PHDG vs. SVOL
Compare and contrast key facts about Invesco S&P 500 Downside Hedged ETF (PHDG) and Simplify Volatility Premium ETF (SVOL).
PHDG and SVOL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PHDG is a passively managed fund by Invesco that tracks the performance of the S&P 500 Dynamic VEQTOR Index. It was launched on Dec 6, 2012. SVOL is an actively managed fund by Simplify. It was launched on May 12, 2021.
Performance
PHDG vs. SVOL - Performance Comparison
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PHDG vs. SVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PHDG Invesco S&P 500 Downside Hedged ETF | 1.32% | 2.72% | 10.95% | 8.18% | -14.09% | 6.91% |
SVOL Simplify Volatility Premium ETF | -7.92% | 2.41% | 6.77% | 22.88% | -3.30% | 12.25% |
Returns By Period
In the year-to-date period, PHDG achieves a 1.32% return, which is significantly higher than SVOL's -7.92% return.
PHDG
- 1D
- 1.24%
- 1M
- -0.47%
- YTD
- 1.32%
- 6M
- 2.31%
- 1Y
- 5.85%
- 3Y*
- 6.85%
- 5Y*
- 3.87%
- 10Y*
- 5.84%
SVOL
- 1D
- 1.52%
- 1M
- -6.10%
- YTD
- -7.92%
- 6M
- -5.42%
- 1Y
- 3.66%
- 3Y*
- 6.05%
- 5Y*
- —
- 10Y*
- —
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PHDG vs. SVOL - Expense Ratio Comparison
PHDG has a 0.39% expense ratio, which is lower than SVOL's 0.50% expense ratio.
Return for Risk
PHDG vs. SVOL — Risk / Return Rank
PHDG
SVOL
PHDG vs. SVOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Downside Hedged ETF (PHDG) and Simplify Volatility Premium ETF (SVOL). 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.
| PHDG | SVOL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.56 | 0.09 | +0.46 |
Sortino ratioReturn per unit of downside risk | 0.78 | 0.45 | +0.33 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.06 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.74 | 0.17 | +0.57 |
Martin ratioReturn relative to average drawdown | 2.08 | 0.57 | +1.50 |
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
| PHDG | SVOL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 0.09 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.28 | +0.18 |
Correlation
The correlation between PHDG and SVOL is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PHDG vs. SVOL - Dividend Comparison
PHDG's dividend yield for the trailing twelve months is around 2.09%, less than SVOL's 23.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHDG Invesco S&P 500 Downside Hedged ETF | 2.09% | 2.10% | 1.94% | 1.93% | 1.35% | 0.44% | 0.63% | 1.80% | 1.56% | 1.83% | 2.29% | 1.64% |
SVOL Simplify Volatility Premium ETF | 23.14% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PHDG vs. SVOL - Drawdown Comparison
The maximum PHDG drawdown since its inception was -17.70%, smaller than the maximum SVOL drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for PHDG and SVOL.
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Drawdown Indicators
| PHDG | SVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.70% | -33.50% | +15.80% |
Max Drawdown (1Y)Largest decline over 1 year | -9.08% | -24.73% | +15.65% |
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 | -2.18% | -10.30% | +8.12% |
Average DrawdownAverage peak-to-trough decline | -6.32% | -4.74% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 7.46% | -4.20% |
Volatility
PHDG vs. SVOL - Volatility Comparison
The current volatility for Invesco S&P 500 Downside Hedged ETF (PHDG) is 2.76%, while Simplify Volatility Premium ETF (SVOL) has a volatility of 4.34%. This indicates that PHDG experiences smaller price fluctuations and is considered to be less risky than SVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHDG | SVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.76% | 4.34% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 6.33% | 13.82% | -7.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.61% | 38.84% | -28.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.91% | 22.28% | -11.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.89% | 22.28% | -10.39% |