The Invesco S&P 500 UCITS ETF (SPXP) is an Ireland-domiciled equity ETF managed by Invesco. SPXP represents the fund's accumulating share class traded in British pounds on the London Stock Exchange.

The fund seeks to track the net total return performance of the S&P 500 Index, a benchmark comprising around 500 large-cap companies in the U.S. equity market.

SPXP follows a passive investment strategy but uses synthetic replication rather than physically replicating the index. The fund holds a basket of equities and uses swap agreements with counterparties to obtain the performance of the S&P 500, less applicable costs.

The S&P 500 is weighted by free float-adjusted market capitalization and covers companies across different sectors of the economy. The index represents a significant portion of the U.S. equity market, and its composition is periodically reviewed by S&P Dow Jones Indices.

Composition / Exposure Profile

SPXP's economic exposure is linked to the companies included in the S&P 500, covering sectors such as:

• Information technology.

• Financials.

• Health care.

• Consumer discretionary.

• Communication services.

• Industrials.

• Consumer staples.

• Energy.

• Materials.

• Utilities.

• Real estate.

The benchmark's geographic exposure is concentrated in the United States. Because the index is primarily weighted by free float-adjusted market capitalization, the largest eligible companies tend to account for larger portions of the benchmark.

Because SPXP uses synthetic replication, the fund's economic exposure should be distinguished from the assets actually held in its equity basket. These securities do not necessarily match the S&P 500 constituents, as swaps are used to deliver the performance of the reference index.

Structure and Costs

The fund and share class have the U.S. dollar as their base currency. On the London Stock Exchange, the accumulating share class trades in GBP/GBX under SPXP and in USD under SPXS. SPXP is not currency hedged.

The ETF has ongoing charges of 0.05% per year, in addition to the fee associated with the swaps used for synthetic replication. These costs affect the fund's net return.

SPXP is domiciled in Ireland, operates as part of Invesco Markets plc, and complies with the UCITS framework. Because the strategy relies on swap agreements, the fund is also exposed to counterparty risk associated with the institutions responsible for delivering the index return.

The share class follows an accumulating income policy. Income associated with the strategy is therefore retained within the fund rather than periodically distributed to shareholders.

History and Evolution of the ETF

The Invesco S&P 500 UCITS ETF (Acc) was launched in 2010 to provide exposure to the S&P 500 through a synthetic UCITS structure. Since its launch, the fund has maintained a passive strategy linked to the S&P 500, using a basket of assets combined with swap agreements to track the index's net total return.

Throughout its history, SPXP's performance has reflected movements in large U.S. companies as well as factors including corporate earnings, interest rates, and broader U.S. economic conditions.

Additional Information

Invesco S&P 500 UCITS ETF Acc (Ireland) is an exchange-traded fund (ETF), with assets under management totaling $30.97 billion.

Over the past 12 months, Invesco S&P 500 UCITS ETF Acc recorded a return of 16.43%, with its price trading between $0.20 and $1,370.45 during the same period.

The ETF is traded under the ticker SPXP.