HDGE vs. YQQQ
HDGE (AdvisorShares Ranger Equity Bear ETF) and YQQQ (YieldMax Short N100 Option Income Strategy ETF) are both exchange-traded funds - HDGE is a Inverse Equities fund actively managed by AdvisorShares, while YQQQ is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, HDGE returned -0.65% vs -14.25% for YQQQ. A 0.52 correlation means they provide meaningful diversification when combined. HDGE charges 3.36%/yr vs 0.99%/yr for YQQQ.
Performance
HDGE vs. YQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, HDGE achieves a 5.43% return, which is significantly higher than YQQQ's -8.94% return.
HDGE
- 1D
- 2.55%
- 1M
- -2.09%
- YTD
- 5.43%
- 6M
- 5.59%
- 1Y
- -0.65%
- 3Y*
- -5.06%
- 5Y*
- -2.89%
- 10Y*
- -14.77%
YQQQ
- 1D
- 0.06%
- 1M
- -7.64%
- YTD
- -8.94%
- 6M
- -6.62%
- 1Y
- -14.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HDGE vs. YQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HDGE AdvisorShares Ranger Equity Bear ETF | 5.43% | 1.50% | -8.10% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | -8.94% | -9.97% | -4.06% |
Correlation
The correlation between HDGE and YQQQ is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2024 | 0.52 |
The correlation between HDGE and YQQQ has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.
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Return for Risk
HDGE vs. YQQQ — Risk / Return Rank
HDGE
YQQQ
HDGE vs. YQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Ranger Equity Bear ETF (HDGE) and YieldMax Short N100 Option Income Strategy ETF (YQQQ). 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.
| HDGE | YQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.83 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | -0.69 | +0.63 |
| Martin ratioReturn relative to average drawdown | -0.11 | -1.68 | +1.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HDGE | YQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.04 | -1.14 | +1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.67 | -0.77 | +0.10 |
Drawdowns
HDGE vs. YQQQ - Drawdown Comparison
The maximum HDGE drawdown since its inception was -93.88%, which is greater than YQQQ's maximum drawdown of -28.21%. Use the drawdown chart below to compare losses from any high point for HDGE and YQQQ.
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Drawdown Indicators
| HDGE | YQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.88% | -28.21% | -65.67% |
Max Drawdown (1Y)Largest decline over 1 year | -12.26% | -20.82% | +8.56% |
Max Drawdown (3Y)Largest decline over 3 years | -29.46% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -42.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -83.69% | — | — |
Current DrawdownCurrent decline from peak | -93.08% | -28.17% | -64.91% |
Average DrawdownAverage peak-to-trough decline | -70.11% | -14.22% | -55.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.16% | 8.52% | -2.36% |
Volatility
HDGE vs. YQQQ - Volatility Comparison
AdvisorShares Ranger Equity Bear ETF (HDGE) has a higher volatility of 6.41% compared to YieldMax Short N100 Option Income Strategy ETF (YQQQ) at 3.90%. This indicates that HDGE's price experiences larger fluctuations and is considered to be riskier than YQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDGE | YQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.41% | 3.90% | +2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 12.81% | 9.87% | +2.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.33% | 12.51% | +5.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.18% | 16.26% | +7.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.56% | 16.26% | +7.30% |
HDGE vs. YQQQ - Expense Ratio Comparison
HDGE has a 3.36% expense ratio, which is higher than YQQQ's 0.99% expense ratio.
Dividends
HDGE vs. YQQQ - Dividend Comparison
HDGE's dividend yield for the trailing twelve months is around 3.32%, less than YQQQ's 31.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HDGE AdvisorShares Ranger Equity Bear ETF | 3.32% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% |
YQQQ YieldMax Short N100 Option Income Strategy ETF | 31.75% | 31.71% | 7.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HDGE and YQQQ have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDGE has higher volatility (6.41%) compared to YQQQ (3.90%). In terms of maximum drawdown, HDGE dropped -93.88% vs YQQQ's -28.21%.
On 1-year performance, HDGE leads with -0.65% vs -14.25% for YQQQ. On fees, YQQQ is cheaper at 0.99% per year. On volatility, YQQQ has been the lower-risk option at 3.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HDGE has performed better with a -0.65% return vs -14.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YQQQ is cheaper with a 0.99% expense ratio, compared with 3.36% for HDGE.
YQQQ has the higher dividend yield at 31.75%, compared with 3.32% for HDGE.
HDGE is categorized as Inverse Equities, while YQQQ is Derivative Income. They also come from different issuers: AdvisorShares and YieldMax. Their fees differ too: 3.36% for HDGE and 0.99% for YQQQ.
HDGE currently has the higher Sharpe Ratio (-0.04 vs -1.14), 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.
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