"Invesco US High Yield Fallen Angels UCITS ETF Dist" is an exchange-traded investment fund (ETF). It refers to the Citi Time-Weighted US Fallen Angel Bond Select Index. This index reflects the development of US American corporate bonds . The ETF replicates its index using physical replication with sampling, so it contains the most important securities of its reference index. The ETF's earnings (interest payments) are distributed to the investors. The fund company Invesco claims a total expense ratio (TER) of 0.45% per year. The yearly average divergence from the index performance (Tracking Difference) since 2017 was 1.75% per year. Therefore, the ETF was significantly more expensive than the TER suggests.