Fidelity Hedged Equity ETF (FHEQ) Performance
FHEQ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.4% since Dec 31, 2025
- 1 year
- +9.5% total return
- Since first price
- +35.8% since 2024
FHEQ trailing returns vs SPY, QQQ, AGG
| Period | FHEQ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.3% | −1.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.1% | +0.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.2% | +5.9% | +7.8% | +8.4% | −1.5% |
| YTD | +8.4% | +7.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.5% | +8.8% | +14.4% | +15.9% | −1.1% |
| Since inceptionApr 11, 2024 | +35.8% | +33.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FHEQ vs SPY
From Apr 11, 2024: FHEQ grew to $13,585, SPY to $15,104.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FHEQ returns by calendar year
1 of 1 full years positive. Best 2025 (+13.3%), worst 2025 (+13.3%). 2026 is year to date.
FHEQ annual returns table
| Year | FHEQ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.4% | −7.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +13.3% | −10.3% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FHEQ largest drawdowns
Now 3.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 6, 2024 | −11.1% | Apr 21, 2025 | Jun 24, 2025 | 4 months | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FHEQ risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +15.4% |
| Volatility (annualized) | 9.5% |
| Sharpe ratio | 1.13 |
| Sortino ratio | 2.30 |
| Best month | +8.8% |
| Worst month | −3.8% |
| Best 12 months | +22.0% |
| Worst 12 months | +9.9% |
| Positive months | 66% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FHEQ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 19 | +7.8% | +12.6% | +22.0% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
FHEQ performance overview
Fidelity Hedged Equity ETF (FHEQ) returned +9.5% over the past year, with distributions reinvested. Since its first recorded price on Apr 11, 2024 it has returned +35.8%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −11.1%, from Dec 6, 2024 to Apr 21, 2025, and it took 2 months to get back to the old high. Volatility has been 9.5% a year.
Related: FHEQ chart, FHEQ holdings, FHEQ dividends, FHEQ valuation. See the FHEQ overview for the latest quote and fund facts.
FHEQ performance FAQ
What is the FHEQ return over the past year?
FHEQ returned +9.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 8.8%.
How much would $10,000 invested in FHEQ be worth?
$10,000 invested in FHEQ at its first recorded close on April 11, 2024 would be worth about $13,585 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of FHEQ?
The largest peak-to-trough decline was −11.1% between December 6, 2024 and April 21, 2025. It recovered to the old high on June 24, 2025, 2 months after the bottom.
How volatile is FHEQ?
Over the past history FHEQ had an annualized volatility of 9.5% and a Sharpe ratio of 1.13 (excess return over 1–3 month T-bills per unit of risk).