XCLR vs. FHEQ

Last updated Jun 4, 2026

XCLR (Global X S&P 500 Collar 95-110 ETF) and FHEQ (Fidelity Hedged Equity ETF) are both Equity Hedged funds. XCLR is passively managed, while FHEQ is actively managed. Over the past year, XCLR returned 13.37% vs 20.68% for FHEQ. Their correlation of 0.94 suggests significant overlap in exposure. XCLR charges 0.25%/yr vs 0.48%/yr for FHEQ.

Performance

XCLR vs. FHEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Collar 95-110 ETF (XCLR) and Fidelity Hedged Equity ETF (FHEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCLR achieves a 2.37% return, which is significantly lower than FHEQ's 8.69% return.

XCLR

• 1D: -0.05%
• 1M: 2.04%
• YTD: 2.37%
• 6M: 2.16%
• 1Y: 13.37%
• 3Y*: 13.42%
• 5Y*: —
• 10Y*: —

FHEQ

• 1D: -0.59%
• 1M: 4.59%
• YTD: 8.69%
• 6M: 8.06%
• 1Y: 20.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XCLR vs. FHEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XCLR Global X S&P 500 Collar 95-110 ETF	2.37%	10.25%	11.25%
FHEQ Fidelity Hedged Equity ETF	8.69%	13.34%	10.57%

Correlation

The correlation between XCLR and FHEQ is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Apr 12, 2024	0.94

The correlation between XCLR and FHEQ has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

XCLR vs. FHEQ — Risk / Return Rank

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

XCLR

XCLR Risk / Return Rank: 41
XCLR Sharpe Ratio Rank: 44
XCLR Sortino Ratio Rank: 43
XCLR Omega Ratio Rank: 45
XCLR Calmar Ratio Rank: 32
XCLR Martin Ratio Rank: 41

FHEQ

FHEQ Risk / Return Rank: 63
FHEQ Sharpe Ratio Rank: 67
FHEQ Sortino Ratio Rank: 68
FHEQ Omega Ratio Rank: 64
FHEQ Calmar Ratio Rank: 54
FHEQ Martin Ratio Rank: 61

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.

XCLR vs. FHEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Collar 95-110 ETF (XCLR) and Fidelity Hedged Equity ETF (FHEQ). 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.

	XCLR	FHEQ	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.22	-0.65
Sortino ratio: Return per unit of downside risk	2.17	3.14	-0.97
Omega ratio: Gain probability vs. loss probability	1.29	1.39	-0.11
Calmar ratio: Return relative to maximum drawdown	1.62	2.67	-1.05
Martin ratio: Return relative to average drawdown	6.51	10.82	-4.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCLR vs. FHEQ - Sharpe Ratio Comparison

The current XCLR Sharpe Ratio is 1.57, which is comparable to the FHEQ Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of XCLR and FHEQ, 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

	XCLR	FHEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	2.22	-0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	1.51	-0.77

Drawdowns

XCLR vs. FHEQ - Drawdown Comparison

The maximum XCLR drawdown since its inception was -14.63%, which is greater than FHEQ's maximum drawdown of -11.12%. Use the drawdown chart below to compare losses from any high point for XCLR and FHEQ.

Drawdown Indicators

	XCLR	FHEQ	Difference
Max Drawdown Largest peak-to-trough decline	-14.63%	-11.12%	-3.51%
Max Drawdown (1Y) Largest decline over 1 year	-8.29%	-7.77%	-0.52%
Max Drawdown (3Y) Largest decline over 3 years	-12.46%	—	—
Current Drawdown Current decline from peak	-0.05%	-0.59%	+0.54%
Average Drawdown Average peak-to-trough decline	-4.71%	-1.82%	-2.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.92%	+0.14%

Volatility

XCLR vs. FHEQ - Volatility Comparison

The current volatility for Global X S&P 500 Collar 95-110 ETF (XCLR) is 0.61%, while Fidelity Hedged Equity ETF (FHEQ) has a volatility of 2.45%. This indicates that XCLR experiences smaller price fluctuations and is considered to be less risky than FHEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCLR	FHEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	2.45%	-1.84%
Volatility (6M) Calculated over the trailing 6-month period	6.18%	6.65%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	8.58%	9.38%	-0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.44%	10.38%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.44%	10.38%	+0.06%

XCLR vs. FHEQ - Expense Ratio Comparison

XCLR has a 0.25% expense ratio, which is lower than FHEQ's 0.48% expense ratio.

Dividends

XCLR vs. FHEQ - Dividend Comparison

XCLR's dividend yield for the trailing twelve months is around 12.85%, more than FHEQ's 0.58% yield.

Position	TTM	2025	2024	2023	2022	2021
FHEQ Fidelity Hedged Equity ETF	0.58%	0.63%	0.50%	0.00%	0.00%	0.00%
XCLR Global X S&P 500 Collar 95-110 ETF	12.85%	13.15%	18.76%	1.40%	1.01%	1.70%

Frequently Asked Questions

Can I hold both XCLR and FHEQ in my portfolio?

With a correlation of 0.90, XCLR and FHEQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XCLR or FHEQ?

FHEQ has higher volatility (2.45%) compared to XCLR (0.61%). In terms of maximum drawdown, XCLR dropped -14.63% vs FHEQ's -11.12%.

Which ETF is better, XCLR or FHEQ?

On 1-year performance, FHEQ leads with 20.68% vs 13.37% for XCLR. On fees, XCLR is cheaper at 0.25% per year. On volatility, XCLR has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XCLR or FHEQ?

Over the 1-year period, FHEQ has performed better with a 20.68% return vs 13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XCLR or FHEQ?

XCLR is cheaper with a 0.25% expense ratio, compared with 0.48% for FHEQ.

Which ETF pays a higher dividend yield, XCLR or FHEQ?

XCLR has the higher dividend yield at 12.85%, compared with 0.58% for FHEQ.

What is the main difference between XCLR and FHEQ?

They also come from different issuers: Global X and Fidelity. Their fees differ too: 0.25% for XCLR and 0.48% for FHEQ.

Which has better risk-adjusted returns?

FHEQ currently has the higher Sharpe Ratio (2.22 vs 1.57), 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.