PHDG
Invesco S&P 500® Downside Hedged ETF

Price: $36.32
Change: $0.02 (-0.0%)
Category: Hedge Fund
Last Updated:

Vitals

Issuer Invesco
Brand Invesco
Structure ETF
Expense Ratio 0.40%
ETF Home Page Home page
Inception Dec 06, 2012
Index Tracked ACTIVE - No Index

Analyst Report

The Invesco S&P 500 Downside Hedged ETF is an actively-managed fund that invests in a combination of S&P 500 stocks, cash and contracts pegged to the CBOE Volatility Index, also known as the VIX. The aim is to maintain exposure to rising equities while using VIX-linked derivatives to hedge against a sudden stock market downturn. The VIX, a gauge of market turbulence, typically rises when stocks fall, making it appealing as a kind of insurance against a crash. However, maintaining VIX hedges can get pricey, especially during stable markets. This means PHDG could lag during steadily rising markets and outperform when the market tumbles. The fund is reasonably priced for an active strategy. Is it worth it? Investors should compare PHDG’s performance against ultra-low-cost S&P 500 index funds, both over the long haul and during downdrafts.

ETF Database Themes

Category Hedge Fund
Asset Class Equity
Asset Class Size Multi-Cap
Asset Class Style Blend
Sector (General) Financials
Sector (Specific) Broad
Region (General) Developed Markets
Region (Specific) Broad

FactSet Classifications

  • Segment Equity: U.S. - Large Cap
  • Category Size and Style
  • Focus Large Cap
  • Niche Broad-based
  • Strategy Volatility Hedged
  • Weighting Scheme Fixed

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $31.68
  • 52 Week Hi $37.10
  • AUM $243.4 M
  • Shares 6.7 M

Historical Trading Data

  • 1 Month Avg. Volume 67,317
  • 3 Month Avg. Volume 74,485

Alternative ETFs in the ETF Database Hedge Fund Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest DBEF 0.36% $4.1 B 447,352 16.93%
Largest (AUM) DBEF 0.36% $4.1 B 447,352 16.93%
Most Liquid (Volume) DBEF 0.36% $4.1 B 447,352 16.93%
Top YTD Performer RLY 0.50% $170.1 M 27,739 23.67%

Alternative ETFs in the FactSet Equity: U.S. - Large Cap Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest BKLC 0.00% $380.6 M 14,929 21.75%
Largest (AUM) SPY 0.09% $407.9 B 70 M 22.51%
Most Liquid (Volume) SPY 0.09% $407.9 B 70 M 22.51%
Top YTD Performer EQRR 0.35% $8.5 M 3,134 39.04%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

PHDG ETF Database Category Average FactSet Segment Average
Number of Holdings 507 73 144
% of Assets in Top 10 54.82% 79.69% 51.12%
% of Assets in Top 15 58.42% 84.23% 55.31%
% of Assets in Top 50 71.60% 95.54% 71.76%

Size Comparison

PHDG ETF Database Category Average FactSet Segment Average
Large (>12.9B) 98.53% 17.37% 51.74%
Mid (>2.7B) 1.47% 3.94% 3.97%
Small (>600M) 0.00% 1.57% 0.07%
Micro (<600M) 0.00% 0.19% 0.00%

PHDG Valuation

This section compares the P/E ratio of this ETF to its peers.

PHDG
P/E Ratio
26.44
ETF Database Category Average
P/E Ratio
19.59
FactSet Segment Average
P/E Ratio
21.36

PHDG Dividend

This section compares the dividend yield of this ETF to its peers.

PHDG ETF Database Category Average FactSet Segment Average
Dividend $ 0.04 $ 0.47 $ 0.17
Dividend Date 2021-09-20 N/A N/A
Annual Dividend Rate $ 0.18 $ 0.69 $ 0.55
Annual Dividend Yield 0.50% 2.26% 0.91%

PHDG Price and Volume Chart

PHDG Fund Flows

View charts featuring ETF fund flow data.

5 Day Net Flows: 0 1 Month Net Flows: 5.35 M 3 Month Net Flows: 45.3 M 6 Month Net Flows: 88.03 M 1 Year Net Flows: 87.06 M 3 Year Net Flows: 194.88 M 5 Year Net Flows: 103.8 M 10 Year Net Flows: 296.5 M

PHDG Price vs Flows AUM Influence

View charts that break down the influence that fund flows and price had on overall assets.

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for PHDG on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the Hedge Fund with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity B+ n/a
Expenses A n/a
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

PHDG Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

PHDG
Expense Ratio
0.40%
ETF Database Category Average
Expense Ratio
0.68%
FactSet Segment Average
Expense Ratio
0.57%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Qualified dividends
Distributes K1 No
ESG Themes and Scores

PHDG does not have an ESG score. There are no ESG themes that map to this ETF.

PHDG Performance

This section shows how this ETF has performed relative to its peers.

PHDG ETF Database
Category Average
Factset Segment
Average
1 Month Return 0.78% 1.48% 1.72%
3 Month Return 0.86% 2.16% 3.12%
YTD Return 10.25% 10.00% 13.32%
1 Year Return 10.03% 15.27% 19.55%
3 Year Return 34.41% 11.19% 22.84%
5 Year Return 66.16% 19.22% 27.64%

Geographic Exposure

The following charts reflect the geographic spread of PHDG's underlying holdings.

Region Percentage
North, Central and South America 60.79%
Other 39.24%
Country Percentage
United States 58.84%
Other 39.24%
Ireland 1.13%
United Kingdom 0.47%
Switzerland 0.25%
Netherlands 0.08%
Bermuda 0.02%

Holdings Analysis

The following charts reflect the allocation of PHDG's underlying holdings.

Sector Percentage
Other 31.53%
Technology Services 12.85%
Finance 9.3%
Electronic Technology 8.59%
CASH 7.71%
Health Technology 6.13%
Retail Trade 5.13%
Consumer Non-Durables 3.01%
Consumer Services 2.46%
Producer Manufacturing 2.37%
Consumer Durables 1.83%
Utilities 1.51%
Energy Minerals 1.51%
Health Services 1.36%
Process Industries 1.24%
Transportation 1.08%
Communications 0.77%
Industrial Services 0.52%
Commercial Services 0.52%
Distribution Services 0.32%
Non-Energy Minerals 0.29%
Market Cap Percentage
Large 98.53%
Mid 1.47%
Micro 0.0%
Small 0.0%
Region Percentage
Asset Percentage
U.S. Listed Stocks 59.11%
Other 35.44%
Cash 4.18%
International Stocks 1.27%
Sector Percentage
Other 31.53%
Technology Services 12.85%
Finance 9.3%
Electronic Technology 8.59%
CASH 7.71%
Health Technology 6.13%
Retail Trade 5.13%
Consumer Non-Durables 3.01%
Consumer Services 2.46%
Producer Manufacturing 2.37%
Consumer Durables 1.83%
Utilities 1.51%
Energy Minerals 1.51%
Health Services 1.36%
Process Industries 1.24%
Transportation 1.08%
Communications 0.77%
Industrial Services 0.52%
Commercial Services 0.52%
Distribution Services 0.32%
Non-Energy Minerals 0.29%

PHDG Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility
36.42%
Rank
11 of 26

20 Day Volatility
7.80%
Rank
17 of 26

50 Day Volatility
8.18%
Rank
18 of 25

200 Day Volatility
7.93%
Rank
17 of 25

Beta
0.32
Rank
17 of 25

Standard Deviation
1.44%
Rank
13 of 22

Technicals

  • 20 Day MA $35.88
  • 60 Day MA $36.18
  • MACD 15 Period 0.48
  • MACD 100 Period 0.39
  • Williams % Range 10 Day 7.31
  • Williams % Range 20 Day 7.31
  • RSI 10 Day 63
  • RSI 20 Day 55
  • RSI 30 Day 54
  • Ultimate Oscillator 68

Bollinger Bands

  • Lower Bollinger (10 Day) $35.21
  • Upper Bollinger (10 Day) $36.54
  • Lower Bollinger (20 Day) $35.37
  • Upper Bollinger (20 Day) $36.40
  • Lower Bollinger (30 Day) $35.34
  • Upper Bollinger (30 Day) $36.65

Support & Resistance

  • Support Level 1 $36.26
  • Support Level 2 $36.20
  • Resistance Level 1 $36.39
  • Resistance Level 2 $36.46

Stochastic

  • Stochastic Oscillator %D (1 Day) 56.92
  • Stochastic Oscillator %D (5 Day) 85.10
  • Stochastic Oscillator %K (1 Day) 61.82
  • Stochastic Oscillator %K (5 Day) 73.41

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

Data Lineage

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

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Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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