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: Information Technology, Communication Services and Consumer Discretionary. PHEQ is less expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.89% for BFRZ. PHEQ is up 3.81% year-to-date (YTD) with -$10M in YTD flows. BFRZ performs worse with -0.98% YTD performance, and +$48M 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 04/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PHEQ BFRZ | +7.14%+0.44% | +3.75%-1.57% | +3.81%-0.98% | +19.60%n/a | n/an/a | n/an/a |
| Flows | PHEQ BFRZ | +$5M+$7M | -$8M+$20M | -$10M+$48M | +$23M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PHEQ BFRZ | +8.33%+4.97% | +7.12%n/a | n/an/a | n/an/a |
| Max drawdown | PHEQ BFRZ | -3.73%-2.98% | -3.96%n/a | n/an/a | n/an/a |
| Max drawdown duration | PHEQ BFRZ | 57d81d | 86dn/a | n/an/a | n/an/a |
Trading data
PHEQ | BFRZ | |
Last sale 5/1/2026 at 1:30 PM | $33.91 | $26.53 |
| Previous close 04/29/2026 | $33.83 | $26.43 |
| Consolidated volume 04/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 5/1/2026 at 1:30 PM
Live
Closed
PHEQ | BFRZ | |
|---|---|---|
| Last price | $33.91 | $26.53 |
| 1D performance | +0.24% | +0.37% |
| AuM | $133.35 M | $124.56 M |
| E/R | 0.29% | 0.89% |
Characteristics
PHEQ | BFRZ | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Morgan Stanley | Innovator |
| Benchmark | - | - |
| N° of holdings | 173 | 178 |
| 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
93.2%
Other
6.8%
BFRZ
USA
87.13%
Other
12.87%
Sectors
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%
BFRZ
Information Techn.
30%
Communication Ser.
9.19%
Consumer Discreti.
8.95%
Financials
8.84%
Health Care
8.57%
Industrials
7.26%
Other
27.19%
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Diversification
PHEQ
Total weight of top 15 holdings out of 15
43.64%
BFRZ
Total weight of top 15 holdings out of 15
39.49%
Top 15 holdings
Data as of March 31, 2026
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%
BFRZ
NVIDIA
6.53%
APPLE
6.04%
MICROSOFT-T
4.19%
AMAZON.COM INC
3.36%
ALPHABET INC-CL
2.70%
BROADCOM LIMITED
2.40%
ALPHABET INC-CL
2.34%
META PLATFORMS
1.94%
TESLA
1.78%
EXXON
1.60%
JPMORGAN CHASE
1.48%
LILLY
1.43%
JOHNSON&JOHNSON
1.30%
BERKSHIRE HATHWAY
1.29%
WALMART INC
1.11%
Frequently asked questions about PHEQ and BFRZ
How have the PHEQ and BFRZ ETFs performed in 2026?
As of April 30, 2026, PHEQ is up 3.81% year-to-date (YTD), while BFRZ has lost -0.98%. 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 -$10M in flows, compared to +$48M for BFRZ.
Which ETF is bigger: PHEQ or BFRZ?
As of April 30, 2026, PHEQ holds $133.35 M in assets under management (AUM), while BFRZ manages $124.56 M.
What sectors do the PHEQ and BFRZ ETFs invest in?
PHEQ leans toward sectors like Information Technology, Communication Services and Consumer Discretionary. Meanwhile, BFRZ focuses on Information Technology, Communication Services and Consumer Discretionary.
What are the top holdings of the PHEQ ETF and BFRZ ETF?
PHEQ top holdings include NVIDIA, APPLE and MICROSOFT-T. BFRZ holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: PHEQ or BFRZ?
PHEQ holds 182 securities with 43.64% of its assets in the top 15. BFRZ has 193 securities and a top 15 weight of 39.49%.
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Latest news about PHEQ & BFRZ
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