BFRZvsPHEQETF Comparison
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Innovator Equity Managed 100 Buffer ETF (BFRZ) and Parametric Hedged Equity ETF (PHEQ) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Information Technology, Communication Services and Consumer Discretionary. BFRZ is more expensive with a Total Expense Ratio (TER) of 0.89%, versus 0.29% for PHEQ. BFRZ is up 0.48% year-to-date (YTD) with +$60M in YTD flows. PHEQ performs better with 5.41% YTD performance, and -$8M in YTD flows. Run a side-by-side ETF comparison of BFRZ and PHEQ below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BFRZ vs PHEQ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 06/12/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BFRZ PHEQ | +0.57%+0.62% | +0.89%+6.89% | +0.48%+5.41% | +6.28%+14.73% | n/an/a | n/an/a |
| Flows | BFRZ PHEQ | +$11M+$2M | +$21M+$4M | +$60M-$8M | +$123M+$27M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BFRZ PHEQ | +5.90%+7.59% | +5.31%+6.65% | n/an/a | n/an/a |
| Max drawdown | BFRZ PHEQ | -2.72%-2.27% | -2.98%-3.96% | n/an/a | n/an/a |
| Max drawdown duration | BFRZ PHEQ | 10d16d | 102d86d | n/an/a | n/an/a |
Trading data
BFRZ | PHEQ | |
Last sale 6/12/2026 at 1:30 PM | $26.90 | $34.28 |
| Previous close 06/11/2026 | $26.85 | $34.26 |
| Consolidated volume 06/11/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 6/12/2026 at 1:30 PM
Live
Closed
BFRZ | PHEQ | |
|---|---|---|
| Last price | $26.90 | $34.28 |
| 1D performance | +0.20% | +0.07% |
| AuM | $138.50 M | $137.12 M |
| E/R | 0.89% | 0.29% |
Characteristics
BFRZ | PHEQ | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Innovator | Morgan Stanley |
| Benchmark | - | - |
| N° of holdings | 168 | 169 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 13, 2025 | October 19, 2023 |
| ESG | No | No |
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Exposure
Countries
BFRZ
USA
93.18%
Other
6.82%
PHEQ
USA
93.33%
Other
6.67%
Sectors
BFRZ
Information Techn.
34.78%
Communication Ser.
10.6%
Consumer Discreti.
9.66%
Financials
8.9%
Health Care
7.81%
Industrials
7.68%
Other
20.57%
PHEQ
Information Techn.
34.35%
Communication Ser.
11.51%
Consumer Discreti.
10.04%
Financials
9.03%
Health Care
7.82%
Industrials
7.79%
Other
19.46%
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Diversification
BFRZ
Total weight of top 15 holdings out of 15
44.68%
PHEQ
Total weight of top 15 holdings out of 15
45.03%
Top 15 holdings
Data as of April 30, 2026
BFRZ
NVIDIA
8.21%
APPLE
6.32%
MICROSOFT-T
4.83%
AMAZON.COM INC
4.11%
BROADCOM LIMITED
3.32%
ALPHABET INC-CL
3.31%
ALPHABET INC-CL
2.74%
META PLATFORMS
2.43%
TESLA
1.89%
JPMORGAN CHASE
1.58%
LILLY
1.35%
EXXON
1.20%
BERKSHIRE HATHWAY
1.19%
MICRON TECHNOLOGY
1.11%
WALMART INC
1.09%
PHEQ
NVIDIA
8.44%
APPLE
6.74%
MICROSOFT-T
5.24%
AMAZON.COM INC
4.31%
ALPHABET INC-CL
3.54%
ALPHABET INC-CL
3.07%
META PLATFORMS
2.48%
TESLA
1.83%
JPMORGAN CHASE
1.66%
EXXON
1.51%
LILLY
1.43%
JOHNSON&JOHNSON
1.34%
BERKSHIRE HATHWAY
1.31%
VISA INCORPORATION
1.09%
CISCO-T
1.04%
Frequently asked questions about BFRZ and PHEQ
How have the BFRZ and PHEQ ETFs performed in 2026?
As of June 12, 2026, BFRZ is up 0.48% year-to-date (YTD), while PHEQ has returned 5.41%. That puts PHEQ better performer ahead so far this year.
Which ETF is attracting more investor money: BFRZ or PHEQ?
Year-to-date, the BFRZ ETF saw +$60M in flows, compared to -$8M for PHEQ.
Which ETF is more volatile: BFRZ or PHEQ?
Over the past year, BFRZ had a volatility of 5.31%, while PHEQ experienced 6.65%.
Which ETF is bigger: BFRZ or PHEQ?
As of June 12, 2026, BFRZ holds $138.50 M in assets under management (AUM), while PHEQ manages $137.12 M.
What sectors do the BFRZ and PHEQ ETFs invest in?
BFRZ leans toward sectors like Information Technology, Communication Services and Consumer Discretionary. Meanwhile, PHEQ focuses on Information Technology, Communication Services and Consumer Discretionary.
What are the top holdings of the BFRZ ETF and PHEQ ETF?
BFRZ top holdings include NVIDIA, APPLE and MICROSOFT-T. PHEQ holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: BFRZ or PHEQ?
BFRZ holds 182 securities with 44.68% of its assets in the top 15. PHEQ has 177 securities and a top 15 weight of 45.03%.
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Latest news about BFRZ & PHEQ
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