Data as of Nov 4, 2026.
HEQQ vs HEQT: Correlation to the S&P 500
Over the year to Nov 4, 2026, HEQQ moved less with the S&P 500 than HEQT: correlation +0.88 against +0.97.
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Net assets on Nov 3, 2026: $30m for JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF and $307m for Simplify Hedged Equity ETF.
HEQQ in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, HEQQ −1.03%.
HEQT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, HEQT −0.58%.
Pair scorecard
HEQT costs 0.02 points a year less; their one-year returns differ by 6.4 points; HEQT is 10.2 times larger.
| Measure | HEQQ | HEQT |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.9% | +10.3% |
| Against its benchmark | ||
| Treasury bills, 52 weeks | +3.7% | |
| Cost and size | ||
| Expense ratio | 0.50% | 0.48% |
| Net assets, as of Nov 3, 2026 | $30m | $307m |
| Holdings | ||
| Holdings in common | not published | |
| Risk | ||
| Beta to the S&P 500 | +0.81: about 0.81% for each 1% | +0.56: about 0.56% for each 1% |
| Its average week when the S&P 500 fell | fell 1.03% | fell 0.58% |
How much it diversifies a stock portfolio, ranked against 22 equity hedged alternatives ETFs with a full year. 100 is best. How it is computed
One year of weekly moves against the S&P 500, within one strategy; it ignores what the fund returned. All alternatives ETFs ranked by it →
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | HEQQ | HEQT | HEQQ | HEQT |
| 3 months | −1.5% | +0.8% | −1.4 pts vs VOO | +0.9 pts vs VOO |
| 6 months | −1.8% | +4.8% | −6.8 pts vs VOO | −0.2 pts vs VOO |
| 1 year | +3.9% | +10.3% | −10.9 pts vs VOO | −4.5 pts vs VOO |
| 3 years | – | +50.4% | – | −32.9 pts vs VOO |
| Since launchNot the same days: HEQQ Mar 2025 · HEQT Nov 2021 | +20.7% | +54.7% | −16.9 pts vs VOO | −23.3 pts vs VOO |
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Side by side
As of Nov 4, 2026. Source: ETFIQ.
One strategy, two funds
HEQQ and HEQT both run a hedged equity strategy. Over the same 52 weeks to Nov 4, 2026, HEQQ’s weekly returns had a correlation of +0.88 with the S&P 500 and HEQT’s +0.97. In the 26 weeks the index fell, by 1.07% a week on average, HEQQ averaged −1.03% and HEQT −0.58%. Over the same weeks, HEQQ finished 0.1 percentage points behind cash and HEQT finished 6.5 points ahead of cash.
HEQQ
HEQQ is a hedged equity fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.88 with the S&P 500’s and a beta of +0.81, so for each 1% the index moved it moved about 0.81% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks HEQQ fell 1.03% on average, a down-week capture of 96.6%. Over the same 52 weeks HEQQ returned +3.6% and a Treasury bill fund +3.7%, so it finished 0.1 percentage points behind cash.
HEQT
HEQT is a hedged equity fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.97 with the S&P 500’s and a beta of +0.56, so for each 1% the index moved it moved about 0.56% the same way. In the same weeks HEQT fell 0.58% on average, a down-week capture of 54.2%. Over the same 52 weeks HEQT returned +10.2% and a Treasury bill fund +3.7%, so it finished 6.5 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, HEQQ or HEQT?
- Over the 52 weeks to Nov 4, 2026, HEQQ’s weekly returns had a correlation of +0.88 with the S&P 500 and HEQT’s +0.97, so HEQQ moved less with the index.
- Which did better when the S&P 500 fell, HEQQ or HEQT?
- In the 26 weeks the S&P 500 fell, by 1.07% a week on average, HEQQ averaged −1.03% and HEQT −0.58%, so HEQT returned more in those weeks.
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How this is computed
It is a place in a set, not a rating or a recommendation.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, HEQQ against HEQT, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/heqq-vs-heqt
ETFIQ. (Nov 4, 2026). HEQQ against HEQT. Retrieved from https://etfiq.com/compare/alternatives/heqq-vs-heqt
[HEQQ against HEQT (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/alternatives/heqq-vs-heqt)
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