BSJI Invesco BulletShares 2018 High Yield Corporate Bond ETF

Transcription

1 Invesco BulletShares 2018 High Yield Corporate Bond ETF ETF.com segment: Fixed Income: U.S. - Corporate High Yield Ultra-Short Term Competing ETFs: Related ETF Channels: North America, Ultra-Short Term, Bullet, Fixed Income, U.S., Junk Bond, Bond, Corporate Find more ETFs with our ETF Screener and Database *Unless otherwise stated, data provided by FactSet. B FUND DESCRIPTION The Invesco BulletShares 2018 High Yield Corporate Bond ETF tracks a market valueweighted index of high yield corporate bonds with effective maturities in FACTSET ANALYTICS INSIGHT As part of Invesco's BulletShares suite, behaves more like a bond than a typical bond fund. The fund provides bullet maturity in this case Dec. 31, 2018 instead of perpetual exposure to a maturity pocket of the US high-yield market. As the fund matures, its maturity, duration and YTM will continue to decline. On its target date, will unwind and return all capital to investors. This structure permits to be used as a building block for a bond ladder. By sector and credit quality, looks a lot like the market at large. It trades well on a retail level, despite Tradability not being the fund's core mission, with decent daily volume and small spreads. Creation and redemption, however, will likely cause underlying prices to move due to poor underlying liquidity. charges a reasonable fee, but struggles in tracking its index. In all, the fund provides a viable means to access a diverse pool of US high-yield bonds while mimicking the life cycle of an individual bond. SUMMARY DATA Issuer Inception Date Legal Structure Expense Ratio Assets Under Management Average Daily $ Average Spread (60- Day) PORTFOLIO DATA Weighted Avg. Yield to Next Ex-Dividend Date Number of Holdings Invesco 04/25/12 Open-Ended Fund 0.42% $581.17M $3.31M 0.05% % 10/22/18 76 INDEX DATA Index Tracked NASDAQ BulletShares USD High Yield Corporate Bond 2018 Index Index Weighting Methodology Index Selection Methodology Market Value

2 1 Year Daily Price ($) Nov Dec `18 Feb Mar Apr May Jun Jul Aug Sep Oct 8M PERFORMANCE [as of 10/04/18] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS 0.26% 0.83% 2.15% 2.26% 4.81% 3.13% (NAV) 0.17% 0.78% 2.13% 2.45% 4.91% 3.24% NASDAQ BulletShares USD High Yield Corporate Bond 2018 Index All returns over 1 year are annualized. All returns are total returns unless otherwise stated. TOP 10 COUNTRIES United States 79.77% Canada 2.04% Japan 5.90% Netherlands 0.84% Germany 4.95% Ireland 0.73% United Kingdom 2.81% Luxembourg 0.56% India 2.39% Bermuda 0.01% TOP 10 SECTORS Industrial Treasury Financial Institutions Cash Utility 61.01% 20.36% 14.89% 3.74% TOP 10 HOLDINGS United States Treasury Bi 80.25% Ally Financial Inc. 3.25% 0 Sprint Communications, I 3.47% T-Mobile USA, Inc. 6.0% 0 APX Group, Inc % % Iron Mountain Incorporate 1.22% Jaguar Land Rover Autom 2.46% Ally Financial Inc. 8.0% % TEGNA, Inc % 15-O 1.46% Level 3 Financing, Inc % Total Top 10 Weighting 96.52%

3 PORTFOLIO MANAGEMENT TAX EXPOSURES FUND STRUCTURE Expense Ratio Median Tracking Difference (12 Mo) Max. Upside Tracking Difference (12 Mo) Max. Downside Tracking Difference (12 Mo) 0.42% -0.16% 0.33% -0.58% Max LT/ST Capital Gains Rate Capital Gains Distributions (3 Year) Tax on Distributions Distributes K % / 39.60% Ordinary income No Legal Structure OTC Derivative Use Securities Lending Active Securities Lending Split (Fund/Issuer) ETN Counterparty Open-Ended Fund No Yes 100% / 0% ETN Counterparty Risk Fund Closure Risk Low Portfolio Disclosure Daily

4 Daily Spread 0.13% FACTSET ANALYTICS BLOCK LIQUIDITY As of 10/05/ % 0.07% 0.04% 0.01% This measurement shows how easy it is to trade a $1 million USD block of. is rated a 2 out of 5. Premium/Discount 0.3% 0.0% TRADABILITY Avg. Daily Share 129, % Average Daily $ $3.31M -0.5% Median Daily Share 63, % 6M 4M 2M Median Daily ($) Average Spread (%) Average Spread ($) $1.62M 0.05% $0.01 Oct Dec Feb Apr Jun Aug Oct Median Premium / Discount (12 Mo) -0.16% Max. Premium / Discount (12 Mo) 0.09% / -0.66% Impediment to Creations None Market Hours Overlap % Creation Unit Size (Shares) 100,000 Creation Unit/Day (45 Day Average) 0.64 Creation Unit Cost (%) 0.02% Underlying / Unit Open Interest on ETF Options Net Asset Value (Yesterday) $25.15 ETF.com Implied Liquidity 2

5 SECTOR/INDUSTRY BREAKDOWN TOP 10 HOLDINGS PERFORMANCE STATISTICS Industrial 61.01% 86.45% Treasury 20.36% 0.00% Financial Institutions 14.89% 11.48% Cash 3.74% 0.00% Utility 0.00% 2.07% United States Treasury Bills 0.0% 20-DEC-2018 Sprint Communications, Inc. 9.0% 15-NOV-2018 APX Group, Inc % 01-DEC-2022 Jaguar Land Rover Automotive Plc 4.125% 15-DEC % 3.47% 3.07% 2.46% Goodness of Fit (R2) Beta Up Beta Down Beta Downside Standard Deviation HOLDINGS STATISTICS TEGNA, Inc % 15- OCT % Ally Financial Inc. 3.25% 05-NOV-2018 T-Mobile USA, Inc. 6.0% 01-MAR-2023 Iron Mountain Incorporated 6.0% 15- AUG-2023 Ally Financial Inc. 8.0% 31-DEC-2018 Level 3 Financing, Inc % 01-FEB-2023 Total Top 10 Weighting 1.22% 0.93% 0.90% 96.52% Weighted Avg. Effective Key Rate (2 year) Key Rate (10 year) Yield to years % 6.78% TOP 5 COUNTRIES Credit Spread Concentration High Low United States 79.77% 75.58% Japan 5.90% 2.46% Germany 4.95% 0.21% United Kingdom 2.81% 3.41% India 2.39% 0.48% Number of Holdings Weighted Avg. Credit MATURITY DISTRIBUTION BB- B TOP 5 CURRENCIES USD % % 0-1 Year 6.79% 1-3 Years 27.84% 3-5 Years 65.37% 5-7 Years 0.00% ECONOMIC DEVELOPMENT 7-10 Years 0.00% 10+ Years 0.00% Developed Countries 97.61% 98.51% Emerging Countries 2.39% 1.49%

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