QEWvsPHEQETF Comparison
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Invesco QQQ Equal Weight ETF (QEW) belongs to the US Large Cap segment. Parametric Hedged Equity ETF (PHEQ) is part of the Options Strategies segment. QEW's top 3 sector exposures are Technology, Consumer Non-Cyclicals and Healthcare. In contrast, PHEQ's top sector exposures are Technology, Finance and Consumer Non-Cyclicals. QEW is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.29% for PHEQ. Run a side-by-side ETF comparison of QEW and PHEQ 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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QEW vs PHEQ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | QEW PHEQ | -5.80%+0.14% | -4.69%+2.29% | n/a+8.26% | n/a+11.11% | n/an/a | n/an/a |
| Flows | QEW PHEQ | +$14K+$12K | -$136K+$7M | --$858K | -+$31M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | QEW PHEQ | +15.49%+5.57% | n/a+6.63% | n/an/a | n/an/a |
| Max drawdown | QEW PHEQ | -6.36%-1.73% | n/a-3.96% | n/an/a | n/an/a |
| Max drawdown duration | QEW PHEQ | 33d19d | n/a86d | n/an/a | n/an/a |
Trading data
QEW | PHEQ | |
Last sale 9/15/2026 at 1:30 PM | $29.00 | $35.18 |
| Previous close 09/15/2026 | $29.27 | $35.23 |
| Consolidated volume 09/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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PHEQ
is actively managed and doesn’t replicate an indexQEW | PHEQ | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/15/2026 at 1:30 PM
Live
Closed
QEW | PHEQ | |
|---|---|---|
| Last price | $29.00 | $35.18 |
| 1D performance | -0.92% | -0.11% |
| AuM | $20.25 M | $147.67 M |
| E/R | 0.25% | 0.29% |
Characteristics
QEW | PHEQ | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Invesco | Morgan Stanley |
| Benchmark | NASDAQ-100 Equal Weighted Index | - |
| N° of holdings | 102 | 169 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 18, 2026 | October 19, 2023 |
| ESG | No | No |
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Exposure
Countries
QEW
USA
88.12%
Other
11.88%
PHEQ
USA
100.61%
Other
-0.61%
Sectors
QEW
Technology
43.22%
Consumer Non-Cycl.
13.09%
Healthcare
9.63%
Industrials
8.13%
Other
25.94%
PHEQ
Technology
45.18%
Finance
14.44%
Consumer Non-Cycl.
10.18%
Healthcare
9.19%
Industrials
7.28%
Other
13.74%
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Diversification
QEW
Total weight of top 15 holdings out of 15
18.8%
PHEQ
Total weight of top 15 holdings out of 15
47.46%
Top 15 holdings
Data as of July 31, 2026
QEW
PayPal Holdings, Inc.
1.35%
Cintas Corp.
1.31%
Paychex, Inc.
1.30%
Roper Technologies, Inc.
1.30%
Automatic Data Processing, Inc.
1.27%
Thomson Reuters Corp.
1.27%
Coca-Cola Europacific Partners plc
1.27%
DoorDash, Inc.
1.26%
PACCAR, Inc.
1.25%
Booking Holdings, Inc.
1.24%
Axon Enterprise, Inc.
1.22%
GE Healthcare Technologies, Inc.
1.19%
Amgen, Inc.
1.19%
The Kraft Heinz Co.
1.19%
Workday, Inc.
1.19%
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%
Frequently asked questions about QEW and PHEQ
Which ETF is bigger: QEW or PHEQ?
As of September 15, 2026, QEW holds $20.25 M in assets under management (AUM), while PHEQ manages $147.67 M.
What sectors do the QEW and PHEQ ETFs invest in?
QEW leans toward sectors like Technology, Consumer Non-Cyclicals and Healthcare. Meanwhile, PHEQ focuses on Technology, Finance and Consumer Non-Cyclicals.
What are the top holdings of the QEW ETF and PHEQ ETF?
QEW top holdings include PayPal Holdings, Inc., Cintas Corp. and Paychex, Inc.. PHEQ holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..
Which ETF is more diversified: QEW or PHEQ?
QEW holds 103 securities with 18.8% of its assets in the top 15. PHEQ has 171 securities and a top 15 weight of 47.46%.
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