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PHEQ vs MSSM
Parametric Hedged Equity ETF vs Morgan Stanley Pathway Small-Mid Cap Equity ETF
Key differences
PHEQ is an alternative ETF, while MSSM is an equity ETF. PHEQ charges 0.29% a year and MSSM 0.62%.
- PHEQ is an alternative fund, while MSSM is an equity fund. They carry different risk/return profiles.
- PHEQ follows a option income strategy; MSSM uses index tracking.
- PHEQ covers North America; MSSM covers global markets.
- 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
| PHEQ | MSSM | |
|---|---|---|
| Annual cost (TER) | 0.29% | 0.62% |
| Fund size (AUM) | $138M | $756M |
| Since | 2023 | 1991 |
| Dividend yield | 1.03% | 0.53% |
| Asset class | alternative | equity |
| Region | north america | global |
| Strategy | option income | index tracking |
| CAGR 1Y | +15.5% | +32.8% |
| CAGR 3Y | N/A | N/A |
| CAGR 5Y | N/A | N/A |
| Sharpe 3Y | N/A | N/A |
| Volatility 1Y | 6.19% | 17.51% |
| Max drawdown | -12.55% | -24.09% |
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