Fund components

Sector exposure

as of 19 Oct 2021 (%)

Country exposure

as of 19 Oct 2021 (%)

Top 10 Exposures as of 19 Oct 2021 (%)

Name ISIN Weight
Cash and/or Derivatives N/A 1.55%
WELLS FARGO & COMPANY USD 25.0000 PFD US94988U1512 1.44%
JPMORGAN CHASE & CO USD 25.0000 PFD US48128B6487 1.43%
JPMORGAN CHASE & CO USD 25.0000 PFD US48128B5232 1.39%
JPMORGAN CHASE & CO USD 25.0000 PFD US48128B5497 1.36%
JPMORGAN CHASE & CO USD 25.0000 PFD US48128B6552 1.30%
WELLS FARGO & COMPANY 25 PFD US9497465560 1.29%
AT&T INC USD 25.0000 PFD US00206R7061 1.27%
CITIGROUP INC USD 25.0000 PFD US1729673418 1.17%

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 (30 Sep 2021) 0.52%
Securities lending return (30 Sep 2021) 0.02%

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 30 Sep 2021 (%)

Collateral Held by Asset Type

as of 19 Oct 2021 (%)

Collateral Held by Country

as of 19 Oct 2021 (%)

Collateral Held by Currency

as of 19 Oct 2021 (%)

Value of Collateral Held

as of 19 Oct 2021 (%)

Top 10 Collateral Exposures as of 19 Oct 2021

Name Cusip ISIN Weight
ACTIVISION BLIZZARD IN USD 0.000001 00507V109 US00507V1098 6.30%
RAYTHEON TECHNOLOGIES CORP USD 1.0 75513E101 US75513E1010 5.60%
PARKER-HANNIFIN CORP USD 0.5 701094104 US7010941042 5.30%
MARATHON PETE CORP USD 0.01 56585A102 US56585A1025 4.90%
PROCTER + GAMBLE CO NPV 742718109 US7427181091 4.90%
BROADCOM INC NPV 11135F101 US11135F1012 4.50%
STARBUCKS COM USD0.001 855244109 US8552441094 4.40%
NOVARTIS AG CHF 0.5 N/A CH0012005267 4.20%
TEXAS INSTRS INC USD 1.0 882508104 US8825081040 3.70%
Other N/A N/A 56.00%

Key information

Bloomberg ticker PRFD LN
Benchmark BBG ticker PCDP
Management fee 0.50%
NAV (19 Oct 2021) $20.09
AUM $266,270,723
Base currency USD
Securities lending Yes
Umbrella AUM (19 Oct 2021) $6,977,285,736

ESG Profile

(Fund 19 Oct 2021)

Quality Score (0-10) 7.23
Carbon Intensity 290.13

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 risks

Capital is not guaranteed: The value of investments, and income from them, can go down as well as up and you may not get back the full amount you invested.

Index tracking: The Fund will not replicate the performance of its Reference Index perfectly, this is because the Fund will incur drags on performance such as expenses and transactions costs, which the Reference Index is not subject to. If the Fund is unable to hold the securities in the exact proportion required this will affect its ability to track the Reference Index.

Liquidity on secondary market risk: Lower liquidity means there are insufficient buyers or sellers to allow the Fund to sell or buy investments readily. On-exchange liquidity may be limited due to Reference Index suspension, a decision by one of the relevant stock exchanges, a breach by the market maker or respective stock exchange requirements and guidelines.

Value of securities: The value of securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events.


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.