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Invesco Financial Preferred ETF

ETF
PGF
Payout Change
Pending
Price as of:
$14.68 -0.09 -0.61%
primary theme
Preferred Stock
PGF (ETF)

Invesco Financial Preferred ETF

Payout Change
Pending
Price as of:
$14.68 -0.09 -0.61%
primary theme
Preferred Stock
PGF (ETF)

Invesco Financial Preferred ETF

Payout Change
Pending
Price as of:
$14.68 -0.09 -0.61%
primary theme
Preferred Stock

Name

As of 04/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Invesco Financial Preferred ETF

PGF | ETF

$14.68

$946 M

0.00%

0.56%

Vitals

YTD Return

2.2%

1 yr return

5.9%

3 Yr Avg Return

-3.1%

5 Yr Avg Return

0.8%

Net Assets

$946 M

Holdings in Top 10

21.9%

52 WEEK LOW AND HIGH

$14.8
$13.14
$15.32

Expenses

OPERATING FEES

Expense Ratio 0.56%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 04/12/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Invesco Financial Preferred ETF

PGF | ETF

$14.68

$946 M

0.00%

0.56%

PGF - Profile

Distributions

  • YTD Total Return 2.2%
  • 3 Yr Annualized Total Return -3.1%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.02%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Invesco Financial Preferred ETF
  • Fund Family Name
    INVESCOETF
  • Inception Date
    Dec 01, 2006
  • Shares Outstanding
    83750000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Peter Hubbard

Fund Description

The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index.
ICE Data Indices, LLC (the “Index Provider”) compiles and calculates the Underlying Index, a market capitalization weighted index designed to track the performance of exchange-listed, fixed rate U.S. dollar denominated preferred securities, and securities that the Index Provider believes are functionally equivalent to preferred securities, issued in the U.S. domestic market by financial companies. The Index Provider considers financial companies to be banking, brokerage, finance, investment and insurance companies. Securities that qualify for the Underlying Index must be listed on either The Nasdaq Stock Market (“Nasdaq”) or the New York Stock Exchange (“NYSE”) as their primary listing exchange. The Underlying Index only includes securities with no final maturity date (i.e., perpetuals) and whose payments are “qualified dividend income” (“QDI”) under the U.S. tax code. Further, the Underlying Index only includes securities that are rated at least B3 by Moody’s Investors Service (“Moody’s”) or B- by S&P Global Ratings (“S&P”), that have a minimum amount outstanding of $250 million, and that meet other minimum liquidity, trading volume and other requirements, as determined by the Index Provider.
In general, preferred stock is a class of equity security that pays distributions to preferred stockholders. Preferred stockholders have priority over common stockholders in the payment of specified dividends, such that preferred stockholders receive dividends before any dividends are paid to common stockholders. In addition, preferred stock takes precedence over common stock in receiving proceeds from an issuer in the event of the issuer’s liquidation, but is generally junior to debt, including senior and subordinated debt. Although preferred stocks represent a partial ownership interest in a company, preferred stocks generally do not carry voting rights. Preferred stocks have economic characteristics similar to fixed-income securities; for example, preferred stocks generally pay dividends at a specified rate, which may be fixed or variable. The Underlying Index may include fixed-to-floating rate preferred securities (securities that have an initial term with a fixed dividend rate and subsequently bear a floating dividend rate), provided that these securities are callable within the fixed rate period and are at least one day from the last call before transitioning from a fixed rate to a floating rate. Preferred stocks often have a liquidation value that equals the original purchase price of the stock at the time of issuance.
The Underlying Index may include securities of large-, mid- and small-capitalization companies.
As of June 30, 2023, the Underlying Index contained 104 constituents with market capitalizations ranging from approximately $171 million to $1.8 billion.
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”).
Concentration Policy. The Fund will concentrate its investments (i.e., invest 25% or more of the value of its total 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 April 30, 2023, the Fund had significant exposure to the financials sector. The Fund’s portfolio holdings, and the extent to which it concentrates its investments, are likely to change over time.
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PGF - Performance

Return Ranking - Trailing

Period PGF Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -2.6% 4.7% 60.26%
1 Yr 5.9% 2.4% 20.3% 85.90%
3 Yr -3.1%* -8.5% 6.7% 77.78%
5 Yr 0.8%* -5.3% 5.4% 74.24%
10 Yr 3.6%* 0.8% 4.6% 44.44%

* Annualized

Return Ranking - Calendar

Period PGF Return Category Return Low Category Return High Rank in Category (%)
2023 1.2% -3.6% 14.2% 34.62%
2022 -23.5% -29.4% -9.6% 75.00%
2021 -2.0% -3.4% 17.2% 83.33%
2020 1.8% -24.8% 9.0% 17.39%
2019 8.7% 6.4% 19.1% 90.77%

Total Return Ranking - Trailing

Period PGF Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -2.6% 4.7% 60.26%
1 Yr 5.9% 2.4% 20.3% 85.90%
3 Yr -3.1%* -8.5% 6.7% 77.78%
5 Yr 0.8%* -5.3% 5.4% 74.24%
10 Yr 3.6%* 0.8% 4.6% 44.44%

* Annualized

Total Return Ranking - Calendar

Period PGF Return Category Return Low Category Return High Rank in Category (%)
2023 7.7% -1.9% 26.5% 28.21%
2022 -19.2% -26.0% -5.8% 73.61%
2021 2.7% -2.5% 27.4% 63.89%
2020 7.3% -19.2% 12.3% 11.59%
2019 14.5% 10.0% 32.0% 90.77%

PGF - Holdings

Concentration Analysis

PGF Category Low Category High PGF % Rank
Net Assets 946 M 24.1 M 14.5 B 51.28%
Number of Holdings 99 45 450 85.90%
Net Assets in Top 10 206 M 7.69 M 1.65 B 55.13%
Weighting of Top 10 21.88% 12.1% 48.1% 42.31%

Top 10 Holdings

  1. JPMorgan Chase Co., Series EE, Pfd. 2.56%
  2. Invesco Private Prime Fund 2.42%
  3. Wells Fargo Co., Series Z, Pfd. 2.31%
  4. JPMorgan Chase Co., Series DD, Pfd. 2.30%
  5. Allstate Corp. (The), Series H, Pfd. 2.21%
  6. JPMorgan Chase Co., Series LL, Pfd. 2.18%
  7. JPMorgan Chase Co., Series MM, Pfd. 2.17%
  8. Capital One Financial Corp., Series I, Pfd. 1.96%
  9. Bank of America Corp., Series GG, Pfd. 1.90%
  10. Bank of America Corp., Series KK, Pfd. 1.86%

Asset Allocation

Weighting Return Low Return High PGF % Rank
Preferred Stocks 		100.06% 0.00% 125.53% 2.56%
Cash 		3.51% -0.02% 10.76% 16.67%
Stocks 		0.00% 0.00% 28.30% 69.23%
Other 		0.00% -4.48% 12.19% 55.13%
Convertible Bonds 		0.00% 0.00% 31.65% 89.33%
Bonds 		0.00% 0.00% 98.46% 87.18%

PGF - Expenses

Operational Fees

PGF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.56% 0.05% 4.46% 83.12%
Management Fee 0.50% 0.00% 1.00% 17.95%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.55% N/A

Sales Fees

PGF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

PGF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PGF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 12.00% 199.00% 35.00%

PGF - Distributions

Dividend Yield Analysis

PGF Category Low Category High PGF % Rank
Dividend Yield 0.00% 0.00% 9.60% 23.08%

Dividend Distribution Analysis

PGF Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

PGF Category Low Category High PGF % Rank
Net Income Ratio 5.02% 0.88% 7.54% 17.57%

Capital Gain Distribution Analysis

PGF Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

PGF - Fund Manager Analysis

Managers

Peter Hubbard

Start Date

Tenure

Tenure Rank

Jun 01, 2007

15.01

15.0%

Peter Hubbard, Vice President and Director of Portfolio Management of the Invesco PowerShares Capital Management LLC. Mr. Hubbard has been a Portfolio Manager of the Adviser since June 2007 and has been associated with the Adviser since 2005. Prior to joining the Invesco PowerShares Capital Management LLC, Hubbard was a research analyst and trader for Ritchie Capital from September 2003 to May 2005.

Gary Jones

Start Date

Tenure

Tenure Rank

Aug 30, 2013

8.76

8.8%

Gary Jones is a Portfolio Manager of Invesco PowerShares Capital Management LLC and has been one of the Portfolio Managers primarily responsible for the day-to-day management of the Funds since January 2012. Mr. Jones has been a Portfolio Manager of the Adviser since December 2010. Previously, he was a Portfolio Manager of Van Kampen Investments from 2007 to 2009.

Richard Ose

Start Date

Tenure

Tenure Rank

Aug 29, 2014

7.76

7.8%

Richard Ose is a Vice President and Portfolio Manager of the Invesco PowerShares Capital Management LLC and has been employed by the Invesco PowerShares Capital Management LLC since 2011. Mr. Ose has been a Portfolio Manager of the Invesco PowerShares Capital Management LLC since July 2011. Prior to joining the Invesco PowerShares Capital Management LLC, Mr. Ose was an equity and derivatives trader at Claymore Advisors from 2007 to 2011.

Tom Boska

Start Date

Tenure

Tenure Rank

Aug 28, 2019

2.76

2.8%

Greg Meisenger

Start Date

Tenure

Tenure Rank

May 07, 2021

1.07

1.1%

Greg Meisenger, Portfolio Manager of Invesco Capital Management LLC. Mr. Meisenger has been associated with Invesco since March 2018. Prior to joining Invesco, Mr. Meisenger was a Senior Fixed Income Trader/Portfolio Manager with Columbia Threadneedle Investments since 2014. Prior to joining Columbia Threadneedle Investments, Mr. Meisenger was a Senior Fixed Income Trader with Thrivent Financial from 2004 to 2014.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 30.32 7.8 11.42

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