PEPSvsPHEQETF Comparison
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Parametric Equity Plus ETF (PEPS) and Parametric Hedged Equity ETF (PHEQ) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Technology, Finance and Consumer Non-Cyclicals. Both PEPS and PHEQ have the same Total Expense Ratio (TER) of 0.29%. PEPS is up 12.46% year-to-date (YTD) with +$2M in YTD flows. PHEQ performs worse with 8.67% YTD performance, and -$858K in YTD flows. Run a side-by-side ETF comparison of PEPS 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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PEPS vs PHEQ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PEPS PHEQ | +0.06%+0.94% | +4.20%+3.03% | +12.46%+8.67% | +18.76%+11.77% | n/an/a | n/an/a |
| Flows | PEPS PHEQ | -+$5M | +$2M+$7M | +$2M-$858K | +$2M+$31M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PEPS PHEQ | +11.90%+5.58% | +14.02%+6.63% | n/an/a | n/an/a |
| Max drawdown | PEPS PHEQ | -3.56%-1.73% | -9.84%-3.96% | n/an/a | n/an/a |
| Max drawdown duration | PEPS PHEQ | 16d19d | 80d86d | n/an/a | n/an/a |
Trading data
PEPS | PHEQ | |
Last sale 9/11/2026 at 1:30 PM | $32.87 | $35.31 |
| Previous close 09/10/2026 | $32.53 | $35.14 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
PEPS | PHEQ | |
|---|---|---|
| Last price | $32.87 | $35.31 |
| 1D performance | +1.05% | +0.48% |
| AuM | $29.57 M | $148.22 M |
| E/R | 0.29% | 0.29% |
Characteristics
PEPS | PHEQ | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Morgan Stanley | Morgan Stanley |
| Benchmark | - | - |
| N° of holdings | 172 | 169 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 7, 2024 | October 19, 2023 |
| ESG | No | No |
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Exposure
Countries
PEPS
USA
97.13%
Other
2.87%
PHEQ
USA
100.61%
Other
-0.61%
Sectors
PEPS
Technology
42.64%
Finance
13.55%
Consumer Non-Cycl.
9.52%
Healthcare
8.45%
Other
25.84%
PHEQ
Technology
45.18%
Finance
14.44%
Consumer Non-Cycl.
10.18%
Healthcare
9.19%
Industrials
7.28%
Other
13.74%
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Diversification
PEPS
Total weight of top 15 holdings out of 15
48.11%
PHEQ
Total weight of top 15 holdings out of 15
47.46%
Top 15 holdings
Data as of July 31, 2026
PEPS
Apple, Inc.
6.77%
NVIDIA Corp.
6.74%
Morgan Stanley Instl. Liquidity Funds - Government Portfolio
5.19%
Microsoft Corp.
5.12%
Amazon.com, Inc.
3.88%
Alphabet, Inc.
3.11%
Broadcom Inc.
2.89%
Alphabet, Inc.
2.79%
Micron Technology, Inc.
1.93%
Meta Platforms, Inc.
1.86%
Advanced Micro Devices, Inc.
1.73%
JPMorgan Chase & Co.
1.73%
Eli Lilly & Co.
1.71%
Tesla, Inc.
1.37%
ExxonMobil Holdings Corp.
1.29%
PHEQ
NVIDIA Corp.
7.65%
Apple, Inc.
7.46%
Microsoft Corp.
5.54%
Amazon.com, Inc.
4.39%
Alphabet, Inc.
3.43%
Broadcom Inc.
3.03%
Alphabet, Inc.
3.00%
Meta Platforms, Inc.
1.95%
JPMorgan Chase & Co.
1.83%
Eli Lilly & Co.
1.79%
Tesla, Inc.
1.60%
Micron Technology, Inc.
1.53%
Johnson & Johnson
1.45%
ExxonMobil Holdings Corp.
1.44%
Berkshire Hathaway, Inc.
1.37%
Frequently asked questions about PEPS and PHEQ
How have the PEPS and PHEQ ETFs performed in 2026?
As of September 11, 2026, PEPS is up 12.46% year-to-date (YTD), while PHEQ has returned 8.67%. That puts PEPS better performer ahead so far this year.
Which ETF is attracting more investor money: PEPS or PHEQ?
Year-to-date, the PEPS ETF saw +$2M in flows, compared to -$858K for PHEQ.
Which ETF is more volatile: PEPS or PHEQ?
Over the past year, PEPS had a volatility of 14.02%, while PHEQ experienced 6.63%.
Which ETF is bigger: PEPS or PHEQ?
As of September 11, 2026, PEPS holds $29.57 M in assets under management (AUM), while PHEQ manages $148.22 M.
What sectors do the PEPS and PHEQ ETFs invest in?
PEPS leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, PHEQ focuses on Technology, Finance and Consumer Non-Cyclicals.
What are the top holdings of the PEPS ETF and PHEQ ETF?
PEPS top holdings include Apple, Inc., NVIDIA Corp. and Morgan Stanley Instl. Liquidity Funds - Government Portfolio. PHEQ holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..
Which ETF is more diversified: PEPS or PHEQ?
PEPS holds 175 securities with 48.11% of its assets in the top 15. PHEQ has 171 securities and a top 15 weight of 47.46%.
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Latest news about PEPS & PHEQ
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