Invesco Rochester High Yield Municipal ETF
IROC
Chicago Board Options Exchange50.79
USD
+0.03
(-0.02%)
Invesco Rochester High Yield Municipal ETF
IROC
(Chicago Board Options Exchange)
Recent
price
50.79
P/E
ratio
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div
yld
- -
ROIC.AI
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- Business
- Invesco Rochester High Yield Municipal ETF (IROC) is an actively managed exchange-traded fund that seeks current income exempt from federal income tax by investing primarily in higher yielding municipal securities, including medium- and lower-grade municipal bonds rated BBB or lower by S&P or Baa or lower by Moody’s, or equivalent ratings, as well as derivatives and other instruments with similar economic characteristics; it normally maintains a weighted average portfolio duration of less than 7.5 years and benchmarks performance against the S&P Municipal Bond 50% Investment Grade/50% High Yield Index and the S&P Municipal Bond High Yield Index. The ETF, issued by Invesco Actively Managed Exchange-Traded Fund Trust and managed by Invesco Capital Management LLC with co-management by Invesco Advisers, Inc., focuses on U.S. fixed income markets, particularly non-investment grade and unrated municipal tax-exempt securities in the high yield muni category; it distributes monthly dividends with a trailing twelve-month yield around 4.2-4.4% and has a net expense ratio of 0.39%. Launched on December 9, 2022, and domiciled in the United States with assets under management of approximately $30 million, the fund operates in the U.S. market targeting investors seeking tax-efficient high yield income. In a significant recent development effective February 24, 2025, the fund shifted its investment strategy to allocate at least 75% of total assets to low-to-medium quality municipal securities, adopted its current name "Invesco Rochester High Yield Municipal ETF," and changed its ticker symbol to IROC from its prior designation.
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