HDG vs. QQQ
Compare and contrast key facts about ProShares Hedge Replication (HDG) and Invesco QQQ (QQQ).
HDG and QQQ 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. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999. Both HDG and QQQ 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 QQQ.
Correlation
The correlation between HDG and QQQ is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
HDG vs. QQQ - Performance Comparison
Key characteristics
HDG:
1.07
QQQ:
1.64
HDG:
1.53
QQQ:
2.19
HDG:
1.20
QQQ:
1.30
HDG:
0.96
QQQ:
2.16
HDG:
7.13
QQQ:
7.79
HDG:
0.80%
QQQ:
3.76%
HDG:
5.31%
QQQ:
17.85%
HDG:
-15.31%
QQQ:
-82.98%
HDG:
-1.52%
QQQ:
-3.63%
Returns By Period
In the year-to-date period, HDG achieves a 4.88% return, which is significantly lower than QQQ's 27.20% return. Over the past 10 years, HDG has underperformed QQQ with an annualized return of 2.51%, while QQQ has yielded a comparatively higher 18.36% annualized return.
HDG
4.88%
-0.66%
3.10%
5.24%
2.64%
2.51%
QQQ
27.20%
3.08%
8.34%
27.81%
20.44%
18.36%
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HDG vs. QQQ - Expense Ratio Comparison
HDG has a 0.95% expense ratio, which is higher than QQQ's 0.20% expense ratio.
Risk-Adjusted Performance
HDG vs. QQQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Hedge Replication (HDG) and Invesco QQQ (QQQ). 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. QQQ - Dividend Comparison
HDG's dividend yield for the trailing twelve months is around 2.46%, more than QQQ's 0.43% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDG ProShares Hedge Replication | 2.46% | 3.48% | 0.39% | 0.00% | 0.08% | 1.09% | 0.52% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ | 0.43% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% | 1.41% | 1.02% |
Drawdowns
HDG vs. QQQ - Drawdown Comparison
The maximum HDG drawdown since its inception was -15.31%, smaller than the maximum QQQ drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for HDG and QQQ. For additional features, visit the drawdowns tool.
Volatility
HDG vs. QQQ - Volatility Comparison
The current volatility for ProShares Hedge Replication (HDG) is 1.24%, while Invesco QQQ (QQQ) has a volatility of 5.29%. This indicates that HDG experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.