PHEQvsPEPSETF Comparison
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Parametric Hedged Equity ETF (PHEQ) and Parametric Equity Plus ETF (PEPS) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Information Technology, Communication Services and Consumer Discretionary. Both PHEQ and PEPS have the same Total Expense Ratio (TER) of 0.29%. PHEQ is up 3.23% year-to-date (YTD) with -$11M in YTD flows. PEPS performs worse with 2.63% YTD performance, and - in YTD flows. Run a side-by-side ETF comparison of PHEQ and PEPS 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 PEPS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/22/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PHEQ PEPS | +5.24%+6.44% | +2.94%+1.38% | +3.23%+2.63% | +23.21%+37.67% | n/an/a | n/an/a |
| Flows | PHEQ PEPS | +$3M- | -$11M- | -$11M- | +$22M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PHEQ PEPS | +8.32%+16.39% | +7.31%+13.44% | n/an/a | n/an/a |
| Max drawdown | PHEQ PEPS | -3.79%-9.84% | -3.96%-9.84% | n/an/a | n/an/a |
| Max drawdown duration | PHEQ PEPS | 71d79d | 86d79d | n/an/a | n/an/a |
Trading data
PHEQ | PEPS | |
Last sale 4/24/2026 at 1:30 PM | $33.71 | $30.21 |
| Previous close 04/23/2026 | $33.48 | $29.98 |
| Consolidated volume 04/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 4/24/2026 at 1:30 PM
Live
Closed
PHEQ | PEPS | |
|---|---|---|
| Last price | $33.71 | $30.21 |
| 1D performance | +0.69% | +0.77% |
| AuM | $130.92 M | $25.55 M |
| E/R | 0.29% | 0.29% |
Characteristics
PHEQ | PEPS | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Morgan Stanley | Morgan Stanley |
| Benchmark | - | - |
| N° of holdings | 173 | 174 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 19, 2023 | November 7, 2024 |
| ESG | No | No |
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Exposure
Countries
PHEQ
USA
93.2%
Other
6.8%
PEPS
USA
91.64%
Other
8.36%
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%
PEPS
Information Techn.
32.33%
Communication Ser.
10.58%
Consumer Discreti.
9.43%
Health Care
9.41%
Financials
9.35%
Other
28.9%
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Diversification
PHEQ
Total weight of top 15 holdings out of 15
43.64%
PEPS
Total weight of top 15 holdings out of 15
42.48%
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%
PEPS
NVIDIA
6.74%
APPLE
6.41%
MICROSOFT-T
4.79%
AMAZON.COM INC
3.60%
ALPHABET INC-CL
2.89%
BROADCOM LIMITED
2.65%
ALPHABET INC-CL
2.59%
META PLATFORMS
2.27%
TESLA
1.88%
JPMORGAN CHASE
1.66%
EXXON
1.62%
LILLY
1.58%
BERKSHIRE HATHWAY
1.37%
JOHNSON&JOHNSON
1.33%
VISA INCORPORATION
1.10%
Frequently asked questions about PHEQ and PEPS
How have the PHEQ and PEPS ETFs performed in 2026?
As of April 22, 2026, PHEQ is up 3.23% year-to-date (YTD), while PEPS has returned 2.63%. That puts PHEQ better performer ahead so far this year.
Which ETF is attracting more investor money: PHEQ or PEPS?
Year-to-date, the PHEQ ETF saw -$11M in flows, compared to - for PEPS.
Which ETF is more volatile: PHEQ or PEPS?
Over the past year, PHEQ had a volatility of 7.31%, while PEPS experienced 13.44%.
Which ETF is bigger: PHEQ or PEPS?
As of April 22, 2026, PHEQ holds $130.92 M in assets under management (AUM), while PEPS manages $25.55 M.
What sectors do the PHEQ and PEPS ETFs invest in?
PHEQ leans toward sectors like Information Technology, Communication Services and Consumer Discretionary. Meanwhile, PEPS focuses on Information Technology, Communication Services and Consumer Discretionary.
What are the top holdings of the PHEQ ETF and PEPS ETF?
PHEQ top holdings include NVIDIA, APPLE and MICROSOFT-T. PEPS holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: PHEQ or PEPS?
PHEQ holds 182 securities with 43.64% of its assets in the top 15. PEPS has 184 securities and a top 15 weight of 42.48%.
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