HDGE vs. YXI
HDGE (AdvisorShares Ranger Equity Bear ETF) and YXI (ProShares Short FTSE China 50) are both exchange-traded funds - HDGE is a Inverse Equities fund actively managed by AdvisorShares, while YXI is a China Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-100%). HDGE is actively managed, while YXI is passively managed. Over the past 10 years, HDGE returned -15.33%/yr vs -7.76%/yr for YXI. Their 0.49 correlation means their historical movements had little consistent relationship. 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 -7.47% return, which is significantly lower than YXI's 5.02% return. Over the past 10 years, HDGE has underperformed YXI with an annualized return of -15.33%, while YXI has yielded a comparatively higher -7.76% annualized return.
HDGE
- 1D
- -2.03%
- 1M
- -7.18%
- 6M
- -9.45%
- YTD
- -7.47%
- 1Y
- -11.50%
- 3Y*
- -4.40%
- 5Y*
- -5.88%
- 10Y*
- -15.33%
- ALL TIME*
- -15.58%
YXI
- 1D
- 0.03%
- 1M
- -12.89%
- 6M
- 7.44%
- YTD
- 5.02%
- 1Y
- 0.81%
- 3Y*
- -10.48%
- 5Y*
- -5.16%
- 10Y*
- -7.76%
- ALL TIME*
- -8.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.39M | $1.04M | $1.07M | |
| $23.42K | $29.48K | $33.89K |
HDGE vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDGE AdvisorShares Ranger Equity Bear ETF | -7.47% | 1.50% | -8.01% | -26.98% | 16.59% | -18.61% | -43.47% | -36.27% | 7.53% | -15.24% |
YXI ProShares Short FTSE China 50 | 5.02% | -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 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2011 | 0.49 |
Over the past year, the correlation between HDGE and YXI has dropped to 0.28 - 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.
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 | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.02 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 0.06 | -0.63 |
| Martin ratioReturn relative to average drawdown | -1.56 | 0.16 | -1.71 |
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Drawdowns
HDGE vs. YXI - Drawdown Comparison
The maximum HDGE drawdown since its inception was -93.98%, 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 | -93.98% | -81.15% | -12.83% |
Max Drawdown (1Y)Largest decline over 1 year | -20.34% | -13.55% | -6.79% |
Max Drawdown (3Y)Largest decline over 3 years | -30.63% | -53.12% | +22.49% |
Max Drawdown (5Y)Largest decline over 5 years | -43.92% | -57.65% | +13.73% |
Max Drawdown (10Y)Largest decline over 10 years | -82.25% | -61.63% | -20.62% |
Current DrawdownCurrent decline from peak | -93.92% | -78.56% | -15.36% |
Average DrawdownAverage peak-to-trough decline | -70.34% | -54.52% | -15.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.55% | 6.14% | +1.41% |
Volatility
HDGE vs. YXI - Volatility Comparison
AdvisorShares Ranger Equity Bear ETF (HDGE) has a higher volatility of 8.15% compared to ProShares Short FTSE China 50 (YXI) at 6.94%. This indicates that HDGE's price experiences larger fluctuations and is considered to be riskier 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 | 8.15% | 6.94% | +1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 15.22% | 15.88% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.33% | 21.12% | -1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.42% | 31.29% | -6.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.54% | 27.48% | -3.94% |
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 3.78%, more than YXI's 2.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HDGE AdvisorShares Ranger Equity Bear ETF | 3.78% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% | 0.00% |
YXI ProShares Short FTSE China 50 | 2.71% | 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 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDGE has higher volatility (8.15%) compared to YXI (6.94%). In terms of maximum drawdown, HDGE dropped -93.98% vs YXI's -81.15%.
On 10-year performance, YXI leads with -7.76% vs -15.33% for HDGE. On fees, YXI is cheaper at 0.95% per year. On volatility, YXI has been the lower-risk option at 6.94%. 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 -7.76% return vs -15.33%. 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 3.78%, compared with 2.71% for YXI.
HDGE is categorized as Inverse Equities, while YXI is China Equities. 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 (0.04 vs -0.60), 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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