Invesco AT1 Capital Bond UCITS ETF 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 creditworthiness of the debt the Fund is exposed to may weaken and result in fluctuations in the value of the Fund. There is no guarantee the issuers of debt will repay the interest and capital on the redemption date. The risk is higher when the Fund is exposed to high yield debt securities. Changes in interest rates will result in fluctuations in the value of the fund. This fund invests in contingent convertible bonds, a type of corporate debt security that may be converted into equity or forced to suffer a write down of principal upon the occurrence of a pre-determined event. If this occurs, the Fund could suffer losses. Other notable risks of these bonds include liquidity and default risk. 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.

Product description

The Invesco AT1 Capital Bond UCITS ETF Acc aims to provide the total return performance of the iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) Index (the "Reference Index"), less the impact of fees.

The Reference Index is a customized version of the iBoxx USD Contingent Convertible Liquid Developed Market AT1 Index in which business involvement eligibility screening criteria is applied and the weight of an issuer is capped at 8%.  It measures the performance of financial institutions' AT1 contingent convertible debt, and aims to offer a broad coverage of the USD AT1 capital bond universe whilst upholding minimum standards of investability and liquidity.

The Reference Index is constructed by using the index provider's criteria to exclude securities that: 1) are involved (as defined by the Index Provider using data from Sustainalytics, an independent ESG and corporate governance research, ratings and analytics firm) in any of the following business activities: controversial weapons, small arms, military contracting, oil sands, thermal coal, tobacco, cannabis and predatory lending; and 2) are deemed not to comply with the principles of the United Nations Global Compact.

The fund aims to achieve its objective by buying and holding, as far as possible and practical, all the securities in the index in their respective weightings. The fund will aim to rebalance its holdings whenever the index is rebalanced. This method is referred to as full physical replication.

This ETF is passively managed.

Trading information

SIX Swiss Exchange
Trading currency USD
Settlement period T+2
Exchange ticker AT1D
Bloomberg ticker AT1D SW
Bloomberg iNAV AT1DIN
Reuters ticker AT1D.S
Reuters iNAV 19IAINAV.DE
WKN A2N38K
Valor 43227399

Data source: London Stock Exchange Group

Euronext Milan
Trading currency EUR
Settlement period T+2
Exchange ticker AT1D
Bloomberg ticker AT1D IM
Bloomberg iNAV AT1DEIN
Reuters ticker AT1D.MI
Reuters iNAV 18F9INAV.DE
WKN A2N38K
Valor 43227399

Data source: London Stock Exchange Group

London Stock Exchange
Trading currency GBX
Settlement period T+2
Exchange ticker AT1D
Bloomberg ticker AT1D LN
Bloomberg iNAV AT1DPIN
Reuters ticker AT1D.L
Reuters iNAV 19IBINAV.DE
WKN A2N38K
Valor 43227399
Sedol BFC3RZ5

Data source: London Stock Exchange Group

Portfolio information (26 Mar 2024)
Effective maturity 56.07
Effective duration 2.54
Average quality BB
Yield information (26 Mar 2024)
Estimated YTM 8.53%
Distribution yield 6.01%
Estimated YTC 7.79%

Key information

Bloomberg ticker AT1D SW
ISIN IE00BG0TQB18
Benchmark BBG ticker IBXXC1D3
Management fee 0.39%
NAV (27 Mar 2024) $18.11
AUM $1,128,530,615
Base currency USD
Replication method Physical
Securities lending Yes
Summary Risk Indicator (SRI) 3
Umbrella AUM (27 Mar 2024) $14,540,786,410
SFDR Classification Article 8

ESG Profile

(Fund 27 Mar 2024)

ESG Rating (AAA-CCC) AA
Quality Score (0-10) 7.75
Carbon Intensity 3.01

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. Returns may increase or decrease as a result of currency fluctuations. 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 iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) referenced herein is the property of Markit Indices Limited and is used under license. The funds or securities referred to herein are not sponsored, endorsed, or promoted by Markit Indices Limited.

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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