Invesco US High Yield Fallen Angels UCITS ETF Dist

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 5 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.

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
Today (19 Oct 2021)
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Borsa Italiana
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
Today (19 Oct 2021)
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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
Today (19 Oct 2021)
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Euronext Paris
Trading currency EUR
Settlement period T+2
Exchange ticker HYFA
Bloomberg ticker HYFA FP
Bloomberg iNAV HYFAEUIV
Reuters ticker HYFA.PA
Reuters iNAV HYFAEUiv.P
WKN A2AN8T
Valor 33418873
Today (19 Oct 2021)
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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
Today (19 Oct 2021)
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iNAV Loading...
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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
Today (19 Oct 2021)
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Portfolio information (4 Oct 2021)
Effective maturity 8.08
Effective duration 5.58
Average quality BB
Yield information (4 Oct 2021)
Estimated YTM 3.47%
Distribution yield 5.20%

Key information

Bloomberg ticker HYFA LN
ISIN IE00BD0Q9673
Benchmark BBG ticker CFIIHYFA
Management fee 0.45%
NAV (18 Oct 2021) $25.93
AUM $255,320,118
Base currency USD
Securities lending Yes
Umbrella AUM (18 Oct 2021) $7,427,571,004

ESG Profile

(Fund 18 Oct 2021)

ESG Rating (AAA-CCC) BB
Quality Score (0-10) 3.69
Carbon Intensity 577.89

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

Although the Investment Manager will continually monitor the return of the Fund in comparison to the performance of the relevant Index, there can be no guarantee that the Fund will match the performance of the Index.

The Fund’s use of a sampling approach may result in it holding a smaller number of securities than are in the Index. This may affect its ability to track the Index and may result in larger fluctuations in its value than if it held all of the securities in the Index.

In tracking the Index, the Fund will be concentrated in a single country or a small number of countries. Investors should be prepared to accept a higher degree of risk than for a fund that is geographically diversified.

Changes in interest rates will result in fluctuations in the value of the Fund.

Debt securities are exposed to credit risk which is the ability of the borrower to repay the interest and capital on the redemption date.

The Fund will hold a large amount of debt securities which are of lower credit quality and may result in large fluctuations in the value of the Fund.

The Fund will hold a large amount of lower quality debt securities which may impact the liquidity of the Fund under certain circumstances.

As the shares of the Fund are listed on one or more stock exchange(s) there may be insufficient demand to buy or sell the shares which may cause the price to be different than the actual value of the net asset value of the Fund.

Return on your investment may be adversely affected by variations in exchange rates.

 

The performance information on this web page refers to past performance and simulated performance. Performance of the Index prior to 18 July 2016 has been simulated by its index provider. Simulated performance is calculated using the index rules. Past performance (actual or simulated) is not a reliable indicator of future performance. 
 
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.