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.
Will PHB outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
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.
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.
The Parent Pillar is our rating of PHB’s parent organization’s priorities and whether they’re in line with investors’ interests.