Invesco S&P High Income Infrastructure ETF

C000197636 Fund Overview

Invesco S&P High Income Infrastructure ETF is a US ETF managed by Invesco Exchange-Traded Fund Trust II, categorised as Global (incl. US) Small Cap Value Industrials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Invesco Exchange-Traded Fund Trust II
• Category: Global (incl. US) Small Cap Value Industrials Equity
• Assets under management: $62.50M
• SEC CIK: 0001378872
• SEC series ID: S000060820
• Share class ID: C000197636

C000197636 Investment Objective and Strategy

Invesco S&P High Income Infrastructure ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Invesco Exchange-Traded Fund Trust II.

Investment objective

The PowerShares S&P High Income Infrastructure Portfolio (the “Fund”) seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called the S&P High Income Infrastructure Index (the “Infrastructure Index” or the “Underlying Index”).

Principal investment strategy

The Fund, using a passive or indexing investment approach, seeks investment results that correspond generally to the performance, before the Funds fees and expenses, of the Infrastructure Index. The Infrastructure Index is designed to measure and monitor the performance of 50 high-yielding global equity securities of companies that engage in various infrastructure-related sub-industries. Underlying Index constituents must meet size, listing and liquidity requirements and also be part of the S&P Global BMI Index, which is a rules-based index that measures global stock market performance. Underlying Index constituents must be equity securities of companies classified in one of the infrastructure clusters (the Infrastructure Clusters) determined by the S&P Dow Jones Index Group, based on the Global Industry Classification Standard (GICS ) sub-industry classifications as follows: Energy Infrastructure Cluster: Oil & Gas Storage & Transportation Sub-Industry Transportation Infrastructure Cluster: Airport Services Sub-Industry Highway & Railtracks Sub-Industry Marine Ports & Services Sub-Industry Utilities Infrastructure Cluster: Electric Utilities Sub-Industry Gas Utilities Sub-Industry Multi Utilities Sub-Industry Water Utilities Sub-Industry Securities in the Infrastructure Clusters must have a float-adjusted market capitalization (i.e., a market capitalization that is calculated based on the number of shares that are readily available in the market rather than all shares outstanding) greater than $250 million, a three-month average daily value traded of $1 million or higher and be listed on a developed market stock exchange.

The top 50 highest-yielding securities that meet these criteria (ranked by 12-month dividend yield) are selected for inclusion in the Infrastructure Index. The Fund will invest at least 90% of its total assets in common stocks that comprise the Underlying Index and depositary receipts representing common stocks included in the Underlying Index. The Board of Trustees (the Board) of the PowerShares Exchange-Traded Fund Trust II (the Trust) may change the Funds investment strategy and other policies without shareholder approval, except as otherwise indicated. The Fund generally will invest in all of the securities comprising the Underlying Index in proportion to their weightings in the Underlying Index. However, under various circumstances, it may not be possible or practicable to purchase all of the securities in the Underlying Index in those weightings.

In those circumstances, the Fund may purchase a sample of the securities in the Underlying Index in proportions expected by Invesco PowerShares Capital Management LLC (the Adviser) to correspond generally to the performance of the Underlying Index as a whole. There may also be instances when the Adviser may choose to overweight another security in the Underlying Index or purchase (or sell) securities not in the Underlying Index which the Adviser believes are appropriate to substitute for one or more Underlying Index components, in seeking to accurately track the Underlying Index, such as: (i) regulatory requirements possibly affecting the Funds ability to hold a security in the Underlying Index, (ii) restrictions or requirements in local markets possibly rendering it infeasible or inefficient for the Fund to purchase or sell a security in the Underlying Index, or (iii) liquidity concerns possibly affecting the Funds ability to purchase or sell a security in the Underlying Index.

In addition, from time to time securities are added to or removed from the Underlying Index. The Fund may sell securities that are represented in the Underlying Index or purchase securities that are not yet represented in the Underlying Index in anticipation of their removal from or addition to the Underlying Index pursuant to scheduled reconstitutions and rebalancings of the Underlying Index. 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 sector only to the extent that the Underlying Index reflects a concentration in that industry or sector.

The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or sector. As of March 30, 2018, the utilities and energy sectors each represented a substantial portion of the Underlying Index.

C000197636 Costs and Fees

C000197636 costs about $45 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.45%
• Gross expense ratio: 0.45%
• Portfolio turnover: 41%
• Brokerage commissions: 3.74 bps of average net assets (SEC N-CEN)

C000197636 Cashflows

Over the 12 months to 2019-11, Invesco S&P High Income Infrastructure ETF had net inflows of $0, from monthly SEC N-PORT filings.

C000197636 Debt Constituents

No individual debt constituents are reported in Invesco S&P High Income Infrastructure ETF's latest SEC N-PORT filing.

C000197636 Prospectus and SEC Filings

Official Invesco S&P High Income Infrastructure ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-01-14
• Prospectus (485BPOS) — filed 2019-01-15
• Prospectus supplement (497) — filed 2018-06-06
• Portfolio holdings (N-PORT) — filed 2020-01-29
• Annual census (N-CEN) — filed 2019-11-14
• Annual census (N-CEN) — filed 2018-11-15

Related Funds

Related funds tracked on ABC INVEST:

• Invesco NASDAQ 100 ETF (QQQM)
• Invesco S&P 500 Momentum ETF (SPMO)
• Invesco MSCI USA ETF (PBUS)
• Invesco S&P 500 Revenue ETF (RWL)
• Invesco Senior Loan ETF (BKLN)

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.