Invesco BulletShares 2026 Corporate Bond ETF

Invesco BulletShares 2026 Corporate Bond ETF (BSCQ) holds investment-grade corporate bonds (rated BBB- or higher) that mature in 2026. It is scheduled to close on or about December 15, 2026, and pay shareholders their share of the fund in cash. That fixed end date is what sets it apart from ongoing short-term bond funds such as SPSB. Its 0.10% expense ratio is below the 0.13% peer average but above SPSB's 0.04%.

• Over the year to Oct 27, 2026, BSCQ returned +4.0%, 1st of 8 among similar funds.
• Its 5-year annualized return was +1.9% and its 10-year +3.0%.
• In the 2020 COVID crash it fell 16.5% and regained its old high 2.3 months after the low.
• Its worst full calendar year was 2022 (-8.3%); its best was 2019 (+13.9%).
• The deepest fall in its price history was 16.5% (Mar 4, 2020 to Mar 20, 2020), recovered by May 29, 2020.

As of Aug 31, 2026, the fund held 130 securities; the ten largest made up 14.57% of assets, and 33.95% sat in cash and money-market holdings.

The bonds mature in 0.2 years on average (weighted by size), with an average coupon of 3.5%.

• Over the three months to Aug 31, 2026, investors withdrew a net $366.5M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.28%, +0.33%, +0.37%.

The fund tracks the Invesco BulletShares USD Corporate Bond 2026 Index. Invesco Indexing LLC builds the index, and it is affiliated with the fund's adviser. The index starts with US dollar bonds from companies based in the US, Canada, Western Europe or Japan. To qualify, a bond must mature in 2026 or be likely to be called in 2026. A called bond is one the issuer repays early. It must also pay fixed taxable interest, be rated at least BBB- by S&P or Fitch or Baa3 by Moody's, and have at least $500 million outstanding. The index held 455 bonds as of October 31, 2025. The fund buys a representative sample rather than every bond.

Bonds are weighted by market value, and no single issuer can exceed 5% at each monthly rebalance. The fund generally holds each bond until it matures, is called or drops out of the index. During 2026 the index adds no new bonds and rebalances only through June. As bonds mature, the proceeds move into Treasury bills and commercial paper, which are short-term IOUs from companies.

The fund is scheduled to terminate on or about December 15, 2026, and pay out its net assets in cash. The board can change that date. Unlike a single bond, the fund does not promise a set payout at the end. It is also not a target date fund.

• BSCQ charges 0.1% a year, versus an average of 0.13% for the similar funds below (6th of 8, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $10 in the first year and $129 over 10 years (assuming a 5% annual return).

It holds high-quality corporate bonds that had an average of 0.3 years left to maturity as of May 31, 2026, and it is winding down to cash before a scheduled close.

BSCQ can act like one rung of a bond ladder: money set aside for a known expense due around late 2026. It has had rough patches. In the 2020 COVID crash it fell 16.5% between March 4 and March 20, 2020, then recovered by May 29, 2020. In 2022, when rising interest rates pushed bond prices down, it lost 8.29%, its worst calendar year. It took about 22 months, until August 1, 2024, to get back to its January 2022 peak. The fund launched in 2016, so it has no 2008 record. Those drops came when its bonds still had years to run. In the year to October 27, 2026, its deepest dip was 0.1%. The trailing yield was 4.1% as of that date, paid monthly. That yield is likely to drift toward cash rates as the bonds mature. The fee is 0.10%. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by bond funds with the closest average maturity and issuer mix (N-PORT).