TSPYvsHEGDETF Comparison
VS
TappAlpha SPY Growth & Daily Income ETF (TSPY) and Swan Hedged Equity US Large Cap ETF (HEGD) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Information Technology, Financials and Communication Services. TSPY is less expensive with a Total Expense Ratio (TER) of 0.77%, versus 0.87% for HEGD. TSPY is up 3.09% year-to-date (YTD) with +$93M in YTD flows. HEGD performs worse with 2.56% YTD performance, and +$42M in YTD flows. Run a side-by-side ETF comparison of TSPY and HEGD 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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TSPY vs HEGD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TSPY HEGD | +11.34%+5.90% | +0.88%+1.33% | +3.09%+2.56% | +30.77%+17.97% | n/a+47.17% | n/a+47.37% |
| Flows | TSPY HEGD | -$3M+$29M | +$47M+$31M | +$93M+$42M | +$234M+$200M | -+$420M | -+$512M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TSPY HEGD | +15.02%+7.42% | +12.40%+7.03% | n/a+8.11% | n/a+9.17% |
| Max drawdown | TSPY HEGD | -9.44%-4.32% | -9.44%-4.33% | n/a-8.39% | n/a-14.21% |
| Max drawdown duration | TSPY HEGD | 73d76d | 73d77d | n/a124d | n/a721d |
Trading data
TSPY | HEGD | |
Last sale 4/28/2026 at 1:30 PM | $25.07 | $25.90 |
| Previous close 04/28/2026 | $25.13 | $26.00 |
| Consolidated volume 04/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 4/28/2026 at 1:30 PM
Live
Closed
TSPY | HEGD | |
|---|---|---|
| Last price | $25.07 | $25.90 |
| 1D performance | -0.24% | -0.38% |
| AuM | $259.25 M | $659.39 M |
| E/R | 0.77% | 0.87% |
Characteristics
TSPY | HEGD | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | TappAlpha | Swan Capital Management |
| Benchmark | - | - |
| N° of holdings | 478 | 478 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 14, 2024 | December 23, 2020 |
| ESG | No | No |
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Exposure
Countries
TSPY
USA
97.6%
Other
2.4%
HEGD
USA
82.45%
Other
17.55%
Sectors
TSPY
Information Techn.
34.16%
Financials
10.46%
Communication Ser.
10.3%
Consumer Discreti.
10.08%
Health Care
9.39%
Industrials
8.38%
Other
17.23%
HEGD
Information Techn.
28.86%
Financials
8.83%
Communication Ser.
8.7%
Consumer Discreti.
8.52%
Health Care
7.93%
Industrials
7.08%
Other
30.08%
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Diversification
TSPY
Total weight of top 15 holdings out of 15
42.79%
HEGD
Total weight of top 15 holdings out of 15
36.14%
Top 15 holdings
Data as of March 31, 2026
TSPY
NVIDIA
7.63%
APPLE
6.71%
MICROSOFT-T
4.95%
AMAZON.COM INC
3.66%
ALPHABET INC-CL
3.01%
BROADCOM LIMITED
2.64%
ALPHABET INC-CL
2.41%
META PLATFORMS
2.25%
TESLA
1.88%
BERKSHIRE HATHWAY
1.58%
JPMORGAN CHASE
1.43%
LILLY
1.31%
EXXON
1.28%
JOHNSON&JOHNSON
1.06%
WALMART INC
0.98%
HEGD
NVIDIA
6.44%
APPLE
5.67%
MICROSOFT-T
4.18%
AMAZON.COM INC
3.09%
ALPHABET INC-CL
2.55%
BROADCOM LIMITED
2.23%
ALPHABET INC-CL
2.04%
META PLATFORMS
1.90%
TESLA
1.59%
BERKSHIRE HATHWAY
1.34%
JPMORGAN CHASE
1.21%
LILLY
1.11%
EXXON
1.08%
JOHNSON&JOHNSON
0.90%
WALMART INC
0.83%
Frequently asked questions about TSPY and HEGD
How have the TSPY and HEGD ETFs performed in 2026?
As of April 28, 2026, TSPY is up 3.09% year-to-date (YTD), while HEGD has returned 2.56%. That puts TSPY better performer ahead so far this year.
Which ETF is attracting more investor money: TSPY or HEGD?
Year-to-date, the TSPY ETF saw +$93M in flows, compared to +$42M for HEGD.
Which ETF is more volatile: TSPY or HEGD?
Over the past year, TSPY had a volatility of 12.4%, while HEGD experienced 7.03%.
Which ETF is bigger: TSPY or HEGD?
As of April 28, 2026, TSPY holds $259.25 M in assets under management (AUM), while HEGD manages $659.39 M.
What sectors do the TSPY and HEGD ETFs invest in?
TSPY leans toward sectors like Information Technology, Financials and Communication Services. Meanwhile, HEGD focuses on Information Technology, Financials and Communication Services.
What are the top holdings of the TSPY ETF and HEGD ETF?
TSPY top holdings include NVIDIA, APPLE and MICROSOFT-T. HEGD holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: TSPY or HEGD?
TSPY holds 502 securities with 42.79% of its assets in the top 15. HEGD has 502 securities and a top 15 weight of 36.14%.
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