Symbols

XSHD

Invesco S&P SmallCap High Dividend Low Volatility ETF·CBOE

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Key Stats

Assets Under Management

74.84MUSD

Fund Flows (1Y)

12.16MUSD

Dividend Yield

5.79%

Discount/Premium to NAV

0.15%

Shares Outstanding

5.48M

Expense Ratio

0.30%

About Invesco S&P SmallCap High Dividend Low Volatility ETF

Issuer

Invesco Capital Management LLC

Brand

Invesco

Home Page

https://www.invesco.com/portal/site/us/investors/etfs/product-detail?productId=XSHD&ticker=XSHD&title=powershares-s-p-smallcap-high-dividend-low-volatility-portfolio

Inception Date

Dec 1, 2016

Structure

Open-Ended Fund

Index Tracked

S&P SmallCap 600 Low Volatility High Dividend Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Qualified dividends

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Invesco Capital Management LLC

Distributor

Invesco Distributors, Inc.

XSHD doesn't make much effort to resemble the broader market. The fund delivers its mandate by screening the US small-cap universe for high dividend yields, and then screening the results for low volatility. The order is important because it may translate into a greater emphasis on yield than volatility. Furthermore, holdings are weighted by dividend yield. While there are limits to prevent too much exposure to any one sector or firm, those limits are loose enough that XSHD's portfolio of 90 names can diverge significantly from market-neutral, look for an overweight to defensive sectors, for example. XSHD charges a reasonable fee for a dividend play, though plain-vanilla competitors are available for a fraction of the price. Note that the same methodology is used by SPHD (which holds US large-caps) and IDHD (developed international equity).