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Critical Facts You Need to Know About Preferred Stocks
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Invesco S&P 500 GARP ETF
ETF
SPGP
Payout Change
Pending
Price as of:
$101.46
-0.12
-0.12%
primary theme
U.S. Large-Cap Blend Equity
SPGP (ETF)
Invesco S&P 500 GARP ETF
Payout Change
Pending
Price as of:
$101.46
-0.12
-0.12%
primary theme
U.S. Large-Cap Blend Equity
SPGP (ETF)
Invesco S&P 500 GARP ETF
Payout Change
Pending
Price as of:
$101.46
-0.12
-0.12%
primary theme
U.S. Large-Cap Blend Equity
Name
As of 04/24/2024Price
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
Vitals
YTD Return
3.9%
1 yr return
22.2%
3 Yr Avg Return
7.3%
5 Yr Avg Return
14.4%
Net Assets
$4.95 B
Holdings in Top 10
22.7%
52 WEEK LOW AND HIGH
$101.6
$83.57
$106.72
Expenses
OPERATING FEES
Expense Ratio 0.34%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 68.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 04/24/2024Price
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
SPGP - Profile
Distributions
- YTD Total Return 3.9%
- 3 Yr Annualized Total Return 7.3%
- 5 Yr Annualized Total Return 14.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.07%
- Dividend Yield 1.5%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameInvesco S&P 500 GARP ETF
-
Fund Family NameINVESCOETF
-
Inception DateJun 16, 2011
-
Shares Outstanding10350000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Jeanette
Fund Description
The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index.
Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (“S&P DJI” or the “Index Provider”) compiles, maintains and calculates the Underlying Index, which is designed to track the performance of approximately 75 growth stocks in the S&P 500® Index with relatively high quality and value composite scores, which are computed as described below.
In selecting constituent securities for the Underlying Index, the Index Provider first identifies stocks that exhibit growth characteristics by calculating the growth score for each stock in the S&P 500® Index. A stock’s growth score is the average of its: (i) three-year earnings per share (“EPS”) growth, calculated as a company’s three-year EPS compound annual growth rate and (ii) three-year sales per share (“SPS”) growth, calculated as a company’s three-year SPS compound annual growth rate. Stocks are ranked by growth score and the top 150 stocks remain eligible for inclusion in the Underlying Index.
The Index Provider then calculates a quality/value (“QV”) composite score for each of the remaining 150 stocks. A stock’s QV composite score is the average of its: (i) financial leverage ratio, calculated as a company’s
latest total debt divided by its book value; (ii) return on equity, calculated as a company’s trailing 12-month EPS divided by its latest book value per share; and (iii) earnings-to-price ratio, calculated as a company’s trailing 12-month EPS divided by its price. In accordance with the Underlying Index methodology, the remaining 150 stocks are ranked by QV composite score and the top 75 stocks are selected and form the Underlying Index.
The Underlying Index components are weighted by growth score and no security will have a weight below 0.05% or above 5%. Additionally, each sector, as defined according to the Global Industry Classification Standard (“GICS®”),will be subject to a maximum weight of 40%.
As of June 30, 2023, the Underlying Index was comprised of 75 constituents with market capitalizations ranging from $9.27billion to $3.05trillion.
The Fund employs a “full replication” methodology in seeking to track the Underlying Index, meaning that the Fund generally invests in all of the securities comprising the Underlying Index in proportion to their weightings in the Underlying Index.
The Fund intends to be “diversified,” as defined in the Investment Company Act of 1940, as amended (the “1940 Act”), to the extent that the Underlying Index is diversified. The Fund may become “non-diversified” as defined in the 1940 Act solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the Underlying Index. Should the Fund become “non-diversified,” it will no longer be required to meet certain diversification requirements under the 1940 Actand may invest a greater portion of its assets in securities of a small group of issuers or in any one individual issuer than can a diversified fund. Shareholder approval will not be sought when the Fund crosses from diversified to non-diversified status solely due to a change in relative market capitalization or index weighting of one or more constituents of the Underlying Index. In seeking to track the Underlying Index, the Fund was managed as diversified as of April 30, 2023.
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 April 30, 2023, the Fund had significant exposure to the health care sector. The Fund’s portfolio holdings, and the extent to which it concentrates its investments, are likely to change over time.
SPGP - Performance
Return Ranking - Trailing
| Period | SPGP Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.9% | -1.8% | 12.5% | 88.42% |
| 1 Yr | 22.2% | 2.3% | 44.9% | 69.30% |
| 3 Yr | 7.3%* | -11.8% | 27.1% | 42.88% |
| 5 Yr | 14.4%* | -1.9% | 106.4% | 7.82% |
| 10 Yr | 14.5%* | 2.5% | 20.6% | 0.24% |
* Annualized
Return Ranking - Calendar
| Period | SPGP Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 18.7% | -42.6% | 47.4% | 49.80% |
| 2022 | -14.9% | -56.3% | -4.2% | 9.70% |
| 2021 | 34.7% | -27.2% | 53.7% | 0.73% |
| 2020 | 14.2% | -36.2% | 2181.7% | 36.02% |
| 2019 | 37.9% | -22.7% | 40.4% | 0.18% |
Total Return Ranking - Trailing
| Period | SPGP Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.9% | -1.8% | 12.5% | 88.42% |
| 1 Yr | 22.2% | 2.3% | 44.9% | 69.30% |
| 3 Yr | 7.3%* | -11.8% | 27.1% | 42.88% |
| 5 Yr | 14.4%* | -1.9% | 106.4% | 7.82% |
| 10 Yr | 14.5%* | 2.5% | 20.6% | 0.24% |
* Annualized
Total Return Ranking - Calendar
| Period | SPGP Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 20.3% | -5.0% | 47.4% | 70.34% |
| 2022 | -13.8% | -36.8% | -2.2% | 20.05% |
| 2021 | 35.7% | 3.0% | 124.3% | 1.71% |
| 2020 | 16.0% | -15.8% | 2266.0% | 56.19% |
| 2019 | 39.2% | -0.4% | 241.3% | 0.62% |
SPGP - Holdings
Concentration Analysis
| SPGP | Category Low | Category High | SPGP % Rank | |
|---|---|---|---|---|
| Net Assets | 4.95 B | 2.34 M | 1.55 T | 27.18% |
| Number of Holdings | 77 | 1 | 4053 | 60.64% |
| Net Assets in Top 10 | 974 M | 885 K | 387 B | 35.51% |
| Weighting of Top 10 | 22.68% | 0.3% | 112.0% | 93.06% |
Top 10 Holdings
- Invesco Private Prime Fund 4.85%
- Nucor Corp. 2.12%
- Diamondback Energy, Inc. 2.12%
- Steel Dynamics, Inc. 2.11%
- Marathon Petroleum Corp. 2.07%
- CF Industries Holdings, Inc. 2.04%
- Vertex Pharmaceuticals Inc. 1.98%
- Invesco Private Government Fund 1.89%
- Coterra Energy Inc. 1.78%
- Expeditors International of Washington, Inc. 1.73%
Asset Allocation
| Weighting | Return Low | Return High | SPGP % Rank | |
|---|---|---|---|---|
| Stocks | 99.96% | 0.00% | 124.03% | 4.40% |
| Cash | 6.74% | 0.00% | 99.06% | 4.95% |
| Preferred Stocks | 0.00% | 0.00% | 2.38% | 53.02% |
| Other | 0.00% | -13.91% | 100.00% | 68.89% |
| Convertible Bonds | 0.00% | 0.00% | 5.54% | 50.51% |
| Bonds | 0.00% | -0.50% | 93.78% | 53.42% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SPGP % Rank | |
|---|---|---|---|---|
| Healthcare | 31.22% | 0.00% | 60.70% | 0.48% |
| Financial Services | 19.46% | 0.00% | 55.59% | 9.19% |
| Technology | 19.01% | 0.00% | 48.94% | 77.46% |
| Industrials | 10.77% | 0.00% | 29.90% | 26.70% |
| Consumer Cyclical | 7.90% | 0.00% | 30.33% | 82.57% |
| Consumer Defense | 6.28% | 0.00% | 47.71% | 68.98% |
| Communication Services | 5.35% | 0.00% | 27.94% | 84.89% |
| Utilities | 0.00% | 0.00% | 20.91% | 92.73% |
| Real Estate | 0.00% | 0.00% | 31.91% | 93.37% |
| Energy | 0.00% | 0.00% | 41.64% | 92.41% |
| Basic Materials | 0.00% | 0.00% | 25.70% | 97.04% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SPGP % Rank | |
|---|---|---|---|---|
| US | 99.96% | 0.00% | 124.03% | 3.46% |
| Non US | 0.00% | 0.00% | 62.81% | 60.64% |
SPGP - Expenses
Operational Fees
| SPGP Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.34% | 0.01% | 16.07% | 82.69% |
| Management Fee | 0.29% | 0.00% | 1.90% | 28.49% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.85% | N/A |
Sales Fees
| SPGP Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| SPGP Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | 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.
| SPGP Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 68.00% | 0.00% | 496.00% | 84.74% |
SPGP - Distributions
Dividend Yield Analysis
| SPGP | Category Low | Category High | SPGP % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.50% | 0.00% | 25.73% | 49.76% |
Dividend Distribution Analysis
| SPGP | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | SemiAnnual |
Net Income Ratio Analysis
| SPGP | Category Low | Category High | SPGP % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.07% | -54.00% | 6.06% | 28.31% |
Capital Gain Distribution Analysis
| SPGP | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 22, 2024 | $0.382 | OrdinaryDividend |
| Dec 22, 2023 | $0.403 | OrdinaryDividend |
| Sep 22, 2023 | $0.340 | OrdinaryDividend |
| Jun 23, 2023 | $0.216 | OrdinaryDividend |
| Mar 24, 2023 | $0.256 | OrdinaryDividend |
| Dec 23, 2022 | $0.259 | OrdinaryDividend |
| Sep 23, 2022 | $0.290 | OrdinaryDividend |
| Jun 30, 2022 | $0.231 | OrdinaryDividend |
| Mar 31, 2022 | $0.226 | OrdinaryDividend |
| Dec 31, 2021 | $0.155 | OrdinaryDividend |
| Sep 30, 2021 | $0.154 | OrdinaryDividend |
| Jun 30, 2021 | $0.126 | OrdinaryDividend |
| Mar 31, 2021 | $0.238 | OrdinaryDividend |
| Dec 31, 2020 | $0.134 | OrdinaryDividend |
| Sep 30, 2020 | $0.151 | OrdinaryDividend |
| Jun 30, 2020 | $0.274 | OrdinaryDividend |
| Mar 31, 2020 | $0.232 | OrdinaryDividend |
| Dec 31, 2019 | $0.168 | OrdinaryDividend |
| Sep 30, 2019 | $0.196 | OrdinaryDividend |
| Jun 28, 2019 | $0.115 | OrdinaryDividend |
| Mar 29, 2019 | $0.066 | OrdinaryDividend |
| Dec 31, 2018 | $0.176 | OrdinaryDividend |
| Sep 28, 2018 | $0.096 | OrdinaryDividend |
| Jun 29, 2018 | $0.122 | OrdinaryDividend |
| Mar 29, 2018 | $0.040 | OrdinaryDividend |
| Dec 29, 2017 | $0.103 | OrdinaryDividend |
| Sep 29, 2017 | $0.075 | OrdinaryDividend |
| Jun 30, 2017 | $0.101 | OrdinaryDividend |
| Mar 31, 2017 | $0.029 | OrdinaryDividend |
| Dec 30, 2016 | $0.131 | OrdinaryDividend |
| Sep 30, 2016 | $0.077 | OrdinaryDividend |
| Jun 30, 2016 | $0.092 | OrdinaryDividend |
| Dec 31, 2015 | $0.084 | OrdinaryDividend |
| Sep 30, 2015 | $0.058 | OrdinaryDividend |
| Jun 30, 2015 | $0.146 | OrdinaryDividend |
| Mar 31, 2015 | $0.097 | OrdinaryDividend |
| Dec 31, 2014 | $0.184 | OrdinaryDividend |
| Sep 30, 2014 | $0.123 | OrdinaryDividend |
| Jun 30, 2014 | $0.129 | OrdinaryDividend |
| Mar 31, 2014 | $0.059 | OrdinaryDividend |
| Dec 31, 2013 | $0.186 | OrdinaryDividend |
| Sep 30, 2013 | $0.093 | OrdinaryDividend |
| Jun 28, 2013 | $0.282 | OrdinaryDividend |
| Mar 28, 2013 | $0.021 | OrdinaryDividend |
| Dec 31, 2012 | $0.166 | OrdinaryDividend |
| Sep 28, 2012 | $0.058 | OrdinaryDividend |
| Jun 29, 2012 | $0.112 | OrdinaryDividend |
| Dec 30, 2011 | $0.105 | OrdinaryDividend |
| Sep 30, 2011 | $0.066 | OrdinaryDividend |
SPGP - Fund Manager Analysis
Managers
Michael Jeanette
Start Date
Tenure
Tenure Rank
Jun 16, 2011
10.96
11.0%
Michael Jeanette, Senior Portfolio Manager of Invesco Capital Management LLC, has been associated with Invesco Capital Management LLC since 2008. Prior to joining Invesco Capital Management LLC, Mr. Jeanette was a trust advisor and GM of Chicago based Richard Lamb, LLC from 1998 to 2007.
Peter Hubbard
Start Date
Tenure
Tenure Rank
Jun 16, 2011
10.96
11.0%
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.
Tony Seisser
Start Date
Tenure
Tenure Rank
Aug 29, 2014
7.76
7.8%
Tony Seisser is a Vice President and Portfolio Manager of Invesco PowerShares Capital Management LLC since December 2013. Prior to joining the Adviser, he was employed by Guggenheim Funds Distributors, Inc. where he was a trader from 2010 to 2013. Prior to that, Mr. Seisser was a compliance investigator at the Chicago Board of Options Exchange and Chicago Futures Exchange from 2008 to 2010.
Pratik Doshi
Start Date
Tenure
Tenure Rank
Aug 28, 2020
1.76
1.8%
Pratik Doshi is a Portfolio Manager of Invesco Capital Management. Mr. Doshi has been a Portfolio Manager of Invesco Capital Management since October 2019 and has been associated with Invesco Capital Management since 2018. Prior to joining Invesco Capital Management, Mr. Doshi was a business student in the MBA program at the University of Chicago from 2016 to 2018. From 2014 to 2016, he served as a Vice President at Bank of America, and from 2007 to 2014 he served as Assistant Vice President at Barclays Capital.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 39.02 | 7.23 | 2.42 |
