Product description

The investment objective of the Invesco Preferred Shares UCITS ETF is to deliver the performance of the BofA Merrill Lynch Diversified Core Plus Fixed Rate Preferred Securities Net Total Return Index, minus expenses, in US dollar terms. The portfolio is rebalanced monthly, in-line with the index.

The BofA Merrill Lynch Diversified Core Plus Fixed Rate Preferred Securities Net Total Return index  tracks the performance of fixed rate US dollar denominated preferred securities issued in the US domestic market.  Index constituents are capitalisation-weighted subject to a 10% issuer cap. Additionally, no more than 40% of the index can be comprised of issuers that individually account for more than 5% of the index. Securities must be rated at least B3 based on an average of three leading ratings agencies (Moody’s, S&P, and Fitch), and must have an investment-grade country risk profile.  The Fund and the Index are rebalanced and reconstituted on a monthly basis.

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Security Information

General information
Base currency USD
Dividend treatment Continuously reinvested
Minimum investment 1 share
Launch date 7 Dec 2018
Shares outstanding 599,912
Exchanges London Stock Exchange
SIX Swiss Exchange
Further information
ISA Eligible
SIPP Eligible
UCITS Compliant
UK reporting status Yes
Passported to Austria, Denmark, Finland, France, Germany, Ireland, Italy (Institutional), Luxembourg, Netherlands, Norway, Portugal (Institutional), Spain, Sweden, Switzerland (Institutional), United Kingdom
Legal form UCITS
Open ended fund
Replication method Physical
Domicile Ireland
Financial year end 31 December
Tax information for German investors
Equity ratio 27.7325
Key service providers
Issuer Invesco Markets II plc
Manager Invesco Investment Management Limited
Investment manager Invesco Capital Management LLC
Fund administrator BNY Mellon Fund Services (Ireland) DAC
Depositary The Bank of New York Mellon SA/NV
Auditor PricewaterhouseCoopers
Promoter Invesco Investment Management Limited
Recent distributions
Announcement date
Ex-date N/A
Record date N/A
Payment date N/A
Distribution per shares N/A
Download all distributions

Key information

Bloomberg ticker PRAC LN
ISIN IE00BG482169
Benchmark BBG ticker PCDP
Management fee 0.50%
NAV (28 Sep 2020) $47.52
AUM $154,238,983
Base currency USD
Umbrella AUM (28 Sep 2020) $4,037,350,595

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 Index perfectly, this is because the Fund will incur drags on performance such as expenses and transactions costs, which the 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 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 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.