ISEM — Invesco RAFI Strategic Emerging Markets ETF

Data updated: 2023-05-01

ISEM — Invesco RAFI Strategic Emerging Markets ETF. China Real Estate · $43.13M AUM · 0.35% expense ratio. Holdings, fees, performance and SEC filings.

ISEM Fund Overview

ISEM — Invesco RAFI Strategic Emerging Markets ETF is a US ETF managed by Invesco Exchange-Traded Self-Indexed Fund Trust, categorised as China Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

ISEM Investment Objective and Strategy

Invesco RAFI Strategic Emerging Markets 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 Strategic Emerging Markets ETF (the “Fund”) seeks to track the investment results (before fees and expenses) of the Invesco Strategic Emerging Markets 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 and American depositary receipts (ADRs) and global depositary receipts (GDRs) that are based on securities in 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 measure the performance of equity securities issued by higher quality, large-business-sized companies located in countries designated as emerging market countries. 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 Index Provider selects components for inclusion in the Underlying Index from an investment universe of foreign equity securities with at least one year of trading history, issued by companies located in countries designated as emerging market countries.

Each eligible equity security is assigned a business-size score (Business-Size Score) based on the equally-weighted average of the following four factors of company size over the prior five years (or, if shorter, the life of the security): sales, operating cash flow, total return of capital (dividends and share repurchases) and book value. For real estate securities (real estate investment trusts (REITs) and common stocks of companies in the real estate sector), operating cash flow is replaced by funds from operations and book value is replaced by total assets. Each eligible security is then assigned a quality score (Quality Score) based on the equally-weighted average of the following two quality factors of its companys business: efficiency (calculated as the ratio of sales-to-assets in the prior year) and growth (calculated as the percentage change in the ratio of sales-to-assets over the prior five years (or, if shorter, the life of the security)).

Each eligible security is ranked in descending order by its Business-Size Score. Those securities in the top 90% by Business-Size Score are eligible for inclusion in the Underlying Index and, of those, the 80% with the highest Quality Scores are included in the Underlying Index. Securities in the Underlying Index are weighted based on their float-adjusted Business-Size Scores. As of July 31, 2018, there were 380 constituents in the Underlying Index. As of July 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. The Fund generally invests in all of the securities comprising its 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. As of July 31, 2018, a significant portion of the Underlying Index was represented by the energy sector and, accordingly, the Adviser anticipates that the Fund may concentrate 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.

ISEM Performance

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

PeriodTotal return
1 year-7.6%
3 years (annualised)4.4%

ISEM Risk Information

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

  • 1-year volatility (annualised): 32.4%

ISEM Costs and Fees

ISEM costs about $35 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 0.35%
  • Gross expense ratio: 0.35%
  • Portfolio turnover: 37%
  • Brokerage commissions: 5.02 bps of average net assets (SEC N-CEN)

ISEM Cashflows

Over the 12 months to 2023-02, Invesco RAFI Strategic Emerging Markets ETF had net inflows of $18.54M, from monthly SEC N-PORT filings.

MonthNet flow
2023-02−$4.84M
2023-01$6.35M
2022-12$2.23M
2022-11$4.82M
2022-10$0
2022-09$0

ISEM Debt Constituents

No individual debt constituents are reported in Invesco RAFI Strategic Emerging Markets ETF's latest SEC N-PORT filing.

ISEM Prospectus and SEC Filings

Official Invesco RAFI Strategic Emerging Markets ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other China Real Estate 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.