PSFO vs. PHEQ

Last updated Jun 4, 2026

PSFO (Pacer Swan SOS Flex (October) ETF) and PHEQ (Parametric Hedged Equity ETF) are both Options Trading funds. Both are actively managed. Over the past year, PSFO returned 17.64% vs 15.97% for PHEQ. A 0.76 correlation means they provide meaningful diversification when combined. PSFO charges 0.60%/yr vs 0.29%/yr for PHEQ.

Performance

PSFO vs. PHEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Flex (October) ETF (PSFO) and Parametric Hedged Equity ETF (PHEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSFO achieves a 6.62% return, which is significantly higher than PHEQ's 5.67% return.

PSFO

• 1D: -0.19%
• 1M: 2.42%
• YTD: 6.62%
• 6M: 7.21%
• 1Y: 17.64%
• 3Y*: 13.19%
• 5Y*: —
• 10Y*: —

PHEQ

• 1D: -0.18%
• 1M: 1.64%
• YTD: 5.67%
• 6M: 6.14%
• 1Y: 15.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSFO vs. PHEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PSFO Pacer Swan SOS Flex (October) ETF	6.62%	12.93%	10.78%	7.58%
PHEQ Parametric Hedged Equity ETF	5.67%	11.76%	14.94%	7.19%

Correlation

The correlation between PSFO and PHEQ is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023	0.76

The correlation between PSFO and PHEQ shifts across timeframes, from 0.76 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.

PSFO vs. PHEQ - Sectors Allocation Comparison

Sectors	PSFO	PHEQ
Technology	36.2%	35.4%
Financial Services	11.9%	11.3%
Communication Services	10.9%	11.8%
Consumer Cyclical	10.1%	10.2%
Healthcare	8.4%	8.6%
Industrials	8.1%	8.3%
Consumer Defensive	4.9%	5.0%
Energy	3.5%	3.7%
Utilities	2.3%	2.4%
Real Estate	1.9%	1.6%
Basic Materials	1.8%	1.7%

Return for Risk

PSFO vs. PHEQ — Risk / Return Rank

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

PSFO

PSFO Risk / Return Rank: 77
PSFO Sharpe Ratio Rank: 75
PSFO Sortino Ratio Rank: 79
PSFO Omega Ratio Rank: 80
PSFO Calmar Ratio Rank: 69
PSFO Martin Ratio Rank: 83

PHEQ

PHEQ Risk / Return Rank: 82
PHEQ Sharpe Ratio Rank: 80
PHEQ Sortino Ratio Rank: 86
PHEQ Omega Ratio Rank: 84
PHEQ Calmar Ratio Rank: 75
PHEQ Martin Ratio Rank: 84

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.

PSFO vs. PHEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Flex (October) ETF (PSFO) and Parametric Hedged Equity ETF (PHEQ). 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.

	PSFO	PHEQ	Difference
Sharpe ratio: Return per unit of total volatility	2.43	2.62	-0.18
Sortino ratio: Return per unit of downside risk	3.54	3.92	-0.39
Omega ratio: Gain probability vs. loss probability	1.48	1.52	-0.04
Calmar ratio: Return relative to maximum drawdown	3.41	3.77	-0.36
Martin ratio: Return relative to average drawdown	16.51	17.21	-0.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSFO vs. PHEQ - Sharpe Ratio Comparison

The current PSFO Sharpe Ratio is 2.43, which is comparable to the PHEQ Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of PSFO and PHEQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PSFO	PHEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	2.62	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	1.80	-0.64

Drawdowns

PSFO vs. PHEQ - Drawdown Comparison

The maximum PSFO drawdown since its inception was -12.09%, roughly equal to the maximum PHEQ drawdown of -12.55%. Use the drawdown chart below to compare losses from any high point for PSFO and PHEQ.

Drawdown Indicators

	PSFO	PHEQ	Difference
Max Drawdown Largest peak-to-trough decline	-12.09%	-12.55%	+0.46%
Max Drawdown (1Y) Largest decline over 1 year	-5.20%	-4.26%	-0.94%
Max Drawdown (3Y) Largest decline over 3 years	-12.09%	—	—
Current Drawdown Current decline from peak	-0.19%	-0.18%	-0.01%
Average Drawdown Average peak-to-trough decline	-1.75%	-0.97%	-0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	0.93%	+0.14%

Volatility

PSFO vs. PHEQ - Volatility Comparison

Pacer Swan SOS Flex (October) ETF (PSFO) and Parametric Hedged Equity ETF (PHEQ) have volatilities of 1.05% and 1.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSFO	PHEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.05%	1.05%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	5.49%	4.56%	+0.93%
Volatility (1Y) Calculated over the trailing 1-year period	7.29%	6.16%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.05%	8.62%	+1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.05%	8.62%	+1.43%

PSFO vs. PHEQ - Expense Ratio Comparison

PSFO has a 0.60% expense ratio, which is higher than PHEQ's 0.29% expense ratio.

Dividends

PSFO vs. PHEQ - Dividend Comparison

PSFO has not paid dividends to shareholders, while PHEQ's dividend yield for the trailing twelve months is around 1.03%.

Position	TTM	2025	2024	2023
PHEQ Parametric Hedged Equity ETF	1.03%	1.19%	1.39%	1.73%
PSFO Pacer Swan SOS Flex (October) ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSFO and PHEQ in my portfolio?

PSFO and PHEQ have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSFO or PHEQ?

PHEQ has higher volatility (1.05%) compared to PSFO (1.05%). In terms of maximum drawdown, PSFO dropped -12.09% vs PHEQ's -12.55%.

Which ETF is better, PSFO or PHEQ?

On 1-year performance, PSFO leads with 17.64% vs 15.97% for PHEQ. On fees, PHEQ is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSFO or PHEQ?

Over the 1-year period, PSFO has performed better with a 17.64% return vs 15.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSFO or PHEQ?

PHEQ is cheaper with a 0.29% expense ratio, compared with 0.60% for PSFO.

Which ETF pays a higher dividend yield, PSFO or PHEQ?

PHEQ has the higher dividend yield at 1.03%, compared with 0.00% for PSFO.

What is the main difference between PSFO and PHEQ?

They also come from different issuers: Pacer and Parametric. Their fees differ too: 0.60% for PSFO and 0.29% for PHEQ.

Which has better risk-adjusted returns?

PHEQ currently has the higher Sharpe Ratio (2.62 vs 2.43), 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.