FLYD vs. HDGE
Compare and contrast key facts about MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) and AdvisorShares Ranger Equity Bear ETF (HDGE).
FLYD and HDGE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLYD is a passively managed fund by REX that tracks the performance of the MerQube MicroSectors U.S. Travel Index. It was launched on Jun 22, 2022. HDGE is an actively managed fund by AdvisorShares. It was launched on Jan 26, 2011.
Performance
FLYD vs. HDGE - Performance Comparison
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FLYD vs. HDGE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | 26.36% | -60.42% | -54.13% | -75.14% | -46.23% |
HDGE AdvisorShares Ranger Equity Bear ETF | 11.86% | 1.50% | -8.01% | -26.98% | -7.79% |
Returns By Period
In the year-to-date period, FLYD achieves a 26.36% return, which is significantly higher than HDGE's 11.86% return.
FLYD
- 1D
- -3.97%
- 1M
- 7.80%
- YTD
- 26.36%
- 6M
- 5.01%
- 1Y
- -62.53%
- 3Y*
- -52.14%
- 5Y*
- —
- 10Y*
- —
HDGE
- 1D
- -0.17%
- 1M
- 4.07%
- YTD
- 11.86%
- 6M
- 13.54%
- 1Y
- 4.31%
- 3Y*
- -4.82%
- 5Y*
- -2.70%
- 10Y*
- -14.58%
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FLYD vs. HDGE - Expense Ratio Comparison
FLYD has a 0.95% expense ratio, which is lower than HDGE's 3.36% expense ratio.
Return for Risk
FLYD vs. HDGE — Risk / Return Rank
FLYD
HDGE
FLYD vs. HDGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) 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.
| FLYD | HDGE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.67 | 0.22 | -0.89 |
Sortino ratioReturn per unit of downside risk | -0.73 | 0.45 | -1.18 |
Omega ratioGain probability vs. loss probability | 0.90 | 1.06 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | -0.76 | 0.21 | -0.96 |
Martin ratioReturn relative to average drawdown | -0.86 | 0.30 | -1.16 |
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
| FLYD | HDGE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.67 | 0.22 | -0.89 |
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 | -0.72 | -0.67 | -0.06 |
Correlation
The correlation between FLYD and HDGE is 0.74, 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
FLYD vs. HDGE - Dividend Comparison
FLYD 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 | |
|---|---|---|---|---|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | 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
FLYD vs. HDGE - Drawdown Comparison
The maximum FLYD drawdown since its inception was -97.96%, roughly equal to the maximum HDGE drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for FLYD and HDGE.
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Drawdown Indicators
| FLYD | HDGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.96% | -93.88% | -4.08% |
Max Drawdown (1Y)Largest decline over 1 year | -82.41% | -19.63% | -62.78% |
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 | -97.09% | -92.66% | -4.43% |
Average DrawdownAverage peak-to-trough decline | -82.46% | -69.85% | -12.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.53% | 13.54% | +58.99% |
Volatility
FLYD vs. HDGE - Volatility Comparison
MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) has a higher volatility of 28.29% compared to AdvisorShares Ranger Equity Bear ETF (HDGE) at 4.49%. This indicates that FLYD'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
| FLYD | HDGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.29% | 4.49% | +23.80% |
Volatility (6M)Calculated over the trailing 6-month period | 54.96% | 12.17% | +42.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 92.87% | 19.95% | +72.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.48% | 23.95% | +59.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.48% | 23.51% | +59.97% |