The Invesco Defensive Equity ETF (Fund) is based on the Invesco Defensive Equity Index (Index). The Fund will invest at least 80% of its total assets in securities that comprise the Index. The Index is designed to provide exposure to securities of large-cap US issuers. The Index uses a rules-based approach to select companies that potentially have superior risk-return profiles during periods of stock market weakness while still offering the potential for gains during periods of market strength. The Index is computed using the gross total return, which reflects dividends paid. The Fund and the Index are rebalanced quarterly.