Invesco Bloomberg Analyst Rating Improvers ETF

Frequently Asked Questions About UPGD

What does UPGD invest in?

The Invesco Bloomberg Analyst Rating Improvers ETF, ticker symbol UPGD, is an investment vehicle designed to track the performance of the Bloomberg ANR Improvers Index. This exchange-traded fund typically commits at least 90% of its total holdings to the securities that comprise its underlying index. The index itself identifies the top 50 companies from the Bloomberg US Large Mid Universe that have shown the greatest improvement in analyst recommendations over the preceding six- and twelve-month periods. Both the index and the fund are rebalanced quarterly, specifically in March, June, September, and December. As of March 25, 2024, the fund underwent several significant changes. It was formerly known as the Invesco Raymond James SB-1 Equity ETF (RYJ). The fund's name, ticker symbol, and underlying index provider shifted from Raymond James Research Services, LLC to Bloomberg Index Services Limited. Consequently, its benchmark index changed from the Raymond James SB-1 Equity Index to the Bloomberg ANR Improvers Index. These adjustments also redefined the fund's investment objective and core strategy to mirror the performance of the new Bloomberg ANR Improvers Index by investing a minimum of 90% of its assets in its constituents. Additionally, a prior non-fundamental policy, which mandated investing at least 80% of assets in securities implied by its former name, was removed. Concurrently, the annual management fee for the fund was reduced from 0.75% to a lower rate of 0.40%. For more detailed information, please refer to the fund's prospectus.

What is the expense ratio of UPGD?

Invesco Bloomberg Analyst Rating Improvers ETF (UPGD) charges an expense ratio of 0.40%. This is the annual fee deducted from fund assets to cover management and operations.

How big is UPGD?

Invesco Bloomberg Analyst Rating Improvers ETF (UPGD) manages $118.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is UPGD actively managed or an index fund?

UPGD is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (UPGD's is 0.40%) because there's no security selection cost.

When was UPGD launched?

Invesco Bloomberg Analyst Rating Improvers ETF (UPGD) launched in May 2006 and is managed by Invesco.

How has UPGD performed?

UPGD's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.