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Indexes & ETFs

Accurate, transparent, sector-specific tracking for today’s investors.

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Indexes & ETFs

Overview

KBW has the most widely quoted bank index in the country (BKX).

The KBW Nasdaq family of indexes and KBW Exchange-Traded Funds (ETFs) provide investors with a method to track the performance of the banking, broker-dealer, asset management, insurance, FinTech, and equity REITs sectors within the financial services industry.

Our indexes include publicly-traded companies, and the components are generally chosen on the basis of relevance to the particular market sector and various trading criteria. Our ETFs are based on a specific index and track the performance of that index by holding in its portfolio either the securities replicating the index or a representative sample of the securities in the index. The table below shows the KBW Nasdaq family of indexes and ETFs. Click on an index or ETF symbol below for additional information.

KBW and Nasdaq maintain and publish analyses on the KBW Nasdaq family of indexes. These indexes are intended to provide industry benchmarks for the specific sectors within the financial industry.

The KBW Nasdaq family of indexes currently includes one global financial index and eight U.S. financial sector indexes. The financial sector indexes serve as the basis for a family of ETFs through our partnership with INVESCO. From time to time, our trading desk may act as a market maker in these ETFs.

Please click here to see press releases related to the KBW Nasdaq indexes.

KBW Nasdaq Indexes & ETFs

Index Symbol Index Name ETF Symbol ETF Name Methodology

BKX

The KBW Nasdaq Bank Index is a modified market capitalization weighted index designed to track the performance of leading banks and thrifts that are publicly traded in the U.S. The Index includes banking stocks representing large U.S. national money centers, regional banks and thrift institutions.

Index compilation, maintenance, and calculation are the responsibility of Nasdaq and Keefe, Bruyette & Woods, Inc.

Index holdings are subject to change. An investor cannot invest directly in an index.

Click here for the Index methodology.

KBW Nasdaq Bank Index KBWB Invesco KBW Bank ETF Modified Market-Cap Weighted

KSX

The KBW Nasdaq Capital Markets Index is a modified market capitalization weighted index designed to track the performance of companies that conduct business as broker-dealers, asset managers, trust & custody banks, or exchanges that are publicly traded in the U.S.

Index compilation, maintenance, and calculation are the responsibility of Nasdaq and Keefe, Bruyette & Woods, Inc.

Index holdings are subject to change. An investor cannot invest directly in an index.

Click here for the Index methodology.

KBW Nasdaq Capital Markets Index N/A N/A Modified Market-Cap Weighted

KDX

The KBW Nasdaq Financial Sector Dividend Yield Index is a dividend yield weighted index designed to track the performance of financial companies that are publicly traded in the U.S. with competitive dividend yields. The Index includes companies principally engaged in the business of providing financial services and products.

Index compilation, maintenance, and calculation are the responsibility of Nasdaq and Keefe, Bruyette & Woods, Inc.

Index holdings are subject to change. An investor cannot invest directly in an index.

Click here for the Index methodology.

KBW Nasdaq Financial Sector Dividend Yield Index KBWD Invesco KBW High Dividend Yield Financial ETF Modified Yield Weighted

KFTX

The KBW Nasdaq Financial Technology Index is an equal weighted index designed to track the performance of U.S. companies that leverage technology to deliver financial products and services, using nearly exclusively electronic distribution, with limited to no 'bricks and mortar,' and derive the bulk of their revenue from fee-based sources.

Index compilation, maintenance, and calculation are the responsibility of Nasdaq and Keefe, Bruyette & Woods, Inc.

Index holdings are subject to change. An investor cannot invest directly in an index.

Click here for the Index methodology.

KBW Nasdaq Bank Index FTEK LN Invesco KBW NASDAQ FinTech UCITS ETF Acc Equal Weighted

GBKX

The KBW Nasdaq Global Bank Index is designed to track the performance of leading banks that have been classified as Globally Systematically Important by the Basel Committee. The Index is comprised of those banks that are publicly traded on global-eligible exchanges and equally weighted.

Index compilation, maintenance, and calculation are the responsibility of Nasdaq and Keefe, Bruyette & Woods, Inc.

Index holdings are subject to change. An investor cannot invest directly in an index.

Click here for the Index methodology.

KBW Nasdaq Global Bank Index N/A N/A Equal Weighted

KIX

The KBW Nasdaq Insurance Index is a modified market capitalization weighted index designed to track the performance of U.S. companies in the insurance industry that are publicly traded in the U.S.

Index compilation, maintenance, and calculation are the responsibility of Nasdaq and Keefe, Bruyette & Woods, Inc.

Index holdings are subject to change. An investor cannot invest directly in an index.

Click here for the Index methodology.

KBW Nasdaq Insurance Index N/A N/A Modified Market-Cap Weighted

KYX

The KBW Nasdaq Premium Yield Equity REIT Index is a modified dividend yield weighted index designed to track the performance of domestic equity REITs that are publicly traded in the U.S. with competitive dividend yields.

Index compilation, maintenance, and calculation are the responsibility of Nasdaq and Keefe, Bruyette & Woods, Inc.

Index holdings are subject to change. An investor cannot invest directly in an index.

Click here for the Index methodology.

KBW Nasdaq Premium Yield Eq. REIT Index KBWY Invesco KBW Premium Yield Equity REIT ETF Modified Yield Weighted

KPX

The KBW Nasdaq Property & Casualty Index is a modified market capitalization weighted index designed to reflect the performance of U.S. property & casualty insurance companies that are publicly traded in the U.S.

Index compilation, maintenance, and calculation are the responsibility of Nasdaq and Keefe, Bruyette & Woods, Inc.

Index holdings are subject to change. An investor cannot invest directly in an index.

Click here for the Index methodology.

KBW Nasdaq Property & Casualty Insurance Index KBWP Invesco KBW Property & Casualty Insurance ETF Modified Market-Cap Weighted

KRX

The KBW Nasdaq Regional Banking Index is a modified market capitalization weighted index designed to track the performance of U.S. regional banks or thrifts that are publicly traded in the U.S.

Index compilation, maintenance, and calculation are the responsibility of Nasdaq and Keefe, Bruyette & Woods, Inc.

Index holdings are subject to change. An investor cannot invest directly in an index.

Click here for the Index methodology.

KBW Nasdaq Regional Banking Index KBWR Invesco KBW Regional Banking ETF Modified Market-Cap Weighted

Note: Not all of the listed securities may be suitable for retail investors; in addition, not all of the listed securities may be available to U.S. investors. European investors interested in FTEK LN can contact Invesco at https://etf.invesco.com/gb/private/en/product/invesco-kbw-nasdaq-fintech-ucits-etf-acc/trading-information. U.S. investors cannot buy or hold FTEK LN.

  • An investor cannot invest directly in an index.
  • N/A - There is no ETF associated with this index.
  • Please note that, prior to 25 May 2018, the name of this product was Source KBW NASDAQ FinTech UCITS ETF. This change has no bearing on the investment objective or any other aspect of the product

Performance

The total return performance for the KBW Nasdaq Indexes is provided for informational purposes in the table below. Please note, past performance is not indicative of future results.

For further information on KBW Nasdaq Indexes, please e-mail index@kbw.com.

Rolling Total Return (%)*

As of 09-25-2020

Annualized Total Return (%)**

As of 12-31-2019

Symbol Index Name 1-Day QTD YTD 1-Year 3-Year 5-Year 10-Year
Global
GBKX KBW Nasdaq Global Bank Index -0.54 -9.13 -31.04 21.7 3.9 1.9 1.6
US
BKX KBW Nasdaq Bank Index 0.30 -5.26 -36.45 36.1 9.9 11.4 12.5
KRX KBW Nasdaq Regional Banking Index 0.54 -13.54 -40.95 23.8 1.3 8.9 11.5
KIX KBW Nasdaq Insurance Index -0.31 0.71 -20.12 36.3 12.7 12.4 15.6
KPX KBW Nasdaq Property & Casualty Index 0.49 -1.68 -21.29 28.1 11.2 13.5 15.3
KSX KBW Nasdaq Capital Markets Index 0.59 -0.84 -11.88 25.3 10.4 8.9 9.8
KYX KBW Nasdaq Premium Yield Equity REIT Index 1.32 -10.07 -41.78 23.9 1.0 4.8 11.3
KDX KBW Nasdaq Financial Sector Dividend Yield Index -0.32 -2.96 -36.01 20.7 7.1 6.0 10.2
KFTX KBW Nasdaq Financial Technology Index 0.08 -0.09 -0.87 36.0 23.4 18.9 21.1

Source: Bloomberg.

*The total return over a time period has two components - price appreciation and dividend return.

** The process of annualization is done to convert the holding period return over a given length into a rate that reflects the rate on an annual (yearly) basis.

KBW Nasdaq Indexes & ETFs Disclosures

The following indexes: U.S.: KBW Nasdaq Bank Index (BKX), KBW Nasdaq Insurance Index (KIX), KBW Nasdaq Capital Markets Index (KSX), KBW Nasdaq Regional Banking Index (KRX), KBW Nasdaq Property & Casualty Index (KPX), KBW Nasdaq Financial Technology Index (KFTX), KBW Nasdaq Premium Yield Equity REIT Index (KYX); KBW Nasdaq Financial Sector Dividend Yield Index (KDX); and Global: KBW Nasdaq Global Bank Index (GBKX), are the property of KBW and Nasdaq.

KBW and Nasdaq do not guarantee the accuracy and/or completeness of the indexes, make no express or implied warranties with respect to the indexes and shall have no liability for any damages, claims, losses, or expenses caused by errors in the index calculation. KBW and Nasdaq make no representation regarding the advisability of investing in options on the Index. Past performance is not necessarily indicative of future results.

ETFs-Important Disclosures: The shares ('Shares') of ETFs are not sponsored, endorsed, sold, or promoted by KBW. KBW makes no representation or warranty, express or implied, to the owners of the Shares or any member of the public regarding the advisability of investing in securities generally or in the Shares particularly or the ability of its Indexes to track general stock market performance. The only relationship of KBW to Invesco Capital Management LLC is the licensing of certain trademarks and trade names of KBW and its Indexes which are determined, composed, and calculated by KBW without regard to Invesco Capital Management LLC, the fund, or the Shares. Additionally, KBW and The NASDAQ OMX Group, Inc. ('Nasdaq') are parties to an agreement (the 'Nasdaq Agreement') whereby KBW has given Nasdaq the power and authority to license certain trademarks and trade names of KBW and its Indexes, including Invesco UK Services Limited and potential future Licensees. KBW has no obligation to take the needs of Invesco Capital Management LLC or any other current or future Licensee or the owners of the shares into consideration in determining, composing, or calculating the Indexes. KBW is not responsible for and has not participated in any determination or calculation made with respect to issuance or redemption of the Shares. KBW has no obligation or liability in connection with the administration, marketing, or trading of the Shares.

Compensation. KBW and Invesco Capital Management LLC are parties to an index licensing agreement wherein KBW licenses its Indexes to Invesco Capital Management LLC and KBW receives as compensation payments based on the amount of assets under management in the ETFs (which the licensed Indexes underlie) and which may be recommended in this report. Pursuant to the Nasdaq Agreement, KBW similarly receives as compensation payments based on the amount of assets under management in any Licensee ETFs (which the licensed Indexes underlie) and which may or may not also be recommended in this report.

ETF and Index Reports. The author of index and related ETF reports is the Director of KBW´s Research Department, who is also the head of the KBW Index Committee. This Index Committee selects index components for the indexes upon which the recommended ETFs are based.

ETF Risks. There are risks involved with investing in ETFs, including possible loss of money. ETFs may not always trade or price as expected. Generally, security classifications used in calculating allocation tables are as of the last trading day of the previous month. ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Diversification does not ensure a profit and may not protect against loss in declining markets. Investors should refer to the individual ETF prospectus for a more detailed discussion of the specific risks and considerations for an individual ETF.

Investing in a single sector may be subject to more volatility than funds investing in a diverse group of sectors. Brokerage commissions and ETF expenses will reduce returns. In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETFs may be bought and sold on the exchange through any brokerage account, ETFs are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only, please see the prospectus (link below) for more details. Shares are not actively managed and are subject to risks including those regarding short selling and margin maintenance requirements. Past performance is not necessarily indicative of future results.

An investor should consider the Funds´ investment objectives, risks, charges and expenses carefully before investing. This and other information can be found in their prospectuses. Not all ETFs may be suitable for retail investors. Individual ETFs may not be available for sale in all jurisdictions. For this and more complete information about the U.S. Funds, call Invesco at 1-800-983-0903 or visit https://www.invesco.com/ETFs for a prospectus. For more complete information about the non-U.S. Funds, investors should contact Invesco at https://etf.invesco.com/gb/private/en/product/invesco-kbw-nasdaq-fintech-ucits-etf-acc/trading-information for a prospectus. The prospectus should be read carefully before investing.

Shares of the ETFs funds are not guaranteed or insured by the FDIC or by another governmental agency; they are not obligations of the FDIC nor are they deposits or obligations of or guaranteed by KBW or Invesco Capital Management LLC. ETFs are distributed by Invesco Distributors, Inc. the distributor of the Invesco Exchange-Traded Fund Trust II.

This communication is not an offer to sell or a solicitation to buy the securities mentioned. The information relating to any company herein is derived from publicly available sources and Keefe, Bruyette & Woods, Inc. makes no representation as to the accuracy or completeness of such information.

Performance Disclosures

The following indexes: U.S.: KBW Nasdaq Bank Index (BKX), KBW Nasdaq Insurance Index (KIX), KBW Nasdaq Capital Markets Index (KSX), KBW Nasdaq Regional Banking Index (KRX), KBW Nasdaq Property & Casualty Index (KPX), KBW Nasdaq Financial Technology Index (KFTX), KBW Nasdaq Premium Yield Equity REIT Index (KYX); KBW Nasdaq Financial Sector Dividend Yield Index (KDX) and Global: KBW Nasdaq Global Bank Index (GBKX) are the property of Keefe, Bruyette & Woods, Inc. (KBW) and Nasdaq.

KBW and Nasdaq do not guarantee the accuracy and/or completeness of the Indexes, makes no express or implied warranties with respect to the Indexes and shall have no liability for any damages, claims, losses or expenses caused by errors in the index calculation. KBW and Nasdaq make no representation regarding the advisability of investing in options on the Index.

This communication is not an offer to sell or a solicitation to buy the securities mentioned. The information relating to any company herein is derived from publicly available sources and Keefe, Bruyette & Woods, Inc. makes no representation as to the accuracy or completeness of such information.

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