ETF Research and Analysis

by Phillip Yoo, CAIA
Suitability
Invesco Fundamental High Yield Corporate Bond PHB is an index fund that offers an alternative approach to market-cap weighting at a reasonable expense ratio. However, the weighting approach is somewhat arbitrary, and the   Read more 

Bull Case

BB rated bonds, which account for more than half of the portfolio, have historically offered attractive risk-adjusted returns.
The fund excludes the lowest-credit-quality bonds. Read more 

Bear Case

The fund's weighting approach is not directly related to credit quality or expected returns.
The fund has lagged its benchmark by more than the amount of its expense ratio.
There are cheaper alternatives. Read more 

Do thematic ETFs belong in your portfolio? 
Watch more 

Premium Membership

View all of our analyst reports with a free trial to Morningstar.com Premium.