# Hedged equity ETFs against the S&P 500

> 26 hedged equity ETFs measured by how closely each moved with the S&P 500 and what each did in the weeks it fell, over the year to Nov 4, 2026.

Data as of Nov 4, 2026. Rebuilt every trading night.

Rebuilt every trading night. Data as of Nov 4, 2026 .

## Hedged equity ETFs, against the S&P 500

See how hedged equity funds move against the S&P 500. Owns stocks and pays for protection against a fall, most often with put options. 26 funds. Updated Nov 4, 2026.

### Browse by strategy

| Ticker | Fund | Issuer | Strategy | Correlation | Net assets | Net assets as of | Fee | Total return 1M | Total return 3M | Total return YTD | Total return 1Y | Total return 3Y | Total return since launch | Beta | Down-week capture, % | Against T-bills, pts | Stock Diversification Score |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| TAIL | Cambria Tail Risk ETF | Cambria | Hedged equity | −0.74 | $147m | Jul 31, 2026 | 0.60% | +3.1% | −2.7% | −11.1% | −13.1% | −14.2% | −51.5% | −0.36 | −15.9 | −16.0 | 95.5 |
| CCOR | Core Alternative ETF | Core Alternative | Hedged equity | −0.14 | $28m | Jul 31, 2026 | 1.16% | +8.7% | +3.3% | +4.5% | +7.6% | 0.0% | +21.2% | −0.10 | −20.7 | +3.9 | 90.9 |
| QBER | TrueShares Quarterly Bear Hedge ETF | TrueShares | Hedged equity | −0.71 | $73m | Jul 31, 2026 | 0.79% | +0.1% | 0.0% | −0.5% | 0.0% | not available | −0.2% since Jul 2024 | −0.12 | −15.4 | −3.8 | 90.9 |
| CAOS | Alpha Architect Tail Risk ETF | Alpha Architect | Hedged equity | −0.15 | $728m | Nov 3, 2026 | 0.63% | +0.5% | +1.0% | +1.6% | +1.3% | +10.5% | +18.5% | −0.01 | −3.3 | −2.3 | 84 |
| TOAK | Manager Directed Portfolios Twin Oak Short Hor | Manager Directed Portfolios | Hedged equity | +0.12 | $105m | Aug 31, 2026 | 0.26% | +0.3% | +0.8% | +2.9% | +3.7% | not available | +8.9% since Aug 2024 | 0.00 | −6.1 | 0.0 | 81.8 |
| HEDG | Equable Shares Hedged Equity ETF | Equable Shares | Hedged equity | +0.87 | $427m | Jul 31, 2026 | 0.96% | +0.2% | +2.3% | +7.4% | +10.0% | not available | +10.8% since Oct 2025 | +0.26 | 15.8 | +5.9 | 68.2 |
| QBUL | TrueShares Quarterly Bull Hedge ETF | TrueShares | Hedged equity | +0.85 | $28m | Jul 31, 2026 | 0.79% | −0.3% | −0.9% | +1.0% | +0.4% | not available | +6.5% since Jul 2024 | +0.20 | 23.9 | −3.3 | 68.2 |
| HOLA | JPMorgan International Hedged Equity Laddered | JPMorgan | Hedged equity | +0.69 | $282m | Nov 3, 2026 | 0.50% | +0.8% | −1.3% | +6.9% | +10.7% | not available | +15.0% since Jul 2025 | +0.46 | 36.9 | +6.5 | 65.9 |
| ATTR | Arin Tactical Tail Risk ETF | Arin | Hedged equity | +0.91 | $96m | Jun 30, 2026 | 0.63% | +0.1% | +1.4% | +6.7% | +7.2% | not available | +7.3% since Oct 2025 | +0.22 | 15.6 | +3.5 | 62.5 |
| PHEQ | Parametric Hedged Equity ETF | Parametric | Hedged equity | +0.94 | $140m | Jun 30, 2026 | 0.29% | −0.2% | +2.2% | +9.7% | +11.2% | +49.5% | +51.1% | +0.40 | 31.6 | +7.2 | 50 |
| KSPY | KraneShares Hedgeye Hedged Equity Index ETF | KraneShares | Hedged equity | +0.92 | $135m | Nov 4, 2026 | 0.88% | +0.1% | +1.4% | +10.3% | +11.8% | not available | +30.0% since Jul 2024 | +0.46 | 41.0 | +7.9 | 47.8 |
| SHDG | Soundwatch Hedged Equity ETF | Soundwatch | Hedged equity | +0.90 | $161m | Jul 31, 2026 | 0.91% | −0.4% | +0.6% | +4.0% | +5.6% | +46.8% | +67.7% | +0.60 | 70.4 | +1.6 | 47.7 |
| HELO | JPMorgan Hedged Equity Laddered Overlay ETF | JPMorgan | Hedged equity | +0.95 | $4.9bn | Nov 3, 2026 | 0.50% | 0.0% | +0.2% | +5.3% | +7.2% | +40.1% | +42.5% | +0.59 | 60.7 | +3.4 | 38.7 |
| HEQQ | JPMorgan Nasdaq Hedged Equity Laddered Overlay | JPMorgan | Hedged equity | +0.88 | $30m | Nov 3, 2026 | 0.50% | −4.4% | −1.5% | +3.0% | +3.9% | not available | +20.7% since Mar 2025 | +0.81 | 96.6 | −0.1 | 36.4 |
| HEQT | Simplify Hedged Equity ETF | Simplify | Hedged equity | +0.97 | $307m | Nov 3, 2026 | 0.48% | −0.4% | +0.8% | +8.7% | +10.3% | +50.4% | +54.7% | +0.56 | 54.2 | +6.5 | 36.4 |
| HEGD | Swan Hedged Equity US Large Cap ETF | Swan | Hedged equity | +0.98 | $735m | Aug 31, 2026 | 0.87% | −0.9% | −1.2% | +6.7% | +6.8% | +49.5% | +66.7% | +0.66 | 71.4 | +3.2 | 26.1 |
| QTR | Global X NASDAQ 100 Tail Risk ETF | Global X | Hedged equity | +0.91 | $10m | Oct 12, 2026 | 0.25% | −8.0% | −4.6% | +7.4% | +6.0% | +66.0% | +58.6% | +1.34 | 167.0 | +1.7 | 26.1 |
| ZHDG | ZEGA Buy and Hedge ETF | Zega | Hedged equity | +0.96 | $35m | Jul 31, 2026 | 0.95% | −0.9% | −1.4% | +5.7% | +6.6% | +49.1% | +33.8% | +0.82 | 85.6 | +2.6 | 25 |
| THEQ | T. Rowe Price Hedged Equity ETF | T. Rowe Price | Hedged equity | +0.99 | $38m | Nov 3, 2026 | 0.46% | −0.3% | −0.3% | +8.5% | +9.1% | not available | +22.4% since Mar 2025 | +0.69 | 72.3 | +5.3 | 19.3 |
| ACIO | Aptus Collared Investment Opportunity ETF | Aptus | Hedged equity | +0.99 | $2.4bn | Jul 31, 2026 | 0.79% | −1.7% | −1.2% | +7.2% | +7.1% | +52.4% | +98.5% | +0.79 | 84.3 | +3.3 | 17.1 |
| FHEQ | Fidelity Hedged Equity ETF | Fidelity | Hedged equity | +0.98 | $986m | Sep 30, 2026 | 0.48% | −2.0% | −2.6% | +8.3% | +8.7% | not available | +35.8% since Apr 2024 | +0.82 | 86.0 | +4.7 | 17.1 |
| XTR | Global X S&P 500 Tail Risk ETF | Global X | Hedged equity | +1.00 | $5.0m | Oct 12, 2026 | 0.25% | −1.2% | −1.0% | +9.4% | +10.2% | +65.7% | +58.1% | +0.94 | 100.0 | +6.3 | 4.5 |

Stock Diversification Score is the last column. It ranks each fund within its own set: 22 equity hedged alternatives ETFs with a full year (4.5 to 95.5) and 17 systematic trend alternatives ETFs with a full year (2.9 to 94.2). Ranked by it · How it is computed

### Less than a year of prices

Correlation, beta and down-week capture need a year of weekly returns, so these funds are listed with what they have returned since they first traded, against the S&P 500 over the same days.

| Ticker | Fund | Issuer | Strategy | Net assets | Net assets as of | Fee | Total return 1M | Total return 3M | Total return YTD | Total return 1Y | Total return 3Y | Total return since launch | First traded | S&P 500 since |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| CHDG | Calamos Active Hedged Equity ETF | Calamos | Hedged equity | not read by ETFIQ | not available | 0.66% | −0.4% | −0.3% | not available | not available | not available | −0.3% since Aug 2026 | Aug 4, 2026 | −0.3% |
| HAWG | HCM Hedged Equity ETF | HCM | Hedged equity | not read by ETFIQ | not available | 1.35% | −2.3% | not available | not available | not available | not available | −0.9% since Aug 2026 | Aug 14, 2026 | −1.0% |
| JHDG | John Hancock Hedged Equity ETF | John Hancock | Hedged equity | $90m | Jun 30, 2026 | 0.49% | −1.6% | −2.0% | not available | not available | not available | +9.3% since Apr 2026 | Apr 8, 2026 | +14.0% |
| ONEH | TrueShares Equity Hedge ETF | TrueShares | Hedged equity | $15m | Jul 31, 2026 | 0.79% | +0.7% | −0.6% | not available | not available | not available | −1.5% since Jan 2026 | Jan 29, 2026 | +11.3% |

### Where to next

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, Hedged equity ETFs against the S&P 500, data as of Nov 4, 2026. https://etfiq.com/alternatives/hedged-equity/
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/alternatives/hedged-equity/