Designed to provide broad exposure to the Industrials - Water segment of the equity market, the Invesco Water Resources ETF (PHO) is a passively managed exchange traded fund launched on December 6, 2005.Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.Sector ETFs also provide investors access to a broad group of companies in partic ...