Invesco Corporate Income Defensive ETF

C000201203 Fund Overview

Invesco Corporate Income Defensive ETF is a US ETF managed by Invesco Exchange-Traded Self-Indexed Fund Trust, categorised as Corporate Bond. 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 Self-Indexed Fund Trust
• Category: Corporate Bond
• Assets under management: $12.86M
• SEC CIK: 0001657201
• SEC series ID: S000062195
• Share class ID: C000201203

C000201203 Investment Objective and Strategy

Invesco Corporate Income Defensive 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 Corporate Income Defensive ETF (the “Fund”) seeks to track the investment results (before fees and expenses) of the Invesco High Yield Defensive 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, which is designed to provide exposure to U.S. corporate bonds having the highest ""quality scores"" within an eligible universe of U.S. high yield bonds (commonly known as ""junk bonds"") and bonds with the lowest credit rating considered investment grade, all as determined by the Index Provider using its methodology described below. The Index Provider is affiliated with Invesco Capital Management LLC, the Fund's investment adviser (the ""Adviser""), and Invesco Distributors, Inc., the Fund's distributor (the ""Distributor"").

In selecting components for inclusion in the Underlying Index, the Index Provider begins with an investment universe of all U.S. dollar-denominated bonds issued by U.S. companies. To be eligible for inclusion in the Underlying Index, bonds must (i) be rated higher than B- and lower than or equal to BBB- (or equivalent) by S&P Global Ratings, a division of S&P Global Inc. (""S&P""), Fitch Ratings Inc. (""Fitch"") or Moody's Investors Service, Inc. (""Moody's"") credit rating agencies; (ii) have at least $400 million outstanding, with only the largest bond from each issuer eligible; (iii) have at least two years, and no more than ten years, until final maturity; and (iv) make coupon payments. Qualifying securities include: fixed rate, bullet bonds, sinking funds, amortizing, puttable, extendable, callable, and step-up bonds with schedules known at issuance.

Securities issued in accordance with Rule 144A (""Rule 144A securities"") under the Securities Act of 1933, as amended (""Securities Act""), bonds registered with the Securities and Exchange Commission (""SEC""), publicly underwritten medium-term notes and Eurodollar bonds are all eligible for inclusion in the Underlying Index. The Index Provider assigns a quality score (Quality Score) to each eligible bond, which is calculated based on such bonds maturity and credit rating. With respect to maturity, each bond is scored based on the number years remaining to maturity, with bonds having fewer years to maturity receiving higher scores. With respect to credit factor score, each rating agencys rating is converted into a numerical value and a bonds credit factor score is calculated as an equally-weighted average of the numerical scores of each agency that has rated the bond.

The maturity and credit factors for each bond are standardized across the universe of eligible bonds, and the Quality Score for each bond is computed as an equally-weighted combination of these two factors. All eligible securities are ranked by Quality Score. Initially, bonds with Quality Scores in the top 40% of eligible securities are selected for inclusion in the Underlying Index. At each monthly Underlying Index rebalance, any eligible security with a Quality Score in the top 30% of eligible securities is added to the Underlying Index, and current Underlying Index components with a quality score in the bottom 50% of eligible securities are removed. The Underlying Index will typically include between 100-300 securities, which are equally weighted. 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."

C000201203 Costs and Fees

C000201203 costs about $23 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.23%
• Gross expense ratio: 0.23%
• Portfolio turnover: 78%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000201203 Cashflows

Over the 12 months to 2019-11, Invesco Corporate Income Defensive ETF had net inflows of $0, from monthly SEC N-PORT filings.

C000201203 Debt Constituents

No individual debt constituents are reported in Invesco Corporate Income Defensive ETF's latest SEC N-PORT filing.

C000201203 Prospectus and SEC Filings

Official Invesco Corporate Income Defensive ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-01-10
• Prospectus (485BPOS) — filed 2019-01-11
• Prospectus supplement (497) — filed 2018-08-08
• Portfolio holdings (N-PORT) — filed 2020-01-29
• Annual census (N-CEN) — filed 2019-11-14
• Annual census (N-CEN) — filed 2018-11-14

Related Funds

Other Corporate Bond funds tracked on ABC INVEST:

• First Trust Preferred Securities and Income ETF (FPE)
• Nuveen Preferred Securities and Income Fund (NPSAX)
• Spectrum Preferred and Capital Securities Income Fund (PNARX)
• Invesco Variable Rate Preferred ETF (VRP)
• First Trust Institutional Preferred Securities and Income ETF (FPEI)

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.