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Invesco Announces Changes to Four ETFs

PBP, CQQQ and RYJ to reduce fees; fee waiver extended for ICLO

ATLANTA, Jan. 4, 2024 /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ), a leading global asset management firm, has announced that it will implement changes to four ETFs, as further outlined below. These changes reflect Invesco's commitment to continually evaluate its product line and provide a better investment experience for its clients.

(PRNewsfoto/Invesco Ltd.)
(PRNewsfoto/Invesco Ltd.)

Effective at market open on Jan. 1, Invesco has agreed to extend the fee waiver for Invesco AAA CLO Floating Rate Note ETF (ICLO) through April 30, 2024.

Effective at market open on Jan. 5, Invesco's management fee for Invesco China Technology ETF (CQQQ) will be reduced from 70 bps to 65 bps, and the management fee for Invesco S&P 500 BuyWrite ETF (PBP) will be reduced from 49 bps to 29 bps.

Fund name

Ticker

Current
mgmt. fee
(bps)

Effective
net mgmt.

fee (bps)

Effective

Invesco AAA CLO Floating Rate
Note ETF

ICLO

26

0*

Jan. 1, 2024

– April 30, 2024

Invesco China Technology ETF

CQQQ

70

65

Jan. 5, 2024

Invesco S&P BuyWrite ETF

PBP

49

29

Jan. 5, 2024

*

The Adviser has voluntarily agreed to extend the fee waiver previously set to expire on Dec. 31, 2023, waiving 100% of its management fee for the Fund through April 30, 2024.

Also effective at market open on March 25, Invesco's management fee for Invesco Raymond James SB-1 Equity ETF (RYJ) will be reduced from 75 bps to 40 bps, and Invesco will make modifications to the name, ticker and underlying index of RYJ, as outlined below.

Current
fund name
(ticker)

Current
index

Current
index
provider

New fund
name (ticker)

New index

New index
provider

Current
mgmt.
fee
(bps)

Effective
net
mgmt.
fee (bps)

Effective

Invesco
Raymond
James SB-1
Equity ETF

(RYJ)

Raymond
James
SB-1
Equity
Index

Raymond
James
Research
Services,
LLC

Invesco
Bloomberg
Analyst Rating
Improvers
ETF (UPGD)

Bloomberg
ANR
Improvers
Index

Bloomberg
Index
Services
Limited

75

40

March 25,
2024

In addition to the changes mentioned above, effective at market open on Jan. 25, PBP's listing will transfer from NYSE Arca to Cboe BZX Exchange, as outlined below.

Fund name

Ticker

Current
exchange

New exchange

Effective

Invesco S&P BuyWrite ETF

PBP

NYSE Arca

Cboe BZX Exchange

Jan. 25, 2024

"Bps" refers to the unit of measurement known as "basis points," used to describe a percentage value or rate. One basis point is equivalent to 0.01% (1/100th of a percent) or 0.0001 in decimal form.

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About Invesco Ltd.
Invesco Ltd. is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive, and alternative investment capabilities. With offices in more than 20 countries, Invesco managed $1.49 trillion in assets on behalf of clients worldwide as of Sept. 30, 2023. For more information, visit www.invesco.com.

Important Information
Not a Deposit  |  Not FDIC Insured  |  Not Guaranteed by the Bank  |  May Lose Value  |  Not Insured by any Federal Government Agency

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.

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

Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. An issuer may be unable to meet interest and/or principal payments, thereby causing its instruments to decrease in value and lowering the issuer's credit rating.

Shares are not individually redeemable and owners of the Shares may acquire those Shares from the Fund and tender those Shares for redemption to the Fund in Creation Unit aggregations only, typically consisting of 10,000, 20,000, 25,000, 50,000, 80,000, 100,000 or 150,000 Shares.

Before investing, investors should carefully read the prospectus/summary prospectus and carefully consider the investment objectives, risks, charges and expenses. For this and more complete information about the Fund call 800 983 0903 or visit invesco.com for the prospectus/summary prospectus.

Invesco Distributors, Inc. is the US distributor for Invesco's retail products and private placements, and Invesco Capital Management LLC is the investment adviser for ETFs. Both entities are indirect, wholly owned subsidiaries of Invesco Ltd.

01/24 NA3306620

Contact: Rachael Peng, +713.214.4193 rachael.peng@invesco.com

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SOURCE Invesco Ltd.