Invesco launches variable rate preferred shares ETF

OCF of 0.50%

Invesco has expanded its product range with the launch of a variable rate preferred shares ETF.

The Invesco Variable Rate Preferred Shares UCITS ETF is listed on the London Stock Exchange and has an ongoing charges figure (OCF) of 0.50%. Preferred shares are hybrid securities that are primarily issued by banks and other financial firms who want to raise capital without diluting the value of common equity shareholders. Although technically equities, they behave more like bonds as they have defined distributions and long-dated fixed maturity. The variable rate means the yield moves in line with interest rates. Tracking the Wells Fargo Diversified Hybrid and Preferred Securities...