PHEQvsIWBETF Comparison
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Parametric Hedged Equity ETF (PHEQ) belongs to the Options Strategies segment. iShares Russell 1000 ETF (IWB) is part of the US Large Cap segment. PHEQ's top 3 sector exposures are Technology, Finance and Consumer Non-Cyclicals. In contrast, IWB's top sector exposures are Technology, Finance and Healthcare. PHEQ is more expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.15% for IWB. PHEQ is up 6.97% year-to-date (YTD) with -$6M in YTD flows. IWB performs better with 13.3% YTD performance, and -$1.96B in YTD flows. Run a side-by-side ETF comparison of PHEQ and IWB 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 IWB 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 IWB | +0.55%+2.27% | +2.17%+6.72% | +6.97%+13.30% | +13.15%+23.26% | n/a+75.84% | n/a+80.00% |
| Flows | PHEQ IWB | -$13K+$351M | +$3M+$389M | -$6M-$1.96B | +$26M-$1.10B | --$2.12B | --$2.05B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PHEQ IWB | +5.96%+13.97% | +6.61%+13.02% | n/a+15.29% | n/a+17.34% |
| Max drawdown | PHEQ IWB | -1.73%-4.33% | -3.96%-8.86% | n/a-19.16% | n/a-25.17% |
| Max drawdown duration | PHEQ IWB | 19d59d | 86d76d | n/a126d | n/a709d |
Trading data
PHEQ | IWB | |
Last sale 8/5/2026 at 7:58 PM | $34.88 | $420.27 |
| Previous close 08/05/2026 | $34.92 | $421.16 |
| Consolidated volume 08/05/2026 | ||
| 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 | IWB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 8/5/2026 at 7:58 PM
Live
Closed
PHEQ | IWB | |
|---|---|---|
| Last price | $34.88 | $420.27 |
| 1D performance | -0.13% | -0.21% |
| AuM | $140.70 M | $49.90 B |
| E/R | 0.29% | 0.15% |
Characteristics
PHEQ | IWB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Morgan Stanley | iShares |
| Benchmark | - | Russell 1000 Index |
| N° of holdings | 169 | 1006 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 19, 2023 | May 15, 2000 |
| ESG | No | No |
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Exposure
Countries
PHEQ
USA
100.19%
Other
-0.19%
IWB
USA
97.26%
Other
2.74%
Sectors
PHEQ
Technology
46.23%
Finance
13.58%
Consumer Non-Cycl.
9.39%
Healthcare
9.11%
Industrials
8.04%
Other
13.66%
IWB
Technology
43.33%
Finance
13.78%
Healthcare
8.9%
Industrials
8.8%
Consumer Non-Cycl.
8.46%
Other
16.73%
Diversification
PHEQ
Total weight of top 15 holdings out of 15
46.28%
IWB
Total weight of top 15 holdings out of 15
39.67%
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%
IWB
NVIDIA Corp.
6.72%
Apple, Inc.
6.03%
Microsoft Corp.
3.99%
Amazon.com, Inc.
3.33%
Alphabet, Inc.
3.00%
Broadcom Inc.
2.53%
Alphabet, Inc.
2.42%
Micron Technology, Inc.
1.87%
Meta Platforms, Inc.
1.78%
Tesla, Inc.
1.77%
Eli Lilly & Co.
1.38%
Advanced Micro Devices, Inc.
1.36%
Berkshire Hathaway, Inc.
1.34%
JPMorgan Chase & Co.
1.26%
Intel Corp.
0.88%
Frequently asked questions about PHEQ and IWB
How have the PHEQ and IWB ETFs performed in 2026?
As of August 5, 2026, PHEQ is up 6.97% year-to-date (YTD), while IWB has returned 13.3%. That puts IWB better performer ahead so far this year.
Which ETF is attracting more investor money: PHEQ or IWB?
Year-to-date, the PHEQ ETF saw -$6M in flows, compared to -$1.96B for IWB.
Which ETF is more volatile: PHEQ or IWB?
Over the past year, PHEQ had a volatility of 6.61%, while IWB experienced 13.02%.
Which ETF is bigger: PHEQ or IWB?
As of August 5, 2026, PHEQ holds $140.70 M in assets under management (AUM), while IWB manages $49.90 B.
What sectors do the PHEQ and IWB ETFs invest in?
PHEQ leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, IWB focuses on Technology, Finance and Healthcare.
What are the top holdings of the PHEQ ETF and IWB ETF?
PHEQ top holdings include NVIDIA Corp., Apple, Inc. and Microsoft Corp.. IWB holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..
Which ETF is more diversified: PHEQ or IWB?
PHEQ holds 171 securities with 46.28% of its assets in the top 15. IWB has 1023 securities and a top 15 weight of 39.67%.
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