CSCS vs. HDGE

Last updated Jun 4, 2026

CSCS (Direxion Daily CSCO Bear 1X Shares) and HDGE (AdvisorShares Ranger Equity Bear ETF) are both Inverse Equities funds. At a 0.17 correlation, their price movements are largely independent. CSCS charges 1.00%/yr vs 3.36%/yr for HDGE.

Performance

CSCS vs. HDGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily CSCO Bear 1X Shares (CSCS) and AdvisorShares Ranger Equity Bear ETF (HDGE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CSCS achieves a -42.32% return, which is significantly lower than HDGE's 5.43% return.

CSCS

• 1D: 1.10%
• 1M: -28.69%
• YTD: -42.32%
• 6M: -41.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HDGE

• 1D: 2.55%
• 1M: -2.09%
• YTD: 5.43%
• 6M: 5.59%
• 1Y: -0.65%
• 3Y*: -5.06%
• 5Y*: -2.89%
• 10Y*: -14.77%

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

CSCS vs. HDGE - Yearly Performance Comparison

	2026 (YTD)	2025
CSCS Direxion Daily CSCO Bear 1X Shares	-42.32%	-11.22%
HDGE AdvisorShares Ranger Equity Bear ETF	5.43%	-3.01%

Correlation

The correlation between CSCS and HDGE is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.17

Return for Risk

CSCS 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: 8
HDGE Sharpe Ratio Rank: 8
HDGE Sortino Ratio Rank: 8
HDGE Omega Ratio Rank: 8
HDGE Calmar Ratio Rank: 8
HDGE Martin Ratio Rank: 8

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.

CSCS vs. HDGE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSCO Bear 1X Shares (CSCS) 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

	CSCS	HDGE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.04	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.12	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.67	-0.67	-1.00

Drawdowns

CSCS vs. HDGE - Drawdown Comparison

The maximum CSCS drawdown since its inception was -50.80%, smaller than the maximum HDGE drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for CSCS and HDGE.

Drawdown Indicators

	CSCS	HDGE	Difference
Max Drawdown Largest peak-to-trough decline	-50.80%	-93.88%	+43.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.26%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-29.46%	—
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	-50.26%	-93.08%	+42.82%
Average Drawdown Average peak-to-trough decline	-13.70%	-70.11%	+56.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.16%	—

Volatility

Volatility by Period

	CSCS	HDGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.81%	—
Volatility (1Y) Calculated over the trailing 1-year period	30.62%	18.33%	+12.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.62%	24.18%	+6.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.62%	23.56%	+7.06%

CSCS vs. HDGE - Expense Ratio Comparison

CSCS has a 1.00% expense ratio, which is lower than HDGE's 3.36% expense ratio.

Dividends

CSCS vs. HDGE - Dividend Comparison

CSCS's dividend yield for the trailing twelve months is around 4.02%, more than HDGE's 3.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CSCS Direxion Daily CSCO Bear 1X Shares	4.02%	1.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HDGE AdvisorShares Ranger Equity Bear ETF	3.32%	3.50%	7.83%	9.58%	0.00%	0.00%	0.00%	0.22%

Frequently Asked Questions

Can I hold both CSCS and HDGE in my portfolio?

CSCS and HDGE have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSCS or HDGE?

On fees, CSCS is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CSCS or HDGE?

CSCS is cheaper with a 1.00% expense ratio, compared with 3.36% for HDGE.

Which ETF pays a higher dividend yield, CSCS or HDGE?

CSCS has the higher dividend yield at 4.02%, compared with 3.32% for HDGE.

What is the main difference between CSCS and HDGE?

They also come from different issuers: Direxion and AdvisorShares. Their fees differ too: 1.00% for CSCS and 3.36% for HDGE.