Invesco Variable Rate Investment Grade ETF

Frequently Asked Questions About VRIG

What does VRIG invest in?

The Invesco Variable Rate Investment Grade ETF (VRIG) is an actively managed exchange-traded fund (ETF) primarily designed to generate current income and maintain a low portfolio duration, with capital appreciation serving as a secondary objective. Typically, under normal market conditions, the Fund allocates at least 80% of its net assets, including any borrowed capital, to U.S.-issued, U.S. dollar-denominated, variable rate instruments of investment-grade quality. The sub-adviser, Invesco Advisers, Inc., targets a diverse range of holdings, including floating rate U.S. Treasuries, government-sponsored agency mortgage-backed securities, U.S. Agency debt, structured securities, and floating rate investment-grade corporate instruments. Additionally, the Fund retains the flexibility to invest in other security types detailed in its prospectus, allowing for up to a 20% allocation to non-investment grade securities. As of August 31, 2025, Morningstar Inc. awarded the Fund an overall 5-star rating among 211 eligible funds. It also received 5 stars for the 3-year period (out of 211 funds) and the 5-year period (out of 183 funds), with no 10-year rating available. Morningstar ratings are determined by a risk-adjusted return methodology that weighs monthly performance variations, emphasizing downside risk and valuing consistent results. For comparison purposes, open-end mutual funds and ETFs are grouped together. A minimum three-year performance history is required for a rating. The overall rating represents a weighted average of the available 3-, 5-, and 10-year metrics, inclusive of fees and expenses but exclusive of sales charges. This information is proprietary to Morningstar Inc. and/or its content providers, ©2025, with all rights reserved. It should not be copied or distributed, and its accuracy, completeness, or timeliness is not guaranteed. Neither Morningstar nor its content providers bear responsibility for any damages or losses resulting from its use. Investors should note that past performance offers no assurance of future outcomes. Morningstar's star distribution awards five stars to the top 10% of funds in a category, four stars to the next 22.5%, three stars to the subsequent 35%, two stars to the following 22.5%, and one star to the lowest 10%. These ratings are subject to monthly adjustments. Furthermore, if fees had not been waived or expenses reimbursed, either currently or historically, the Morningstar rating would have been lower. Ratings for alternative share classes may also differ based on varying performance characteristics.

What is the expense ratio of VRIG?

Invesco Variable Rate Investment Grade ETF (VRIG) charges an expense ratio of 0.30%. This is the annual fee deducted from fund assets to cover management and operations.

What is VRIG's dividend yield?

VRIG's trailing-twelve-month yield is 4.66%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of VRIG?

Effective duration measures VRIG's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. VRIG's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of VRIG?

VRIG's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of VRIG?

Yield to maturity (YTM) is the total return you'd earn from VRIG if every bond in the portfolio is held to maturity at the current price. VRIG's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.