Is PHO a good investment?

Invesco Water Resources ETF (PHO) is a real-assets ETF. As of September 11, 2026, ETF Copilot scores PHO 4.5 out of 10 — highest on Valuation (8.2), lowest on Quality (2.8). Its ten largest holdings are 58% of the fund.

Updated September 11, 2026

How is PHO rated? ETF Copilot scores Invesco Water Resources ETF (PHO) 4.5 out of 10

As of September 11, 2026, ETF Copilot scores Invesco Water Resources ETF (PHO) 4.5 out of 10 overall.

ETF Copilot scores (0–10 scale, higher is better):

Overall: 4.5 / 10
Growth: 4.6 / 10
Valuation: 8.2 / 10
Risk: 4.0 / 10
Quality: 2.8 / 10
Return: 3.3 / 10

What is PHO's expense ratio? 0.59% a year

As of September 11, 2026, PHO charges 0.59% a year, yields 0.85% and holds $2.0B in assets across 40 positions.

Invesco Water Resources ETF (PHO) — cost, income and size
Measure	PHO
Expense ratio	0.59%
Dividend yield	0.85%
Assets under management	$2.0B
Holdings	40

Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.

What stands out in PHO's data

U.S. water conservation stocks, held through a thematic index.

Trades at a higher price than the typical real-assets fund — you pay more for the same earnings.

Trailing P/E multiple of 24.7x sits above the category median of 16.4x, though below its own three-year median of 27.0x. Its 0.59% expense ratio is also above average.

A thematic growth engine for portfolios betting on water infrastructure and efficiency.

Why did PHO move this week? It fell 3.3% in the week to September 11, 2026 — Roper Technologies and Idexx Labs drove it

PHO fell 3.3% in the week to September 11, 2026. The holdings that moved it most were Roper Technologies (−8.0%), Idexx Labs (−4.6%) and Bentley Systems (−13.0%); Valmont Industries (+1.8%) pushed the other way.

What's inside PHO? 12% Tech

What's inside PHO: Size (Large 42%, Mid 49%, Small 9%); Geography (International 11%, US 89%); Tech 12.4%.

What are PHO's top holdings? The ten largest are 58% of the fund

Roper Technologies, Ecolab, Waters, Ferguson Enterprises, Idexx Labs, Veralto, American Water Works, Agilent Technologies, Xylem and Idex are PHO's largest holdings, in that order.

More concentrated than 79% of Thematic - Real Assets ETFs.

Half of PHO's weight sits in its 8 largest positions, and once those weights are taken into account it behaves like 21 equally weighted holdings.

Cite this

ETF Copilot, “Invesco Water Resources ETF (PHO) scores and holdings analysis”, as of September 11, 2026.
https://etf-copilot.com/etf/pho