Invesco BulletShares 2021 Municipal Bond ETF

C000203490 Fund Overview

Invesco BulletShares 2021 Municipal Bond ETF is a US ETF managed by Invesco Exchange-Traded Self-Indexed Fund Trust, categorised as Money Market. 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: Money Market
• Assets under management: $40.34M
• 1-year return: 0.2%
• SEC CIK: 0001657201
• SEC series ID: S000062843
• Share class ID: C000203490

C000203490 Investment Objective and Strategy

Invesco BulletShares 2021 Municipal Bond 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 2021 Municipal Bond ETF (the Fund) seeks to track the investment results (before fees and expenses) of the Invesco BulletShares Municipal Bond 2021 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 seeks to measure the performance of a portfolio of U.S. dollar-denominated investment-grade municipal bonds with maturities or, in some cases, effective maturities, in the year 2021 (collectively, 2021 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, the effective maturity is the actual year of maturity (i) if no embedded issuer call option exists for a bond; (ii) if a bond contains an embedded issuer call option, with the first call date within 13 months of maturity and a par call price; and (iii) 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.

The effective maturity of eligible pre-refunded municipal bonds with a known pre-refunding date shall be the year of the pre-refunded date. In selecting components for inclusion in the Underlying Index, the Index Provider begins with an investment universe of U.S. dollar-denominated bonds issued by U.S. states, state agencies, territories and possessions of the United States, the District of Columbia or local governments. To be eligible for inclusion in the Underlying Index, bonds must (i) be exempt from federal income tax; (ii) pay fixed amounts of interest; (iii) be rated at least BBB- by S&P Global Ratings, a division of S&P Global Inc. (S&P), or Fitch Ratings Inc. (Fitch), or at least Baa3 by Moodys Investors Service, Inc. (Moodys); and (iv) have at least $15 million in face value outstanding (current Underlying Index components require 80% of the initial minimum face value qualification to remain eligible (e.g., $12 million in face value outstanding)).

The eligible universe may include callable, puttable, and pre-refunded bonds. 2021 Bonds selected for inclusion in the Underlying Index are market value weighted, with a 5% limit on individual issuers applied at each monthly rebalance. Bonds held by the Fund generally will be held until they mature, are called or no longer meet the eligibility requirements of the Underlying Index and are removed from the Underlying Index. As of August 31, 2020, the Underlying Index was comprised of 2,339 constituents. The Fund will terminate on or about December 15, 2021. 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.

During the maturing year of the Underlying Index (i.e., 2021), no new constituents are added and the Underlying Index does not rebalance. In the last twelve months of operation, when the 2021 Bonds held by the Fund mature or are called, the proceeds are not reinvested in 2021 Bonds. Instead, the Fund will invest such proceeds in any combination of variable rate demand obligations (VRDOs), certain derivatives (i.e., exchange-traded futures on fixed income securities, fixed income security indices, interest rates and currencies; exchange-traded and over-the-counter (OTC) options on fixed income securities, interest rates, currencies, interest rate futures contracts, and fixed income security indices; exchange-traded and OTC interest rate and inflation swaps; and OTC total return swaps and forwards on fixed income securities, fixed income security indices, and fixed income security futures), exchange-traded funds (ETFs), including affiliated ETFs, affiliated money market funds, cash or cash equivalents and investment-grade short-term commercial paper, as well as municipal bonds not included in the Underlying Index, but which the Adviser believes will help the Fund track the Underlying Index.

The Fund will terminate on or about December 15, 2021 without requiring additional approval by the Board of Trustees (the Board) of Invesco Exchange-Traded Self-Indexed Fund Trust (the Trust) or Fund shareholders, although the Board may change the termination date. 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 securities of issuers in any one industry or group of industries.

C000203490 Performance

Total returns for C000203490 (as of 2026-10-01), from SEC filings.

C000203490 Risk Information

Risk metrics for C000203490, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 0.2%

C000203490 Costs and Fees

C000203490 costs about $18 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.18%
• Gross expense ratio: 0.18%
• Portfolio turnover: 2%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000203490 Cashflows

Over the 12 months to 2021-11, Invesco BulletShares 2021 Municipal Bond ETF had net inflows of $10.13M, from monthly SEC N-PORT filings.

C000203490 Debt Constituents

No individual debt constituents are reported in Invesco BulletShares 2021 Municipal Bond ETF's latest SEC N-PORT filing.

C000203490 Prospectus and SEC Filings

Official Invesco BulletShares 2021 Municipal Bond ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-12-21
• Prospectus (485BPOS) — filed 2019-09-26
• Portfolio holdings (N-PORT) — filed 2022-01-31
• Portfolio holdings (N-PORT) — filed 2021-10-29
• Portfolio holdings (N-PORT) — filed 2021-07-30
• Annual census (N-CEN) — filed 2021-11-15
• Annual census (N-CEN) — filed 2020-11-16

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

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.