Invesco S&P International Developed High Quality ETF

Invesco S&P International Developed High Quality ETF (IDHQ) is an index fund that tracks the S&P Quality Developed ex-U.S. LargeMidCap Index. That index holds roughly 200 large and midsize companies outside the US that score highest on profitability, earnings quality and low debt. Its 0.29% expense ratio is about average for similar funds. Broad international index funds cost far less, such as IDEV at 0.04%.

• Over the year to Oct 27, 2026, IDHQ returned +28.9%, 1st of 9 among similar funds.
• Its 5-year annualized return was +9.8% and its 10-year +11.1%.
• In the 2020 COVID crash it fell 29.8% and regained its old high 4.7 months after the low.
• Its worst full calendar year was 2008 (-49.9%); its best was 2009 (+40.0%).
• The deepest fall in its price history was 73.8% (Dec 6, 2007 to Mar 9, 2009), recovered by Jan 12, 2018.

As of Jul 31, 2026, the fund held 198 securities; the ten largest made up 32.11% of assets.

• Over the three months to Jul 31, 2026, investors added a net $105.1M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +7.19%, +5.73%, +0.07%.

The fund starts from a wider index, the S&P Developed ex-U.S. LargeMidCap. That index covers the largest companies that make up the top 85% of each developed country's market value, excluding the US. S&P Dow Jones Indices then scores each company on three measures. The first is return on equity, which compares earnings with the company's net worth. The second is the accruals ratio, which flags profits that rely on accounting entries rather than cash. The third is financial leverage, meaning debt compared with net worth. Only the top 20% by combined score make the cut, and each stock must trade at least $3 million a day on average.

Each company's weight is its market value multiplied by its quality score, so higher-scoring firms get bigger weights. As of December 31, 2025, the index held 194 stocks from 22 countries. Company sizes ranged from $1.7 billion to $419.7 billion. The fund uses "full replication," which means it buys every stock in the index at roughly the index's weights. It keeps at least 90% of its assets in index stocks. Portfolio turnover was 41%.

The fund doesn't use leverage or options. It held no derivatives as of July 31, 2026. Its holdings are priced in foreign currencies, so a stronger US dollar lowers the fund's value. The fund can lean heavily into one industry or one country if the index does.

• IDHQ charges 0.29% a year, versus an average of 0.29% for the similar funds below (4th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $30 in the first year and $368 over 10 years (assuming a 5% annual return).

It adds quality-screened companies from Switzerland, Japan, the UK and Europe to a portfolio that may hold mostly US stocks.

IDHQ adds non-US companies such as Roche, ASML and Novartis, but its history includes some deep falls. From December 2007 to March 2009 it lost 73.8%. It didn't regain that peak until January 2018, about 106 months later. Its worst calendar year was 2008, at -49.9%. It fell 29.8% in the 2020 COVID crash but recovered in under five months. In 2022 it dropped 32.5% and took about 17 months to recover. Anyone forced to sell shares in years like those would lock in losses. The trailing 12-month yield was 1.95% as of October 27, 2026, paid quarterly, so it offers only modest income. In the SEC's standard example, costs are $30 for the first year on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.