---
ticker: "HDG"
name: "ProShares - Hedge Replication ETF"
url: "https://etf.net/etf/HDG"
grade: "B"
score: 58
graded_at: "2026-10-12"
category: "Alternative Strategies"
category_rank: "10 of 30"
methodology: "https://etf.net/methodology"
---

# HDG: ProShares - Hedge Replication ETF

Grade **B**, Score 58 of 100. Rank 10 of 30 in Alternative Strategies.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 67 | 9 of 30 |
| Mission | Not scored | — |
| Risk | 69 | 9 of 30 |
| Tradability | 26 | 25 of 30 |
| Holdings | Not scored | — |
| Durability | 68 | 7 of 30 |

## Top holdings

The fund holds 1972 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | TREASURY BILL, 0%, due 2026-12-31 | 64.62% |
| 2 | — | Net Other Assets (Liabilities) | 19.33% |
| 3 | FROG | Jfrog Ltd | 0.06% |
| 4 | — | Moog Inc-Class A | 0.06% |
| 5 | BTSG | Brightspring Health Services | 0.06% |
| 6 | TWST | Twist Bioscience Corp | 0.05% |
| 7 | PCVX | Vaxcyte Inc | 0.05% |
| 8 | UMBF | Umb Financial Corp | 0.05% |
| 9 | GKOS | Glaukos Corp | 0.05% |
| 10 | SM | Sm Energy Co | 0.05% |
| 11 | PTGX | Protagonist Therapeutics Inc | 0.05% |
| 12 | CTRE | Caretrust Reit Inc | 0.05% |
| 13 | TXG | 10X Genomics Inc-Class A | 0.05% |
| 14 | HUT | Hut 8 Corp | 0.05% |
| 15 | KRYS | Krystal Biotech Inc | 0.05% |
| 16 | FCFS | Firstcash Holdings Inc | 0.05% |
| 17 | VSAT | Viasat Inc | 0.05% |
| 18 | ONB | Old National Bancorp | 0.05% |
| 19 | JXN | Jackson Financial Inc-A | 0.05% |
| 20 | IDCC | Interdigital Inc | 0.05% |
| 21 | CYTK | Cytokinetics Inc | 0.05% |
| 22 | EAT | Brinker International Inc | 0.05% |
| 23 | PBF | Pbf Energy Inc-Class A | 0.05% |
| 24 | RHP | Ryman Hospitality Properties | 0.04% |
| 25 | OSCR | Oscar Health Inc - Class A | 0.04% |
| 26 | TGTX | Tg Therapeutics Inc | 0.04% |
| 27 | MXL | Maxlinear Inc | 0.04% |
| 28 | HQY | Healthequity Inc | 0.04% |
| 29 | ZETA | Zeta Global Holdings Corp-A | 0.04% |
| 30 | SSRM | Ssr Mining Inc | 0.04% |

Source: etf.net, https://etf.net/etf/HDG. Please cite the page URL.