Invesco Announces Fee Reductions and Fee Waivers for three ETFs

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Invesco announces fee reductions and waivers for three ETFs

Positive

• Invesco has implemented a management fee reduction for Invesco 1-30 Laddered Treasury ETF (PLW), lowering the fee from 25 bps to 15 bps. In addition, the management fee for Invesco Total Return Bond ETF (GTO) will be waived partially through Aug. 31, 2025, resulting in a net unitary management fee of 25 basis points. Furthermore, Invesco AAA CLO Floating Rate Note ETF (ICLO) will have its entire management fee waived through Dec. 31, 2023, resulting in a total expense ratio of 0 basis points during that period.

Negative

• None.

PLW to reduce fees; ICLO and GTO implement fee waivers

ATLANTA, June 28, 2023 /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ), a leading global asset management firm, has announced that it will implement a management fee reduction or fee waiver for three 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. 

Effective at market open on June 26, Invesco's management fee for Invesco 1-30 Laddered Treasury ETF (PLW) was reduced from 25 bps to 15 bps.

Effective at market open on June 28, Invesco has agreed to waive a portion of its management fee through Aug. 31, 2025, for Invesco Total Return Bond ETF (GTO) and waive its entire management fee through Dec. 31, 2023, for Invesco AAA CLO Floating Rate Note ETF (ICLO). After giving effect to such waiver, GTO's net unitary management fee will be 25 basis points and ICLO's total expense ratio will be 0 basis points through Dec. 31, 2023. These changes are outlined below.

Fund name	Ticker	Current mgmt. fee (bps)	Effective net mgmt. fee (bps)	Effective period
Invesco 1-30 Laddered Treasury ETF	PLW	25	15	June 26, 2023 (permanent)
Invesco Total Return Bond ETF	GTO	50	25*	June 28, 2023 – Aug. 31, 2025
Invesco AAA CLO Floating Rate Note ETF	ICLO	26	0**	June 28, 2023 – Dec. 31, 2023

*	The Adviser has contractually agreed to waive fees and/or pay certain Fund expenses through at least Aug. 31, 2025.
**	The Adviser has voluntarily agreed to waive 100% of its management fee for the Fund through Dec. 31, 2023.
"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.

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 $1.5 trillion in assets on behalf of clients worldwide as of March 31, 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.

06/26  NA2973428

Contact: Jeaneen Terrio, +917.714.0358  jeaneen.terrio@invesco.com

 

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SOURCE Invesco Ltd.

FAQ

What is the management fee reduction for Invesco 1-30 Laddered Treasury ETF (PLW)?

The management fee for PLW has been reduced from 25 bps to 15 bps.

What is the effective period for the fee waiver on Invesco Total Return Bond ETF (GTO)?

The fee waiver on GTO is effective from June 28, 2023, through Aug. 31, 2025.

What is the total expense ratio for Invesco AAA CLO Floating Rate Note ETF (ICLO) during the fee waiver period?

ICLO will have a total expense ratio of 0 basis points through Dec. 31, 2023.

What does 'bps' stand for?

Bps stands for basis points, which is a unit of measurement used to describe a percentage value or rate. One basis point is equivalent to 0.01% or 0.0001 in decimal form.