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ETF sheet · Issuer-declared data
Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison
🇮🇹 Effective capital-gains rate: 26.00%details →

Invesco Global Active Defensive ESG Equity UCITS ETF AccIndex, costs, backtest, listings and taxation

ISIN: IE000N42HDP2Ticker: LVLC (Borsa Italiana) · LVLC (Xetra) · LVLC (London SE)Issuer: InvescoClass: Acc

Global Equity actively managed; the declared benchmark, MSCI World Total Return (Net) Index, is a yardstick, accumulating. Share class in US dollars (USD).

0.25% + 0.07%
TER + KID transaction costs ✓ declared by the issuer
379
rows published by the issuer · holdings ↓ ✓ declared by the issuer
343 m €
fund assets ✓ declared by the issuer
Every figure carries its provenance: ✓ declared by the issuer in its documents · ≈ computed by Rebalix on the declared data.

Fund

Name
Invesco Global Active Defensive ESG Equity UCITS ETF Acc
Declared index
MSCI World Total Return (Net) Index
Management
Active management
Replication
Active
SFDR
Article 8 — promotes environmental or social characteristics what does it mean?
Fund assets
342.6 mln EUR
Domicile
Ireland

Share class · this page

ISIN
IE000N42HDP2 · Acc
Ticker
LVLC (Borsa Italiana) · LVLC (Xetra) · LVLC (London SE)
Share-class currency
US dollars (USD)
TER
0.25%
Transaction costs
0.07% (issuer estimate, from the KID)
Income policy
NAV
8.76 USD (16 October 2026)
Share-class launch
19 July 2022
Data as declared by Invesco in the issuer’s official files and endpoints · collected on 17 October 2026 (monthly refresh). Facts only, no recommendation.
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Quick reads

  • Information Technology 28.5%first sector from the declared portfolio✓ declared by the issuer
  • 379 rowspublished by the issuer; completeness of the list not declared✓ declared by the issuer
  • Top 10 = 19.2%of the fund✓ declared by the issuer
  • Effective rate 26.00%on capital gains for Italian tax residents: from the declared white-list share≈ computed by Rebalix
✓ declared by the issuer · ≈ computed by Rebalix on the declared data in our census. They describe the past and are not indicative of future results.

Description and fund objective

Invesco Global Active Defensive ESG Equity UCITS ETF Acc is an actively managed ETF: it does not track an index — the declared index (MSCI World Total Return (Net) Index) is a comparison yardstick only. The declared annual cost (TER) is 0.25%, plus 0.07% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 343 million euro, was launched on 19 July 2022 and is domiciled in Ireland. In our registry 8 other ETFs declare the same index.

The fund’s objective — in the issuer’s words

Investment objective: The objective of the Fund is to achieve a long-term return in excess of the MSCI World Index (the "Benchmark") by investing in an actively-managed portfolio of global equities that meet environmental, social, and corporate governance ("ESG") criteria while limiting the volatility of the portfolio.

Keep reading the KID section ▾

Redemption and Dealing of Shares:The Fund's shares are listed on one or more Stock Exchange(s). Investors can buy or sell shares daily through an intermediary directly or on Stock Exchange(s) on which the shares are traded. In exceptional circumstances investors will be permitted to redeem their shares directly from the Umbrella Fund in accordance with the redemption procedures set out in the prospectus, subject to any applicable laws and relevant charges. Investment approach: To achieve its investment objective, the Fund will invest primarily in a portfolio of equity and equity-related securities of companies from developed markets worldwide whereby securities are selected by the Sub-Investment Manager based on three criteria: 1) compliance with the Fund’s ESG policy (the "ESG Policy"); which incorporates both exclusion criteria (based on an issuers exposure to controversial business activities or ESG controversies) and a best-in-class approach which selects those securities from each industry that score highest according to the Sub-Investment Manager’s scoring system; 2) attractiveness determined in accordance with the Sub-Investment Manager’s quantitative investment model; and 3) consistency between the portfolio’s expected risk characteristics and the Fund’s investment objective. Fund holdings are rebalanced monthly. The "quantitative investment model" uses mathematical, logical and statistical techniques for stock selection purposes.

The Fund is actively managed in reference to the MSCI World Index (the "Benchmark"). The Fund will not seek to track the performance of the Benchmark. The Fund’s portfolio holdings are selected through an optimisation process that utilises the Benchmark as a reference for risk and return characteristics. The Benchmark is also used for performance comparison purposes. Investors should note that the Benchmark is the intellectual property of the index provider. The Fund is not sponsored or endorsed by the index provider and a full disclaimer can be found in the Fund’s supplement. The Fund may use derivative instruments for the purposes of managing risk, reducing costs, generating additional capital or income. The Fund may engage in securities lending, whereby 90% of the revenues arising from securities lending will be returned to the Fund and 10% of the revenues will be retained by the securities lending agent. The Fund may be exposed to the risk

Intended Retail InvestorThe Fund is intended for investors aiming for long term capital growth, who may not have specific financial expertise but are able to make an informed investment decision based on this document, the supplement, and the prospectus, have a risk appetite consistent with the risk indicator displayed below and understand that there is no capital guarantee or protection (100% of capital is at risk). Practical Information Fund Depositary: The Bank of New York Mellon SA/NV, Dublin Branch, Riverside Two, Sir John Rogerson’s Quay, Grand Canal Dock, Dublin 2, D02 KV60, Ireland. Find out more: This document is specific to the Fund. Further information about the Fund can be obtained from the supplement, the prospectus, annual and interim reports. The prospectus, annual and interim reports are prepared for the Umbrella Fund, of which the Fund is a sub-fund. These documents are available free of charge in English. They can be obtained along with other information, such as share prices, at https://etf.invesco.com (select your country and navigate to the Documents section on the product page), or by calling +353 1 439 8000. The assets of the Fund are segregated as a matter of Irish law and as such, in Ireland, the assets of one sub-fund will not be available to satisfy the liabilities of another sub-fund. This position may be considered differently by the courts in jurisdictions outside of Ireland. Subject to satisfying certain criteria as set out in the prospectus, investors may be able to exchange their investment in the Fund for shares in another sub-fund of the Umbrella which is being offered at that time.

From the KID’s “Objectives” section · KID acquired on 14 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

What has changed in the fund over time

Every month we snapshot the register and the holdings and keep the picture. The history shows how the fund changes, not only what it is today.

  1. Share-class launch
    19 July 2022
    declared by the issuer
  2. Basket snapshots
    3 monthly
    since August 2026
  3. Dated events
    none so far
    TER, index, name, tax: every change is an event
Open the history →

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →
PerformanceIn this sectionChartBacktest

Fund performance

issuer-declared net asset value (NAV) · USD (loading exchange rates) · from Jul 2022 to Oct 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+75.3%
Annualised
+14.1%
Volatility (ann.)
10.3%
Max drawdown
-13.73%
-12%+12%+36%+59%+83%Jul 2022Aug 2023Sept 2024Sept 2025Oct 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+75.3%
19 Jul 2022 → 16 Oct 20264 years and 3 months · +75.3%
19 Jul 202216 Oct 2026Jul 2022Oct 2026
Accumulating class: income is reinvested inside the fund and already reflected in the NAV; no distribution is left out of the chart.
Calculations on the NAV: total-return series currency not qualified.
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-5%-10%-15%-20%20222023202420252026−13.73% · 12 Oct 2022
Max drawdown
-13.73%
peak → trough
Trough
12 Oct 2022
from the 16 Aug 2022 peak
Recovery time
111 days
recovery only: trough to break-even · ≈ 4 months
Underwater
168 days
decline + recovery: peak to break-even · ≈ 6 months · → recovered on 31 Jan 2023

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
16 Aug 202212 Oct 2022-13.73%31 Jan 2023168
25 Feb 202508 Apr 2025-10.23%02 May 202566
27 Feb 202627 Mar 2026-8.33%14 May 202676
28 Jul 202327 Oct 2023-8.07%07 Dec 2023132
05 Dec 202410 Jan 2025-5.64%13 Feb 202570

Calendar-year returns

2022
1.5%
since launch, 19 Jul
2023
13.6%
2024
16.8%
2025
18.6%
2026
9.7%
2022: the share class was launched on 19 July 2022; the return runs from launch to 30 December 2022 and is not a full year.

Month-by-month returns

2026Year 9.7%
Jan
0.6
Feb
2.4
Mar
-6.6
Apr
5.7
May
3.3
Jun
-1.0
Jul
3.2
Aug
2.8
Sept
-2.8
Oct
2.4
Nov
·
Dec
·
2025Year 18.6%
Jan
3.5
Feb
1.6
Mar
-1.9
Apr
1.8
May
4.6
Jun
1.9
Jul
-0.5
Aug
2.7
Sept
1.6
Oct
-0.4
Nov
1.6
Dec
0.9
2024Year 16.8%
Jan
2.8
Feb
2.3
Mar
3.1
Apr
-3.6
May
3.8
Jun
1.1
Jul
3.3
Aug
4.0
Sept
1.2
Oct
-2.4
Nov
4.3
Dec
-3.6
2023Year 13.6%
Jan
4.3
Feb
-2.1
Mar
2.3
Apr
2.1
May
-3.0
Jun
4.6
Jul
1.7
Aug
-1.9
Sept
-2.8
Oct
-2.3
Nov
7.0
Dec
3.6
2022Year 1.5%(since launch)
Jan
·
Feb
·
Mar
·
Apr
·
May
·
Jun
·
Jul
·
Aug
-3.8
Sept
-7.7
Oct
7.0
Nov
6.5
Dec
-2.4
JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.62.4-6.65.73.3-1.03.22.8-2.82.49.7
20253.51.6-1.91.84.61.9-0.52.71.6-0.41.60.918.6
20242.82.33.1-3.63.81.13.34.01.2-2.44.3-3.616.8
20234.3-2.12.32.1-3.04.61.7-1.9-2.8-2.37.03.613.6
2022-3.8-7.77.06.5-2.41.5(since launch)
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested: where declared). Deeper colour = larger move.

Method and sources

Source: Invesco. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available August 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.
RiskIn this sectionRisk

Risk indicators· EUR

Last year
Volatility (ann.)8.57%
Max drawdown-6.22%
Sharpe1.58
Sortino2.36
Last 3 years
Volatility (ann.)10.50%
Max drawdown-14.60%
Sharpe1.10
Sortino1.53
Full history
Volatility (ann.)11.34%
Max drawdown-14.60%
Sharpe0.75
Sortino1.06
Last yearLast 3 yearsFull history
Volatility (ann.)8.57%10.50%11.34%
Max drawdown-6.22%-14.60%-14.60%
Sharpe1.581.100.75
Sortino2.361.531.06
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.25%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.
PortfolioIn this sectionHoldings

Portfolio holdings

Rows in the published list
379
Top-10 weight
19.2%

Top 10 holdings

NVIDIA CORP USD0.001
5.06%
MICROSOFT CORP USD0.00000625
3.78%
ALPHABET INC-CL A USD0.001
3.23%
BROADCOM INC NPV
1.52%
JOHNSON & JOHNSON USD1
0.98%
ABBVIE INC USD0.01
0.96%
ADVANCED MICRO DEVICES USD0.01
0.96%
VISA INC-CLASS A SHARES USD0.0001
0.93%
NETAPP INC USD0.001
0.91%
TRAVELERS COS INC/THE NPV
0.88%

Sectors

Information Technology
28.5%
Financials
17.7%
Health Care
15.8%
Communication Services
11.2%
Industrials
9.3%
Consumer Staples
7.3%
Consumer Discretionary
6.0%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 1.9%AustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 2.4%Switzerland: 1.7%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFrance: 2.8%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItalyJamaicaJordanJapan: 9.3%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 1.9%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 69.2%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States69.2%
Japan9.3%
France2.8%
Canada2.4%
United Kingdom2.4%
Australia1.9%
Netherlands1.9%
Items not attributed to a country: 6.8% “Other” — labels as declared by the issuer.
⬇ Download the published holdings — Excel, 379 rows
Holdings as published by Invesco, holdings as at 1 October 2026: 379 rows archived by Rebalix, summarised here. Rebalix has no statement from the issuer on the completeness of this list. Weights are reported without rescaling and may not sum to 100%. How Rebalix verifies portfolio holdings →
StructureIn this sectionSame indexExchanges

ETFs declaring the same index

FundTERIncomeFund size
SMSWLD · Invesco · 2 classes
0.05%Acc. · Dist.9.4 mld EUR
IQGA · Invescoactive
0.24%Acc.1.3 mld EUR
IQGE · Invescoactive
0.29%Acc.1.2 mld EUR
IQSA · Invescoactive
0.30%Acc.3.1 mld EUR
IQSE · Invesco · 2 classesactive
0.30%Acc. · Dist.2.8 mld EUR
LVLE · Invescoactive
0.30%Acc.304 mln EUR
LVLD · Invescoactivenot on Borsa Italiana
0.25%Dist.343 mln EUR
IQGG · Invescoactivenot on Borsa Italiana
0.29%Acc.986 mln EUR
9 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted as follows: Milan-listed classes first, then the others; within each group by ascending TER, then by descending assets. A dash “—” = not declared by the issuer in the files we read — not a zero.

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE000N42HDP2LVLC
  • Moneyfarmzero on single buys from 1,000 €, agreement until 31 December 2026
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 15 October 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

Exchanges with a ticker available· in alphabetical order
ExchangeTickerExchange sourceCurrencyRegistered since
Borsa Italiana (ETFplus)LVLCfrom the issuerESMA register (FIRDS)—21 Jul 2022
Börse DüsseldorfLVLCfrom mappingESMA register (FIRDS)—21 Jul 2022
Börse FrankfurtLVLCfrom mappingESMA register (FIRDS)—21 Jul 2022
Börse HamburgLVLCfrom mappingESMA register (FIRDS)—19 Oct 2022
Börse HannoverLVLCfrom mappingESMA register (FIRDS)—9 Dec 2024
Börse München / gettexLVLCfrom mappingESMA register (FIRDS)—8 Dec 2022
Börse StuttgartLVLCfrom mappingESMA register (FIRDS)—28 Feb 2025
London Stock Exchange· 2 declared linesLVLC★LVLGfrom the issuerissuer’s product list (exchange outside the FIRDS perimeter)USDGBX—
Tradegate ExchangeLVLCfrom mappingESMA register (FIRDS)—16 Oct 2023
Xetra (Deutsche Börse)LVLCfrom the issuerESMA register (FIRDS)—21 Jul 2022
from the issuer — ticker declared by the issuer in its product list.
from mapping — ticker obtained by ISIN→exchange mapping under the open FIGI standard, not read from the exchange’s list.
Each row is one exchange: the operator with all its markets and segments (regulated market and Freiverkehr included). “Registered since”: admission date in the ESMA register (FIRDS), not necessarily the first trading day; a dash = date not recorded in the sources.
Other exchanges on record · 1 · show
ExchangeTickerExchange sourceRegistered since
Euronext Dublinnot availableESMA register (FIRDS)20 Jul 2022
For these exchanges none of the listing sources Rebalix covers provides a ticker; the listing is known from the ESMA register (FIRDS) or declared by the issuer.
+ 4 other trading platforms (platforms for professional participants and segments without admission to listing, such as an exchange operator’s dark books or auctions): they are not exchanges and are not listed.
Exchanges are taken from the official ESMA register (FIRDS) and, where FIRDS does not cover the exchange (London, Zurich) or does not record the current listing, from the issuers’ product lists and documents: the “Exchange source” column says so row by row. Each exchange is a single row, with all its markets and segments. Tickers come from the issuers’ product lists and tax documents or, where indicated, from ISIN→exchange mapping under the open FIGI standard (OpenFIGI). Activity on a dark book, an auction or an ancillary platform does not prove a listing on the exchange that operates it. Rebalix mainly covers venues in the European Economic Area, Switzerland and the United Kingdom: when the issuer declares current listings in other jurisdictions too, they appear with their source, outside the ESMA register perimeter. Terminated or cancelled listings are not shown. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker.
DocumentsIn this sectionDocumentsFAQ

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Frequently asked questions

Which index does Invesco Global Active Defensive ESG Equity UCITS ETF Acc track?
The issuer Invesco declares the benchmark: MSCI World Total Return (Net) Index.
How much does LVLC cost?
The issuer-declared TER is 0.25% per year; the transaction costs estimated in the KID are 0.07%.
How is LVLC taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of LVLC?
The fund size declared by Invesco is about 343 million euro.
When was LVLC launched?
The fund was launched on 19 July 2022: it has 4 years of history.
Is LVLC actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (MSCI World Total Return (Net) Index) is a yardstick for comparison, not an index being tracked.
Does LVLC pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does LVLC trade?
Per the official ESMA register (FIRDS) and the issuer’s documents it is listed on 10 exchanges with a ticker available, including Borsa Italiana (ETFplus) (LVLC), Börse Düsseldorf (LVLC), Börse Frankfurt (LVLC), Börse Hamburg (LVLC), Börse Hannover (LVLC), Börse München / gettex (LVLC).
What was LVLC's worst fall?
Over the available history (since 2022), the maximum drawdown was -13.73%, reached in October 2022. Past performance is not indicative of future results.
How many positions does LVLC publish?
The list published by the issuer and archived by Rebalix has 379 rows; the top 10 weigh 19.2%. The issuer does not declare the list as complete: rows are reported as published, weights included, even where a position has zero weight.
Transparency note
The data in this sheet is declared by Invesco in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.
Do you represent the issuer? Report a correction or an update