Invesco International Corporate Bond ETF
PICB
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- Invesco International Corporate Bond ETF (PICB) is an exchange-traded fund that provides exposure to investment-grade corporate bonds issued by companies in Group of Ten (G10) countries, excluding the United States. The fund tracks the S&P International Corporate Bond Index, a market-value-weighted benchmark comprising bonds denominated in currencies such as the Australian dollar, British pound, Canadian dollar, euro, Japanese yen, Swiss franc, New Zealand dollar, Norwegian krone, and Swedish krona; the index is rebalanced monthly and reconstituted annually in September. PICB normally invests at least 80% of its total assets in securities that comprise the index, including fixed-income instruments across sectors like financials (45.63%), industrials (32.57%), and utilities (9.04%), with top holdings such as Toronto-Dominion Bank 4.21% due 2027, French Republic 6.13% due 2034, and Royal Bank of Canada 4.63% due 2028; credit quality allocations feature A-rated bonds at 46.30%, BBB at 28.15%, AA at 21.48%, and AAA at 4.07%, while maturities are distributed with 51.11% exceeding five years. Launched on June 3, 2010, and issued by Invesco Ltd., headquartered in Atlanta, Georgia, the ETF lists on NYSE Arca with a total expense ratio of 0.50%, effective duration of 5.71 years, and assets under management of approximately $188 million as of recent data. The fund targets institutional and retail investors seeking international fixed-income diversification, currency-hedged exposure outside the U.S. dollar, and monthly income through distributions, with a trailing twelve-month dividend yield of 3.01% and recent payouts including $0.06464 per share on August 22, 2025; geographic allocations emphasize France (25.11%), Canada (19.96%), the United Kingdom (14.11%), and Germany (10.38%). No major acquisitions, partnerships, funding rounds, name changes, or strategic reorganizations specific to PICB have been reported in the last 1-2 years; the fund maintains its core strategy amid ongoing monthly index rebalancing and annual reconstitution, with performance reflecting a one-year total return of 5.86% and inception-to-date annualized return of 2.00% as of mid-2025. Invesco continues routine operations, including declaration of monthly distributions such as $0.0710 per share in recent announcements.