---
ticker: "PHDG"
name: "Invesco S&P 500 Downside Hedged ETF"
url: "https://etf.net/etf/PHDG"
grade: "B"
score: 56
graded_at: "2026-10-12"
category: "S&P 500 Option Income"
category_rank: "28 of 52"
methodology: "https://etf.net/methodology"
---

# PHDG: Invesco S&P 500 Downside Hedged ETF

Grade **B**, Score 56 of 100. Rank 28 of 52 in S&P 500 Option Income.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 70 | 16 of 52 |
| Mission | Not scored | — |
| Risk | 38 | 36 of 52 |
| Tradability | 37 | 38 of 52 |
| Holdings | 70 | 17 of 41 |
| Durability | 66 | 16 of 52 |

## Top holdings

The fund holds 508 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Invesco Premier US Government Money Portfolio | 14.01% |
| 2 | — | CME E-Mini Standard & Poor's 500 Index Future 12/18/2026 | 13.13% |
| 3 | NVDA | NVIDIA Corp | 6.95% |
| 4 | AAPL | Apple Inc | 6.16% |
| 5 | MSFT | Microsoft Corp | 4.98% |
| 6 | AMZN | Amazon.com Inc | 3.23% |
| 7 | GOOGL | Alphabet Inc | 2.59% |
| 8 | AVGO | Broadcom Inc | 2.15% |
| 9 | GOOG | Alphabet Inc | 2.07% |
| 10 | META | Meta Platforms Inc | 1.99% |
| 11 | — | Cash Collateral | 1.86% |
| 12 | MU | Micron Technology Inc | 1.46% |
| 13 | TSLA | Tesla Inc | 1.35% |
| 14 | AMD | Advanced Micro Devices Inc | 1.24% |
| 15 | BRK.B | Berkshire Hathaway Inc | 1.20% |
| 16 | LLY | Eli Lilly & Co | 1.18% |
| 17 | JPM | JPMorgan Chase & Co | 1.11% |
| 18 | XOM | ExxonMobil Holdings Corp | 0.87% |
| 19 | V | Visa Inc | 0.82% |
| 20 | JNJ | Johnson & Johnson | 0.79% |
| 21 | INTC | Intel Corp | 0.65% |
| 22 | WMT | Walmart Inc | 0.62% |
| 23 | ABBV | AbbVie Inc | 0.61% |
| 24 | PLTR | Palantir Technologies Inc | 0.60% |
| 25 | MA | Mastercard Inc | 0.60% |
| 26 | CSCO | Cisco Systems Inc | 0.58% |
| 27 | COST | Costco Wholesale Corp | 0.53% |
| 28 | CVX | Chevron Corp | 0.52% |
| 29 | AMAT | Applied Materials Inc | 0.50% |
| 30 | LRCX | Lam Research Corp | 0.50% |

Source: etf.net, https://etf.net/etf/PHDG. Please cite the page URL.