Invesco Materials S&P US Select Sector UCITS . 

This Invesco Exchange Traded Fund (ETF) seeks to deliver the total net return performance of its benchmark, the S&P Select Sector Capped 20% Materials Index, after accounting for all applicable charges. This Reference Index comprises companies from the materials sector of the S&P 500 Index. Constituents are weighted based on their float-adjusted market capitalization, with an individual cap of 19%; any weight exceeding this threshold is redistributed among other uncapped holdings. To achieve its goal, the fund primarily invests in a diversified portfolio of equities, which, while generating the bulk of its returns, typically does not precisely mirror the underlying index's components. Additionally, it utilizes unfunded swap agreements with pre-approved counterparties. These contracts facilitate an exchange of any difference between the returns of the Reference Index and the fund's equity basket, thereby enabling a more accurate and consistent alignment with the index's performance than could be achieved through direct physical asset replication alone. While the fund's formal investment objective is to track the standard net total return index, its swap agreements are structured to reference an optimized version of the index for withholding tax purposes. Consequently, the ETF's performance, prior to the deduction of fees, is anticipated to outperform that of the conventional net return index. As a passively managed, index-tracking vehicle, an investment in this fund signifies the acquisition of its units, rather than direct ownership of the underlying assets held within its portfolio.