Invesco ETFs Fixed Income ETFs

Discover how fixed income ETFs may offer compelling opportunities for income generation, portfolio diversification and risk mitigation.
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Built for income. Backed by experience.

Whether you’re seeking additional income or want access to diverse sources of return potential across the credit spectrum and capital structure, our fixed income suite offers exposure to both index-based and actively managed ETFs, providing potential expansive solutions to help clients reach their investing goals.

Jason Bloom, Head of Fixed Income ETF Product Strategy

Access the bond markets through Invesco ETFs

Jason Bloom, Head of Fixed Income ETF Product Strategy, describes why ETFs are fast-becoming a go-to tool for fixed income investors who are focused on fees, taxes, transparency, and liquidity and how Invesco can help investors accomplish their investment goals.

Ticker Fund name Effective duration (years) 30-Day SEC yield* Total expense ratio Net  expense ratio Download
GTO Invesco Total Return Bond ETF 6.24 4.70% 0.35% 0.25% Fact sheet
FLXI  Invesco Flexible Income ETF N/A N/A 0.39% 0.39% N/A
GSY Invesco Ultra Short Duration ETF 0.6 4.06% 0.22% 0.22% Fact sheet
VRIG Invesco Variable Rate Investment Grade ETF 0.04 4.75% 0.30% 0.30% Fact sheet
IROC Invesco Rochester High Yield Municipal ETF 5.47 4.00% 0.39% 0.00% Fact sheet
TBLL Invesco Short Term Treasury ETF 0.33 3.61% 0.08% 0.08% Fact sheet
BKLN Invesco Senior Loan ETF 0.10 5.87% 0.67% 0.65% Fact sheet
VRP Invesco Variable Rate Preferred ETF 2.33 5.12% 0.50% 0.50% Fact sheet
PZA Invesco National AMT-Free Municipal Bond ETF 8.61 3.88% 0.28% 0.28% Fact sheet
ICLO Invesco AAA CLO Floating Rate Note ETF 0.10 4.95% 0.19% 0.19% Fact sheet
  • *30-Day SEC yield as of 1/30/2026

    IROC: Effective July 1, 2025, the Adviser has agreed to waive 100% of its management fee for the Fund through June 30, 2026.

    GTO:Effective after close of business February 20, 2025, the Adviser has agreed to waive a portion of its unitary management fee for the Fund through August 31, 2025. After giving effect to such waiver, the net unitary management fee will be 0.25%.

    BKLN:Through August 31, 2025, Invesco Capital Management LLC (the “Adviser”) has contractually agreed to waive a portion of the Fund’s management fee in an amount equal to 100% of the net advisory fees an affiliate of the Adviser receives that are attributable to certain of the Fund’s investments in money market funds managed by that affiliate.

    This waiver will have the effect of reducing the Acquired Fund Fees and Expenses that are indirectly borne by the Fund. The Adviser cannot discontinue this waiver prior to its expiration.

    Performance quoted is past performance and cannot guarantee comparable future results; current performance may be lower or higher. Investment return and principal value will vary so that you may have a gain or a loss when you sell shares. If applicable the shares performance reflects fee waivers, absent which, performance would have been lower.

    For standardized performance, please click here: Standardized Performance

Frequently asked questions

Fixed income ETFs give investors access to bonds and other fixed income securities, such as US Treasuries, corporate debt, municipal bonds, and floating rate notes. Some potential benefits of fixed income ETFs include liquidity, portfolio transparency¹ , and diversification. ²

Since bonds are generally not as volatile as other assets, like stocks³ , they can serve as ballast for an overall portfolio. In particular, ETFs that invest in high quality bonds, like US Treasuries and investment grade rated debt, may help provide portfolio stability. When market uncertainty leads to disruption in the equity markets, fixed income ETFs may provide diversification benefits. Within fixed income ETFs, strategies with lower duration may help preserve capital when interest rates rise.

As their name suggests, many investors use fixed income ETFs to generate income. Some of the bond asset classes that fixed income ETFs hold are traditionally used to seek overall portfolio stability because when market uncertainty leads to disruption in the equity markets, bonds may provide some diversification. Investors can also use specialized fixed income ETFs to help diversify their sources of income as well as help tailor their exposure to credit and duration risk.

Invesco provides a broad range of fixed income ETFs, including both index-based and actively managed strategies:

Index-based ETFs aim to replicate the performance of specific bond indices, offering broad market exposure and cost efficiency.

Actively managed ETFs are guided by experienced portfolio managers who make real-time decisions to optimize yield, manage duration, and navigate changing market conditions.

Examples of Invesco’s actively managed fixed income ETFs include:

Invesco Total Return Bond ETF (GTO) – Investment-grade bonds across sectors

Invesco Rochester High Yield Municipal ETF (IROC) – Municipal bond exposure with a short duration focus

Invesco AAA CLO Floating Rate Note ETF (ICLO) – Floating-rate AAA-rated CLOs

Invesco Variable Rate Investment Grade ETF (VRIG) – Investment-grade floating rate bonds designed for income with low duration risk

Although fixed-rate bonds generally involve greater inflation risk than stocks, there are fixed income ETFs that invest in asset classes that are traditional inflation hedges, such as US Treasury Inflation-Protected Securities (TIPS) . Also, ETFs that invest in debt securities with floating rates may benefit from rising interest rates in an inflationary environment. Finally, investors worried about rising rates and inflation can use ETFs that invest in short-duration bonds to potentially mitigate rate risk.

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  • 1

    Most ETFs disclose their portfolio holdings daily.

  • 2

    Diversification does not guarantee a profit or eliminate the risk of loss

  • 3

    Investing in stock involves risks, including the loss of principal and changes in dividend policies of companies and the capital resources available for dividend payments. Although bonds generally present less short-term risk and volatility than stocks, investing in bonds involves interest rate risk; as interest rates rise, bond prices usually fall, and vice versa. Bonds also entail credit risk and the risk of default, as well as greater inflation risk than stocks. Treasury bills are guaranteed by the full faith and credit of the US government as to the timely payment of principal and interest; however, this guarantee does not eliminate market risk. Corporate bonds may offer a higher yield than government bonds but are often considered riskier because they’re not issued by the government. The values of junk bonds fluctuate more than those of high quality bonds and can decline significantly over short time periods.

  • 4

    Duration is a measure of the sensitivity of the price of a bond or other debt instrument to a change in interest rates.

  • 5

    TIPS - Treasury Inflation-Protected Securities are a type of Treasury security issued by the U.S. Government.