TRIO vs. HEGD

Last updated Jun 3, 2026

TRIO (MC Trio Equity Buffered ETF) and HEGD (Swan Hedged Equity US Large Cap ETF) are both Equity Hedged funds. TRIO is actively managed, while HEGD is passively managed. Over the past year, TRIO returned 15.33% vs 17.89% for HEGD. Their correlation of 0.86 suggests significant overlap in exposure. TRIO charges 0.70%/yr vs 0.88%/yr for HEGD.

Performance

TRIO vs. HEGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MC Trio Equity Buffered ETF (TRIO) 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, TRIO achieves a 5.65% return, which is significantly lower than HEGD's 6.84% return.

TRIO

• 1D: 0.09%
• 1M: 1.67%
• YTD: 5.65%
• 6M: 6.60%
• 1Y: 15.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEGD

• 1D: -0.63%
• 1M: 3.52%
• YTD: 6.84%
• 6M: 6.23%
• 1Y: 17.89%
• 3Y*: 14.64%
• 5Y*: 9.03%
• 10Y*: —

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

TRIO vs. HEGD - Yearly Performance Comparison

	2026 (YTD)	2025
TRIO MC Trio Equity Buffered ETF	5.65%	11.99%
HEGD Swan Hedged Equity US Large Cap ETF	6.84%	13.91%

Correlation

The correlation between TRIO and HEGD is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	0.86

The correlation between TRIO and HEGD has been stable across timeframes, ranging from 0.86 to 0.86 - a consistent structural relationship.

Return for Risk

TRIO vs. HEGD — Risk / Return Rank

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

TRIO

TRIO Risk / Return Rank: 78
TRIO Sharpe Ratio Rank: 76
TRIO Sortino Ratio Rank: 80
TRIO Omega Ratio Rank: 82
TRIO Calmar Ratio Rank: 69
TRIO Martin Ratio Rank: 83

HEGD

HEGD Risk / Return Rank: 79
HEGD Sharpe Ratio Rank: 78
HEGD Sortino Ratio Rank: 81
HEGD Omega Ratio Rank: 78
HEGD Calmar Ratio Rank: 79
HEGD Martin Ratio Rank: 81

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.

TRIO vs. HEGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MC Trio Equity Buffered ETF (TRIO) 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.

	TRIO	HEGD	Difference
Sharpe ratio Return per unit of total volatility	2.51	2.59	-0.08
Sortino ratio Return per unit of downside risk	3.68	3.70	-0.02
Omega ratio Gain probability vs. loss probability	1.50	1.47	+0.03
Calmar ratio Return relative to maximum drawdown	3.48	4.10	-0.61
Martin ratio Return relative to average drawdown	17.51	16.25	+1.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRIO vs. HEGD - Sharpe Ratio Comparison

The current TRIO Sharpe Ratio is 2.51, which is comparable to the HEGD Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of TRIO 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.

Sharpe Ratios by Period

	TRIO	HEGD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.59	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.36	1.06	+0.30

Drawdowns

TRIO vs. HEGD - Drawdown Comparison

The maximum TRIO drawdown since its inception was -9.88%, smaller than the maximum HEGD drawdown of -14.56%. Use the drawdown chart below to compare losses from any high point for TRIO and HEGD.

Drawdown Indicators

	TRIO	HEGD	Difference
Max Drawdown Largest peak-to-trough decline	-9.88%	-14.56%	+4.68%
Max Drawdown (1Y) Largest decline over 1 year	-4.47%	-4.39%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.56%	—
Current Drawdown Current decline from peak	0.00%	-0.63%	+0.63%
Average Drawdown Average peak-to-trough decline	-0.79%	-3.66%	+2.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	1.10%	-0.21%

Volatility

TRIO vs. HEGD - Volatility Comparison

The current volatility for MC Trio Equity Buffered ETF (TRIO) is 1.03%, while Swan Hedged Equity US Large Cap ETF (HEGD) has a volatility of 2.34%. This indicates that TRIO experiences smaller price fluctuations and is considered to be less risky than HEGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRIO	HEGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	2.34%	-1.31%
Volatility (6M) Calculated over the trailing 6-month period	4.77%	4.95%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	6.14%	6.96%	-0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.72%	9.40%	+1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.72%	9.35%	+1.37%

TRIO vs. HEGD - Expense Ratio Comparison

TRIO has a 0.70% expense ratio, which is lower than HEGD's 0.88% expense ratio.

Dividends

TRIO vs. HEGD - Dividend Comparison

TRIO's dividend yield for the trailing twelve months is around 8.53%, 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%
TRIO MC Trio Equity Buffered ETF	8.53%	9.01%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRIO and HEGD in my portfolio?

TRIO and HEGD have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRIO or HEGD?

HEGD has higher volatility (2.34%) compared to TRIO (1.03%). In terms of maximum drawdown, TRIO dropped -9.88% vs HEGD's -14.56%.

Which ETF is better, TRIO or HEGD?

On 1-year performance, HEGD leads with 17.89% vs 15.33% for TRIO. On fees, TRIO is cheaper at 0.70% per year. On volatility, TRIO has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TRIO or HEGD?

Over the 1-year period, HEGD has performed better with a 17.89% return vs 15.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TRIO or HEGD?

TRIO is cheaper with a 0.70% expense ratio, compared with 0.88% for HEGD.

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

TRIO has the higher dividend yield at 8.53%, compared with 0.34% for HEGD.

What is the main difference between TRIO and HEGD?

They also come from different issuers: ETF Architect and Swan. Their fees differ too: 0.70% for TRIO and 0.88% for HEGD.

Which has better risk-adjusted returns?

HEGD currently has the higher Sharpe Ratio (2.59 vs 2.51), 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.