The Invesco High Yield Equity Dividend Achievers ETF (PEY) is designed to mirror the performance of the NASDAQ US Dividend Achievers 50 Index. Typically, the fund invests a minimum of 90% of its overall capital in dividend-issuing common stocks that are constituents of this index. The benchmark itself is composed of 50 equity securities, chosen principally for their attractive dividend yields and a consistent track record of increasing dividend payments. Both the fund and its underlying index undergo annual reconstitution each March, with quarterly rebalancing adjustments made in March, June, September, and December.