Invesco Fundamental High Yield Corporate Bond ETF

Frequently Asked Questions About PHB

What does PHB invest in?

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 generally invest at least 80% of its total assets in the securities that comprise the Index. The Underlying Index is comprised of U.S. dollar-denominated high yield corporate bonds which are SEC-registered securities, Section 3(a)(2) securities, or Rule 144A securities under the Securities Act and whose issuers are public companies domiciled in the United States. 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 does not purchase all of the securities in the Index; instead, the Fund utilizes a "sampling" methodology to seek to achieve its investment objective. The Fund and the Index are rebalanced monthly and reconstituted annually in March.

What is the expense ratio of PHB?

Invesco Fundamental High Yield Corporate Bond ETF (PHB) charges an expense ratio of 0.50%. This is the annual fee deducted from fund assets to cover management and operations.

What is PHB's dividend yield?

PHB's trailing-twelve-month yield is 5.75%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of PHB?

Effective duration measures PHB's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PHB's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of PHB?

PHB's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of PHB?

Yield to maturity (YTM) is the total return you'd earn from PHB if every bond in the portfolio is held to maturity at the current price. PHB's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.