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BIS vs. HDGE
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between BIS and HDGE is -0.78. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


Performance

BIS vs. HDGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Nasdaq Biotechnology (BIS) and AdvisorShares Ranger Equity Bear ETF (HDGE). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

BIS:

0.35

HDGE:

-0.20

Sortino Ratio

BIS:

0.79

HDGE:

-0.14

Omega Ratio

BIS:

1.09

HDGE:

0.98

Calmar Ratio

BIS:

0.15

HDGE:

-0.04

Martin Ratio

BIS:

1.04

HDGE:

-0.32

Ulcer Index

BIS:

14.00%

HDGE:

12.66%

Daily Std Dev

BIS:

45.00%

HDGE:

20.72%

Max Drawdown

BIS:

-99.77%

HDGE:

-93.88%

Current Drawdown

BIS:

-99.69%

HDGE:

-92.89%

Returns By Period

In the year-to-date period, BIS achieves a 5.66% return, which is significantly lower than HDGE's 9.85% return. Over the past 10 years, BIS has underperformed HDGE with an annualized return of -16.06%, while HDGE has yielded a comparatively higher -14.87% annualized return.


BIS

YTD

5.66%

1M

-3.77%

6M

13.40%

1Y

15.77%

3Y*

-10.76%

5Y*

-10.09%

10Y*

-16.06%

HDGE

YTD

9.85%

1M

-6.66%

6M

12.28%

1Y

-4.20%

3Y*

-10.51%

5Y*

-17.12%

10Y*

-14.87%

*Annualized

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BIS vs. HDGE - Expense Ratio Comparison

BIS has a 0.95% expense ratio, which is lower than HDGE's 3.36% expense ratio.


Risk-Adjusted Performance

BIS vs. HDGE — Risk-Adjusted Performance Rank

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

BIS
The Risk-Adjusted Performance Rank of BIS is 4040
Overall Rank
The Sharpe Ratio Rank of BIS is 4040
Sharpe Ratio Rank
The Sortino Ratio Rank of BIS is 5151
Sortino Ratio Rank
The Omega Ratio Rank of BIS is 4343
Omega Ratio Rank
The Calmar Ratio Rank of BIS is 2727
Calmar Ratio Rank
The Martin Ratio Rank of BIS is 3838
Martin Ratio Rank

HDGE
The Risk-Adjusted Performance Rank of HDGE is 1212
Overall Rank
The Sharpe Ratio Rank of HDGE is 1111
Sharpe Ratio Rank
The Sortino Ratio Rank of HDGE is 1111
Sortino Ratio Rank
The Omega Ratio Rank of HDGE is 1111
Omega Ratio Rank
The Calmar Ratio Rank of HDGE is 1515
Calmar Ratio Rank
The Martin Ratio Rank of HDGE is 1313
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

BIS vs. HDGE - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Nasdaq Biotechnology (BIS) and AdvisorShares Ranger Equity Bear ETF (HDGE). 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.


The current BIS Sharpe Ratio is 0.35, which is higher than the HDGE Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of BIS and HDGE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Dividends

BIS vs. HDGE - Dividend Comparison

BIS's dividend yield for the trailing twelve months is around 3.42%, less than HDGE's 7.13% yield.


TTM2024202320222021202020192018
BIS
ProShares UltraShort Nasdaq Biotechnology
3.42%3.73%1.75%0.00%0.00%0.45%2.11%0.37%
HDGE
AdvisorShares Ranger Equity Bear ETF
7.13%7.83%9.58%0.00%0.00%0.00%0.22%0.00%

Drawdowns

BIS vs. HDGE - Drawdown Comparison

The maximum BIS drawdown since its inception was -99.77%, which is greater than HDGE's maximum drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for BIS and HDGE. For additional features, visit the drawdowns tool.


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Volatility

BIS vs. HDGE - Volatility Comparison

ProShares UltraShort Nasdaq Biotechnology (BIS) has a higher volatility of 19.28% compared to AdvisorShares Ranger Equity Bear ETF (HDGE) at 6.48%. This indicates that BIS's price experiences larger fluctuations and is considered to be riskier than HDGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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