ALAI vs PHEQ
Alger AI Enablers & Adopters ETF vs Parametric Hedged Equity ETF
Which is better, ALAI or PHEQ?
ALAI has been ahead.
PHEQ has a lower expense ratio. ALAI led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ALAI | PHEQ |
|---|---|---|
| Expense Ratio | 0.58% | 0.29%Best |
| AUM | $2.1B | $149M |
| Dividend Yield | 1.31% | 0.81% |
| Holdings | 146 | 375 |
| YTD Return | +12.15%Best | +8.61% |
| 1Y Return | +10.90%Best | +9.71% |
| 3Y Return (annualized) | - | +13.74% |
| Volatility (annualized) | 26.4% | 6.4%Best |
| Max Drawdown | -29.4% | -12.6%Best |
| $10,000 over 2.6 years | $20,716Best | $13,489 |
| Fund Family | Alger | Parametric |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 4, 2024 | Oct 16, 2023 |
Not shown on this pair: 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.6 years row, are measured over the window both funds cover: Apr 5, 2024 to Nov 11, 2026 (2.6 years).
ALAI vs PHEQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.6 years both funds cover.
ALAI vs PHEQ Performance
Alger AI Enablers & Adopters ETF (ALAI) is an ETF from Alger and Parametric Hedged Equity ETF (PHEQ) is an ETF from Parametric. Over the past year ALAI returned +10.90% while PHEQ returned +9.71%. Year to date, ALAI is up 12.15% versus a gain of 8.61% for PHEQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ALAI has been the more volatile fund, with annualized monthly volatility of 26.4% compared with 6.4% for PHEQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -29.4% for ALAI and -12.6% for PHEQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ALAI charges 0.58% per year while PHEQ charges 0.29%. On a $10,000 position that is $58 vs $29 annually, a gap of $29 per year that compounds over a long holding period. On income, ALAI currently yields 1.31% against 0.81% for PHEQ.
Holdings Overlap
At least 42.1% of PHEQ's money is in holdings ALAI also owns.
Stated as a floor: for ALAI, our book for it covers 95.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
21 positions in common, counted across the 58 positions we hold weights for in ALAI and 173 in PHEQ, against full books of 146 and 375.
Top Shared Holdings
| Stock | Weight in ALAI | Weight in PHEQ | Difference |
|---|---|---|---|
| NVDANvidia Corp | 13.17% | 7.97% | 5.20% |
| MSFTMicrosoft Corp | 8.15% | 6.20% | 1.95% |
| AAPLApple Inc | 1.76% | 7.67% | 5.91% |
| AMZNAmazon.Com Inc | 4.83% | 3.97% | 0.86% |
| METAMeta Platforms Inc | 5.14% | 2.42% | 2.72% |
| GOOGAlphabet Inc. C | 4.62% | 2.72% | 1.90% |
| AVGOBroadcom Inc | 3.72% | 2.58% | 1.14% |
| MUMicron Technology, Inc. | 2.42% | 1.67% | 0.75% |
| TSLATesla Inc | 1.65% | 1.78% | 0.13% |
| AMDAdvanced Micro Devices Inc | 2.23% | 1.12% | 1.11% |
42.1% of PHEQ is already inside ALAI.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ALAI or PHEQ?
ALAI has an expense ratio of 0.58% while PHEQ charges 0.29%. PHEQ is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, ALAI or PHEQ?
Over the past year ALAI returned +10.90% vs +9.71% for PHEQ, so ALAI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ALAI or PHEQ?
ALAI has been the more volatile fund at 26.4% annualized versus 6.4% for PHEQ. Worst drawdown: ALAI -29.4% vs PHEQ -12.6%.
Should I hold both ALAI and PHEQ?
ALAI and PHEQ have a monthly-return correlation of 0.84, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ALAI and PHEQ?
At least 42.1% of PHEQ's money is in holdings ALAI also owns. Our book for ALAI is partial, so the real figure is this or higher. They hold 21 positions in common, counted across the 58 positions we hold weights for in ALAI and 173 in PHEQ.
Which pays a higher dividend, ALAI or PHEQ?
ALAI yields 1.31% while PHEQ yields 0.81%, so ALAI currently pays the higher dividend yield.
Is PHEQ better than ALAI?
PHEQ has a lower expense ratio. ALAI led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.