Investment objective & strategy
As of Dec. 18, 2025 · prospectusObjective. The Invesco Nasdaq Biotechnology ETF (the Fund) seeks to track the investment results (before fees and expenses) of the Nasdaq Biotechnology Index (the Underlying Index).
Strategy. The Fund generally will invest at least 90% of its total assets in the securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, Nasdaq, Inc. (Nasdaq or the Index Provider) compiles the Underlying Index, which is a modified market-capitalization weighted index that is designed to measure the performance of securities of companies listed on the Nasdaq Stock Market that are classified under the biotechnology subsector or pharmaceuticals subsector of the Industry Classification Benchmark (ICB). The Underlying Index may include securities of large-, mid- and small-capitalization companies. Securities in the Underlying Index are weighted by market capitalization. Security types generally eligible for inclusion in the Underlying Index include common stocks and American Depositary Receipts (ADRs) … The Fund generally will invest at least 90% of its total assets in the securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, Nasdaq, Inc. (Nasdaq or the Index Provider) compiles the Underlying Index, which is a modified market-capitalization weighted index that is designed to measure the performance of securities of companies listed on the Nasdaq Stock Market that are classified under the biotechnology subsector or pharmaceuticals subsector of the Industry Classification Benchmark (ICB). The Underlying Index may include securities of large-, mid- and small-capitalization companies. Securities in the Underlying Index are weighted by market capitalization. Security types generally eligible for inclusion in the Underlying Index include common stocks and American Depositary Receipts (ADRs) that represent securities of non-U.S. issuers. As of October 31, 2025, the Underlying Index was comprised of 247 constituents with market capitalizations ranging from approximately $34.3 million to $255.6 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 the biotechnology or pharmaceutical industries that are contained in the Underlying Index. As of August 31, 2025, the Fund had significant exposure to the biotechnology industry. The Fund's portfolio holdings, and the extent to which it concentrates its investments, are likely to change over time.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Invesco Private Prime Fund | — | $10.83M | 14.29% |
| GILEAD SCIENCES INC | — | $7.28M | 9.61% |
| VERTEX PHARMACEUTICALS INC | — | $7.04M | 9.30% |
| AMGEN INC | — | $6.91M | 9.12% |
| REGENERON PHARMACEUTICALS INC | — | $4.56M | 6.03% |
| Invesco Private Government Fund | — | $4.20M | 5.55% |
| ALNYLAM PHARMACEUTICALS INC | — | $2.49M | 3.28% |
| INSMED INC | — | $1.80M | 2.38% |
| BIOGEN INC | — | $1.59M | 2.10% |
| ARGENX SE SPONSORED ADR | — | $1.26M | 1.67% |
Portfolio moves
Nov 30, 2025 → Feb 28, 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. |
|---|---|---|
| ProShares Ultra Nasdaq Biotechnology · BIB | 68% | 0.95% |
| iShares Biotechnology ETF · IBB | 68% | 0.44% |
| Biotechnology Fund · RYOIX, RYOAX, RYBOX, RYCFX | 52% | 1.40% |
Advisers
| Firm | Role |
|---|---|
| Invesco Capital Management LLC | Adviser |
Footnotes
- Expense ratio as of December 18, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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