Description

The Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist endeavors to replicate the total return performance of the Morningstar MLP Composite Index (the "Reference Index"), after accounting for its fees. Distributions are provided to investors on a quarterly basis. The underlying Reference Index is designed to offer comprehensive, diversified exposure to publicly traded U.S. energy Master Limited Partnerships (MLPs). Each component is weighted according to the monetary value of its annual distribution, with a 10% ceiling per holding. It focuses on the top 97% of MLPs by market capitalization. The index is computed daily, rebalanced quarterly, and reviewed twice a year. The fund achieves its goal by holding a distinct portfolio of equities, which typically generates the bulk of its returns, even though these holdings usually differ from those within the Reference Index. Furthermore, the fund employs unfunded swap agreements with approved counterparties. These contracts serve to exchange any difference in returns between the Reference Index and the fund's equity portfolio. This strategy aims for a more precise and consistent performance alignment with the Reference Index than would generally be feasible through direct physical replication. This ETF operates under passive management. Therefore, an investment signifies the acquisition of units in a passively managed, index-tracking fund, rather than direct ownership of the specific assets held by the fund.