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XOEF vs. PHDG
Performance
Return for Risk
Dividends
Drawdowns
Volatility

XOEF vs. PHDG

Last updated Apr 2, 2026

Compare and contrast key facts about iShares S&P 500 ex S&P 100 ETF (XOEF) and Invesco S&P 500 Downside Hedged ETF (PHDG).

XOEF and PHDG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XOEF is a passively managed fund by iShares that tracks the performance of the S&P 500 Ex-S&P 100 Select Index. It was launched on Jul 8, 2025. PHDG is a passively managed fund by Invesco that tracks the performance of the S&P 500 Dynamic VEQTOR Index. It was launched on Dec 6, 2012. Both XOEF and PHDG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XOEF vs. PHDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 ex S&P 100 ETF (XOEF) and Invesco S&P 500 Downside Hedged ETF (PHDG). The values are adjusted to include any dividend payments, if applicable.

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XOEF vs. PHDG - Yearly Performance Comparison

2026 (YTD)2025
XOEF
iShares S&P 500 ex S&P 100 ETF		2.96%4.15%
PHDG
Invesco S&P 500 Downside Hedged ETF		1.69%6.54%

Returns By Period

In the year-to-date period, XOEF achieves a 2.96% return, which is significantly higher than PHDG's 1.69% return.

XOEF

1D
0.68%
1M
-4.86%
YTD
2.96%
6M
3.90%
1Y
—
3Y*
—
5Y*
—
10Y*
—

PHDG

1D
0.37%
1M
-0.39%
YTD
1.69%
6M
2.33%
1Y
6.29%
3Y*
6.98%
5Y*
3.94%
10Y*
5.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P 500 ex S&P 100 ETF

Invesco S&P 500 Downside Hedged ETF

Often compared with XOEF:
XOEF vs. FCNTXXOEF vs. MAINXOEF vs. VOOXOEF vs. VTIXOEF vs. CPSMXOEF vs. IWMXOEF vs. RSPG
Often compared with PHDG:
PHDG vs. SPYPHDG vs. VOOPHDG vs. DIVOPHDG vs. JEPIPHDG vs. SVOLPHDG vs. DBEFPHDG vs. QQQ

XOEF vs. PHDG - Expense Ratio Comparison

XOEF has a 0.20% expense ratio, which is lower than PHDG's 0.39% expense ratio.

PHDG
Invesco S&P 500 Downside Hedged ETF
XOEF
iShares S&P 500 ex S&P 100 ETF

Return for Risk

XOEF vs. PHDG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XOEF
PHDG
PHDG Risk / Return Rank: 2828
Overall Rank
PHDG Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
PHDG Sortino Ratio Rank: 2727
Sortino Ratio Rank
PHDG Omega Ratio Rank: 2929
Omega Ratio Rank
PHDG Calmar Ratio Rank: 2828
Calmar Ratio Rank
PHDG Martin Ratio Rank: 2525
Martin Ratio Rank
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.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XOEF vs. PHDG - Sharpe Ratio Comparison

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Sharpe Ratios by Period

XOEFPHDGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

0.60

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.36

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.50

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.79

0.46

+0.33

Correlation

The correlation between XOEF and PHDG is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XOEF vs. PHDG - Dividend Comparison

XOEF's dividend yield for the trailing twelve months is around 0.87%, less than PHDG's 2.08% yield.

TTM20252024202320222021202020192018201720162015
XOEF
iShares S&P 500 ex S&P 100 ETF		0.87%0.63%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PHDG
Invesco S&P 500 Downside Hedged ETF		2.08%2.10%1.94%1.93%1.35%0.44%0.63%1.80%1.56%1.83%2.29%1.64%

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

XOEFPHDGDifference

Max Drawdown

Largest peak-to-trough decline

-7.66%

-17.70%

+10.04%

Max Drawdown (1Y)

Largest decline over 1 year

—

-8.93%

—

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

-4.97%

-1.82%

-3.15%

Average Drawdown

Average peak-to-trough decline

-1.43%

-6.32%

+4.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

3.24%

—

Volatility

XOEF vs. PHDG - Volatility Comparison

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Volatility by Period

XOEFPHDGDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

2.79%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

6.33%

—

Volatility (1Y)

Calculated over the trailing 1-year period

12.82%

10.58%

+2.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.82%

10.90%

+1.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.82%

11.89%

+0.93%