SHUS vs. PHDG

Last updated Aug 4, 2026

SHUS (Stratified LargeCap Hedged ETF) and PHDG (Invesco S&P 500 Downside Hedged ETF) are both Equity Hedged funds. SHUS is actively managed, while PHDG is passively managed. Over the past year, SHUS returned 18.95% vs 19.53% for PHDG. Their 0.41 correlation means their historical movements had little consistent relationship. SHUS charges 0.79%/yr vs 0.39%/yr for PHDG.

Performance

SHUS vs. PHDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Stratified LargeCap Hedged ETF (SHUS) and Invesco S&P 500 Downside Hedged ETF (PHDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SHUS having a 11.99% return and PHDG slightly lower at 11.43%.

SHUS

• 1D: 0.74%
• 1M: 0.95%
• 6M: 8.10%
• YTD: 11.99%
• 1Y: 18.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.87%

PHDG

• 1D: 1.10%
• 1M: 1.13%
• 6M: 10.08%
• YTD: 11.43%
• 1Y: 19.53%
• 3Y*: 9.36%
• 5Y*: 4.51%
• 10Y*: 7.30%
• ALL TIME*: 5.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PHDG Invesco S&P 500 Downside Hedged ETF	$1.17M	$677.70K	$916.70K
SHUS Stratified LargeCap Hedged ETF	$376.99	$481.64	$2.74K

SHUS vs. PHDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SHUS Stratified LargeCap Hedged ETF	11.99%	10.89%	-2.65%
PHDG Invesco S&P 500 Downside Hedged ETF	11.43%	2.72%	-1.73%

Correlation

The correlation between SHUS and PHDG is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Sep 30, 2024	0.41

Return for Risk

SHUS vs. PHDG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SHUS

SHUS Risk / Return Rank: 76
SHUS Sharpe Ratio Rank: 77
SHUS Sortino Ratio Rank: 80
SHUS Omega Ratio Rank: 75
SHUS Calmar Ratio Rank: 73
SHUS Martin Ratio Rank: 74

PHDG

PHDG Risk / Return Rank: 74
PHDG Sharpe Ratio Rank: 73
PHDG Sortino Ratio Rank: 72
PHDG Omega Ratio Rank: 80
PHDG Calmar Ratio Rank: 78
PHDG Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SHUS vs. PHDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stratified LargeCap Hedged ETF (SHUS) and Invesco S&P 500 Downside Hedged ETF (PHDG). 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.

	SHUS	PHDG	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.71	+0.18
Sortino ratio: Return per unit of downside risk	2.77	2.40	+0.37
Omega ratio: Gain probability vs. loss probability	1.34	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	2.74	2.89	-0.16
Martin ratio: Return relative to average drawdown	9.87	8.84	+1.03

SHUS vs. PHDG - Sharpe Ratio Comparison

The current SHUS Sharpe Ratio is 1.89, which is comparable to the PHDG Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of SHUS and PHDG, 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

SHUS vs. PHDG - Drawdown Comparison

The maximum SHUS drawdown since its inception was -14.09%, smaller than the maximum PHDG drawdown of -17.70%. Use the drawdown chart below to compare losses from any high point for SHUS and PHDG.

Drawdown Indicators

	SHUS	PHDG	Difference
Max Drawdown Largest peak-to-trough decline	-14.09%	-17.70%	+3.61%
Max Drawdown (1Y) Largest decline over 1 year	-6.95%	-6.78%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.06%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.06%	—
Current Drawdown Current decline from peak	-0.33%	-4.26%	+3.93%
Average Drawdown Average peak-to-trough decline	-2.47%	-6.23%	+3.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.21%	-0.29%

Volatility

SHUS vs. PHDG - Volatility Comparison

Stratified LargeCap Hedged ETF (SHUS) has a higher volatility of 2.87% compared to Invesco S&P 500 Downside Hedged ETF (PHDG) at 2.71%. This indicates that SHUS's price experiences larger fluctuations and is considered to be riskier than PHDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHUS	PHDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	2.71%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	7.39%	9.53%	-2.14%
Volatility (1Y) Calculated over the trailing 1-year period	10.09%	11.47%	-1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.41%	11.41%	+1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.41%	12.12%	+0.29%

SHUS vs. PHDG - Expense Ratio Comparison

SHUS has a 0.79% expense ratio, which is higher than PHDG's 0.39% expense ratio.

Dividends

SHUS vs. PHDG - Dividend Comparison

SHUS's dividend yield for the trailing twelve months is around 1.23%, less than PHDG's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHDG Invesco S&P 500 Downside Hedged ETF	1.67%	2.10%	1.94%	1.93%	1.35%	0.44%	0.63%	1.80%	1.56%	1.83%	2.29%	1.64%
SHUS Stratified LargeCap Hedged ETF	1.23%	1.37%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHUS and PHDG in my portfolio?

SHUS and PHDG have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHUS or PHDG?

SHUS has higher volatility (2.87%) compared to PHDG (2.71%). In terms of maximum drawdown, SHUS dropped -14.09% vs PHDG's -17.70%.

Which ETF is better, SHUS or PHDG?

On 1-year performance, PHDG leads with 19.53% vs 18.95% for SHUS. On fees, PHDG is cheaper at 0.39% per year. On volatility, PHDG has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHUS or PHDG?

Over the 1-year period, PHDG has performed better with a 19.53% return vs 18.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHUS or PHDG?

PHDG is cheaper with a 0.39% expense ratio, compared with 0.79% for SHUS.

Which ETF pays a higher dividend yield, SHUS or PHDG?

PHDG has the higher dividend yield at 1.67%, compared with 1.23% for SHUS.

What is the main difference between SHUS and PHDG?

They also come from different issuers: Exchange Traded Concepts and Invesco. Their fees differ too: 0.79% for SHUS and 0.39% for PHDG.

Which has better risk-adjusted returns?

SHUS currently has the higher Sharpe Ratio (1.89 vs 1.71), 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.