0001104659-24-001404.txt : 20240104 0001104659-24-001404.hdr.sgml : 20240104 20240104164002 ACCESSION NUMBER: 0001104659-24-001404 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 15 FILED AS OF DATE: 20240104 DATE AS OF CHANGE: 20240104 EFFECTIVENESS DATE: 20240104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INVESCO EXCHANGE-TRADED FUND TRUST CENTRAL INDEX KEY: 0001209466 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-102228 FILM NUMBER: 24512677 BUSINESS ADDRESS: STREET 1: 3500 LACEY ROAD STREET 2: SUITE 700 CITY: DOWNERS GROVE STATE: IL ZIP: 60515 BUSINESS PHONE: 800-983-0903 MAIL ADDRESS: STREET 1: 3500 LACEY ROAD STREET 2: SUITE 700 CITY: DOWNERS GROVE STATE: IL ZIP: 60515 FORMER COMPANY: FORMER CONFORMED NAME: POWERSHARES EXCHANGE TRADED FUND TRUST DATE OF NAME CHANGE: 20021210 0001209466 S000020214 Invesco S&P 500 BuyWrite ETF C000056583 Invesco S&P 500 BuyWrite ETF PBP 497 1 tm241456d1_497.htm 497

 

INVESCO EXCHANGE-TRADED FUND TRUST

 

SUPPLEMENT DATED JANUARY 4, 2024, TO THE PROSPECTUSES
AND STATEMENT OF ADDITIONAL INFORMATION DATED
AUGUST 28, 2023, AS PREVIOUSLY SUPPLEMENTED, OF:

 

Invesco S&P 500 BuyWrite ETF (PBP)
(the “Fund”)

 

Important Notice Regarding a Change to the Unitary Management Fee
and listing exchange of the Fund

 

At a meeting held on December 19, 2023, the Board of Trustees (the “Board”) of the Invesco Exchange-Traded Fund Trust (the “Trust”) approved the reduction of the Fund’s annual unitary management fee to 0.29% of the Fund’s average daily net assets, effective January 5, 2024 (the “Effective Date”). Accordingly, as of the Effective Date, the Prospectus is revised as follows:

 

The following replaces the corresponding disclosure in the “Fund Fees and Expenses” section of the Fund’s Summary Prospectus and the “Summary Information – Fund Fees and Expenses” section of the Fund’s Statutory Prospectus:

 

This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund (“Shares”). You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.

 

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
 
Management Fees(1)   0.29%
Other Expenses   None 
Total Annual Fund Operating Expenses(1)   0.29%

 

(1)Effective January 5, 2024, the Fund’s unitary management fee was reduced. “Management Fees” and “Total Annual Fund Operating Expenses” have been restated to reflect current fees.

 

Example. This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. This example does not include brokerage commissions that investors may pay to buy and sell Shares. Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:

 

1 Year   3 Years   5 Years   10 Years 
$30   $93   $163   $368 

 

In the “Management of the Fund–Advisory Fees” section of the Fund’s Statutory Prospectus, the first paragraph is replaced with the following:

 

Pursuant to an investment advisory agreement between the Adviser and the Trust (the “Investment Advisory Agreement”), the Fund pays the Adviser an annual management fee equal to 0.29% of its average daily net assets (the “Advisory Fee”).

 

 

 

 

The information relating to the Fund set forth in the table under the section titled “Management—Investment Advisory Agreement” of the Fund’s Statement of Additional Information is replaced with the following:

 

Fund  Advisory Fee 
Invesco S&P 500 BuyWrite ETF***   0.29%

 

*** Prior to January 5, 2024, the Fund’s Advisory Fee was 0.49% of its average daily net assets.

 

Also at the meeting held on December 19, 2023, the Board of the Trust approved a change to the listing exchange of the Fund. Effective as of the open of markets on January 25, 2024 (the “Listing Change Date”), the listing exchange for shares of the Fund will change from NYSE Arca, Inc. to Cboe BZX Exchange, Inc. Therefore, on the Listing Change Date, all references in the Fund’s Prospectuses and Statement of Additional Information to the Fund’s shares being listed for trading on NYSE Arca, Inc. are replaced with references to Cboe BZX Exchange, Inc.

 

In addition and accordingly, in the “Exchange Listing and Trading” section of the Fund’s Statement of Additional Information, the second paragraph is replaced with the following:

 

There can be no assurance that a Fund will continue to meet the requirements of its Exchange necessary to maintain the listing of its Shares. The Exchanges may, but are not required to, remove the Shares from listing if: (i) following the initial 12-month period beginning at the commencement of trading of a Fund, there are fewer than 50 beneficial owners of Shares (for each Cboe-listed Fund, there must be fewer than 50 beneficial owners for at least 30 consecutive trading days); (ii) the Fund is no longer eligible to operate in reliance on Rule 6c-11 under the 1940 Act; (iii) the Fund fails to meet certain continued listing standards of an Exchange; or (iv) such other event shall occur or condition shall exist that, in the opinion of the relevant Exchange, makes further dealings on such Exchange inadvisable. The applicable Exchange will remove the Shares from listing and trading upon termination of the Fund.

 

Please Retain This Supplement for Future Reference.

 

P-PBP-SUMSTATSAI -SUP 010424

 

 

 

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Invesco S&P 500 BuyWrite ETF
Invesco S&P 500 BuyWrite ETF

INVESCO EXCHANGE-TRADED FUND TRUST

 

SUPPLEMENT DATED JANUARY 4, 2024, TO THE PROSPECTUSES
AND STATEMENT OF ADDITIONAL INFORMATION DATED
AUGUST 28, 2023, AS PREVIOUSLY SUPPLEMENTED, OF:

 

Invesco S&P 500 BuyWrite ETF (PBP)
(the “Fund”)

 

Important Notice Regarding a Change to the Unitary Management Fee
and listing exchange of the Fund

 

At a meeting held on December 19, 2023, the Board of Trustees (the “Board”) of the Invesco Exchange-Traded Fund Trust (the “Trust”) approved the reduction of the Fund’s annual unitary management fee to 0.29% of the Fund’s average daily net assets, effective January 5, 2024 (the “Effective Date”). Accordingly, as of the Effective Date, the Prospectus is revised as follows:

The following replaces the corresponding disclosure in the “Fund Fees and Expenses” section of the Fund’s Summary Prospectus and the “Summary Information – Fund Fees and Expenses” section of the Fund’s Statutory Prospectus:

 

This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund (“Shares”). You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Invesco S&P 500 BuyWrite ETF
Invesco S&P 500 BuyWrite ETF
Management Fees 0.29% [1]
Other Expenses none
Total Annual Fund Operating Expenses 0.29% [1]
[1] Effective January 5, 2024, the Fund’s unitary management fee was reduced. “Management Fees” and “Total Annual Fund Operating Expenses” have been restated to reflect current fees.
Example.

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. This example does not include brokerage commissions that investors may pay to buy and sell Shares. Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:

Expense Example
1 Year
3 Years
5 Years
10 Years
Invesco S&P 500 BuyWrite ETF | Invesco S&P 500 BuyWrite ETF | USD ($) 30 93 163 368

Please Retain This Supplement for Future Reference.

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INVESCO EXCHANGE-TRADED FUND TRUST

 

SUPPLEMENT DATED JANUARY 4, 2024, TO THE PROSPECTUSES
AND STATEMENT OF ADDITIONAL INFORMATION DATED
AUGUST 28, 2023, AS PREVIOUSLY SUPPLEMENTED, OF:

 

Invesco S&P 500 BuyWrite ETF (PBP)
(the “Fund”)

 

Important Notice Regarding a Change to the Unitary Management Fee
and listing exchange of the Fund

 

At a meeting held on December 19, 2023, the Board of Trustees (the “Board”) of the Invesco Exchange-Traded Fund Trust (the “Trust”) approved the reduction of the Fund’s annual unitary management fee to 0.29% of the Fund’s average daily net assets, effective January 5, 2024 (the “Effective Date”). Accordingly, as of the Effective Date, the Prospectus is revised as follows:

Risk/Return [Heading] rr_RiskReturnHeading Invesco S&P 500 BuyWrite ETF
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
The following replaces the corresponding disclosure in the “Fund Fees and Expenses” section of the Fund’s Summary Prospectus and the “Summary Information – Fund Fees and Expenses” section of the Fund’s Statutory Prospectus:

 

This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund (“Shares”). You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.

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This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. This example does not include brokerage commissions that investors may pay to buy and sell Shares. Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:

Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock

Please Retain This Supplement for Future Reference.

Invesco S&P 500 BuyWrite ETF | Invesco S&P 500 BuyWrite ETF  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.29% [1]
Other Expenses rr_OtherExpensesOverAssets none
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.29% [1]
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Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 93
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 163
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 368
[1] Effective January 5, 2024, the Fund’s unitary management fee was reduced. “Management Fees” and “Total Annual Fund Operating Expenses” have been restated to reflect current fees.
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Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. (B) If the Fund is a Money Market Fund that is a government Money Market Fund, as defined in \u00a7 270.2a\u20137(a)(16), or a retail Money Market Fund, as defined in \u00a7 270.2a\u20137(a)(25), and that is subject to the requirements of \u00a7\u00a7 270.2a\u20137(c)(2)(i) and/or (ii) of this chapter (or is not subject to the requirements of \u00a7\u00a7 270.2a\u20137(c)(2)(i) and/or (ii) of this chapter pursuant to \u00a7 270.2a\u20137(c)(2)(iii) of this chapter, but has chosen to rely on the ability to impose liquidity fees and suspend redemptions consistent with the requirements of \u00a7\u00a7 270.2a\u20137(c)(2)(i) and/or (ii)), include the following statement: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. (C) If the Fund is a Money Market Fund that is a government Money Market Fund, as defined in \u00a7 270.2a\u20137(a)(16), that is not subject to the requirements of \u00a7\u00a7 270.2a\u20137(c)(2)(i) and/or (ii) of this chapter pursuant to \u00a7 270.2a\u20137(c)(2)(iii) of this chapter, and that has not chosen to rely on the ability to impose liquidity fees and suspend redemptions consistent with the requirements of \u00a7\u00a7 270.2a\u20137(c)(2)(i) and/or (ii), include the following statement: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. Instruction. If an affiliated person, promoter, or principal underwriter of the Fund, or an affiliated person of such a person, has contractually committed to provide financial support to the Fund, and the term of the agreement will extend for at least one year following the effective date of the Fund's registration statement, the statement specified in Item 4(b)(1)(ii)(A), Item 4(b)(1)(ii)(B), or Item 4(b)(1)(ii)(C) may omit the last sentence (\"The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.\"). For purposes of this Instruction, the term \"financial support\" includes any capital contribution, purchase of a security from the Fund in reliance on \u00a7 270.17a\u20139, purchase of any defaulted or devalued security at par, execution of letter of credit or letter of indemnity, capital support agreement (whether or not the Fund ultimately received support), performance guarantee, or any other similar action reasonably intended to increase or stabilize the value or liquidity of the fund's portfolio; however, the term \"financial support\" excludes any routine waiver of fees or reimbursement of fund expenses, routine inter-fund lending, routine inter-fund purchases of fund shares, or any action that would qualify as financial support as defined above, that the board of directors has otherwise determined not to be reasonably intended to increase or stabilize the value or liquidity of the fund's portfolio. 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You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) Example This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. 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