MRSK vs. HEDG

Last updated Aug 4, 2026

MRSK (Agility Shares Managed Risk ETF) and HEDG (Equable Shares Hedged Equity ETF) are both Equity Hedged funds. MRSK is actively managed, while HEDG is passively managed. Their 0.71 correlation means they have sometimes moved together and sometimes differently. MRSK charges 0.99%/yr vs 0.96%/yr for HEDG.

Performance

MRSK vs. HEDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Agility Shares Managed Risk ETF (MRSK) and Equable Shares Hedged Equity ETF (HEDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MRSK achieves a 6.64% return, which is significantly higher than HEDG's 4.64% return.

MRSK

• 1D: 0.81%
• 1M: 1.48%
• 6M: 5.13%
• YTD: 6.64%
• 1Y: 17.03%
• 3Y*: 11.11%
• 5Y*: 7.63%
• 10Y*: —
• ALL TIME*: 11.15%

HEDG

• 1D: 0.50%
• 1M: 1.30%
• 6M: 3.46%
• YTD: 4.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HEDG Equable Shares Hedged Equity ETF	$885.06K	$870.54K	$1.20M
MRSK Agility Shares Managed Risk ETF	$835.57K	$1.53M	$1.06M

MRSK vs. HEDG - Yearly Performance Comparison

	2026 (YTD)	2025
MRSK Agility Shares Managed Risk ETF	6.64%	4.49%
HEDG Equable Shares Hedged Equity ETF	4.64%	3.20%

Correlation

The correlation between MRSK and HEDG is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 13, 2025	0.71

Return for Risk

MRSK vs. HEDG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MRSK

MRSK Risk / Return Rank: 64
MRSK Sharpe Ratio Rank: 65
MRSK Sortino Ratio Rank: 62
MRSK Omega Ratio Rank: 66
MRSK Calmar Ratio Rank: 59
MRSK Martin Ratio Rank: 67

HEDG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MRSK vs. HEDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agility Shares Managed Risk ETF (MRSK) and Equable Shares Hedged Equity ETF (HEDG). 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.

	MRSK	HEDG	Difference
Sharpe ratio: Return per unit of total volatility	1.57	—	—
Sortino ratio: Return per unit of downside risk	2.19	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.19	—	—
Martin ratio: Return relative to average drawdown	8.57	—	—

Drawdowns

MRSK vs. HEDG - Drawdown Comparison

The maximum MRSK drawdown since its inception was -14.70%, which is greater than HEDG's maximum drawdown of -3.85%. Use the drawdown chart below to compare losses from any high point for MRSK and HEDG.

Drawdown Indicators

	MRSK	HEDG	Difference
Max Drawdown Largest peak-to-trough decline	-14.70%	-3.85%	-10.85%
Max Drawdown (1Y) Largest decline over 1 year	-7.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.70%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.51%	-0.38%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	—	—

Volatility

Volatility by Period

	MRSK	HEDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.91%	5.80%	+5.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.78%	5.80%	+5.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.80%	5.80%	+6.00%

MRSK vs. HEDG - Expense Ratio Comparison

MRSK has a 0.99% expense ratio, which is higher than HEDG's 0.96% expense ratio.

Dividends

MRSK vs. HEDG - Dividend Comparison

MRSK's dividend yield for the trailing twelve months is around 0.35%, less than HEDG's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HEDG Equable Shares Hedged Equity ETF	2.30%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%
MRSK Agility Shares Managed Risk ETF	0.35%	0.37%	0.44%	0.60%	1.11%	14.20%	4.29%

Frequently Asked Questions

Can I hold both MRSK and HEDG in my portfolio?

MRSK and HEDG have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MRSK or HEDG?

On fees, HEDG is cheaper at 0.96% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MRSK or HEDG?

HEDG is cheaper with a 0.96% expense ratio, compared with 0.99% for MRSK.

Which ETF pays a higher dividend yield, MRSK or HEDG?

HEDG has the higher dividend yield at 2.30%, compared with 0.35% for MRSK.

What is the main difference between MRSK and HEDG?

They also come from different issuers: Toews and Equable Shares. Their fees differ too: 0.99% for MRSK and 0.96% for HEDG.