HGRO vs. RFDA

Last updated Jun 14, 2026

HGRO (Hedgeye Quality Growth ETF) and RFDA (RiverFront Dynamic US Dividend Advantage ETF) are both Large Cap Growth Equities funds. Both are actively managed. Over the past year, HGRO returned 24.70% vs 29.57% for RFDA. A 0.75 correlation means they provide meaningful diversification when combined. HGRO charges 0.70%/yr vs 0.52%/yr for RFDA.

Performance

HGRO vs. RFDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye Quality Growth ETF (HGRO) and RiverFront Dynamic US Dividend Advantage ETF (RFDA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HGRO achieves a 8.83% return, which is significantly lower than RFDA's 12.04% return.

HGRO

• 1D: 0.36%
• 1M: -2.28%
• YTD: 8.83%
• 6M: 9.05%
• 1Y: 24.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RFDA

• 1D: 0.70%
• 1M: 2.68%
• YTD: 12.04%
• 6M: 12.60%
• 1Y: 29.57%
• 3Y*: 18.55%
• 5Y*: 13.05%
• 10Y*: 13.50%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HGRO vs. RFDA - Yearly Performance Comparison

	2026 (YTD)	2025
HGRO Hedgeye Quality Growth ETF	8.83%	13.45%
RFDA RiverFront Dynamic US Dividend Advantage ETF	12.04%	14.44%

Correlation

The correlation between HGRO and RFDA is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025	0.75

The correlation between HGRO and RFDA has been stable across timeframes, ranging from 0.75 to 0.75 - a consistent structural relationship.

Return for Risk

HGRO vs. RFDA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HGRO

HGRO Risk / Return Rank: 58
HGRO Sharpe Ratio Rank: 56
HGRO Sortino Ratio Rank: 52
HGRO Omega Ratio Rank: 54
HGRO Calmar Ratio Rank: 68
HGRO Martin Ratio Rank: 62

RFDA

RFDA Risk / Return Rank: 87
RFDA Sharpe Ratio Rank: 85
RFDA Sortino Ratio Rank: 84
RFDA Omega Ratio Rank: 84
RFDA Calmar Ratio Rank: 91
RFDA Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HGRO vs. RFDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye Quality Growth ETF (HGRO) and RiverFront Dynamic US Dividend Advantage ETF (RFDA). 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.

	HGRO	RFDA	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.41	-0.69
Sortino ratio: Return per unit of downside risk	2.28	3.32	-1.03
Omega ratio: Gain probability vs. loss probability	1.30	1.44	-0.14
Calmar ratio: Return relative to maximum drawdown	3.06	5.19	-2.13
Martin ratio: Return relative to average drawdown	10.04	18.78	-8.74

HGRO vs. RFDA - Sharpe Ratio Comparison

The current HGRO Sharpe Ratio is 1.71, which is comparable to the RFDA Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of HGRO and RFDA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HGRO vs. RFDA - Drawdown Comparison

The maximum HGRO drawdown since its inception was -7.61%, smaller than the maximum RFDA drawdown of -34.60%. Use the drawdown chart below to compare losses from any high point for HGRO and RFDA.

Drawdown Indicators

	HGRO	RFDA	Difference
Max Drawdown Largest peak-to-trough decline	-7.61%	-34.60%	+26.99%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	-5.45%	-2.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.35%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.60%	—
Current Drawdown Current decline from peak	-2.80%	-0.55%	-2.25%
Average Drawdown Average peak-to-trough decline	-1.44%	-3.74%	+2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	1.50%	+0.81%

Volatility

HGRO vs. RFDA - Volatility Comparison

Hedgeye Quality Growth ETF (HGRO) has a higher volatility of 5.40% compared to RiverFront Dynamic US Dividend Advantage ETF (RFDA) at 3.29%. This indicates that HGRO's price experiences larger fluctuations and is considered to be riskier than RFDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HGRO	RFDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	3.29%	+2.11%
Volatility (6M) Calculated over the trailing 6-month period	10.47%	8.73%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	13.57%	11.73%	+1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.54%	15.75%	-2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.54%	16.85%	-3.31%

HGRO vs. RFDA - Expense Ratio Comparison

HGRO has a 0.70% expense ratio, which is higher than RFDA's 0.52% expense ratio.

Dividends

HGRO vs. RFDA - Dividend Comparison

HGRO's dividend yield for the trailing twelve months is around 0.07%, less than RFDA's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HGRO Hedgeye Quality Growth ETF	0.07%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RFDA RiverFront Dynamic US Dividend Advantage ETF	1.76%	1.89%	2.23%	2.68%	3.57%	1.44%	1.62%	1.87%	2.44%	1.90%	0.98%

Frequently Asked Questions

Can I hold both HGRO and RFDA in my portfolio?

HGRO and RFDA have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HGRO or RFDA?

HGRO has higher volatility (5.40%) compared to RFDA (3.29%). In terms of maximum drawdown, HGRO dropped -7.61% vs RFDA's -34.60%.

Which ETF is better, HGRO or RFDA?

On 1-year performance, RFDA leads with 29.57% vs 24.70% for HGRO. On fees, RFDA is cheaper at 0.52% per year. On volatility, RFDA has been the lower-risk option at 3.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HGRO or RFDA?

Over the 1-year period, RFDA has performed better with a 29.57% return vs 24.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HGRO or RFDA?

RFDA is cheaper with a 0.52% expense ratio, compared with 0.70% for HGRO.

Which ETF pays a higher dividend yield, HGRO or RFDA?

RFDA has the higher dividend yield at 1.76%, compared with 0.07% for HGRO.

What is the main difference between HGRO and RFDA?

They also come from different issuers: Hedgeye Asset Management and SS&C. Their fees differ too: 0.70% for HGRO and 0.52% for RFDA.

Which has better risk-adjusted returns?

RFDA currently has the higher Sharpe Ratio (2.41 vs 1.71), 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.