Invesco S&P 500 Quality ETF

Frequently Asked Questions About SPHQ

What does SPHQ invest in?

The Invesco S&P 500 Quality ETF (referred to as the Fund) is designed to replicate the investment performance of the S&P 500 Quality Index. The Fund typically allocates at least 90% of its total assets to the common stocks that constitute this Index. The underlying Index is composed of S&P 500 stocks identified by their top "quality score," which is systematically calculated based on three fundamental financial indicators: return on equity, accruals ratio, and financial leverage ratio. Both the Fund and its benchmark Index are rebalanced and reconstituted twice a year, specifically on the third Friday of June and December. As of August 31, 2025, the Fund has achieved strong Morningstar ratings. It received an impressive overall rating of 5 stars, placing it among 1,252 funds. For the 3-year period, it earned 4 stars out of 1,252 funds; for the 5-year period, 4 stars out of 1,149 funds; and for the 10-year period, a distinguished 5 stars out of 891 funds. Morningstar Inc. determines these ratings using a risk-adjusted return metric that evaluates fluctuations in a fund's monthly performance. This methodology places greater emphasis on mitigating downside variations while rewarding consistent performance. For comparative analysis, open-end mutual funds and exchange-traded funds are grouped within a single universe. Funds must possess a minimum of three years of performance history to be rated. The comprehensive overall rating is a weighted average of the 3-, 5-, and 10-year rating components, where applicable, and includes fees and expenses but excludes sales charges. ©2025 Morningstar Inc. All rights reserved. This information, being proprietary to Morningstar and/or its content providers, must not be copied or distributed. Its accuracy, completeness, or timeliness is not guaranteed. Neither Morningstar nor its content providers accept liability for any damages or losses stemming from its use. It is crucial to remember that past performance is not a predictor of future results. Star ratings are distributed as follows: the top 10% of funds in a category are awarded five stars, the subsequent 22.5% receive four stars, the middle 35% earn three stars, the next 22.5% get two stars, and the lowest 10% are assigned one star. Ratings are subject to monthly revision. Had fee waivers or expense reimbursements not been applied, the Morningstar rating would have been lower. Performance characteristics may vary across different share classes, potentially leading to different ratings.

What is the expense ratio of SPHQ?

Invesco S&P 500 Quality ETF (SPHQ) charges an expense ratio of 0.21%. This is the annual fee deducted from fund assets to cover management and operations.

How big is SPHQ?

Invesco S&P 500 Quality ETF (SPHQ) manages $19.62B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is SPHQ actively managed or an index fund?

SPHQ is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (SPHQ's is 0.21%) because there's no security selection cost.

When was SPHQ launched?

Invesco S&P 500 Quality ETF (SPHQ) launched in December 2005 and is managed by Invesco.

How has SPHQ performed?

SPHQ's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.