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PHEQvsONOFETF Comparison

ETF 1

PHEQ

Parametric Hedged Equity ETF

This fund is part of

Options Strategies

-0.06%

Full PHEQ fund page

VS

ETF 2

ONOF

Global X Adaptive U.S. Risk Management ETF

This fund is part of

Multi-Asset: Other

-0.09%

Full ONOF fund page

Parametric Hedged Equity ETF (PHEQ) belongs to the Options Strategies segment. Global X Adaptive U.S. Risk Management ETF (ONOF) is part of the Multi-Asset: Other segment. PHEQ's top 3 sector exposures are Technology, Finance and Consumer Non-Cyclicals. In contrast, ONOF's top sector exposures are Technology, Finance and Healthcare. PHEQ is less expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.39% for ONOF. PHEQ is up 7.43% year-to-date (YTD) with -$6M in YTD flows. ONOF performs better with 9.48% YTD performance, and -$13M in YTD flows. Run a side-by-side ETF comparison of PHEQ and ONOF 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 ONOF performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 08/06/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	PHEQ ONOF	+0.98%+2.10%	+2.61%+4.85%	+7.43%+9.48%	+13.09%+18.30%	n/a+42.01%	n/a+50.69%
Flows	PHEQ ONOF	-$13K-$726K	+$3M-$16M	-$6M-$13M	+$26M-$10M	-+$12M	-+$18M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PHEQ ONOF	+5.96%+14.17%	+6.60%+12.28%	n/a+14.40%	n/a+14.59%
Max drawdown	PHEQ ONOF	-1.73%-4.60%	-3.96%-6.75%	n/a-21.66%	n/a-25.41%
Max drawdown duration	PHEQ ONOF	19d62d	86d107d	n/a205d	n/a756d

Trading data

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	PHEQ	ONOF
Last sale 8/7/2026 at 6:32 PM	$35.06	$41.30
Previous close 08/06/2026	$34.92	$40.99
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 index

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	PHEQ	ONOF
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 8/7/2026 at 6:32 PM

Live

Closed

	PHEQ	ONOF
Last price	$35.06	$41.30
1D performance	+0.40%	+0.77%
AuM	$141.30 M	$141.83 M
E/R	0.29%	0.39%

Characteristics

	PHEQ	ONOF
Management strategy	Active	Passive
Provider	Morgan Stanley	Global X
Benchmark	-	Adaptive Wealth Strategies U.S. Risk Management Index
N° of holdings	169	496
Asset class	-	Alternative
Trailing 12m distribution yield	Join	Join
Inception date	October 19, 2023	January 13, 2021
ESG	No	No

More PHEQ data on Trackinsight

More ONOF data on Trackinsight

Exposure

Countries

PHEQ

USA

100.19%

Other

-0.19%

ONOF

USA

97.14%

Other

2.86%

Sectors

PHEQ

Technology

46.23%

Finance

13.58%

Consumer Non-Cycl.

9.39%

Healthcare

9.11%

Industrials

8.04%

Other

13.66%

ONOF

Technology

44.94%

Finance

12.97%

Healthcare

8.91%

Consumer Non-Cycl.

8.83%

Industrials

8.17%

Other

16.17%

Diversification

PHEQ

Total weight of top 15 holdings out of 15

46.28%

ONOF

Total weight of top 15 holdings out of 15

41.97%

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%

ONOF

NVIDIA Corp.

7.05%

Apple, Inc.

6.23%

Microsoft Corp.

4.17%

Amazon.com, Inc.

3.56%

Alphabet, Inc.

3.18%

Alphabet, Inc.

2.75%

Broadcom Inc.

2.68%

Tesla, Inc.

2.13%

Micron Technology, Inc.

2.00%

Meta Platforms, Inc.

1.91%

Eli Lilly & Co.

1.61%

JPMorgan Chase & Co.

1.37%

Advanced Micro Devices, Inc.

1.36%

Berkshire Hathaway, Inc.

1.03%

Johnson & Johnson

0.95%

Frequently asked questions about PHEQ and ONOF

How have the PHEQ and ONOF ETFs performed in 2026?

As of August 6, 2026, PHEQ is up 7.43% year-to-date (YTD), while ONOF has returned 9.48%. That puts ONOF better performer ahead so far this year.

Which ETF is attracting more investor money: PHEQ or ONOF?

Year-to-date, the PHEQ ETF saw -$6M in flows, compared to -$13M for ONOF.

Which ETF is more volatile: PHEQ or ONOF?

Over the past year, PHEQ had a volatility of 6.6%, while ONOF experienced 12.28%.

Which ETF is bigger: PHEQ or ONOF?

As of August 6, 2026, PHEQ holds $141.30 M in assets under management (AUM), while ONOF manages $141.83 M.

What sectors do the PHEQ and ONOF ETFs invest in?

PHEQ leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, ONOF focuses on Technology, Finance and Healthcare.

What are the top holdings of the PHEQ ETF and ONOF ETF?

PHEQ top holdings include NVIDIA Corp., Apple, Inc. and Microsoft Corp.. ONOF holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..

Which ETF is more diversified: PHEQ or ONOF?

PHEQ holds 171 securities with 46.28% of its assets in the top 15. ONOF has 500 securities and a top 15 weight of 41.97%.

Parametric's Innovation Continues Under New Leadership from Morgan Stanley with Launch of PHEQ and PAPI

November 16, 2023

PHEQ

PHEQvsONOFETF Comparison

Parametric Hedged Equity ETF

Global X Adaptive U.S. Risk Management ETF

PHEQ vs ONOF performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the PHEQ and ONOF ETFs performed in 2026?

As of August 6, 2026, PHEQ is up 7.43% year-to-date (YTD), while ONOF has returned 9.48%. That puts ONOF better performer ahead so far this year.

Which ETF is attracting more investor money: PHEQ or ONOF?

Year-to-date, the PHEQ ETF saw -$6M in flows, compared to -$13M for ONOF.

Which ETF is more volatile: PHEQ or ONOF?

Over the past year, PHEQ had a volatility of 6.6%, while ONOF experienced 12.28%.

Which ETF is bigger: PHEQ or ONOF?

As of August 6, 2026, PHEQ holds $141.30 M in assets under management (AUM), while ONOF manages $141.83 M.

What sectors do the PHEQ and ONOF ETFs invest in?

PHEQ leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, ONOF focuses on Technology, Finance and Healthcare.

What are the top holdings of the PHEQ ETF and ONOF ETF?

PHEQ top holdings include NVIDIA Corp., Apple, Inc. and Microsoft Corp.. ONOF holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..

Which ETF is more diversified: PHEQ or ONOF?

PHEQ holds 171 securities with 46.28% of its assets in the top 15. ONOF has 500 securities and a top 15 weight of 41.97%.

Parametric's Innovation Continues Under New Leadership from Morgan Stanley with Launch of PHEQ and PAPI

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