Core Insights - The Invesco Water Resources ETF (PHO) provides targeted exposure to companies involved in water technology and infrastructure, focusing on growth opportunities in water conservation and purification [1] - Shepherd Wealth Management has initiated a significant position in PHO, purchasing 198,306 shares valued at approximately $39.47 million, which now represents 27.45% of their total assets under management (AUM) [4][5] Fund Performance - PHO has an annualized dividend yield of 0.51% and has seen an 8.2% increase in share price over the past year, although it underperformed the S&P 500 by 6 percentage points [2] - Over the last two decades, PHO has delivered annualized total returns of 8.7%, compared to the S&P 500's 10.8%, indicating a stable performance within a mature industry [7] Investment Strategy - The fund's non-diversified structure and expense ratio of 0.59% are designed for investors seeking focused exposure to water-related themes [2][7] - While the large investment by Shepherd Wealth Management may appear risky, the stability of PHO's holdings in the essential water sector is viewed positively [6][8]