PHO vs USTB

Comparison between INVESCO WATER RESOURCES ETF (PHO, ETF) and VICTORYSHARES SHORT-TERM BOND ETF FORMERLY VICTORYSHARES USAA CORE SHORT-TERM BOND ETF VICTORYSHARES SHORT-TERM BOND ETF (USTB, ETF).

5-Year PerformancePHO has outperformed USTB, delivering a return of +5.4% compared to +3.5%

PHO vs USTB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PHO(ETF)	USTB(ETF)
Net Assets	$2B	$2B
Expense Ratio	0.59%	0.34%
Max Drawdown	55.80%	7.56%
Sharpe Ratio	0.10	0.98
5Y Beta	0.75	0.01
P/E Ratio	25.22	N/A
Forward P/E	19.55	N/A
PEG Ratio	1.12	N/A
5Y Dividends CAGR	18.44%	15.32%
5Y EPS CAGR	14.32%	N/A
Debt to Equity	45.92%	N/A
P/S Ratio	2.56	N/A
P/B Ratio	3.60	N/A

Net Assets

PHO

$2B

USTB

$2B

Expense Ratio

PHO

0.59%

Winner

USTB

0.34%

Max Drawdown

PHO

55.80%

Winner

USTB

7.56%

Sharpe Ratio

PHO

0.10

Winner

USTB

0.98

5Y Beta

PHO

0.75

Winner

USTB

0.01

P/E Ratio

PHO

25.22

USTB

N/A

Forward P/E

PHO

19.55

USTB

N/A

PEG Ratio

PHO

1.12

USTB

N/A

5Y Dividends CAGR

Winner

PHO

18.44%

USTB

15.32%

5Y EPS CAGR

PHO

14.32%

USTB

N/A

Debt to Equity

PHO

45.92%

USTB

N/A

P/S Ratio

PHO

2.56

USTB

N/A

P/B Ratio

PHO

3.60

USTB

N/A

PHO vs USTB - Historical Returns

Returns include dividend reinvestment.

Period	PHO	USTB
1 month	-2.32%	+0.50%
3 months	-7.50%	+0.54%
6 months	-5.88%	+1.81%
1 year	+1.88%	+5.06%
5 years(CAGR)	+5.40%	+3.50%
10 years(CAGR)	+12.09%	+3.47%
Max(CAGR)	+8.09%	+3.47%

PHO

-2.32%

Winner

USTB

+0.50%

PHO

-7.50%

Winner

USTB

+0.54%

PHO

-5.88%

Winner

USTB

+1.81%

PHO

+1.88%

Winner

USTB

+5.06%

5Y(CAGR)

Winner

PHO

+5.40%

USTB

+3.50%

10Y(CAGR)

Winner

PHO

+12.09%

USTB

+3.47%

Max(CAGR)

Winner

PHO

+8.09%

USTB

+3.47%

PHO vs USTB - Annual Returns (2005 - 2026)

Returns include dividend reinvestment.

Year	PHO	USTB
2026	-4.38%	+1.07%
2025	+8.35%	+6.13%
2024	+9.45%	+6.81%
2023	+18.88%	+6.57%
2022	-13.39%	-2.72%
2021	+33.29%	+0.89%
2020	+20.69%	+5.00%
2019	+38.21%	+4.99%
2018	-6.42%	+1.12%
2017	+22.55%	+0.35%
2016	+15.29%	N/A
2015	-15.22%	N/A
2014	+0.50%	N/A
2013	+23.97%	N/A
2012	+21.89%	N/A
2011	-11.75%	N/A
2010	+10.95%	N/A
2009	+13.91%	N/A
2008	-31.50%	N/A
2007	+17.56%	N/A
2006	+20.64%	N/A
2005	-1.72%	N/A

PHO vs USTB Drawdown Comparison

The maximum drawdown for PHO was -55.62%, occurring on Mar 9, 2009. Recovery took 1170 trading sessions.

The maximum drawdown for USTB was -5.32%, occurring on Mar 24, 2020. Recovery took 65 trading sessions.

The current PHO drawdown is -9.07%.

Rank	PHO	USTB
#1	-55.62% Jun 5, 2008 - Jan 29, 2013	-5.32% Mar 4, 2020 - Jun 5, 2020
#2	-34.92% Feb 14, 2020 - Oct 7, 2020	-4.96% Sep 9, 2021 - Jul 13, 2023
#3	-29.70% Jun 20, 2014 - Apr 25, 2017	-1.02% Aug 30, 2023 - Nov 3, 2023
#4	-28.60% Dec 31, 2021 - Dec 19, 2023	-0.84% Feb 27, 2026 - May 1, 2026
#5	-19.38% Oct 10, 2007 - May 30, 2008	-0.81% Dec 29, 2017 - Aug 6, 2018
#6	-19.19% Dec 3, 2024 - Aug 12, 2025	-0.68% Sep 27, 2024 - Dec 3, 2024
#7	-18.31% May 9, 2006 - Jan 31, 2007	-0.67% Jul 13, 2023 - Aug 4, 2023
#8	-17.89% Sep 20, 2018 - Feb 13, 2019	-0.65% Apr 3, 2025 - Apr 28, 2025
#9	-11.98% Oct 21, 2025 - Mar 27, 2026	-0.62% Sep 4, 2019 - Oct 2, 2019
#10	-10.10% Jul 19, 2007 - Sep 19, 2007	-0.48% Apr 4, 2024 - May 2, 2024
#11	-9.51% Jan 26, 2018 - Aug 6, 2018	-0.46% Jan 31, 2024 - Mar 1, 2024
#12	-8.59% May 21, 2013 - Jul 15, 2013	-0.43% Aug 8, 2023 - Aug 25, 2023
#13	-8.20% Sep 2, 2021 - Nov 12, 2021	-0.40% Sep 21, 2018 - Nov 16, 2018
#14	-7.90% Feb 23, 2007 - Apr 20, 2007	-0.40% Oct 4, 2019 - Nov 22, 2019
#15	-7.80% Mar 20, 2013 - May 17, 2013	-0.38% Aug 2, 2024 - Aug 21, 2024

Correlation

Correlation between PHO and USTB is 0.94 which considered as a very strong positive correlation - the stocks move almost identically together.

0.94

-101

Dividend Comparison (2005 - 2026)

PHO vs USTB dividend yield comparison.

Year	PHO	USTB
2026	0.15%	1.56%
2025	0.54%	4.63%
2024	0.45%	5.05%
2023	0.59%	4.49%
2022	0.49%	2.54%
2021	0.20%	1.84%
2020	0.39%	2.59%
2019	0.43%	2.69%
2018	0.46%	2.32%
2017	0.34%	0.43%
2016	0.47%	0.00%
2015	0.75%	0.00%
2014	0.59%	0.00%
2013	0.49%	0.00%
2012	0.87%	0.00%
2011	0.64%	0.00%
2010	0.54%	0.00%
2009	0.69%	0.00%
2008	0.55%	0.00%
2007	0.40%	0.00%
2006	0.82%	0.00%
2005	0.22%	0.00%