WTID vs. HDGE

Last updated Jul 17, 2026

WTID (MicroSectors Energy -3X Inverse Leveraged ETN) and HDGE (AdvisorShares Ranger Equity Bear ETF) are both Inverse Equities funds. WTID is passively managed, while HDGE is actively managed. Over the past 3 years, WTID returned -47.29%/yr vs -3.04%/yr for HDGE. At a 0.27 correlation, their price movements are largely independent. WTID charges 0.95%/yr vs 3.36%/yr for HDGE.

Performance

WTID vs. HDGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Energy -3X Inverse Leveraged ETN (WTID) and AdvisorShares Ranger Equity Bear ETF (HDGE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WTID achieves a -62.04% return, which is significantly lower than HDGE's -2.80% return.

WTID

• 1D: -3.89%
• 1M: -16.63%
• 6M: -55.93%
• YTD: -62.04%
• 1Y: -68.60%
• 3Y*: -47.29%
• 5Y*: —
• 10Y*: —

HDGE

• 1D: -2.07%
• 1M: -5.75%
• 6M: -2.07%
• YTD: -2.80%
• 1Y: -4.67%
• 3Y*: -3.04%
• 5Y*: -4.86%
• 10Y*: -15.19%

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

WTID vs. HDGE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WTID MicroSectors Energy -3X Inverse Leveraged ETN	-62.04%	-44.50%	-7.93%	-16.93%
HDGE AdvisorShares Ranger Equity Bear ETF	-2.80%	1.50%	-8.01%	-9.44%

Correlation

The correlation between WTID and HDGE is -0.03, 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 (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023	0.27

The correlation between WTID and HDGE shifts across timeframes, from -0.03 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

WTID vs. HDGE - Sectors Allocation Comparison

Sectors	WTID	HDGE
Energy	100.0%	-2.5%
Basic Materials	-	-1.4%
Communication Services	-	-3.8%
Consumer Cyclical	-	-24.0%
Consumer Defensive	-	-3.9%
Financial Services	-	-19.5%
Healthcare	-	-1.7%
Industrials	-	-14.8%
Real Estate	-	-13.7%
Technology	-	-19.1%
Utilities	-	-

Return for Risk

WTID vs. HDGE — Risk / Return Rank

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

WTID

WTID Risk / Return Rank: 1
WTID Sharpe Ratio Rank: 2
WTID Sortino Ratio Rank: 1
WTID Omega Ratio Rank: 1
WTID Calmar Ratio Rank: 1
WTID Martin Ratio Rank: 1

HDGE

HDGE Risk / Return Rank: 7
HDGE Sharpe Ratio Rank: 7
HDGE Sortino Ratio Rank: 7
HDGE Omega Ratio Rank: 7
HDGE Calmar Ratio Rank: 7
HDGE Martin Ratio Rank: 6

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.

WTID vs. HDGE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Energy -3X Inverse Leveraged ETN (WTID) 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.

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.

	WTID	HDGE	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	-0.25	-0.75
Sortino ratio: Return per unit of downside risk	-1.87	-0.24	-1.63
Omega ratio: Gain probability vs. loss probability	0.80	0.97	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.92	-0.30	-0.62
Martin ratio: Return relative to average drawdown	-1.46	-0.70	-0.76

WTID vs. HDGE - Sharpe Ratio Comparison

The current WTID Sharpe Ratio is -1.01, which is lower than the HDGE Sharpe Ratio of -0.25. The chart below compares the historical Sharpe Ratios of WTID and HDGE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WTID vs. HDGE - Drawdown Comparison

The maximum WTID drawdown since its inception was -90.35%, roughly equal to the maximum HDGE drawdown of -93.88%. Use the drawdown chart below to compare losses from any high point for WTID and HDGE.

Drawdown Indicators

	WTID	HDGE	Difference
Max Drawdown Largest peak-to-trough decline	-90.35%	-93.88%	+3.53%
Max Drawdown (1Y) Largest decline over 1 year	-74.87%	-15.56%	-59.31%
Max Drawdown (3Y) Largest decline over 3 years	-86.80%	-29.46%	-57.34%
Max Drawdown (5Y) Largest decline over 5 years	—	-42.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-81.95%	—
Current Drawdown Current decline from peak	-88.82%	-93.62%	+4.80%
Average Drawdown Average peak-to-trough decline	-55.48%	-70.27%	+14.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.91%	6.68%	+40.23%

Volatility

WTID vs. HDGE - Volatility Comparison

MicroSectors Energy -3X Inverse Leveraged ETN (WTID) has a higher volatility of 21.51% compared to AdvisorShares Ranger Equity Bear ETF (HDGE) at 6.37%. This indicates that WTID'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.

Volatility by Period

	WTID	HDGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.51%	6.37%	+15.14%
Volatility (6M) Calculated over the trailing 6-month period	55.66%	13.92%	+41.74%
Volatility (1Y) Calculated over the trailing 1-year period	68.45%	18.42%	+50.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.59%	24.27%	+46.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.59%	23.45%	+47.14%

WTID vs. HDGE - Expense Ratio Comparison

WTID has a 0.95% expense ratio, which is lower than HDGE's 3.36% expense ratio.

Dividends

WTID vs. HDGE - Dividend Comparison

WTID has not paid dividends to shareholders, while HDGE's dividend yield for the trailing twelve months is around 3.60%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HDGE AdvisorShares Ranger Equity Bear ETF	3.60%	3.50%	7.83%	9.58%	0.00%	0.00%	0.00%	0.22%
WTID MicroSectors Energy -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WTID and HDGE in my portfolio?

WTID and HDGE have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WTID or HDGE?

WTID has higher volatility (21.51%) compared to HDGE (6.37%). In terms of maximum drawdown, WTID dropped -90.35% vs HDGE's -93.88%.

Which ETF is better, WTID or HDGE?

On 3-year performance, HDGE leads with -3.04% vs -47.29% for WTID. On fees, WTID is cheaper at 0.95% per year. On volatility, HDGE has been the lower-risk option at 6.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WTID or HDGE?

Over the 3-year period, HDGE has performed better with a -3.04% return vs -47.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WTID or HDGE?

WTID is cheaper with a 0.95% expense ratio, compared with 3.36% for HDGE.

Which ETF pays a higher dividend yield, WTID or HDGE?

HDGE has the higher dividend yield at 3.60%, compared with 0.00% for WTID.

What is the main difference between WTID and HDGE?

They also come from different issuers: REX and AdvisorShares. Their fees differ too: 0.95% for WTID and 3.36% for HDGE.

Which has better risk-adjusted returns?

HDGE currently has the higher Sharpe Ratio (-0.25 vs -1.01), 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.