Parametric Hedged Equity ETF (PHEQ) belongs to the Options Trading category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PHEQ. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PHEQ
PHEQ charges 0.29% annually. There is 1 ETF in the Options Trading category with a lower expense ratio, going as low as 0.14%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Calamos Tax-Aware Collateral ETF | 0.14% | 1.21B | Apr 2026 | PHEQ vs CBOX | |
| State Street Real Estate Select Sector SPDR Premiu... | 0.35% | 2.87M | Jul 2025 | PHEQ vs XLRI | |
| Simplify Hedged Equity ETF | 0.43% | 296.16M | Nov 2021 | PHEQ vs HEQT | |
| Castellan Targeted Income ETF | 0.45% | — | Jun 2025 | PHEQ vs CTIF | |
| Amplify BlackSwan ISWN ETF | 0.49% | 36.53M | Jan 2021 | PHEQ vs ISWN |
Best Risk-Adjusted Alternatives to PHEQ
PHEQ has a PortfoliosLab risk / return rank of 88. There are 56 ETFs in the Options Trading category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator Premium Income 15 Buffer ETF - April | 99 | — | Mar 2024 | PHEQ vs LAPR | |
| Innovator Premium Income 30 Barrier ETF - April | 98 | 32.22M | Mar 2023 | PHEQ vs APRJ | |
| AllianzIM U.S. Large Cap Buffer20 Apr ETF | 98 | 199.47M | May 2020 | PHEQ vs APRW | |
| PGIM US Large-Cap Buffer 20 ETF - April | 98 | — | Mar 2024 | PHEQ vs PBAP | |
| FT Cboe Vest U.S. Equity Enhance & Moderate Buffer... | 98 | 153.67M | Mar 2023 | PHEQ vs XMAR |
Top Performing PHEQ Alternatives (YTD)
PHEQ is at 6.81% YTD. There are 72 ETFs in the Options Trading category with higher YTD returns, going as high as 90.29%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax AMD Option Income Strategy ETF | 90.29% | 382.78M | Sep 2023 | PHEQ vs AMDY | |
| Defiance Oil Enhanced Options Income ETF | 44.25% | 64.41M | May 2024 | PHEQ vs USOY | |
| Simplify Piper Sandler US Small-Cap PLUS Income ET... | 17.71% | 6.72M | Apr 2025 | PHEQ vs LITL | |
| Defiance R2000 Weekly Distribution ETF | 15.27% | 95.57M | Oct 2023 | PHEQ vs IWMY | |
| Horizon Dividend Income ETF | 14.73% | — | Jun 2025 | PHEQ vs DIVN |
Lowest Volatility Alternatives to PHEQ
PHEQ has 6.19% 1-year volatility. There are 71 ETFs in the Options Trading category with lower 1-year volatility, going as low as 1.30%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator Premium Income 15 Buffer ETF - April | 1.30% | — | Mar 2024 | PHEQ vs LAPR | |
| Alpha Architect Tail Risk ETF | 1.57% | 709.87M | Aug 2013 | PHEQ vs CAOS | |
| Innovator Premium Income 30 Barrier ETF - April | 1.57% | 32.22M | Mar 2023 | PHEQ vs APRJ | |
| Innovator Premium Income 30 Barrier ETF - July | 1.68% | 13.68M | Jun 2023 | PHEQ vs JULJ | |
| FT Vest U.S. Equity Buffer & Premium Income ETF - ... | 2.06% | — | Mar 2024 | PHEQ vs XIMR |
Lowest Drawdown Alternatives to PHEQ
PHEQ has a 1-year max drawdown of -4.26%. There are 62 ETFs in the Options Trading category with shallower 1-year drawdowns, going as shallow as -0.36%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator Premium Income 15 Buffer ETF - April | -0.36% | — | Mar 2024 | PHEQ vs LAPR | |
| Innovator Premium Income 30 Barrier ETF - April | -0.40% | 32.22M | Mar 2023 | PHEQ vs APRJ | |
| Innovator Premium Income 30 Barrier ETF - July | -0.61% | 13.68M | Jun 2023 | PHEQ vs JULJ | |
| Alpha Architect Tail Risk ETF | -0.76% | 709.87M | Aug 2013 | PHEQ vs CAOS | |
| AllianzIM U.S. Large Cap Buffer20 Apr ETF | -0.89% | 199.47M | May 2020 | PHEQ vs APRW |
Other ETFs from Parametric
The 1 most viewed Parametric ETFs shown here include PEPS and span 1 categories. AUM among these funds goes as high as $29M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Parametric Equity Plus ETF | Derivative Income | 76 | 11.42% | 29.05M | Nov 2024 | PHEQ vs PEPS |
Often Compared With PHEQ
Investors most often compare PHEQ with HELO, BUFD, SEPZ. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.
Compare PHEQ with Any Fund or Stock
Compare PHEQ with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PHEQ with funds that move differently
Parametric Hedged Equity ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PHEQ.
Explore PHEQ Diversifiers