SEIQ vs. HEGD

Last updated Jun 26, 2026

SEIQ (SEI Enhanced US Large Cap Quality Factor ETF) and HEGD (Swan Hedged Equity US Large Cap ETF) are both exchange-traded funds - SEIQ is a Large Cap Blend Equities fund actively managed by SEI, while HEGD is a Equity Hedged fund actively managed by Swan. Both are actively managed. Over the past 3 years, SEIQ returned 12.02%/yr vs 13.52%/yr for HEGD. Their correlation of 0.85 suggests significant overlap in exposure. SEIQ charges 0.15%/yr vs 0.88%/yr for HEGD.

Performance

SEIQ vs. HEGD - Performance Comparison

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

Returns By Period

In the year-to-date period, SEIQ achieves a -0.73% return, which is significantly lower than HEGD's 4.48% return.

SEIQ

• 1D: -1.15%
• 1M: -3.91%
• YTD: -0.73%
• 6M: -1.91%
• 1Y: 6.42%
• 3Y*: 12.02%
• 5Y*: —
• 10Y*: —

HEGD

• 1D: -0.21%
• 1M: -1.79%
• YTD: 4.48%
• 6M: 3.33%
• 1Y: 13.94%
• 3Y*: 13.52%
• 5Y*: 8.38%
• 10Y*: —

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

SEIQ vs. HEGD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SEIQ SEI Enhanced US Large Cap Quality Factor ETF	-0.73%	12.51%	16.15%	22.66%	1.51%
HEGD Swan Hedged Equity US Large Cap ETF	4.48%	12.95%	15.24%	14.16%	-0.83%

Correlation

The correlation between SEIQ and HEGD is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (All Time) Calculated using the full available price history since May 18, 2022	0.85

The correlation between SEIQ and HEGD has been stable across timeframes, ranging from 0.75 to 0.85 - a consistent structural relationship.

SEIQ vs. HEGD - Sectors Allocation Comparison

Sectors	SEIQ	HEGD
Technology	41.4%	39.0%
Consumer Cyclical	15.0%	9.9%
Industrials	9.8%	7.8%
Consumer Defensive	9.1%	4.5%
Healthcare	8.8%	8.3%
Communication Services	8.2%	10.6%
Financial Services	7.8%	11.1%
Basic Materials	0.9%	1.7%
Energy	-	3.1%
Real Estate	-	1.8%
Utilities	-	2.1%

Return for Risk

SEIQ vs. HEGD — Risk / Return Rank

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

SEIQ

SEIQ Risk / Return Rank: 18
SEIQ Sharpe Ratio Rank: 19
SEIQ Sortino Ratio Rank: 17
SEIQ Omega Ratio Rank: 17
SEIQ Calmar Ratio Rank: 17
SEIQ Martin Ratio Rank: 22

HEGD

HEGD Risk / Return Rank: 68
HEGD Sharpe Ratio Rank: 66
HEGD Sortino Ratio Rank: 66
HEGD Omega Ratio Rank: 66
HEGD Calmar Ratio Rank: 73
HEGD Martin Ratio Rank: 71

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.

SEIQ vs. HEGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Enhanced US Large Cap Quality Factor ETF (SEIQ) 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.

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.

	SEIQ	HEGD	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.88	-1.29
Sortino ratio: Return per unit of downside risk	0.88	2.62	-1.73
Omega ratio: Gain probability vs. loss probability	1.11	1.34	-0.23
Calmar ratio: Return relative to maximum drawdown	0.67	3.19	-2.52
Martin ratio: Return relative to average drawdown	2.55	11.46	-8.92

SEIQ vs. HEGD - Sharpe Ratio Comparison

The current SEIQ Sharpe Ratio is 0.59, which is lower than the HEGD Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of SEIQ and HEGD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SEIQ vs. HEGD - Drawdown Comparison

The maximum SEIQ drawdown since its inception was -14.87%, roughly equal to the maximum HEGD drawdown of -14.56%. Use the drawdown chart below to compare losses from any high point for SEIQ and HEGD.

Drawdown Indicators

	SEIQ	HEGD	Difference
Max Drawdown Largest peak-to-trough decline	-14.87%	-14.56%	-0.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.66%	-4.39%	-5.27%
Max Drawdown (3Y) Largest decline over 3 years	-14.27%	-8.14%	-6.13%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.56%	—
Current Drawdown Current decline from peak	-4.22%	-2.82%	-1.40%
Average Drawdown Average peak-to-trough decline	-2.72%	-3.64%	+0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	1.22%	+1.31%

Volatility

SEIQ vs. HEGD - Volatility Comparison

SEI Enhanced US Large Cap Quality Factor ETF (SEIQ) has a higher volatility of 3.78% compared to Swan Hedged Equity US Large Cap ETF (HEGD) at 3.30%. This indicates that SEIQ's price experiences larger fluctuations and is considered to be riskier than HEGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEIQ	HEGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	3.30%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	8.67%	5.61%	+3.06%
Volatility (1Y) Calculated over the trailing 1-year period	10.90%	7.46%	+3.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.59%	9.49%	+5.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.59%	9.39%	+5.20%

SEIQ vs. HEGD - Expense Ratio Comparison

SEIQ has a 0.15% expense ratio, which is lower than HEGD's 0.88% expense ratio.

Dividends

SEIQ vs. HEGD - Dividend Comparison

SEIQ's dividend yield for the trailing twelve months is around 0.96%, more than HEGD's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021
HEGD Swan Hedged Equity US Large Cap ETF	0.34%	0.36%	0.43%	0.39%	0.87%	0.31%
SEIQ SEI Enhanced US Large Cap Quality Factor ETF	0.96%	0.94%	0.97%	1.08%	0.83%	0.00%

Frequently Asked Questions

Can I hold both SEIQ and HEGD in my portfolio?

SEIQ and HEGD have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEIQ or HEGD?

SEIQ has higher volatility (3.78%) compared to HEGD (3.30%). In terms of maximum drawdown, SEIQ dropped -14.87% vs HEGD's -14.56%.

Which ETF is better, SEIQ or HEGD?

On 3-year performance, HEGD leads with 13.52% vs 12.02% for SEIQ. On fees, SEIQ is cheaper at 0.15% per year. On volatility, HEGD has been the lower-risk option at 3.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SEIQ or HEGD?

Over the 3-year period, HEGD has performed better with a 13.52% return vs 12.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SEIQ or HEGD?

SEIQ is cheaper with a 0.15% expense ratio, compared with 0.88% for HEGD.

Which ETF pays a higher dividend yield, SEIQ or HEGD?

SEIQ has the higher dividend yield at 0.96%, compared with 0.34% for HEGD.

What is the main difference between SEIQ and HEGD?

SEIQ is categorized as Large Cap Blend Equities, while HEGD is Equity Hedged. They also come from different issuers: SEI and Swan. Their fees differ too: 0.15% for SEIQ and 0.88% for HEGD.

Which has better risk-adjusted returns?

HEGD currently has the higher Sharpe Ratio (1.88 vs 0.59), 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.