XDOC vs. PHEQ

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator U.S. Equity Accelerated ETF - October (XDOC) and Parametric Hedged Equity ETF (PHEQ).

XDOC and PHEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XDOC is an actively managed fund by Innovator. It was launched on Sep 30, 2021. PHEQ is an actively managed fund by Parametric. It was launched on Oct 16, 2023.

Performance

XDOC vs. PHEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated ETF - October (XDOC) and Parametric Hedged Equity ETF (PHEQ). The values are adjusted to include any dividend payments, if applicable.

XDOC vs. PHEQ - Yearly Performance Comparison

	2026 (YTD)
XDOC Innovator U.S. Equity Accelerated ETF - October	0.00%
PHEQ Parametric Hedged Equity ETF	-2.21%

Returns By Period

XDOC

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PHEQ

• 1D: 1.45%
• 1M: -1.97%
• YTD: -1.79%
• 6M: 0.42%
• 1Y: 12.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XDOC vs. PHEQ - Expense Ratio Comparison

XDOC has a 0.79% expense ratio, which is higher than PHEQ's 0.29% expense ratio.

XDOC

Innovator U.S. Equity Accelerated ETF - October

PHEQ

Parametric Hedged Equity ETF

Return for Risk

XDOC vs. PHEQ — Risk / Return Rank

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

PHEQ

PHEQ Risk / Return Rank: 74
PHEQ Sharpe Ratio Rank: 70
PHEQ Sortino Ratio Rank: 73
PHEQ Omega Ratio Rank: 80
PHEQ Calmar Ratio Rank: 68
PHEQ 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.

XDOC vs. PHEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated ETF - October (XDOC) and Parametric Hedged Equity ETF (PHEQ). 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

	XDOC	PHEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.51	—

Dividends

XDOC vs. PHEQ - Dividend Comparison

XDOC has not paid dividends to shareholders, while PHEQ's dividend yield for the trailing twelve months is around 1.10%.

	TTM	2025	2024	2023
XDOC Innovator U.S. Equity Accelerated ETF - October	0.00%	0.00%	0.00%	0.00%
PHEQ Parametric Hedged Equity ETF	1.10%	1.19%	1.39%	1.73%

Drawdowns

XDOC vs. PHEQ - Drawdown Comparison

The maximum XDOC drawdown since its inception was 0.00%, smaller than the maximum PHEQ drawdown of -12.55%. Use the drawdown chart below to compare losses from any high point for XDOC and PHEQ.

Drawdown Indicators

	XDOC	PHEQ	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-12.55%	+12.55%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.85%	—
Current Drawdown Current decline from peak	0.00%	-2.78%	+2.78%
Average Drawdown Average peak-to-trough decline	0.00%	-1.02%	+1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.52%	—

Volatility

Volatility by Period

	XDOC	PHEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.82%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	10.65%	-10.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	8.78%	-8.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	8.78%	-8.78%