Invesco US High Yield Fallen Angels UCITS ETF GBP Hdg Acc
Product description
The Invesco US High Yield Fallen Angels UCITS ETF GBP Hdg Acc aims to provide the total return performance of the FTSE Time-Weighted US Fallen Angel Bond Select Index (the "Reference Index"), less the impact of fees.
To minimise exposure to fluctuations in the exchange rate between USD and GBP, the GBP Hedged share class enters into foreign exchange transactions.
The Reference Index measures the performance of “fallen angels” – bonds which were previously rated investment-grade, but were subsequently downgraded to high-yield. To be included, the securities must be USD-denominated bonds issued by corporations domiciled in the US or Canada. Any such bonds with a rating changed from investment-grade to high-yield in the previous month are eligible for inclusion and will be held for a period of 60 months, provided they continue to meet the inclusion criteria. If a bond exits and then re-enters the Index, the inclusion period is reset. Unlike indices where constituent weights are based on market value, the Index’s weights are determined based on the time from inclusion, with higher weights assigned to bonds that have more recently become “fallen angels” (aiming to capture the potential price rebound effect that fallen angels may experience soon after their initial downgrade to high-yield). No single issuer can make up more than 5% of the index. For liquidity, constituents’ time-based weights are capped at 3 times their respective market value-based weights. The Reference Index is rebalanced monthly.
The portfolio managers aim to achieve the fund’s objective by using portfolio modelling tools and techniques to buy and hold a proportion of the index securities that represents the characteristics of the entire index. The objective of this sampling method is to replicate the index performance as closely as possible while reducing the costs that would normally be incurred with full replication.
This ETF is passively managed.
Trading information
| London Stock Exchange | |
|---|---|
| Trading currency | GBX |
| Settlement period | T+2 |
| Exchange ticker | FAGB |
| Bloomberg ticker | FAGB LN |
| Bloomberg iNAV | FAGBGBIV |
| Reuters ticker | FAGB.L |
| Reuters iNAV | FAGBGBiv.P |
| WKN | A2H5ZV |
| Valor | 37407907 |
| Sedol | BDFCGN6 |
Data source: London Stock Exchange Group
| SIX Swiss Exchange | |
|---|---|
| Trading currency | GBP |
| Settlement period | T+2 |
| Exchange ticker | FAGB |
| Bloomberg ticker | FAGB SW |
| Bloomberg iNAV | FAGBGBIV |
| Reuters ticker | FAGB.S |
| Reuters iNAV | FAGBGBiv.P |
| WKN | A2H5ZV |
| Valor | 37407907 |
Data source: London Stock Exchange Group
| Portfolio information (17 Apr 2024) | |
|---|---|
| Effective maturity | 8.90 |
| Effective duration | 4.29 |
| Average quality | BB |
| Yield information (17 Apr 2024) | |
|---|---|
| Estimated YTM | 8.13% |
Key information
| Bloomberg ticker | FAGB LN |
| ISIN | IE00BYVTN047 |
| Benchmark BBG ticker | CFIIHYFA |
| Management fee | 0.50% |
| NAV (19 Apr 2024) | £26.28 |
| AUM | £187,718,539 |
| Base currency | GBP |
| Replication method | Physical |
| Securities lending | Yes |
| Summary Risk Indicator (SRI) | 3 |
| Umbrella AUM (19 Apr 2024) | £8,386,403,939 |
ESG Profile
(Fund 18 Apr 2024)
| ESG Rating (AAA-CCC) | BBB |
| Quality Score (0-10) | 5.70 |
| Carbon Intensity | 304.06 |
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).
Key documents
Costs may increase or decrease as result of currency and exchange rate fluctuations. Consult the legal documents for further information on costs. Returns may increase or decrease as a result of currency fluctuations.
The investment concerns the acquisition of units in a fund and not in a given underlying asset.
The Invesco US High Yield Fallen Angels UCITS ETF (the “Fund”) has been developed solely by Invesco. The “Fund” is not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). FTSE Russell is a trading name of certain of the LSE Group companies.
All rights in the FTSE Time-Weighted US Fallen Angel Bond Select Index (the “Index”) vest in the relevant LSE Group company which owns the Index. “FTSE®” is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license. “TMX®” is a trade mark of TSX, Inc. and used by the LSE Group under license. The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Fund. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Fund or the suitability of the Index for the purpose to which it is being put by Invesco.
The performance information on this web page refers to past performance. Past performance does not predict 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.
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