PBTP offers broad, marketlike exposure to the short-term end of the Treasury inflation-protected securities (TIPS) market in the United States. The fund offers market-weighted exposure to TIPS with maturities between one month and five years. Like all Treasury debt, TIPS are backed by the full faith and credit of the US government. Interest payments and principal adjust with inflation, providing a stable real return. TIPS can also be used tactically, as their market value tends to rise (or fall) with inflation expectations. The fund is rebalanced monthly. Prior to August 28, 2023, the fund traded under the name Invesco PureBeta 0-5 Yr US TIPS ETF.