Invesco US High Yield Fallen Angels UCITS ETF Dist

Invesco US High Yield Fallen Angels UCITS ETF Dist is an exchange-traded fund designed to provide exposure to US corporate bonds that have been downgraded from investment grade to high yield, commonly referred to as "fallen angels." The ETF tracks the FTSE Time-Weighted US Fallen Angel Bond Select Index through physical replication using a sampling technique, investing in a curated selection of the index's constituent bonds. This approach enables the fund to capture the credit re-rating potential and sector diversification of fallen angels, reflecting both the risks and opportunities present in this segment of the fixed income market. The ETF holds a geographically concentrated portfolio, with the majority of assets invested in US dollar-denominated bonds, and smaller allocations in countries such as Ireland, Canada, Liberia, and the Cayman Islands. As a distributing fund, it pays out interest income (coupons) to investors on a quarterly basis. Launched in September 2016 and domiciled in Ireland, the fund has grown to manage approximately EUR 83 million in assets. Its structure facilitates broad and diversified access to high yield corporate credit while maintaining cost efficiency through a total expense ratio of 0.45% per annum.