HDGE vs. YXI
HDGE (AdvisorShares Ranger Equity Bear ETF) and YXI (ProShares Short FTSE China 50) are both Inverse Equities funds. HDGE is actively managed, while YXI is passively managed. Over the past 10 years, HDGE returned -14.77%/yr vs -8.25%/yr for YXI. At a 0.49 correlation, their price movements are largely independent. HDGE charges 3.36%/yr vs 0.95%/yr for YXI.
Performance
HDGE vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, HDGE achieves a 5.43% return, which is significantly lower than YXI's 8.21% return. Over the past 10 years, HDGE has underperformed YXI with an annualized return of -14.77%, while YXI has yielded a comparatively higher -8.25% annualized 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%
YXI
- 1D
- 1.95%
- 1M
- 2.80%
- YTD
- 8.21%
- 6M
- 9.88%
- 1Y
- 0.05%
- 3Y*
- -11.68%
- 5Y*
- -2.65%
- 10Y*
- -8.25%
HDGE vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDGE AdvisorShares Ranger Equity Bear ETF | 5.43% | 1.50% | -8.01% | -26.98% | 16.59% | -18.61% | -43.47% | -36.27% | 7.53% | -15.24% |
YXI ProShares Short FTSE China 50 | 8.21% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between HDGE and YXI is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jan 28, 2011 | 0.49 |
Over the past year, the correlation between HDGE and YXI has dropped to 0.29 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
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Return for Risk
HDGE vs. YXI — Risk / Return Rank
HDGE
YXI
HDGE vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Ranger Equity Bear ETF (HDGE) and ProShares Short FTSE China 50 (YXI). 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 | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.02 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.00 | -0.06 |
| Martin ratioReturn relative to average drawdown | -0.11 | 0.01 | -0.11 |
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 | YXI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.04 | 0.00 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | -0.08 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.63 | -0.30 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.67 | -0.30 | -0.37 |
Drawdowns
HDGE vs. YXI - Drawdown Comparison
The maximum HDGE drawdown since its inception was -93.88%, which is greater than YXI's maximum drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for HDGE and YXI.
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Drawdown Indicators
| HDGE | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.88% | -81.15% | -12.73% |
Max Drawdown (1Y)Largest decline over 1 year | -12.26% | -14.21% | +1.95% |
Max Drawdown (3Y)Largest decline over 3 years | -29.46% | -53.12% | +23.66% |
Max Drawdown (5Y)Largest decline over 5 years | -42.97% | -57.65% | +14.68% |
Max Drawdown (10Y)Largest decline over 10 years | -83.69% | -64.92% | -18.77% |
Current DrawdownCurrent decline from peak | -93.08% | -77.90% | -15.18% |
Average DrawdownAverage peak-to-trough decline | -70.11% | -54.31% | -15.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.16% | 8.18% | -2.02% |
Volatility
HDGE vs. YXI - Volatility Comparison
The current volatility for AdvisorShares Ranger Equity Bear ETF (HDGE) is 6.41%, while ProShares Short FTSE China 50 (YXI) has a volatility of 7.21%. This indicates that HDGE experiences smaller price fluctuations and is considered to be less risky than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDGE | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.41% | 7.21% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 12.81% | 14.86% | -2.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.33% | 19.97% | -1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.18% | 31.40% | -7.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.56% | 27.42% | -3.86% |
HDGE vs. YXI - Expense Ratio Comparison
HDGE has a 3.36% expense ratio, which is higher than YXI's 0.95% expense ratio.
Dividends
HDGE vs. YXI - Dividend Comparison
HDGE's dividend yield for the trailing twelve months is around 3.32%, more than YXI's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HDGE AdvisorShares Ranger Equity Bear ETF | 3.32% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% | 0.00% |
YXI ProShares Short FTSE China 50 | 2.84% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% |
Frequently Asked Questions
HDGE and YXI have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YXI has higher volatility (7.21%) compared to HDGE (6.41%). In terms of maximum drawdown, HDGE dropped -93.88% vs YXI's -81.15%.
On 10-year performance, YXI leads with -8.25% vs -14.77% for HDGE. On fees, YXI is cheaper at 0.95% per year. On volatility, HDGE has been the lower-risk option at 6.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YXI has performed better with a -8.25% return vs -14.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YXI is cheaper with a 0.95% expense ratio, compared with 3.36% for HDGE.
HDGE has the higher dividend yield at 3.32%, compared with 2.84% for YXI.
They also come from different issuers: AdvisorShares and ProShares. Their fees differ too: 3.36% for HDGE and 0.95% for YXI.
YXI currently has the higher Sharpe Ratio (0.00 vs -0.04), 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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