CGCV vs PHEQ
Capital Group Conservative Equity ETF vs Parametric Hedged Equity ETF
Which is better, CGCV or PHEQ?
Each has led over a different period.
PHEQ has a lower expense ratio. CGCV led over the full window, PHEQ over 1Y. CGCV is less concentrated, with 33.0% of the fund in its ten largest positions against 40.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CGCV | PHEQ |
|---|---|---|
| Expense Ratio | 0.33% | 0.29%Best |
| AUM | $2.1B | $152M |
| Dividend Yield | 1.59% | 0.82% |
| Holdings | 146 | 374 |
| YTD Return | +8.70% | +9.39%Best |
| 1Y Return | +11.37% | +12.67%Best |
| 3Y Return (annualized) | - | +14.84% |
| Volatility (annualized) | 9.9% | 6.6%Best |
| Max Drawdown | -13.1% | -12.6%Best |
| $10,000 over 2.3 years | $13,706Best | $13,149 |
| Top 10 Weight | 33.0%Best | 40.8% |
| Fund Family | Capital Group (US) | Parametric |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 25, 2024 | Oct 16, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Jun 27, 2024 to Oct 14, 2026 (2.3 years).
CGCV vs PHEQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.3 years both funds cover.
CGCV vs PHEQ Performance
Capital Group Conservative Equity ETF (CGCV) is an ETF from Capital Group (US) and Parametric Hedged Equity ETF (PHEQ) is an ETF from Parametric. Over the past year CGCV returned +11.37% while PHEQ returned +12.67%. Year to date, CGCV is up 8.70% versus a gain of 9.39% for PHEQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CGCV has been the more volatile fund, with annualized monthly volatility of 9.9% compared with 6.6% for PHEQ. 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 -13.1% for CGCV and -12.6% for PHEQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CGCV charges 0.33% per year while PHEQ charges 0.29%. On a $10,000 position that is $33 vs $29 annually, a gap of $4 per year that compounds over a long holding period. On income, CGCV currently yields 1.59% against 0.82% for PHEQ.
Holdings Overlap
57.6% of CGCV's money is in holdings PHEQ also owns. 50.0% of PHEQ's money is in holdings CGCV also owns.
The two portfolios partly overlap.
32 positions in common, counted across the 73 positions we hold weights for in CGCV and 174 in PHEQ, against full books of 146 and 374.
What only one of them owns
Our book lists 133 positions for PHEQ that do not appear in our book for CGCV (51.8% of the fund), and 37 for CGCV that do not appear in PHEQ (37.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CGCV | Weight in PHEQ | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 6.20% | 5.98% | 0.22% |
| NVDANvidia Corp | 2.16% | 8.63% | 6.47% |
| AAPLApple, Inc | 3.07% | 7.52% | 4.45% |
| AVGOBroadcom Inc | 4.04% | 2.68% | 1.36% |
| METAMeta Platforms Inc | 2.72% | 2.40% | 0.32% |
| GOOGLAlphabet Inc | 1.91% | 3.20% | 1.29% |
| LLYEli Lilly & Co. | 3.00% | 1.71% | 1.29% |
| CSCOCisco Systems Inc. - Ordinary Shares | 3.00% | 1.14% | 1.86% |
| JPMJpmorgan Chase | 2.40% | 1.68% | 0.72% |
| PMPhilip Morris International Inc. | 3.41% | 0.57% | 2.84% |
57.6% of CGCV is already inside PHEQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, CGCV or PHEQ?
CGCV has an expense ratio of 0.33% while PHEQ charges 0.29%. PHEQ is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, CGCV or PHEQ?
Over the past year CGCV returned +11.37% vs +12.67% for PHEQ, so PHEQ leads on 1-year performance. Over the longest common window we track (2 years), CGCV annualized +14.69% vs +12.64% for PHEQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CGCV or PHEQ?
CGCV has been the more volatile fund at 9.9% annualized versus 6.6% for PHEQ. Worst drawdown: CGCV -13.1% vs PHEQ -12.6%.
Should I hold both CGCV and PHEQ?
CGCV and PHEQ have a monthly-return correlation of 0.69, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CGCV and PHEQ?
57.6% of CGCV's money is in holdings PHEQ also owns. 50.0% of PHEQ's is in holdings CGCV also owns. They hold 32 positions in common, counted across the 73 positions we hold weights for in CGCV and 174 in PHEQ.
Which pays a higher dividend, CGCV or PHEQ?
CGCV yields 1.59% while PHEQ yields 0.82%, so CGCV currently pays the higher dividend yield.
Is PHEQ better than CGCV?
PHEQ has a lower expense ratio. CGCV led over the full window, PHEQ over 1Y. CGCV is less concentrated, with 33.0% of the fund in its ten largest positions against 40.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.