HDGE vs. RISR

Last updated Jun 23, 2026

HDGE (AdvisorShares Ranger Equity Bear ETF) and RISR (FolioBeyond Alternative Income and Interest Rate Hedge ETF) are both exchange-traded funds - HDGE is a Inverse Equities fund actively managed by AdvisorShares, while RISR is a Nontraditional Bonds fund actively managed by FolioBeyond. Both are actively managed. Over the past 3 years, HDGE returned -3.91%/yr vs 11.28%/yr for RISR. At a 0.09 correlation, their price movements are largely independent. HDGE charges 3.36%/yr vs 1.13%/yr for RISR.

Performance

HDGE vs. RISR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares Ranger Equity Bear ETF (HDGE) and FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDGE achieves a 6.62% return, which is significantly higher than RISR's 2.99% return.

HDGE

• 1D: 0.83%
• 1M: 0.59%
• YTD: 6.62%
• 6M: 8.10%
• 1Y: 1.33%
• 3Y*: -3.91%
• 5Y*: -2.09%
• 10Y*: -15.15%

RISR

• 1D: 0.22%
• 1M: 0.01%
• YTD: 2.99%
• 6M: 3.27%
• 1Y: 5.10%
• 3Y*: 11.28%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HDGE vs. RISR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HDGE AdvisorShares Ranger Equity Bear ETF	6.62%	1.50%	-8.01%	-26.98%	16.59%	-4.08%
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	2.99%	4.63%	24.20%	7.02%	31.98%	-0.04%

Correlation

The correlation between HDGE and RISR is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.09

Return for Risk

HDGE vs. RISR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HDGE

HDGE Risk / Return Rank: 9
HDGE Sharpe Ratio Rank: 9
HDGE Sortino Ratio Rank: 9
HDGE Omega Ratio Rank: 9
HDGE Calmar Ratio Rank: 9
HDGE Martin Ratio Rank: 9

RISR

RISR Risk / Return Rank: 30
RISR Sharpe Ratio Rank: 27
RISR Sortino Ratio Rank: 26
RISR Omega Ratio Rank: 25
RISR Calmar Ratio Rank: 40
RISR Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HDGE vs. RISR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Ranger Equity Bear ETF (HDGE) and FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR). 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	RISR	Difference
Sharpe ratio: Return per unit of total volatility	0.07	0.95	-0.88
Sortino ratio: Return per unit of downside risk	0.23	1.38	-1.14
Omega ratio: Gain probability vs. loss probability	1.03	1.17	-0.14
Calmar ratio: Return relative to maximum drawdown	0.11	1.96	-1.85
Martin ratio: Return relative to average drawdown	0.22	4.64	-4.42

HDGE vs. RISR - Sharpe Ratio Comparison

The current HDGE Sharpe Ratio is 0.07, which is lower than the RISR Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of HDGE and RISR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HDGE vs. RISR - Drawdown Comparison

The maximum HDGE drawdown since its inception was -93.88%, which is greater than RISR's maximum drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for HDGE and RISR.

Drawdown Indicators

	HDGE	RISR	Difference
Max Drawdown Largest peak-to-trough decline	-93.88%	-14.31%	-79.57%
Max Drawdown (1Y) Largest decline over 1 year	-12.26%	-2.61%	-9.65%
Max Drawdown (3Y) Largest decline over 3 years	-29.46%	-8.07%	-21.39%
Max Drawdown (5Y) Largest decline over 5 years	-42.97%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-83.69%	—	—
Current Drawdown Current decline from peak	-93.00%	-0.51%	-92.49%
Average Drawdown Average peak-to-trough decline	-70.17%	-2.17%	-68.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	1.10%	+5.10%

Volatility

HDGE vs. RISR - Volatility Comparison

AdvisorShares Ranger Equity Bear ETF (HDGE) has a higher volatility of 5.83% compared to FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) at 1.23%. This indicates that HDGE's price experiences larger fluctuations and is considered to be riskier than RISR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDGE	RISR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	1.23%	+4.60%
Volatility (6M) Calculated over the trailing 6-month period	12.97%	3.95%	+9.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.36%	5.40%	+12.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.20%	11.79%	+12.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.56%	11.79%	+11.77%

HDGE vs. RISR - Expense Ratio Comparison

HDGE has a 3.36% expense ratio, which is higher than RISR's 1.13% expense ratio.

Dividends

HDGE vs. RISR - Dividend Comparison

HDGE's dividend yield for the trailing twelve months is around 3.28%, less than RISR's 5.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HDGE AdvisorShares Ranger Equity Bear ETF	3.28%	3.50%	7.83%	9.58%	0.00%	0.00%	0.00%	0.22%
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	5.92%	5.95%	5.67%	7.96%	4.26%	0.30%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HDGE and RISR in my portfolio?

HDGE and RISR have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDGE or RISR?

HDGE has higher volatility (5.83%) compared to RISR (1.23%). In terms of maximum drawdown, HDGE dropped -93.88% vs RISR's -14.31%.

Which ETF is better, HDGE or RISR?

On 3-year performance, RISR leads with 11.28% vs -3.91% for HDGE. On fees, RISR is cheaper at 1.13% per year. On volatility, RISR has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HDGE or RISR?

Over the 3-year period, RISR has performed better with a 11.28% return vs -3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HDGE or RISR?

RISR is cheaper with a 1.13% expense ratio, compared with 3.36% for HDGE.

Which ETF pays a higher dividend yield, HDGE or RISR?

RISR has the higher dividend yield at 5.92%, compared with 3.28% for HDGE.

What is the main difference between HDGE and RISR?

HDGE is categorized as Inverse Equities, while RISR is Nontraditional Bonds. They also come from different issuers: AdvisorShares and FolioBeyond. Their fees differ too: 3.36% for HDGE and 1.13% for RISR.

Which has better risk-adjusted returns?

RISR currently has the higher Sharpe Ratio (0.95 vs 0.07), 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.