XOEF vs. PHDG
XOEF (iShares S&P 500 ex S&P 100 ETF) and PHDG (Invesco S&P 500 Downside Hedged ETF) are both exchange-traded funds - XOEF is a S&P 500 fund tracking the S&P 500 Ex-S&P 100 Select Index, while PHDG is a Equity Hedged fund tracking the S&P 500 Dynamic VEQTOR Index. Both are passively managed. A 0.51 correlation means they provide meaningful diversification when combined. XOEF charges 0.20%/yr vs 0.39%/yr for PHDG.
Performance
XOEF vs. PHDG - Performance Comparison
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Returns By Period
In the year-to-date period, XOEF achieves a 16.44% return, which is significantly higher than PHDG's 9.74% return.
XOEF
- 1D
- 0.79%
- 1M
- 3.14%
- YTD
- 16.44%
- 6M
- 15.13%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PHDG
- 1D
- 0.48%
- 1M
- -4.01%
- YTD
- 9.74%
- 6M
- 8.70%
- 1Y
- 18.30%
- 3Y*
- 9.10%
- 5Y*
- 4.52%
- 10Y*
- 7.32%
XOEF vs. PHDG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XOEF iShares S&P 500 ex S&P 100 ETF | 16.44% | 4.27% |
PHDG Invesco S&P 500 Downside Hedged ETF | 9.74% | 6.91% |
Correlation
The correlation between XOEF and PHDG is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025 | 0.51 |
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Return for Risk
XOEF vs. PHDG — Risk / Return Rank
XOEF
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PHDG
XOEF vs. PHDG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 ex S&P 100 ETF (XOEF) 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.
| XOEF | PHDG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.33 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.89 | — |
| Martin ratioReturn relative to average drawdown | — | 12.23 | — |
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Drawdowns
XOEF vs. PHDG - Drawdown Comparison
The maximum XOEF drawdown since its inception was -7.66%, smaller than the maximum PHDG drawdown of -17.70%. Use the drawdown chart below to compare losses from any high point for XOEF and PHDG.
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Drawdown Indicators
| XOEF | PHDG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.66% | -17.70% | +10.04% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.36% | — |
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 DrawdownCurrent decline from peak | 0.00% | -5.71% | +5.71% |
Average DrawdownAverage peak-to-trough decline | -1.27% | -6.23% | +4.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.50% | — |
Volatility
XOEF vs. PHDG - Volatility Comparison
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Volatility by Period
| XOEF | PHDG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.72% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.58% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 12.89% | 11.39% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.89% | 11.41% | +1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.89% | 12.10% | +0.79% |
XOEF vs. PHDG - Expense Ratio Comparison
XOEF has a 0.20% expense ratio, which is lower than PHDG's 0.39% expense ratio.
Dividends
XOEF vs. PHDG - Dividend Comparison
XOEF's dividend yield for the trailing twelve months is around 1.04%, less than PHDG's 1.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PHDG Invesco S&P 500 Downside Hedged ETF | 1.69% | 2.10% | 1.94% | 1.93% | 1.35% | 0.44% | 0.63% | 1.80% | 1.56% | 1.83% | 2.29% | 1.64% |
XOEF iShares S&P 500 ex S&P 100 ETF | 1.04% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XOEF and PHDG have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XOEF is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XOEF is cheaper with a 0.20% expense ratio, compared with 0.39% for PHDG.
PHDG has the higher dividend yield at 1.69%, compared with 1.04% for XOEF.
XOEF is categorized as S&P 500, while PHDG is Equity Hedged. XOEF tracks S&P 500 Ex-S&P 100 Select Index, while PHDG tracks S&P 500 Dynamic VEQTOR Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for XOEF and 0.39% for PHDG.
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