HEGD vs LGDX
Swan Hedged Equity US Large Cap ETF vs Intech S&P Large Cap Diversified Alpha ETF
Which is better, HEGD or LGDX?
LGDX has been ahead.
LGDX has a lower expense ratio. LGDX led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93.
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 | HEGD | LGDX |
|---|---|---|
| Expense Ratio | 0.87% | 0.25%Best |
| AUM | $749M | $147M |
| Dividend Yield | 0.34% | 0.47% |
| Holdings | 26 | 590 |
| YTD Return | +6.59% | +11.53%Best |
| 1Y Return | +8.56% | +14.44%Best |
| 3Y Return (annualized) | +14.04% | - |
| 5Y Return (annualized) | +8.16% | - |
| Volatility (annualized) | 7.5%Best | 12.5% |
| Max Drawdown | -6.4%Best | -15.8% |
| $10,000 over 1.6 years | $11,891 | $12,640Best |
| Fund Family | Swan Capital Management | Intech ETF |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 22, 2020 | Mar 1, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Feb 28, 2025 to Oct 14, 2026 (1.6 years).
HEGD vs LGDX 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 1.6 years both funds cover.
HEGD vs LGDX Performance
Swan Hedged Equity US Large Cap ETF (HEGD) is an ETF from Swan Capital Management and Intech S&P Large Cap Diversified Alpha ETF (LGDX) is an ETF from Intech ETF. Over the past year HEGD returned +8.56% while LGDX returned +14.44%. Year to date, HEGD is up 6.59% versus a gain of 11.53% for LGDX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
LGDX has been the more volatile fund, with annualized monthly volatility of 12.5% compared with 7.5% for HEGD. 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 -6.4% for HEGD and -15.8% for LGDX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
HEGD charges 0.87% per year while LGDX charges 0.25%. On a $10,000 position that is $87 vs $25 annually, a gap of $62 per year that compounds over a long holding period. On income, HEGD currently yields 0.34% against 0.47% for LGDX.
Holdings Overlap
At least 0.7% of LGDX's money is in holdings HEGD also owns.
Stated as a floor: for HEGD, our book for it covers 93.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 2 positions we hold weights for in HEGD and 295 in LGDX, against full books of 26 and 590.
Top Shared Holdings
| Stock | Weight in HEGD | Weight in LGDX | Difference |
|---|---|---|---|
| FGXXXFirst American Government Obligations Fund | 0.35% | 0.71% | 0.36% |
You are not choosing between two funds in isolation.
Whichever of HEGD and LGDX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HEGD or LGDX?
HEGD has an expense ratio of 0.87% while LGDX charges 0.25%. LGDX is the cheaper option, by $62 a year on a $10,000 investment.
Which performed better, HEGD or LGDX?
Over the past year HEGD returned +8.56% vs +14.44% for LGDX, so LGDX leads on 1-year performance. Over the longest common window we track (2 years), HEGD annualized +11.43% vs +15.77% for LGDX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HEGD or LGDX?
LGDX has been the more volatile fund at 12.5% annualized versus 7.5% for HEGD. Worst drawdown: HEGD -6.4% vs LGDX -15.8%.
Should I hold both HEGD and LGDX?
HEGD and LGDX have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, HEGD or LGDX?
HEGD yields 0.34% while LGDX yields 0.47%, so LGDX currently pays the higher dividend yield.
Is LGDX better than HEGD?
LGDX has a lower expense ratio. LGDX led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.93. Which one suits a particular account depends on what it is for. This is information, not a recommendation.