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DEMZvsPHEQETF Comparison

ETF 1

DEMZ

The Democratic Large-Cap Core ETF

This fund is part of

US Large Cap

+0%

Full DEMZ fund page

VS

ETF 2

PHEQ

Parametric Hedged Equity ETF

This fund is part of

Options Strategies

+0%

Full PHEQ fund page

The Democratic Large-Cap Core ETF (DEMZ) belongs to the US Large Cap segment. Parametric Hedged Equity ETF (PHEQ) is part of the Options Strategies segment. DEMZ's top 3 sector exposures are Information Technology, Communication Services and Financials. In contrast, PHEQ's top sector exposures are Information Technology, Communication Services and Consumer Discretionary. DEMZ is more expensive with a Total Expense Ratio (TER) of 0.45%, versus 0.29% for PHEQ. DEMZ is up 2.79% year-to-date (YTD) with +$4M in YTD flows. PHEQ performs better with 3.35% YTD performance, and -$10M in YTD flows. Run a side-by-side ETF comparison of DEMZ 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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DEMZ vs PHEQ performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 04/28/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	DEMZ PHEQ	+12.27%+6.66%	-0.66%+2.84%	+2.79%+3.35%	+30.28%+19.66%	+76.42%n/a	+77.39%n/a
Flows	DEMZ PHEQ	-+$5M	+$2M-$8M	+$4M-$10M	+$9M+$23M	+$17M-	+$38M-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	DEMZ PHEQ	+18.25%+8.36%	+14.39%+7.12%	+15.93%n/a	+18.34%n/a
Max drawdown	DEMZ PHEQ	-11.69%-3.73%	-12.25%-3.96%	-19.10%n/a	-27.17%n/a
Max drawdown duration	DEMZ PHEQ	77d57d	91d86d	187dn/a	719dn/a

Trading data

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	DEMZ	PHEQ
Last sale 4/30/2026 at 1:30 PM	$44.07	$33.83
Previous close 04/29/2026	$43.80	$33.65
Consolidated volume 04/29/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Main metrics

Last update 4/30/2026 at 1:30 PM

Live

Closed

	DEMZ	PHEQ
Last price	$44.07	$33.83
1D performance	+0.62%	+0.53%
AuM	$59.18 M	$132.76 M
E/R	0.45%	0.29%

Characteristics

	DEMZ	PHEQ
Management strategy	Active	Active
Provider	Reflection Asset Management	Morgan Stanley
Benchmark	-	-
N° of holdings	42	173
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	November 2, 2020	October 19, 2023
ESG	No	No

More DEMZ data on Trackinsight

More PHEQ data on Trackinsight

Exposure

Countries

DEMZ

USA

95.7%

Other

4.3%

PHEQ

USA

93.2%

Other

6.8%

Sectors

DEMZ

Information Techn.

38.05%

Communication Ser.

13.56%

Financials

9.15%

Industrials

7.57%

Other

31.67%

PHEQ

Information Techn.

33.71%

Communication Ser.

10.57%

Consumer Discreti.

9.49%

Financials

9.34%

Health Care

8.92%

Industrials

7.64%

Other

20.33%

Diversification

DEMZ

Total weight of top 15 holdings out of 15

57.85%

PHEQ

Total weight of top 15 holdings out of 15

43.64%

Top 15 holdings

Data as of March 31, 2026

DEMZ

APPLE

5.14%

NVIDIA

4.89%

MICROSOFT-T

4.78%

COSTCO WHOLESALE

4.63%

LOEWS

4.58%

US5128073062

4.33%

KLA CORPORATION

4.27%

AMPHENOL

4.25%

NORDSON

4.03%

XYLEM

3.54%

META PLATFORMS

3.29%

AVERY DENNISON

3.18%

ALPHABET INC-CL

2.37%

EVEREST REINSURANCE GROUP

2.33%

KIMCO REALTY REIT

2.24%

PHEQ

NVIDIA

7.24%

APPLE

6.63%

MICROSOFT-T

4.74%

AMAZON.COM INC

3.62%

ALPHABET INC-CL

3.05%

ALPHABET INC-CL

2.65%

BROADCOM LIMITED

2.59%

META PLATFORMS

2.22%

TESLA

1.89%

EXXON

1.78%

JPMORGAN CHASE

1.65%

LILLY

1.58%

JOHNSON&JOHNSON

1.51%

BERKSHIRE HATHWAY

1.38%

VISA INCORPORATION

1.11%

Frequently asked questions about DEMZ and PHEQ

How have the DEMZ and PHEQ ETFs performed in 2026?

As of April 28, 2026, DEMZ is up 2.79% year-to-date (YTD), while PHEQ has returned 3.35%. That puts PHEQ better performer ahead so far this year.

Which ETF is attracting more investor money: DEMZ or PHEQ?

Year-to-date, the DEMZ ETF saw +$4M in flows, compared to -$10M for PHEQ.

Which ETF is more volatile: DEMZ or PHEQ?

Over the past year, DEMZ had a volatility of 14.39%, while PHEQ experienced 7.12%.

Which ETF is bigger: DEMZ or PHEQ?

As of April 28, 2026, DEMZ holds $59.18 M in assets under management (AUM), while PHEQ manages $132.76 M.

What sectors do the DEMZ and PHEQ ETFs invest in?

DEMZ leans toward sectors like Information Technology, Communication Services and Financials. Meanwhile, PHEQ focuses on Information Technology, Communication Services and Consumer Discretionary.

What are the top holdings of the DEMZ ETF and PHEQ ETF?

DEMZ top holdings include APPLE, NVIDIA and MICROSOFT-T. PHEQ holds in its top three: NVIDIA, APPLE and MICROSOFT-T.

Which ETF is more diversified: DEMZ or PHEQ?

DEMZ holds 44 securities with 57.85% of its assets in the top 15. PHEQ has 182 securities and a top 15 weight of 43.64%.

Parametric's Innovation Continues Under New Leadership from Morgan Stanley with Launch of PHEQ and PAPI

November 16, 2023

PHEQ

DEMZvsPHEQETF Comparison

The Democratic Large-Cap Core ETF

Parametric Hedged Equity ETF

DEMZ vs PHEQ performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the DEMZ and PHEQ ETFs performed in 2026?

As of April 28, 2026, DEMZ is up 2.79% year-to-date (YTD), while PHEQ has returned 3.35%. That puts PHEQ better performer ahead so far this year.

Which ETF is attracting more investor money: DEMZ or PHEQ?

Year-to-date, the DEMZ ETF saw +$4M in flows, compared to -$10M for PHEQ.

Which ETF is more volatile: DEMZ or PHEQ?

Over the past year, DEMZ had a volatility of 14.39%, while PHEQ experienced 7.12%.

Which ETF is bigger: DEMZ or PHEQ?

As of April 28, 2026, DEMZ holds $59.18 M in assets under management (AUM), while PHEQ manages $132.76 M.

What sectors do the DEMZ and PHEQ ETFs invest in?

DEMZ leans toward sectors like Information Technology, Communication Services and Financials. Meanwhile, PHEQ focuses on Information Technology, Communication Services and Consumer Discretionary.

What are the top holdings of the DEMZ ETF and PHEQ ETF?

DEMZ top holdings include APPLE, NVIDIA and MICROSOFT-T. PHEQ holds in its top three: NVIDIA, APPLE and MICROSOFT-T.

Which ETF is more diversified: DEMZ or PHEQ?

DEMZ holds 44 securities with 57.85% of its assets in the top 15. PHEQ has 182 securities and a top 15 weight of 43.64%.

Parametric's Innovation Continues Under New Leadership from Morgan Stanley with Launch of PHEQ and PAPI

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