ONEH vs. HEGD

Last updated Jun 5, 2026

ONEH (TrueShares Equity Hedge ETF) and HEGD (Swan Hedged Equity US Large Cap ETF) are both Equity Hedged funds. ONEH is actively managed, while HEGD is passively managed. At a 0.08 correlation, their price movements are largely independent. ONEH charges 0.79%/yr vs 0.88%/yr for HEGD.

Performance

ONEH vs. HEGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Equity Hedge ETF (ONEH) and Swan Hedged Equity US Large Cap ETF (HEGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ONEH

• 1D: 0.47%
• 1M: 0.45%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEGD

• 1D: 0.24%
• 1M: 3.09%
• YTD: 7.10%
• 6M: 6.51%
• 1Y: 18.32%
• 3Y*: 14.78%
• 5Y*: 9.09%
• 10Y*: —

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

ONEH vs. HEGD - Yearly Performance Comparison

	2026 (YTD)
ONEH TrueShares Equity Hedge ETF	-1.72%
HEGD Swan Hedged Equity US Large Cap ETF	5.63%

Correlation

The correlation between ONEH and HEGD is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 30, 2026	0.08

Return for Risk

ONEH vs. HEGD — Risk / Return Rank

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

HEGD

HEGD Risk / Return Rank: 83
HEGD Sharpe Ratio Rank: 83
HEGD Sortino Ratio Rank: 85
HEGD Omega Ratio Rank: 82
HEGD Calmar Ratio Rank: 81
HEGD Martin Ratio Rank: 83

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.

ONEH vs. HEGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Equity Hedge ETF (ONEH) and Swan Hedged Equity US Large Cap ETF (HEGD). 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.

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

Sharpe Ratios by Period

	ONEH	HEGD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.65	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.05	1.07	-2.11

Drawdowns

ONEH vs. HEGD - Drawdown Comparison

The maximum ONEH drawdown since its inception was -3.55%, smaller than the maximum HEGD drawdown of -14.56%. Use the drawdown chart below to compare losses from any high point for ONEH and HEGD.

Drawdown Indicators

	ONEH	HEGD	Difference
Max Drawdown Largest peak-to-trough decline	-3.55%	-14.56%	+11.01%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.39%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.56%	—
Current Drawdown Current decline from peak	-1.72%	-0.39%	-1.33%
Average Drawdown Average peak-to-trough decline	-1.58%	-3.66%	+2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.10%	—

Volatility

Volatility by Period

	ONEH	HEGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.95%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.71%	6.94%	-2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.71%	9.40%	-4.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.71%	9.35%	-4.64%

ONEH vs. HEGD - Expense Ratio Comparison

ONEH has a 0.79% expense ratio, which is lower than HEGD's 0.88% expense ratio.

Dividends

ONEH vs. HEGD - Dividend Comparison

ONEH has not paid dividends to shareholders, while HEGD's dividend yield for the trailing twelve months is around 0.33%.

Position	TTM	2025	2024	2023	2022	2021
HEGD Swan Hedged Equity US Large Cap ETF	0.33%	0.36%	0.43%	0.39%	0.87%	0.31%
ONEH TrueShares Equity Hedge ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONEH and HEGD in my portfolio?

ONEH and HEGD have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ONEH or HEGD?

On fees, ONEH is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ONEH or HEGD?

ONEH is cheaper with a 0.79% expense ratio, compared with 0.88% for HEGD.

Which ETF pays a higher dividend yield, ONEH or HEGD?

HEGD has the higher dividend yield at 0.33%, compared with 0.00% for ONEH.

What is the main difference between ONEH and HEGD?

They also come from different issuers: TrueShares and Swan. Their fees differ too: 0.79% for ONEH and 0.88% for HEGD.