PHDG vs. ONEH
PHDG (Invesco S&P 500 Downside Hedged ETF) and ONEH (TrueShares Equity Hedge ETF) are both Equity Hedged funds. PHDG is passively managed, while ONEH is actively managed. At a 0.03 correlation, their price movements are largely independent. PHDG charges 0.39%/yr vs 0.79%/yr for ONEH.
Performance
PHDG vs. ONEH - Performance Comparison
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Returns By Period
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%
ONEH
- 1D
- -0.38%
- 1M
- 0.75%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PHDG vs. ONEH - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
PHDG Invesco S&P 500 Downside Hedged ETF | 8.70% |
ONEH TrueShares Equity Hedge ETF | -1.20% |
Correlation
The correlation between PHDG and ONEH is 0.03, 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 29, 2026 | 0.03 |
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Return for Risk
PHDG vs. ONEH — Risk / Return Rank
PHDG
ONEH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PHDG vs. ONEH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Downside Hedged ETF (PHDG) and TrueShares Equity Hedge ETF (ONEH). 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 | ONEH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.39 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.93 | — | — |
| Martin ratioReturn relative to average drawdown | 17.30 | — | — |
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Drawdowns
PHDG vs. ONEH - Drawdown Comparison
The maximum PHDG drawdown since its inception was -17.70%, which is greater than ONEH's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for PHDG and ONEH.
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Drawdown Indicators
| PHDG | ONEH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.70% | -3.55% | -14.15% |
Max Drawdown (1Y)Largest decline over 1 year | -5.48% | — | — |
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% | -1.20% | -3.81% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -1.51% | -4.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | — | — |
Volatility
PHDG vs. ONEH - Volatility Comparison
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Volatility by Period
| PHDG | ONEH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.74% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 9.73% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.39% | 5.38% | +6.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.40% | 5.38% | +6.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.15% | 5.38% | +6.77% |
PHDG vs. ONEH - Expense Ratio Comparison
PHDG has a 0.39% expense ratio, which is lower than ONEH's 0.79% expense ratio.
Dividends
PHDG vs. ONEH - Dividend Comparison
PHDG's dividend yield for the trailing twelve months is around 2.28%, while ONEH has not paid dividends to shareholders.
| 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 | 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 ONEH have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
PHDG is cheaper with a 0.39% expense ratio, compared with 0.79% for ONEH.
PHDG has the higher dividend yield at 2.28%, compared with 0.00% for ONEH.
They also come from different issuers: Invesco and TrueShares. Their fees differ too: 0.39% for PHDG and 0.79% for ONEH.
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