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FHEQvsHEGDETF Comparison

ETF 1

FHEQ

Fidelity Hedged Equity ETF

This fund is part of

Options Strategies

-0.07%

Full FHEQ fund page

VS

ETF 2

HEGD

Swan Hedged Equity US Large Cap ETF

This fund is part of

Options Strategies

-0.07%

Full HEGD fund page

Fidelity Hedged Equity ETF (FHEQ) and Swan Hedged Equity US Large Cap ETF (HEGD) belong to the same industry segment: Options Strategies. FHEQ's top 3 sector exposures are Information Technology, Communication Services and Financials. In contrast, HEGD's top sector exposures are Information Technology, Financials and Communication Services. FHEQ is less expensive with a Total Expense Ratio (TER) of 0.52%, versus 0.87% for HEGD. FHEQ is up 2.52% year-to-date (YTD) with +$31M in YTD flows. HEGD performs worse with 2.3% YTD performance, and +$41M in YTD flows. Run a side-by-side ETF comparison of FHEQ and HEGD 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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FHEQ vs HEGD 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 04/23/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FHEQ HEGD	+6.67%+4.16%	+2.42%+1.66%	+2.52%+2.30%	+23.39%+19.20%	n/a+47.40%	n/a+47.03%
Flows	FHEQ HEGD	-$57M+$28M	-$16M+$32M	+$31M+$41M	+$162M+$202M	-+$419M	-+$512M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FHEQ HEGD	+10.50%+7.34%	+9.65%+7.04%	n/a+8.16%	n/a+9.17%
Max drawdown	FHEQ HEGD	-7.39%-4.33%	-7.39%-4.33%	n/a-8.39%	n/a-14.21%
Max drawdown duration	FHEQ HEGD	71d77d	71d77d	n/a124d	n/a721d

Trading data

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	FHEQ	HEGD
Last sale 4/24/2026 at 1:30 PM	$31.76	$25.98
Previous close 04/23/2026	$31.49	$25.83
Consolidated volume 04/23/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Main metrics

Last update 4/24/2026 at 1:30 PM

Live

Closed

	FHEQ	HEGD
Last price	$31.76	$25.98
1D performance	+0.86%	+0.58%
AuM	$807.71 M	$656.95 M
E/R	0.52%	0.87%

Characteristics

	FHEQ	HEGD
Management strategy	Active	Active
Provider	Fidelity	Swan Capital Management
Benchmark	-	-
N° of holdings	146	478
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	April 9, 2024	December 23, 2020
ESG	No	No

More FHEQ data on Trackinsight

More HEGD data on Trackinsight

Exposure

Countries

FHEQ

USA

96.67%

Other

3.33%

HEGD

USA

82.45%

Other

17.55%

Sectors

FHEQ

Information Techn.

36.08%

Communication Ser.

11.45%

Financials

10.8%

Consumer Discreti.

10.01%

Industrials

8.77%

Health Care

8.07%

Other

14.82%

HEGD

Information Techn.

28.86%

Financials

8.83%

Communication Ser.

8.7%

Consumer Discreti.

8.52%

Health Care

7.93%

Industrials

7.08%

Other

30.08%

Diversification

FHEQ

Total weight of top 15 holdings out of 15

46.29%

HEGD

Total weight of top 15 holdings out of 15

36.14%

Top 15 holdings

Data as of March 31, 2026

FHEQ

NVIDIA

7.80%

APPLE

7.42%

MICROSOFT-T

4.82%

AMAZON.COM INC

4.02%

BROADCOM LIMITED

3.17%

ALPHABET INC-CL

3.13%

META PLATFORMS

2.42%

ALPHABET INC-CL

2.36%

BERKSHIRE HATHWAY

2.15%

JPMORGAN CHASE

1.72%

LILLY

1.69%

EXXON

1.65%

TESLA

1.50%

MASTERCARD

1.22%

ABBVIE

1.21%

HEGD

NVIDIA

6.44%

APPLE

5.67%

MICROSOFT-T

4.18%

AMAZON.COM INC

3.09%

ALPHABET INC-CL

2.55%

BROADCOM LIMITED

2.23%

ALPHABET INC-CL

2.04%

META PLATFORMS

1.90%

TESLA

1.59%

BERKSHIRE HATHWAY

1.34%

JPMORGAN CHASE

1.21%

LILLY

1.11%

EXXON

1.08%

JOHNSON&JOHNSON

0.90%

WALMART INC

0.83%

Frequently asked questions about FHEQ and HEGD

How have the FHEQ and HEGD ETFs performed in 2026?

As of April 23, 2026, FHEQ is up 2.52% year-to-date (YTD), while HEGD has returned 2.3%. That puts FHEQ better performer ahead so far this year.

Which ETF is attracting more investor money: FHEQ or HEGD?

Year-to-date, the FHEQ ETF saw +$31M in flows, compared to +$41M for HEGD.

Which ETF is more volatile: FHEQ or HEGD?

Over the past year, FHEQ had a volatility of 9.65%, while HEGD experienced 7.04%.

Which ETF is bigger: FHEQ or HEGD?

As of April 23, 2026, FHEQ holds $807.71 M in assets under management (AUM), while HEGD manages $656.95 M.

What sectors do the FHEQ and HEGD ETFs invest in?

FHEQ leans toward sectors like Information Technology, Communication Services and Financials. Meanwhile, HEGD focuses on Information Technology, Financials and Communication Services.

What are the top holdings of the FHEQ ETF and HEGD ETF?

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

Which ETF is more diversified: FHEQ or HEGD?

FHEQ holds 157 securities with 46.29% of its assets in the top 15. HEGD has 502 securities and a top 15 weight of 36.14%.

Tony’s ETF Buyer’s Guide: Hedged Equity ETFs

February 10, 2026

FHEQ

FHEQvsHEGDETF Comparison

Fidelity Hedged Equity ETF

Swan Hedged Equity US Large Cap ETF

FHEQ vs HEGD 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 FHEQ and HEGD ETFs performed in 2026?

As of April 23, 2026, FHEQ is up 2.52% year-to-date (YTD), while HEGD has returned 2.3%. That puts FHEQ better performer ahead so far this year.

Which ETF is attracting more investor money: FHEQ or HEGD?

Year-to-date, the FHEQ ETF saw +$31M in flows, compared to +$41M for HEGD.

Which ETF is more volatile: FHEQ or HEGD?

Over the past year, FHEQ had a volatility of 9.65%, while HEGD experienced 7.04%.

Which ETF is bigger: FHEQ or HEGD?

As of April 23, 2026, FHEQ holds $807.71 M in assets under management (AUM), while HEGD manages $656.95 M.

What sectors do the FHEQ and HEGD ETFs invest in?

FHEQ leans toward sectors like Information Technology, Communication Services and Financials. Meanwhile, HEGD focuses on Information Technology, Financials and Communication Services.

What are the top holdings of the FHEQ ETF and HEGD ETF?

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

Which ETF is more diversified: FHEQ or HEGD?

FHEQ holds 157 securities with 46.29% of its assets in the top 15. HEGD has 502 securities and a top 15 weight of 36.14%.

Tony’s ETF Buyer’s Guide: Hedged Equity ETFs

Active Trader Report: Use of Leveraged & Inverse ETFs Way Up