PHO: Lacks Real Economic Exposure To This Important Natural Asset

  • Water resources are defined as natural resources of water useful for humans, and given their significant economic value, investors may want to invest in companies that own or maintain them. PHO uses a rather irregular definition of water resources, instead aiming to own companies which conserve and purify water. Many of the companies owned by the ETF generate only a small portion of their revenues from business operations connected to water.