ADBG vs. HVAC

Last updated Jun 5, 2026

ADBG (Leverage Shares 2X Long ADBE Daily ETF) and HVAC (AdvisorShares HVAC and Industrials ETF) are both exchange-traded funds - ADBG is a Leveraged Equities fund actively managed by Leverage Shares, while HVAC is a Industrials Equities fund actively managed by AdvisorShares. Both are actively managed. Over the past year, ADBG returned -69.78% vs 57.49% for HVAC. At a correlation of -0.03, they often move in opposite directions. ADBG charges 0.75%/yr vs 1.00%/yr for HVAC.

Performance

ADBG vs. HVAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ADBE Daily ETF (ADBG) and AdvisorShares HVAC and Industrials ETF (HVAC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADBG achieves a -52.15% return, which is significantly lower than HVAC's 34.83% return.

ADBG

• 1D: 1.66%
• 1M: -0.81%
• YTD: -52.15%
• 6M: -46.56%
• 1Y: -69.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HVAC

• 1D: -1.21%
• 1M: 0.07%
• YTD: 34.83%
• 6M: 28.68%
• 1Y: 57.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ADBG vs. HVAC - Yearly Performance Comparison

	2026 (YTD)	2025
ADBG Leverage Shares 2X Long ADBE Daily ETF	-52.15%	-30.89%
HVAC AdvisorShares HVAC and Industrials ETF	34.83%	35.26%

Correlation

The correlation between ADBG and HVAC is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (All Time) Calculated using the full available price history since Mar 24, 2025	-0.03

The correlation between ADBG and HVAC shifts across timeframes, from -0.18 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ADBG vs. HVAC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADBG

ADBG Risk / Return Rank: 1
ADBG Sharpe Ratio Rank: 1
ADBG Sortino Ratio Rank: 1
ADBG Omega Ratio Rank: 1
ADBG Calmar Ratio Rank: 1
ADBG Martin Ratio Rank: 2

HVAC

HVAC Risk / Return Rank: 66
HVAC Sharpe Ratio Rank: 64
HVAC Sortino Ratio Rank: 57
HVAC Omega Ratio Rank: 58
HVAC Calmar Ratio Rank: 78
HVAC Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADBG vs. HVAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ADBE Daily ETF (ADBG) and AdvisorShares HVAC and Industrials ETF (HVAC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ADBG	HVAC	Difference
Sharpe ratio: Return per unit of total volatility	-1.04	2.11	-3.15
Sortino ratio: Return per unit of downside risk	-1.86	2.67	-4.53
Omega ratio: Gain probability vs. loss probability	0.78	1.35	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.92	3.90	-4.81
Martin ratio: Return relative to average drawdown	-1.39	13.77	-15.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADBG vs. HVAC - Sharpe Ratio Comparison

The current ADBG Sharpe Ratio is -1.04, which is lower than the HVAC Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of ADBG and HVAC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ADBG	HVAC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.04	2.11	-3.15
Sharpe Ratio (All Time) Calculated using the full available price history	-0.90	1.62	-2.52

Drawdowns

ADBG vs. HVAC - Drawdown Comparison

The maximum ADBG drawdown since its inception was -76.71%, which is greater than HVAC's maximum drawdown of -21.22%. Use the drawdown chart below to compare losses from any high point for ADBG and HVAC.

Drawdown Indicators

	ADBG	HVAC	Difference
Max Drawdown Largest peak-to-trough decline	-76.71%	-21.22%	-55.49%
Max Drawdown (1Y) Largest decline over 1 year	-76.23%	-14.83%	-61.40%
Current Drawdown Current decline from peak	-70.94%	-1.80%	-69.14%
Average Drawdown Average peak-to-trough decline	-41.74%	-3.95%	-37.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.32%	4.19%	+46.13%

Volatility

ADBG vs. HVAC - Volatility Comparison

Leverage Shares 2X Long ADBE Daily ETF (ADBG) has a higher volatility of 27.74% compared to AdvisorShares HVAC and Industrials ETF (HVAC) at 10.13%. This indicates that ADBG's price experiences larger fluctuations and is considered to be riskier than HVAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADBG	HVAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.74%	10.13%	+17.61%
Volatility (6M) Calculated over the trailing 6-month period	56.25%	23.00%	+33.25%
Volatility (1Y) Calculated over the trailing 1-year period	67.12%	27.41%	+39.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.85%	29.37%	+37.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.85%	29.37%	+37.48%

ADBG vs. HVAC - Expense Ratio Comparison

ADBG has a 0.75% expense ratio, which is lower than HVAC's 1.00% expense ratio.

Dividends

ADBG vs. HVAC - Dividend Comparison

ADBG has not paid dividends to shareholders, while HVAC's dividend yield for the trailing twelve months is around 0.14%.

Position	TTM	2025
ADBG Leverage Shares 2X Long ADBE Daily ETF	0.00%	0.00%
HVAC AdvisorShares HVAC and Industrials ETF	0.14%	0.19%

Frequently Asked Questions

Can I hold both ADBG and HVAC in my portfolio?

ADBG and HVAC have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADBG or HVAC?

ADBG has higher volatility (27.74%) compared to HVAC (10.13%). In terms of maximum drawdown, ADBG dropped -76.71% vs HVAC's -21.22%.

Which ETF is better, ADBG or HVAC?

On 1-year performance, HVAC leads with 57.49% vs -69.78% for ADBG. On fees, ADBG is cheaper at 0.75% per year. On volatility, HVAC has been the lower-risk option at 10.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADBG or HVAC?

Over the 1-year period, HVAC has performed better with a 57.49% return vs -69.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADBG or HVAC?

ADBG is cheaper with a 0.75% expense ratio, compared with 1.00% for HVAC.

Which ETF pays a higher dividend yield, ADBG or HVAC?

HVAC has the higher dividend yield at 0.14%, compared with 0.00% for ADBG.

What is the main difference between ADBG and HVAC?

ADBG is categorized as Leveraged Equities, while HVAC is Industrials Equities. They also come from different issuers: Leverage Shares and AdvisorShares. Their fees differ too: 0.75% for ADBG and 1.00% for HVAC.

Which has better risk-adjusted returns?

HVAC currently has the higher Sharpe Ratio (2.11 vs -1.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.