PHDG vs. VIRT
PHDG (Invesco S&P 500 Downside Hedged ETF) is Equity Hedged fund tracking the S&P 500 Dynamic VEQTOR Index, while VIRT (Virtu Financial, Inc.) is a stock. Over the past 10 years, PHDG returned 7.14%/yr vs 18.05%/yr for VIRT. Their 0.12 correlation means their historical movements had little consistent relationship.
Performance
PHDG vs. VIRT - Performance Comparison
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Returns By Period
In the year-to-date period, PHDG achieves a 9.47% return, which is significantly lower than VIRT's 81.20% return. Over the past 10 years, PHDG has underperformed VIRT with an annualized return of 7.14%, while VIRT has yielded a comparatively higher 18.05% annualized return.
PHDG
- 1D
- -0.16%
- 1M
- 0.44%
- 6M
- 8.74%
- YTD
- 9.47%
- 1Y
- 14.71%
- 3Y*
- 8.21%
- 5Y*
- 4.01%
- 10Y*
- 7.14%
- ALL TIME*
- 5.56%
VIRT
- 1D
- 0.12%
- 1M
- -2.15%
- 6M
- 62.47%
- YTD
- 81.20%
- 1Y
- 38.30%
- 3Y*
- 52.81%
- 5Y*
- 23.17%
- 10Y*
- 18.05%
- ALL TIME*
- 13.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.28M | $774.65K | $908.35K | |
| $75.83M | $74.91M | $74.80M |
PHDG vs. VIRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHDG Invesco S&P 500 Downside Hedged ETF | 9.47% | 2.72% | 10.95% | 8.18% | -14.09% | 15.67% | 18.97% | 8.57% | -2.44% | 15.89% |
VIRT Virtu Financial, Inc. | 81.20% | -4.24% | 83.03% | 4.61% | -26.51% | 18.58% | 64.42% | -34.86% | 45.96% | 21.52% |
Correlation
The correlation between PHDG and VIRT is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2015 | 0.12 |
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Return for Risk
PHDG vs. VIRT — Risk / Return Rank
PHDG
VIRT
PHDG vs. VIRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Downside Hedged ETF (PHDG) and Virtu Financial, Inc. (VIRT). 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 | VIRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.22 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 1.46 | +0.92 |
| Martin ratioReturn relative to average drawdown | 7.41 | 2.68 | +4.73 |
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Drawdowns
PHDG vs. VIRT - Drawdown Comparison
The maximum PHDG drawdown since its inception was -17.70%, smaller than the maximum VIRT drawdown of -56.17%. Use the drawdown chart below to compare losses from any high point for PHDG and VIRT.
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Drawdown Indicators
| PHDG | VIRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.70% | -56.17% | +38.47% |
Max Drawdown (1Y)Largest decline over 1 year | -6.36% | -27.30% | +20.94% |
Max Drawdown (3Y)Largest decline over 3 years | -14.78% | -27.83% | +13.05% |
Max Drawdown (5Y)Largest decline over 5 years | -17.06% | -54.52% | +37.46% |
Max Drawdown (10Y)Largest decline over 10 years | -17.06% | -56.17% | +39.11% |
Current DrawdownCurrent decline from peak | -5.95% | -10.60% | +4.65% |
Average DrawdownAverage peak-to-trough decline | -6.23% | -25.46% | +19.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 14.83% | -12.79% |
Volatility
PHDG vs. VIRT - Volatility Comparison
The current volatility for Invesco S&P 500 Downside Hedged ETF (PHDG) is 2.14%, while Virtu Financial, Inc. (VIRT) has a volatility of 14.15%. This indicates that PHDG experiences smaller price fluctuations and is considered to be less risky than VIRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHDG | VIRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.14% | 14.15% | -12.01% |
Volatility (6M)Calculated over the trailing 6-month period | 9.37% | 27.24% | -17.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.41% | 32.11% | -20.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.37% | 32.78% | -21.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.10% | 36.06% | -23.96% |
Dividends
PHDG vs. VIRT - Dividend Comparison
PHDG's dividend yield for the trailing twelve months is around 1.70%, more than VIRT's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHDG Invesco S&P 500 Downside Hedged ETF | 1.70% | 2.10% | 1.94% | 1.93% | 1.35% | 0.44% | 0.63% | 1.80% | 1.56% | 1.83% | 2.29% | 1.64% |
VIRT Virtu Financial, Inc. | 1.61% | 2.88% | 2.69% | 4.74% | 4.70% | 3.33% | 3.81% | 6.00% | 3.73% | 5.25% | 6.02% | 2.12% |
Frequently Asked Questions
PHDG and VIRT have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIRT has higher volatility (14.15%) compared to PHDG (2.14%). In terms of maximum drawdown, PHDG dropped -17.70% vs VIRT's -56.17%.
PHDG currently has the higher Sharpe Ratio (1.33 vs 1.24), 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.
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