Invesco Indexing LLC (“Invesco Indexing”) is issuing this notification regarding a change in the Benchmark Administrator for the following indices:
- Invesco BulletShares Municipal Bond 2026-2036 Indexes (IIBSMBQ; IIBSMBR; IIBSMBS; IIBSMBT; IIBSMBU; IIBSMBV; IIBSMBW; IIBSMBX; IIBSMBY; IIBSMBZ; IIBSMBAA)
- Invesco BulletShares USD Corporate Bond 2026-2036 Indexes (BSCBQ; BSCBR; BSCBS; BSCBT; BSCBU; BSCBV; BSCBW; BSCBX; BSCBY; BSCBZ; BSCBAA)
- Invesco BulletShares USD High Yield 2026-2036 Indexes (BSJKQ; BSJKR; BSJKS; BSJKT; BSJKU; BSJKV; BSJKW; BSJKX; BSJKY; BSJKZ; BSJKAA)
- Invesco Indexing Investment Grade Defensive Index (IIIGD)
- Invesco JGB Index (IIJGBY)
- Invesco Developed Markets ex-Japan Sovereign Bond Index (IIDKSB; IIDKSBHY)
- Invesco USD Broad Emerging Markets Government Bond Index (IIBEGB; IIBEGBY)
Effective August 31, 2026, benchmark administration and publication of these indices will transition from Invesco Indexing to ICE Data Indices, LLC (“ICE Data Indices”).
From the transition date, ICE Data Indices, will assume responsibility for the ongoing administration, governance, calculation oversight, and daily publication of the indices. The index methodology will remain materially unchanged as a result of this transition. Index ticker codes and existing identifiers across major data distributors will also remain unchanged.
The following other methodology changes will occur as a result of the transition from Invesco Indexing to ICE Data Indices:
- Pricing will change from mid pricing to bid pricing;
- Transaction costs will be included in the return calculation;
- The monthly rebalancing lock-out period will change from 6 days to 3 days;
- Bonds must have at least 18 months to maturity at point of issue to qualify for selection in the index;
- Bonds maturing in BulletShares indexes will be allocated to cash instead of reallocated across remaining bonds;
- Cash will earn a reinvestment return associated with an ICE Index rather than reinvested directly into a specific security;
- Unless otherwise described within the specific index methodology, the rating methodology used will be the ICE Data Indices’ Composite rating.
Additionally, indexes will be renamed as follows:
- ICE Bulletshares Municipal Bond 2026-2036 Indexes (IIBSMBQ; IIBSMBR; IIBSMBS; IIBSMBT; IIBSMBU; IIBSMBV; IIBSMBW; IIBSMBX; IIBSMBY; IIBSMBZ; IIBSMBAA)
- ICE BulletShares USD Corporate Bond 2026-2036 Indexes (BSCBQ; BSCBR; BSCBS; BSCBT; BSCBU; BSCBV; BSCBW; BSCBX; BSCBY; BSCBZ; BSCBAA)
- ICE BulletShares USD High Yield 2026-2036 Indexes (BSJKQ; BSJKR; BSJKS; BSJKT; BSJKU; BSJKV; BSJKW; BSJKX; BSJKY; BSJKZ; BSJKAA)
- ICE Investment Grade Defensive Index (IIIGD)
- ICE JGB Index (IIJGBY)
- ICE Developed Markets ex-Japan Sovereign Bond Index (IIDKSB; IIDKSBHY)
- ICE USD Broad Emerging Markets Government Bond Index (IIBEGB; IIBEGBY)
Stakeholders with questions regarding this transition may contact: