Invesco S&P 500 Downside Hedged ETF
$41.67−0.18 (−0.42%)
- 0.44%
- $63M
- +14.2%
- 1.40%
- 0M sh
- $41.94
- low $34.73high $43.41
The ETF.net PHDG Grade
B
Score 56 out of 100
- 28 of 52
Score 56 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A70 out of 100Rank 16 of 52Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D38 out of 100Rank 36 of 52Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D37 out of 100Rank 38 of 52Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A70 out of 100Rank 17 of 41Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B66 out of 100Rank 16 of 52
Our read on PHDG
BMost funds in this corner sell options for income. PHDG goes the other way: an actively managed S&P 500 sleeve paired with volatility exposure that scales with the market's mood. Running since 2012.
The actively managed ETF seeks positive total returns in rising or falling markets. It obtains dynamic exposure to S&P 500 equity and volatility.
Why people hold it
- Costs less than the typical fund in its peer group: 0.44% a year against a category median of 0.60%.
- A different tool than the covered-call crowd. Instead of selling upside for premium, it pairs roughly 500 S&P 500 stocks with volatility exposure, tracking the S&P 500 Dynamic VEQTOR Index.
- Live since December 2012, so the strategy has a long real-world record rather than a backtest, and it grades in the upper half of a 50-plus fund cohort.
Worth knowing
- Volatility exposure isn't free. When markets grind steadily higher, the hedge side of the portfolio can weigh on results versus plain S&P 500 exposure.
- It's a thinly traded fund of modest size, so spreads can run wider than in the giants of its category. Order size and timing matter more here.
- Built as a hedged-equity strategy, not an income machine. It distributes quarterly, unlike the monthly-premium peers such as GPIX and BALI.
PHDG Holdings
- Other
- 508
- 57%
- Invesco Premier US Government Money Portfolio
Sectors
- Technology40.4%
- Financials11.3%
- Communication9.8%
- Health Care9.1%
- Consumer Discretionary8.8%
- Industrials7.5%
- Consumer Staples4.4%
- Energy3.5%
- Utilities1.9%
- Real Estate1.7%
- Materials1.5%
Geography
- United States97.98%
- Ireland1.16%
- United Kingdom0.40%
- Switzerland0.28%
- Netherlands0.08%
- Bermuda0.07%
- Canada0.01%
PHDG Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
PHDG$11,419
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PHDG |
|---|---|
| Year to date | +13.0% |
| 1 month | +1.9% |
| 3 months | +1.7% |
| 1 year | +14.2% |
| 3 years | +12.2% |
| 5 years | +5.2% |
| 10 years | +7.6% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PHDG |
|---|---|---|
| 2026 YTD | +13.0% | |
| 2025 | +2.7% | |
| 2024 | +10.9% | |
| 2023 | +8.2% | |
| 2022 | −14.1% | |
| 2021 | +15.7% | |
| 2020 | +19.0% |
PHDG in the news
PHDG Dividends
- 1.40%
- $0.59
- $0.12 per share
- Quarterly
Distribution history
PHDG Risk
- 10.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.71
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −17.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.71
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PHDG Cost
0.44%
PHDG0.44%
- The middle half of S&P 500 Option Income funds
- Median 0.60%
14 of the 51 S&P 500 Option Income funds charge less.
Other funds in S&P 500 Option Income
- BXRMIGlobal X - S&P 500 Risk Managed Income ETFExpense ratio 0.60%1 year return +11.5%
- BHEMIHartford Equity Premium Income ETFExpense ratio 0.58%1 year return —
- COVLHOverlay Shares Hedged Large Cap Equity ETFExpense ratio 0.80%1 year return +11.5%
- CBNDINeos Enhanced Income Aggregate Bond ETFExpense ratio 0.61%1 year return +0.1%
- CHEDGEquable Shares Hedged Equity ETFExpense ratio 0.96%1 year return —