ADME vs. PHDG

Last updated Jun 4, 2026

ADME (Aptus Drawdown Managed Equity ETF) and PHDG (Invesco S&P 500 Downside Hedged ETF) are both exchange-traded funds - ADME is a Hedge Fund fund tracking the Aptus Behavioral Momentum Index, while PHDG is a Equity Hedged fund tracking the S&P 500 Dynamic VEQTOR Index. Both are passively managed. Over the past 5 years, ADME returned 8.23%/yr vs 5.45%/yr for PHDG. A 0.59 correlation means they provide meaningful diversification when combined. ADME charges 0.79%/yr vs 0.39%/yr for PHDG.

Performance

ADME vs. PHDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus Drawdown Managed Equity ETF (ADME) and Invesco S&P 500 Downside Hedged ETF (PHDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADME achieves a 9.81% return, which is significantly lower than PHDG's 13.79% return.

ADME

• 1D: -0.72%
• 1M: 4.45%
• YTD: 9.81%
• 6M: 8.93%
• 1Y: 20.89%
• 3Y*: 17.40%
• 5Y*: 8.23%
• 10Y*: —

PHDG

• 1D: -0.63%
• 1M: 4.88%
• YTD: 13.79%
• 6M: 11.91%
• 1Y: 25.21%
• 3Y*: 10.77%
• 5Y*: 5.45%
• 10Y*: 7.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ADME vs. PHDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ADME Aptus Drawdown Managed Equity ETF	9.81%	10.28%	22.11%	15.42%	-21.80%	20.24%	18.21%	9.31%	-6.05%	17.58%
PHDG Invesco S&P 500 Downside Hedged ETF	13.79%	2.72%	10.95%	8.18%	-14.09%	15.67%	18.97%	8.57%	-2.44%	15.89%

Correlation

The correlation between ADME and PHDG is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 10, 2016	0.59

The correlation between ADME and PHDG shifts across timeframes, from 0.59 (all time) to 0.72 (1 year), reflecting how their relationship changes across market environments.

ADME vs. PHDG - Sectors Allocation Comparison

Sectors	ADME	PHDG
Technology	35.2%	35.1%
Financial Services	11.9%	11.9%
Communication Services	11.3%	11.0%
Consumer Cyclical	10.2%	10.1%
Healthcare	8.4%	8.7%
Industrials	8.3%	8.3%
Consumer Defensive	5.0%	5.0%
Energy	3.6%	3.6%
Utilities	2.3%	2.4%
Real Estate	2.0%	1.9%
Basic Materials	1.7%	1.8%

Return for Risk

ADME vs. PHDG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADME

ADME Risk / Return Rank: 62
ADME Sharpe Ratio Rank: 62
ADME Sortino Ratio Rank: 64
ADME Omega Ratio Rank: 60
ADME Calmar Ratio Rank: 56
ADME Martin Ratio Rank: 66

PHDG

PHDG Risk / Return Rank: 90
PHDG Sharpe Ratio Rank: 86
PHDG Sortino Ratio Rank: 90
PHDG Omega Ratio Rank: 85
PHDG Calmar Ratio Rank: 94
PHDG Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADME vs. PHDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus Drawdown Managed Equity ETF (ADME) and Invesco S&P 500 Downside Hedged ETF (PHDG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ADME	PHDG	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.88	-0.77
Sortino ratio: Return per unit of downside risk	3.01	4.23	-1.22
Omega ratio: Gain probability vs. loss probability	1.37	1.53	-0.16
Calmar ratio: Return relative to maximum drawdown	2.80	7.19	-4.38
Martin ratio: Return relative to average drawdown	12.23	26.70	-14.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADME vs. PHDG - Sharpe Ratio Comparison

The current ADME Sharpe Ratio is 2.11, which is comparable to the PHDG Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of ADME and PHDG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ADME	PHDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.88	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.50	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.53	+0.10

Drawdowns

ADME vs. PHDG - Drawdown Comparison

The maximum ADME drawdown since its inception was -27.49%, which is greater than PHDG's maximum drawdown of -17.70%. Use the drawdown chart below to compare losses from any high point for ADME and PHDG.

Drawdown Indicators

	ADME	PHDG	Difference
Max Drawdown Largest peak-to-trough decline	-27.49%	-17.70%	-9.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.49%	-3.52%	-3.97%
Max Drawdown (3Y) Largest decline over 3 years	-15.67%	-14.78%	-0.89%
Max Drawdown (5Y) Largest decline over 5 years	-23.43%	-17.06%	-6.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-17.06%	—
Current Drawdown Current decline from peak	-0.72%	-0.87%	+0.15%
Average Drawdown Average peak-to-trough decline	-7.92%	-6.25%	-1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	0.95%	+0.76%

Volatility

ADME vs. PHDG - Volatility Comparison

Aptus Drawdown Managed Equity ETF (ADME) and Invesco S&P 500 Downside Hedged ETF (PHDG) have volatilities of 2.99% and 3.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADME	PHDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	3.07%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	7.69%	6.64%	+1.05%
Volatility (1Y) Calculated over the trailing 1-year period	9.95%	8.81%	+1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.87%	10.92%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.40%	11.92%	+2.48%

ADME vs. PHDG - Expense Ratio Comparison

ADME has a 0.79% expense ratio, which is higher than PHDG's 0.39% expense ratio.

Dividends

ADME vs. PHDG - Dividend Comparison

ADME's dividend yield for the trailing twelve months is around 0.37%, less than PHDG's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADME Aptus Drawdown Managed Equity ETF	0.37%	0.38%	0.47%	0.78%	0.73%	0.26%	0.41%	0.70%	0.86%	0.32%	0.69%	0.00%
PHDG Invesco S&P 500 Downside Hedged ETF	1.86%	2.10%	1.94%	1.93%	1.35%	0.44%	0.63%	1.80%	1.56%	1.83%	2.29%	1.64%

Frequently Asked Questions

Can I hold both ADME and PHDG in my portfolio?

ADME and PHDG have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADME or PHDG?

PHDG has higher volatility (3.07%) compared to ADME (2.99%). In terms of maximum drawdown, ADME dropped -27.49% vs PHDG's -17.70%.

Which ETF is better, ADME or PHDG?

On 5-year performance, ADME leads with 8.23% vs 5.45% for PHDG. On fees, PHDG is cheaper at 0.39% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADME or PHDG?

Over the 5-year period, ADME has performed better with a 8.23% return vs 5.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADME or PHDG?

PHDG is cheaper with a 0.39% expense ratio, compared with 0.79% for ADME.

Which ETF pays a higher dividend yield, ADME or PHDG?

PHDG has the higher dividend yield at 1.86%, compared with 0.37% for ADME.

What is the main difference between ADME and PHDG?

ADME is categorized as Hedge Fund, while PHDG is Equity Hedged. ADME tracks Aptus Behavioral Momentum Index, while PHDG tracks S&P 500 Dynamic VEQTOR Index. They also come from different issuers: Aptus Capital Advisors and Invesco. Their fees differ too: 0.79% for ADME and 0.39% for PHDG.

Which has better risk-adjusted returns?

PHDG currently has the higher Sharpe Ratio (2.88 vs 2.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.