors.

The fund is not sponsored, endorsed, sold, or promoted by AlphaShares, Inc. ("licensor"). Licensor makes no representation or warranty, express or implied, regarding the advisability of investing in securities generally or in the fund particularly or the ability of the AlphaShares China Real Estate Index ("index") to track general market performance. Licensor's only relationship to Invesco Capital Management LLC ("licensee") is the licensing of the index which is determined, composed and calculated by licensor without regard to licensee or the fund.

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

TAO
Intraday Stats

  • Last Trade $27.61
  • Current IIV $27.69
  • Change $0.28
  • % Change 1.01%
as of 12/13/2019
  • NAV at market close $27.70
as of 12/13/2019

Fund Yield

  • SEC 30 Day Yield 3.38%
  • Distribution Rate 6.85%
  • 12 Month Distribution Rate 6.85%
  • 30-Day SEC Unsubsidized Yield
    as of 12/13/2019
    3.44%
as of 12/13/2019

Prior Close

  • Closing Price $27.33
  • Bid/Ask Midpoint $27.62
  • Bid/Ask Prem/Disc -$0.08
  • Bid/Ask Prem/Disc -0.29%
as of 09/30/2019

Fund Characteristics

  • Price/Earnings Ratio1 7.79
  • Forward Price/Earnings Ratio 6.92
  • Price/Book Ratio1 0.62
  • ROE2 14.38%
  • Avg Market Cap2 $17,744MM

1 Weighted Harmonic Average

2 Weighted Average

Source for Fund Characteristics calculations: FactSet

Fund Details

  • Fund Ticker TAO
  • CUSIP # 46138E602
  • ISIN US46138E6023
  • Intraday NAV TAOIV
  • Index Ticker ACNRET
  • Index Provider AlphaShares, LLC
  • Management Fee 0.50%
  • Total Expense Ratio 0.77%
  • Fee Waiver 0.07%
  • Net Expense Ratio 0.70%
  • Marginable No
  • Short Selling No
  • Options No
  • Exchange NYSE Arca
  • Inception Date 12/18/2007
  • # of Holdings 68
    as of 12/13/2019
as of 12/13/2019

Quick Facts

  • Previous Close $27.33
  • Open $27.55
  • Today's High $27.77
  • Today's Low $27.47
  • Today's Volume 13,023
  • 12,918 30-Day Avg Trading
    Volume
  • 52 Week High $31.00
  • 52 Week Low $23.51
  • Shares Outstanding 1.96MM
  • Market Value $54.3MM