Key stats
About Parametric Hedged Equity ETF
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Inception date
Oct 16, 2023
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Morgan Stanley Investment Management, Inc.
Distributor
Foreside Fund Services LLC
ISIN
US61774R8741
PHEQ invests in an equity portfolio that aims to replicate the key fundamental attributes of a market-cap-weighted index of the 500 largest US companies. It utilizes an option overlay hedging strategy that seeks to mitigate losses while foregoing some upside potential. To pursue this strategy, the fund will purchase and sell put options and sell call options referencing the S&P 500 Index. This strategy aims to mitigate downside risk after the first 10% decline, down to 30%, over one year. PHEQ also holds options for multiple one-year periods staggered three months apart. This results in a total of four separate defined outcome periods per year, each covering approximately 25% of the funds equity exposure. Upon expiry, each option hedge structure will be rolled out to the same month-end in the next calendar year. Dividends received will be distributed every quarter. This fund may also incorporate tax loss harvesting within the long equity portfolio to maximize realization of losses.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Electronic Technology
Technology Services
Finance
Stocks102.98%
Electronic Technology23.98%
Technology Services23.02%
Finance14.52%
Retail Trade7.78%
Health Technology7.59%
Consumer Non-Durables3.30%
Utilities2.67%
Producer Manufacturing2.64%
Consumer Services2.59%
Consumer Durables2.57%
Energy Minerals2.34%
Industrial Services1.21%
Process Industries1.13%
Transportation1.02%
Health Services0.97%
Non-Energy Minerals0.69%
Communications0.62%
Distribution Services0.54%
Commercial Services0.40%
Bonds, Cash & Other−2.98%
Mutual fund0.29%
Cash0.16%
Rights & Warrants−3.44%
Stock breakdown by region
North America97.67%
Europe2.10%
Latin America0.23%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
PHEQ invests in stocks. The fund's major sectors are Electronic Technology, with 24.80% stocks, and Technology Services, with 23.81% of the basket. The assets are mostly located in the North America region.
PHEQ top holdings are NVIDIA Corporation and Microsoft Corporation, occupying 7.66% and 7.11% of the portfolio correspondingly.
PHEQ last dividends amounted to 0.08 USD. The quarter before, the issuer paid 0.08 USD in dividends, which shows a 9.60% increase.
PHEQ assets under management is 117.84 M USD. It's risen 10.10% over the last month.
PHEQ fund flows account for 65.10 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, PHEQ pays dividends to its holders with the dividend yield of 1.32%. The last dividend (Sep 26, 2025) amounted to 0.08 USD. The dividends are paid quarterly.
PHEQ shares are issued by Morgan Stanley under the brand Parametric. The ETF was launched on Oct 16, 2023, and its management style is Active.
PHEQ expense ratio is 0.29% meaning you'd have to pay 0.29% of your investment to help manage the fund.
PHEQ follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
PHEQ invests in stocks.
PHEQ price has risen by 0.39% over the last month, and its yearly performance shows a 10.91% increase. See more dynamics on PHEQ price chart.
NAV returns, another gauge of an ETF dynamics, have risen by 0.54% over the last month, showed a 4.11% increase in three-month performance and has increased by 12.43% in a year.
NAV returns, another gauge of an ETF dynamics, have risen by 0.54% over the last month, showed a 4.11% increase in three-month performance and has increased by 12.43% in a year.
PHEQ trades at a premium (0.08%) meaning the ETF is trading at a higher price than the calculated NAV.