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Invesco Fundamental Hi Yld® Corp Bd ETF PHB

Analyst rating as of
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Morningstar’s Analysis

Will PHB outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

The fund continues to struggle to keep pace with its index and has been downgraded as a result.

Summary

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Invesco Fundamental High Yield Corporate Bond ETF PHB avoids the lowest-quality issuers in the high-yield corporate-bond market, but its weighting scheme tilts its portfolio toward smaller and less liquid bonds. As a result, the fund struggles to keep pace with its index, particularly during difficult periods in credit markets. These struggles have prevented it from delivering attractive risk-adjusted performance relative to its Morningstar Category index, the ICE Bank of America High Yield Index. As a result, we are downgrading its Process rating to Below Average from Average, which results in a downgrade to its overall Morningstar Analyst Rating to Negative from Neutral.

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