PHDG
Invesco S&P 500® Downside Hedged ETF

Price: $32.80
Change: $0.06 (-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 $32.43
  • 52 Week Hi $38.41
  • AUM $264.7 M
  • Shares 8.1 M

Historical Trading Data

  • 1 Month Avg. Volume 88,857
  • 3 Month Avg. Volume 116,626

Alternative ETFs in the ETF Database Hedge Fund Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest CPI 0.29% $11.5 M 16,577 -6.13%
Largest (AUM) RPAR 0.51% $1.3 B 230,835 -19.75%
Most Liquid (Volume) RYLD 0.60% $1.2 B 934,300 -10.11%
Top YTD Performer PFIX 0.50% $302.0 M 222,308 51.51%

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% $429.3 M 46,027 -20.54%
Largest (AUM) SPY 0.09% $346.1 B 101 M -18.98%
Most Liquid (Volume) SPY 0.09% $346.1 B 101 M -18.98%
Top YTD Performer BALT 0.69% $138.7 M 67,758 -0.19%

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 506 136 140
% of Assets in Top 10 48.30% 79.58% 54.91%
% of Assets in Top 15 52.58% 84.25% 59.36%
% of Assets in Top 50 68.10% 95.64% 76.12%

Size Comparison

PHDG ETF Database Category Average FactSet Segment Average
Large (>12.9B) 98.30% 9.89% 51.58%
Mid (>2.7B) 1.70% 3.03% 4.05%
Small (>600M) 0.00% 1.64% 0.11%
Micro (<600M) 0.00% 0.26% 0.01%

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
22.12
FactSet Segment Average
P/E Ratio
19.67

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 $ 0.42 $ 0.15
Dividend Date 2021-09-20 N/A N/A
Annual Dividend Rate $ 0.18 $ 0.60 $ 0.49
Annual Dividend Yield 0.48% 1.97% 0.79%

PHDG Price and Volume Charts

View charts featuring PHDG price and volume data.

PHDG Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: -1.66 M 1 Month Net Flows: -28.27 M 3 Month Net Flows: -112.46 M 6 Month Net Flows: -49.09 M 1 Year Net Flows: 99.29 M 3 Year Net Flows: 229.25 M 5 Year Net Flows: 196.9 M 10 Year Net Flows: 341.52 M

PHDG Price vs Flows AUM Influence Charts

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

5 Day Net AUM Change: -8.27 M
1 Month Net AUM Change: -40.08 M
3 Month Net AUM Change: -129.98 M
6 Month Net AUM Change: -86.1 M
1 Year Net AUM Change: 83.53 M
3 Year Net AUM Change: 226.45 M
5 Year Net AUM Change: 197.25 M
10 Year Net AUM Change: 264.69 M

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+ RLY
Expenses A CPI
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
0.71%
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 -3.25% -4.06% -4.83%
3 Month Return -9.48% -6.44% -11.17%
YTD Return -13.55% -4.20% -12.87%
1 Year Return -8.40% -2.83% -6.99%
3 Year Return 17.96% 9.04% 10.56%
5 Year Return 37.41% 9.86% 14.89%

Geographic Exposure

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

Region Percentage
North, Central and South America 80.54%
Other 19.48%
Country Percentage
United States 65.05%
Other 32.99%
Ireland 1.12%
United Kingdom 0.46%
Switzerland 0.27%
Netherlands 0.08%
Israel 0.03%
Bermuda 0.02%

Holdings Analysis

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

Sector Percentage
Miscellaneous 13.51%
Technology Services 11.57%
Other 9.77%
CASH 9.71%
Electronic Technology 9.58%
Finance 8.97%
Health Technology 7.69%
Retail Trade 5.01%
Consumer Non-Durables 3.96%
Energy Minerals 2.49%
Producer Manufacturing 2.39%
Consumer Services 2.36%
Utilities 2.11%
Commercial Services 2.0%
Health Services 1.95%
Consumer Durables 1.88%
Process Industries 1.46%
Transportation 1.19%
Communications 0.96%
Industrial Services 0.67%
Distribution Services 0.45%
Non-Energy Minerals 0.34%
Market Cap Percentage
Large 98.3%
Mid 1.7%
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
Miscellaneous 13.51%
Technology Services 11.57%
Other 9.77%
CASH 9.71%
Electronic Technology 9.58%
Finance 8.97%
Health Technology 7.69%
Retail Trade 5.01%
Consumer Non-Durables 3.96%
Energy Minerals 2.49%
Producer Manufacturing 2.39%
Consumer Services 2.36%
Utilities 2.11%
Commercial Services 2.0%
Health Services 1.95%
Consumer Durables 1.88%
Process Industries 1.46%
Transportation 1.19%
Communications 0.96%
Industrial Services 0.67%
Distribution Services 0.45%
Non-Energy Minerals 0.34%

PHDG Technicals

Volatility Analysis

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

5 Day Volatility 22.61%
20 Day Volatility 15.19%
50 Day Volatility 15.38%
200 Day Volatility 13.03%
Beta 0.33
Standard Deviation 1.39%
5 Day Volatility
22.61%
Rank
24 of 27

20 Day Volatility
15.19%
Rank
16 of 27

50 Day Volatility
15.38%
Rank
17 of 27

200 Day Volatility
13.03%
Rank
18 of 26

Beta
0.33
Rank
15 of 23

Standard Deviation
1.39%
Rank
9 of 23

Technicals

  • 20 Day MA $33.01
  • 60 Day MA $33.89
  • MACD 15 Period 0.01
  • MACD 100 Period -2.05
  • Williams % Range 10 Day 64.42
  • Williams % Range 20 Day 81.67
  • RSI 10 Day 45
  • RSI 20 Day 43
  • RSI 30 Day 42
  • Ultimate Oscillator 52

Bollinger Bands

  • Lower Bollinger (10 Day) $32.38
  • Upper Bollinger (10 Day) $33.29
  • Lower Bollinger (20 Day) $31.98
  • Upper Bollinger (20 Day) $34.06
  • Lower Bollinger (30 Day) $32.03
  • Upper Bollinger (30 Day) $34.53

Support & Resistance

  • Support Level 1 $32.57
  • Support Level 2 $32.33
  • Resistance Level 1 $32.94
  • Resistance Level 2 $33.09

Stochastic

  • Stochastic Oscillator %D (1 Day) 59.73
  • Stochastic Oscillator %D (5 Day) 33.79
  • Stochastic Oscillator %K (1 Day) 46.38
  • Stochastic Oscillator %K (5 Day) 40.32

Tradability

  • Tracking Difference Median (%) n/a
  • Tracking Difference Max Upside (%) n/a
  • Tracking Difference Max Downside (%) n/a
  • Median Premium Discount (%) 0.07
  • Maximum Premium Discount (%) 0.56
  • Average Spread (%) 9.56
  • Average Spread ($) 9.56

Financial Advisor Report

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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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