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HDGE

GradeFNew York Stock Exchange Arca

AdvisorShares Ranger Equity Bear ETF

Multi-Asset & Alternatives · AdvisorShares · Inception 2011-01-26 · SEC filings

$15.16+0.21 (+1.40%)

As of Sep 23, 2026, 3:10 PM EDT

Intraday session: up, 68 prints from 14.95 to 15.16. Range 15.05 to 15.18. Use the arrow keys to read each point.$15.05$15.1010 AM12 PM2 PM4 PM
Expense ratio
3.62%
Fund size
$62M
1Y return
−3.7%
Yield · Last 12 months
3.78%
Holdings
64
Volume · 30D
0.1M sh
NAV per share
$15.00
52W range
low $13.77high $18.45

The ETF.net HDGE Grade

F

22/ 100

Rank 29 of 30 in Alternative Strategies⁠

Confidence Medium

Six-pillar profile for HDGE. Scores out of 100: Cost 3, Risk 11, Mission not scored, Tradability 57, Holdings not scored, Durability 63. Strongest: Durability (63). Weakest: Cost (3). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 22 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 3
    Category rank29/30 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 11
    Category rank28/30 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 57
    Category rank15/30 · top 50%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 63
    Category rank11/30 · top 37%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

HDGE Holdings

As of Sep 20, 2026, 6:06 AM
Asset class
Other
Holdings
64
Top-10 weight
195%
Largest holding
CASH72.5%

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CASH72.52%45,210,084$45M414
002—DERIVATIVES COLLATERAL CF SECURED55.54%34,622,666$35M2
003—FIDELITY INSTL GOVT 657 C52.67%32,835,488$33M1
004—BLACKROCK FEDERAL FD 30 INSTL14.02%8,741,929$9M1

Showing 1–4 of 4 holdings

HDGE Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

HDGE$9,629
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. HDGE $9,629. SPY $11,723. Use the arrow keys to read each point.$8,768$10,393$12,018Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for HDGE. Periods over one year show the average yearly return.
PeriodHDGE
Year to date−6.7%
1 month+6.1%
3 months−12.5%
1 year−3.7%
3 years−7.6%per year
5 years−6.2%per year
10 years−15.3%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for HDGE
YearReturn barHDGE
2026 YTD−6.7%
2025+1.5%
2024−8.0%
2023−26.9%
2022+16.6%
2021−18.6%
2020−43.5%

HDGE in the news

ETF.net Research hasn’t filed on HDGE yet — coverage lands here as it’s written.

HDGE Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
3.78%Last 12 months
Payout per share
$0.56Last 12 months
Last payment
$0.56 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2019–2026

One bar per payment. 4 payments from 2019 to 2026 YTD. Dec 27, 2019 $0.12; Dec 26, 2023 $1.83; Dec 23, 2024 $1.28; Dec 22, 2025 $0.56. Use the arrow keys to read each point.20192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 29, 2025$0.56
Dec 23, 2024Dec 30, 2024$1.28
Dec 26, 2023Dec 29, 2023$1.83
Dec 27, 2019Dec 31, 2019$0.12

HDGE Risk

How much the fund’s monthly returns vary, scaled to a year.
19.8%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.51
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−46.6%
Trough Aug 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−1.13
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

HDGE Cost

Expense ratio3.62%
  • The middle half of Alternative Strategies funds
  • Median 1.00%

27 of the 29 Alternative Strategies funds charge less.

HDGE costs $362.00 a year on $10,000. The median Alternative Strategies fund costs $100.00.