HEGD vs. VAMO
Compare and contrast key facts about Swan Hedged Equity US Large Cap ETF (HEGD) and Cambria Value and Momentum ETF (VAMO).
HEGD and VAMO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HEGD is a passively managed fund by Swan that tracks the performance of the S&P 500. It was launched on Dec 22, 2020. VAMO is an actively managed fund by Cambria. It was launched on Sep 8, 2015.
Performance
HEGD vs. VAMO - Performance Comparison
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HEGD vs. VAMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HEGD Swan Hedged Equity US Large Cap ETF | -1.73% | 12.95% | 15.24% | 14.16% | -11.25% | 17.30% | 0.99% |
VAMO Cambria Value and Momentum ETF | 3.84% | 16.51% | 6.11% | 5.58% | 8.55% | 32.16% | -2.61% |
Returns By Period
In the year-to-date period, HEGD achieves a -1.73% return, which is significantly lower than VAMO's 3.84% return.
HEGD
- 1D
- 0.30%
- 1M
- -2.38%
- YTD
- -1.73%
- 6M
- -0.47%
- 1Y
- 13.14%
- 3Y*
- 12.52%
- 5Y*
- 7.98%
- 10Y*
- —
VAMO
- 1D
- -0.28%
- 1M
- 0.18%
- YTD
- 3.84%
- 6M
- 6.46%
- 1Y
- 22.03%
- 3Y*
- 13.40%
- 5Y*
- 9.57%
- 10Y*
- 5.47%
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HEGD vs. VAMO - Expense Ratio Comparison
HEGD has a 0.88% expense ratio, which is higher than VAMO's 0.65% expense ratio.
Return for Risk
HEGD vs. VAMO — Risk / Return Rank
HEGD
VAMO
HEGD vs. VAMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Swan Hedged Equity US Large Cap ETF (HEGD) and Cambria Value and Momentum ETF (VAMO). 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.
| HEGD | VAMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.65 | 1.94 | -0.29 |
Sortino ratioReturn per unit of downside risk | 2.47 | 2.80 | -0.33 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.34 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 3.08 | 4.00 | -0.91 |
Martin ratioReturn relative to average drawdown | 11.89 | 13.00 | -1.11 |
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
| HEGD | VAMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 1.94 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.54 | +0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 0.25 | +0.66 |
Correlation
The correlation between HEGD and VAMO is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HEGD vs. VAMO - Dividend Comparison
HEGD's dividend yield for the trailing twelve months is around 0.36%, less than VAMO's 0.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEGD Swan Hedged Equity US Large Cap ETF | 0.36% | 0.36% | 0.43% | 0.39% | 0.87% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VAMO Cambria Value and Momentum ETF | 0.63% | 1.41% | 0.84% | 1.35% | 1.10% | 1.07% | 1.03% | 1.15% | 1.03% | 0.35% | 0.56% | 0.20% |
Drawdowns
HEGD vs. VAMO - Drawdown Comparison
The maximum HEGD drawdown since its inception was -14.56%, smaller than the maximum VAMO drawdown of -41.84%. Use the drawdown chart below to compare losses from any high point for HEGD and VAMO.
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Drawdown Indicators
| HEGD | VAMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.56% | -41.84% | +27.28% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -5.55% | +1.16% |
Max Drawdown (5Y)Largest decline over 5 years | -14.56% | -17.25% | +2.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.84% | — |
Current DrawdownCurrent decline from peak | -3.15% | -2.11% | -1.04% |
Average DrawdownAverage peak-to-trough decline | -3.76% | -10.10% | +6.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.71% | -0.57% |
Volatility
HEGD vs. VAMO - Volatility Comparison
The current volatility for Swan Hedged Equity US Large Cap ETF (HEGD) is 2.21%, while Cambria Value and Momentum ETF (VAMO) has a volatility of 2.97%. This indicates that HEGD experiences smaller price fluctuations and is considered to be less risky than VAMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEGD | VAMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.21% | 2.97% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 8.76% | -3.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.00% | 11.39% | -3.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.41% | 17.89% | -8.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.40% | 18.08% | -8.68% |