HEGD vs. PRPFX
Compare and contrast key facts about Swan Hedged Equity US Large Cap ETF (HEGD) and Permanent Portfolio Permanent Portfolio (PRPFX).
HEGD is a passively managed fund by Swan that tracks the performance of the S&P 500. It was launched on Dec 22, 2020. PRPFX is managed by Permanent Portfolio. It was launched on Nov 30, 1982.
Performance
HEGD vs. PRPFX - Performance Comparison
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HEGD vs. PRPFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HEGD Swan Hedged Equity US Large Cap ETF | -2.02% | 12.95% | 15.24% | 14.16% | -11.25% | 17.30% | 0.99% |
PRPFX Permanent Portfolio Permanent Portfolio | 2.72% | 28.78% | 19.36% | 11.96% | -5.48% | 10.87% | 0.64% |
Returns By Period
In the year-to-date period, HEGD achieves a -2.02% return, which is significantly lower than PRPFX's 2.72% return.
HEGD
- 1D
- 0.99%
- 1M
- -2.68%
- YTD
- -2.02%
- 6M
- -0.53%
- 1Y
- 13.19%
- 3Y*
- 12.41%
- 5Y*
- 7.91%
- 10Y*
- —
PRPFX
- 1D
- -0.31%
- 1M
- -7.34%
- YTD
- 2.72%
- 6M
- 8.96%
- 1Y
- 25.00%
- 3Y*
- 19.97%
- 5Y*
- 12.20%
- 10Y*
- 10.84%
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HEGD vs. PRPFX - Expense Ratio Comparison
HEGD has a 0.88% expense ratio, which is higher than PRPFX's 0.81% expense ratio.
Return for Risk
HEGD vs. PRPFX — Risk / Return Rank
HEGD
PRPFX
HEGD vs. PRPFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Swan Hedged Equity US Large Cap ETF (HEGD) and Permanent Portfolio Permanent Portfolio (PRPFX). 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.
| HEGD | PRPFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.66 | 1.86 | -0.20 |
Sortino ratioReturn per unit of downside risk | 2.47 | 2.31 | +0.16 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.40 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 3.04 | 3.07 | -0.03 |
Martin ratioReturn relative to average drawdown | 11.90 | 11.17 | +0.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HEGD | PRPFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.66 | 1.86 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 1.11 | -0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.03 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.80 | +0.10 |
Correlation
The correlation between HEGD and PRPFX is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
HEGD vs. PRPFX - Dividend Comparison
HEGD's dividend yield for the trailing twelve months is around 0.37%, less than PRPFX's 3.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEGD Swan Hedged Equity US Large Cap ETF | 0.37% | 0.36% | 0.43% | 0.39% | 0.87% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PRPFX Permanent Portfolio Permanent Portfolio | 3.18% | 3.27% | 1.86% | 1.39% | 1.58% | 2.05% | 5.38% | 4.69% | 6.90% | 2.14% | 0.95% | 7.06% |
Drawdowns
HEGD vs. PRPFX - Drawdown Comparison
The maximum HEGD drawdown since its inception was -14.56%, smaller than the maximum PRPFX drawdown of -27.16%. Use the drawdown chart below to compare losses from any high point for HEGD and PRPFX.
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Drawdown Indicators
| HEGD | PRPFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.56% | -27.16% | +12.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -8.10% | +3.71% |
Max Drawdown (5Y)Largest decline over 5 years | -14.56% | -15.49% | +0.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.84% | — |
Current DrawdownCurrent decline from peak | -3.44% | -8.10% | +4.66% |
Average DrawdownAverage peak-to-trough decline | -3.77% | -3.52% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 2.22% | -1.10% |
Volatility
HEGD vs. PRPFX - Volatility Comparison
The current volatility for Swan Hedged Equity US Large Cap ETF (HEGD) is 2.20%, while Permanent Portfolio Permanent Portfolio (PRPFX) has a volatility of 3.59%. This indicates that HEGD experiences smaller price fluctuations and is considered to be less risky than PRPFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEGD | PRPFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 3.59% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 4.94% | 11.32% | -6.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.99% | 13.77% | -5.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.41% | 11.04% | -1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.40% | 10.57% | -1.17% |