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Invesco S&P 500 Downside Hedged ETF
Active ETF
PHDG
Payout Change
Pending
Price as of:
$38.0342
+0.16
+0.43%
primary theme
Long-Short Equity
PHDG (ETF)
Invesco S&P 500 Downside Hedged ETF
Payout Change
Pending
Price as of:
$38.0342
+0.16
+0.43%
primary theme
Long-Short Equity
PHDG (ETF)
Invesco S&P 500 Downside Hedged ETF
Payout Change
Pending
Price as of:
$38.0342
+0.16
+0.43%
primary theme
Long-Short Equity
Name
As of 01/21/2025Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
2.1%
1 yr return
11.6%
3 Yr Avg Return
3.1%
5 Yr Avg Return
7.1%
Net Assets
$116 M
Holdings in Top 10
43.7%
52 WEEK LOW AND HIGH
$37.9
$34.57
$39.26
Expenses
OPERATING FEES
Expense Ratio 0.42%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 01/21/2025Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
PHDG - Profile
Distributions
- YTD Total Return 2.1%
- 3 Yr Annualized Total Return 3.1%
- 5 Yr Annualized Total Return 7.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.52%
- Dividend Yield 1.8%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameInvesco S&P 500 Downside Hedged ETF
-
Fund Family NameINVESCOETF
-
Inception DateDec 06, 2012
-
Shares Outstanding8950000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPeter Hubbard
Fund Description
The Fund seeks to achieve its investment objective by allocating its assets generally among the components of the S&P 500® Dynamic VEQTOR Index
(the “Benchmark”). The Benchmark is composed of up to three types of components: (i) an equity component, represented by the S&P 500® Index; (ii) a volatility hedge component, represented by the S&P 500® VIX Short-Term Futures Index (“VIX Futures Index”); and (iii) cash.
The Benchmark is designed to measure the performance of the broad equity markets with an implied volatility hedge. “Implied volatility” is a measure of the expected volatility of the S&P 500® Index that is reflected in the value of the Chicago Board Options Exchange (“CBOE”) Volatility Index (“VIX Index”). Known as the “fear gauge” of the broader U.S. equities market, the VIX Index measures market volatility in large capitalization U.S. stocks and is calculated based on the prices of certain put and call options on the S&P 500® Index.
The VIX Futures Index is designed to measure the returns from long positions in futures contracts on the VIX Index. The Benchmark’s allocation to the VIX Futures Index is designed to serve as a volatility hedge, as volatility historically tends to correlate negatively to the performance of the U.S. equity markets (i.e., rapid declines in the performance of U.S. equity markets generally are associated with high volatility in such markets). Accordingly, pursuant to its methodology, the Benchmark allocates a greater portion of its weight to its equity component (the S&P 500® Index) during periods of low volatility, and a greater portion of its weight to its volatility hedge component (the VIX Futures Index) during periods of increased volatility.
Under normal circumstances, the Fund will invest its portfolio in a combination of assets that are similar, but not necessarily identical, to that of the Benchmark. The Fund’s portfolio is composed of: (i) an equity sleeve, consisting of the component securities of the S&P 500® Index, (ii) a volatility hedge sleeve, consisting of VIX Index-Related Instruments (defined below), which include futures contracts on the VIX Index, (iii) futures contracts that reference the S&P 500® Index (“S&P 500 Futures”); and (iv) various liquid investments, including short-term U.S. Treasury Securities, money market instruments, cash and cash equivalents. With respect to its equity sleeve, the Fund utilizes a “passive” investment strategy that seeks to track the performance of the S&P 500® Index as closely as possible. To do so, the Fund employs a “full replication” methodology; “full replication” means that the Fund generally invests the portion of its portfolio allocated to its equity sleeve in all of the component securities of the S&P 500® Index in proportion to their weightings in the S&P 500® Index. Although the Fund employs a passive strategy with respect to its equity sleeve, Invesco Capital Management LLC (the “Adviser”), the Fund’s investment adviser, will actively manage the Fund’s investments in VIX Index-Related Instruments, S&P 500 Futures, short-term instruments and cash, as well as the Fund’s allocation of its assets among the equity and volatility hedge sleeves. Such allocations may not correspond to the Benchmark’s allocations. Instead, the Adviser will seek to obtain returns for the Fund that exceed the Benchmark by providing the Fund with equity or volatility hedge sleeve allocations that are higher or lower than those of the Benchmark at any time given the market conditions at that time.
In addition to its investments in futures contracts on the VIX Index, the Fund may invest in U.S.-listed exchange-traded funds (“ETFs”) and exchange-traded notes (“ETNs”) that provide exposure to the VIX Index (such ETFs and ETNs, along with futures contracts on the VIX Index, are collectively the “VIX Index-Related Instruments”). The Fund may invest in the short-term instruments and cash to provide liquidity or to protect the Fund during periods of heightened volatility when the Adviser believes that it is in the best interest of the Fund to do so.
PHDG - Performance
Return Ranking - Trailing
| Period | PHDG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.1% | -2.8% | 11.3% | 39.31% |
| 1 Yr | 11.6% | -8.8% | 41.8% | 48.28% |
| 3 Yr | 3.1%* | -3.9% | 21.9% | 77.27% |
| 5 Yr | 7.1%* | -3.8% | 23.9% | 46.22% |
| 10 Yr | 4.8%* | -4.0% | 10.9% | 56.16% |
* Annualized
Return Ranking - Calendar
| Period | PHDG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 8.8% | -12.4% | 34.9% | 35.86% |
| 2023 | 6.0% | -17.3% | 43.8% | 42.76% |
| 2022 | -15.2% | -54.0% | 17.4% | 73.08% |
| 2021 | 15.1% | -40.0% | 54.1% | 23.39% |
| 2020 | 18.2% | -47.6% | 88.4% | 20.17% |
Total Return Ranking - Trailing
| Period | PHDG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.1% | -2.8% | 11.3% | 39.31% |
| 1 Yr | 11.6% | -8.8% | 41.8% | 48.28% |
| 3 Yr | 3.1%* | -3.9% | 21.9% | 77.27% |
| 5 Yr | 7.1%* | -3.8% | 23.9% | 46.22% |
| 10 Yr | 4.8%* | -4.0% | 10.9% | 56.16% |
* Annualized
Total Return Ranking - Calendar
| Period | PHDG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2024 | 10.9% | -9.0% | 37.8% | 47.59% |
| 2023 | 8.2% | -14.5% | 43.8% | 49.66% |
| 2022 | -14.1% | -54.0% | 50.3% | 82.31% |
| 2021 | 15.7% | -40.0% | 61.6% | 38.71% |
| 2020 | 19.0% | -29.9% | 91.0% | 20.17% |
PHDG - Holdings
Concentration Analysis
| PHDG | Category Low | Category High | PHDG % Rank | |
|---|---|---|---|---|
| Net Assets | 116 M | 1.08 M | 6.67 B | 46.90% |
| Number of Holdings | 509 | 3 | 2730 | 14.48% |
| Net Assets in Top 10 | 50.6 M | -4.86 M | 2.26 B | 48.28% |
| Weighting of Top 10 | 43.73% | -9.9% | 110.8% | 52.41% |
Top 10 Holdings
- Invesco Premier U.S. Government Money Portfolio, Institutional Class 19.93%
- Apple Inc. 5.06%
- NVIDIA Corp. 4.82%
- Microsoft Corp. 4.45%
- Amazon.com, Inc. 2.57%
- Meta Platforms, Inc., Class A 1.83%
- Alphabet Inc., Class A 1.48%
- Alphabet Inc., Class C 1.22%
- Berkshire Hathaway Inc., Class B 1.21%
- Broadcom Inc. 1.16%
Asset Allocation
| Weighting | Return Low | Return High | PHDG % Rank | |
|---|---|---|---|---|
| Stocks | 71.10% | -0.13% | 113.26% | 54.48% |
| Cash | 28.99% | 0.00% | 109.95% | 37.24% |
| Preferred Stocks | 0.00% | -1.13% | 6.15% | 28.28% |
| Convertible Bonds | 0.00% | -0.02% | 4.48% | 16.79% |
| Bonds | 0.00% | 0.00% | 108.68% | 37.93% |
| Other | -0.09% | -57.63% | 99.50% | 74.48% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PHDG % Rank | |
|---|---|---|---|---|
| Technology | 24.45% | 0.00% | 43.24% | 17.95% |
| Healthcare | 14.47% | 0.00% | 100.00% | 52.99% |
| Financial Services | 13.40% | 0.00% | 83.83% | 53.85% |
| Consumer Cyclical | 10.75% | 0.00% | 88.83% | 42.74% |
| Communication Services | 8.81% | 0.00% | 32.32% | 29.06% |
| Industrials | 8.19% | 0.00% | 31.93% | 70.94% |
| Consumer Defense | 6.90% | 0.00% | 19.75% | 38.46% |
| Energy | 4.80% | 0.00% | 32.57% | 41.88% |
| Utilities | 2.98% | 0.00% | 21.71% | 23.08% |
| Real Estate | 2.77% | 0.00% | 10.93% | 33.33% |
| Basic Materials | 2.47% | 0.00% | 28.58% | 55.56% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PHDG % Rank | |
|---|---|---|---|---|
| US | 71.10% | 0.00% | 113.26% | 44.83% |
| Non US | 0.00% | -2.95% | 54.79% | 35.17% |
PHDG - Expenses
Operational Fees
| PHDG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.42% | 0.41% | 9.95% | 99.31% |
| Management Fee | 0.39% | 0.00% | 2.50% | 8.28% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.03% | 1.54% | N/A |
Sales Fees
| PHDG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| PHDG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| PHDG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 446.00% | N/A |
PHDG - Distributions
Dividend Yield Analysis
| PHDG | Category Low | Category High | PHDG % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.76% | 0.00% | 27.22% | 47.92% |
Dividend Distribution Analysis
| PHDG | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| PHDG | Category Low | Category High | PHDG % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.52% | -3.33% | 2.16% | 13.29% |
Capital Gain Distribution Analysis
| PHDG | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 23, 2024 | $0.167 | OrdinaryDividend |
| Sep 23, 2024 | $0.235 | OrdinaryDividend |
| Jun 24, 2024 | $0.167 | OrdinaryDividend |
| Mar 18, 2024 | $0.154 | OrdinaryDividend |
| Dec 18, 2023 | $0.214 | OrdinaryDividend |
| Sep 18, 2023 | $0.129 | OrdinaryDividend |
| Jun 20, 2023 | $0.136 | OrdinaryDividend |
| Mar 20, 2023 | $0.182 | OrdinaryDividend |
| Dec 19, 2022 | $0.222 | OrdinaryDividend |
| Sep 19, 2022 | $0.096 | OrdinaryDividend |
| Jun 21, 2022 | $0.069 | OrdinaryDividend |
| Mar 21, 2022 | $0.049 | OrdinaryDividend |
| Dec 20, 2021 | $0.032 | OrdinaryDividend |
| Sep 20, 2021 | $0.042 | OrdinaryDividend |
| Jun 21, 2021 | $0.038 | OrdinaryDividend |
| Mar 22, 2021 | $0.055 | OrdinaryDividend |
| Dec 21, 2020 | $0.045 | OrdinaryDividend |
| Sep 21, 2020 | $0.044 | OrdinaryDividend |
| Jun 22, 2020 | $0.058 | OrdinaryDividend |
| Mar 23, 2020 | $0.062 | OrdinaryDividend |
| Dec 23, 2019 | $0.197 | OrdinaryDividend |
| Sep 23, 2019 | $0.118 | OrdinaryDividend |
| Jun 24, 2019 | $0.097 | OrdinaryDividend |
| Mar 18, 2019 | $0.091 | OrdinaryDividend |
| Dec 24, 2018 | $0.145 | OrdinaryDividend |
| Sep 24, 2018 | $0.110 | OrdinaryDividend |
| Jun 18, 2018 | $0.095 | OrdinaryDividend |
| Mar 19, 2018 | $0.060 | OrdinaryDividend |
| Dec 18, 2017 | $0.251 | OrdinaryDividend |
| Sep 18, 2017 | $0.181 | OrdinaryDividend |
| Jun 16, 2017 | $0.067 | OrdinaryDividend |
| Dec 16, 2016 | $0.274 | OrdinaryDividend |
| Sep 16, 2016 | $0.095 | OrdinaryDividend |
| Jun 17, 2016 | $0.117 | OrdinaryDividend |
| Mar 18, 2016 | $0.064 | OrdinaryDividend |
| Dec 24, 2015 | $0.044 | ExtraDividend |
| Dec 18, 2015 | $0.147 | OrdinaryDividend |
| Sep 18, 2015 | $0.071 | OrdinaryDividend |
| Jun 19, 2015 | $0.078 | OrdinaryDividend |
| Mar 20, 2015 | $0.067 | OrdinaryDividend |
| Dec 24, 2014 | $1.126 | CapitalGainShortTerm |
| Dec 24, 2014 | $0.108 | CapitalGainLongTerm |
| Dec 19, 2014 | $0.104 | OrdinaryDividend |
| Sep 19, 2014 | $0.052 | OrdinaryDividend |
| Jun 20, 2014 | $0.063 | OrdinaryDividend |
| Mar 21, 2014 | $0.065 | OrdinaryDividend |
| Dec 20, 2013 | $0.292 | OrdinaryDividend |
| Sep 20, 2013 | $0.045 | OrdinaryDividend |
| Jun 21, 2013 | $0.083 | OrdinaryDividend |
| Mar 15, 2013 | $0.071 | OrdinaryDividend |
| Dec 21, 2012 | $0.023 | OrdinaryDividend |
PHDG - Fund Manager Analysis
Managers
Peter Hubbard
Start Date
Tenure
Tenure Rank
Dec 05, 2012
9.49
9.5%
Peter Hubbard, Vice President and Director of Portfolio Management of the Invesco PowerShares Capital Management LLC. Mr. Hubbard has been a Portfolio Manager of the Adviser since June 2007 and has been associated with the Adviser since 2005. Prior to joining the Invesco PowerShares Capital Management LLC, Hubbard was a research analyst and trader for Ritchie Capital from September 2003 to May 2005.
Theodore Samulowitz
Start Date
Tenure
Tenure Rank
Dec 05, 2012
9.49
9.5%
Theodore Samulowitz is a Vice President and Portfolio Manager of Invesco PowerShares Capital Management LLC. He has been a Portfolio Manager of Invesco PowerShares Capital Mgmt LLC since May 2012. Prior to that, he was the Managing Partner of Endurance Capital Markets LLC from 2010 to May 2012 and a Portfolio Manager of CMT Asset Management from 2006 to 2010.
David Hemming
Start Date
Tenure
Tenure Rank
Sep 21, 2016
5.69
5.7%
David Hemming, Senior Portfolio Manager of the Invesco Capital Management LLC, Commodities and Alternatives.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.07 | 23.55 | 5.96 | 7.93 |
