Invesco Ultra Short Duration ETF
Actively managed U.S. bond ETF
As of its 2026 Q2 report, Invesco Ultra Short Duration ETF held 388 positions with $3.47B in net assets. Its ten largest holdings made up 7.2% of the fund. The GSY share class costs 0.22% a year. Over the 12 months to May 2026, GSY returned 4.5%, with dividends reinvested. In 2026 Q3 it added 88 new positions and exited 65.
The Invesco Ultra Short Duration ETF (the Fund) seeks maximum current income, consistent with preservation of capital and daily liquidity.
The fund pursues a low-duration strategy, holding a diversified portfolio of fixed-income securities with average duration under one year—including Treasury securities, investment-grade corporate bonds rated Baa3 or higher, commercial paper, repurchase agreements, and bank obligations—with up to 10% in high-yield securities and up to 20% in foreign-currency debt. Day-to-day investment decisions are delegated to Invesco Advisers, Inc. as sub-adviser. Because the fund's returns depend on the sub-adviser's security selection and the fund may hold securities whose credit quality or liquidity changes after purchase, performance will diverge from Treasury bills and money market funds. The fund is not a money market fund and does not maintain a stable $1.00 net asset value.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Invesco Private Prime Fund | 0.89% | $30.90M | — |
American Tower Corp. 2.75% · due 2027-01-15 | 0.74% | $25.67M | — |
Jefferies Financial Group Inc. 4.50% · due 2026-09-15 | 0.72% | $25.02M | — |
Haleon US Capital LLC 3.38% · due 2027-03-24 | 0.71% | $24.80M | — |
U.S. Treasury Notes/Bonds 3.38% · due 2028-02-29 | 0.71% | $24.78M | — |
Oracle Corp. 0.00% · due 2026-07-23 | 0.71% | $24.74M | — |
U.S. Treasury Bills 0.00% · due 2027-03-18 | 0.70% | $24.21M | — |
U.S. Treasury Bills 0.00% · due 2027-04-15 | 0.70% | $24.14M | — |
Brunswick Corp. 0.00% · due 2026-05-05 | 0.69% | $23.99M | — |
Global Payments Inc. 0.00% · due 2026-05-04 | 0.63% | $21.79M | — |
The 200 largest of 388 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 80.83% |
| Securitized | 17.81% |
| Cash & short-term | 2.10% |
| Loans | 0.00% |
Look-through blends 2 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
By sector
- Other
- 27.0%
- International
- 16.1%
- Financials
- 15.9%
- Securitized
- 14.6%
- 12 other sectors
- 26.4%
- Other
- 27.0%
- International
- 16.1%
- Financials
- 15.9%
- Securitized
- 14.6%
- Government
- 4.3%
- Utilities
- 4.2%
- Industrials
- 3.3%
- Information Technology
- 2.8%
- Consumer Discretionary
- 2.6%
- Consumer Staples
- 2.0%
- Real Estate
- 1.8%
- Health Care
- 1.3%
- Communication Services
- 1.2%
- Energy
- 1.2%
- Materials
- 1.0%
- Cash
- 0.7%
How it has done
GSY share class · total returns with dividends reinvested
Volatility over the last 12 months: 0.38%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
Invesco Ultra Short Duration ETF is an actively managed U.S. bond ETF.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Credit quality
- Investment grade
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.22%· GSY 0.22%
- Portfolio turnover
- 41.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
88 new· the largest 7
65 exited· the largest 7
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 52.1% |
| Fixed rate | 46.5% |
| Zero-coupon or unclassified | 1.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 35.5% |
| 1-3y | 47.1% |
| 3-5y | 6.0% |
| 5-10y | 3.9% |
| 10y+ | 7.4% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 66% |
| Interest rates | 34% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.23 yr |
| High yield | +0.01 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.06 yr | 10% |
| 1 yr | 0.43 yr | 65% |
| 5 yr | 0.14 yr | 22% |
| 10 yr | 0.02 yr | 3% |
| 30 yr | 0.00 yr | 0% |
| 3 mo | 0.07 yr | 6% |
| 1 yr | 0.77 yr | 62% |
| 5 yr | 0.39 yr | 31% |
| 10 yr | 0.01 yr | 1% |
| 30 yr | 0.00 yr | 0% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.06 | +0.07 | +0.00 | $23.9k | $75 |
| 1 yr | +0.43 | +0.77 | +0.00 | $266.8k | $993 |
| 5 yr | +0.14 | +0.38 | +0.01 | $132.7k | $2.2k |
| 10 yr | +0.02 | +0.01 | +0.00 | $3.7k | $1.1k |
| 30 yr | +0.00 | +0.00 | +0.00 | $17 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
Understand how this fund fits with the rest.
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