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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in AdvisorShares Ranger Equity Bear ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
AdvisorShares Ranger Equity Bear ETF (HDGE) has returned 12.05% so far this year and 4.28% over the past 12 months. Over the last ten years, HDGE has returned -14.57% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
AdvisorShares Ranger Equity Bear ETF
- 1D
- -1.94%
- 1M
- 4.54%
- YTD
- 12.05%
- 6M
- 13.38%
- 1Y
- 4.28%
- 3Y*
- -4.77%
- 5Y*
- -2.67%
- 10Y*
- -14.57%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Jan 27, 2011, HDGE's average daily return is -0.05%, while the average monthly return is -1.13%.
Historically, 40% of months were positive and 60% were negative. The best month was Mar 2020 with a return of +22.1%, while the worst month was Nov 2020 at -25.5%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 9 months.
On a daily basis, HDGE closed higher 46% of trading days. The best single day was Mar 16, 2020 with a return of +11.8%, while the worst single day was Nov 9, 2020 at -12.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.50% | 4.57% | 4.54% | 12.05% | |||||||||
| 2025 | -3.18% | 7.08% | 5.20% | 4.88% | -4.92% | -4.78% | 1.89% | -7.13% | 2.37% | 1.95% | 1.02% | -1.75% | 1.50% |
| 2024 | 6.68% | -2.89% | -1.26% | 8.98% | -3.23% | -0.29% | -9.56% | 2.09% | -1.73% | 0.37% | -10.12% | 4.48% | -8.01% |
| 2023 | -16.17% | 0.37% | 5.13% | 1.69% | -1.66% | -11.09% | -10.17% | 6.25% | 8.57% | 9.48% | -7.95% | -11.09% | -26.98% |
| 2022 | 3.08% | -2.28% | -1.57% | 13.50% | 3.89% | 11.17% | -10.48% | -1.57% | 7.19% | -6.18% | -4.19% | 5.66% | 16.59% |
| 2021 | -9.90% | -4.91% | -2.48% | -4.44% | -0.41% | -4.61% | 5.31% | 2.23% | 3.92% | -2.26% | 0.99% | -2.84% | -18.61% |
Benchmark Metrics
AdvisorShares Ranger Equity Bear ETF has an annualized alpha of -1.03%, beta of -1.03, and R² of 0.64 versus S&P 500 Index. Calculated based on daily prices since January 28, 2011.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -164.11%), but participation in market rallies was also limited (-82.30%) — a profile typical of counter-cyclical assets.
- Beta of -1.03 indicates this ETF moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- -1.03%
- Beta
- -1.03
- R²
- 0.64
- Upside Capture
- -82.30%
- Downside Capture
- -164.11%
Expense Ratio
HDGE has a high expense ratio of 3.36%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
HDGE ranks 16 for risk / return — in the bottom 16% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for AdvisorShares Ranger Equity Bear ETF (HDGE) and compare them to a chosen benchmark (S&P 500 Index).
| HDGE | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.22 | 0.90 | -0.68 |
Sortino ratioReturn per unit of downside risk | 0.45 | 1.39 | -0.94 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.21 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 0.21 | 1.40 | -1.19 |
Martin ratioReturn relative to average drawdown | 0.30 | 6.61 | -6.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore HDGE risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
AdvisorShares Ranger Equity Bear ETF provided a 3.12% dividend yield over the last twelve months, with an annual payout of $0.56 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.56 | $0.56 | $1.28 | $1.83 | $0.00 | $0.00 | $0.00 | $0.12 |
Dividend yield | 3.12% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% |
Monthly Dividends
The table displays the monthly dividend distributions for AdvisorShares Ranger Equity Bear ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.56 | $0.56 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.28 | $1.28 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.83 | $1.83 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the AdvisorShares Ranger Equity Bear ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the AdvisorShares Ranger Equity Bear ETF was 93.88%, occurring on Jan 21, 2025. The portfolio has not yet recovered.
The current AdvisorShares Ranger Equity Bear ETF drawdown is 92.64%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -93.88% | Oct 4, 2011 | 3344 | Jan 21, 2025 | — | — | — |
| -14.93% | Jan 31, 2011 | 72 | May 12, 2011 | 58 | Aug 4, 2011 | 130 |
| -9.43% | Aug 23, 2011 | 7 | Aug 31, 2011 | 15 | Sep 22, 2011 | 22 |
| -6.69% | Aug 11, 2011 | 3 | Aug 15, 2011 | 4 | Aug 19, 2011 | 7 |
| -6.11% | Sep 23, 2011 | 3 | Sep 27, 2011 | 4 | Oct 3, 2011 | 7 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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