February 2020 Index Methodology Review of Nasdaq BulletShares® USD High Yield Corporate Bond Indexes and Invesco BulletShares® Municipal Bond Indexes

Invesco Indexing has recently completed a methodology review of the Nasdaq BulletShares® USD High Yield Corporate Bond Indexes and Invesco BulletShares® Municipal Bond Indexes. Through this exercise, the team considers index methodology updates that have the potential to enhance the indexes’ overall representativeness and consistency with expected exposures and outcomes. Invesco Indexing is suggesting one non-material change each to the Nasdaq BulletShares® USD High Yield Corporate Bond Indexes methodology and to the Invesco BulletShares® Municipal Bond methodology. The details for the proposed changes can be found here. Invesco Indexing encourages feedback on the proposed change by contacting the team at IndexSupport@invesco.com. Consideration of insights from a range of stakeholders is expected to ensure that the index continues to seek to deliver the expected market exposure and outcomes through a clear, thoughtful, and transparent index construction methodology. Invesco Indexing welcomes feedback from clients through March 14, 2020, at which time the team will publish their conclusions.