Invesco Investment Grade Defensive ETF
IIGD
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- Invesco Investment Grade Defensive ETF (IIGD) is an exchange-traded fund that seeks to track the investment results, before fees and expenses, of the Invesco Investment Grade Defensive Index. The fund invests at least 80% of its total assets in securities comprising the underlying index, which provides exposure to U.S. investment grade corporate bonds selected based on the highest "quality scores" within the eligible universe; these bonds emphasize mid credit quality with limited interest-rate sensitivity, featuring an average effective duration of 3.40 years, average effective maturity of 3.77 years, and holdings across maturity bands including 37.71% in 1-3 years, 48.70% in 3-5 years, and 10.77% in 5-7 years. Primarily focused on corporate bonds (99.87% allocation), the ETF holds approximately 158-159 securities with an average weighted coupon of 3.70% and net expense ratio of 0.13%; it distributes dividends monthly, yielding around 4.24% trailing twelve months. Launched on July 25, 2018, and domiciled in the United States, IIGD operates under Invesco Ltd., a global asset manager headquartered in Atlanta, Georgia, with the ETF listing on the NYSE Arca and managing total net assets of approximately $27 million. The fund targets investors seeking defensive fixed income exposure in the short-term bond segment, prioritizing low volatility (recent weekly volatility at 0.19%) and risk-adjusted performance amid U.S. investment grade markets. No major strategic changes, such as partnerships, acquisitions, funding rounds, new product launches, or reorganizations specific to IIGD, have been reported in the last 1-2 years; however, Invesco Ltd. has pursued broader fixed income expansions, including the July 2025 launch of active ETFs like the Invesco Core Fixed Income ETF (GTOC) and Invesco Intermediate Municipal ETF (INTM), alongside mergers of unrelated investment trusts like Invesco Global Equity Income Trust. Geographic operations center on U.S. bonds (99.24% allocation), with minimal non-U.S. bond exposure (0.64%) and cash equivalents (0.13%). The ETF is managed by a team including Peter Hubbard, Jeremy Neisewander, Greg Meisenger, Tom Boksa, and Elizabeth Sanford.