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AMAX vs FHEQ

Adaptive Hedged Multi-Asset Income ETF vs Fidelity Hedged Equity ETF

AMAX

Adaptive Hedged Multi-Asset Income ETF

Adaptive ETF

Annual cost

1.36%

Fund size

$60M

FHEQ

Fidelity Hedged Equity ETF

Fidelity Investments

Annual cost

0.48%

Fund size

$829M

Key differences

  • FHEQ costs 0.88% less per year.
  • FHEQ is significantly larger than AMAX — larger funds tend to be more liquid and less likely to close.
  • AMAX follows a option income strategy; FHEQ uses tactical allocation.
  • AMAX has a longer track record, which may reduce uncertainty around long-term behavior.

Side-by-side comparison

AMAXFHEQ
Annual cost (TER)1.36%0.48%
Fund size (AUM)$60M$829M
Since20092024
Dividend yield10.63%0.61%
Asset classalternativealternative
Region
Strategyoption incometactical allocation
CAGR 1Y+11.8%+21.3%
CAGR 3Y+9.4%N/A
CAGR 5YN/AN/A
Sharpe 3Y0.59N/A
Volatility 1Y9.98%9.52%
Max drawdown-16.25%-11.12%

Green dot indicates the better value for that metric. Performance data is historical and does not predict future results.

Similar to AMAX and FHEQ