PHDG vs SAWS
Invesco S&P 500 Downside Hedged ETF vs AAM Sawgrass US Small Cap Quality Growth ETF
Quick Verdict
PHDG has a lower expense ratio. SAWS delivered stronger 1-year returns. PHDG offers more diversification with 494 holdings.
Side-by-Side Comparison
| Metric | PHDG | SAWS | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.55% | |
| AUM | $61M | $8M | |
| Dividend Yield | 1.68% | 0.02% | |
| Holdings | 514 | 72 | |
| YTD Return | +12.90% | +15.39% | |
| 1Y Return | +17.89% | +22.34% | |
| 3Y Return (annualized) | +9.78% | - | |
| 5Y Return (annualized) | +4.72% | - | |
| Volatility (annualized) | 9.9% | 18.4% | |
| Max Drawdown | -23.6% | -22.0% | |
| Fund Family | Invesco (US) | Advisors Asset Management, Inc. | |
| Category | Equity | Equity | |
| Inception | Dec 5, 2012 | Jul 30, 2024 |
PHDG vs SAWS Performance
Invesco S&P 500 Downside Hedged ETF (PHDG) is a ETF from Invesco (US) and AAM Sawgrass US Small Cap Quality Growth ETF (SAWS) is a ETF from Advisors Asset Management, Inc.. Over the past year PHDG returned +17.89% while SAWS returned +22.34%. Year to date, PHDG is up 12.90% versus a gain of 15.39% for SAWS.
Risk: Volatility and Drawdowns
SAWS has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 9.9% for PHDG. 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 -23.6% for PHDG and -22.0% for SAWS. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.30. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PHDG charges 0.39% per year while SAWS charges 0.55%. On a $10,000 position that is $39 vs $55 annually, a gap of $16 per year that compounds over a long holding period. On income, PHDG currently yields 1.68% against 0.02% for SAWS.
Holdings Overlap
PHDG and SAWS share 0 holdings out of 565 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, PHDG or SAWS?
PHDG has an expense ratio of 0.39% while SAWS charges 0.55%. PHDG is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, PHDG or SAWS?
Over the past year PHDG returned +17.89% vs +22.34% for SAWS, so SAWS leads on 1-year performance. Over the longest common window we track (2 years), PHDG annualized +4.44% vs +13.13% for SAWS. Past performance does not guarantee future results.
Which is riskier, PHDG or SAWS?
SAWS has been the more volatile fund at 18.4% annualized versus 9.9% for PHDG. Worst drawdown: PHDG -23.6% vs SAWS -22.0%.
Should I hold both PHDG and SAWS?
PHDG and SAWS have a monthly-return correlation of 0.30, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PHDG and SAWS?
PHDG and SAWS share 0 common holdings with a 0.0% weight overlap. Combined, they hold 565 unique securities.
Which pays a higher dividend, PHDG or SAWS?
PHDG yields 1.68% while SAWS yields 0.02%, so PHDG currently pays the higher dividend yield.
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