BSBE — Invesco BulletShares 2022 USD Emerging Markets Debt ETF

Data updated: 2023-01-30

BSBE — Invesco BulletShares 2022 USD Emerging Markets Debt ETF. Bond · $16.80M AUM · 0.29% expense ratio. Holdings, fees, performance and SEC filings.

BSBE Fund Overview

BSBE — Invesco BulletShares 2022 USD Emerging Markets Debt ETF is a US ETF managed by Invesco Exchange-Traded Self-Indexed Fund Trust, categorised as Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

BSBE Investment Objective and Strategy

Invesco BulletShares 2022 USD Emerging Markets Debt ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Invesco Exchange-Traded Self-Indexed Fund Trust.

Investment objective

The Invesco BulletShares 2022 USD Emerging Markets Debt ETF (the “Fund”) seeks to track the investment results (before fees and expenses) of the Nasdaq BulletShares ® USD Emerging Markets Debt 2022 Index (the “Underlying Index”).

Principal investment strategy

The Fund generally will invest at least 80% of its total assets in securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, Invesco Indexing LLC (the Index Provider) compiles and maintains the Underlying Index. The Index Provider is affiliated with Invesco Capital Management LLC, the Funds investment adviser (the Adviser), and Invesco Distributors, Inc., the Funds distributor (the Distributor). The Underlying Index will typically include between 20-400 securities and is designed to represent the performance of a held-to-maturity portfolio of U.S. dollar-denominated emerging markets bonds with maturities or, in some cases, effective maturities in the year 2022 (collectively, 2022 Bonds). Effective maturity is an assessment of a bonds likely call date or maturity (if not called by the issuer).

With respect to establishing the effective maturity of a bond, if no embedded issuer call option exists for a bond, then the Index Provider deems effective maturity to be the actual year of maturity. If a bond contains an embedded issuer call option, with the first call date within 13 months of maturity and a par call price, then the Index Provider also deems effective maturity to be the actual year of maturity. In other cases, the Index Provider deems effective maturity to be the actual year of maturity, unless the yield to next call date is less than the yield to maturity, in which case the bonds effective maturity is deemed to be the year of the next call date. In selecting components for inclusion in the Underlying Index, the Index Provider begins with an investment universe of investment grade and below investment grade U.S.

dollar-denominated bonds issued by governments of countries that the Index Provider considers to be emerging markets countries, or by companies, sovereign entities or government-related agencies domiciled in such countries (as of August 31, 2018, the following countries were classified as emerging markets by the Index Provider: Brazil, Chile, China, Colombia, Czech Republic, Greece, Hungary, India, Indonesia, Malaysia, Mexico, Morocco, Peru, the Philippines, Poland, Russia, South Africa, Taiwan, Thailand, Turkey, the United Arab Emirates and Vietnam). To be eligible for inclusion in the Underlying Index, bonds must (i) have a credit rating of at least C by S&P Global Ratings, a division of S&P Global Inc. (S&P) or Fitch Ratings Inc. (Fitch), or at least a credit rating of Ca by Moodys Investors Service, Inc.

(Moodys); and (ii) have an outstanding face value of at least $300 million for corporate bonds and $500 million for other bonds (existing bonds in the eligible universe require 80% of the initial minimum face value outstanding qualification, depending on type of bond, to remain eligible). Bonds rated below BBB- by S&P or Fitch, or below Baa3 by Moodys are considered below investment grade (commonly known as junk bonds) and are considered speculative. The eligible universe may include: fixed- and step up-coupon bonds; puttable and callable bonds; event-driven, rating-driven, and registration-driven bonds; amortizing bonds; sinking funds with fixed sinking schedules; and securities issued in accordance with Regulation S or Rule 144A under the Securities Act of 1933 (Securities Act) that are exempt from registration with the Securities and Exchange Commission (SEC).

Additionally, bond types specifically excluded from the eligible universe include: private placements, except for Regulation S and Rule 144A bonds; pay-in-kind bonds; floating rate notes; zero coupon bonds, including zero coupon step-ups; convertible bonds; bonds cum or ex-warrant; bonds with one cash flow only; new bonds that have already been called; inflation or other index-linked bonds; bonds whose price, including interest that has accrued since the issue of the most recent coupon payment, is below $80; perpetual securities (including trust preferred); preferred shares. 2022 Bonds (as established semi-annually, as further described below) in the eligible universe are selected for inclusion in the Underlying Index and market value weighted, with a 5% limit on individual issuers and a 10% limit on countries applied at each monthly rebalance.

Prior to the final year of maturity (i.e., 2022), the Underlying Index is rebalanced monthly, at which time: (i) new bonds that meet the eligibility and maturity (or effective maturity) criteria above are added to the Underlying Index; (ii) existing 2022 Bonds that no longer meet the eligibility requirements are removed; and (iii) weights of Underlying Index components are reset to reflect current market value. The Index Provider only reevaluates the effective maturity date of bonds in the investment universe semi-annually, as part of the June and December rebalances, at which time in addition to bonds being added or removed from the Underlying Index pursuant to the eligibility screening described in the previous sentence, bonds also may be added or removed from the Underlying Index due to any changes in actual or effective maturity (i.e., they no longer meet the definition of 2022 Bond).

If a bond is removed from the Underlying Index during any rebalance due to changes in face value or credit rating, such bond will be excluded for the next three monthly rebalances (including the current rebalance) regardless of any further changes in face value or credit rating. During the final year of maturity (i.e., 2022), the Underlying Index does not rebalance. The Fund primarily invests in 2022 Bonds and the Fund will terminate on or about December 31, 2022. In connection with the termination of the Fund, the Fund will make a cash distribution of its net assets to then-current shareholders after making appropriate provisions for any liabilities of the Fund. The Fund does not seek to distribute any predetermined amount of cash at maturity. Bonds held by the Fund will be held until they mature, are called, or are removed from the Underlying Index due to no longer meeting the eligibility requirements.

Ineligible bonds are not removed from an Underlying Index until its next rebalance. Therefore, to the extent a bond held by the Fund is no longer eligible for inclusion in an Underlying Index, the Fund will continue to hold such bond until it is removed from the respective Underlying Index at its next rebalance. In the last year of operation, when the 2022 Bonds held by the Fund mature, the Funds portfolio will transition to cash and cash equivalents, including without limitation U.S. Treasury Bills and investment grade commercial paper. The Fund will terminate on or about December 31, 2022 without requiring additional approval by the Board of Trustees (the Board) of Invesco Exchange-Traded Self-Indexed Fund Trust (the Trust) or Fund shareholders. The Board may change the termination date to an earlier or later date without shareholder approval.

The Fund should not be confused with a target date fund, which has assets that are managed according to a particular glidepath that illustrates how its investment strategy becomes increasingly conservative over time. The Fund does not purchase all of the securities in the Underlying Index; instead, the Fund utilizes a sampling methodology to seek to achieve its investment objective. The Fund is non-diversified and therefore is not required to meet certain diversification requirements under the Investment Company Act of 1940, as amended (the 1940 Act). Concentration Policy. The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries.

The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries. As of the date of this prospectus, a significant portion of the Underlying Index is represented by the financial sector and, accordingly, the Adviser anticipates that the Fund may concentrate its investments in that sector. The Funds portfolio holdings, and the extent to which it concentrates in any industry or group of industries, are likely to change over time.

BSBE Performance

Total returns for BSBE (as of 2026-10-01), from SEC filings.

PeriodTotal return
1 year-4.5%
3 years (annualised)-0.0%

BSBE Risk Information

Risk metrics for BSBE, derived from monthly returns in SEC filings.

  • 1-year volatility (annualised): 3.8%

BSBE Costs and Fees

BSBE costs about $29 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 0.29%
  • Gross expense ratio: 0.29%
  • Portfolio turnover: 27%
  • Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

BSBE Cashflows

Over the 12 months to 2022-11, Invesco BulletShares 2022 USD Emerging Markets Debt ETF had net outflows of $24.04M, from monthly SEC N-PORT filings.

MonthNet flow
2022-11$0
2022-10$0
2022-09$0
2022-08−$2.41M
2022-07$0
2022-06$0

BSBE Debt Constituents

No individual debt constituents are reported in Invesco BulletShares 2022 USD Emerging Markets Debt ETF's latest SEC N-PORT filing.

BSBE Prospectus and SEC Filings

Official Invesco BulletShares 2022 USD Emerging Markets Debt ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Bond funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.