Share-split context: A forward split was recorded on Jul 17, 2023 with coefficient 3. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

What this ETF is trying to do

The INVESCO BLOOMBERG MVP MULTI-FACTOR ETF (ticker: BMVP) is an exchange-traded fund (ETF). An ETF is a way for investors to buy a collection of different stocks all at once. This specific fund tracks certain factors to build its portfolio.

What the numbers show

When looking at this ETF, it is important to understand how its price has changed over time. BMVP had a "forward split" on July 17, 2023. In a forward split, each old share becomes multiple new shares (in this case, three). This makes the price per share look lower, but it does not change how much of the fund you own. A split like this is not a loss of money.

Because of this split, we look at "split-adjusted" returns to see how the fund actually performed. There are two types of returns to watch:

• Price Return: This only shows how much the share price changed.

• Total Return: This includes the share price change plus any cash distributions (dividends) paid out.

For the past year, the one-year price return was approximately 6.98%. However, the one-year total return was higher, at approximately 9.00%. Looking further back, the three-year price return was approximately 43.07%, while the three-year total return was approximately 51.58%.

Income and distribution explanation

Some investors look for "distributions," which is cash paid out from the fund. BMVP has a distribution yield of approximately 1.82%. These payments usually happen every quarter (four times a year). While these payments provide cash, it is important to remember that a high yield does not guarantee that your total investment will grow.

NAV erosion explanation

"NAV erosion" is a term used to describe when the value of the underlying assets in an ETF decreases over time. It is important to distinguish between a falling share price and actual NAV erosion. For BMVP, the erosion-risk score is 100, and the data shows "no price erosion detected." The erosion severity is rated as "good."

Top Holdings

The following are the Top Holdings for this ETF. Please note that this is only a partial list of the total holdings:

• Leidos Holdings Inc (2.33%)

• Marathon Petroleum Corp (2.24%)

• NetApp Inc (2.18%)

• Ameriprise Financial Inc (2.09%)

• Nucor Corp (2.07%)

• AT&T Inc (2.01%)

• Raymond James Financial Inc (2.01%)

• Ross Stores Inc (2.01%)

• Lockheed Martin Corp (1.99%)

• Labcorp Holdings Inc (1.96%)

Holdings can change over time.

Pros

• The ETF has shown positive price returns and total returns over the last year and three years.

• There is no detected price erosion according to the current erosion-risk score.

Cons

• The list of holdings provided is only a partial view of the full portfolio.

Beginner takeaway

When studying BMVP, remember that the total return is higher than the price return because it includes cash distributions. Also, keep in mind that the share price was adjusted during a forward split in 2023, which is a normal part of how some funds manage their shares.