PHEQvsBFRZETF Comparison
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Parametric Hedged Equity ETF (PHEQ) and Innovator Equity Managed 100 Buffer ETF (BFRZ) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Technology, Finance and Consumer Non-Cyclicals. PHEQ is less expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.89% for BFRZ. PHEQ is up 6.97% year-to-date (YTD) with -$6M in YTD flows. BFRZ performs worse with 1.4% YTD performance, and +$60M in YTD flows. Run a side-by-side ETF comparison of PHEQ and BFRZ 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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PHEQ vs BFRZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/05/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PHEQ BFRZ | +0.55%-0.01% | +2.17%+2.02% | +6.97%+1.40% | +13.15%+6.22% | n/an/a | n/an/a |
| Flows | PHEQ BFRZ | -$13K+$3M | +$3M+$12M | -$6M+$60M | +$26M+$99M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PHEQ BFRZ | +5.96%+7.48% | +6.61%+5.89% | n/an/a | n/an/a |
| Max drawdown | PHEQ BFRZ | -1.73%-2.72% | -3.96%-2.98% | n/an/a | n/an/a |
| Max drawdown duration | PHEQ BFRZ | 19d64d | 86d102d | n/an/a | n/an/a |
Trading data
PHEQ | BFRZ | |
Last sale 8/5/2026 at 7:58 PM | $34.88 | $27.15 |
| Previous close 08/05/2026 | $34.92 | $27.16 |
| Consolidated volume 08/05/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 8/5/2026 at 7:58 PM
Live
Closed
PHEQ | BFRZ | |
|---|---|---|
| Last price | $34.88 | $27.15 |
| 1D performance | -0.13% | -0.05% |
| AuM | $140.70 M | $139.69 M |
| E/R | 0.29% | 0.89% |
Characteristics
PHEQ | BFRZ | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Morgan Stanley | Innovator |
| Benchmark | - | - |
| N° of holdings | 169 | 177 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 19, 2023 | May 13, 2025 |
| ESG | No | No |
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Exposure
Countries
PHEQ
USA
100.19%
Other
-0.19%
BFRZ
USA
93.91%
Other
6.09%
Sectors
PHEQ
Technology
46.23%
Finance
13.58%
Consumer Non-Cycl.
9.39%
Healthcare
9.11%
Industrials
8.04%
Other
13.66%
BFRZ
Technology
43.72%
Finance
12.63%
Consumer Non-Cycl.
8.78%
Healthcare
8.5%
Industrials
7.45%
Other
18.92%
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Diversification
PHEQ
Total weight of top 15 holdings out of 15
46.28%
BFRZ
Total weight of top 15 holdings out of 15
43.32%
Top 15 holdings
Data as of June 30, 2026
PHEQ
NVIDIA Corp.
7.60%
Apple, Inc.
6.96%
Microsoft Corp.
4.43%
Amazon.com, Inc.
3.83%
Alphabet, Inc.
3.43%
Alphabet, Inc.
2.96%
Broadcom Inc.
2.93%
Tesla, Inc.
2.15%
Micron Technology, Inc.
2.14%
Meta Platforms, Inc.
1.97%
Eli Lilly & Co.
1.86%
JPMorgan Chase & Co.
1.70%
Morgan Stanley Instl. Liquidity Funds - Government Portfolio
1.52%
Johnson & Johnson
1.43%
KLA Corp.
1.38%
BFRZ
NVIDIA Corp.
7.04%
Apple, Inc.
6.49%
Microsoft Corp.
4.20%
Amazon.com, Inc.
3.62%
Alphabet, Inc.
3.12%
Broadcom Inc.
2.75%
Alphabet, Inc.
2.60%
Micron Technology, Inc.
2.34%
Meta Platforms, Inc.
1.92%
Tesla, Inc.
1.87%
Eli Lilly & Co.
1.78%
JPMorgan Chase & Co.
1.65%
Advanced Micro Devices, Inc.
1.51%
Berkshire Hathaway, Inc.
1.24%
Johnson & Johnson
1.19%
Frequently asked questions about PHEQ and BFRZ
How have the PHEQ and BFRZ ETFs performed in 2026?
As of August 5, 2026, PHEQ is up 6.97% year-to-date (YTD), while BFRZ has returned 1.4%. That puts PHEQ better performer ahead so far this year.
Which ETF is attracting more investor money: PHEQ or BFRZ?
Year-to-date, the PHEQ ETF saw -$6M in flows, compared to +$60M for BFRZ.
Which ETF is more volatile: PHEQ or BFRZ?
Over the past year, PHEQ had a volatility of 6.61%, while BFRZ experienced 5.89%.
Which ETF is bigger: PHEQ or BFRZ?
As of August 5, 2026, PHEQ holds $140.70 M in assets under management (AUM), while BFRZ manages $139.69 M.
What sectors do the PHEQ and BFRZ ETFs invest in?
PHEQ leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, BFRZ focuses on Technology, Finance and Consumer Non-Cyclicals.
What are the top holdings of the PHEQ ETF and BFRZ ETF?
PHEQ top holdings include NVIDIA Corp., Apple, Inc. and Microsoft Corp.. BFRZ holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..
Which ETF is more diversified: PHEQ or BFRZ?
PHEQ holds 171 securities with 46.28% of its assets in the top 15. BFRZ has 179 securities and a top 15 weight of 43.32%.
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Latest news about PHEQ & BFRZ
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