EQTY vs PHEQ
Kovitz Core Equity ETF vs Parametric Hedged Equity ETF
Which is better, EQTY or PHEQ?
EQTY has been ahead.
PHEQ has a lower expense ratio. EQTY led over 1Y, 3Y and the full window. PHEQ is less concentrated, with 40.4% of the fund in its ten largest positions against 42.9%.
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 | EQTY | PHEQ |
|---|---|---|
| Expense Ratio | 0.99% | 0.29%Best |
| AUM | $1.4B | $149M |
| Dividend Yield | 0.02% | 0.81% |
| Holdings | 77 | 375 |
| YTD Return | +12.60%Best | +8.61% |
| 1Y Return | +16.37%Best | +9.71% |
| 3Y Return (annualized) | +19.06%Best | +13.74% |
| Volatility (annualized) | 12.0% | 6.7%Best |
| Max Drawdown | -17.3% | -12.6%Best |
| $10,000 over 3.1 years | $17,179Best | $15,084 |
| Top 10 Weight | 42.9% | 40.4%Best |
| Fund Family | Kovitz Investment Group | Parametric |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 28, 2011 | Oct 16, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 3.1 years row, are measured over the window both funds cover: Oct 19, 2023 to Nov 11, 2026 (3.1 years).
EQTY 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 3.1 years both funds cover.
EQTY vs PHEQ Performance
Kovitz Core Equity ETF (EQTY) is an ETF from Kovitz Investment Group and Parametric Hedged Equity ETF (PHEQ) is an ETF from Parametric. Over the past year EQTY returned +16.37% while PHEQ returned +9.71%. Year to date, EQTY is up 12.60% versus a gain of 8.61% for PHEQ.
Over three years, EQTY compounded at +19.06% per year against +13.74% for PHEQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EQTY has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 6.7% 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 -17.3% for EQTY 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EQTY charges 0.99% per year while PHEQ charges 0.29%. On a $10,000 position that is $99 vs $29 annually, a gap of $70 per year that compounds over a long holding period. On income, EQTY currently yields 0.02% against 0.81% for PHEQ.
Holdings Overlap
36.9% of EQTY's money is in holdings PHEQ also owns. 32.3% of PHEQ's money is in holdings EQTY also owns.
The two portfolios partly overlap.
14 positions in common, counted across the 37 positions we hold weights for in EQTY and 173 in PHEQ, against full books of 77 and 375.
What only one of them owns
Our book lists 150 positions for PHEQ that do not appear in our book for EQTY (69.3% of the fund), and 22 for EQTY that do not appear in PHEQ (56.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in EQTY | Weight in PHEQ | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 5.24% | 6.20% | 0.96% |
| AAPLApple Inc | 1.72% | 7.67% | 5.95% |
| AMZNAmazon.Com Inc | 3.14% | 3.97% | 0.83% |
| GOOGAlphabet Inc. C | 3.96% | 2.72% | 1.24% |
| VVisa Inc Class A | 4.89% | 1.27% | 3.62% |
| METAMeta Platforms Inc | 3.22% | 2.42% | 0.80% |
| PMPhilip Morris International Inc. | 4.17% | 0.60% | 3.57% |
| GOOGLAlphabet Inc | 0.84% | 3.23% | 2.39% |
| NFLXNetflix Inc | 2.59% | 0.47% | 2.12% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.57% | 1.36% | 0.21% |
36.9% of EQTY is already inside PHEQ.
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, EQTY or PHEQ?
EQTY has an expense ratio of 0.99% while PHEQ charges 0.29%. PHEQ is the cheaper option, by $70 a year on a $10,000 investment.
Which performed better, EQTY or PHEQ?
Over the past year EQTY returned +16.37% vs +9.71% for PHEQ, so EQTY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EQTY or PHEQ?
EQTY has been the more volatile fund at 12.0% annualized versus 6.7% for PHEQ. Worst drawdown: EQTY -17.3% vs PHEQ -12.6%.
Should I hold both EQTY and PHEQ?
EQTY and PHEQ have a monthly-return correlation of 0.79, 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 EQTY and PHEQ?
36.9% of EQTY's money is in holdings PHEQ also owns. 32.3% of PHEQ's is in holdings EQTY also owns. They hold 14 positions in common, counted across the 37 positions we hold weights for in EQTY and 173 in PHEQ.
Which pays a higher dividend, EQTY or PHEQ?
EQTY yields 0.02% while PHEQ yields 0.81%, so PHEQ currently pays the higher dividend yield.
Is PHEQ better than EQTY?
PHEQ has a lower expense ratio. EQTY led over 1Y, 3Y and the full window. PHEQ is less concentrated, with 40.4% of the fund in its ten largest positions against 42.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.