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Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison
🇮🇹 Effective capital-gains rate: 26.00%(transitional: recently launched fund)details →

Invesco US Enhanced Equity UCITS ETF EUR Hdg AccIndex, costs, backtest, listings and taxation

ISIN: IE000WN3JW15Ticker: IQUEIssuer: InvescoClass: EUR Hdg Acc
ETF launched on 7 July 2026 — page still filling up

What you see is what the issuer has declared so far. The rest comes with time, not by our choice: each row appears on its own as soon as the data exists.

Tracking differenceafter the first full calendar year, from January 2028
Dividendsnot applicable: accumulating share class
Issuer-declared data
Declared index
S&P 500® Total Return (Net) Index
TER
0.21%
Transaction costs
0.04% (issuer estimate, from the KID)
Management
Active management
Replication
Active
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
154.1 mln EUR
NAV
5.09 EUR (1 September 2026)
Domicile
Ireland
Inception date
7 July 2026
Data as declared by Invesco in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Invesco US Enhanced Equity UCITS ETF EUR Hdg Acc is an actively managed ETF: it does not track an index — the declared index (S&P 500® Total Return (Net) Index) is a comparison yardstick only. The declared annual cost (TER) is 0.21%, plus 0.04% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 154 million euro, was launched on 7 July 2026 and is domiciled in Ireland. In our registry 2 other ETFs declare the same index.

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

Dividend Policy: This Share Class does not pay you income, but instead reinvests it to grow your capital, in line with its stated objectives. Investment objective: The objective of the Fund is to achieve a long-term return in excess of the Benchmark (the S&P 500 Index) by investing in an actively managed portfolio of US equities.

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: The Fund is an actively managed ETF. To achieve the investment objective, the Fund will invest primarily in a portfolio of equity and equity-related securities, tracking stocks and depositary receipts of companies from the United States of America. Securities are selected based on two criteria: 1) attractiveness determined in accordance with the quantitative investment model; and 2) consistency between the portfolio’s expected risk characteristics and the Fund’s investment objective. Eligible securities are ranked based on their attractiveness with respect to three investment factors: Value (i.e. companies perceived to be ‘inexpensive’ relative to market averages), Quality (i.e. companies that demonstrate stronger balance sheets relative to sector or market averages) and Momentum (i.e. companies whose historical share price performance or earnings growth have exceeded sector or market averages). The Fund holds a sub-set of these stocks, using an optimisation process that seeks to maximise exposure to those investment factors whilst targeting a risk profile that is consistent with the Fund’s investment objective. Fund holdings are rebalanced monthly. The Fund will not seek to track the performance of the Benchmark. The Fund will hold an actively-managed portfolio of securities with the aim of delivering superior risk-adjusted returns over the long term when compared with the average performance of the US equity market, for which the Benchmark serves as a reference. 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 · 14 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

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.

Fund performance

issuer-declared net asset value (NAV) · EUR · from Jul 2026 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+3.5%
Volatility (ann.)
11.4%
Max drawdown
-3.01%
-5%-2%+1%+4%+7%Jul 2026Jul 2026Aug 2026Aug 2026Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+4%Jul 2026Sept 2026
Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. Comparison sites using the exchange price may show returns and volatility that differ by 1–2 points: on hedged classes the price-vs-NAV gap is structurally wider and grows with the length of the window. Not a data error — a measurement convention. Details in the methodology.
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%-1%-2%-3%-4%2026−3.01% · 29 Jul 2026
Max drawdown
-3.01%
peak → trough
Trough
29 Jul 2026
from the 15 Jul 2026 peak
Recovery time
5 days
recovery only: trough to break-even
Underwater
19 days
decline + recovery: peak to break-even · → recovered on 03 Aug 2026

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
15 Jul 202629 Jul 2026-3.01%03 Aug 202619
13 Aug 202601 Sept 2026-2.15%ongoing21
10 Jul 202613 Jul 2026-0.79%15 Jul 20265
07 Aug 202611 Aug 2026-0.43%13 Aug 20266
04 Aug 202606 Aug 2026-0.42%07 Aug 20263
Source: Invesco. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 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.

Portfolio holdings

Securities in portfolio
259
Top-10 weight
38.1%

Top 10 holdings

NVIDIA CORP USD0.001
8.02%
APPLE INC USD0.00001
7.43%
MICROSOFT CORP USD0.00000625
5.54%
ALPHABET INC-CL A USD0.001
4.19%
AMAZON.COM INC USD0.01
3.80%
BROADCOM INC NPV
2.54%
Meta Platforms INC USD0.000006
1.94%
MICRON TECHNOLOGY INC USD0.1
1.80%
TESLA INC USD0.001
1.42%
BERKSHIRE HATHAWAY INC-CL B USD0.0033
1.41%
Download the full portfolio — Excel, 259 rows
Full portfolio declared by Invesco, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

ETFs declaring the same index

FundTERIncomeFund size
SPXD · Invesco · 2 classes
0.05%Dist. · Acc.50.7 mld EUR
IQUA · Invescoactive
0.16%Acc.179 mln EUR
3 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 by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Italian taxation

Effective rate on capital gains
26.00%
White-list share
not applicable
Equity fund per the issuer-declared asset class: it cannot hold «white list» government bonds, so capital gains are taxed at the full 26% Italian rate. That is why the issuer publishes no semi-annual certificate.
Deep-dive into this fund’s taxation →

Stock exchange listings

ExchangeTickerTrading since
Börse FrankfurtIQUE10 Jul 2026
Börse München / gettexIQUE20 Aug 2026
Börse StuttgartIQUE27 Jul 2026
Tradegate ExchangeIQUE17 Jul 2026
Xetra (Deutsche Börse)IQUE10 Jul 2026
+ 6 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Invesco US Enhanced Equity UCITS ETF EUR Hdg Acc track?
The issuer Invesco declares the benchmark: S&P 500® Total Return (Net) Index.
How much does IQUE cost?
The issuer-declared TER is 0.21% per year; the transaction costs estimated in the KID are 0.04%.
What is the fund size of IQUE?
The fund size declared by Invesco is about 154 million euro.
When was IQUE launched?
The fund was launched on 7 July 2026: it has been trading for 59 days: the page fills up as the issuer publishes data.
Is IQUE actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (S&P 500® Total Return (Net) Index) is a yardstick for comparison, not an index being tracked.
Does IQUE pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does IQUE trade?
Per the official ESMA register it trades on 5 main exchanges, including Börse Frankfurt (IQUE), Börse München / gettex (IQUE), Börse Stuttgart (IQUE), Tradegate Exchange (IQUE), Xetra (Deutsche Börse) (IQUE).
What was IQUE's worst fall?
Over the available history (since 2026), the maximum drawdown was -3.01%, reached in July 2026. Past performance is not indicative of future results.
How many securities does IQUE hold?
The declared portfolio holds 259 securities; the top 10 positions weigh 38.1%.
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.