Symbols

PHDG

Invesco S&P 500 Downside Hedged ETF·ARCA

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Key Stats

Assets Under Management

70.20MUSD

Fund Flows (1Y)

-37.04MUSD

Dividend Yield

2.08%

Discount/Premium to NAV

-0.08%

Shares Outstanding

1.85M

Expense Ratio

0.39%

About Invesco S&P 500 Downside Hedged ETF

Issuer

Invesco Capital Management LLC

Brand

Invesco

Home Page

https://www.invesco.com/us/financial-products/etfs/product-detail?productId=ETF-PHDG

Inception Date

Dec 6, 2012

Structure

Open-Ended Fund

Index Tracked

Management Style

Active

Dividend Treatment

Distributes

Distribution Tax Treatment

Qualified dividends

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Invesco Capital Management LLC

Distributor

Invesco Distributors, Inc.

PHDG offers decidedly different exposure to US large-caps, although S&P 500 stocks play a starring role in its portfolio. The fund aims to stave off the impact of huge market downturns by holding a security that often spikes up when the S&P plummets: VIX futures. The challenge is that maintaining VIX futures exposure over time is expensive. Still, if the market tanks, PHDG will likely outperform while lagging when markets behave more normally. The bottom line: expect a very different pattern of returns for PHDG versus plain-vanilla funds in the same segment.