Invesco Fundamental High Yield Corporate Bond ETF PHB avoids the lowest-quality issuers in the high-yield corporate bond market, along with the drawbacks of market-value weighting. However, the strategy’s weighting scheme does not specifically address an issuer’s ability to repay its obligations, focusing instead on equity-centric metrics. As a result, the fund earns a Morningstar Analyst Rating of Neutral.
Invesco Fundamental Hi Yld® Corp Bd ETF PHB
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Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will PHB outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PHB’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the PHB management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of PHB’s parent organization’s priorities and whether they’re in line with investors’ interests.
While this fund avoids the riskiest debt, there is more to be desired.
