PBND — Invesco PureBetaSM US Aggregate Bond ETF
Data updated: 2023-07-31
PBND — Invesco PureBetaSM US Aggregate Bond ETF. Money Market · $22.05M AUM · 0.05% expense ratio. Holdings, fees, performance and SEC filings.
PBND Fund Overview
PBND — Invesco PureBetaSM US Aggregate Bond ETF is a US ETF managed by Invesco Exchange-Traded Fund Trust II, 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 Fund Trust II
- Category: Money Market
- Assets under management: $22.05M
- 1-year return: -1.8%
- Ticker: PBND
- SEC CIK: 0001378872
- SEC series ID: S000058750
- Share class ID: C000192792
PBND Investment Objective and Strategy
Invesco PureBetaSM US Aggregate Bond 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 PureBeta SM US Aggregate Bond Portfolio (the “Fund”) seeks to track the investment results (before fees and expenses) of the ICE BofAML US Broad Market Index SM (the “Underlying Index”).
Principal investment strategy
The Fund generally will invest at least 80% of its total assets in the component securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, ICE Data Indices, LLC (the Index Provider) compiles, maintains and calculates the Underlying Index, which is designed to provide a broad measure of the performance of the domestic investment grade bond market, represented by U.S. dollar-denominated, investment grade debt securities that are publicly offered for sale in the United States. Constituent securities may include U.S. Treasury notes and bonds, quasi-government securities, corporate securities, residential and commercial mortgaged-backed securities and asset-backed securities. Transactions in U.S. government agency mortgage-backed securities may occur through standardized agreements for forward or future delivery in which the actual mortgage pools to be delivered are not specified until shortly prior to settlement (to be announced (TBA) transactions).
The Fund may engage in such TBA transactions. Pending settlement of TBA transactions, the Fund will invest its assets in high-quality, liquid, short-term instruments, including affiliated money market funds. The Fund also may acquire interests in mortgage pools through means other than such standardized agreements for forward or future delivery. To qualify for inclusion in the Underlying Index, securities must have: (i) at least one year to final maturity; (ii) at least 18 months to final maturity when issued; (iii) a fixed coupon schedule; and (iv) with the exception of U.S. Treasuries, an investment grade rating (based on an average of Moodys Investors Services, Inc. (Moodys), S&P Global Ratings, a division of S&P Global Inc. (S&P) and Fitch Ratings, Inc. (Fitch)). Original issue zero coupon bonds, Rule 144A securities, corporate pay-in-kind securities and hybrid securities (including those that may convert into preferred shares) are eligible for inclusion in the Underlying Index.
However, as of the date of this Prospectus, hybrid securities represent less than 1% of the Underlying Index. Underlying Index constituents are capitalization-weighted, based on their current amount outstanding times the market price, plus accrued interest. As of December 31, 2017, the Underlying Index was comprised of approximately 14,288 securities. 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). For the avoidance of doubt, PureBeta refers to the market-capitalization weighted methodology of the Funds Underlying Index.
It does not refer in any way to the purity or absence of errors or flaws of the market-capitalization weighted methodology of the Underlying Index or of the Fund in seeking to track the investment results of the Underlying Index. 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.
PBND Performance
Total returns for PBND (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -1.8% |
| 3 years (annualised) | -3.7% |
PBND Risk Information
Risk metrics for PBND, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.8%
PBND Costs and Fees
PBND costs about $5 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.05%
- Gross expense ratio: 0.05%
- Portfolio turnover: 23%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
PBND Cashflows
Over the 12 months to 2023-05, Invesco PureBetaSM US Aggregate Bond ETF had net outflows of $29.47M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-05 | −$11.09M |
| 2023-04 | −$2.22M |
| 2023-03 | −$13.37M |
| 2023-02 | −$51.21M |
| 2023-01 | $22.34M |
| 2022-12 | $8.82M |
PBND Debt Constituents
No individual debt constituents are reported in Invesco PureBetaSM US Aggregate Bond ETF's latest SEC N-PORT filing.
PBND Prospectus and SEC Filings
Official Invesco PureBetaSM US Aggregate Bond ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-12-15
- Prospectus (485BPOS) — filed 2021-12-17
- Prospectus (485BPOS) — filed 2020-12-21
- Portfolio holdings (N-PORT) — filed 2023-07-31
- Portfolio holdings (N-PORT) — filed 2023-05-01
- Portfolio holdings (N-PORT) — filed 2023-01-30
- Annual census (N-CEN) — filed 2022-11-14
- Annual census (N-CEN) — filed 2021-11-15
Related Funds
Other Money Market 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.