HTUS vs. HDG
HTUS (Hull Tactical US ETF) and HDG (ProShares Hedge Replication) are both Long-Short funds. HTUS is actively managed, while HDG is passively managed. Over the past 10 years, HTUS returned 12.20%/yr vs 4.11%/yr for HDG. A 0.57 correlation means they provide meaningful diversification when combined. HTUS charges 0.97%/yr vs 0.95%/yr for HDG.
Performance
HTUS vs. HDG - Performance Comparison
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Returns By Period
In the year-to-date period, HTUS achieves a 8.95% return, which is significantly higher than HDG's 6.59% return. Over the past 10 years, HTUS has outperformed HDG with an annualized return of 12.20%, while HDG has yielded a comparatively lower 4.11% annualized return.
HTUS
- 1D
- -1.20%
- 1M
- -0.99%
- YTD
- 8.95%
- 6M
- 8.55%
- 1Y
- 24.12%
- 3Y*
- 20.35%
- 5Y*
- 14.66%
- 10Y*
- 12.20%
HDG
- 1D
- -0.88%
- 1M
- 1.11%
- YTD
- 6.59%
- 6M
- 6.37%
- 1Y
- 13.31%
- 3Y*
- 7.67%
- 5Y*
- 2.93%
- 10Y*
- 4.11%
HTUS vs. HDG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HTUS Hull Tactical US ETF | 8.95% | 16.57% | 25.02% | 30.11% | -13.00% | 24.29% | 13.21% | 20.27% | -10.04% | 14.19% |
HDG ProShares Hedge Replication | 6.59% | 7.18% | 5.12% | 7.14% | -8.48% | 2.97% | 7.45% | 9.58% | -4.52% | 5.59% |
Correlation
The correlation between HTUS and HDG is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2015 | 0.57 |
Over the past year, HTUS and HDG have become more correlated (0.80) than their long-term average of 0.57, meaning their price movements have been converging.
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Return for Risk
HTUS vs. HDG — Risk / Return Rank
HTUS
HDG
HTUS vs. HDG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hull Tactical US ETF (HTUS) and ProShares Hedge Replication (HDG). 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.
| HTUS | HDG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.42 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 3.37 | -0.58 |
| Martin ratioReturn relative to average drawdown | 13.82 | 13.61 | +0.21 |
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Drawdowns
HTUS vs. HDG - Drawdown Comparison
The maximum HTUS drawdown since its inception was -47.50%, which is greater than HDG's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for HTUS and HDG.
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Drawdown Indicators
| HTUS | HDG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.50% | -15.31% | -32.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.68% | -3.97% | -4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -24.41% | -7.20% | -17.21% |
Max Drawdown (5Y)Largest decline over 5 years | -24.41% | -15.31% | -9.10% |
Max Drawdown (10Y)Largest decline over 10 years | -47.50% | -15.31% | -32.19% |
Current DrawdownCurrent decline from peak | -2.67% | -1.13% | -1.54% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -2.76% | -1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 0.98% | +0.77% |
Volatility
HTUS vs. HDG - Volatility Comparison
Hull Tactical US ETF (HTUS) has a higher volatility of 4.02% compared to ProShares Hedge Replication (HDG) at 3.01%. This indicates that HTUS's price experiences larger fluctuations and is considered to be riskier than HDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HTUS | HDG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 3.01% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 10.00% | 5.32% | +4.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.04% | 6.24% | +5.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.09% | 7.24% | +11.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.49% | 7.12% | +14.37% |
HTUS vs. HDG - Expense Ratio Comparison
HTUS has a 0.97% expense ratio, which is higher than HDG's 0.95% expense ratio.
Dividends
HTUS vs. HDG - Dividend Comparison
HTUS's dividend yield for the trailing twelve months is around 10.91%, more than HDG's 2.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDG ProShares Hedge Replication | 2.35% | 2.55% | 3.50% | 3.48% | 0.39% | 0.00% | 0.08% | 1.09% | 0.51% | 0.00% | 0.00% | 0.00% |
HTUS Hull Tactical US ETF | 10.91% | 11.89% | 17.80% | 1.18% | 5.63% | 7.20% | 3.77% | 0.92% | 8.69% | 8.29% | 3.02% | 0.00% |
Frequently Asked Questions
HTUS and HDG have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HTUS has higher volatility (4.02%) compared to HDG (3.01%). In terms of maximum drawdown, HTUS dropped -47.50% vs HDG's -15.31%.
On 10-year performance, HTUS leads with 12.20% vs 4.11% for HDG. On fees, HDG is cheaper at 0.95% per year. On volatility, HDG has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HTUS has performed better with a 12.20% return vs 4.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HDG is cheaper with a 0.95% expense ratio, compared with 0.97% for HTUS.
HTUS has the higher dividend yield at 10.91%, compared with 2.35% for HDG.
They also come from different issuers: Exchange Traded Concepts and ProShares. Their fees differ too: 0.97% for HTUS and 0.95% for HDG.
HDG currently has the higher Sharpe Ratio (2.14 vs 2.02), 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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