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HEGDvsSPYETF Comparison
Swan Hedged Equity US Large Cap ETF (HEGD) belongs to the Options Strategies segment. SPDR S&P 500 ETF Trust (SPY) is part of the US Large Cap segment. Both ETFs have the same top 3 sector exposures: Information Technology, Communication Services and Financials. HEGD is more expensive with a Total Expense Ratio (TER) of 0.88%, versus 0.0945% for SPY. HEGD is down -0.15% year-to-date (YTD) with +$9M in YTD flows. SPY performs worse with -0.79% YTD performance, and -$34.44B in YTD flows. Run a side-by-side ETF comparison of HEGD and SPY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
HEGD vs SPY performance and flow charts
Performance
Cumulative Flows
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | HEGD SPY | -1.13%-2.26% | -0.95%-1.53% | -0.15%-0.79% | +15.43%+23.00% | +49.98%+82.66% | +48.81%+84.18% |
| Flows | HEGD SPY | -$7M-$17.02B | +$12M-$36.26B | +$9M-$34.44B | +$185M-$40.74B | +$388M+$36.38B | +$490M+$54.93B |
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | HEGD SPY | +6.03%+11.50% | +8.32%+18.15% | +8.14%+14.77% | +9.16%+16.79% |
| Max drawdown | HEGD SPY | -1.80%-3.28% | -4.69%-13.71% | -8.39%-18.74% | -14.21%-24.50% |
| Max drawdown duration | HEGD SPY | 12d43d | 36d45d | 124d126d | 721d708d |
HEGD | SPY | |
Last sale 3/11/2026 at 1:30 PM | $25.18 | $676.33 |
| Previous close 03/11/2026 | $25.24 | $677.18 |
| Consolidated volume 03/11/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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HEGD | SPY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
HEGD | SPY | |
|---|---|---|
| Last price | $25.18 | $676.33 |
| 1D performance | -0.23% | -0.13% |
| AuM | $608.73 M | $672.40 B |
| E/R | 0.88% | 0.0945% |
HEGD | SPY | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Swan Capital Management | SPDR |
| Benchmark | - | S&P 500 Index |
| N° of holdings | 479 | 479 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 23, 2020 | January 22, 1993 |
| ESG | No | No |
Countries
Sectors
Diversification
Total weight of top 15 holdings out of 15
Total weight of top 15 holdings out of 15
Top 15 holdings
How have the HEGD and SPY ETFs performed in 2026?
As of March 11, 2026, HEGD is down -0.15% year-to-date (YTD), while SPY has lost -0.79%. That puts HEGD better performer ahead so far this year.
Which ETF is attracting more investor money: HEGD or SPY?
Year-to-date, the HEGD ETF saw +$9M in flows, compared to -$34.44B for SPY.
Which ETF is more volatile: HEGD or SPY?
Over the past year, HEGD had a volatility of 8.32%, while SPY experienced 18.15%.
Which ETF is bigger: HEGD or SPY?
As of March 11, 2026, HEGD holds $608.73 M in assets under management (AUM), while SPY manages $672.40 B.
What sectors do the HEGD and SPY ETFs invest in?
HEGD leans toward sectors like Information Technology, Communication Services and Financials. Meanwhile, SPY focuses on Information Technology, Communication Services and Financials.
What are the top holdings of the HEGD ETF and SPY ETF?
HEGD top holdings include NVIDIA, APPLE and MICROSOFT-T. SPY holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: HEGD or SPY?
HEGD holds 502 securities with 39.41% of its assets in the top 15. SPY has 502 securities and a top 15 weight of 44.02%.
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