PHDG ETF — Invesco S&P 500® Downside Hedged ETF

Invesco S&P 500® Downside Hedged ETF (PHDG)

Updated October 16, 2026.

PHDG is an ETF. its distribution rate is 1.21%, its trailing-12-month yield is 1.42%, its expense ratio is 0.39%. Dividend Vision Distribution Safety Score™ is 77/100 (Generally safe). Total return is 112.5% over the past 13.9 years, 470.9 points behind SPY at 583.4%.

Invesco S&P 500® Downside Hedged ETF is an ETF that seeks to reduce downside risk by combining exposure to S&P 500 Index stocks with a volatility hedge through VIX futures and cash allocations. The fund distributes quarterly with a modest current distribution rate and carries an expense ratio of 0.39%. It may appeal to equity investors seeking some downside protection during market volatility while maintaining core S&P 500 exposure.

PHDG performance versus SPY

Price and return data through 2026-10-16.

Total return is 112.5% over the past 13.9 years, 470.9 points behind SPY at 583.4%. Over the past year its total return — price change plus distributions reinvested — is 9.7%. Its deepest 1-year drawdown was 6.8%.

PHDG key facts

Distribution Safety Score™

77 · Generally safe

Safety-Adjusted Yield

0.93%

Issuer

Invesco

Asset type

ETF

Asset class

Equity

Inception date

12/06/2012

Expense ratio

0.39%

Distribution rate

1.21%

Distribution frequency

Quarterly

Trailing yield

1.42%

Last close

$41.20 (as of 2026-10-16)

AUM

$62,569,106

Average volume

476.0

Dividend

$0.125

Ex-dividend date

09/21/2026

Payment date

09/25/2026

Beta

0.68

How Dividend Vision calculates yield and returns

Distribution rate (1.21%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (1.42%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Invesco; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

PHDG risks and drawbacks

PHDG's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 6.8%.

Who may consider PHDG — and who may not

It is a weaker fit for investors who need monthly cash flow (PHDG pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on PHDG

• All tickers starting with P

Tagged: Hedged, S&P500, Large Cap, Index.

Frequently asked questions

More securities from Invesco.