PHEQvsILCBETF Comparison
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Parametric Hedged Equity ETF (PHEQ) belongs to the Options Strategies segment. iShares Morningstar U.S. Equity ETF (ILCB) is part of the US Large Cap segment. Both ETFs have the same top 3 sector exposures: Technology, Finance and Consumer Non-Cyclicals. PHEQ is more expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.03% for ILCB. PHEQ is up 7.43% year-to-date (YTD) with -$6M in YTD flows. ILCB performs better with 13.46% YTD performance, and -$14M in YTD flows. Run a side-by-side ETF comparison of PHEQ and ILCB 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 ILCB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/06/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PHEQ ILCB | +0.98%+2.23% | +2.61%+5.03% | +7.43%+13.46% | +13.09%+22.63% | n/a+78.01% | n/a+81.96% |
| Flows | PHEQ ILCB | -$13K+$10M | +$3M+$126K | -$6M-$14M | +$26M-$5M | --$51M | --$165M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PHEQ ILCB | +5.96%+14.10% | +6.60%+13.15% | n/a+15.33% | n/a+17.40% |
| Max drawdown | PHEQ ILCB | -1.73%-4.59% | -3.96%-9.09% | n/a-19.10% | n/a-25.46% |
| Max drawdown duration | PHEQ ILCB | 19d62d | 86d76d | n/a126d | n/a715d |
Trading data
PHEQ | ILCB | |
Last sale 8/7/2026 at 6:32 PM | $35.06 | $107.08 |
| Previous close 08/06/2026 | $34.92 | $106.48 |
| Consolidated volume 08/06/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of July 31, 2026
1-year trailing difference
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PHEQ
is actively managed and doesn’t replicate an indexPHEQ | ILCB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 8/7/2026 at 6:32 PM
Live
Closed
PHEQ | ILCB | |
|---|---|---|
| Last price | $35.06 | $107.08 |
| 1D performance | +0.40% | +0.56% |
| AuM | $141.30 M | $1.31 B |
| E/R | 0.29% | 0.03% |
Characteristics
PHEQ | ILCB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Morgan Stanley | iShares |
| Benchmark | - | Morningstar US Large-Mid Cap Index |
| N° of holdings | 169 | 520 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 19, 2023 | June 28, 2004 |
| ESG | No | No |
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Exposure
Countries
PHEQ
USA
100.19%
Other
-0.19%
ILCB
USA
97.48%
Other
2.52%
Sectors
PHEQ
Technology
46.23%
Finance
13.58%
Consumer Non-Cycl.
9.39%
Healthcare
9.11%
Industrials
8.04%
Other
13.66%
ILCB
Technology
45.52%
Finance
13.04%
Consumer Non-Cycl.
8.78%
Healthcare
8.74%
Industrials
8.31%
Other
15.61%
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Diversification
PHEQ
Total weight of top 15 holdings out of 15
46.28%
ILCB
Total weight of top 15 holdings out of 15
42.15%
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%
ILCB
NVIDIA Corp.
7.16%
Apple, Inc.
6.48%
Microsoft Corp.
4.23%
Amazon.com, Inc.
3.57%
Alphabet, Inc.
3.19%
Broadcom Inc.
2.68%
Alphabet, Inc.
2.54%
Micron Technology, Inc.
1.98%
Meta Platforms, Inc.
1.88%
Tesla, Inc.
1.81%
Eli Lilly & Co.
1.47%
Advanced Micro Devices, Inc.
1.44%
Berkshire Hathaway, Inc.
1.42%
JPMorgan Chase & Co.
1.35%
Johnson & Johnson
0.93%
Frequently asked questions about PHEQ and ILCB
How have the PHEQ and ILCB ETFs performed in 2026?
As of August 6, 2026, PHEQ is up 7.43% year-to-date (YTD), while ILCB has returned 13.46%. That puts ILCB better performer ahead so far this year.
Which ETF is attracting more investor money: PHEQ or ILCB?
Year-to-date, the PHEQ ETF saw -$6M in flows, compared to -$14M for ILCB.
Which ETF is more volatile: PHEQ or ILCB?
Over the past year, PHEQ had a volatility of 6.6%, while ILCB experienced 13.15%.
Which ETF is bigger: PHEQ or ILCB?
As of August 6, 2026, PHEQ holds $141.30 M in assets under management (AUM), while ILCB manages $1.31 B.
What sectors do the PHEQ and ILCB ETFs invest in?
PHEQ leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, ILCB focuses on Technology, Finance and Consumer Non-Cyclicals.
What are the top holdings of the PHEQ ETF and ILCB ETF?
PHEQ top holdings include NVIDIA Corp., Apple, Inc. and Microsoft Corp.. ILCB holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..
Which ETF is more diversified: PHEQ or ILCB?
PHEQ holds 171 securities with 46.28% of its assets in the top 15. ILCB has 529 securities and a top 15 weight of 42.15%.
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