Investment objective & strategy
As of Dec. 18, 2025 · prospectusObjective. The Invesco KBW Property & Casualty Insurance ETF (the Fund) seeks to track the investment results (before fees and expenses) of the KBW Nasdaq Property & Casualty TM 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, Keefe, Bruyette & Woods, Inc. and Nasdaq, Inc. (KBW Nasdaq or the Index Provider) compile, maintain and calculate the Underlying Index, which is a modified-market capitalization-weighted index designed to track the performance of companies primarily engaged in U.S. property and casualty insurance activities, as determined by the Index Provider. As of October 31, 2025, the Underlying Index was comprised of 24 securities with market capitalizations ranging from $234.2 million to $120.8 billion. The Fund employs a full replication methodology in seeking to track the Underlying Index, meaning that the Fund generally … 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, Keefe, Bruyette & Woods, Inc. and Nasdaq, Inc. (KBW Nasdaq or the Index Provider) compile, maintain and calculate the Underlying Index, which is a modified-market capitalization-weighted index designed to track the performance of companies primarily engaged in U.S. property and casualty insurance activities, as determined by the Index Provider. As of October 31, 2025, the Underlying Index was comprised of 24 securities with market capitalizations ranging from $234.2 million to $120.8 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 25% or more of the value of its total 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 August 31, 2025, the Fund had significant exposure to the insurance industry. The Funds 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 |
|---|---|---|---|
| CHUBB LTD | — | $25.45M | 9.18% |
| TRAVELERS COS IN | — | $23.31M | 8.41% |
| MARSH & MCLENNAN | — | $22.51M | 8.12% |
| AON PLC-CLASS A | — | $20.96M | 7.56% |
| PROGRESSIVE CORP OHIO | — | $20.65M | 7.45% |
| ARCH CAPITAL GRP | — | $11.79M | 4.25% |
| AMERICAN INTERNATIONAL GROUP | — | $11.68M | 4.22% |
| HARTFORD INSURANCE GROUP INC/THE | — | $11.36M | 4.10% |
| ALLSTATE CORPORATION | — | $11.14M | 4.02% |
| EVEREST RE GROUP | — | $10.91M | 3.94% |
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. |
|---|---|---|
| iShares U.S. Insurance ETF · IAK | 50% | 0.38% |
| Select Insurance Portfolio · FSPCX | 35% | 0.69% |
| State Street(R) SPDR(R) S&P(R) Insurance ETF · KIE | 28% | 0.35% |
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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