Invesco AT1 Capital Bond UCITS ETF EUR Hdg Dist

Fund components

Asset type

as of 21 Apr 2021 (%)

Country exposure

as of 21 Apr 2021 (%)

Currency

as of 21 Apr 2021 (%)

Credit rating

as of 21 Apr 2021 (%)

Top 10 Exposures as of 21 Apr 2021 (%)

Name ISIN Cusip Weight
Lloyds Banking Group PLC VAR 27/06/69 US539439AG42 539439AG4 2.60%
Nordea Bank Abp VAR 26/09/69 US65559D2A65 65559D2A6 2.46%
UniCredit SpA VAR 03/06/69 XS1046224884 T9T20LTJ7 2.45%
Lloyds Banking Group PLC VAR 27/12/69 US539439AU36 539439AU3 2.36%
Natwest Group PLC VAR 30/09/69 US780097BB64 780097BB6 2.34%
Banco Santander SA VAR 08/05/69 XS1951093894 E2R99CQ59 2.28%
Westpac Banking Corp/New Zealand VAR 21/03/70 US96122UAA25 96122UAA2 2.27%
Australia & New Zealand Banking Gr VAR 15/12/69 USQ08328AA64 Q08328AA6 2.05%
Deutsche Bank AG VAR 30/04/69 US251525AN16 251525AN1 2.01%
Credit Agricole SA VAR 23/03/70 USF22797RT78 F22797RT7 1.99%

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

Revenue retained by the fund 90%
Maximum amount of fund assets that can be loaned 30%
Maximum amount of any single security that can be loaned 90%
Revenue earned YTD (28 Jan 2021) $1987.94

Collateral Held by Asset Type

as of 21 Apr 2021 (%)

Collateral Held by Country

as of 19 Apr 2021 (%)

Collateral Held by Currency

as of 21 Apr 2021 (%)

Value of Collateral Held

as of 21 Apr 2021 (%)

Top 10 Collateral Exposures as of 21 Apr 2021

Name Cusip ISIN Weight
REPUBLIK OSTERREICH JK1275771 AT0000A1K9C8 5.70%
REPUBLIK OSTERREICH EI9664448 AT0000A0U3T4 5.20%
FRENCH REPUBLIC JK2706329 FR0013131877 5.00%
BUNDESREPUBLIK DEUT EC2153012 DE0001135143 4.90%
FRANCE, GG7384272 FR0000571218 4.80%
FRENCH REPUBLIC,OAT EJ9139449 FR0011619436 4.80%
EUROPEAN INVESTMENT EI2326276 XS0505157965 3.70%
STATE OF THE FRENCH VAR 01/03/25 EK7554323 FR0012558310 3.00%
BUNDESREPUBLIK DEUT VAR 15/04/23 EJ0993182 DE0001030542 2.90%
Other N/A N/A 60.00%

Key information

Bloomberg ticker XAT1 GY
ISIN IE00BFZPF439
Benchmark BBG ticker IBXXC1D3
Management fee 0.39%
NAV (21 Apr 2021) €20.91
AUM €1,161,179,947
Base currency EUR
Securities lending Yes
Umbrella AUM (21 Apr 2021) €5,353,568,132

ESG Profile

(Fund 21 Apr 2021)

ESG Rating (AAA-CCC) AAA
Quality Score (0-10) 10.00
Carbon Intensity 4.00

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.

High yield securities: 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 or which may impact he liquidity of the Fund under certain circumstances.

Contingent convertible bonds: The Fund invests in contingent convertible bonds, a type of corporate debt security that may be converted into equity or could be 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 include liquidity and default risk.

 

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.