Description

The Invesco KBW Premium Yield Equity REIT ETF (KBWY) is structured to mirror the investment performance of the KBW Nasdaq Premium Yield Equity REIT Index. To accomplish this, the fund generally commits at least 90% of its total assets to the securities that make up this benchmark. These investments primarily consist of publicly traded, U.S.-based small and mid-capitalization equity real estate investment trusts (REITs) that offer competitive dividend yields. The underlying index, a modified-dividend yield-weighted benchmark, is compiled, maintained, and calculated by Keefe, Bruyette & Woods, Inc., and Nasdaq, Inc. Its objective is to reflect the overall returns of these specific types of companies. The ETF typically utilizes a full replication strategy, acquiring all components of the index in proportion to their respective weightings. Both the fund and its corresponding index undergo quarterly rebalancing and reconstitution, occurring on the third Friday of March, June, September, and December.