DAMD vs. HDGE
DAMD (Defiance Daily Target 2X Short AMD ETF) and HDGE (AdvisorShares Ranger Equity Bear ETF) are both Inverse Equities funds. DAMD is passively managed, while HDGE is actively managed. At a 0.17 correlation, their price movements are largely independent. DAMD charges 1.31%/yr vs 3.36%/yr for HDGE.
Performance
DAMD vs. HDGE - Performance Comparison
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Returns By Period
In the year-to-date period, DAMD achieves a -90.01% return, which is significantly lower than HDGE's 4.12% return.
DAMD
- 1D
- 21.08%
- 1M
- -30.23%
- YTD
- -90.01%
- 6M
- -89.96%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDGE
- 1D
- 0.54%
- 1M
- -2.11%
- YTD
- 4.12%
- 6M
- 4.34%
- 1Y
- -1.72%
- 3Y*
- -4.53%
- 5Y*
- -3.13%
- 10Y*
- -14.75%
DAMD vs. HDGE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DAMD Defiance Daily Target 2X Short AMD ETF | -90.01% | 22.15% |
HDGE AdvisorShares Ranger Equity Bear ETF | 4.12% | -3.58% |
Correlation
The correlation between DAMD 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 Nov 17, 2025 | 0.17 |
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Return for Risk
DAMD vs. HDGE — Risk / Return Rank
DAMD
HDGE
DAMD vs. HDGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Short AMD ETF (DAMD) 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.
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Sharpe Ratios by Period
| DAMD | HDGE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | -0.09 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.13 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.71 | -0.68 | -0.03 |
Drawdowns
DAMD vs. HDGE - Drawdown Comparison
The maximum DAMD drawdown since its inception was -93.52%, roughly equal to the maximum HDGE drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for DAMD and HDGE.
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Drawdown Indicators
| DAMD | HDGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.52% | -93.88% | +0.36% |
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 DrawdownCurrent decline from peak | -91.57% | -93.16% | +1.59% |
Average DrawdownAverage peak-to-trough decline | -39.60% | -70.12% | +30.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.16% | — |
Volatility
DAMD vs. HDGE - Volatility Comparison
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Volatility by Period
| DAMD | HDGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.61% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 12.81% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 138.28% | 18.36% | +119.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 138.28% | 24.18% | +114.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 138.28% | 23.56% | +114.72% |
DAMD vs. HDGE - Expense Ratio Comparison
DAMD has a 1.31% expense ratio, which is lower than HDGE's 3.36% expense ratio.
Dividends
DAMD vs. HDGE - Dividend Comparison
DAMD has not paid dividends to shareholders, while HDGE's dividend yield for the trailing twelve months is around 3.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DAMD Defiance Daily Target 2X Short AMD ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HDGE AdvisorShares Ranger Equity Bear ETF | 3.36% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% |
Frequently Asked Questions
DAMD 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.
On fees, DAMD is cheaper at 1.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DAMD is cheaper with a 1.31% expense ratio, compared with 3.36% for HDGE.
HDGE has the higher dividend yield at 3.36%, compared with 0.00% for DAMD.
They also come from different issuers: Defiance and AdvisorShares. Their fees differ too: 1.31% for DAMD and 3.36% for HDGE.
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