Invesco International Developed Dynamic Multifactor ETF(CBOE:IMFL)

IMFL tracks an index that utilizes a multi-factor strategy and aims to invest in securities based on the current stage of the economic cycle. Construction of the index starts by assigning a multi-factor score to each security in the parent index, based on five individual factors: low volatility, momentum, quality, size and value. All securities are scored within each factor and all five scores are combined to determine a securitys multi-factor score. The index then selects those securities with factors it believes have historically outperformed other factors in certain stages of the economic cycle. For example, the index might emphasize exposure to equity securities that exhibit size and value factors during the recovery stage, size, value and momentum factors during the expansion stage, etc. A securitys initial weight is based on its multi-factor score and weight in the parent index, capped at 5% for each security.