Invesco Bloomberg Commodity ex-Agriculture UCITS ETF (XAAG.DE)

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This Invesco ETF seeks to replicate the overall return of its benchmark, the Bloomberg ex-Agriculture and Livestock 20/30 Capped Index, after accounting for associated expenses. The underlying index serves as a highly liquid and broad measure for commodities, specifically excluding agricultural and livestock products. It comprises futures contracts across 11 key commodities, spanning the energy, industrial metals, and precious metals sectors. To maintain diversification, these commodities are weighted according to their market liquidity and global production levels, with specific limits applied to individual and group exposures. To achieve its investment goal, the fund primarily invests in US Treasury Bills and a selection of other high-quality, short-term debt instruments. It augments this strategy with unfunded swap agreements. Through these agreements, approved financial institutions undertake to pay the fund the difference between the Reference Index's performance and a predetermined rate linked to the yield of the US Treasury Bills held by the fund. Classified under Article 6 of the SFDR, this fund's details regarding Sustainability Risks are outlined in the Prospectus Addendum, accessible in the Documents section. The manager may receive an annual payment from the swap counterparties, up to 0.11% of the notional value of the swaps, which helps cover some of the fund's operational expenses. Importantly, this payment does not diminish the fund's net asset value nor impose any additional charges on investors. As a passively managed, index-tracking ETF, an investment here signifies purchasing units in the fund itself, rather than gaining direct ownership of the constituent commodities.