Ticker: GSY

Invesco Ultra Short Duration ETF

Invests in bonds with an average duration of less than one year.

Product details

Why invest in GSY?

The Invesco Ultra Short Duration ETF is designed for investors looking to earn additional return potential beyond money market funds but with potentially lower volatility than short-term bond strategies.

★★★★
4-star overall Morningstar rating - Ultrashort Bond Category

As of 12/31/2023 the Fund had an overall rating, based on risk-adjusted returns, of 4 stars out of 205 funds and was rated 3 stars out of 205 funds, 4 stars out of 184 funds and 4 stars out of 104 funds for the 3-, 5- and 10-year periods, respectively.

Potential option for excess cash

We provide a strategy that may fill the void between cash and short-term bonds for investors looking to put excess cash to work.

High quality

We invest primarily in investment grade debt securities.

Seeks competitive performance

We seek to outperform the Morningstar Ultrashort Bond Category through a high quality and multi-sector approach.

FAQ

Get timely answers to important questions regarding this product.

Ultra-short duration funds and money market funds are both seen as relatively conservative investments for short-term liquidity need. However, ultrashort funds have a slightly longer duration profile than money market funds. Money market funds can be utilized for a client’s day to day cash needs, while ultrashort duration funds can be considered the first step out of the yield curve for excess cash balances.

GSY holds a diversified portfolio of fixed income instruments of varying maturities, but that have an average duration of less than one year. GSY invests in commercial paper, repurchase agreements, investment-grade debt securities, bank obligations, mortgages-backed securities, and other short-duration fixed income securities.

GSY is an actively managed ETF that seeks to outperform the ICE BofA US Treasury Bill Index in addition to providing returns in excess of those available in U.S. Treasury bills, government repurchase agreements, and money market funds, while seeking to provide preservation of capital and daily liquidity.

GSY is designed for investors looking to earn additional return potential beyond money market funds, but with lower volatility than short-term bond strategies.

Bond prices and interest rates move in opposite directions. The very short duration of ultra-short duration funds can act differently in relation to rising rates versus funds that invest in bonds with longer durations.

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Footnotes

  • The Invesco Ultra Short Duration ETF (the “Fund”) seeks maximum current income, consistent with preservation of capital and daily liquidity.

  • Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2023 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.