PHO
Invesco Water Resources ETF
The Invesco Water Resources fund is based on the Palisades Water Index™. The Index seeks to identify a group of companies that focus on the provision of potable water, the treatment of water, and the technology and services that are directly related to water consumption.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
2.3 B
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Fund sponsor | Invesco |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 06, 2005 |
| Assets (mns) | $2,313 |
| Expense ratio | 60 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ROPER TECHNOLOGIES, INC. | 8.0 % |
| FERGUSON ENTERPRISES INC | 7.9 % |
| ECOLAB INC | 7.8 % |
| XYLEM INC | 6.2 % |
| VERALTO CORPORATION | 6.0 % |
| PENTAIR PLC | 4.8 % |
| IDEX CORP | 4.5 % |
| AECOM TECHNOLOGY CORP | 4.3 % |
| WATERS CORP | 4.2 % |
| ITRON INC | 4.0 % |
Constituent Breakdown
| Number of holdings | 38 |
| Herfindahl-Hirschman Index | 467 |
| Wgt avg mkt cap (mns) | $18,944 |
| Large cap (>$10bn) | 63.6% |
| Mid cap ($2-10bn) | 26.9% |
| Small cap (<$2bn) | 2.9% |
| Developed mkts. | 98.8% |
| Emerging mkts. | 1.2% |
Country Exposure
 |
UNITED STATES | 93.4 % |
 |
BRITAIN | 4.8 % |
 |
BRAZIL | 1.2 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 12.5% | 35.0% | 17.1% | 6.2% | 13.7% | 10.7% | 8.9% | Volatility | 15.0% | 15.2% | 16.7% | 19.4% | 23.1% | 19.6% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.07 | 80% |
| MSCI EAFE | 0.98 | 70% |
| MSCI Emg Mkts | 0.68 | 32% |
Liquidity Measures
| Avg. volume (000) | 74 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.09% |
| ADV of underlying (mns) | $2,526 |
Technical Indicators
| Recent close | $71.12 |
| 30d moving avg. | $69.80 |
| Annualized volatility | 20.8% |
| Relative strength (RSI) | 47 |
| Short interest (ETF) | 0.3% |
| Short interest (underlying) | 1.8% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. PHO |
Expenses vs. PHO |
ALTAR Score™ vs. PHO |
|---|---|---|---|---|
| FIW | First Trust Water ETF | 72.4% | -7 bp | +0.2% |
| AQWA | Global X Clean Water ETF | 54.4% | -10 bp | -0.1% |
| PIO | Invesco Global Water ETF | 44.4% | +15 bp | +0.8% |
| CGW | Invesco S&P Global Water Index ETF | 43.8% | -3 bp | +0.1% |
| EFRA | iShares Environmental Infrastructure and Industrials ETF | 31.8% | -13 bp | +0.5% |
| EBLU | Ecofin Global Water ESG Fund | 31.6% | -20 bp | +0.6% |
| SIMS | SPDR S&P Kensho Intelligent Structures ETF | 20.4% | -15 bp | -11.0% |
| IWTR | iShares MSCI Water Management Multisector ETF | 16.8% | -13 bp | +0.7% |
| NVIR | Horizon Kinetics Energy and Remediation ETF | 16.2% | +25 bp | -2.8% |
| AHOY | Newday Ocean Health ETF | 15.0% | +15 bp | +1.8% |
Risk and Returns: PHO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/22/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
PHO
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
PHO
4.3%
Cat. Avg
5.3%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.3% and a standard deviation of
2.4%. PHO's ALTAR Score™ is approximately
0.4 standard deviations
below
the category average. This places PHO in the 33rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PHOSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| PHO (60 bp) Percentile rank | 67 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PHO | 60.0 | 8.7 | 68.7 |
| Peer Avg. | 46.6 | 16.9 | 63.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .