Invesco Variable Rate Preferred ETF is an exchange traded fund launched and managed by Invesco Capital Management LLC. The fund invests in fixed income markets of the United States. It primarily invests in U.S. dollar denominated floating and variable rate investment grade and below investment grade preferred stock as well as certain types of hybrid securities issued by corporations having at least one day remaining to maturity. The fund seeks to track the performance of the ICE Variable Rate Preferred & Hybrid Securities Index, by using representative sampling technique. Invesco Variable Rate Preferred ETF was formed on May 1, 2014 and is domiciled in the United States.