PHDG vs. IBIC
PHDG (Invesco S&P 500 Downside Hedged ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - PHDG is a Equity Hedged fund tracking the S&P 500 Dynamic VEQTOR Index, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, PHDG returned 21.44% vs 4.38% for IBIC. At a correlation of -0.00, they often move in opposite directions. PHDG charges 0.39%/yr vs 0.10%/yr for IBIC.
Performance
PHDG vs. IBIC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PHDG achieves a 10.56% return, which is significantly higher than IBIC's 2.39% return.
PHDG
- 1D
- -0.33%
- 1M
- -1.88%
- YTD
- 10.56%
- 6M
- 10.62%
- 1Y
- 21.44%
- 3Y*
- 9.78%
- 5Y*
- 4.89%
- 10Y*
- 7.12%
IBIC
- 1D
- 0.06%
- 1M
- 0.08%
- YTD
- 2.39%
- 6M
- 2.49%
- 1Y
- 4.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PHDG vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PHDG Invesco S&P 500 Downside Hedged ETF | 10.56% | 2.72% | 10.95% | 6.43% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.39% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between PHDG and IBIC is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | -0.00 |
The correlation between PHDG and IBIC shifts across timeframes, from -0.12 (1 year) to -0.00 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PHDG vs. IBIC — Risk / Return Rank
PHDG
IBIC
PHDG vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Downside Hedged ETF (PHDG) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PHDG | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.05 | ||
| Sortino ratioReturn per unit of downside risk | -6.27 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 2.21 | -0.82 |
| Calmar ratioReturn relative to maximum drawdown | 3.93 | 16.41 | -12.48 |
| Martin ratioReturn relative to average drawdown | 17.30 | 58.11 | -40.81 |
Loading charts...
Drawdowns
PHDG vs. IBIC - Drawdown Comparison
The maximum PHDG drawdown since its inception was -17.70%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for PHDG and IBIC.
Loading charts...
Drawdown Indicators
| PHDG | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.70% | -0.90% | -16.80% |
Max Drawdown (1Y)Largest decline over 1 year | -5.48% | -0.27% | -5.21% |
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 DrawdownCurrent decline from peak | -5.01% | -0.11% | -4.90% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -0.10% | -6.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 0.08% | +1.16% |
Volatility
PHDG vs. IBIC - Volatility Comparison
Invesco S&P 500 Downside Hedged ETF (PHDG) has a higher volatility of 7.74% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.16%. This indicates that PHDG's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PHDG | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.74% | 0.16% | +7.58% |
Volatility (6M)Calculated over the trailing 6-month period | 9.73% | 0.67% | +9.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.39% | 0.89% | +10.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.40% | 1.57% | +9.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.15% | 1.57% | +10.58% |
PHDG vs. IBIC - Expense Ratio Comparison
PHDG has a 0.39% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
PHDG vs. IBIC - Dividend Comparison
PHDG's dividend yield for the trailing twelve months is around 2.28%, less than IBIC's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.59% | 4.43% | 4.65% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PHDG Invesco S&P 500 Downside Hedged ETF | 2.28% | 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
PHDG and IBIC have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PHDG has higher volatility (7.74%) compared to IBIC (0.16%). In terms of maximum drawdown, PHDG dropped -17.70% vs IBIC's -0.90%.
On 1-year performance, PHDG leads with 21.44% vs 4.38% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PHDG has performed better with a 21.44% return vs 4.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.39% for PHDG.
IBIC has the higher dividend yield at 3.59%, compared with 2.28% for PHDG.
PHDG is categorized as Equity Hedged, while IBIC is Inflation-Protected Bonds. PHDG tracks S&P 500 Dynamic VEQTOR Index, while IBIC tracks ICE 2026 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.39% for PHDG and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.94 vs 1.90), 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.
Find the right allocation for PHDG and IBIC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer