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 -15.09%/yr vs -7.09%/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 -0.94% return, which is significantly lower than YXI's 14.77% return. Over the past 10 years, HDGE has underperformed YXI with an annualized return of -15.09%, while YXI has yielded a comparatively higher -7.09% 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%
YXI
- 1D
- 0.36%
- 1M
- 4.81%
- 6M
- 21.88%
- YTD
- 14.77%
- 1Y
- 9.36%
- 3Y*
- -8.77%
- 5Y*
- -2.35%
- 10Y*
- -7.09%
HDGE vs. YXI - 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% |
YXI ProShares Short FTSE China 50 | 14.77% | -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 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 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 0.26 - 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 | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.09 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 0.83 | -0.86 |
| Martin ratioReturn relative to average drawdown | -0.07 | 1.66 | -1.73 |
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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 | -15.40% | -11.39% | -4.01% |
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 | -81.95% | -61.79% | -20.16% |
Current DrawdownCurrent decline from peak | -93.50% | -76.57% | -16.93% |
Average DrawdownAverage peak-to-trough decline | -70.25% | -54.43% | -15.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.50% | 6.14% | +0.36% |
Volatility
HDGE vs. YXI - Volatility Comparison
The current volatility for AdvisorShares Ranger Equity Bear ETF (HDGE) is 6.16%, while ProShares Short FTSE China 50 (YXI) has a volatility of 7.41%. 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 | 6.16% | 7.41% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 13.77% | 15.74% | -1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.49% | 20.65% | -2.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.26% | 31.47% | -7.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.45% | 27.44% | -3.99% |
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 3.53%, more than YXI's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HDGE AdvisorShares Ranger Equity Bear ETF | 3.53% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% | 0.00% |
YXI ProShares Short FTSE China 50 | 2.48% | 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 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YXI has higher volatility (7.41%) compared to HDGE (6.16%). In terms of maximum drawdown, HDGE dropped -93.88% vs YXI's -81.15%.
On 10-year performance, YXI leads with -7.09% vs -15.09% for HDGE. On fees, YXI is cheaper at 0.95% per year. On volatility, HDGE has been the lower-risk option at 6.16%. 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 -7.09% return vs -15.09%. 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 3.53%, compared with 2.48% 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 (0.46 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.
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