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ETFs

Invesco Fundamental High Yield Corporate Bond ETF

PHB
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Nov 15 2007
Expense Ratio
0.50%
Type
US Bonds
Fund Owner
Invesco
Volume (1m avg. daily)
$4,237,663
AUM
$569,029,560
Associated Index
RAFI Bonds US High Yield 1-10 Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

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1.38%
Invest with PHB

What is PHB?

The Invesco Fundamental High Yield Corporate Bond ETF (Fund) is based on the RAFI Bonds US High Yield 1-10 Index (Index). The Fund will normally invest at least 80% of its total assets in high-yield corporate bonds that comprise the Index. The Index is comprised of US dollar-denominated bonds that are registered with the SEC or that are Rule 144A securities that provide for registration rights and whose issuers are public companies listed on a major US stock exchange. Only investible non-convertible, non-exchangeable, non-zero, fixed coupon high-yield corporate bonds qualify for inclusion in the Index. Based on the Fundamental Index methodology developed by Research Affiliates, LLC, the Index is compiled and calculated by ALM Research Solutions, LLC. The Fund and the Index are rebalanced monthly and reconstituted annually in March.

ETFs related toPHB

ETFs correlated to PHB include HYG, HYDW, JNK

PHB
Invesco Capital Management LLC - Invesco Fundamental High Yield Corporate Bond ETF
HYG
BlackRock Institutional Trust Company N.A. - iShares iBoxx USD High Yield Corporate Bond ETF
HYDW
DBX ETF Trust - Xtrackers Low Beta High Yield Bond ETF
JNK
SPDR Series Trust - SPDR Bloomberg High Yield Bond ETF
HYLB
DBX ETF Trust - Xtrackers USD High Yield Corporate Bond ETF
USHY
BlackRock Institutional Trust Company N.A. - iShares Broad USD High Yield Corporate Bond ETF
WFHY
WisdomTree Trust - WisdomTree U.S. High Yield Corporate Bond Fund
BBHY
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan BetaBuilders USD High Yield Corporate Bond ETF
BKHY
BNY Mellon ETF Trust - BNY Mellon High Yield Beta ETF
UJB
ProShares Trust - ProShares Ultra High Yield 2x Shares
SHYG
BlackRock Institutional Trust Company N.A. - iShares 0-5 Year High Yield Corporate Bond ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toPHB

#INC

Dynamic Income

Category

Composer's Picks

Risk Rating

Moderate

#DYNAM

Dynamic Stocks and Bonds

Category

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Risk Rating

Moderate

Create your own algorithmic trading strategy with PHB using Composer

FAQ

PHB is a US Bonds ETF. The Invesco Fundamental High Yield Corporate Bond ETF (Fund) is based on the RAFI Bonds US High Yield 1-10 Index (Index). The Fund will normally invest at least 80% of its total assets in high-yield corporate bonds that comprise the Index. The Index is comprised of US dollar-denominated bonds that are registered with the SEC or that are Rule 144A securities that provide for registration rights and whose issuers are public companies listed on a major US stock exchange. Only investible non-convertible, non-exchangeable, non-zero, fixed coupon high-yield corporate bonds qualify for inclusion in the Index. Based on the Fundamental Index methodology developed by Research Affiliates, LLC, the Index is compiled and calculated by ALM Research Solutions, LLC. The Fund and the Index are rebalanced monthly and reconstituted annually in March.

PHB tracks the RAFI Bonds US High Yield 1-10 Index.

No, PHB is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, PHB is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on PHB is 0.0251%. This is the percent change in the value of PHB over the most recent 1-month period. The 3-month return on PHB is 0.031%. This is the percent change in the value of PHB over the most recent 3-month period.

The standard deviation of PHB for the past year is 0.1039%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to PHB include USIG, IGIB, and LQD.

ETFs correlated to PHB include HYG, HYDW, and JNK.

ETFs that are inversely correlated to PHB include SJB, HIBS, and SH.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.