{"url":"https://etfiq.com/compare/alternatives/heqt-vs-pheq","section":"compare","title":"HEQT vs PHEQ: Correlation to the S&P 500 | ETFIQ","description":"HEQT and PHEQ both run hedged equity strategies. Over the year to Nov 4, 2026, HEQT had a correlation of +0.97 with the S&P 500 and PHEQ +0.94.","as_of":"Nov 4, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, HEQT or PHEQ?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 4, 2026, HEQT\u2019s weekly returns had a correlation of +0.97 with the S&P 500 and PHEQ\u2019s +0.94, so PHEQ moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, HEQT or PHEQ?","acceptedAnswer":{"@type":"Answer","text":"In the 26 weeks the S&P 500 fell, by 1.07% a week on average, HEQT averaged \u22120.58% and PHEQ \u22120.34%, so PHEQ returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, HEQT or PHEQ?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, HEQT finished 6.5 percentage points ahead of cash and PHEQ finished 7.2 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, HEQT or PHEQ?","acceptedAnswer":{"@type":"Answer","text":"HEQT charges 0.48% a year and PHEQ charges 0.29%, so PHEQ 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":"HEQT vs PHEQ","item":"https://etfiq.com/compare/alternatives/heqt-vs-pheq"}]},{"@type":"WebPage","name":"HEQT vs PHEQ: Correlation to the S&P 500","description":"HEQT and PHEQ both run hedged equity strategies. Over the year to Nov 4, 2026, HEQT had a correlation of +0.97 with the S&P 500 and PHEQ +0.94.","url":"https://etfiq.com/compare/alternatives/heqt-vs-pheq","dateModified":"2026-11-04","abstract":"Over the year to Nov 4, 2026, PHEQ moved less with the S&P 500 than HEQT: correlation +0.94 against +0.97.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of HEQT and PHEQ","description":"HEQT and PHEQ both run hedged equity strategies. Over the year to Nov 4, 2026, HEQT had a correlation of +0.97 with the S&P 500 and PHEQ +0.94.","dateModified":"2026-11-04","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/heqt-vs-pheq","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":6953,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / HEQT vs PHEQ \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 4, 2026 .\n\n HEQT vs PHEQ: Correlation to the S&P 500\n\n Over the year to Nov 4, 2026, PHEQ moved less with the S&P 500 than HEQT: correlation +0.94 against +0.97.\n Copy this for sharing \n \n PHEQ costs 0.19 points a year less; their one-year returns differ by 0.9 points.\n HEQT and PHEQ at a glance. As of Nov 4, 2026. Source: ETFIQ. HEQT PHEQ \n Expense ratio 0.48% 0.29% \n Net assets, HEQT as of Nov 3, 2026 and PHEQ as of Jun 30, 2026 $307m $140m \n Total return, 1 year +10.3% +11.2% \n","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, HEQT against PHEQ, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/heqt-vs-pheq","a":{"ticker":"HEQT","name":"Simplify Hedged Equity ETF","issuer":"Simplify","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, HEQT returned 10.3%, against 14.8% for VOO.","url":"https://etfiq.com/funds/heqt","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.97","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.56","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"54.2%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+6.5 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":"1.3%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 25, 2026","value":"$0.10","as_of":"2026-09-25","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$307m","as_of":"2026-11-03","source":"issuer page, as of Nov 3, 2026"},{"label":"Expense ratio","value":"0.48%","as_of":"2026-10-28","source":"485BPOS XBRL, Oct 28, 2026"}]},"b":{"ticker":"PHEQ","name":"Parametric Hedged Equity ETF","issuer":"Parametric","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, PHEQ returned 11.2%, against 14.8% for VOO.","url":"https://etfiq.com/funds/pheq","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.94","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.40","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"31.6%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+7.2 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":"0.9%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 21, 2026","value":"$0.0486","as_of":"2026-09-21","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$140m","as_of":"2026-06-30","source":"SEC N-PORT, whole fund, as filed for Jun 30, 2026"},{"label":"Expense ratio","value":"0.29%","as_of":"2026-01-28","source":"485BPOS XBRL, Jan 28, 2026"}]},"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/heqt-vs-pheq"}