GSY ETF — Holdings & Analysis

The Invesco Ultra Short Duration ETF (GSY) is an actively managed fixed income ETF with $3.52 billion in assets under management. GSY aims to provide returns exceeding cash equivalents while preserving capital and maintaining daily liquidity. With an expense ratio of 0.22%, GSY invests primarily in ultra-short duration fixed income securities, maintaining an average duration of less than one year, differentiating itself through active management in the short-term fixed income space.

Invesco Ultra Short Duration ETF (GSY) ETF — Price, Holdings & Analysis

ETF Overview

The Invesco Ultra Short Duration ETF (Fund) is an actively managed exchange-traded fund (ETF) that seeks to provide returns in excess of cash equivalents while also seeking to provide preservation of capital and daily liquidity. The Fund will invest at least 80% of its total assets in fixed income securities of varying maturities, but with an average duration of less than one year. As of 08/31/2025 the Fund had an overall rating of 4 stars out of 211 funds and was rated 4 stars out of 211 funds, 3 stars out of 183 funds and 4 stars out of 111 funds for the 3-, 5- and 10- year periods, respectively. Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2025 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.

The Invesco Ultra Short Duration ETF (GSY) is designed for investors seeking higher returns than cash equivalents while prioritizing capital preservation and liquidity. GSY achieves this by investing at least 80% of its assets in fixed income securities with varying maturities, carefully managing the portfolio to maintain an average duration of less than one year. This focus on ultra-short duration aims to minimize interest rate risk. The fund's active management allows for strategic adjustments based on market conditions. A significant portion of the fund, 48.5%, is allocated to Cash & Others, providing liquidity and stability. The fund also has notable allocations to Financial Services (21.7%), Technology (6.0%), and Real Estate (5.4%). Geographically, GSY invests primarily in the United States (42.4%) and also has exposure to Other (45.2%), Canada (5.8%), United Kingdom (2.1%), and Australia (1.0%). This diversified approach seeks to balance risk and return within the ultra-short duration fixed income market.

Risk Metrics

GSY, while designed for capital preservation, still carries inherent risks. The fund's allocation to Financial Services (21.7%) exposes it to sector-specific risks within the financial industry. While the fund's beta of 0.06 indicates low volatility relative to the broader market, it does not eliminate risk entirely. The 0.22% expense ratio, while potentially reasonable, creates a slight drag on performance, especially in a low-yield environment. The significant allocation to 'Cash & Others' (48.5%) can reduce potential returns compared to a fully invested portfolio. Investors should also consider the active management aspect, as the fund's performance is dependent on the manager's skill in navigating the ultra-short duration market. Past performance does not guarantee future results.

Expense Ratio

0.22%

Sector Allocation

Cash & Others: 48.5%
Financial Services: 21.7%
Technology: 6.0%
Real Estate: 5.4%
Consumer Cyclical: 5.4%
Industrials: 4.5%
Energy: 2.5%
Communication Services: 2.2%
Healthcare: 1.9%
Basic Materials: 1.0%
Consumer Defensive: 0.5%
Utilities: 0.5%

Other: 45.2%
United States: 42.4%
Canada: 5.8%
United Kingdom: 2.1%
Australia: 1.0%
Japan: 0.8%
Sweden: 0.8%
France: 0.7%
Netherlands: 0.5%
South Korea: 0.3%

Dividend Yield

0.00%

<a href="/etf/jpib">JPMorgan International Bond Opportunities ETF (JPIB)</a> — 0.50% expense ratio
<a href="/etf/bab">Invesco Taxable Municipal Bond ETF (BAB)</a> — 0.28% expense ratio
<a href="/etf/dyfi">IDX Dynamic Fixed Income ETF (DYFI)</a> — 1.12% expense ratio
<a href="/etf/bmdl">VictoryShares WestEnd Economic Cycle Bond ETF (BMDL)</a> — 0.56% expense ratio
<a href="/etf/myco">State Street My2035 Corporate Bond ETF (MYCO)</a> — 0.15% expense ratio
<a href="/etf/hybi">NEOS Enhanced Income Credit Select ETF (HYBI)</a> — 0.68% expense ratio
<a href="/etf/bltd">Bluemonte Long Term Bond ETF (BLTD)</a> — 0.23% expense ratio
<a href="/etf/binc">iShares Flexible Income Active ETF (BINC)</a> — 0.52% expense ratio

<a href="/etf/pfm">Invesco Dividend Achievers ETF (PFM)</a> (Equity) — 0.52% ER
<a href="/etf/rspe">Invesco ESG S&P 500 Equal Weight ETF (RSPE)</a> (Equity) — 0.20% ER
<a href="/etf/bab">Invesco Taxable Municipal Bond ETF (BAB)</a> (Fixed Income) — 0.28% ER
<a href="/etf/blkc">Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC)</a> (Equity) — 0.60% ER
<a href="/etf/psmm">Invesco Moderately Conservative Multi-Asset Allocation ETF (PSMM)</a> (Equity) — 0.35% ER
<a href="/etf/omfs">Invesco Russell 2000 Dynamic Multifactor ETF (OMFS)</a> (Equity) — 0.39% ER

Risk Metrics

Beta: 0.06

Questions & Answers

What is GSY and what does it track?

The Invesco Ultra Short Duration ETF (GSY) is an actively managed exchange-traded fund that aims to provide returns exceeding cash equivalents while prioritizing capital preservation and daily liquidity. GSY invests primarily in fixed income securities of varying maturities, but maintains an average duration of less than one year. The fund's investment strategy involves actively selecting securities and adjusting the portfolio based on market conditions to achieve its objectives. As of the end of August 2025, GSY had a 4-star overall rating from Morningstar, reflecting its risk-adjusted performance relative to its peers.

What is the expense ratio for GSY?

The expense ratio for the Invesco Ultra Short Duration ETF (GSY) is 0.22%. This means that for every $10,000 invested in the fund, $22 is used to cover annual operating expenses. While expense ratios vary across fixed income ETFs, the 0.22% is lower than the category average. It is important to consider the expense ratio as it directly impacts the overall return on investment, especially in a low-yield environment.

What are the top holdings in GSY?

As an actively managed fund, GSY's holdings are subject to change. While a full list of holdings is available from Invesco, the fund's sector allocation provides insight into its top exposures. As of the latest data, the largest sector allocation is to Cash & Others at 48.5%, followed by Financial Services at 21.7%. Technology makes up 6.0% of the portfolio, with Real Estate and Consumer Cyclical both at 5.4%. These allocations provide a general understanding of the fund's investment focus.

Is GSY a good long-term investment?

Whether GSY is a suitable long-term investment depends on an individual investor's specific goals and risk tolerance. GSY's focus on ultra-short duration fixed income makes it a relatively conservative option, prioritizing capital preservation over high returns. The fund's low beta of 0.06 suggests it is less volatile than the overall market. Investors seeking stable returns and a hedge against interest rate risk may find GSY appealing. Past performance does not guarantee future results, and investors should carefully consider their own circumstances before investing.

How does GSY compare to similar ETFs?

GSY differentiates itself from other ultra-short duration ETFs primarily through its active management strategy. While many similar ETFs passively track an index, GSY's managers actively select securities and adjust the portfolio. With AUM of $3.52 billion, GSY is a sizable player in the ultra-short duration space. Its expense ratio of 0.22% is competitive. Investors should compare GSY's performance and strategy to other actively and passively managed ultra-short duration ETFs to determine the best fit for their needs.

Does GSY pay dividends?

According to the latest available data, the Invesco Ultra Short Duration ETF (GSY) has a dividend yield of 0.00%. This indicates that the fund is not currently distributing dividends to its shareholders. While the fund invests in fixed income securities, the focus on ultra-short duration and capital preservation may result in a lower emphasis on dividend income compared to other fixed income ETFs with longer durations or different investment strategies.