Invesco Global Short Term High Yield Bond ETF (PGHY)

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Invesco Global Short Term High Yield Bond ETF (PGHY) is up 2.5% since the beginning of the year. PGHY is currently trading at $20 per share. Investors who bought $1,000 worth of PGHY shares 5 years ago would now be looking at an investment worth $1,250.

Invesco Global Short Term High Yield Bond ETF (PGHY) has returned 2.46% so far this year and 7.51% over the past 12 months. Over the last ten years, PGHY has returned 4.38% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jun 21, 2013, PGHY's average daily return is +0.02%, while the average monthly return is +0.35%. At this rate, an investment would double in approximately 16.5 years.

Historically, 65% of months were positive and 35% were negative. The best month was Apr 2020 with a return of +4.2%, while the worst month was Mar 2020 at -11.6%. The longest winning streak lasted 16 consecutive months, and the longest losing streak was 4 months.

On a daily basis, PGHY closed higher 50% of trading days. The best single day was Mar 26, 2020 with a return of +5.4%, while the worst single day was Mar 18, 2020 at -8.4%.

Invesco Global Short Term High Yield Bond ETF has an annualized alpha of 2.46%, beta of 0.14, and R2 of 0.12 versus S&P 500 Index. Calculated based on daily prices since June 21, 2013.

• This ETF participated in 24.73% of S&P 500 Index downside but only 23.35% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.14 may look defensive, but with R2 of 0.12 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R2 of 0.12 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PGHY has an expense ratio of 0.35%, placing it in the medium range.

PGHY ranks 47 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

Invesco Global Short Term High Yield Bond ETF provided a 7.71% dividend yield over the last twelve months, with an annual payout of $1.52 per share.

The table displays the monthly dividend distributions for Invesco Global Short Term High Yield Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Invesco Global Short Term High Yield Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Invesco Global Short Term High Yield Bond ETF was 20.50%, occurring on Mar 18, 2020. Recovery took 175 trading sessions.

The current Invesco Global Short Term High Yield Bond ETF drawdown is 0.64%.

The chart below shows the rolling one-month volatility.