Invesco Preferred Shares UCITS ETF EUR Hdg Dist

Investment Risks

For complete information on risks, refer to the legal documents. The value of investments, and any income from them, will fluctuate. This may partly be the result of changes in exchange rates. Investors may not get back the full amount invested. The Fund may be exposed to the risk of the borrower defaulting on its obligation to return the securities at the end of the loan period and of being unable to sell the collateral provided to it if the borrower defaults. The Fund might be concentrated in a specific region or sector or be exposed to a limited number of positions, which might result in greater fluctuations in the value of the Fund than for a fund that is more diversified. The value of equities and equity-related securities can be affected by a number of factors including the activities and results of the issuer and general and regional economic and market conditions. This may result in fluctuations in the value of the Fund. Currency hedging between the base currency of the Fund and the currency of the share class may not completely eliminate the currency risk between those two currencies and may affect the performance of the share class.

Fund components

Sector exposure

as of 27 Mar 2024 (%)

Country exposure

as of 27 Mar 2024 (%)

Country exposure aggregates the primary country of risk for individual securities.

Sector exposure uses GICS (Global Industry Classification Standard) to classify securities.

Top 10 Exposures as of 27 Mar 2024 (%)

Name ISIN Weight
JPMORGAN CHASE & CO USD 25.0000 PFD US48128B6487 1.78%
WELLS FARGO & COMPANY USD 25.0000 PFD US94988U1512 1.66%
Cash and/or Derivatives N/A 1.65%
JPMORGAN CHASE & CO USD 25.0000 PFD US48128B6552 1.63%
JPMORGAN CHASE & CO USD 25.0000 PFD US48128B5497 1.54%
JPMORGAN CHASE & CO USD 25.0000 PFD US48128B5232 1.52%
AT&T INC USD 25.0000 PFD US00206R7061 1.36%
BANK OF AMERICA CORP USD 25.0000 PFD US0605052291 1.30%
BANK OF AMERICA CORP USD 25.0000 PFD US06053U6010 1.26%
JPMORGAN CHASE & CO USD 25.0000 PFD US48128B5802 1.23%

Securities lending

 

What is Securities Lending?

Securities Lending is a well-established and tightly regulated practice involving the short-term transfer (loan) of securities. The objective is to enhance the ETF’s overall performance.

When a security is loaned, the borrower (who has been approved by Invesco and the Lending Agent) provides collateral and pays an agreed fee for the duration of the loan. Collateral is an asset that a lender accepts as security for a loan. If the borrower defaults on the loan payments, the lender can seize the collateral and resell it to recoup its losses.

 

How much revenue goes to the ETF?

The ETF will receive 90% of the revenue arising from securities lending, with the remaining 10% deducted by the Lending Agent, Bank of New York Mellon (BNY Mellon), for its fees and to cover direct and indirect operational costs. Invesco will not receive any revenue from the programme.

Risks to consider
Securities lending involves certain risks that an investor should consider, including:

  • The risk of the borrower defaulting on its obligation to return the securities at the end of the loan period, and
  • The risk of the ETF being unable to sell the collateral provided to it if the borrower defaults.

To mitigate these risks, the ETF benefits from a “borrower default indemnity” provided by the Lending Agent, BNY Mellon. The indemnity allows for full replacement of the securities loaned if the collateral does not cover the value of the securities in the event of a borrower default.

To find out more view the Invesco ETFs Securities Lending document in our Documents section.

Securities lending information

Percentage revenue retained by the fund 90%
Maximum amount of fund assets that can be loaned 15%
Maximum amount of any single security that can be loaned 90%
Average amount on loan (29 Feb 2024) 0.12%
Securities lending return (29 Feb 2024) 0.0063%

Average amount on loan is the average percentage of the fund’s assets that were on loan over the previous 12 month period.

Securities lending return is the net securities lending revenue earned over the previous 12 month period, expressed as an annualised percentage return over the fund’s average AUM over the same period.

Assets on Loan

as of 29 Feb 2024 (%)

Collateral Held by Asset Type

as of 27 Mar 2024 (%)

Collateral Held by Country

as of 27 Mar 2024 (%)

Collateral Held by Currency

as of 27 Mar 2024 (%)

Value of Collateral Held

as of 27 Mar 2024 (%)

Top 10 Collateral Exposures as of 27 Mar 2024

Name Cusip ISIN Weight
AMAZON COM INC COM 023135106 US0231351067 9.45%
HESS CORP COM 42809H107 US42809H1077 9.45%
ALPHABET INC CAP STK CL C 02079K107 US02079K1079 7.10%
NISOURCE INC COM 65473P105 US65473P1057 7.06%
SALESFORCE INC COM 79466L302 US79466L3024 6.35%
PROSUS NV EUR 0.05 N/A NL0013654783 4.53%
CARNIVAL CORP PAIRED CTF 143658300 PA1436583006 4.30%
JOHNSON & JOHNSON COM 478160104 US4781601046 3.96%
AES CORP COM 00130H105 US00130H1059 2.97%
Other N/A N/A 44.83%

Key information

Bloomberg ticker PRFE IM
ISIN IE00BDT8V027
Benchmark BBG ticker PCDP
Management fee 0.55%
NAV (27 Mar 2024) €14.40
AUM €160,150,201
Base currency EUR
Replication method Physical
Securities lending Yes
Summary Risk Indicator (SRI) 4
Umbrella AUM (27 Mar 2024) €13,438,183,458

ESG Profile

(Fund 27 Mar 2024)

ESG Rating (AAA-CCC) BBB
Quality Score (0-10) 5.68
Carbon Intensity 205.06

Source: MSCI ESG Research. For more information on the ESG profile, see the ESG section on this product page. Carbon intensity is the weighted average carbon intensity (Tons CO2e/$million sales).

Costs may increase or decrease as result of currency and exchange rate fluctuations. Consult the legal documents for further information on costs.

The investment concerns the acquisition of units in a fund and not in a given underlying asset.

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The performance information on this web page refers to past performance. Past performance is not a reliable indicator of future returns.

The data shown on this page is not real-time, i.e. it may be delayed due to mandatory requirements of the data provider. As a consequence, the price of the product linked to a specific underlying you are quoted by your broker or intermediary may substantially differ from the price of the product that you would expect on the basis of the data displayed on this site. Invesco accepts no responsibility for loss, however caused, resulting from errors in this data.

ETF performance is in the fund’s base currency, includes dividends, reinvested. ETF performance is Net Asset Value after management fees and other ETF costs but does not consider any commissions or custody fees payable when buying, holding or selling the ETF. The ETF does not charge entry or exit fees. Data: Invesco.

 

The risk / reward profile classifies the fund by an indicator representing the levels from the lowest (1) to the highest (7). For more information see the KID/KIID.