PHEQ vs VOO
PHEQ vs VOO
Parametric Hedged Equity 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 | PHEQ | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.03% | |
| AUM | $137M | $979.0B | |
| Dividend Yield | 0.94% | 1.09% | |
| Holdings | 186 | 509 | |
| YTD Return | +7.07% | +13.11% | |
| 1Y Return | +12.93% | +22.88% | |
| 3Y Return (annualized) | - | +21.08% | |
| 5Y Return (annualized) | - | +13.26% | |
| Volatility (annualized) | 6.8% | 14.1% | |
| Max Drawdown | -12.6% | -34.3% | |
| Fund Family | Parametric | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Oct 16, 2023 | Sep 7, 2010 |
PHEQ vs VOO Performance
Parametric Hedged Equity ETF (PHEQ) is a ETF from Parametric and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year PHEQ returned +12.93% while VOO returned +22.88%. Year to date, PHEQ is up 7.07% versus a gain of 13.11% for VOO.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 6.8% for PHEQ. 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 -12.6% for PHEQ 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PHEQ charges 0.29% per year while VOO charges 0.03%. On a $10,000 position that is $29 vs $3 annually, a gap of $26 per year that compounds over a long holding period. On income, PHEQ currently yields 0.94% against 1.09% for VOO.
Holdings Overlap
PHEQ and VOO share 120 holdings out of 558 unique holdings combined, representing a 65.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in PHEQ | Weight in VOO | Difference |
|---|---|---|---|
| NVDA | 8.66% | 7.51% | 1.15% |
| AAPL | 7.30% | 6.59% | 0.71% |
| MSFT | 5.09% | 4.30% | 0.79% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
See all 10 holdings PHEQ 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, PHEQ or VOO?
PHEQ has an expense ratio of 0.29% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, PHEQ or VOO?
Over the past year PHEQ returned +12.93% vs +22.88% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (3 years), PHEQ annualized +15.03% vs +13.54% for VOO. Past performance does not guarantee future results.
Which is riskier, PHEQ or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 6.8% for PHEQ. Worst drawdown: PHEQ -12.6% vs VOO -34.3%.
Should I hold both PHEQ and VOO?
PHEQ and VOO have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between PHEQ and VOO?
PHEQ and VOO share 120 common holdings with a 65.1% weight overlap. Combined, they hold 558 unique securities.
Which pays a higher dividend, PHEQ or VOO?
PHEQ yields 0.94% while VOO yields 1.09%, so VOO currently pays the higher dividend yield.
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