QQHG vs. HEGD

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco QQQ Hedged Advantage ETF (QQHG) and Swan Hedged Equity US Large Cap ETF (HEGD).

QQHG and HEGD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQHG is an actively managed fund by Invesco. It was launched on May 5, 2025. HEGD is a passively managed fund by Swan that tracks the performance of the S&P 500. It was launched on Dec 22, 2020.

Performance

QQHG vs. HEGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Hedged Advantage ETF (QQHG) and Swan Hedged Equity US Large Cap ETF (HEGD). The values are adjusted to include any dividend payments, if applicable.

QQHG vs. HEGD - Yearly Performance Comparison

	2026 (YTD)	2025
QQHG Invesco QQQ Hedged Advantage ETF	-1.76%	20.59%
HEGD Swan Hedged Equity US Large Cap ETF	-1.73%	13.86%

Returns By Period

The year-to-date returns for both investments are quite close, with QQHG having a -1.76% return and HEGD slightly higher at -1.73%.

QQHG

• 1D: 0.79%
• 1M: -2.23%
• YTD: -1.76%
• 6M: 0.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEGD

• 1D: 0.30%
• 1M: -2.38%
• YTD: -1.73%
• 6M: -0.47%
• 1Y: 13.14%
• 3Y*: 12.52%
• 5Y*: 7.98%
• 10Y*: —

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

QQHG vs. HEGD - Expense Ratio Comparison

QQHG has a 0.45% expense ratio, which is lower than HEGD's 0.88% expense ratio.

HEGD

Swan Hedged Equity US Large Cap ETF

QQHG

Invesco QQQ Hedged Advantage ETF

Return for Risk

QQHG vs. HEGD — Risk / Return Rank

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

HEGD

HEGD Risk / Return Rank: 86
HEGD Sharpe Ratio Rank: 82
HEGD Sortino Ratio Rank: 87
HEGD Omega Ratio Rank: 79
HEGD Calmar Ratio Rank: 90
HEGD Martin Ratio Rank: 89

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.

QQHG vs. HEGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Hedged Advantage ETF (QQHG) and Swan Hedged Equity US Large Cap ETF (HEGD). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QQHG	HEGD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.65	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.17	0.91	+1.26

Correlation

The correlation between QQHG and HEGD is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QQHG vs. HEGD - Dividend Comparison

QQHG's dividend yield for the trailing twelve months is around 0.23%, less than HEGD's 0.36% yield.

	TTM	2025	2024	2023	2022	2021
QQHG Invesco QQQ Hedged Advantage ETF	0.23%	0.17%	0.00%	0.00%	0.00%	0.00%
HEGD Swan Hedged Equity US Large Cap ETF	0.36%	0.36%	0.43%	0.39%	0.87%	0.31%

Drawdowns

QQHG vs. HEGD - Drawdown Comparison

The maximum QQHG drawdown since its inception was -6.18%, smaller than the maximum HEGD drawdown of -14.56%. Use the drawdown chart below to compare losses from any high point for QQHG and HEGD.

Drawdown Indicators

	QQHG	HEGD	Difference
Max Drawdown Largest peak-to-trough decline	-6.18%	-14.56%	+8.38%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.56%	—
Current Drawdown Current decline from peak	-3.64%	-3.15%	-0.49%
Average Drawdown Average peak-to-trough decline	-1.06%	-3.76%	+2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.14%	—

Volatility

Volatility by Period

	QQHG	HEGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.60%	8.00%	+1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.60%	9.41%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.60%	9.40%	+0.20%