Invesco Preferred Shares UCITS ETF (PRFD.L)

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This Invesco ETF, the Preferred Shares UCITS ETF Dist, seeks to replicate the net total return performance of the ICE BofA Diversified Core Plus Fixed Rate Preferred Securities Index (referred to as the “Reference Index”), after accounting for its fees and expenses. Income from the fund is distributed to shareholders on a quarterly basis. The Reference Index is composed of fixed-rate preferred shares, denominated in US dollars, which originate from the US domestic market. Holdings within the index are weighted by their market capitalization, subject to a maximum allocation of 10% per individual issuer. An additional diversification rule prevents more than 40% of the Reference Index from being made up of issuers that each exceed 5% of the index’s total value. Securities must meet specific credit quality criteria, requiring an average rating of at least B3 from the three primary ratings agencies (Moody’s, S&P, and Fitch), and the country of origin for these securities must hold an investment-grade risk profile. To achieve its aim, the fund’s strategy involves physically acquiring and holding, as far as is practicable, all the securities of the Reference Index in their corresponding proportions. Both the Reference Index and the fund's portfolio are subject to monthly rebalancing and reconstitution. This ETF is a passively managed, index-tracking investment vehicle, meaning an investment constitutes ownership of units in the fund itself, rather than direct ownership of the underlying assets held within it.