Invesco Utilities S&P US Select Sector UCITS 

This Invesco ETF aims to mirror the net total return of the S&P Select Sector Capped 20% Utilities Index, its benchmark, after accounting for charges. The benchmark focuses on the utilities segment of the S&P 500, with its components weighted by their publicly available market capitalization, subject to an individual limit of 19%; any weight exceeding this threshold is reallocated to other un-capped constituents. The fund employs a dual strategy to achieve its objective. It holds a portfolio of stocks, which primarily generates the fund's returns, though these holdings are typically not identical to those in the benchmark index. To enhance precision and consistency, it also utilizes unfunded swap agreements. Under these contracts, authorized financial institutions compensate the fund for any discrepancy between the returns of the benchmark index and its internal equity basket. This synthetic replication method, leveraging swaps, is designed to ensure a more stable and accurate performance alignment with the Reference Index than physical stock ownership alone could provide. Notably, while the fund's core objective is to track the standard net total return index, the underlying swaps are structured against an optimized version of the index that incorporates enhanced Withholding Tax benefits. Consequently, the ETF's performance, before fees are deducted, is anticipated to exceed that of the standard net return index. This offering is a passively managed, index-tracking fund, meaning an investment represents ownership of units within the fund itself, rather than direct stakes in its underlying assets.