Invesco Announces Changes to its ETF Line-up
Upgrades to existing ETFs reflect Invesco's consistent improvements to the investor experience
ATLANTA, June 23, 2023 /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ), a leading global asset management firm, has announced that it will change the underlying index of eight of its existing exchange traded funds (ETFs), as well as reducing the fee on five of those ETFs, to provide a better investor experience for its clients.
After markets close on August 25, 2023, Invesco will make modifications to the investment strategies of eight ETFs in its US listed line-up, updating the names, tickers, underlying indexes, index providers and in a few cases fees, to reflect the new strategies. These enhancements are being implemented by Invesco in pursuit of its continuing commitment to clients, making it easier for investors to identify and access these Invesco ETFs.
Invesco continually aims to have the most robust line-up of ETFs available for investors. To maintain this standard of excellence, Invesco continues to optimize, grow, and refine its ETF line-up to enhance the investor experience.
The changes are set forth below and are anticipated to go into effect after markets close on August 25, 2023 (except as noted).
Fee reductions and fund name, ticker and index changes | |||||||||
Current fund | Current | Current index | Current index | New fund name | New ticker | New index | New index | Current | New |
Invesco S&P | EWMC | S&P MidCap | S&P Dow Jones | Invesco S&P MidCap 400 | GRPM | S&P MidCap 400 GARP | Unchanged | 40 | 35 |
Invesco | DEF | Invesco Defensive | Invesco | Invesco Bloomberg | POWA | Bloomberg Pricing | Bloomberg | 50 | 40 |
Invesco | PWC | Dynamic Market | ICE Data | Invesco Bloomberg | BMVP | Bloomberg MVP Index | Bloomberg | 50 | 29 |
Invesco Networking | PXQ | Dynamic | ICE Data | Invesco Next Gen | KNCT | STOXX World AC | STOXX Ltd. | 50 | 40 |
Invesco | PSJ | Dynamic Software | ICE Data | Invesco AI and Next | IGPT | STOXX World AC | STOXX Ltd. | 50 | N/A |
Invesco | PBS | Dynamic Media | ICE Data | Invesco Next Gen | GGME | STOXX World AC | STOXX Ltd. | 50 | N/A |
Invesco 1-30 | PLW | Ryan/NASDAQ | NASDAQ OMX | Invesco Equal Weight | GOVI | ICE 1-30 Year Laddered | ICE Data | 25 | 15* |
Invesco Global | PGHY | DB Global Short | Deutsche Bank | Invesco Global ex-US | Unchanged | ICE USD Global High | ICE Data | 35 | N/A |
* PLW's new management fee will take effect on June 26, 2023.
"Bps" refers to the unit of measurement known as "basis points," used to describe a percentage value or rate. One basis point is equivalent to 0.01% (1/100th of a percent) or 0.0001 in decimal form.
An investment cannot be made directly into an index.
About Invesco Ltd.
Invesco Ltd. is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive, and alternative investment capabilities. With offices in more than 20 countries, Invesco managed $1.5 trillion in assets on behalf of clients worldwide as of March 31, 2023. For more information, visit www.invesco.com.
Important Information
Not a Deposit | Not FDIC Insured | Not Guaranteed by the Bank | May Lose Value | Not Insured by any Federal Government Agency
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 or sector are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
Shares are not individually redeemable and owners of the Shares may acquire those Shares from the Fund and tender those Shares for redemption to the Fund in Creation Unit aggregations only, typically consisting of 10,000, 20,000, 25,000, 50,000, 80,000, 100,000 or 150,000 Shares.
The S&P MidCap 400® Equal Weight Index equally weights mid-cap securities in the S&P MidCap 400® Index. The S&P MidCap 400® GARP Index seeks to track companies with consistent fundamental growth, reasonable valuation, solid financial strength and strong earning power. The Invesco Defensive Equity Index is designed to provide exposure to securities of large-cap US issuers. The Index uses a rules-based approach to select companies that potentially have superior risk-return profiles during periods of stock market weakness while still offering the potential for gains during periods of market strength. The Index is computed using the gross total return, which reflects dividends paid. The Bloomberg Pricing Power Index is comprised of U.S. large- and mid-cap companies that are well-positioned to maintain stable profit margins in all market conditions and that have the smallest deviations among their annual gross profit margins over the last five years. The Dynamic Market Intellidex℠ Index selection methodology seeks to identify and select US companies. Stocks are selected from the top of each sector and size category in a manner designed to produce an index with sector and size dispersion similar to the overall broad market. The Bloomberg MVP Index is an equally weighted index that seeks to include the 50 securities from the Bloomberg US 500 Index with the strongest momentum (M), most muted volatility (V), most inexpensive valuations, and highest profitability (P) based on an aggregated sector-neutral "MVP" score. The Dynamic Networking Intellidex℠ Index thoroughly evaluates companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Index is comprised of common stocks of 30 US networking companies. These are companies that are principally engaged in the development, manufacture, sale or distribution of products, services or technologies that support the flow of electronic information, including voice, data, images and commercial transactions. The STOXX World AC NexGen Connectivity Index is comprised of companies with significant exposure to technologies or products that contribute to future connectivity through direct revenue. These companies, or components of their business lines, are expected to benefit from long-term structural trends driven by technological and societal change, which, in the future, may have a substantial impact on their performance. Revere (RBICS) Revenue datasets allow detailed breakdown of the revenue sources of the eligible companies, helping this index to select companies with substantial exposure to theme. The Dynamic Software Intellidex℠ Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Index is comprised of common stocks of 30 US software companies. These are companies that are principally engaged in the research, design, production or distribution of products or processes that relate to software applications and systems and information-based services. The STOXX World AC NexGen Software Development Index is comprised of companies with significant exposure to technologies or products that contribute to advancements in software development through direct revenue. These companies, or components of their business lines, are expected to benefit from long-term structural trends driven by technological and societal change, which, in the future, may have a substantial impact on their performance. Revere (RBICS) Revenue datasets allow detailed breakdown of the revenue sources of the eligible companies, helping this index to select companies with substantial exposure to the theme. The Dynamic Media Intellidex℠ Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including: price momentum, earnings momentum, quality, management action, and value. The Index is comprised of common stocks of 30 US media companies. These are companies that are principally engaged in the development, production, sale and distribution of goods or services used in the media industry. The STOXX World AC NexGen Media Index is comprised of companies with significant exposure to technologies or products that contribute to advancements in digital media through direct revenue. These companies, or components of their business lines, are expected to benefit from long-term structural trends driven by technological and societal change, which, in the future, may have a substantial impact on their performance. Revere (RBICS) Revenue datasets allow detailed breakdown of the revenue sources of the eligible companies, helping this index to select companies with substantial exposure to dynamic media theme. The Ryan/NASDAQ U.S. 1-30 Year Treasury Laddered Index is comprised of US Treasury securities and measures the potential returns of the U.S. Treasury yield curve based on approximately 30 equally weighted U.S. Treasury issues with fixed coupons, scheduled to mature in a proportional, annual sequential ("laddered") structure. The ICE 1-30 Year Laddered Maturity US Treasury Index is designed to track the performance of up to 30 U.S. Treasury Notes or Bonds representing the annual February maturity ladder across the yield curve. The DB Global Short Maturity High Yield Bond Index is comprised of US and foreign short-term, non-investment grade bonds, all of which are denominated in US dollars. The Fund does not purchase all of the securities in the Index; instead, the Fund utilizes a "sampling" methodology to seek to achieve its investment objective. The ICE USD Global High Yield Excluding US Issuers Constrained Index is composed of U.S. dollar denominated, below investment grade corporate debt that is publicly issued in the U.S. domestic and eurobond markets by non-U.S. issuer.
This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making any investment decisions.
Before investing, investors should carefully read the prospectus/summary prospectus and carefully consider the investment objectives, risks, charges and expenses. For this and more complete information about the Fund call 800 983 0903 or visit invesco.com for the prospectus/summary prospectus.
Invesco Distributors, Inc. is the US distributor for Invesco's retail products and private placements, and is an indirect, wholly owned subsidiary of Invesco Ltd.
06/23 NA2963412
Contact: Rachael Peng, +1 713.214.4193, Rachael.Peng@invesco.com
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