PHDG vs SCHQ
PHDG vs SCHQ
Invesco S&P 500 Downside Hedged ETF vs Schwab Long-Term US Treasury ETF
Quick Verdict
SCHQ has a lower expense ratio. PHDG delivered stronger 1-year returns. PHDG offers more diversification with 494 holdings.
Side-by-Side Comparison
| Metric | PHDG | SCHQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.03% | |
| AUM | $61M | $806M | |
| Dividend Yield | 1.68% | 4.73% | |
| Holdings | 514 | 98 | |
| YTD Return | +13.02% | -2.55% | |
| 1Y Return | +18.49% | -1.03% | |
| 3Y Return (annualized) | +9.60% | -0.20% | |
| 5Y Return (annualized) | +4.75% | -6.80% | |
| Volatility (annualized) | 9.9% | 13.5% | |
| Max Drawdown | -23.6% | -46.7% | |
| Fund Family | Invesco (US) | Charles Schwab Asset Management | |
| Category | Equity | Fixed Income | |
| Inception | Dec 5, 2012 | Oct 10, 2019 |
PHDG vs SCHQ Performance
Invesco S&P 500 Downside Hedged ETF (PHDG) is a ETF from Invesco (US) and Schwab Long-Term US Treasury ETF (SCHQ) is a ETF from Charles Schwab Asset Management. Over the past year PHDG returned +18.49% while SCHQ returned -1.03%. Year to date, PHDG is up 13.02% versus a loss of 2.55% for SCHQ.
Over three years, PHDG compounded at +9.60% per year against -0.20% for SCHQ; over five years the annualized figures are +4.75% and -6.80% respectively. Across the full 7-year window we track, PHDG has the edge at +4.45% annualized vs -4.41%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHQ has been the more volatile fund, with annualized monthly volatility of 13.5% 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 -46.7% for SCHQ. 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 0.39. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PHDG charges 0.39% per year while SCHQ charges 0.03%. On a $10,000 position that is $39 vs $3 annually, a gap of $36 per year that compounds over a long holding period. On income, PHDG currently yields 1.68% against 4.73% for SCHQ.
Frequently Asked Questions
Which is cheaper, PHDG or SCHQ?
PHDG has an expense ratio of 0.39% while SCHQ charges 0.03%. SCHQ is the cheaper option. On a $10,000 investment, that is $36 per year of difference.
Which performed better, PHDG or SCHQ?
Over the past year PHDG returned +18.49% vs -1.03% for SCHQ, so PHDG leads on 1-year performance. Over the longest common window we track (7 years), PHDG annualized +4.45% vs -4.41% for SCHQ. Past performance does not guarantee future results.
Which is riskier, PHDG or SCHQ?
SCHQ has been the more volatile fund at 13.5% annualized versus 9.9% for PHDG. Worst drawdown: PHDG -23.6% vs SCHQ -46.7%.
Should I hold both PHDG and SCHQ?
PHDG and SCHQ have a monthly-return correlation of 0.39, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, PHDG or SCHQ?
PHDG yields 1.68% while SCHQ yields 4.73%, so SCHQ currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.