HDGE vs. PDI
HDGE (AdvisorShares Ranger Equity Bear ETF) is Inverse Equities fund actively managed by AdvisorShares, while PDI (PIMCO Dynamic Income Fund) is a stock. Over the past 10 years, HDGE returned -15.09%/yr vs 7.38%/yr for PDI. At a correlation of -0.32, they often move in opposite directions.
Performance
HDGE vs. PDI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HDGE achieves a -0.94% return, which is significantly lower than PDI's 1.19% return. Over the past 10 years, HDGE has underperformed PDI with an annualized return of -15.09%, while PDI has yielded a comparatively higher 7.38% annualized return.
HDGE
- 1D
- -1.00%
- 1M
- -3.41%
- 6M
- 0.38%
- YTD
- -0.94%
- 1Y
- -0.46%
- 3Y*
- -2.96%
- 5Y*
- -4.27%
- 10Y*
- -15.09%
PDI
- 1D
- -0.84%
- 1M
- 2.02%
- 6M
- -1.96%
- YTD
- 1.19%
- 1Y
- 0.09%
- 3Y*
- 9.85%
- 5Y*
- 2.95%
- 10Y*
- 7.38%
HDGE vs. PDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDGE AdvisorShares Ranger Equity Bear ETF | -0.94% | 1.50% | -8.01% | -26.98% | 16.59% | -18.61% | -43.47% | -36.27% | 7.53% | -15.24% |
PDI PIMCO Dynamic Income Fund | 1.19% | 11.03% | 17.18% | 11.99% | -16.99% | 7.81% | -9.96% | 22.23% | 7.35% | 18.59% |
Correlation
The correlation between HDGE and PDI is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.36 |
Correlation (All Time) Calculated using the full available price history since May 25, 2012 | -0.32 |
The correlation between HDGE and PDI shifts across timeframes, from -0.38 (5 years) to -0.26 (3 years), reflecting how their relationship changes across market environments.
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
HDGE vs. PDI — Risk / Return Rank
HDGE
PDI
HDGE vs. PDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Ranger Equity Bear ETF (HDGE) and PIMCO Dynamic Income Fund (PDI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HDGE | PDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.01 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 0.01 | -0.04 |
| Martin ratioReturn relative to average drawdown | -0.07 | 0.02 | -0.09 |
Loading charts...
Drawdowns
HDGE vs. PDI - Drawdown Comparison
The maximum HDGE drawdown since its inception was -93.88%, which is greater than PDI's maximum drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for HDGE and PDI.
Loading charts...
Drawdown Indicators
| HDGE | PDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.88% | -46.47% | -47.41% |
Max Drawdown (1Y)Largest decline over 1 year | -15.40% | -10.95% | -4.45% |
Max Drawdown (3Y)Largest decline over 3 years | -29.46% | -17.55% | -11.91% |
Max Drawdown (5Y)Largest decline over 5 years | -42.97% | -27.19% | -15.78% |
Max Drawdown (10Y)Largest decline over 10 years | -81.95% | -46.47% | -35.48% |
Current DrawdownCurrent decline from peak | -93.50% | -6.72% | -86.78% |
Average DrawdownAverage peak-to-trough decline | -70.25% | -6.22% | -64.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.50% | 5.45% | +1.05% |
Volatility
HDGE vs. PDI - Volatility Comparison
AdvisorShares Ranger Equity Bear ETF (HDGE) has a higher volatility of 6.16% compared to PIMCO Dynamic Income Fund (PDI) at 2.89%. This indicates that HDGE's price experiences larger fluctuations and is considered to be riskier than PDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HDGE | PDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.16% | 2.89% | +3.27% |
Volatility (6M)Calculated over the trailing 6-month period | 13.77% | 8.45% | +5.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.49% | 11.55% | +6.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.26% | 15.57% | +8.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.45% | 19.05% | +4.40% |
Dividends
HDGE vs. PDI - Dividend Comparison
HDGE's dividend yield for the trailing twelve months is around 3.53%, less than PDI's 16.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDGE AdvisorShares Ranger Equity Bear ETF | 3.53% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% |
PDI PIMCO Dynamic Income Fund | 16.13% | 14.94% | 14.43% | 14.74% | 17.84% | 10.21% | 10.01% | 9.45% | 10.78% | 8.81% | 14.79% | 18.70% |
Frequently Asked Questions
HDGE and PDI have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDGE has higher volatility (6.16%) compared to PDI (2.89%). In terms of maximum drawdown, HDGE dropped -93.88% vs PDI's -46.47%.
PDI currently has the higher Sharpe Ratio (0.01 vs -0.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for HDGE and PDI
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