USEQ — Invesco Russell 1000 Enhanced Equal Weight ETF
Data updated: 2023-04-28
USEQ — Invesco Russell 1000 Enhanced Equal Weight ETF. Developed ex-US Large Cap Value Equity · $2.62M AUM. Holdings, fees, performance and SEC filings.
USEQ Fund Overview
USEQ — Invesco Russell 1000 Enhanced Equal Weight ETF is a US ETF managed by Invesco Exchange-Traded Fund Trust II, categorised as Developed ex-US Large Cap Value 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: Developed ex-US Large Cap Value Equity
- Assets under management: $2.62M
- 1-year return: -2.9%
- Ticker: USEQ
- SEC CIK: 0001378872
- SEC series ID: S000058134
- Share class ID: C000190367
USEQ Investment Objective and Strategy
Invesco Russell 1000 Enhanced Equal Weight 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 Russell 1000 Enhanced Equal Weight Portfolio (the “Fund”) seeks to track the investment results (before fees and expenses) of the Russell 1000 ® Enhanced Value Equal Weight Index (the “Underlying Index”).
Principal investment strategy
The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index. Frank Russell Company (Russell or the Index Provider) compiles, maintains and calculates the Underlying Index, which is composed of securities in the Russell 1000 Index (the Russell 1000) exhibiting upward price momentum and fair valuations. The Underlying Index is a subset of the Russell 1000, which measures the performance of the large-cap segment of the U.S. equity universe. Strictly in accordance with its guidelines and mandated procedures, the Index Provider selects constituent securities for the Underlying Index using a three-step screening process from the initial 1000 securities. First, Russell excludes securities with zero or negative earnings over the past 12 months. Second, Russell screens for value stocks.
A value stock tends to trade at a lower price than the price at which such stock would be expected to trade given the fundamentals of its company (e.g., dividends, earnings and sales), and thus may be considered undervalued by investors. Russell assigns a valuation score to each eligible security, which represents the average of three financial metrics of a company: (i) cash flow yield; (ii) earnings yield; and (iii) sales-to-price ratio. Russell excludes stocks with value scores in the bottom 10% of all eligible stocks. In the third step, Russell screens for securities with greater positive price momentum. In general, there is a tendency for recent changes in a stocks price to persist for some time into the future. The trend in the change of a stocks price may be upward (positive momentum) or downward (negative momentum).
A positive momentum style of investing emphasizes investing in stocks that have had better recent performance compared to other stocks, on the expectation that such a positive trend will continue because of the stocks momentum in the market. Russell defines momentum as the cumulative total return of a stock, measured over the last 12 months, excluding the most recent month. Stocks are ranked from highest returns to lowest returns over that period within each of 10 industries (as defined using the Industry Classification Benchmark) and stocks with returns ranking in the bottom 10% of each industry are excluded. The remaining securities are included in the Underlying Index (stocks with missing valuation, earnings or momentum data are excluded). Constituent securities in the Underlying Index are equally weighted.
The Underlying Index also may include securities of mid-cap issuers. Therefore, due to the equal weighting methodology of the Underlying Index, the Fund may have greater exposure to mid-cap issuers than would be the case if the Underlying Index used a traditional capitalization-weighted methodology. The Fund generally invests in all of the components of 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 sector.
The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or sector.
USEQ Performance
Total returns for USEQ (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -2.9% |
| 3 years (annualised) | 11.9% |
USEQ Risk Information
Risk metrics for USEQ, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 23.8%
USEQ Costs and Fees
USEQ costs about $29 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.29%
- Gross expense ratio: 0.29%
- Portfolio turnover: 37%
- Brokerage commissions: 1.19 bps of average net assets (SEC N-CEN)
USEQ Cashflows
Over the 12 months to 2023-02, Invesco Russell 1000 Enhanced Equal Weight ETF had net outflows of $883.01K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-02 | $0 |
| 2023-01 | $0 |
| 2022-12 | $0 |
| 2022-11 | $0 |
| 2022-10 | −$573 |
| 2022-09 | $0 |
USEQ Debt Constituents
No individual debt constituents are reported in Invesco Russell 1000 Enhanced Equal Weight ETF's latest SEC N-PORT filing.
USEQ Prospectus and SEC Filings
Official Invesco Russell 1000 Enhanced Equal Weight 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 2023-04-28
- Portfolio holdings (N-PORT) — filed 2023-01-30
- Portfolio holdings (N-PORT) — filed 2022-10-31
- Annual census (N-CEN) — filed 2022-11-14
- Annual census (N-CEN) — filed 2021-11-15
Related Funds
Other Developed ex-US Large Cap Value 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.