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: Information Technology, Communication Services and Consumer Discretionary. Both PEPS and PHEQ have the same Total Expense Ratio (TER) of 0.29%. PEPS is up 3.31% year-to-date (YTD) with - in YTD flows. PHEQ performs better with 3.47% YTD performance, and -$10M 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 04/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PEPS PHEQ | +11.09%+6.79% | +0.94%+2.75% | +3.31%+3.47% | +32.46%+19.80% | n/an/a | n/an/a |
| Flows | PEPS PHEQ | -+$5M | --$8M | --$10M | -+$23M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PEPS PHEQ | +16.42%+8.37% | +13.25%+7.14% | n/an/a | n/an/a |
| Max drawdown | PEPS PHEQ | -9.84%-3.79% | -9.84%-3.96% | n/an/a | n/an/a |
| Max drawdown duration | PEPS PHEQ | 80d71d | 80d86d | n/an/a | n/an/a |
Trading data
PEPS | PHEQ | |
Last sale 4/29/2026 at 1:30 PM | $30.13 | $33.65 |
| Previous close 04/28/2026 | $30.14 | $33.66 |
| Consolidated volume 04/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 4/29/2026 at 1:30 PM
Live
Closed
PEPS | PHEQ | |
|---|---|---|
| Last price | $30.13 | $33.65 |
| 1D performance | -0.05% | -0.02% |
| AuM | $25.72 M | $132.92 M |
| E/R | 0.29% | 0.29% |
Characteristics
PEPS | PHEQ | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Morgan Stanley | Morgan Stanley |
| Benchmark | - | - |
| N° of holdings | 174 | 173 |
| 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
91.64%
Other
8.36%
PHEQ
USA
93.2%
Other
6.8%
Sectors
PEPS
Information Techn.
32.33%
Communication Ser.
10.58%
Consumer Discreti.
9.43%
Health Care
9.41%
Financials
9.35%
Other
28.9%
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%
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Diversification
PEPS
Total weight of top 15 holdings out of 15
42.48%
PHEQ
Total weight of top 15 holdings out of 15
43.64%
Top 15 holdings
Data as of March 31, 2026
PEPS
NVIDIA
6.74%
APPLE
6.41%
MICROSOFT-T
4.79%
AMAZON.COM INC
3.60%
ALPHABET INC-CL
2.89%
BROADCOM LIMITED
2.65%
ALPHABET INC-CL
2.59%
META PLATFORMS
2.27%
TESLA
1.88%
JPMORGAN CHASE
1.66%
EXXON
1.62%
LILLY
1.58%
BERKSHIRE HATHWAY
1.37%
JOHNSON&JOHNSON
1.33%
VISA INCORPORATION
1.10%
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 PEPS and PHEQ
How have the PEPS and PHEQ ETFs performed in 2026?
As of April 27, 2026, PEPS is up 3.31% year-to-date (YTD), while PHEQ has returned 3.47%. That puts PHEQ better performer ahead so far this year.
Which ETF is attracting more investor money: PEPS or PHEQ?
Year-to-date, the PEPS ETF saw - in flows, compared to -$10M for PHEQ.
Which ETF is more volatile: PEPS or PHEQ?
Over the past year, PEPS had a volatility of 13.25%, while PHEQ experienced 7.14%.
Which ETF is bigger: PEPS or PHEQ?
As of April 27, 2026, PEPS holds $25.72 M in assets under management (AUM), while PHEQ manages $132.92 M.
What sectors do the PEPS and PHEQ ETFs invest in?
PEPS leans toward sectors like Information Technology, Communication Services and Consumer Discretionary. Meanwhile, PHEQ focuses on Information Technology, Communication Services and Consumer Discretionary.
What are the top holdings of the PEPS ETF and PHEQ ETF?
PEPS top holdings include NVIDIA, APPLE and MICROSOFT-T. PHEQ holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: PEPS or PHEQ?
PEPS holds 184 securities with 42.48% of its assets in the top 15. PHEQ has 182 securities and a top 15 weight of 43.64%.
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Latest news about PEPS & PHEQ
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