HDG vs. ATTR
HDG (ProShares Hedge Replication) and ATTR (Arin Tactical Tail Risk ETF) are both Long-Short funds. HDG is passively managed, while ATTR is actively managed. A 0.75 correlation means they provide meaningful diversification when combined. HDG charges 0.95%/yr vs 0.63%/yr for ATTR.
Performance
HDG vs. ATTR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HDG achieves a 6.40% return, which is significantly higher than ATTR's 4.25% return.
HDG
- 1D
- -0.37%
- 1M
- 2.07%
- YTD
- 6.40%
- 6M
- 7.00%
- 1Y
- 13.22%
- 3Y*
- 7.56%
- 5Y*
- 3.02%
- 10Y*
- 3.91%
ATTR
- 1D
- -0.12%
- 1M
- 0.85%
- YTD
- 4.25%
- 6M
- 4.37%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDG vs. ATTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HDG ProShares Hedge Replication | 6.40% | 0.33% |
ATTR Arin Tactical Tail Risk ETF | 4.25% | 0.58% |
Correlation
The correlation between HDG and ATTR is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 29, 2025 | 0.75 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HDG vs. ATTR — Risk / Return Rank
HDG
ATTR
HDG vs. ATTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Hedge Replication (HDG) and Arin Tactical Tail Risk ETF (ATTR). 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.
| HDG | ATTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.46 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | — | — |
| Martin ratioReturn relative to average drawdown | 13.81 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HDG | ATTR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.36 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 2.81 | -2.38 |
Drawdowns
HDG vs. ATTR - Drawdown Comparison
The maximum HDG drawdown since its inception was -15.31%, which is greater than ATTR's maximum drawdown of -1.76%. Use the drawdown chart below to compare losses from any high point for HDG and ATTR.
Loading charts...
Drawdown Indicators
| HDG | ATTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.31% | -1.76% | -13.55% |
Max Drawdown (1Y)Largest decline over 1 year | -3.97% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -7.20% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.31% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.31% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.19% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -2.77% | -0.18% | -2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | — | — |
Volatility
HDG vs. ATTR - Volatility Comparison
Loading charts...
Volatility by Period
| HDG | ATTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.06% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.58% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.64% | 2.97% | +2.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.15% | 2.97% | +4.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.11% | 2.97% | +4.14% |
HDG vs. ATTR - Expense Ratio Comparison
HDG has a 0.95% expense ratio, which is higher than ATTR's 0.63% expense ratio.
Dividends
HDG vs. ATTR - Dividend Comparison
HDG's dividend yield for the trailing twelve months is around 2.35%, while ATTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ATTR Arin Tactical Tail Risk ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HDG ProShares Hedge Replication | 2.35% | 2.55% | 3.50% | 3.48% | 0.39% | 0.00% | 0.08% | 1.09% | 0.51% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HDG and ATTR have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ATTR is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ATTR is cheaper with a 0.63% expense ratio, compared with 0.95% for HDG.
HDG has the higher dividend yield at 2.35%, compared with 0.00% for ATTR.
They also come from different issuers: ProShares and Arin Risk Advisors. Their fees differ too: 0.95% for HDG and 0.63% for ATTR.
Find the right allocation for HDG and ATTR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer