PHO
Invesco Water Resources ETF
The Invesco Water Resources fund is based on the Palisades Water Index™. The Index seeks to identify a group of companies that focus on the provision of potable water, the treatment of water, and the technology and services that are directly related to water consumption.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 2.0 B
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Inception date | Dec 06, 2005 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| WATERS CORP | 9.6 % |
| ROPER TECHNOLOGIES, INC. | 8.2 % |
| FERGUSON ENTERPRISES INC | 7.9 % |
| ECOLAB INC | 7.5 % |
| AMERICAN WATER WORKS CO INC | 6.9 % |
| IDEX CORP | 4.6 % |
| MUELLER INDUSTRIES INC | 4.5 % |
| CORE & MAIN, INC. CLASS A | 3.9 % |
| VERALTO CORPORATION | 3.7 % |
| XYLEM INC | 3.7 % |
Constituent Breakdown
| Number of holdings | 39 |
| Herfindahl-Hirschman Index | 504 |
| Wgt avg mkt cap (mns) | $23,280 |
| Large cap (>$10bn) | 67.3% |
| Mid cap ($2-10bn) | 30.5% |
| Small cap (<$2bn) | 2.1% |
| Developed mkts. | 98.9% |
| Emerging mkts. | 1.1% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 94.7 % |
 |
BRITAIN | 3.2 % |
 |
BRAZIL | 1.1 % |
 |
CANADA | 0.9 % |
Historical Performance
Standardized Performance (as of 08/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 1.3% | -2.1% | 1.0% | 7.7% | 3.9% | 11.3% | 7.4% | 7.6% |
| Dividend Yield | 0.3% | 0.6% | 0.6% | 0.6% | 0.5% | 0.5% | 0.6% | 0.6% |
| Total Returns | 1.6% | -1.6% | 1.6% | 8.3% | 4.5% | 11.9% | 8.0% | 8.2% | Ann. Volatility | 16.9% | 16.2% | 17.2% | 16.7% | 18.6% | 19.5% | 23.3% | 23.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.64 | 26% |
| MSCI EAFE | 0.53 | 26% |
| MSCI Emg Mkts | 0.20 | 9% |
Liquidity Measures
| Avg. volume (000) | 76 |
| ADV traded (mns) | $5 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.13% |
Technical Indicators
| 30d moving avg. (EMA) | $70.59 |
| Relative strength (RSI) | 58 |
| MACD/Signal | 1.09/1.08 |
| Bollinger Bands (Upper/Lower) | $74.97/$66.66 |
| Short interest (% of AUM) | 0.2% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. PHO |
Expenses vs. PHO |
ALTAR Score™ vs. PHO |
|---|---|---|---|---|
| FIW | First Trust Water ETF | 68.5% | -7 bp | +0.1% |
| TBLU | Tortoise Global Water ESG ETF | 52.2% | -20 bp | -0.5% |
| AQWA | Global X Clean Water ETF | 46.3% | -10 bp | +0.2% |
| PIO | Invesco Global Water ETF | 44.0% | +15 bp | -0.3% |
| CGW | Invesco S&P Global Water Index ETF | 41.3% | -3 bp | -0.4% |
| EFRA | iShares Environmental Infrastructure and Industrials ETF | 35.7% | -13 bp | +0.1% |
| EBLU | Ecofin Global Water ESG Fund | 32.4% | -20 bp | -0.5% |
| EVX | VanEck Environmental Services ETF | 24.7% | -5 bp | -1.0% |
| SIMS | State Street SPDR S&P Kensho Intelligent Structures ETF | 21.2% | -15 bp | 0.0% |
| NVIR | Horizon Kinetics Energy and Remediation ETF | 12.5% | +25 bp | +0.0% |
Risk and Returns: PHO vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/6/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
5.6%
ALTAR SCORE™
58th
PERCENTILE
NEUTRAL
ETFRC RATING
There are 1,408 funds in the US Equity category with an average
ALTAR Score™ of 5.2% and a standard deviation
of 2.0%. PHO's ALTAR Score™ is approximately 0.2 standard
deviations above the category average. This places PHO in the 58th percentile
among funds in the category.
Sell-Side Consensus
$86.25
PRICE TARGET
+22.3%
UPSIDE