Invesco US High Yield Fallen Angels 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 may hold a significant amount of debt instruments which are of lower credit quality. This may result in large fluctuations of the value of the ETF as well as impacting its liquidity under certain circumstances. 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 US High Yield Fallen Angels UCITS ETF Dist 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. The fund distributes income on a quarterly basis.

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 Reference 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 Reference 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 USD
Settlement period T+2
Exchange ticker HYFA
Bloomberg ticker HYFA LN
Bloomberg iNAV HYFAUSIV
Reuters ticker HYFA.L
Reuters iNAV HYFAUSiv.P
WKN A2AN8T
Valor 33418873
Sedol BDBCMG5

Data source: London Stock Exchange Group

Euronext Milan
Trading currency EUR
Settlement period T+2
Exchange ticker HYFA
Bloomberg ticker HYFA IM
Bloomberg iNAV HYFAEUIV
Reuters ticker HYFA.MI
Reuters iNAV HYFAEUiv.P
WKN A2AN8T
Valor 33418873

Data source: London Stock Exchange Group

London Stock Exchange
Trading currency GBX
Settlement period T+2
Exchange ticker HYFA
Bloomberg ticker FAHY LN
Bloomberg iNAV HYFAGBIV
Reuters ticker FAHY.L
Reuters iNAV HYFAGBiv.P
WKN A2AN8T
Valor 33418873
Sedol BDBCMH6

Data source: London Stock Exchange Group

Euronext Paris
Trading currency EUR
Settlement period T+2
Exchange ticker HYFA
Bloomberg ticker HYFA FP
Bloomberg iNAV HYFAEUIV
Reuters ticker FAHY.PA
Reuters iNAV HYFAEUiv.P
WKN A2AN8T
Valor 33418873

Data source: London Stock Exchange Group

SIX Swiss Exchange
Trading currency USD
Settlement period T+2
Exchange ticker HYFA
Bloomberg ticker HYFA SW
Bloomberg iNAV HYFAUSIV
Reuters ticker HYFA.S
Reuters iNAV HYFAUSiv.P
WKN A2AN8T
Valor 33418873

Data source: London Stock Exchange Group

Deutsche Börse (Xetra)
Trading currency EUR
Settlement period T+2
Exchange ticker HYFA
Bloomberg ticker FAHY GY
Bloomberg iNAV HYFAEUIV
Reuters ticker FAHYG.DE
Reuters iNAV HYFAEUiv.P
WKN A2AN8T
Valor 33418873

Data source: London Stock Exchange Group

Portfolio information (26 Mar 2024)
Effective maturity 9.12
Effective duration 4.44
Average quality BB
Yield information (26 Mar 2024)
Estimated YTM 7.78%
Distribution yield 7.00%

Key information

Bloomberg ticker HYFA LN
ISIN IE00BD0Q9673
Benchmark BBG ticker CFIIHYFA
Management fee 0.45%
NAV (27 Mar 2024) $21.52
AUM $241,203,167
Base currency USD
Replication method Physical
Securities lending Yes
Summary Risk Indicator (SRI) 3
Umbrella AUM (27 Mar 2024) $11,259,164,610

ESG Profile

(Fund 27 Mar 2024)

ESG Rating (AAA-CCC) A
Quality Score (0-10) 5.76
Carbon Intensity 220.48

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.

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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