GRPZ — Invesco S&P SmallCap 600 GARP ETF
Data updated: 2026-07-30
GRPZ — Invesco S&P SmallCap 600 GARP ETF. United States Small Cap Growth Equity · $2.94M AUM. Holdings, fees, performance and SEC filings.
GRPZ Fund Overview
GRPZ — Invesco S&P SmallCap 600 GARP ETF is a US ETF managed by Invesco Exchange-Traded Fund Trust II, categorised as United States Small Cap Growth 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: United States Small Cap Growth Equity
- Assets under management: $2.94M
- 1-year return: 24.1%
- Ticker: GRPZ
- SEC CIK: 0001378872
- SEC series ID: S000084357
- Share class ID: C000248728
GRPZ Investment Objective and Strategy
Invesco S&P SmallCap 600 GARP 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 Invesco S&P SmallCap 600 GARP ETF (the Fund) seeks to track the investment results (before fees and expenses) of the S&P SmallCap 600 GARP Index (the Underlying Index).
Principal investment strategy
The Fund generally will invest at least 90% of its total assets in the securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (the Index Provider) compiles, maintains and calculates the Underlying Index, which is designed to track the performance of approximately 90 growth stocks in the S&P SmallCap 600 Index (the Parent Index) with high quality and value composite scores, which are computed as described below. The Parent Index is comprised of common stocks of approximately 600 small-capitalization companies that generally represent the small-cap segment of the U.S. equity market. The Fund defines small-capitalization companies as companies whose securities are included in the Parent Index. As of October 31, 2025, companies eligible for inclusion in the Parent Index had a market capitalization between $1.2 billion to $8.0 billion at the time of their inclusion in the Parent Index; these market capitalization guidelines may fluctuate depending on the overall level of equity markets.
In selecting constituent securities for the Underlying Index, the Index Provider first identifies stocks that exhibit growth characteristics by calculating the growth score for each stock in the Parent Index. A stocks growth score is the average of its: (i) three-year earnings per share (EPS) growth, calculated as a companys three-year EPS compound annual growth rate, and (ii) three-year sales per share (SPS) growth, calculated as a companys three-year SPS compound annual growth rate. Stocks are ranked by growth score and the 180 stocks with the highest growth scores remain eligible for inclusion in the Underlying Index. The Index Provider then calculates a quality/value (QV) composite score for each of these 180 stocks. A stocks QV composite score is the average of its: (i) financial leverage ratio, calculated as a companys latest total debt divided by its book value; (ii) return on equity, calculated as a companys trailing 12-month EPS divided by its latest book value per share; and (iii) earnings-to-price ratio, calculated as a companys trailing 12-month diluted EPS divided by its price.
In accordance with the Underlying Index methodology, the Index Provider ranks these 180 stocks by QV composite score. The top 90 stocks resulting from this ranking comprise the Underlying Index. The constituents of the Underlying Index are weighted based on their respective growth scores, such that stocks with relatively higher growth scores will have a greater weighting in the Underlying Index. No security will have a weight that is less than 0.05% or more than 5% of the Underlying Index. Additionally, each sector, as defined according to the Global Industry Classification Standard (GICS ), will be subject to a maximum weight of 40%. As of October 31, 2025, the Underlying Index was comprised of 90 constituents with market capitalizations ranging from $547.9 million to $11.5 billion. The Fund employs a full replication methodology in seeking to track the Underlying Index, meaning that the Fund generally invests in all of the securities comprising the Underlying Index in proportion to their weightings in 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 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.
GRPZ Holdings
Top 10 holdings of Invesco S&P SmallCap 600 GARP ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Invesco Private Prime Fund | 24.01% |
| Invesco Private Government Fund | 9.29% |
| Powell Industries, Inc. | 3.71% |
| International Seaways, Inc. | 2.55% |
| Catalyst Pharmaceuticals, Inc. | 2.26% |
| Tidewater Inc. | 2.08% |
| Krystal Biotech, Inc. | 2.08% |
| TG Therapeutics, Inc. | 1.93% |
| Cactus, Inc. | 1.82% |
| DXP Enterprises, Inc. | 1.80% |
GRPZ Portfolio Allocation
Asset-class allocation of Invesco S&P SmallCap 600 GARP ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.8% |
| Cash & Equivalents | 33.5% |
GRPZ Performance
Total returns for GRPZ (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 11.0% |
| 1 year | 24.1% |
| 3 years (annualised) | 8.1% |
GRPZ Risk Information
Risk metrics for GRPZ, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 14.2%
GRPZ Costs and Fees
GRPZ costs about $35 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.35%
- Gross expense ratio: 0.35%
- Portfolio turnover: 81%
- Brokerage commissions: 3.14 bps of average net assets (SEC N-CEN)
GRPZ Cashflows
Over the 12 months to 2026-05, Invesco S&P SmallCap 600 GARP ETF had net outflows of $593.74K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | −$588.41K |
| 2026-04 | $0 |
| 2026-03 | $0 |
| 2026-02 | $0 |
| 2026-01 | $0 |
| 2025-12 | −$521 |
GRPZ Debt Constituents
No individual debt constituents are reported in Invesco S&P SmallCap 600 GARP ETF's latest SEC N-PORT filing.
GRPZ Prospectus and SEC Filings
Official Invesco S&P SmallCap 600 GARP ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-12-18
- Prospectus (485BPOS) — filed 2024-12-19
- Prospectus (485BPOS) — filed 2024-03-19
- Portfolio holdings (N-PORT) — filed 2026-07-30
- Portfolio holdings (N-PORT) — filed 2026-04-29
- Portfolio holdings (N-PORT) — filed 2026-01-28
- Annual census (N-CEN) — filed 2025-11-14
- Annual census (N-CEN) — filed 2024-11-14
Related Funds
Other United States Small Cap Growth Equity 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.