PHDG — Invesco S&P 500 Downside Hedged ETF ☆

The investment seeks to achieve positive total returns in rising or falling markets that are not directly correlated to broad equity or fixed income market returns. The fund uses a quantitative, rules based strategy to allocate its assets among components of the S&P 500® Dynamic VEQTOR Index in a combination of (i) equity securities contained in the S&P 500® Index and that are listed on a U.S. securities exchange, (ii) Chicago Board Options Exchange Volatility Index related instruments, such as listed VIX Index futures contracts that reflect exposure to the S&P 500® VIX Short Term Futures Index, and (iii) money market instruments, cash and cash equivalents.