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PHO vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between PHO and SPY is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


Performance

PHO vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Water Resources ETF (PHO) and SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

300.00%350.00%400.00%450.00%500.00%550.00%600.00%December2025FebruaryMarchAprilMay
370.61%
538.81%
PHO
SPY

Key characteristics

Sharpe Ratio

PHO:

-0.03

SPY:

0.56

Sortino Ratio

PHO:

0.09

SPY:

0.92

Omega Ratio

PHO:

1.01

SPY:

1.14

Calmar Ratio

PHO:

-0.03

SPY:

0.59

Martin Ratio

PHO:

-0.10

SPY:

2.32

Ulcer Index

PHO:

6.24%

SPY:

4.80%

Daily Std Dev

PHO:

18.59%

SPY:

20.01%

Max Drawdown

PHO:

-55.63%

SPY:

-55.19%

Current Drawdown

PHO:

-9.07%

SPY:

-8.17%

Returns By Period

In the year-to-date period, PHO achieves a -0.43% return, which is significantly higher than SPY's -3.97% return. Over the past 10 years, PHO has underperformed SPY with an annualized return of 10.53%, while SPY has yielded a comparatively higher 12.19% annualized return.


PHO

YTD

-0.43%

1M

10.60%

6M

-9.01%

1Y

-2.11%

5Y*

14.48%

10Y*

10.53%

SPY

YTD

-3.97%

1M

11.26%

6M

-4.45%

1Y

9.89%

5Y*

15.66%

10Y*

12.19%

*Annualized

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PHO vs. SPY - Expense Ratio Comparison

PHO has a 0.60% expense ratio, which is higher than SPY's 0.09% expense ratio.


Risk-Adjusted Performance

PHO vs. SPY — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PHO
The Risk-Adjusted Performance Rank of PHO is 1717
Overall Rank
The Sharpe Ratio Rank of PHO is 1818
Sharpe Ratio Rank
The Sortino Ratio Rank of PHO is 1818
Sortino Ratio Rank
The Omega Ratio Rank of PHO is 1717
Omega Ratio Rank
The Calmar Ratio Rank of PHO is 1717
Calmar Ratio Rank
The Martin Ratio Rank of PHO is 1717
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 6262
Overall Rank
The Sharpe Ratio Rank of SPY is 5858
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 6060
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 6262
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 6565
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 6363
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

PHO vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Water Resources ETF (PHO) and SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.


The current PHO Sharpe Ratio is -0.03, which is lower than the SPY Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of PHO and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.00December2025FebruaryMarchAprilMay
-0.03
0.56
PHO
SPY

Dividends

PHO vs. SPY - Dividend Comparison

PHO's dividend yield for the trailing twelve months is around 0.51%, less than SPY's 1.28% yield.


TTM20242023202220212020201920182017201620152014
PHO
Invesco Water Resources ETF
0.51%0.45%0.59%0.49%0.20%0.39%0.43%0.46%0.34%0.47%0.75%0.59%
SPY
SPDR S&P 500 ETF
1.28%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

PHO vs. SPY - Drawdown Comparison

The maximum PHO drawdown since its inception was -55.63%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PHO and SPY. For additional features, visit the drawdowns tool.


-20.00%-15.00%-10.00%-5.00%0.00%December2025FebruaryMarchAprilMay
-9.07%
-8.17%
PHO
SPY

Volatility

PHO vs. SPY - Volatility Comparison

The current volatility for Invesco Water Resources ETF (PHO) is 9.26%, while SPDR S&P 500 ETF (SPY) has a volatility of 12.55%. This indicates that PHO experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%5.00%10.00%15.00%December2025FebruaryMarchAprilMay
9.26%
12.55%
PHO
SPY