Data as of .
PHEQ vs QTR: which moved less with stocks?
Over the year to Sep 18, 2026, PHEQ and QTR moved with the S&P 500 equally closely, both at +0.91.
ETFIQ Diversifier Score: PHEQ scores higher
How much does it diversify a stock portfolio?
A percentile among the 63 alternatives ETFs with a full year. It is a position in a set, not a rating, and neither end of it is a recommendation. All alternatives ETFs ranked by it · How it is computed
One strategy, two funds
PHEQ and QTR both run a hedged equity strategy. Over the same 52 weeks to Sep 18, 2026, PHEQ’s weekly returns had a correlation of +0.91 with the S&P 500 and QTR’s +0.91. In the 22 weeks the index fell, by 1.24% a week on average, PHEQ averaged −0.39% and QTR −1.67%. Over the same weeks, PHEQ finished 7.8 percentage points ahead of cash and QTR finished 10.5 points ahead of cash.
Performance, window by window
| Window | Total return | vs the S&P 500 | ||
|---|---|---|---|---|
| PHEQ | QTR | PHEQ | QTR | |
| 3 months | +2.9% | −3.8% | +0.7 pts | −6.0 pts |
| 6 months | +11.8% | +19.9% | −6.2 pts | +1.8 pts |
| 1 year | +11.6% | +14.9% | −5.0 pts | −1.7 pts |
| 3 years | not published | +72.0% | not published | −6.4 pts |
| Since launch | +50.0% | +66.3% | −35.3 pts | −16.8 pts |
| PHEQ Parametric Hedged Equity ETF Hedged equity fund: owns stocks and pays for protection against a fall, most often with put options | QTR Global X NASDAQ 100 Tail Risk ETF Hedged equity fund: owns stocks and pays for protection against a fall, most often with put options | |
|---|---|---|
| Issuer | Parametric | Global X |
| Strategy | Hedged equity | Hedged equity |
| Correlation with the S&P 500 | +0.91 | +0.91 |
| Beta to the S&P 500 | +0.42 | +1.18 |
| Down-week capture | 31.7% | 134.8% |
| Average week when the S&P 500 fell | −0.39% | −1.67% |
| The S&P 500 in those weeks | −1.24% | −1.24% |
| Total return, same 52 weeks | +11.4% | +14.1% |
| Against T-bills, percentage points | +7.8 pts | +10.5 pts |
| Expense ratio | 0.29% | 0.25% |
| Listed | Oct 19, 2023 | Aug 26, 2021 |
| Net assets | $140m | $10m |
PHEQ in plain words
PHEQ 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 Sep 18, 2026, its weekly returns had a correlation of +0.91 with the S&P 500’s and a beta of +0.42, so for each 1% the index moved it moved about 0.42% the same way. The S&P 500 fell in 22 of those 52 weeks, by 1.24% on average. In the same weeks PHEQ fell 0.39% on average, a down-week capture of 31.7%. Over the same 52 weeks PHEQ returned +11.4% and a Treasury bill fund +3.6%, so it finished 7.8 percentage points ahead of cash.
QTR in plain words
QTR is a hedged equity fund. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.91 with the S&P 500’s and a beta of +1.18, so for each 1% the index moved it moved about 1.18% the same way. In the same weeks QTR fell 1.67% on average, a down-week capture of 134.8%. Over the same 52 weeks QTR returned +14.1% and a Treasury bill fund +3.6%, so it finished 10.5 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, PHEQ or QTR?
- Over the 52 weeks to Sep 18, 2026 both had a correlation of +0.91 with the S&P 500, so neither moved less with the index at the precision this page prints.
- Which did better when the S&P 500 fell, PHEQ or QTR?
- In the 22 weeks the S&P 500 fell, by 1.24% a week on average, PHEQ averaged −0.39% and QTR −1.67%, so PHEQ returned more in those weeks.
- Which earned more than cash, PHEQ or QTR?
- Over the same weeks, PHEQ finished 7.8 percentage points ahead of cash and QTR finished 10.5 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
- Which is cheaper, PHEQ or QTR?
- PHEQ charges 0.29% a year and QTR charges 0.25%, so QTR is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, PHEQ against QTR, data as of Sep 18, 2026. https://etfiq.com/compare/alternatives/pheq-vs-qtr Free to use with attribution; the underlying files are at Open data.