SBB vs. HDGE
Compare and contrast key facts about ProShares Short SmallCap600 (SBB) and AdvisorShares Ranger Equity Bear ETF (HDGE).
SBB and HDGE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SBB is a passively managed fund by ProShares that tracks the performance of the S&P SmallCap 600 Index (-100%). It was launched on Jan 23, 2007. HDGE is an actively managed fund by AdvisorShares. It was launched on Jan 26, 2011.
Performance
SBB vs. HDGE - Performance Comparison
Loading graphics...
SBB vs. HDGE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBB ProShares Short SmallCap600 | -2.86% | -3.56% | -3.73% | -10.44% | 13.75% | -25.40% | -26.53% | -18.64% | 8.40% | -12.70% |
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, SBB achieves a -2.86% return, which is significantly lower than HDGE's 12.05% return. Over the past 10 years, SBB has outperformed HDGE with an annualized return of -11.16%, while HDGE has yielded a comparatively lower -14.57% annualized return.
SBB
- 1D
- -2.98%
- 1M
- 4.78%
- YTD
- -2.86%
- 6M
- -3.50%
- 1Y
- -15.35%
- 3Y*
- -6.31%
- 5Y*
- -3.47%
- 10Y*
- -11.16%
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.
SBB vs. HDGE - Expense Ratio Comparison
SBB has a 0.95% expense ratio, which is lower than HDGE's 3.36% expense ratio.
Return for Risk
SBB vs. HDGE — Risk / Return Rank
SBB
HDGE
SBB vs. HDGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short SmallCap600 (SBB) 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.
| SBB | HDGE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.66 | 0.22 | -0.88 |
Sortino ratioReturn per unit of downside risk | -0.82 | 0.45 | -1.27 |
Omega ratioGain probability vs. loss probability | 0.90 | 1.06 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | -0.51 | 0.21 | -0.71 |
Martin ratioReturn relative to average drawdown | -0.71 | 0.30 | -1.01 |
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
| SBB | HDGE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 0.22 | -0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | -0.11 | -0.05 |
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 | -0.49 | -0.66 | +0.18 |
Correlation
The correlation between SBB and HDGE is 0.79, 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
SBB vs. HDGE - Dividend Comparison
SBB's dividend yield for the trailing twelve months is around 3.23%, more than HDGE's 3.12% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SBB ProShares Short SmallCap600 | 3.23% | 3.44% | 4.86% | 4.64% | 0.31% | 0.00% | 0.04% | 1.20% | 0.17% |
HDGE AdvisorShares Ranger Equity Bear ETF | 3.12% | 3.50% | 7.83% | 9.58% | 0.00% | 0.00% | 0.00% | 0.22% | 0.00% |
Drawdowns
SBB vs. HDGE - Drawdown Comparison
The maximum SBB drawdown since its inception was -95.54%, roughly equal to the maximum HDGE drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for SBB and HDGE.
Loading graphics...
Drawdown Indicators
| SBB | HDGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.54% | -93.88% | -1.66% |
Max Drawdown (1Y)Largest decline over 1 year | -30.86% | -19.63% | -11.23% |
Max Drawdown (5Y)Largest decline over 5 years | -31.94% | -42.97% | +11.03% |
Max Drawdown (10Y)Largest decline over 10 years | -72.01% | -83.69% | +11.68% |
Current DrawdownCurrent decline from peak | -95.24% | -92.64% | -2.60% |
Average DrawdownAverage peak-to-trough decline | -74.34% | -69.85% | -4.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.10% | 13.53% | +8.57% |
Volatility
SBB vs. HDGE - Volatility Comparison
ProShares Short SmallCap600 (SBB) has a higher volatility of 6.62% compared to AdvisorShares Ranger Equity Bear ETF (HDGE) at 4.48%. This indicates that SBB'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
| SBB | HDGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 4.48% | +2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 13.33% | 12.17% | +1.16% |
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 | 21.77% | 23.96% | -2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.26% | 23.51% | -0.25% |