HDG vs VOO
ProShares Hedge Replication ETF vs Vanguard S&P 500 ETF
Which is better, HDG or VOO?
Multi Alternative against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HDG | VOO |
|---|---|---|
| Expense Ratio | 0.95% | 0.03%Best |
| AUM | $22M | $997.4B |
| Dividend Yield | 2.36% | 1.04% |
| Holdings | 1,988 | 509 |
| YTD Return | +6.76% | +12.25%Best |
| 1Y Return | +9.32% | +17.03%Best |
| 3Y Return (annualized) | +7.10% | +21.25%Best |
| 5Y Return (annualized) | +3.23% | +13.08%Best |
| Volatility (annualized) | 5.7%Best | 14.3% |
| Max Drawdown | -15.3%Best | -34.3% |
| $10,000 over 5 years | $11,723 | $18,490Best |
| Fund Family | ProShares | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Jul 12, 2011 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jul 14, 2011 to Sep 17, 2026 (15.2 years).
HDG vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
HDG vs VOO Performance
ProShares Hedge Replication ETF (HDG) is an ETF from ProShares and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year HDG returned +9.32% while VOO returned +17.03%. Year to date, HDG is up 6.76% versus a gain of 12.25% for VOO.
Over three years, HDG compounded at +7.10% per year against +21.25% for VOO; over five years the annualized figures are +3.23% and +13.08% respectively. Across the full 15-year window we track, VOO has the edge at +12.92% annualized vs +2.73%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 5.7% for HDG. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -15.3% for HDG and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HDG charges 0.95% per year while VOO charges 0.03%. On a $10,000 position that is $95 vs $3 annually, a gap of $92 per year that compounds over a long holding period. On income, HDG currently yields 2.36% against 1.04% for VOO.
Holdings Overlap
At least 0.3% of VOO's money is in holdings HDG also owns.
Stated as a floor: for HDG, our book for it covers 10.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
3 positions in common, counted across the 1,919 positions we hold weights for in HDG and 494 in VOO, against full books of 1,988 and 509.
You are not choosing between two funds in isolation.
Whichever of HDG and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HDG or VOO?
HDG has an expense ratio of 0.95% while VOO charges 0.03%. VOO is the cheaper option, by $92 a year on a $10,000 investment.
Which performed better, HDG or VOO?
Over the past year HDG returned +9.32% vs +17.03% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (15 years), HDG annualized +2.73% vs +12.92% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HDG or VOO?
VOO has been the more volatile fund at 14.3% annualized versus 5.7% for HDG. Worst drawdown: HDG -15.3% vs VOO -34.3%.
Should I hold both HDG and VOO?
HDG and VOO have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HDG or VOO?
HDG yields 2.36% while VOO yields 1.04%, so HDG currently pays the higher dividend yield.
Is VOO better than HDG?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.