Invesco Aerospace & Defense 

The Invesco Aerospace & Defense ETF (the Fund) is designed to mirror the SPADE Defense Index, typically investing at least 90% of its assets in the common stocks comprising this benchmark. The Index specifically targets companies central to the development, manufacturing, operations, and support within the U.S. defense, homeland security, and aerospace sectors. Both the Fund and its Index undergo quarterly rebalancing and reconstitution. As of August 31, 2025, the Fund boasts an overall 5-star rating from Morningstar Inc., positioning it among the top-performing 46 funds. It consistently earned 5 stars across the 3-, 5-, and 10-year periods, outperforming 46, 42, and 33 funds in those respective categories. Morningstar's rating methodology assesses risk-adjusted returns, factoring in monthly performance variations with a greater emphasis on mitigating downside risk and rewarding consistent results. For comparison, open-end mutual funds and exchange-traded funds are grouped together, and a fund requires a minimum three-year operational history to qualify for a rating. The overall rating is a weighted average of the applicable 3-, 5-, and 10-year metrics, encompassing all fees and expenses but excluding sales charges. This proprietary information, copyrighted by Morningstar Inc. ©2025, and its content providers, is fully reserved. Reproduction or distribution is prohibited, and neither its accuracy, completeness, nor timeliness is guaranteed. Morningstar and its providers disclaim liability for any damages or losses resulting from its use. Investors should note that past performance is not a reliable indicator of future results. Within each category, Morningstar awards 5 stars to the top 10% of funds, 4 stars to the subsequent 22.5%, 3 stars to the middle 35%, 2 stars to the next 22.5%, and 1 star to the bottom 10%. Ratings are subject to monthly revisions. It is important to acknowledge that the Morningstar rating might have been lower had fee waivers or expense reimbursements not been in place, either currently or previously. Additionally, different share classes may exhibit varied performance characteristics, which could lead to distinct ratings.