Invesco S&P 500 Quality ETF (SPHQ) Expected Move

Tracking the SPHQ expected move helps you see how far Invesco S&P 500 Quality ETF's options market is pricing the stock to travel over a given period — whether that's the next day, week, or earnings cycle. Invesco S&P 500 Quality ETF's expected move is derived directly from option premiums and gives you an objective range to plan trades, set strikes, and manage risk. Use our scanner to monitor the SPHQ expected move for this week's options, in real time.

The expected move is typically calculated from at-the-money straddle prices (or a blend of straddles and strangles) and represents roughly a one-standard-deviation range over the chosen timeframe. For SPHQ, comparing the implied expected move to actual realized moves over similar windows tells you whether the options market has historically overestimated or underestimated volatility. The SPHQ expected move for this week's options pricing is especially useful for short-dated traders, earnings players, and anyone selling premium who needs to know where the market thinks Invesco S&P 500 Quality ETF is unlikely to go.

The Invesco S&P 500 Quality ETF (Fund) is based on the S&P 500 Quality Index (Index).The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index tracks the performance of stocks in the S&P 500 Index that have the highest quality score, which is calculated based on three fundamental measures, return on equity, accruals ratio and financial leverage ratio. The Fund and the Index are rebalanced and reconstituted semi-annually on the third Friday of June and December. As of 08/31/2025 the Fund had an overall rating of 5 stars out of 1252 funds and was rated 4 stars out of 1252 funds, 4 stars out of 1149 funds and 5 stars out of 891 funds for the 3-, 5- and 10- year periods, respectively.

Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2025 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.

Iron condors, weekly premium sales, directional swing trades — they all live or die by where the market thinks the stock won't go. Our scanner tracks the SPHQ expected move across every expiration, benchmarks it against realized moves, and shows you when implied ranges are out of line with history. The Invesco S&P 500 Quality ETF expected move for this week's options is the fastest read on short-term risk, which gives you a quick way to interpret what the options market thinks about SPHQ.