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Sunday, August 23, 2026The Morning Brief →Sign in

Invesco International Corporate Bond ETF

$23.38+0.17% today
232552-WK

The fund generally will invest at least 80% of its total assets in securities that comprise the underlying index. The underlying index is composed of investment grade corporate bonds denominated in the following currencies of Group of Ten countries, excluding the U.S. Dollar (USD): Australian Dollar (AUD), British Pound (GBP), Canadian Dollar (CAD), Euro (EUR), Japanese Yen (JPY), New Zealand Dollar (NZD), Norwegian Krone (NOK), Swedish Krona (SEK) and Swiss Franc (SFR).

Price & daily flows
24.223.723.223.38DAILY NET FLOWAug 22Dec 19Apr 21Aug 21

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN

The desk’s read

Flows are quiet — the past month netted out near zero, while the price has returned -1.7% so far this year. At 0.50% a year it is not the cheapest way in — IJH runs the same ground at 0.05%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$360Massets under management
0.50%expense ratio · $50 per $10,000 a year
net flow, trailing month
92Kavg daily volume, 30 days
615holdings · US-domiciled
2010listed June 2, 2010 · beta 0.30
The book at a glance
0.6%0.6%0.6%0.6%0.6%0.5%0.5%0.5%0.5%0.5%0.5%0.5%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.4%0.3%0.3%0.3%

CELL SIZE IS PORTFOLIO WEIGHT · COLOR IS TODAY’S MOVE · TOP 40 POSITIONS

HoldingsDownload CSV
#HoldingWeightPriceDay52-wk
1Bank of Montreal0.59%
2Bank of Montreal0.58%
3Enel Finance International NV0.58%
4Royal Bank of Canada0.57%
5Toronto-Dominion Bank/The0.57%
6Bank of Montreal0.48%
7Bank of Nova Scotia/The0.48%
8Royal Bank of Canada0.47%
9Toronto-Dominion Bank/The0.47%
10Toronto-Dominion Bank/The0.47%
11Bank of Montreal0.47%
12Bank of Montreal0.45%
13E.ON International Finance BV0.43%
14Heathrow Funding Ltd0.42%
15National Bank of Canada0.42%

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Sector weights
Cash & Others100%
Other100%
Financial Services100%
Corporate97.25%
Government2.38%
Structured0.16%
Cash0.14%
Mutual fund0.07%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Country weights
United States100%
Other100%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week+0.6%
1 month+2.6%
3 months-0.0%
6 months-3.4%
YTD-1.7%
1 year-1.7%
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week
1 month
3 months
YTD
1 year

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

The risk read
6%realized volatility, 30 days (annualized)
8%realized volatility, 1 year
-7.1%deepest fall from a peak, 1 year
-4.7%where it sits vs. that peak today

The top holding is 0.8% of the book; the top ten carry 6%. Spread across 250+ names, it behaves like roughly 213 equally-weighted positions.

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

The case against PICB

Due diligence cuts both ways. These funds sit on the same shelf and beat PICB on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
STIP iShares 0-5 Year TIPS Bond ETF0.03%$16B+$288M-47bp on fee · 45× the assets · +$288M in over the monthHead-to-head
MBB iShares MBS ETF0.04%$39B+$26M-46bp on fee · 108× the assets · +$26M in over the monthHead-to-head
IJH iShares Core S&P Mid-Cap ETF0.05%$128.4B+$547M-45bp on fee · 357× the assets · +$547M in over the monthHead-to-head
IDEV iShares Core MSCI International Developed Markets ETF0.04%$32.7B+$104M-46bp on fee · 91× the assets · +$104M in over the monthHead-to-head
IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF0.04%$23.4B+$520M-46bp on fee · 65× the assets · +$520M in over the monthHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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