Invesco UK Service Limited Launches Three Overnight Return Swap ETFs in Collaboration
with Solactive
Solactive is pleased to announce its collaboration with Invesco UK Service Limited (Invesco) on the launch of three Invesco Overnight Return Swap UCITS ETFs. The new funds track Solactive indices, enabling investors to access the daily compounded returns of the currency-denominated short-term interest rate in a transparent and efficient manner. These new products offer both institutional and retail investors an innovative new tool with which to manage their cash exposure.
The ETFs that Invesco will be listing on 30 October 2025 are:
The Invesco EUR Overnight Return Swap UCITS ETF (ticker: EONS) will aim to replicate the performance of the Solactive €STR Overnight Total Return Index and will be listed on the SIX Swiss Exchange, Xetra and Euronext Milan.
The Invesco GBP Overnight Return Swap UCITS ETF (ticker: GONS) will aim to replicate the performance of the Solactive SONIA T+2 Settlement Daily Total Return Index and will be listed on the London Stock Exchange.
The Invesco USD Overnight Return Swap UCITS ETF (ticker: UONS) will aim to replicate the performance of the Solactive SOFR T+2 Settlement Daily Total Return Index and will be listed on the London Stock Exchange, Euronext Milan and the SIX Swiss Exchange.
The Solactive €STR Overnight Total Return Index, the Solactive SONIA T+2 Settlement Daily Total Return Index and the Solactive SOFR T+2 Settlement Daily Total Return Index are part of Solactive Money Market Index Series, designed to accurately reflect the interest accrued on notional overnight deposits with consistency and precision. The indices capture the daily compounding of the Euro Short-Term Rate (€STR), the Sterling Overnight Index Average (SONIA) and the Secured Overnight Financing Rate (SOFR) without incorporating any spread, incorporating a one-day interest rate lag, a two-day settlement offset, and an appropriate day count convention—providing a robust, transparent benchmark for euro-denominated cash management strategies. This methodology provides a robust, transparent benchmark for cash management strategies.
Timo Pfeiffer, Chief Markets Officer at Solactive, commented: “We are delighted to extend our collaboration with Invesco on the launch of the Invesco Overnight Return Swap UCITS ETFs. As demand for transparent, regulation-aligned benchmarks grows, the Solactive Money Market Indices provide a robust foundation for investment products tailored to the needs of cash management strategies.”
Matt Tagliani, Head of EMEA ETF Product at Invesco, commented: “Cash management exposures have accounted for over a third of all fixed income ETF flows this year, as lower interest rates are incentivizing investors to rethink their cash allocation. By leveraging our market-leading swap-based ETF platform, we saw a way to deliver highly liquid solutions with the potential for enhanced returns relative to overnight base rates, and we’ve been delighted to work with Solactive to develop indices that incorporate the specific nuances around settlement that would allow us to bring these products to market.”