DOG vs. HDGE
Compare and contrast key facts about ProShares Short Dow30 (DOG) and AdvisorShares Ranger Equity Bear ETF (HDGE).
DOG and HDGE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DOG is a passively managed fund by ProShares that tracks the performance of the DJ Industrial Average (-100%). It was launched on Jun 19, 2006. HDGE is an actively managed fund by AdvisorShares. It was launched on Jan 26, 2011.
Performance
DOG vs. HDGE - Performance Comparison
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DOG vs. HDGE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DOG ProShares Short Dow30 | 4.40% | -8.40% | -5.62% | -7.05% | 5.67% | -19.21% | -20.45% | -18.43% | 3.55% | -21.51% |
HDGE AdvisorShares Ranger Equity Bear ETF | 12.05% | 1.50% | -8.01% | -26.98% | 16.59% | -18.61% | -43.47% | -36.27% | 7.53% | -15.24% |
Returns By Period
In the year-to-date period, DOG achieves a 4.40% return, which is significantly lower than HDGE's 12.05% return. Over the past 10 years, DOG has outperformed HDGE with an annualized return of -10.49%, while HDGE has yielded a comparatively lower -14.57% annualized return.
DOG
- 1D
- -2.44%
- 1M
- 5.84%
- YTD
- 4.40%
- 6M
- 1.88%
- 1Y
- -6.66%
- 3Y*
- -5.84%
- 5Y*
- -4.72%
- 10Y*
- -10.49%
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%
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DOG vs. HDGE - Expense Ratio Comparison
DOG has a 0.95% expense ratio, which is lower than HDGE's 3.36% expense ratio.
Return for Risk
DOG vs. HDGE — Risk / Return Rank
DOG
HDGE
DOG vs. HDGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Dow30 (DOG) 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.
| DOG | HDGE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.40 | 0.22 | -0.61 |
Sortino ratioReturn per unit of downside risk | -0.45 | 0.45 | -0.90 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.06 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | -0.34 | 0.21 | -0.54 |
Martin ratioReturn relative to average drawdown | -0.46 | 0.30 | -0.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DOG | HDGE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | 0.22 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.32 | -0.11 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.60 | -0.62 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.55 | -0.66 | +0.12 |
Correlation
The correlation between DOG and HDGE is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
DOG vs. HDGE - Dividend Comparison
DOG's dividend yield for the trailing twelve months is around 3.21%, more than HDGE's 3.12% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DOG ProShares Short Dow30 | 3.21% | 3.65% | 5.72% | 4.54% | 0.41% | 0.00% | 0.14% | 1.54% | 0.86% | 0.04% |
HDGE AdvisorShares Ranger Equity Bear ETF | 3.12% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% | 0.00% | 0.00% |
Drawdowns
DOG vs. HDGE - Drawdown Comparison
The maximum DOG drawdown since its inception was -92.59%, roughly equal to the maximum HDGE drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for DOG and HDGE.
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Drawdown Indicators
| DOG | HDGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.59% | -93.88% | +1.29% |
Max Drawdown (1Y)Largest decline over 1 year | -22.70% | -19.63% | -3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -33.06% | -42.97% | +9.91% |
Max Drawdown (10Y)Largest decline over 10 years | -70.38% | -83.69% | +13.31% |
Current DrawdownCurrent decline from peak | -91.95% | -92.64% | +0.69% |
Average DrawdownAverage peak-to-trough decline | -66.16% | -69.85% | +3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.48% | 13.53% | +2.95% |
Volatility
DOG vs. HDGE - Volatility Comparison
ProShares Short Dow30 (DOG) has a higher volatility of 5.00% compared to AdvisorShares Ranger Equity Bear ETF (HDGE) at 4.48%. This indicates that DOG'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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Volatility by Period
| DOG | HDGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.00% | 4.48% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 9.24% | 12.17% | -2.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.82% | 19.95% | -3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.73% | 23.96% | -9.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.46% | 23.51% | -6.05% |