Title: PRIIPS_IE000DZN13O8_en_20250428_6_1_GBP_Hdg_Dist_619858

URL Source: https://www.invesco.com/content/dam/invesco/emea/en/product-documents/etf/share-class/kid/IE000DZN13O8_kid_en.pdf

Published Time: Wed, 21 May 2025 13:38:56 GMT

Markdown Content:
Page 1 of 3 | Key Information Document | 28 April 2025 

# Key Information Document Key Information Document Key Information Document Key Information Document 

Purpose: Purpose: Purpose: Purpose: This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. 

Invesco USD AAA CLO UCITS ETF (the "Fund Fund Fund Fund"), a sub-fund of Invesco Markets II plc (the "Company Company Company Company"), GBP Hdg Dist (ISIN: IE000DZN13O8) (the "Share Class Share Class Share Class Share Class") 

PRIIP Manufacturer: Invesco Investment Management Limited, part of the Invesco Group. The Central Bank of Ireland is responsible for supervising Invesco Investment Management Limited in relation to this Key Information Document. This Fund is authorised in Ireland. Invesco Investment Management Limited is authorised in Ireland and regulated by the Central Bank of Ireland. Invesco Investment Management Limited as manager of the Company will exercise its rights pursuant to Article 16 of Directive 2009/65/EC. Contact Details: Contact Details: Contact Details: Contact Details: +353 1 439 8000, https://etf.invesco.com 

This document was produced on 28 April 2025. This document was produced on 28 April 2025. This document was produced on 28 April 2025. This document was produced on 28 April 2025. WARNING: You are about to purchase a product that is not simple and may be difficult to understand. 

What is this product? What is this product? What is this product? What is this product? 

Type: Type: Type: Type: The Fund is an Exchange-Traded Fund ("ETF ETF ETF ETF") and is a sub-fund of the Company, a company incorporated in Ireland with limited liability as an umbrella type open-ended UCITS investment company with variable capital and segregated liability between its sub-funds under the laws of Ireland with registered number 567964 and authorised by the Central Bank of Ireland. Term: Term: Term: Term: The Fund has no maturity date. The Fund may be terminated unilaterally by the directors of the Company and there are circumstances in which the Fund can be terminated automatically, as further described in the prospectus. Objectives: Objectives: Objectives: Objectives: Investment objective: Investment objective: Investment objective: Investment objective: The investment objective of the Fund is to seek to provide consistent income and capital preservation over the long term. Investment approach: Investment approach: Investment approach: Investment approach: To achieve the investment objective, the Fund will primarily invest in AAA-rated (or equivalently rated by a nationally recognised statistical rating organisation) tranches of US Dollar denominated floating rate debt securities issued by collateralised loan obligations ("CLOs CLOs CLOs CLOs”). A CLO is a structure that issues fixed- or floating-rate debt securities that are collateralised by a pool of loans and bonds, which primarily includes senior secured loans, broadly syndicated loans, floating rate notes, high yield bonds and subordinated corporate loans. Each CLO consists of rated debt tranches that pay interest, as well as a portion of equity. The CLO makes payments to the various tranches based on seniority. Each tranche has a different risk/return profile based on its priority claim on the cash flows. The more senior and higher rated the tranche, the higher its priority claim on cash flows. At least 80% of the CLO Debt Securities in which the Fund will invest will be AAA-rated (as rated by at least one rating agency) CLO Debt Securities. Up to 20% of the CLO Debt Securities in which the Fund will invest may be below AAA-rated subject to such CLO Debt Securities being rated investment grade and predominantly comprising AA-rated CLO Debt Securities. If a security is downgraded, the Investment Manager will take such action as required as soon as reasonably practicable, taking due account of the interests of its Shareholders. The Fund may also invest in “middle-market CLOs”, which are CLO Debt Securities whose underlying loan collateral are substantially comprised of middle-market loans (i.e. loans with offering sizes generally below USD$250million). The Fund may invest up to 20% of its net assets in CLO Debt Securities that are denominated in currencies other than US dollar. The Fund may also invest a portion of its assets in cash or other short-term instruments for the purposes of liquidity management and managing redemptions. The Fund’s base currency is USD. The Fund may use derivative instruments for the purposes of managing risk, reducing costs, generating additional capital or income. The use of such instruments may impact the magnitude and frequency of the fluctuations in the value of the Fund. Currency hedging between the base currency of the Fund and the currency of the share class may not completely eliminate the currency risk between those two currencies and may affect the performance of the share class. The Fund is an actively managed Exchange-Traded Fund and is not constrained by a benchmark. The Fund may use the J.P. Morgan CLOIE AAA Index (the “Benchmark Benchmark Benchmark Benchmark”) for performance comparison purposes. The Benchmark measures the performance of US dollar-denominated, AAA rated CLO debt. The Fund will not seek to track the performance of the Benchmark. Investors should note that the Benchmark is the intellectual property of the index provider. The Fund is not sponsored or endorsed by the index provider and a full disclaimer can be found in the Fund’s supplement. Dividend Policy: Dividend Policy: Dividend Policy: Dividend Policy: This Share Class declares and distributes a dividend on a quarterly basis. Redemption and Dealing of Shares: Redemption and Dealing of Shares: Redemption and Dealing of Shares: Redemption and Dealing of Shares: The Fund's shares are listed on one or more Stock Exchange(s). Investors can buy or sell shares daily through an intermediary directly or on Stock Exchange(s) on which the shares are traded. In exceptional circumstances investors will be permitted to redeem their shares directly from Invesco Markets II plc in accordance with the redemption procedures set out in the prospectus, subject to any applicable laws and relevant charges. Intended Retail Investor: Intended Retail Investor: Intended Retail Investor: Intended Retail Investor: The Fund is intended for professional or institutional investors aiming for income and medium term capital growth who have a risk appetite and an investment horizon consistent with the risk indicator displayed below and understand that there is no capital guarantee or protection (100% of capital is at risk). The Company does not permit the offering of Shares of this Fund on the secondary market to retail investors. Pr Pr Pr Practical information actical information actical information actical information Fund Depositary: Fund Depositary: Fund Depositary: Fund Depositary: The Bank of New York Mellon SA/NV, Dublin Branch, Riverside Two, Sir John Rogerson’s Quay, Grand Canal Dock, Dublin 2, D02 KV60, Ireland. Find out more: Find out more: Find out more: Find out more: Further information about the Fund can be obtained from the prospectus, latest annual report and any subsequent interim reports. This document is specific to the Fund. However, the prospectus, annual report and the interim reports are prepared for the Company of which the Fund is a sub-fund. These documents are available free of charge. They can be obtained along with other practical information, such as share prices, at etf.invesco.com (select your 

country and navigate to the Documents section on the product page) or by calling +353 1 439 8000. These documents are available in English, and in some instances, the language of the relevant country in which the Fund is being marketed. The assets of the Fund are segregated as a matter of Irish law and as such, in Ireland, the assets of one sub-fund will not be available to satisfy the liabilities of another sub-fund. This position may be considered differently by the courts in jurisdictions outside of Ireland. Subject to satisfying certain criteria as set out in the prospectus, investors may be able to exchange their investment in the Fund for shares in another sub-fund of the Company which is being offered at that time. 

What are the risks and what could I get in return? What are the risks and what could I get in return? What are the risks and what could I get in return? What are the risks and what could I get in return? 

Risk Indicator Risk Indicator Risk Indicator Risk Indicator 

The risk indicator assumes you keep the product for 3 years. The actual risk can vary significantly if you cash in at an early stage and you may get back less. The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you. We have classified this product as 2 out of 7, which is a low risk class. This rates the potential losses from future performance at a low level and poor market conditions are very unlikely to impact the value of your investment. Be aware of currency risk. In some circumstances, you may receive payments Be aware of currency risk. In some circumstances, you may receive payments Be aware of currency risk. In some circumstances, you may receive payments Be aware of currency risk. In some circumstances, you may receive payments in a different currency from your local currency, so the fina in a different currency from your local currency, so the fina in a different currency from your local currency, so the fina in a different currency from your local currency, so the final return you will get l return you will get l return you will get l return you will get may depend on the exchange rate between the two currencies. This risk is not may depend on the exchange rate between the two currencies. This risk is not may depend on the exchange rate between the two currencies. This risk is not may depend on the exchange rate between the two currencies. This risk is not considered in the indicator shown here. considered in the indicator shown here. considered in the indicator shown here. considered in the indicator shown here. This product does not include any protection from future market performance so you could lose some or all of your investment. For other risks materially relevant to this product which are not taken into account in the summary risk indicator, please refer to the prospectus and/or the Fund’s supplement. 

Lower Lower Lower Lower risk risk risk risk Higher risk Higher risk Higher risk Higher risk 

1 2222 3 4 5 6 7

# !Invesco USD AAA CLO UCITS ETF, a sub-fund of Invesco Markets II plc - GBP Hdg Dist (IE000DZN13O8)  

> Page 2 of 3 | Key Information Document | 28 April 2025

## Performance scenarios Performance scenarios Performance scenarios Performance scenarios 

The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back. What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the Fund/a suitable benchmark over the last 10 years. Markets could develop very differently in the future. The stress scenario shows what you might get back in extreme market circumstances. 

Recommended Holding Period: 3 years Recommended Holding Period: 3 years Recommended Holding Period: 3 years Recommended Holding Period: 3 years Investment: GBP 10,000 Investment: GBP 10,000 Investment: GBP 10,000 Investment: GBP 10,000 

Scenarios Scenarios Scenarios Scenarios If you exit after 1 year If you exit after 1 year If you exit after 1 year If you exit after 1 year If you exit after 3 years If you exit after 3 years If you exit after 3 years If you exit after 3 years (recommended holding period) (recommended holding period) (recommended holding period) (recommended holding period) Minimum: There is no minimum guaranteed return. You could lose some or all of your Minimum: There is no minimum guaranteed return. You could lose some or all of your Minimum: There is no minimum guaranteed return. You could lose some or all of your Minimum: There is no minimum guaranteed return. You could lose some or all of your investment. investment. investment. investment. 

Stress Stress Stress Stress What you might get back after costs What you might get back after costs What you might get back after costs What you might get back after costs Average return each year 6,760 GBP 6,760 GBP 6,760 GBP 6,760 GBP -32.43% 9,430 GBP 9,430 GBP 9,430 GBP 9,430 GBP -1.95% 

Unfavourable Unfavourable Unfavourable Unfavourable¹ ¹¹ ¹ What you might get back after costs What you might get back after costs What you might get back after costs What you might get back after costs Average return each year 9,840 GBP 9,840 GBP 9,840 GBP 9,840 GBP -1.60% 10,330 GBP 10,330 GBP 10,330 GBP 10,330 GBP 1.08% 

Moderate Moderate Moderate Moderate² ²²² What you might get back after costs What you might get back after costs What you might get back after costs What you might get back after costs Average return each year 10,270 GBP 10,270 GBP 10,270 GBP 10,270 GBP 2.74% 10,890 GBP 10,890 GBP 10,890 GBP 10,890 GBP 2.88% 

Favourable Favourable Favourable Favourable³ ³³³ What you might get back after costs What you might get back after costs What you might get back after costs What you might get back after costs Average return each year 10,910 GBP 10,910 GBP 10,910 GBP 10,910 GBP 9.08% 11,900 GBP 11,900 GBP 11,900 GBP 11,900 GBP 5.96% 

¹ This type of scenario occurred for an investment between September 2019 and September 2022. ² This type of scenario occurred for an investment between April 2018 and April 2021. ³ This type of scenario occurred for an investment between February 2022 and February 2025. 

## What happens if Invesco Investment Management Limited is unable to pay out? What happens if Invesco Investment Management Limited is unable to pay out? What happens if Invesco Investment Management Limited is unable to pay out? What happens if Invesco Investment Management Limited is unable to pay out? 

The assets of the Fund are segregated from those of Invesco Investment Management Limited. In addition, the Bank of New York Mellon SA/NV, Dublin Branch (the “Depositary Depositary Depositary Depositary”), as the depositary of the Company, is responsible for the safekeeping of the assets of the Fund. To that effect, if Invesco Investment Management Limited defaults, there will be no direct financial impact on the Fund. In addition, the assets of the Fund shall be segregated from the Depositary’s assets, which may limit the risk for the Fund suffering some loss in case of default by the Depositary. As a shareholder in the Fund, there is no compensation or guarantee scheme in place. 

## What are the costs? What are the costs? What are the costs? What are the costs? 

The person advising on or selling you this product may charge you other costs. If so, this person will provide you with information about these costs and how they affect your investment. 

Costs over time Costs over time Costs over time Costs over time 

The tables show the amounts that are taken from your investment to cover different types of costs. These amounts depend on how much you invest, how long you hold the product and how well the product does. The amounts shown here are illustrations based on an example investment amount and different possible investment periods. We have assumed, in the first year you would get back the amount that you invested (0 % annual return). For the other holding period, we have assumed the fund performs as shown in the moderate scenario and the investment is GBP 10,000. 

Investment: GBP 10,000 Investment: GBP 10,000 Investment: GBP 10,000 Investment: GBP 10,000 If you exit after 1 year If you exit after 1 year If you exit after 1 year If you exit after 1 year If you exit after 3 years If you exit after 3 years If you exit after 3 years If you exit after 3 years 

Total costs Total costs Total costs Total costs 41 GBP 132 GBP 

Annual cost impact (*) Annual cost impact (*) Annual cost impact (*) Annual cost impact (*) 0.4% 0.4% 

(*) This illustrates how costs reduce your return each year over the holding period. For example it shows that if you exit at the recommended holding period your average return per year is projected to be 3.3% before costs and 2.9% after costs. Invesco USD AAA CLO UCITS ETF, a sub-fund of Invesco Markets II plc - GBP Hdg Dist (IE000DZN13O8)  

> Page 3 of 3 | Key Information Document | 28 April 2025

## Composition of costs Composition of costs Composition of costs Composition of costs 

One One One One----off off off off costs upon entry or exit costs upon entry or exit costs upon entry or exit costs upon entry or exit If you exit after 1 year If you exit after 1 year If you exit after 1 year If you exit after 1 year     

> Entry costs Entry costs Entry costs Entry costs We do not charge an entry fee for this product, but the person selling you the product may do so. 0 GBP
> Exit costs Exit costs Exit costs Exit costs We do not charge an exit fee for this product, but the person selling you the product may do so. 0 GBP

Ongoing costs taken each year Ongoing costs taken each year Ongoing costs taken each year Ongoing costs taken each year If you exit after 1 year If you exit after 1 year If you exit after 1 year If you exit after 1 year  

> Management fees and other Management fees and other Management fees and other Management fees and other administrative or operating administrative or operating administrative or operating administrative or operating costs costs costs costs 0.35% of the value of your investment per year. This is an estimate based on actual costs over the last year. 35 GBP
> Transaction costs Transaction costs Transaction costs Transaction costs 0.06% of the value of your investment per year. This is an estimate of the costs incurred when we buy and sell the underlying investments for the product. The actual amount will vary depending on how much we buy and sell. 6 GBP

Incidental costs taken under specific conditions Incidental costs taken under specific conditions Incidental costs taken under specific conditions Incidental costs taken under specific conditions If you exit after 1 year If you exit after 1 year If you exit after 1 year If you exit after 1 year   

> Performance fees Performance fees Performance fees Performance fees There is no performance fee for this product. 0 GBP

## How long should I hold it and can I take money out early? How long should I hold it and can I take money out early? How long should I hold it and can I take money out early? How long should I hold it and can I take money out early? 

Recommended holding period: 3 years Recommended holding period: 3 years Recommended holding period: 3 years Recommended holding period: 3 years This Share Class has no required minimum holding period however we have selected 3 years as the recommended holding period as the Share Class invests for the medium term therefore you should be prepared to stay invested for at least 3 years. You can sell your shares in the Share Class during this period or hold the investment longer. For details of how to redeem your shares please refer to the “Redemption and Dealing of Shares” section under “What is this product?” and consult the “What are the costs?” section for details of any applicable fees. If you sell some or all of your investment before 3 years your investment will be less likely to achieve its objectives, however, you will not incur any additional costs by doing so. 

## How can I complain? How can I complain? How can I complain? How can I complain? 

If you have any complaints about the Fund or the conduct of Invesco Investment Management Limited or the person advising on, or selling the Fund, you may lodge your complaint as follows: (1) You may log your complaint via email to investorcomplaints@invesco.com ; and/or 

(2) You may send your complaint in writing to the ETF Legal Department, Invesco, Ground Floor, 2 Cumberland Place, Fenian Street, Dublin 2, Ireland, D02 H0V5. In the event that you are not satisfied with our response to your complaint you can refer the matter to the Irish Financial Services and Pensions Ombudsman by filling out an online complaint form on their website: https://www.fspo.ie/ . For more information, 

please refer to the Shareholder Complaint Handling Procedure at https://www.invescomanagementcompany.ie/dub-manco .

## Other relevant information Other relevant information Other relevant information Other relevant information 

Additional Information: Additional Information: Additional Information: Additional Information: We are required to provide you with further information, such as the prospectus, the latest annual report and any subsequent interim reports. These documents and other practical information are available free of charge at 

etf.invesco.com (select your country and navigate to the Documents section on the product page). 

Past Performance: Past Performance: Past Performance: Past Performance: As this Share Class does not have performance data for a complete calendar year, there is insufficient data to provide a meaningful indication of past performance. Previous Performance Scenarios: Previous Performance Scenarios: Previous Performance Scenarios: Previous Performance Scenarios: You can view the previous performance scenarios of the Share Class on our website at 

https://www.invesco.com/emea/en/priips.html .