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MSSM vs PHEQ
Morgan Stanley Pathway Small-Mid Cap Equity ETF vs Parametric Hedged Equity ETF
Key differences
MSSM is an equity ETF, while PHEQ is an alternative ETF. MSSM charges 0.62% a year and PHEQ 0.29%.
- MSSM is an equity fund, while PHEQ is an alternative fund. They carry different risk/return profiles.
- MSSM follows a index tracking strategy; PHEQ uses option income.
- MSSM covers global markets; PHEQ covers North America.
- PHEQ costs 0.33% less per year.
- MSSM is much larger than PHEQ. Larger funds are usually more liquid and less likely to close.
- MSSM has a longer track record, which may reduce uncertainty around long-term behavior.
Side-by-side comparison
| MSSM | PHEQ | |
|---|---|---|
| Annual cost (TER) | 0.62% | 0.29% |
| Fund size (AUM) | $756M | $138M |
| Since | 1991 | 2023 |
| Dividend yield | 0.53% | 1.03% |
| Asset class | equity | alternative |
| Region | global | north america |
| Strategy | index tracking | option income |
| CAGR 1Y | +32.8% | +15.5% |
| CAGR 3Y | N/A | N/A |
| CAGR 5Y | N/A | N/A |
| Sharpe 3Y | N/A | N/A |
| Volatility 1Y | 17.51% | 6.19% |
| Max drawdown | -24.09% | -12.55% |
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