Core Viewpoint - The Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD) is designed to target U.S. small-cap equities that offer high dividend yields while maintaining low price volatility, utilizing the S&P SmallCap 600 Low Volatility High Dividend Index as its benchmark [1] Group 1: Portfolio Construction Methodology - The underlying index focuses on U.S. small-cap stocks with high indicated dividend yields and low price volatility, sourced from the S&P SmallCap 600 [1] - Eligible stocks must have a positive indicated regular dividend and are selected based on trailing 12-month price volatility during semiannual reviews [1] - The index consists of 60 constituents weighted by indicated annual dividend yield, with individual stock weights capped around 3% and sector weights limited to approximately 25% to manage concentration [1] - The index undergoes reconstitution and rebalancing twice a year, following the third Friday of January and July [1]

Invesco S&P SmallCap Quality ETF (XSHQ US) – Portfolio Construction MethodologyThe underlying S&P SmallCap 600 Quality Index delivers a rules-based subset of 120 securities from the S&P SmallCap 600, selected by highest composite quality score. Each company’s score is the average of three metrics: return on equity (higher better), accruals ratio (lower better), and financial leverage ratio (lower better), computed from recent financials; parent-index liquidity, float and financial-viability screens apply. A ...

Invesco S&P SmallCap Low Volatility ETF (XSLV US) – Portfolio Construction MethodologyThe underlying S&P SmallCap 600 Low Volatility Index delivers the 120 least-volatile members of the S&P SmallCap 600. Eligibility is limited to current S&P SmallCap 600 constituents (committee-maintained U.S. small caps that typically span roughly USD 1–7bn market cap at entry/exit); there are no added sector or thematic screens. Securities are ranked by trailing 12-month price volatility, measured as standard deviation of ...

Core Insights - The Invesco S&P SmallCap Momentum ETF (XSMO US) is based on the S&P SmallCap 600 Momentum Index, which focuses on profitable and liquid U.S. small-cap stocks [1] - The index selects the top 120 securities based on risk-adjusted price momentum, utilizing standardized 6- and 12-month returns with outlier control [1] - Constituents are score-weighted, meaning those with higher momentum scores receive larger weights, while adhering to diversification controls to manage concentration risks [1] - The index undergoes semi-annual reconstitution and rebalancing, typically in June and December, using updated momentum calculations and current S&P 600 membership [1] - The small-cap parent index is maintained by a committee to ensure it reflects U.S. small-caps with sustained profitability, with market-cap guidelines that are below mid-cap and above micro-cap levels [1] Additional Insights - For further analysis of XSMO, an ETF analytics platform is available that provides institutional-grade insights, including performance and risk metrics, correlations, sensitivities, and factor exposure [2]

Core Insights - The WisdomTree Emerging Markets ex-State-Owned Enterprises Index provides broad exposure to emerging markets while excluding state-owned enterprises, defined as those with government ownership exceeding 20% of shares outstanding [1] Group 1: Index Methodology - The index includes major emerging market listing venues, such as Stock Connect A-shares, and is subject to foreign ownership availability [1] - Constituents are float-adjusted and weighted by modified market capitalization [1] - Quarterly capping rules limit any single position from reaching 24% to 20% and restrict the combined weight of constituents above 5% to 40% if that sum exceeds 50% [1] Group 2: Weighting Adjustments - After excluding state-owned enterprises, country weights are scaled back toward pre-exclusion levels with a country factor capped at 3 times [1] - Sector weights are maintained within ±3% of the starting universe [1] - Onshore China exposure is capped at 7.5%, with any excess allocated to H-shares [1] Group 3: Reconstitution - The index undergoes annual reconstitution in October [1]

Group 1 - The SPDR S&P Software & Services ETF (XSW US) targets U.S. companies classified in Application Software, Systems Software, IT Consulting & Other Services, and Interactive Home Entertainment [1] - Eligibility for inclusion in the index requires a float-adjusted market cap of at least USD 500 million and a liquidity ratio of at least 90% over 12 months, with stricter criteria for companies with a market cap between USD 400 million and USD 500 million [1] - The index employs a modified equal-weight scheme with a maximum single-name cap of 4.5% and rebalances quarterly, with membership reviewed at each rebalance [1]

Core Insights - The iShares Exponential Technologies ETF (XT US) targets global companies involved in "exponential" technologies, focusing on those with a free-float market cap greater than USD 300 million and a 3-month average daily trading volume (ADTV) of at least USD 2 million [1] Group 1: Portfolio Construction Methodology - The underlying index prioritizes the top 10 "theme leaders" per theme based on their scores, aiming for a total of 200 constituents through a cross-theme ranking system [1] - The index is float-market-cap weighted with a single-stock cap of 4%, and core exposure to any theme is capped at 25% [1] - At least 90% of the index weight must have a forecasted 5-year revenue exposure of at least 25% to one theme, with annual reconstitution and quarterly rebalancing [1]

Innovator U.S. Equity Accelerated Plus ETF – July (XTJL US) – Portfolio Construction MethodologyThe investment strategy guiding the actively managed Innovator U.S. Equity Accelerated Plus ETF – July is to deliver leveraged U.S. large-cap equity price exposure by holding a portfolio of exchange-traded FLEX Options referencing the SPDR S&P 500 ETF Trust over a one-year July-to-June outcome period. The fund invests at least 80% of net assets in European-style FLEX Options with synchronized expiries, combining ...

Innovator U.S. Equity Accelerated Plus ETF – October (XTOC US) – Portfolio Construction MethodologyThe investment process governing the actively managed Innovator U.S. Equity Accelerated Plus ETF – October is to shape a defined-outcome exposure to U.S. large-cap equities using FLEX Options on the SPDR S&P 500 ETF Trust over an October-to-September outcome period. The fund keeps at least 80% of net assets in European-style FLEX Options, combining in-the-money, at-the-money and out-of-the-money calls and puts ...

Core Viewpoint - The Global X S&P 500 Tail Risk ETF (XTR US) employs a portfolio construction methodology that combines large-cap US equity exposure with a systematic protective-put overlay to manage risk effectively [1] Group 1: Portfolio Construction - The underlying Cboe S&P 500 Tail Risk Index targets large-cap US equity exposure while integrating a long position in the S&P 500 Index portfolio [1] - The strategy includes a long three-month SPX put option that is approximately 10% out-of-the-money, which is adjusted quarterly [1] - Options are settled on the third Friday of March, June, September, and December, with new puts purchased based on the S&P 500 leg's notional exposure [1] Group 2: Index Maintenance - The strike for new puts is chosen as the listed level closest to, but not below, 90% of the index value just before 11:00 a.m. on the settlement day [1] - New S&P 500 additions are incorporated into the index according to the parent index schedule, without additional liquidity or size screens [1] - Index maintenance primarily occurs through the quarterly options roll, allowing the equity sleeve to inherit the S&P 500's ongoing rebalancing [1]