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PHEQvsTENMETF Comparison

ETF 1

PHEQ

Parametric Hedged Equity ETF

This fund is part of

Options Strategies

+0.27%

Full PHEQ fund page

VS

ETF 2

TENM

iShares Large Cap 10% Target Buffer Mar ETF

This fund is part of

Options Strategies

+0.27%

Full TENM fund page

Parametric Hedged Equity ETF (PHEQ) and iShares Large Cap 10% Target Buffer Mar ETF (TENM) belong to the same industry segment: Options Strategies. PHEQ's top 3 sector exposures are Technology, Finance and Consumer Non-Cyclicals. In contrast, TENM's top sector exposures are Technology, Finance and Healthcare. PHEQ is less expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.53% for TENM. PHEQ is up 8.82% year-to-date (YTD) with +$3M in YTD flows. TENM performs better with 9.04% YTD performance, and -$139M in YTD flows. Run a side-by-side ETF comparison of PHEQ and TENM 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 TENM 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 09/18/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	PHEQ TENM	+0.88%+0.62%	+2.93%+2.86%	+8.82%+9.04%	+11.54%n/a	n/an/a	n/an/a
Flows	PHEQ TENM	+$4M-	+$12M-$2M	+$3M-$139M	+$35M-	--	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PHEQ TENM	+5.36%+4.80%	+6.67%n/a	n/an/a	n/an/a
Max drawdown	PHEQ TENM	-1.73%-1.16%	-3.96%n/a	n/an/a	n/an/a
Max drawdown duration	PHEQ TENM	19d15d	86dn/a	n/an/a	n/an/a

Trading data

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	PHEQ	TENM
Last sale 9/18/2026 at 1:30 PM	$35.39	$27.69
Previous close 09/17/2026	$35.34	$27.67
Consolidated volume 09/17/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Main metrics

Last update 9/18/2026 at 1:30 PM

Live

Closed

	PHEQ	TENM
Last price	$35.39	$27.69
1D performance	+0.14%	+0.07%
AuM	$151.96 M	$46.54 M
E/R	0.29%	0.53%

Characteristics

	PHEQ	TENM
Management strategy	Active	Active
Provider	Morgan Stanley	iShares
Benchmark	-	-
N° of holdings	169	501
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	October 19, 2023	October 21, 2025
ESG	No	No

More PHEQ data on Trackinsight

More TENM data on Trackinsight

Exposure

Countries

PHEQ

USA

100.61%

Other

-0.61%

TENM

USA

100.9%

Other

-0.9%

Sectors

PHEQ

Technology

45.18%

Finance

14.44%

Consumer Non-Cycl.

10.18%

Healthcare

9.19%

Industrials

7.28%

Other

13.74%

TENM

Technology

45.93%

Finance

14.38%

Healthcare

9.22%

Consumer Non-Cycl.

9.17%

Industrials

8.04%

Other

13.26%

Diversification

PHEQ

Total weight of top 15 holdings out of 15

47.46%

TENM

Total weight of top 15 holdings out of 15

44.73%

Top 15 holdings

Data as of July 31, 2026

PHEQ

NVIDIA Corp.

7.65%

Apple, Inc.

7.46%

Microsoft Corp.

5.54%

Amazon.com, Inc.

4.39%

Alphabet, Inc.

3.43%

Broadcom Inc.

3.03%

Alphabet, Inc.

3.00%

Meta Platforms, Inc.

1.95%

JPMorgan Chase & Co.

1.83%

Eli Lilly & Co.

1.79%

Tesla, Inc.

1.60%

Micron Technology, Inc.

1.53%

Johnson & Johnson

1.45%

ExxonMobil Holdings Corp.

1.44%

Berkshire Hathaway, Inc.

1.37%

TENM

Apple, Inc.

7.85%

NVIDIA Corp.

7.57%

Microsoft Corp.

5.37%

Amazon.com, Inc.

3.69%

Alphabet, Inc.

3.13%

Broadcom Inc.

2.94%

Alphabet, Inc.

2.53%

Meta Platforms, Inc.

1.90%

Micron Technology, Inc.

1.58%

JPMorgan Chase & Co.

1.51%

Berkshire Hathaway, Inc.

1.50%

Eli Lilly & Co.

1.46%

Tesla, Inc.

1.39%

Advanced Micro Devices, Inc.

1.27%

ExxonMobil Holdings Corp.

1.04%

Frequently asked questions about PHEQ and TENM

How have the PHEQ and TENM ETFs performed in 2026?

As of September 18, 2026, PHEQ is up 8.82% year-to-date (YTD), while TENM has returned 9.04%. That puts TENM better performer ahead so far this year.

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

Year-to-date, the PHEQ ETF saw +$3M in flows, compared to -$139M for TENM.

Which ETF is bigger: PHEQ or TENM?

As of September 18, 2026, PHEQ holds $151.96 M in assets under management (AUM), while TENM manages $46.54 M.

What sectors do the PHEQ and TENM ETFs invest in?

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

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

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

Which ETF is more diversified: PHEQ or TENM?

PHEQ holds 171 securities with 47.46% of its assets in the top 15. TENM has 504 securities and a top 15 weight of 44.73%.

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

November 16, 2023

PHEQ

PHEQvsTENMETF Comparison

Parametric Hedged Equity ETF

iShares Large Cap 10% Target Buffer Mar ETF

PHEQ vs TENM 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 TENM ETFs performed in 2026?

As of September 18, 2026, PHEQ is up 8.82% year-to-date (YTD), while TENM has returned 9.04%. That puts TENM better performer ahead so far this year.

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

Year-to-date, the PHEQ ETF saw +$3M in flows, compared to -$139M for TENM.

Which ETF is bigger: PHEQ or TENM?

As of September 18, 2026, PHEQ holds $151.96 M in assets under management (AUM), while TENM manages $46.54 M.

What sectors do the PHEQ and TENM ETFs invest in?

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

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

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

Which ETF is more diversified: PHEQ or TENM?

PHEQ holds 171 securities with 47.46% of its assets in the top 15. TENM has 504 securities and a top 15 weight of 44.73%.

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

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