ProShares Hedge Replication (HDG) Alternatives
ProShares Hedge Replication (HDG) belongs to the Long-Short category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with HDG. Use the tables to find lower-cost options, better risk-adjusted returns, or funds that fit a different role in your portfolio.
Cheapest Alternatives to HDG
HDG charges 0.95% annually. Among ETFs in the Long-Short category, these options have the lowest expense ratios among HDG alternatives.
| Symbol | Name | Expense Ratio | Inception | |
|---|---|---|---|---|
| Proshares Large Cap Core Plus | 0.45% | Jul 13, 2009 | HDG vs CSM | |
| Aptus International Enhanced Yield ETF | 0.45% | Jul 22, 2021 | HDG vs IDUB | |
| ProShares Long Online/Short Stores ETF | 0.65% | Nov 14, 2017 | HDG vs CLIX | |
| WisdomTree Inflation Plus Fund | 0.65% | Jun 18, 2025 | HDG vs WTIP | |
| Franklin Liberty Systematic Style Premia ETF | 0.65% | Dec 18, 2019 | HDG vs FLSP |
Best Risk-Adjusted Alternatives to HDG
Among ETFs in the Long-Short category, these options rank highest on PortfoliosLab's risk-adjusted score, which accounts for volatility, drawdown, and return consistency over a 1-year period.
| Symbol | Name | Risk / Return Rank | Inception | |
|---|---|---|---|---|
| Convergence Long/Short Equity ETF | 94 | Feb 22, 2022 | HDG vs CLSE | |
| Militia Long/Short Equity ETF | 92 | Jan 14, 2025 | HDG vs ORR | |
| First Trust Merger Arbitrage ETF | 84 | Feb 4, 2020 | HDG vs MARB | |
| AltShares Event-Driven ETF | 83 | Dec 31, 2014 | HDG vs EVNT | |
| IQ Hedge Multi-Strategy Tracker ETF | 80 | Mar 25, 2009 | HDG vs QAI |
Top Performing HDG Alternatives (YTD)
HDG alternatives from the Long-Short category, sorted by year-to-date return.
| Symbol | Name | YTD Return | Inception | |
|---|---|---|---|---|
| Harbor Long-Short Equity ETF | 20.53% | Dec 4, 2023 | HDG vs LSEQ | |
| Leatherback Long/Short Alternative Yield ETF | 15.90% | Nov 16, 2020 | HDG vs LBAY | |
| WisdomTree Inflation Plus Fund | 12.54% | Jun 18, 2025 | HDG vs WTIP | |
| KFA Mount Lucas Index Strategy ETF | 8.67% | Dec 2, 2020 | HDG vs KMLM | |
| Militia Long/Short Equity ETF | 6.70% | Jan 14, 2025 | HDG vs ORR |
Lowest Volatility Alternatives to HDG
HDG alternatives from the Long-Short category, sorted by annualized volatility over the past year.
| Symbol | Name | Volatility 1Y | Inception | |
|---|---|---|---|---|
| First Trust Merger Arbitrage ETF | 5.36% | Feb 4, 2020 | HDG vs MARB | |
| IQ Hedge Multi-Strategy Tracker ETF | 7.55% | Mar 25, 2009 | HDG vs QAI | |
| The Future Fund Long/Short ETF | 9.24% | Jun 20, 2023 | HDG vs FFLS | |
| KFA Mount Lucas Index Strategy ETF | 9.84% | Dec 2, 2020 | HDG vs KMLM | |
| AltShares Event-Driven ETF | 9.97% | Dec 31, 2014 | HDG vs EVNT |
Lowest Drawdown Alternatives to HDG
HDG alternatives from the Long-Short category, sorted by maximum drawdown over the past year.
| Symbol | Name | Max Drawdown 1Y | Inception | |
|---|---|---|---|---|
| First Trust Merger Arbitrage ETF | -2.43% | Feb 4, 2020 | HDG vs MARB | |
| AltShares Event-Driven ETF | -4.84% | Dec 31, 2014 | HDG vs EVNT | |
| IQ Hedge Multi-Strategy Tracker ETF | -5.43% | Mar 25, 2009 | HDG vs QAI | |
| Efficient Market Portfolio Plus ETF | -5.98% | Dec 11, 2024 | HDG vs EMPB | |
| First Trust Long/Short Equity ETF | -6.17% | Sep 9, 2014 | HDG vs FTLS |
Other ETFs from ProShares
Most popular ProShares ETFs on PortfoliosLab, across asset classes.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | Inception | |
|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities, Leveraged | 50 | -20.81% | Feb 9, 2010 | HDG vs TQQQ | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency, Actively Managed | 5 | -23.25% | Oct 19, 2021 | HDG vs BITO | |
| ProShares Ultra QQQ | Leveraged Equities, Leveraged | 57 | -13.35% | Jun 21, 2006 | HDG vs QLD | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 45 | -16.03% | Jun 23, 2009 | HDG vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 51 | -10.23% | Jun 19, 2006 | HDG vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | S&P 500, Dividend | 27 | 2.36% | Oct 9, 2013 | HDG vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 90 | -8.58% | Jan 30, 2007 | HDG vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Leveraged | 2 | 18.46% | Feb 9, 2010 | HDG vs SQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Leveraged, Volatility | 5 | 45.56% | Oct 3, 2011 | HDG vs UVXY | |
| Proshares Ultra Bitcoin ETF | Cryptocurrency, Leveraged Cryptocurrency | 3 | -47.12% | Apr 1, 2024 | HDG vs BITU |
Often Compared With HDG
What investors most often compare with HDG, based on PortfoliosLab usage data.
Compare HDG with Any Fund or Stock
Compare HDG with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.