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The Invesco Fundamental High Yield Corporate Bond ETF (Fund) is based on the RAFI Bonds US High Yield 1-10 Index (Index). The Fund will normally invest at least 80% of its total assets in high-yield corporate bonds that comprise the Index. The Index is comprised of US dollar-denominated bonds that are registered with the SEC or that are Rule 144A securities that provide for registration rights and whose issuers are public companies listed on a major US stock exchange. Only investible non-convertible, non-exchangeable, non-zero, fixed coupon high-yield corporate bonds qualify for inclusion in the Index. Based on the Fundamental Index methodology developed by Research Affiliates, LLC, the Index is compiled and calculated by ALM Research Solutions, LLC. The Fund and the Index are rebalanced monthly and reconstituted annually in March.
Invesco Fundamental High Yield Corporate Bond ETF trades on the ARCA stock market under the symbol PHB.
As of May 13, 2024, PHB stock price was flat at $18.01 with 109,554 million shares trading.
PHB has a beta of 0.35, meaning it tends to be less sensitive to market movements. PHB has a correlation of 0.53 to the broad based SPY ETF.
PHB has a market cap of $642.96 million. This is considered a Small Cap stock.
In the last 3 years, PHB stock traded as high as $19.69 and as low as $16.35.
PHB has underperformed the market in the last year with a price return of +8.4% while the SPY ETF gained +27.8%. PHB has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +0.7% and +1.1%, respectively, while the SPY returned +4.3% and +2.5%, respectively.
PHB support price is $17.95 and resistance is $18.07 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PHB stock will trade within this expected range on the day.