HEGD vs. QQHG

Last updated Jun 5, 2026

HEGD (Swan Hedged Equity US Large Cap ETF) and QQHG (Invesco QQQ Hedged Advantage ETF) are both Equity Hedged funds. HEGD is passively managed, while QQHG is actively managed. Over the past year, HEGD returned 18.32% vs 26.49% for QQHG. Their correlation of 0.86 suggests significant overlap in exposure. HEGD charges 0.88%/yr vs 0.45%/yr for QQHG.

Performance

HEGD vs. QQHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Swan Hedged Equity US Large Cap ETF (HEGD) and Invesco QQQ Hedged Advantage ETF (QQHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEGD achieves a 7.10% return, which is significantly lower than QQHG's 10.80% return.

HEGD

• 1D: 0.24%
• 1M: 3.09%
• YTD: 7.10%
• 6M: 6.51%
• 1Y: 18.32%
• 3Y*: 14.78%
• 5Y*: 9.09%
• 10Y*: —

QQHG

• 1D: -0.57%
• 1M: 3.42%
• YTD: 10.80%
• 6M: 10.03%
• 1Y: 26.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HEGD vs. QQHG - Yearly Performance Comparison

	2026 (YTD)	2025
HEGD Swan Hedged Equity US Large Cap ETF	7.10%	13.86%
QQHG Invesco QQQ Hedged Advantage ETF	10.80%	20.59%

Correlation

The correlation between HEGD and QQHG is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 8, 2025	0.86

The correlation between HEGD and QQHG has been stable across timeframes, ranging from 0.86 to 0.86 - a consistent structural relationship.

Return for Risk

HEGD vs. QQHG — Risk / Return Rank

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

HEGD

HEGD Risk / Return Rank: 83
HEGD Sharpe Ratio Rank: 83
HEGD Sortino Ratio Rank: 85
HEGD Omega Ratio Rank: 82
HEGD Calmar Ratio Rank: 81
HEGD Martin Ratio Rank: 83

QQHG

QQHG Risk / Return Rank: 85
QQHG Sharpe Ratio Rank: 87
QQHG Sortino Ratio Rank: 88
QQHG Omega Ratio Rank: 85
QQHG Calmar Ratio Rank: 83
QQHG Martin Ratio Rank: 84

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.

HEGD vs. QQHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Swan Hedged Equity US Large Cap ETF (HEGD) and Invesco QQQ Hedged Advantage ETF (QQHG). 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	QQHG	Difference
Sharpe ratio: Return per unit of total volatility	2.65	2.83	-0.17
Sortino ratio: Return per unit of downside risk	3.79	3.93	-0.14
Omega ratio: Gain probability vs. loss probability	1.49	1.51	-0.03
Calmar ratio: Return relative to maximum drawdown	4.20	4.30	-0.11
Martin ratio: Return relative to average drawdown	16.65	17.10	-0.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEGD vs. QQHG - Sharpe Ratio Comparison

The current HEGD Sharpe Ratio is 2.65, which is comparable to the QQHG Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of HEGD and QQHG, 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

	HEGD	QQHG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	2.83	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	3.26	-2.20

Drawdowns

HEGD vs. QQHG - Drawdown Comparison

The maximum HEGD drawdown since its inception was -14.56%, which is greater than QQHG's maximum drawdown of -6.18%. Use the drawdown chart below to compare losses from any high point for HEGD and QQHG.

Drawdown Indicators

	HEGD	QQHG	Difference
Max Drawdown Largest peak-to-trough decline	-14.56%	-6.18%	-8.38%
Max Drawdown (1Y) Largest decline over 1 year	-4.39%	-6.18%	+1.79%
Max Drawdown (3Y) Largest decline over 3 years	-8.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.56%	—	—
Current Drawdown Current decline from peak	-0.39%	-0.82%	+0.43%
Average Drawdown Average peak-to-trough decline	-3.66%	-0.97%	-2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	1.55%	-0.45%

Volatility

HEGD vs. QQHG - Volatility Comparison

Swan Hedged Equity US Large Cap ETF (HEGD) and Invesco QQQ Hedged Advantage ETF (QQHG) have volatilities of 2.29% and 2.20%, 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

	HEGD	QQHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.29%	2.20%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	4.95%	6.69%	-1.74%
Volatility (1Y) Calculated over the trailing 1-year period	6.94%	9.43%	-2.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.40%	9.54%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.35%	9.54%	-0.19%

HEGD vs. QQHG - Expense Ratio Comparison

HEGD has a 0.88% expense ratio, which is higher than QQHG's 0.45% expense ratio.

Dividends

HEGD vs. QQHG - Dividend Comparison

HEGD's dividend yield for the trailing twelve months is around 0.33%, more than QQHG's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021
HEGD Swan Hedged Equity US Large Cap ETF	0.33%	0.36%	0.43%	0.39%	0.87%	0.31%
QQHG Invesco QQQ Hedged Advantage ETF	0.20%	0.17%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HEGD and QQHG in my portfolio?

HEGD and QQHG have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HEGD or QQHG?

HEGD has higher volatility (2.29%) compared to QQHG (2.20%). In terms of maximum drawdown, HEGD dropped -14.56% vs QQHG's -6.18%.

Which ETF is better, HEGD or QQHG?

On 1-year performance, QQHG leads with 26.49% vs 18.32% for HEGD. On fees, QQHG is cheaper at 0.45% 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, HEGD or QQHG?

Over the 1-year period, QQHG has performed better with a 26.49% return vs 18.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HEGD or QQHG?

QQHG is cheaper with a 0.45% expense ratio, compared with 0.88% for HEGD.

Which ETF pays a higher dividend yield, HEGD or QQHG?

HEGD has the higher dividend yield at 0.33%, compared with 0.20% for QQHG.

What is the main difference between HEGD and QQHG?

They also come from different issuers: Swan and Invesco. Their fees differ too: 0.88% for HEGD and 0.45% for QQHG.

Which has better risk-adjusted returns?

QQHG currently has the higher Sharpe Ratio (2.83 vs 2.65), 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.