ETF Evaluator: Invesco S&P 500® High Beta ETF (SPHB) Follow This ETF

Invesco S&P 500® High Beta ETF Overview

Invesco S&P 500® High Beta ETF (SPHB) is a passively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). Invesco launched the ETF in 2011.

The investment seeks to track the investment results (before fees and expenses) of the S&P 500® High Beta Index (the "underlying index"). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC compiles, maintains and calculates the index, which is designed to measure the performance of the 100 constituents of the S&P 500® Index that have the highest sensitivity to market returns, or “beta,” over the past 12 months as determined by the index provider. The fund is non-diversified.

About Invesco S&P 500® High Beta ETF (SPHB)

There are 3 members of the management team with an average tenure of 12.28 years: Peter Hubbard (2011), Michael Jeanette (2011) and Pratik Doshi (2019). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and S&P 500 High Beta TR USD index with a weighting of 100%. Invesco S&P 500® High Beta ETF has 101 securities in its portfolio. The top 10 holdings constitute 18.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Invesco S&P 500® High Beta ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Invesco S&P 500® High Beta ETF has 0.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.3% There is 0.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Invesco S&P 500® High Beta ETF has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $1 billion in total assets, which is below the $4 billion average for the Mid-Cap Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

SPHB Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco S&P 500® High Beta ETF expense ratio is below average compared to funds in the Mid-Cap Blend category. Invesco S&P 500® High Beta ETF has an expense ratio of 0.25%, which is 45% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco S&P 500® High Beta ETF has a portfolio turnover rate of 85%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Mid-Cap Blend category.

Recently, in the month of June 2026, Invesco S&P 500® High Beta ETF returned 3.9%, which earned it a grade of B, as the Mid-Cap Blend category had an average return of 3.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Invesco S&P 500® High Beta ETF has a trailing yield of 0.52%, which is below the 0.85% category average. The fund normally distributes its income quarterly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Invesco S&P 500® High Beta ETF Grades

Year to date, the ETF has returned 33.5%, 17.4 percentage points better than the category, which translates into a grade of A. The fund has returned 60.7% over the past year (grade of A), 27.7% over the past three years (grade of A) and 16.4% per year over the past five years (grade of A) and 19.7% per year over the past 10 years (grade of A).

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