CRCD vs. HDGE

Last updated Apr 1, 2026

Compare and contrast key facts about T-REX 2X Inverse CRCL Daily Target ETF (CRCD) and AdvisorShares Ranger Equity Bear ETF (HDGE).

CRCD and HDGE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CRCD is an actively managed fund by T-Rex. It was launched on Sep 25, 2025. HDGE is an actively managed fund by AdvisorShares. It was launched on Jan 26, 2011.

Performance

CRCD vs. HDGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Inverse CRCL Daily Target ETF (CRCD) and AdvisorShares Ranger Equity Bear ETF (HDGE). The values are adjusted to include any dividend payments, if applicable.

CRCD vs. HDGE - Yearly Performance Comparison

	2026 (YTD)	2025
CRCD T-REX 2X Inverse CRCL Daily Target ETF	-80.36%	43.19%
HDGE AdvisorShares Ranger Equity Bear ETF	12.05%	2.06%

Returns By Period

In the year-to-date period, CRCD achieves a -80.36% return, which is significantly lower than HDGE's 12.05% return.

CRCD

• 1D: -13.13%
• 1M: -45.34%
• YTD: -80.36%
• 6M: -69.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HDGE

• 1D: -1.94%
• 1M: 4.54%
• YTD: 12.05%
• 6M: 13.38%
• 1Y: 4.28%
• 3Y*: -4.77%
• 5Y*: -2.67%
• 10Y*: -14.57%

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

CRCD vs. HDGE - Expense Ratio Comparison

CRCD has a 1.50% expense ratio, which is lower than HDGE's 3.36% expense ratio.

HDGE

AdvisorShares Ranger Equity Bear ETF

CRCD

T-REX 2X Inverse CRCL Daily Target ETF

Return for Risk

CRCD vs. HDGE — Risk / Return Rank

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

HDGE

HDGE Risk / Return Rank: 17
HDGE Sharpe Ratio Rank: 18
HDGE Sortino Ratio Rank: 18
HDGE Omega Ratio Rank: 17
HDGE Calmar Ratio Rank: 16
HDGE Martin Ratio Rank: 14

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.

CRCD vs. HDGE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Inverse CRCL Daily Target ETF (CRCD) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CRCD	HDGE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.22	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.45	-0.66	+0.21

Correlation

The correlation between CRCD and HDGE is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CRCD vs. HDGE - Dividend Comparison

CRCD has not paid dividends to shareholders, while HDGE's dividend yield for the trailing twelve months is around 3.12%.

	TTM	2025	2024	2023	2022	2021	2020	2019
CRCD T-REX 2X Inverse CRCL Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HDGE AdvisorShares Ranger Equity Bear ETF	3.12%	3.50%	7.83%	9.58%	0.00%	0.00%	0.00%	0.22%

Drawdowns

CRCD vs. HDGE - Drawdown Comparison

The maximum CRCD drawdown since its inception was -94.38%, roughly equal to the maximum HDGE drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for CRCD and HDGE.

Drawdown Indicators

	CRCD	HDGE	Difference
Max Drawdown Largest peak-to-trough decline	-94.38%	-93.88%	-0.50%
Max Drawdown (1Y) Largest decline over 1 year	—	-19.63%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-42.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-83.69%	—
Current Drawdown Current decline from peak	-90.68%	-92.64%	+1.96%
Average Drawdown Average peak-to-trough decline	-40.91%	-69.85%	+28.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	13.53%	—

Volatility

Volatility by Period

	CRCD	HDGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.17%	—
Volatility (1Y) Calculated over the trailing 1-year period	203.98%	19.95%	+184.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	203.98%	23.96%	+180.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	203.98%	23.51%	+180.47%