USML.L

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Fund Information

Issuer

Invesco

Category

Financial Services

Inception Date

Jan 28, 2019

Description

The Invesco S&P SmallCap 600 UCITS ETF Acc aims to provide the net total return performance of the S&P SmallCap 600 USD Index (the "Reference Index"), less the impact of fees.The Reference Index provides exposure to small capitalisation US equities, weighted by free float market capitalisation. The index tracks the performance of the 600 smallest stocks in the S&P 1500 index.The fund aims to achieve its objective by holding a basket of equities, which typically delivers most of the fund’s return but ordinarily would not be the same as those in the reference index. The fund will also use unfunded swaps, which are contracts whereby one or more approved counterparties agrees to exchange with the fund any difference between the returns of the index and the basket of equities held. The aim is to achieve a closer and more consistent performance relative to the index than would generally be possible through physical replication alone.While the investment objective of the fund is to replicate the net total return index, the swaps entered into by the fund reference the gross total return index. As a result the performance of the ETF is likely to exceed the return of the net return index.This ETF is passively managed. An investment in this fund is an acquisition of units in a passively managed, index tracking fund rather than in the underlying assets owned by the fund.

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