Invesco S&P 500 High Dividend Low Volatility 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 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. The value of equities and equity-related securities can be affected by a number of factors including the activities and results of the issuer and general and regional economic and market conditions. This may result in fluctuations in the value of the Fund. Currency hedging between the base currency of the Fund and the currency of the share class may not completely eliminate the currency risk between those two currencies and may affect the performance of the share class.

Fund components

Sector exposure

as of 30 Nov 2023 (%)

Country exposure

as of 30 Nov 2023 (%)

Country exposure aggregates the primary country of risk for individual securities.

Sector exposure uses GICS (Global Industry Classification Standard) to classify securities.

Top 10 Exposures as of 30 Nov 2023 (%)

Name ISIN Weight
AT&T INC USD1 US00206R1023 3.41%
ALTRIA GROUP INC USD0.333 US02209S1033 2.95%
KINDER MORGAN INC USD0.01 US49456B1017 2.78%
ONEOK INC USD0.01 US6826801036 2.77%
SIMON PROPERTY GROUP INC USD0.0001 US8288061091 2.77%
WILLIAMS COS INC USD1 US9694571004 2.56%
3M CO USD0.01 US88579Y1010 2.53%
CROWN CASTLE INC USD 0.01 US22822V1017 2.52%

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 12%
Maximum amount of any single security that can be loaned 90%
Average amount on loan (31 Oct 2023) 0.93%
Securities lending return (31 Oct 2023) 0.0015%

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 31 Oct 2023 (%)

Collateral Held by Asset Type

as of 30 Nov 2023 (%)

Collateral Held by Country

as of 30 Nov 2023 (%)

Collateral Held by Currency

as of 30 Nov 2023 (%)

Value of Collateral Held

as of 30 Nov 2023 (%)

Top 10 Collateral Exposures as of 30 Nov 2023

Name Cusip ISIN Weight
0 7/8 TRIB 47 912810RW0 US912810RW09 16.46%
FRENCH REPUBLIC G 0.75 25MAY53 144A BQ3977775 FR0014004J31 8.60%
1 1/2 TRIB 53 912810TP3 US912810TP30 8.35%
FRENCH REPUBLIC GO 1.5 25MAY50 144A AX2841838 FR0013404969 8.16%
3 5/8 BOND 43 912810RC4 US912810RC45 6.48%
FRENCH REPUBLIC GOVERN 0.75 25MAY28 AP3656380 FR0013286192 6.09%
BUNDESREPUBLIK DEUTSCHL 1.8 15AUG53 BY8990867 DE0001102614 5.50%
FRENCH REPUBLIC GOVERNM 3.5 25APR26 EI3077506 FR0010916924 4.68%
KINGDOM OF BELGIU 2.75 22APR39 144A BZ0281957 BE0000356650 4.30%
Other N/A N/A 31.39%

Key information

Bloomberg ticker HDLV LN
Benchmark BBG ticker SP5LVHDN
Management fee 0.30%
NAV (1 Dec 2023) $31.32
AUM $217,524,787
Base currency USD
Replication method Physical
Securities lending Yes
Summary Risk Indicator (SRI) 5
Umbrella AUM (1 Dec 2023) $9,194,605,900

ESG Profile

(Fund 30 Nov 2023)

ESG Rating (AAA-CCC) A
Quality Score (0-10) 7.07
Carbon Intensity 617.87

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.

The investment concerns the acquisition of units in a fund and not in a given underlying asset.

The "S&P 500 Low Volatility High Dividend Index" is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Invesco. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Invesco. The Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Low Volatility High Dividend Index.

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.


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.