RWM vs. HDGE
Compare and contrast key facts about ProShares Short Russell2000 (RWM) and AdvisorShares Ranger Equity Bear ETF (HDGE).
RWM and HDGE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RWM is a passively managed fund by ProShares that tracks the performance of the Russell 2000 (-100%). It was launched on Jan 23, 2007. HDGE is an actively managed fund by AdvisorShares. It was launched on Jan 26, 2011.
Performance
RWM vs. HDGE - Performance Comparison
Loading graphics...
RWM vs. HDGE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RWM ProShares Short Russell2000 | -0.52% | -9.40% | -5.91% | -10.43% | 18.34% | -17.90% | -31.04% | -19.83% | 11.57% | -13.61% |
HDGE AdvisorShares Ranger Equity Bear ETF | 12.05% | 1.50% | -8.01% | -26.98% | 16.59% | -18.61% | -43.47% | -36.27% | 7.53% | -15.24% |
Returns By Period
In the year-to-date period, RWM achieves a -0.52% return, which is significantly lower than HDGE's 12.05% return. Over the past 10 years, RWM has outperformed HDGE with an annualized return of -11.01%, while HDGE has yielded a comparatively lower -14.57% annualized return.
RWM
- 1D
- -3.51%
- 1M
- 5.06%
- YTD
- -0.52%
- 6M
- -1.93%
- 1Y
- -19.15%
- 3Y*
- -8.15%
- 5Y*
- -2.92%
- 10Y*
- -11.01%
HDGE
- 1D
- -1.94%
- 1M
- 4.54%
- YTD
- 12.05%
- 6M
- 13.38%
- 1Y
- 4.28%
- 3Y*
- -4.77%
- 5Y*
- -2.67%
- 10Y*
- -14.57%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
RWM vs. HDGE - Expense Ratio Comparison
RWM has a 0.95% expense ratio, which is lower than HDGE's 3.36% expense ratio.
Return for Risk
RWM vs. HDGE — Risk / Return Rank
RWM
HDGE
RWM vs. HDGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Russell2000 (RWM) and AdvisorShares Ranger Equity Bear ETF (HDGE). 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.
| RWM | HDGE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.83 | 0.22 | -1.04 |
Sortino ratioReturn per unit of downside risk | -1.09 | 0.45 | -1.53 |
Omega ratioGain probability vs. loss probability | 0.87 | 1.06 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | -0.54 | 0.21 | -0.75 |
Martin ratioReturn relative to average drawdown | -0.74 | 0.30 | -1.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| RWM | HDGE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.83 | 0.22 | -1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | -0.11 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.48 | -0.62 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.46 | -0.66 | +0.20 |
Correlation
The correlation between RWM and HDGE is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
RWM vs. HDGE - Dividend Comparison
RWM's dividend yield for the trailing twelve months is around 3.57%, more than HDGE's 3.12% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RWM ProShares Short Russell2000 | 3.57% | 3.97% | 6.03% | 4.78% | 0.39% | 0.00% | 0.20% | 1.55% | 0.87% | 0.07% |
HDGE AdvisorShares Ranger Equity Bear ETF | 3.12% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% | 0.00% | 0.00% |
Drawdowns
RWM vs. HDGE - Drawdown Comparison
The maximum RWM drawdown since its inception was -95.12%, roughly equal to the maximum HDGE drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for RWM and HDGE.
Loading graphics...
Drawdown Indicators
| RWM | HDGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.12% | -93.88% | -1.24% |
Max Drawdown (1Y)Largest decline over 1 year | -34.53% | -19.63% | -14.90% |
Max Drawdown (5Y)Largest decline over 5 years | -36.80% | -42.97% | +6.17% |
Max Drawdown (10Y)Largest decline over 10 years | -71.94% | -83.69% | +11.75% |
Current DrawdownCurrent decline from peak | -94.70% | -92.64% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -73.85% | -69.85% | -4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.23% | 13.53% | +11.70% |
Volatility
RWM vs. HDGE - Volatility Comparison
ProShares Short Russell2000 (RWM) has a higher volatility of 7.47% compared to AdvisorShares Ranger Equity Bear ETF (HDGE) at 4.48%. This indicates that RWM's price experiences larger fluctuations and is considered to be riskier than HDGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| RWM | HDGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.47% | 4.48% | +2.99% |
Volatility (6M)Calculated over the trailing 6-month period | 14.43% | 12.17% | +2.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.18% | 19.95% | +3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.58% | 23.96% | -1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.07% | 23.51% | -0.44% |