Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPD.L)

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This Invesco ETF endeavors to mirror the overall return of the Morningstar MLP Composite Index (referred to as the 'Reference Index'), after accounting for associated expenses. Investors in the fund receive dividend distributions each quarter. The Reference Index itself is designed to offer broad and varied exposure to American energy Master Limited Partnerships (MLPs) that trade publicly. Individual components within the index are weighted according to the monetary value of their yearly distributions, with a maximum allocation of 10% for any single constituent. It selectively includes the largest 97% of MLPs based on their market capitalization. This index undergoes daily calculation, quarterly rebalancing, and semi-annual reviews. To meet its objective, the fund primarily invests in a diverse collection of equities. While these holdings are typically responsible for the majority of the fund's returns, they do not necessarily perfectly align with the underlying assets of the Reference Index. Additionally, the fund employs unfunded swap agreements. These financial instruments involve authorized third parties who contractually agree to exchange with the fund any discrepancy between the returns generated by the Reference Index and those of its actual equity holdings. This sophisticated approach aims to ensure a more precise and steady alignment with the Reference Index's performance than could typically be achieved through merely purchasing the physical securities. This Exchange Traded Fund (ETF) operates under a passive management strategy. Investing in this product means acquiring shares in a fund designed to track an index, rather than directly owning the specific underlying assets held within its portfolio.