Invesco AT1 Capital Bond ETF USD is a bonds ETF from Invesco tracking the AT1 Capital Bond index through physical replication. Domiciled in Ireland and launched in 2018, the fund manages about 869 M € and charges a TER of 0.39% — 39 € per year on a €10,000 investment. Income is automatically reinvested in the fund (accumulating).
Invesco AT1 Capital Bond ETF USD competes with 2 other products on the same index (AT1 Capital Bond): it ranks 1st by fund size and 1st by ongoing cost, with a TER of 0.39% against a group median of 0.39%. It has been listed since 2018, 8 years of track record — the oldest in its comparison group.
On a €10,000 investment the TER costs 39 € a year, and no product in the group costs less.
Replication is physical: the fund holds the underlying securities directly. The ten largest positions account for 19.3% of the portfolio.
Income is accumulated: no distribution is paid out, the share price absorbs it. In a savings plan this removes the need to reinvest dividends by hand. The fund is denominated in USD. That is not the same as currency risk: the exposure comes from the currencies of the underlying holdings, not from the denomination or the trading currency of a given listing.
The fund is domiciled in Ireland, which determines the tax treatment of income received by the fund and the supervisory authority.
| Lloyds Banking Group plc 7.5% | 2.4% |
| NatWest Group plc 8.62% | 2.3% |
| Nordea Bank ABP 6.62% | 2.3% |
| UniCredit S.p.A. 8% | 2.2% |
| Westpac New Zealand Limited 5% | 2.1% |
| Banco Santander, S.A. 7.5% | 2.1% |
| Credit Agricole S.A. 7.88% | 2.0% |
| Deutsche Bank AG New York Branch 7.5% | 2.0% |
| UBS Group Funding AG 7% | 1.9% |
| Borsa Italiana | AT1 | EUR |
| London Stock Exchange | AT1 | USD |
| London Stock Exchange | AT1P | GBX |
| SIX Swiss Exchange | IAT1 | USD |
Source: the fund's KID and the issuer's official documentation — data verified as of July 2026.
This page is informational and is not an investment recommendation. Figures may contain errors or be out of date: always check the KID and the issuer's factsheet before any decision.