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Issuer
Invesco
Inception Date
Sep 24, 2018
Region
Global (Broad)
Leveraged
1x (No leverage)
Index Tracked
iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) Index
Domicile
Ireland
Distribution Policy
Distributing
Asset Class
Bond

Share Price Chart


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Performance

AT1S.L Performance Chart

Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist (AT1S.L) is up 2.0% since the beginning of the year. AT1S.L is currently trading at £35 per share. Investors who bought £1,000 worth of AT1S.L shares 5 years ago would now be looking at an investment worth £1,110.


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S&P 500 Index

Returns By Period

Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist (AT1S.L) has returned 2.03% so far this year and 6.92% over the past 12 months.


Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist

1D
0.09%
1M
0.31%
6M
1.47%
YTD
2.03%
1Y
6.92%
3Y*
10.39%
5Y*
2.11%
10Y*

Benchmark (S&P 500 Index)

1D
-0.66%
1M
-0.64%
6M
8.66%
YTD
10.17%
1Y
19.99%
3Y*
17.60%
5Y*
12.23%
10Y*
13.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AT1S.L Monthly Returns History

Based on dividend-adjusted daily data since Sep 25, 2018, AT1S.L's average daily return is +0.02%, while the average monthly return is +0.37%. At this rate, an investment would double in approximately 15.6 years.

Historically, 69% of months were positive and 31% were negative. The best month was Apr 2020 with a return of +8.5%, while the worst month was Mar 2020 at -14.6%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, AT1S.L closed higher 55% of trading days. The best single day was Jul 28, 2022 with a return of +8.5%, while the worst single day was Mar 16, 2020 at -8.3%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20260.80%0.35%-2.57%2.45%0.67%0.65%-0.27%2.03%
20251.41%0.87%-0.62%-0.48%2.22%1.14%1.85%0.58%1.23%0.66%0.39%0.80%10.47%
20240.42%0.12%1.57%-0.52%1.93%0.37%1.99%1.52%1.77%-0.85%0.69%0.42%9.80%
20234.90%-1.84%-12.62%-0.36%1.20%1.46%3.56%-1.25%-0.27%-0.47%4.47%3.87%1.39%
2022-2.03%-1.58%-0.90%-3.45%0.36%-6.08%5.88%-4.31%-6.30%2.62%3.12%1.86%-11.03%
2021-0.25%0.35%0.46%1.32%0.28%1.04%0.50%0.09%-0.44%-0.11%-1.29%1.13%3.09%

Benchmark Metrics

Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist has an annualized alpha of 2.88%, beta of 0.14, and R2 of 0.06 versus S&P 500 Index. Calculated based on daily prices since September 25, 2018.

  • This ETF participated in 35.22% of S&P 500 Index downside but only 29.14% of its upside - more exposed to losses than it benefited from rallies.
  • Beta of 0.14 may look defensive, but with R2 of 0.06 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
  • R2 of 0.06 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

Alpha
2.88%
Beta
0.14
0.06
Upside Capture
29.14%
Downside Capture
35.22%

Expense Ratio

AT1S.L has an expense ratio of 0.39%, placing it in the medium range.


Return for Risk

Risk / Return Rank

AT1S.L ranks 55 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.


AT1S.L Risk / Return Rank: 5555
Overall Rank
AT1S.L Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
AT1S.L Sortino Ratio Rank: 5757
Sortino Ratio Rank
AT1S.L Omega Ratio Rank: 6464
Omega Ratio Rank
AT1S.L Calmar Ratio Rank: 4545
Calmar Ratio Rank
AT1S.L Martin Ratio Rank: 5757
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist (AT1S.L) and compare them to S&P 500 Index.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.


AT1S.LBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

-0.20

Sortino ratioReturn per unit of downside risk

-0.02

Omega ratioGain probability vs. loss probability

1.31

1.31

0.00

Calmar ratioReturn relative to maximum drawdown

1.90

2.50

-0.60

Martin ratioReturn relative to average drawdown

7.87

9.11

-1.23

Dividends

Dividend History

Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist provided a 6.00% dividend yield over the last twelve months, with an annual payout of £2.11 per share.


1.00%2.00%3.00%4.00%5.00%6.00%£0.00£0.50£1.00£1.50£2.0020182019202020212022202320242025
Dividends
Dividend Yield
PeriodTTM20252024202320222021202020192018
Dividend£2.11£2.10£2.15£2.03£2.10£1.81£2.23£2.29£0.43

Dividend yield

6.00%5.91%6.29%6.12%6.02%4.36%5.31%5.45%1.13%

Monthly Dividends

The table displays the monthly dividend distributions for Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026£0.00£0.00£0.53£0.00£0.00£0.52£0.00£1.05
2025£0.00£0.00£0.54£0.00£0.00£0.50£0.00£0.00£0.53£0.00£0.00£0.53£2.10
2024£0.00£0.00£0.53£0.00£0.00£0.53£0.00£0.00£0.52£0.00£0.00£0.57£2.15
2023£0.00£0.00£0.57£0.00£0.00£0.49£0.00£0.00£0.52£0.00£0.00£0.44£2.03
2022£0.00£0.00£0.45£0.00£0.00£0.50£0.00£0.00£0.56£0.00£0.00£0.59£2.10
2021£0.00£0.00£0.46£0.00£0.00£0.44£0.00£0.00£0.45£0.00£0.00£0.45£1.81

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


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Worst Drawdowns

The table below displays the maximum drawdowns of the Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist was 29.25%, occurring on Mar 19, 2020. Recovery took 162 trading sessions.

The current Invesco USD AT1 CoCo Bond UCITS ETF GBP Hedged Dist drawdown is 0.44%.


Drawdown

Fall

Recovery

Underwater

Related event

-29.25%Mar 2020
1mo 5d7mo 25d
9moFeb 2020 - Nov 2020
COVID crash2020
-26.45%Mar 2023
1y 6mo2y 1mo
3y 7moSep 2021 - May 2025
-4.26%Dec 2018
27d1mo 20d
2mo 17dNov 2018 - Jan 2019
Rate-hike selloffLate 2018
-3.63%Mar 2026
1mo 2d1mo 10d
2mo 12dFeb 2026 - May 2026
-1.82%Aug 2019
20d20d
1mo 10dJul 2019 - Sep 2019

Drawdown Indicators


AT1S.LBenchmarkDifference

Max Drawdown

Largest peak-to-trough decline

-29.25%

-37.07%

+7.82%

Max Drawdown (1Y)

Largest decline over 1 year

-3.63%

-8.03%

+4.40%

Max Drawdown (3Y)

Largest decline over 3 years

-4.20%

-22.15%

+17.95%

Max Drawdown (5Y)

Largest decline over 5 years

-26.45%

-22.15%

-4.30%

Max Drawdown (10Y)

Largest decline over 10 years

-26.01%

Current Drawdown

Current decline from peak

-0.44%

-1.42%

+0.98%

Average Drawdown

Average peak-to-trough decline

-5.38%

-5.29%

-0.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.88%

2.20%

-1.32%

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Portfolio Analyzer

Build a portfolio with AT1S.L

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