Product Detail Invesco S&P 500 GARP ETF (2024)

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Ticker: SPGP

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    Product Details

    The Invesco S&P 500 GARP ETF (Fund) is based on the S&P 500 Growth at a Reasonable Price Index (Index). The Fund will invest at least 90% of its total assets in the component securities that comprise the Index. The Index is composed of approximately 75 securities in the S&P 500® Index that have been identified as having the highest “growth scores” and “quality and value composite scores,” calculated pursuant to the index methodology. The Index constituents are weighted based on their growth scores. The Fund and the Index are rebalanced and reconstituted semi-annually.

    On May 22, 2015, at the close of markets, changes to the Fund's name, investment objective, investment policy, investment strategies, Index and index provider were made. Frank Russell Company replaced Research Affiliates, LLC as the index provider for the Fund. The Index name changed from RAFI Fundamental Large Growth Index to Russell Top 200 Pure Growth Index. The Fund name changed from PowerShares Fundamental Pure Large Growth Portfolio to PowerShares Russell Top 200 Pure Growth Portfolio.

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    as of 12/31/2023 12/31/2023

    Performance

    Index History (%)YTD1Yr3Yr5Yr10YrSince Inception
    S&P 500 GARP Index20.6820.6812.39N/AN/AN/A
    S&P 500 Index26.2926.2910.0015.6912.0313.33
    Fund History (%)
    Fund NAV20.3020.3012.0217.8114.4215.09
    After Tax Held19.6419.6411.6417.4414.0914.73
    After Tax Sold11.9811.989.2714.3612.0712.89
    Fund Market Price20.3420.3412.0017.9614.4315.10
    Index History (%)YTD1Yr3Yr5Yr10YrSince Inception
    S&P 500 GARP Index20.6820.6812.39N/AN/AN/A
    S&P 500 Index26.2926.2910.0015.6912.0313.33
    Fund History (%)
    Fund NAV20.3020.3012.0217.8114.4215.09
    After Tax Held19.6419.6411.6417.4414.0914.73
    After Tax Sold11.9811.989.2714.3612.0712.89
    Fund Market Price20.3420.3412.0017.9614.4315.10

    Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

    as of 12/31/2023

    Growth of $10,000

    Data beginning Fund inception and ending 12/31/2023. Fund performance shown at NAV.

    S&P 500 Growth at a Reasonable Price Index* performance prior to 5/22/2015 reflects that of the original Underlying Index, RAFI Fundamental Large Growth Index. From 5/22/2015 to 6/21/2019, performance reflects that of the previousUnderlying Index, Russell Top 200 Pure Growth Index. From 6/21/2019 forward, performance reflects that of the Underlying Index, S&P 500 Growth at a Reasonable Price Index AND IS NOT INTENDED FOR ANY THIRD PARTY USE.

    An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

    as of01/25/2024

    Sector Allocation

    SectorPercent of Fund
    Energy24.81%
    Information Technology23.00%
    Materials12.58%
    Consumer Discretionary10.68%
    Health Care8.79%
    Industrials8.73%
    Financials6.11%
    Consumer Staples2.73%
    Communication Services1.48%
    Real Estate1.09%

    as of 01/25/2024Top Holdings | View All

    Fund Holdings subject to change

    TickerCompany% of Fund
    FANG Diamondback Energy Inc2.13
    CF CF Industries Holdings Inc2.06
    STLD Steel Dynamics Inc2.01
    NUE Nucor Corp1.96
    MPC Marathon Petroleum Corp1.94
    VRTX Vertex Pharmaceuticals Inc1.94
    KLAC KLA Corp1.85
    CTRA Coterra Energy Inc1.79
    EXPD Expeditors International of Washington Inc1.76
    MOS Mosaic Co/The1.74

    The characterizations of distributions reflected in this table are as of the date noted below. The actual amounts of income, capital gains and return of capital for tax purposes are only determined after the Fund’s fiscal year end, and may differ from the amounts and characterizations reflected in the chart below. Please refer to the Tax Center for the most current and/or final characterizations of these distributions, including any distributions characterized as return of capital.

    Distributions | HideView All | Distribution Information

    Ex-DateRecord DatePay Date$/
    Share
    Ordinary IncomeShort Term GainsLong Term GainsReturn of CapitalLiquidation Distribution
    12/18/202312/19/202312/22/20230.403110.40311----
    09/18/202309/19/202309/22/20230.340190.34019----
    06/20/202306/21/202306/23/20230.215980.21598----
    03/20/202303/21/202303/24/20230.255600.25560----
    12/19/202212/20/202212/23/20220.258620.25862----
    09/19/202209/20/202209/23/20220.289620.28962----
    06/21/202206/22/202206/30/20220.230900.23090----
    03/21/202203/22/202203/31/20220.225980.22598----
    12/20/202112/21/202112/31/20210.154480.15448----
    09/20/202109/21/202109/30/20210.154050.15405----
    06/21/202106/22/202106/30/20210.126270.12627----
    03/22/202103/23/202103/31/20210.237710.23771----
    12/21/202012/22/202012/31/20200.134140.13414----
    09/21/202009/22/202009/30/20200.151150.15115----
    06/22/202006/23/202006/30/20200.274360.27436----
    03/23/202003/24/202003/31/20200.232220.23222----
    12/23/201912/24/201912/31/20190.168340.16834----
    09/23/201909/24/201909/30/20190.195450.19545----
    06/24/201906/25/201906/28/20190.114810.11481----
    03/18/201903/19/201903/29/20190.066250.06625----
    12/24/201812/26/201812/31/20180.176180.17618----
    09/24/201809/25/201809/28/20180.096400.09640----
    06/18/201806/19/201806/29/20180.122160.12216----
    03/19/201803/20/201803/29/20180.039960.03996----
    12/18/201712/19/201712/29/20170.102520.10252----
    09/18/201709/19/201709/29/20170.075350.07535----
    06/16/201706/20/201706/30/20170.101320.10132----
    03/17/201703/21/201703/31/20170.028570.02857----
    12/16/201612/20/201612/30/20160.130570.13057----
    09/16/201609/20/201609/30/20160.076500.07650----
    06/17/201606/21/201606/30/20160.092240.09224----
    03/18/201603/22/201603/31/2016------
    12/18/201512/22/201512/31/20150.083970.08397----
    09/18/201509/22/201509/30/20150.058000.05800----
    06/19/201506/23/201506/30/20150.145710.14571----
    03/20/201503/24/201503/31/20150.096970.09697----
    12/19/201412/23/201412/31/20140.184400.18440----
    09/19/201409/23/201409/30/20140.122870.12287----
    06/20/201406/24/201406/30/20140.128760.12876----
    03/21/201403/25/201403/31/20140.059360.05936----
    12/24/201312/27/201312/30/20130.018810.01881----
    12/20/201312/24/201312/31/20130.186260.18626----
    09/20/201309/24/201309/30/20130.092920.09292----
    06/21/201306/25/201306/28/20130.281910.28191----
    03/15/201303/19/201303/28/20130.021170.02117----
    12/21/201212/26/201212/31/20120.166180.16618----
    09/21/201209/25/201209/28/20120.057840.05784----
    06/15/201206/19/201206/29/20120.111870.11187----
    03/16/201203/20/201203/30/20120.000000.00000----
    12/16/201112/20/201112/30/20110.104920.10492----
    09/16/201109/20/201109/30/20110.065740.06574----

    Distribution Information

    During the period October 27, 2015, through December 7, 2015, the Invesco Floating Rate Fund declared daily distributions in excess of daily net investment income, which was reflected in Distribution yield test.

    Close

    Frequency Distribution of Discounts & Premiums

    • Bid/Ask MidPoint Above NAV
    • Bid/Ask Midpoint Below NAV
    Bid/Ask MidPoint Above NAV
    Quarter
    Ending
    Days 0.00-
    0.25%
    0.26-
    0.50%
    0.51-
    0.99%
    1.00-
    1.49%
    1.50-
    1.99%
    ≥2.00%
    12/31/2023634300000
    09/30/2023634601000
    06/30/2023623710100
    03/31/2023623500000
    Year Ended 202325016111100
    Bid/Ask Midpoint Below NAV
    Quarter
    Ending
    Days 0.00-
    0.25%
    0.26-
    0.50%
    0.51-
    0.99%
    1.00-
    1.49%
    1.50-
    1.99%
    ≥2.00%
    12/31/2023632000000
    09/30/2023631501000
    06/30/2023622002100
    03/31/2023622601000
    Year Ended 20232508104100

    Fund Inception : 06/16/2011

    Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results.

    Premiums/Discounts

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    Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results.

    Typically, security classifications used in calculating allocation tables are as of the last trading day of the previous month.

    There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Fund's return may not match the return of the Underlying Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

    Growth stocks tend to be more sensitive to changes in their earnings and can be more volatile.

    Investments focused in a particular sector, such as healthcare, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

    The Fund may become “non-diversified”, as defined under the Investment Company Act of 1940, as amended, solely as a result of a change in relative market capitalization or index weighting of one or more constitutes of the Index. Shareholder approval will not be sought when the Fund crosses from diversified to non-diversified status under such circumstances.

    A value style of investing is subject to the risk that the valuations never improve or that the returns will trail other styles of investing or the overall stock markets.

    The S&P 500 Growth at a Reasonable Price Index holds approximately 75 securities in the S&P 500® Index that have been identified as having the highest “growth scores” and “quality and value composite scores,” calculated pursuant to the index methodology. Underlying Index constituents are weighted based on their growth scores

    The Russell Top 200® Index measures the performance of the largest cap segment of the US equity universe. The Russell 1000® Growth Index is an unmanaged index considered representative of large-cap growth stocks. The Russell Top 200 Pure Growth Index is composed of securities with strong growth characteristics selected from the Russell Top 200® Index. Russell is a trademark/service marks of the Frank Russell Co. Russell® is a trademark of the Frank Russell Co. The RAFI Fundamental Large Growth Index is composed of common stocks of large growth US companies based on fundamental weight.

    The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.

    S&P® is a registered trademark of Standard & Poor's Financial Services LLC (S&P) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones). These trademarks have been licensed for use by S&P Dow Jones Indices LLC. S&P® and Standard & Poor's® are trademarks of S&P and Dow Jones® is a trademark of Dow Jones. These trademarks have been sublicensed for certain purposes by Invesco Capital Management LLC. The Index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Invesco. The Fund is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates make any representation regarding the advisability of investing in such product(s).

    Beta is a measure of risk representing how a security is expected to respond to general market movements. Smart Beta represents an alternative and selection index based methodology that seeks to outperform a benchmark or reduce portfolio risk, or both. Smart beta funds may underperform cap-weighted benchmarks and increase portfolio risk.

    As a financial expert with a deep understanding of investment products and the intricacies of financial markets, let me provide an insightful analysis of the information related to the Invesco S&P 500 GARP ETF, as outlined in the article.

    Invesco S&P 500 GARP ETF (Ticker: SPGP) Overview:

    The Invesco S&P 500 GARP ETF is an Exchange-Traded Fund offered by Invesco Distributors, Inc. The fund is designed to track the S&P 500 Growth at a Reasonable Price Index, which comprises around 75 securities from the S&P 500 Index with the highest "growth scores" and "quality and value composite scores."

    Key Information:

    1. Investment Strategy:

      • The fund aims to invest at least 90% of its total assets in the component securities of the S&P 500 Growth at a Reasonable Price Index.
      • Securities in the index are selected based on growth scores, quality, and value composite scores.
    2. Changes in 2015:

      • On May 22, 2015, there were significant changes to the fund, including the name, investment objective, investment policy, and index provider.
      • Frank Russell Company replaced Research Affiliates, LLC as the index provider, and the index name changed to Russell Top 200 Pure Growth Index.
    3. Performance:

      • The performance data is provided for various time periods, including monthly, quarterly, and since inception.
      • The fund's performance is compared to the S&P 500 GARP Index and the S&P 500 Index.
    4. Sector Allocation (as of 01/25/2024):

      • The fund is diversified across sectors, with the highest allocations in Energy (24.81%) and Information Technology (23.00%).
    5. Top Holdings (as of 01/25/2024):

      • The fund's top holdings include companies like Diamondback Energy Inc, CF Industries Holdings Inc, Steel Dynamics Inc, Nucor Corp, and others.
    6. Distribution Information:

      • The table provides details on distribution dates, amounts, and types, including ordinary income, short-term gains, long-term gains, return of capital, and liquidation distribution.
    7. Growth of $10,000:

      • The chart illustrates the growth of $10,000 invested in the fund since its inception, comparing it to the S&P 500 Growth at a Reasonable Price Index.
    8. Sector Allocation and Distribution Yield Test:

      • Sector allocation information shows the percentage of the fund allocated to different sectors.
      • Distribution yield test information indicates the frequency distribution of discounts and premiums.
    9. Risk Factors and Considerations:

      • The prospectus mentions various risks, including the sensitivity of growth stocks to earnings changes, sector concentration risk, and the possibility of the fund becoming "non-diversified."
    10. Indexes and Trademarks:

      • The fund tracks the S&P 500 Growth at a Reasonable Price Index and was previously based on the Russell Top 200 Pure Growth Index.
      • Various trademarks and indexes such as S&P, Dow Jones, and Russell are mentioned, emphasizing the fund's adherence to specific methodologies.

    In conclusion, the Invesco S&P 500 GARP ETF provides investors with exposure to growth-oriented stocks within the S&P 500 universe. The fund's performance, sector allocations, and distribution details offer valuable insights for both individual and institutional investors. Always remember that past performance does not guarantee future results, and investors should carefully consider the risks outlined in the prospectus before making investment decisions.

    Product Detail Invesco S&P 500 GARP ETF (2024)

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