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Global ETF Survey 2026
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AT1S ETF · Invesco AT1 Capital Bond UCITS ETF
The AT1S Exchange Traded Fund (ETF) is provided by Invesco. It is built to track an index: Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) Index. The AT1S ETF provides physical exposure, so by buying it you actually own parts of all the 92 underlying holdings. This share class generates a stream of income by distributing dividends.
Share class
Dist
GBP
Hedged
Real-time data unavailable for AT1S
LIVE
CLOSED
This fund is part ofConvertible Bonds1M perf.-0.72%
Last price
N/A
1M perf.
-0.45%
1M flows
-€751K
AuM
€44M
TER
0.39%
Rating
Not rated
ESG Consensus®
AT1S
N/A
Performance & flows
Segment for quartile rank
March 9, 2026 → June 8, 2026
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AT1S
£35.33
+1.25%
Convertible Bonds
+5.60%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | -0.45%  | +1.25%  | +7.54% | +34.45%  | +11.40% | -0.39% | +2.51% | +1.16%  | |
| Flows |
Key fund info
Segment for quartile rank
Main characteristics
More details
NAV
6/8/2026
£35.38
1D NAV change
-0.11%
Dividend policy
Replication method
Direct (Physical)
Replication model
Full replication
No. of holdings
92
Inception date
9/25/2018
Jurisdiction
Ireland
Distribution
Norway
Luxembourg
Netherlands
France
United Kingdom
Legal structure
Open-end Investment Company
Base currency
GBP
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Product type
Asset class
Factors
N/A
Share class info
GBP distributing hedged
Total AuM of fund
€1.44B
Decimalisation of shares
No
Investment strategy
The Invesco AT1 Capital Bond UCITS ETF aims to provide the performance of the Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8/5% Issuer Cap), after the impact of fees. The index is a customized version of the iBoxx USD Contingent Convertible Liquid Developed Market AT1 index in which the weight of the top 5 issuers is capped at 8% and the remaining issuers are capped at 5%. It is designed to reflect the performance of financial institutions' AT1 contingent convertible debt, it aims to offer a broad coverage of the USD AT1 capital bond universe, whilst upholding minimum standards of investability and liquidity.
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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Risk profile
Segment for quartile rank
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +1.25% | +7.54% | +34.45% | +11.40% |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
1
2
3
4
5
6
7
PRIIPS
1
2
3
4
5
6
7
More exposure metrics are available, exclusively in Trackinsight Enterprise
Exposure
Countries
United Kingdom
27.96%
France
17.31%
USA
16.06%
Spain
12.49%
Switzerland
5.96%
Netherlands
5.73%
Japan
4.49%
Australia
3.24%
Unavailable
1.13%
Other
5.62%
Sectors
Banks
74.59%
Holding companies
8.22%
Unavailable
17.19%
Diversification
Total weight of top 15 holdings out of 92
Top 15 holdings
Data as of April 30, 2026
Barclays, 8% perp., USD
Banco Santander, 8% perp., USD
Banco Santander, 9.625% perp., USD
Barclays, 9.625% perp., USD
Deutsche Bank, 6.25% perp., USD
Lloyds Banking Group, 8% perp., USD
USF2280BAC03
Sumitomo Mitsui FG, 6.45% perp., USD
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Banco Santander, 9.625% perp., USD
Credit Agricole SA, 6.7% perp., USD
Barclays, 7.625% perp., USD
Westpac Banking (New Zealand Branch), 5% perp., USD
Credit Agricole CIB, 4.75% perp., USD
Barclays, 4.375% perp., USD
Standard Chartered Plc, 4.3% perp., USD
Create a free account to view top holdings
More risk metrics are available, exclusively in Trackinsight Enterprise
Sustainability
Integrates ESG criteria
Yes
SDG
ESG Consensus® by Conser
Data as of March 31, 2026
MethodologyOur partner Conser gathers the industry's consensus on the business practices of the underlying holdings. We have computed the following metrics about AT1S ETF's sustainability, based on their methodology.
ESG Consensus®
ESG Consensus® is based on the Final Sustainability Grade, which itself consists of 10 grades. Our partner Conser calculates the exact grade, based on market intelligence, using their proprietary ESG Consensus® methodology.
AT1S’s has a Final Sustainability Grade of either C+, C, C-, or D.
A+
A
A-
B+
B
B-
C+
C
C-
D
This fund’s exact Final Sustainability Grade is available in Trackinsight Enterprise.
Learn more about Trackinsight EnterpriseHoldings review
61.67% of holdings have positive scoring
38.34% of holdings have negative scoring
32.38%
29.28%
17.27%
21.07%
Consensus levels
Strong
Medium
Weak
More sustainability metrics are available, exclusively in Trackinsight Enterprise
Issuer
Invesco
Invesco ID Card
Number of funds
638
Total AuM
€991.97B
Expense ratio range
0.04% - 5.39%
Average expense ratio
0.3544%
Top 5 funds by Invesco
| AuM | ||
|---|---|---|
QQQ | Invesco QQQ ETF | €409.93B |
QQQM | Invesco NASDAQ 100 ETF | €82.84B |
RSP | Invesco S&P 500® Equal Weight ETF | €77.84B |
SPXS | Invesco S&P 500 UCITS ETF | €34.24B |
SGLD | Invesco Physical Gold USD ETC | €24.26B |
Frequently asked questions about AT1S
What does Invesco AT1 Capital Bond UCITS ETF, AT1S, invest in?
AT1S is a Passive ETF. This ETF provides exposure to Developed markets Financial Services Mixed Ratings Corporate Bonds.
Which benchmark or index does AT1S replicate?
AT1S tracks the Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD, through a full replication replication method.
What is the Total Expense ratio (TER) of AT1S?
AT1S carries a total expense ratio (TER) of 0.39%, indicating the annual cost for holding the fund.
When was AT1S launched?
AT1S was introduced to the market on September 25, 2018. It trades on Norway, among other exchanges
Who is the ETF issuer of AT1S?
Invesco AT1 Capital Bond UCITS ETF, AT1S, is provided by Invesco. Learn more about Invesco here.
Does AT1S have multiple share classes?
Yes, AT1S is available in multiple share classes, which may differ by distribution policy (e.g., accumulating vs. distributing), currency or hedging. Explore the different share classes .
What is the current assets under management (AUM) of AT1S?
AT1S oversees €44M in assets as of June 8, 2026.
How has AT1S performed lately?
Based on data from June 8, 2026, AT1S returned -0.45% over the past month, 1.25% over the last three months and 1.16% year-to-date.
What are the latest inflows or outflows for AT1S?
As of June 8, 2026, AT1S recorded net flows of -€753K over the last month and +€11M year-to-date.
Does AT1S distribute dividends?
AT1S follows a distributing dividend policy, meaning it pays out income to investors. As of June 8, 2026, its 12-month trailing yield was 5.91%.
What are the main country or region exposures of AT1S?
As of April 30, 2026, AT1S has significant geographic allocations in United Kingdom, France and USA.
In which sector or theme does AT1S invest in?
As of April 30, 2026, AT1S focuses largely on Banks and Holding companies.
How many securities does AT1S hold and how diversified is it?
As of April 30, 2026, AT1S holds 92 positions in its portfolio, with 29.19% of assets concentrated in its top 15 holdings.
What are the main positions in AT1S?
As of April 30, 2026, AT1S top three holdings include Barclays, 8% perp., USD, Banco Santander, 8% perp., USD and Banco Santander, 9.625% perp., USD.
What is the base currency of AT1S?
The base currency of AT1S is GBP.
Is AT1S currency-hedged?
AT1S is hedged, meaning it seeks to minimize the impact of currency fluctuations between its base currency and the currency of the underlying assets.
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