PHDG vs TLTP
Invesco S&P 500 Downside Hedged ETF vs Amplify TLT US Treasury 12% Option Income ETF
Quick Verdict
PHDG delivered stronger 1-year returns. PHDG offers more diversification with 494 holdings.
Side-by-Side Comparison
| Metric | PHDG | TLTP | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.39% | |
| AUM | $61M | $23M | |
| Dividend Yield | 1.68% | 14.33% | |
| Holdings | 514 | 5 | |
| YTD Return | +13.13% | -8.50% | |
| 1Y Return | +16.59% | -7.39% | |
| 3Y Return (annualized) | +9.80% | - | |
| 5Y Return (annualized) | +4.73% | - | |
| Volatility (annualized) | 9.9% | 8.7% | |
| Max Drawdown | -23.6% | -12.7% | |
| Fund Family | Invesco (US) | Amplify ETFs | |
| Category | Equity | Alternative | |
| Inception | Dec 5, 2012 | Oct 29, 2024 |
PHDG vs TLTP Performance
Invesco S&P 500 Downside Hedged ETF (PHDG) is a ETF from Invesco (US) and Amplify TLT US Treasury 12% Option Income ETF (TLTP) is a ETF from Amplify ETFs. Over the past year PHDG returned +16.59% while TLTP returned -7.39%. Year to date, PHDG is up 13.13% versus a loss of 8.50% for TLTP.
Risk: Volatility and Drawdowns
PHDG has been the more volatile fund, with annualized monthly volatility of 9.9% compared with 8.7% for TLTP. 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 -12.7% for TLTP. 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 0.25. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
PHDG charges 0.39% per year while TLTP charges 0.39%. On a $10,000 position that is $39 vs $39 annually. On income, PHDG currently yields 1.68% against 14.33% for TLTP.
Holdings Overlap
PHDG and TLTP share 0 holdings out of 497 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 TLTP?
PHDG has an expense ratio of 0.39% while TLTP charges 0.39%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, PHDG or TLTP?
Over the past year PHDG returned +16.59% vs -7.39% for TLTP, so PHDG leads on 1-year performance. Over the longest common window we track (2 years), PHDG annualized +4.45% vs -4.85% for TLTP. Past performance does not guarantee future results.
Which is riskier, PHDG or TLTP?
PHDG has been the more volatile fund at 9.9% annualized versus 8.7% for TLTP. Worst drawdown: PHDG -23.6% vs TLTP -12.7%.
Should I hold both PHDG and TLTP?
PHDG and TLTP have a monthly-return correlation of 0.25, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PHDG and TLTP?
PHDG and TLTP share 0 common holdings with a 0.0% weight overlap. Combined, they hold 497 unique securities.
Which pays a higher dividend, PHDG or TLTP?
PHDG yields 1.68% while TLTP yields 14.33%, so TLTP 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.