Description

The Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist aims to replicate the overall investment performance of the Morningstar MLP Composite Index (the "Reference Index"), after deducting all associated charges. This fund issues dividends to its investors every three months. The Reference Index is designed to offer broad and diverse access to US-listed energy master limited partnerships (MLPs). Each component within the index is weighted based on the monetary value of its annual distribution, with a maximum allocation of 10%. It targets the top 97% of MLPs as measured by their market capitalization. The index's value is computed daily, its composition is rebalanced quarterly, and it undergoes a thorough review biannually. To fulfill its objective, the fund maintains a portfolio of various equities, which typically contribute the majority of the fund's returns, although these holdings generally differ from the actual constituents of the Reference Index. Additionally, the fund utilizes unfunded swaps, which are contracts through which one or more approved financial institutions agree to exchange with the fund any variance between the returns generated by the Reference Index and those of the equity portfolio held. This approach seeks to achieve a more precise and consistent alignment with the Reference Index's performance than would typically be feasible through direct physical replication alone. This ETF is managed passively, meaning an investment represents the acquisition of units in a benchmark-following fund rather than direct ownership of its underlying assets.