HDG vs. GLD
Compare and contrast key facts about ProShares Hedge Replication (HDG) and SPDR Gold Trust (GLD).
HDG and GLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HDG is a passively managed fund by ProShares that tracks the performance of the Merrill Lynch Factor Model - Exchange Series. It was launched on Jul 12, 2011. GLD is a passively managed fund by State Street that tracks the performance of the Gold Bullion. It was launched on Nov 18, 2004. Both HDG and GLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HDG or GLD.
Correlation
The correlation between HDG and GLD is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
HDG vs. GLD - Performance Comparison
Key characteristics
HDG:
1.40
GLD:
2.27
HDG:
1.98
GLD:
2.95
HDG:
1.26
GLD:
1.39
HDG:
1.26
GLD:
4.20
HDG:
9.29
GLD:
11.37
HDG:
0.79%
GLD:
3.00%
HDG:
5.23%
GLD:
15.04%
HDG:
-15.31%
GLD:
-45.56%
HDG:
-0.72%
GLD:
-3.20%
Returns By Period
In the year-to-date period, HDG achieves a 0.59% return, which is significantly lower than GLD's 2.95% return. Over the past 10 years, HDG has underperformed GLD with an annualized return of 2.55%, while GLD has yielded a comparatively higher 7.24% annualized return.
HDG
0.59%
0.83%
1.59%
7.19%
2.61%
2.55%
GLD
2.95%
2.96%
12.39%
32.64%
11.22%
7.24%
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HDG vs. GLD - Expense Ratio Comparison
HDG has a 0.95% expense ratio, which is higher than GLD's 0.40% expense ratio.
Risk-Adjusted Performance
HDG vs. GLD — Risk-Adjusted Performance Rank
HDG
GLD
HDG vs. GLD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Hedge Replication (HDG) and SPDR Gold Trust (GLD). 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.
Dividends
HDG vs. GLD - Dividend Comparison
HDG's dividend yield for the trailing twelve months is around 3.48%, while GLD has not paid dividends to shareholders.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
HDG ProShares Hedge Replication | 3.48% | 3.50% | 3.48% | 0.39% | 0.00% | 0.08% | 1.09% | 0.52% | 0.00% | 0.00% | 0.00% |
GLD SPDR Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HDG vs. GLD - Drawdown Comparison
The maximum HDG drawdown since its inception was -15.31%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for HDG and GLD. For additional features, visit the drawdowns tool.
Volatility
HDG vs. GLD - Volatility Comparison
The current volatility for ProShares Hedge Replication (HDG) is 1.36%, while SPDR Gold Trust (GLD) has a volatility of 3.71%. This indicates that HDG experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.