ONEH vs. PHDG

Last updated Jun 5, 2026

ONEH (TrueShares Equity Hedge ETF) and PHDG (Invesco S&P 500 Downside Hedged ETF) are both Equity Hedged funds. ONEH is actively managed, while PHDG is passively managed. At a 0.01 correlation, their price movements are largely independent. ONEH charges 0.79%/yr vs 0.39%/yr for PHDG.

Performance

ONEH vs. PHDG - Performance Comparison

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

Returns By Period

ONEH

• 1D: 0.47%
• 1M: 0.45%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PHDG

• 1D: 1.44%
• 1M: 5.27%
• YTD: 15.43%
• 6M: 13.92%
• 1Y: 26.83%
• 3Y*: 11.64%
• 5Y*: 5.75%
• 10Y*: 7.32%

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

ONEH vs. PHDG - Yearly Performance Comparison

	2026 (YTD)
ONEH TrueShares Equity Hedge ETF	-1.72%
PHDG Invesco S&P 500 Downside Hedged ETF	13.59%

Correlation

The correlation between ONEH and PHDG is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 30, 2026	0.01

Return for Risk

ONEH vs. PHDG — Risk / Return Rank

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

PHDG

PHDG Risk / Return Rank: 92
PHDG Sharpe Ratio Rank: 90
PHDG Sortino Ratio Rank: 92
PHDG Omega Ratio Rank: 89
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.

ONEH vs. PHDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Equity Hedge ETF (ONEH) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ONEH	PHDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.03	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.53	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.05	0.54	-1.59

Drawdowns

ONEH vs. PHDG - Drawdown Comparison

The maximum ONEH drawdown since its inception was -3.55%, smaller than the maximum PHDG drawdown of -17.70%. Use the drawdown chart below to compare losses from any high point for ONEH and PHDG.

Drawdown Indicators

	ONEH	PHDG	Difference
Max Drawdown Largest peak-to-trough decline	-3.55%	-17.70%	+14.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.52%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.06%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.06%	—
Current Drawdown Current decline from peak	-1.72%	0.00%	-1.72%
Average Drawdown Average peak-to-trough decline	-1.58%	-6.24%	+4.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.95%	—

Volatility

Volatility by Period

	ONEH	PHDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.71%	8.91%	-4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.71%	10.94%	-6.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.71%	11.93%	-7.22%

ONEH vs. PHDG - Expense Ratio Comparison

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

Dividends

ONEH vs. PHDG - Dividend Comparison

ONEH has not paid dividends to shareholders, while PHDG's dividend yield for the trailing twelve months is around 1.84%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEH TrueShares Equity Hedge ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PHDG Invesco S&P 500 Downside Hedged ETF	1.84%	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 ONEH and PHDG in my portfolio?

ONEH and PHDG have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ONEH or PHDG?

On fees, PHDG is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ONEH or PHDG?

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

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

PHDG has the higher dividend yield at 1.84%, compared with 0.00% for ONEH.

What is the main difference between ONEH and PHDG?

They also come from different issuers: TrueShares and Invesco. Their fees differ too: 0.79% for ONEH and 0.39% for PHDG.