Investment objective & strategy
As of Feb. 26, 2026 · prospectusObjective. The Invesco S&P Global Water Index ETF (the Fund) seeks to track the investment results (before fees and expenses) of the S&P Global Water Index (the Underlying Index).
Strategy. The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index, as well as American depositary receipts (ADRs) and global depositary receipts (GDRs) that represent securities in the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (S&P DJI or the Index Provider) compiles, maintains, and calculates the Underlying Index, which is designed to measure the performance of the largest global companies in water-related businesses, with a target constituent count of 100. To be eligible for inclusion in the Underlying Index, companies must either derive at least 25% in aggregate revenue from water-related businesses as defined by FactSet's Revere Business Industry Classification System (RBICS) or … The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index, as well as American depositary receipts (ADRs) and global depositary receipts (GDRs) that represent securities in the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (S&P DJI or the Index Provider) compiles, maintains, and calculates the Underlying Index, which is designed to measure the performance of the largest global companies in water-related businesses, with a target constituent count of 100. To be eligible for inclusion in the Underlying Index, companies must either derive at least 25% in aggregate revenue from water-related businesses as defined by FactSet's Revere Business Industry Classification System (RBICS) or belong to the water utilities sub-industry classification under the Global Industry Classification Standard (GICS ). Underlying Index constituents must have a minimum float-adjusted capitalization of $100 million and total market capitalization of at least $300 million. Companies may be located in developed or emerging markets. The Underlying Index excludes from the eligible universe securities of companies based on their specific business activities and noncompliance with United Nations Global Compact (UNGC) Principles, using information provided by S&P Global and by Sustainalytics, a globally recognized independent provider of environmental, social and governance (ESG) research, ratings, and data. Companies without Sustainalytics coverage are ineligible for inclusion until receiving such coverage. The UNGC is an arrangement by which companies voluntarily and publicly commit to a set of principles drawn from key UN Conventions and Declarations. The principles of the UNGC represent a set of values that the UN believes responsible businesses should incorporate into their operations in order to meet fundamental responsibilities in the areas of human rights, labor, the environment, and anti-corruption. As of December 31, 2025, the Underlying Index was comprised of 62 securities with market capitalizations ranging from $334.9 million to $74.4 billion. The Fund employs a full replication methodology in seeking to track the Underlying Index, meaning that the Fund generally invests in all of the securities comprising the Underlying Index in proportion to their weightings in the Underlying Index. The Fund is non-diversified and therefore is not required to meet certain diversification requirements under the Investment Company Act of 1940, as amended (the 1940 Act). Concentration Policy. The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries. As of October 31, 2025, the Fund had significant exposure to the water-related industry, and the utilities and industrials sectors. The Funds portfolio holdings, and the extent to which it concentrates, its investments are likely to change over time.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| SABESP ON /CIA SANEAMENTO BASICO ESTADO DE SAO PAULO ORDINARY REGISTERED /BRL/ 0.00000000 | SBSP3 | $88.47M | 8.53% |
| AMERICAN WATER WRKS COMPANY | — | $81.22M | 7.83% |
| XYLEM INC | — | $79.16M | 7.63% |
| VERALTO CORP | — | $59.24M | 5.71% |
| ESSENTIAL UTILITIES INC | — | $57.26M | 5.52% |
| UNITED UTILITIES | — | $46.67M | 4.50% |
| ECOLAB INC | — | $42.00M | 4.05% |
| ADVANCED DRAINAGE SYSTEMS INC | — | $39.53M | 3.81% |
| SEVERN TRENT | — | $39.01M | 3.76% |
| GEBERIT INTERNATINAL AG | GEBN | $38.45M | 3.71% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Virtus Duff & Phelps Water Fund · AWTAX, AWTCX, AWTIX | 57% | 0.93% |
| Tortoise Global Water Fund · TBLU | 47% | 0.40% |
| Fidelity Water Sustainability Fund · FLOWX | 46% | 0.92% |
Advisers
| Firm | Role |
|---|---|
| Invesco Capital Management LLC | Adviser |
Footnotes
- Expense ratio as of February 26, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.