5 min readBy Ron Koren ETF Insider
How does the BSCN ETF work?
The BSCN ETF is a specialized investment fund that focuses on a specific sector. This exchange-traded fund offers investors exposure to a range of companies in this sector.
The issuer of the BSCN ETF, Invesco Indexing LLC, maintains and compiles the Underlying Index for this fund. Invesco Indexing LLC is closely affiliated with Invesco Capital Management LLC, which serves as the investment adviser, and Invesco Distributors, Inc., the distributor of the ETF. The Underlying Index aims to track the performance of a portfolio of U.S. dollar-denominated investment grade corporate bonds with maturities or effective maturities in the year 2023, with certain bonds potentially containing embedded issuer call options.
The AlternativeShares IBD 50 ETF (BSCN) follows a dividend distribution strategy that aligns with its underlying index, the IBD 50 Index. This ETF aims to provide investors with exposure to high-growth stocks selected based on fundamental and technical factors. Dividend distributions for BSCN are typically made on a quarterly basis and are contingent upon the dividend policies and performance of the individual companies within the index. As the focus of BSCN is primarily on capital appreciation through growth stocks, investors should expect potential dividend returns but may find this ETF more appealing for its growth-oriented investment approach.
Tracking the performance of U.S. dollar-denominated investment grade corporate bonds with maturities or effective maturities in the year 2023 is the primary objective of the Invesco BulletShares 2023 Corporate Bond ETF (BSCN). Invesco Indexing LLC, affiliated with the Fund's investment adviser and distributor, compiles and maintains the Underlying Index, which comprises bonds meeting specific criteria such as a minimum BBB- rating by S&P Global Ratings or equivalent from other rating agencies, fixed taxable interest payments, and at least $500 million in face value outstanding. BSCN employs a sampling methodology to achieve its investment objective while avoiding excessive concentration in any one industry, making it a suitable option for investors seeking exposure to 2023 corporate bonds.
The correlation aspect of the Invesco BulletShares 2023 Corporate Bond ETF (BSCN) is primarily related to its underlying index, which measures the performance of a portfolio of U.S. dollar-denominated investment-grade corporate bonds with maturities or effective maturities in the year 2023. Since BSCN focuses on a specific segment of the corporate bond market with a set maturity date, its correlation with broader market indices may be lower than other ETFs. Investors can use BSCN for targeted exposure to 2023 bonds, seeking income with a specific maturity date.
The Invesco BulletShares 2023 Corporate Bond ETF (BSCN) focuses on the corporate bond sector, specifically targeting investment-grade corporate bonds with maturities or effective maturities in the year 2023. BSCN invests in U.S. dollar-denominated bonds issued by companies domiciled in the U.S., Canada, Western Europe, or Japan that meet certain criteria, including a minimum credit rating and face value outstanding. The ETF utilizes a sampling methodology to achieve its investment objective and typically maintains a diversified portfolio, though it had significant exposure to the financials sector as of August 31, 2022.
The exposure characteristic of the Invesco BulletShares 2023 Corporate Bond ETF (BSCN) is focused on U.S. dollar-denominated investment grade corporate bonds with maturities or effective maturities in the year 2023. BSCN primarily invests in a portfolio of bonds issued by companies domiciled in the U.S., Canada, Western Europe, or Japan, meeting specific eligibility criteria, including credit ratings and face value outstanding requirements. This ETF offers investors the opportunity to gain exposure to a diversified basket of fixed-income securities with a focus on the 2023 maturity date, providing potential income and stability to their portfolios.
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