# PHEQ (Parametric Hedged Equity ETF)

Parametric · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, PHEQ fell 32% as much as the index.

## Key facts

- PHEQ, correlation with the S&P 500: +0.91, as of Sep 18, 2026.
- PHEQ, beta to the S&P 500: +0.42, as of Sep 18, 2026.
- PHEQ, down-week capture: 31.7%, as of Sep 18, 2026.
- PHEQ, against T-bills, 52 weeks: +7.8 pts, as of Sep 18, 2026.
- PHEQ, net assets: $140m (SEC N-PORT, whole fund, as filed for Jun 30, 2026).
- PHEQ, expense ratio: 0.29% (485BPOS XBRL, Jan 28, 2026).

## PHEQ over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +2.9% | +2.3% | +0.7 pts |
| 6 months | +11.8% | +18.0% | −6.2 pts |
| 1 year | +11.6% | +16.6% | −5.0 pts |
| Since it listed | +50.0% | +85.2% | −35.3 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | Parametric | ETFIQ |
| Strategy | Hedged equity | ETFIQ, from its prospectus |
| Expense ratio | 0.29% | 485BPOS XBRL, Jan 28, 2026 |
| Net assets | $140m | SEC N-PORT, whole fund, as filed for Jun 30, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| PHEQ in those weeks, on average | −0.39% | ETFIQ |
| PHEQ total return over those weeks | +11.4% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Oct 19, 2023 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does PHEQ move with the S&P 500?

Over the year to Sep 18, 2026, PHEQ’s weekly returns had a correlation of +0.91 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was +0.42, so for each 1% the index moved it moved about 0.42% the same way.

### What did PHEQ do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks PHEQ fell 0.39% on average, a down-week capture of 31.7%.

### Did PHEQ earn more than cash?

Over the same 52 weeks PHEQ returned +11.4% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. PHEQ finished 7.8 percentage points ahead of it.

### What does PHEQ cost?

The prospectus expense ratio is 0.29% a year.

### Why is PHEQ listed as hedged equity?

ETFIQ files each fund by what its own prospectus says it does, and PHEQ’s, filed Jan 28, 2026, describes a hedged equity fund.


## Cite this page

ETFIQ, PHEQ, data as of Sep 18, 2026. https://etfiq.com/funds/pheq
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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