PHDG vs VOO
PHDG vs VOO
Invesco S&P 500 Downside Hedged ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | PHDG | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.03% | |
| AUM | $61M | $979.0B | |
| Dividend Yield | 1.68% | 1.09% | |
| Holdings | 514 | 509 | |
| YTD Return | +11.67% | +11.51% | |
| 1Y Return | +18.00% | +21.46% | |
| 3Y Return (annualized) | +9.21% | +20.86% | |
| 5Y Return (annualized) | +4.35% | +13.01% | |
| Volatility (annualized) | 9.9% | 14.1% | |
| Max Drawdown | -23.6% | -34.3% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Dec 5, 2012 | Sep 7, 2010 |
PHDG vs VOO Performance
Invesco S&P 500 Downside Hedged ETF (PHDG) is a ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year PHDG returned +18.00% while VOO returned +21.46%. Year to date, PHDG is up 11.67% versus a gain of 11.51% for VOO.
Over three years, PHDG compounded at +9.21% per year against +20.86% for VOO; over five years the annualized figures are +4.35% and +13.01% respectively. Across the full 14-year window we track, VOO has the edge at +13.44% annualized vs +4.36%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 9.9% for PHDG. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -23.6% for PHDG and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PHDG charges 0.39% per year while VOO charges 0.03%. On a $10,000 position that is $39 vs $3 annually, a gap of $36 per year that compounds over a long holding period. On income, PHDG currently yields 1.68% against 1.09% for VOO.
Holdings Overlap
PHDG and VOO share 484 holdings out of 515 unique holdings combined, representing a 73.5% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in PHDG | Weight in VOO | Difference |
|---|---|---|---|
| NVDA | 5.69% | 7.51% | 1.82% |
| AAPL | 4.98% | 6.59% | 1.61% |
| MSFT | 3.30% | 4.30% | 1.00% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
See all 10 holdings PHDG shares with VOO Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, PHDG or VOO?
PHDG has an expense ratio of 0.39% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $36 per year of difference.
Which performed better, PHDG or VOO?
Over the past year PHDG returned +18.00% vs +21.46% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (14 years), PHDG annualized +4.36% vs +13.44% for VOO. Past performance does not guarantee future results.
Which is riskier, PHDG or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 9.9% for PHDG. Worst drawdown: PHDG -23.6% vs VOO -34.3%.
Should I hold both PHDG and VOO?
PHDG and VOO have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PHDG and VOO?
PHDG and VOO share 484 common holdings with a 73.5% weight overlap. Combined, they hold 515 unique securities.
Which pays a higher dividend, PHDG or VOO?
PHDG yields 1.68% while VOO yields 1.09%, so PHDG currently pays the higher dividend yield.
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