{"url":"https://etfiq.com/compare/alternatives/hegd-vs-heqq","section":"compare","title":"HEGD vs HEQQ: Correlation to the S&P 500 | ETFIQ","description":"HEGD and HEQQ both run hedged equity strategies. Over the year to Nov 4, 2026, HEGD had a correlation of +0.98 with the S&P 500 and HEQQ +0.88.","as_of":"Nov 4, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, HEGD or HEQQ?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 4, 2026, HEGD\u2019s weekly returns had a correlation of +0.98 with the S&P 500 and HEQQ\u2019s +0.88, so HEQQ moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, HEGD or HEQQ?","acceptedAnswer":{"@type":"Answer","text":"In the 26 weeks the S&P 500 fell, by 1.07% a week on average, HEGD averaged \u22120.76% and HEQQ \u22121.03%, so HEGD returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, HEGD or HEQQ?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, HEGD finished 3.2 percentage points ahead of cash and HEQQ finished 0.1 percentage points behind cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, HEGD or HEQQ?","acceptedAnswer":{"@type":"Answer","text":"HEGD charges 0.87% a year and HEQQ charges 0.50%, so HEQQ is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"HEGD vs HEQQ","item":"https://etfiq.com/compare/alternatives/hegd-vs-heqq"}]},{"@type":"WebPage","name":"HEGD vs HEQQ: Correlation to the S&P 500","description":"HEGD and HEQQ both run hedged equity strategies. Over the year to Nov 4, 2026, HEGD had a correlation of +0.98 with the S&P 500 and HEQQ +0.88.","url":"https://etfiq.com/compare/alternatives/hegd-vs-heqq","dateModified":"2026-11-04","abstract":"Over the year to Nov 4, 2026, HEQQ moved less with the S&P 500 than HEGD: correlation +0.88 against +0.98.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of HEGD and HEQQ","description":"HEGD and HEQQ both run hedged equity strategies. Over the year to Nov 4, 2026, HEGD had a correlation of +0.98 with the S&P 500 and HEQQ +0.88.","dateModified":"2026-11-04","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/hegd-vs-heqq","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6958,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / HEGD vs HEQQ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 4, 2026 .\n\n HEGD vs HEQQ: Correlation to the S&P 500\n\n Over the year to Nov 4, 2026, HEQQ moved less with the S&P 500 than HEGD: correlation +0.88 against +0.98.\n Copy this for sharing \n \n HEQQ costs 0.37 points a year less; their one-year returns differ by 2.9 points.\n HEGD and HEQQ at a glance. As of Nov 4, 2026. Source: ETFIQ. HEGD HEQQ \n Expense ratio 0.87% 0.50% \n Net assets, HEGD as of Aug 31, 2026 and HEQQ as of Nov 3, 2026 $735m $30m \n Total return, 1 year +6.8% +3.9% \n Ho","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, HEGD against HEQQ, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/hegd-vs-heqq","a":{"ticker":"HEGD","name":"Swan Hedged Equity US Large Cap ETF","issuer":"Swan","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, HEGD returned 6.8%, against 14.8% for VOO.","url":"https://etfiq.com/funds/hegd","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.98","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.66","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"71.4%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+3.2 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"0.4%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid annually), ex-date Dec 23, 2025","value":"$0.0903","as_of":"2025-12-23","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$735m","as_of":"2026-08-31","source":"SEC N-PORT, whole fund, as filed for Aug 31, 2026"},{"label":"Expense ratio","value":"0.87%","as_of":"2026-03-27","source":"485BPOS XBRL, Mar 27, 2026"}]},"b":{"ticker":"HEQQ","name":"JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF","issuer":"JPMorgan","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, HEQQ returned 3.9%, against 14.8% for VOO.","url":"https://etfiq.com/funds/heqq","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.88","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.81","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"96.6%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22120.1 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"0.2%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 22, 2026","value":"$0.0168","as_of":"2026-09-22","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$30m","as_of":"2026-11-03","source":"issuer page, as of Nov 3, 2026"},{"label":"Expense ratio","value":"0.50%","as_of":"2025-03-18","source":"485BPOS XBRL, Mar 18, 2025"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/hegd-vs-heqq"}