PSY is an actively managed fund that aims to invest in four Invesco ETFs that either have a track record of share buybacks or a record of increasing dividends. These ETFs are: Invesco Dividend Achievers ETF (PFM), Invesco International Dividend Achievers ETF (PID), Invesco BuyBack Achievers ETF (PKW), and Invesco International BuyBack Achievers ETF (IPKW). Exposure to these four ETFs are equal, meaning an approximate allocation of 25% at all times. PSY limits its global reach to companies in developed markets, and may also invest in individual securities that make up the underlying ETFs. Rebalancing is done monthly.