The description clearly says 'half of any PHYSICAL damage is redirected at you'.
Instead this skill acts like Life Barrier and Bond put together. It redirects half of any damage the pet takes to you, be it physical, elemental, shadow, chaos or holy. It really does hurt when your pet is trying to tank Shadow Beasts/Abyssal taking massive damage from Mark of Pain and Spiteful Spirit when half of it keeps coming straight back at you. I should've learnt by lesson and stopped using it when i soloed the forest... but i forgot and ended up getting killed by the Air spikes redirected through my pet
