HEGDvsSPYETF Comparison
VS
Swan Hedged Equity US Large Cap ETF (HEGD) belongs to the Options Strategies segment. State Street 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 Consumer Discretionary. HEGD is more expensive with a Total Expense Ratio (TER) of 0.87%, versus 0.0945% for SPY. HEGD is up 5.78% year-to-date (YTD) with +$56M in YTD flows. SPY performs better with 10.16% YTD performance, and -$20.28B 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.
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HEGD vs SPY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 06/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | HEGD SPY | +0.67%+1.44% | +7.15%+13.53% | +5.78%+10.16% | +16.97%+26.80% | +47.05%+77.39% | +52.91%+92.63% |
| Flows | HEGD SPY | +$13M-$16.63B | +$45M+$7.63B | +$56M-$20.28B | +$195M+$309M | +$432M+$40.10B | +$504M+$70.87B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | HEGD SPY | +9.18%+15.51% | +7.43%+12.48% | +8.19%+14.99% | +9.24%+16.98% |
| Max drawdown | HEGD SPY | -3.16%-4.46% | -4.33%-8.89% | -8.39%-18.74% | -14.21%-24.50% |
| Max drawdown duration | HEGD SPY | 16d16d | 77d76d | 124d126d | 721d708d |
Trading data
HEGD | SPY | |
Last sale 6/18/2026 at 1:30 PM | $26.72 | $746.74 |
| Previous close 06/18/2026 | $26.54 | $740.96 |
| Consolidated volume 06/18/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of May 29, 2026
1-year trailing difference
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HEGD
is actively managed and doesn’t replicate an indexHEGD | SPY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 6/18/2026 at 1:30 PM
Live
Closed
HEGD | SPY | |
|---|---|---|
| Last price | $26.72 | $746.74 |
| 1D performance | +0.68% | +0.78% |
| AuM | $693.96 M | $758.88 B |
| E/R | 0.87% | 0.0945% |
Characteristics
HEGD | SPY | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Swan Capital Management | State Street Investment Management |
| Benchmark | - | S&P 500 Index |
| N° of holdings | 478 | 478 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 23, 2020 | January 22, 1993 |
| ESG | No | No |
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Exposure
Countries
HEGD
USA
87.8%
Other
12.2%
SPY
USA
96.99%
Other
3.01%
Sectors
HEGD
Information Techn.
32.31%
Communication Ser.
9.94%
Consumer Discreti.
9.15%
Financials
8.96%
Health Care
7.58%
Industrials
7.32%
Other
24.74%
SPY
Information Techn.
35.7%
Communication Ser.
10.98%
Consumer Discreti.
10.11%
Financials
9.89%
Health Care
8.38%
Industrials
8.08%
Other
16.86%
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Diversification
HEGD
Total weight of top 15 holdings out of 15
39.75%
SPY
Total weight of top 15 holdings out of 15
43.91%
Top 15 holdings
Data as of April 30, 2026
HEGD
NVIDIA
7.11%
APPLE
5.84%
MICROSOFT-T
4.44%
AMAZON.COM INC
3.79%
ALPHABET INC-CL
3.28%
BROADCOM LIMITED
2.90%
ALPHABET INC-CL
2.62%
META PLATFORMS
1.96%
TESLA
1.57%
BERKSHIRE HATHWAY
1.27%
JPMORGAN CHASE
1.24%
LILLY
1.09%
EXXON
0.95%
MICRON TECHNOLOGY
0.85%
WALMART INC
0.85%
SPY
NVIDIA
7.85%
APPLE
6.45%
MICROSOFT-T
4.90%
AMAZON.COM INC
4.19%
ALPHABET INC-CL
3.63%
BROADCOM LIMITED
3.20%
ALPHABET INC-CL
2.89%
META PLATFORMS
2.17%
TESLA
1.74%
BERKSHIRE HATHWAY
1.41%
JPMORGAN CHASE
1.37%
LILLY
1.20%
EXXON
1.04%
MICRON TECHNOLOGY
0.94%
WALMART INC
0.94%
Frequently asked questions about HEGD and SPY
How have the HEGD and SPY ETFs performed in 2026?
As of June 18, 2026, HEGD is up 5.78% year-to-date (YTD), while SPY has returned 10.16%. That puts SPY better performer ahead so far this year.
Which ETF is attracting more investor money: HEGD or SPY?
Year-to-date, the HEGD ETF saw +$56M in flows, compared to -$20.28B for SPY.
Which ETF is more volatile: HEGD or SPY?
Over the past year, HEGD had a volatility of 7.43%, while SPY experienced 12.48%.
Which ETF is bigger: HEGD or SPY?
As of June 18, 2026, HEGD holds $693.96 M in assets under management (AUM), while SPY manages $758.88 B.
What sectors do the HEGD and SPY ETFs invest in?
HEGD leans toward sectors like Information Technology, Communication Services and Consumer Discretionary. Meanwhile, SPY focuses on Information Technology, Communication Services and Consumer Discretionary.
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 503 securities with 39.75% of its assets in the top 15. SPY has 503 securities and a top 15 weight of 43.91%.
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