MMSD vs PHDG
Comparison between IQ MACKAY MUNICIPAL SHORT DURATION ETF (MMSD, ETF) and INVESCO S&P 500 DOWNSIDE HEDGED ETF (PHDG, ETF).
MMSD vs PHDG - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
MMSD
$68M
PHDG
$68M
Expense Ratio
Winner
MMSD
0.25%
PHDG
0.39%
Max Drawdown
Winner
MMSD
1.85%
PHDG
23.59%
Sharpe Ratio
MMSD
0.45
Winner
PHDG
1.70
5Y Beta
Winner
MMSD
0.03
PHDG
0.30
5Y Dividends CAGR
MMSD
N/A
PHDG
28.74%
MMSD vs PHDG - Historical Returns
Returns include dividend reinvestment.
1M
Winner
MMSD
+0.52%
PHDG
-0.34%
3M
MMSD
+0.54%
Winner
PHDG
+9.29%
6M
MMSD
+1.65%
Winner
PHDG
+10.55%
1Y
MMSD
+4.34%
Winner
PHDG
+21.26%
5Y(CAGR)
MMSD
N/A
PHDG
+5.02%
10Y(CAGR)
MMSD
N/A
PHDG
+7.03%
Max(CAGR)
MMSD
+4.59%
Winner
PHDG
+5.75%
MMSD vs PHDG - Annual Returns (2012 - 2026)
Returns include dividend reinvestment.
| Year | MMSD | PHDG |
|---|---|---|
| 2026 | +1.32% | +11.61% |
| 2025 | +3.66% | +2.46% |
| 2024 | N/A | +11.96% |
| 2023 | N/A | +8.79% |
| 2022 | N/A | -14.38% |
| 2021 | N/A | +16.13% |
| 2020 | N/A | +18.15% |
| 2019 | N/A | +8.89% |
| 2018 | N/A | -3.39% |
| 2017 | N/A | +15.36% |
| 2016 | N/A | -0.25% |
| 2015 | N/A | -9.72% |
| 2014 | N/A | +6.86% |
| 2013 | N/A | +12.19% |
| 2012 | N/A | -0.01% |
MMSD vs PHDG Drawdown Comparison
The maximum drawdown for MMSD was -1.35%, occurring on Mar 26, 2026. Recovery took 73 trading sessions.
The maximum drawdown for PHDG was -17.69%, occurring on Nov 3, 2016. Recovery took 759 trading sessions.
The current MMSD drawdown is -0.12%. The current PHDG drawdown is -3.52%.
| Rank | MMSD | PHDG |
|---|---|---|
| #1 | -1.35% Feb 26, 2026 - Jun 11, 2026 | -17.69% Dec 5, 2014 - Dec 11, 2017 |
| #2 | -0.49% Sep 15, 2025 - Dec 16, 2025 | -17.06% Dec 27, 2021 - Jun 12, 2024 |
| #3 | -0.36% May 16, 2025 - May 27, 2025 | -15.87% Mar 18, 2020 - Aug 24, 2020 |
| #4 | -0.22% May 6, 2025 - May 16, 2025 | -14.79% Dec 4, 2024 - Mar 2, 2026 |
| #5 | -0.16% Jul 10, 2025 - Jul 21, 2025 | -12.79% Feb 6, 2018 - Mar 12, 2020 |
| #6 | -0.16% Jan 14, 2026 - Jan 21, 2026 | -10.06% Sep 2, 2020 - Apr 15, 2021 |
| #7 | -0.14% Jun 12, 2025 - Jun 23, 2025 | -6.11% Aug 5, 2024 - Dec 4, 2024 |
| #8 | -0.13% Jun 5, 2025 - Jun 10, 2025 | -5.20% Aug 2, 2013 - Dec 23, 2013 |
| #9 | -0.12% Jul 29, 2025 - Jul 31, 2025 | -4.42% Sep 7, 2021 - Nov 2, 2021 |
| #10 | -0.12% Jun 11, 2026 - Jun 12, 2026 | -4.37% Jul 16, 2024 - Aug 5, 2024 |
| #11 | -0.10% Jan 21, 2026 - Jan 28, 2026 | -3.88% Jun 4, 2026 - Jun 11, 2026 |
| #12 | -0.08% May 27, 2025 - May 30, 2025 | -3.69% Apr 2, 2014 - Jun 9, 2014 |
| #13 | -0.08% Sep 8, 2025 - Sep 10, 2025 | -3.44% Dec 31, 2013 - Feb 28, 2014 |
| #14 | -0.08% Dec 18, 2025 - Dec 29, 2025 | -3.37% Mar 10, 2026 - Apr 8, 2026 |
| #15 | -0.08% Jan 9, 2026 - Jan 14, 2026 | -3.26% May 12, 2021 - Jul 2, 2021 |
Correlation
Correlation between MMSD and PHDG is 0.87 which considered as a strong positive correlation - the stocks tend to move together.
0.87
-101
Dividend Comparison (2012 - 2026)
MMSD vs PHDG dividend yield comparison.
| Year | MMSD | PHDG |
|---|---|---|
| 2026 | 1.47% | 0.36% |
| 2025 | 2.30% | 2.10% |
| 2024 | 0.00% | 1.94% |
| 2023 | 0.00% | 1.93% |
| 2022 | 0.00% | 1.35% |
| 2021 | 0.00% | 0.44% |
| 2020 | 0.00% | 0.63% |
| 2019 | 0.00% | 1.80% |
| 2018 | 0.00% | 1.56% |
| 2017 | 0.00% | 1.83% |
| 2016 | 0.00% | 2.29% |
| 2015 | 0.00% | 1.64% |
| 2014 | 0.00% | 5.46% |
| 2013 | 0.00% | 1.76% |
| 2012 | 0.00% | 0.09% |
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