ETF Evaluator:
Invesco Investment Grade Defensive ETF ()
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(as of Aug 26)
Best Performing in Short-Term Bond Over the Last Year
| 6.6% | Overlay Shares Short Term Bond ETF (OVT) |
| 5.0% | AAM SLC Low Duration Income ETF (LODI) |
| 4.6% | SanJac Alpha Low Duration ETF (SJLD) |
| 4.5% | Performance Trust Short Term Bond ETF (STBF) |
| 4.4% | American Century® Short Dur Str Inc ETF (SDSI) |
Risk
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Risk
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ETF Details
Invesco Investment Grade Defensive ETF Overview
Invesco Investment Grade Defensive ETF (IIGD) is a passively managed Taxable Bond Short-Term Bond exchange-traded fund (ETF). Invesco launched the ETF in 2018.
The investment seeks to track the investment results (before fees and expenses) of the Invesco Investment Grade Defensive Index (the "underlying index").
The fund generally will invest at least 80% of its total assets in securities that comprise the underlying index. The underlying index is designed to provide exposure to U.S. investment grade bonds having the highest "quality scores" (within the eligible universe of U.S. investment grade bonds) as determined by the index provider.
About Invesco Investment Grade Defensive ETF (IIGD)
There are 4 members of the management team with an average tenure of 6.32 years: Peter Hubbard (2018), Jeremy Neisewander (2018), Tom Boksa (2019) and Elizabeth Sanford (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE Investment Grade Def TR USD index with a weighting of 100%. Invesco Investment Grade Defensive ETF has 164 securities in its portfolio. The top 10 holdings constitute 7.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Invesco Investment Grade Defensive ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Invesco Investment Grade Defensive ETF has 0.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.8% (99.2% domestic bond, 0.6% foreign bond and 0.0% convertible bond). Invesco Investment Grade Defensive ETF has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $26 million in total assets, which is below the $3 billion average for the Short-Term Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IIGD Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco Investment Grade Defensive ETF expense ratio is low compared to funds in the Short-Term Bond category. Invesco Investment Grade Defensive ETF has an expense ratio of 0.13%, which is 54% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco Investment Grade Defensive ETF has a portfolio turnover rate of 68%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Short-Term Bond category.
Recently, in the month of July 2026, Invesco Investment Grade Defensive ETF returned -0.3%, which earned it a grade of F, as the Short-Term Bond category had an average return of -0.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco Investment Grade Defensive ETF has a trailing yield of 4.26%, which is below the 4.54% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Invesco Investment Grade Defensive ETF Grades
Year to date, the ETF has returned 0.3%, 0.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.1% over the past year (grade of F), 5.0% over the past three years (grade of D) and 1.5% per year over the past five years (grade of F).
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IIGD Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IIGD Return (NAV) | -0.3% | -0.0% | 3.1% | 5.0% | 1.5% | na |
| IIGD Return (Price) | -0.3% | -0.1% | 3.0% | 5.0% | 1.5% | na |
| NAV +/- Price Return | 0.017% | 0.017% | 0.039% | 0.035% | 0.008% | na |
| Short-Term Bond Avg | -0.1% | 0.3% | 3.6% | 5.2% | 2.3% | 2.5% |
| IIGD Grade (NAV) | F | F | F | D | F | na |
| +/- Category (NAV) | -0.2% | -0.4% | -0.5% | -0.2% | -0.8% | na |
| IIGD Tax-Cost Ratio | na | na | 1.7% | 1.7% | 1.4% | na |
IIGD Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IIGD Return (NAV) | 0.3% | 7.1% | 4.0% | 5.7% | -7.3% | -1.4% | 6.3% | 7.6% | na | na | na |
| IIGD Return (Price) | 0.2% | 7.1% | 3.9% | 5.7% | -7.3% | -1.4% | 6.3% | 7.6% | na | na | na |
| NAV +/- Price Ret | -0.210% | 0.008% | -0.034% | 0.007% | -0.011% | 0.042% | -0.007% | -0.4% | na | na | na |
| Short-Term Bond Avg | 1.0% | 6.3% | 5.1% | 6.0% | -5.3% | -0.4% | 4.4% | 5.6% | 1.2% | 1.7% | 2.4% |
| IIGD Grade (NAV) | F | A | F | D | F | F | A | A | na | na | na |
| +/- Category | -0.7% | 0.8% | -1.1% | -0.3% | -2.0% | -0.9% | 2.0% | 2.1% | na | na | na |
| Risk Measures | |
| Beta: | 0.53 |
| R-Squared: | 93% |
| Standard Deviation: | 3.1% |
| Category Risk Index: | 1.34 |
| Category Risk Rating: | High |
| Total Risk Index: | 0.25 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.3% |
| Total Assets: | $ 27 Mil |
| Share Class Assets: | $ 27 Mil |
| Turnover: | 68.0% |
| Expense Ratio: | 0.13% |
| Index Fund: | Yes |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 8.0 years | |||
| Average Tenure: 6.3 years | |||
| Managers (Year): Hubbard Peter (2018), Neisewander Jeremy (2018), Boksa Tom (2019), Sanford Elizabeth (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 164 |
| % in Top 10 Holdings: | 7.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 99.2% |
| Foreign Bond: | 0.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invesco.com |
| Inception Date: | July 25, 2018 |
Expenses and Fees
| Expense Ratio (%): | 0.13% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.28% |
