HDGE vs VOO
AdvisorShares Active Bear ETF vs Vanguard S&P 500 ETF
Which is better, HDGE or VOO?
Opposite sides of the same exposure.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.79, so holding both offsets the exposure while paying both fees.
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 | HDGE | VOO |
|---|---|---|
| Expense Ratio | 3.62% | 0.03%Best |
| AUM | $52M | $997.4B |
| Dividend Yield | 3.99% | 1.04% |
| Holdings | 64 | 509 |
| YTD Return | -7.31% | +12.37%Best |
| 1Y Return | -3.12% | +16.61%Best |
| 3Y Return (annualized) | -8.93% | +21.37%Best |
| 5Y Return (annualized) | -7.85% | +13.49%Best |
| Volatility (annualized) | 20.9% | 14.2%Best |
| Max Drawdown | -94.7% | -34.3%Best |
| $10,000 over 5 years | $6,645 | $18,827Best |
| Fund Family | Advisor Shares | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Jan 26, 2011 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 27, 2011 to Sep 18, 2026 (15.6 years).
HDGE 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 covers the 15.6 years both funds cover.
HDGE vs VOO Performance
AdvisorShares Active Bear ETF (HDGE) is an ETF from Advisor Shares and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year HDGE returned -3.12% while VOO returned +16.61%. Year to date, HDGE is down 7.31% versus a gain of 12.37% for VOO.
Over three years, HDGE compounded at -8.93% per year against +21.37% for VOO; over five years the annualized figures are -7.85% and +13.49% respectively. Across the full 16-year window we track, VOO has the edge at +12.58% annualized vs -15.74%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HDGE has been the more volatile fund, with annualized monthly volatility of 20.9% compared with 14.2% for VOO. 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 -94.7% for HDGE 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 -0.79. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
HDGE charges 3.62% per year while VOO charges 0.03%. On a $10,000 position that is $362 vs $3 annually, a gap of $359 per year that compounds over a long holding period. On income, HDGE currently yields 3.99% against 1.04% for VOO.
Holdings Overlap
At least 1.7% of VOO's money is in holdings HDGE also owns.
Stated as a floor: for HDGE, our book for it covers 66.1% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
They hold the same names on opposite sides, so owning both offsets the exposure rather than doubling it.
20 positions in common, counted across the 60 positions we hold weights for in HDGE and 494 in VOO, against full books of 64 and 509.
Top Shared Holdings
| Stock | Weight in HDGE | Weight in VOO | Difference |
|---|---|---|---|
| ARESAres Management Corp A | -1.09% | 0.04% | 1.13% |
| CCICrown Castle International Corp | -1.18% | 0.05% | 1.23% |
| AIGAmerican International Gr | -1.19% | 0.06% | 1.25% |
| NCLHNorwegian Cruise Line Holdings | -1.21% | 0.01% | 1.22% |
| ORCLOracle Corp - Common | -1.54% | 0.34% | 1.88% |
| BLDRBuilders Firstsource Inc | -1.28% | 0.01% | 1.29% |
| TMUST-Mobile Usa Inc Esrw Usd Npv Ref Sm#585558 | -1.41% | 0.12% | 1.53% |
| WFCWells Fargo & Co. | -1.75% | 0.41% | 2.16% |
| INVHInvitation Homes Inc. Reit | -1.38% | 0.03% | 1.41% |
| PAYXPaychex, Inc. | -1.42% | 0.06% | 1.48% |
You are not choosing between two funds in isolation.
Whichever of HDGE 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, HDGE or VOO?
HDGE has an expense ratio of 3.62% while VOO charges 0.03%. VOO is the cheaper option, by $359 a year on a $10,000 investment.
Which performed better, HDGE or VOO?
Over the past year HDGE returned -3.12% vs +16.61% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), HDGE annualized -15.74% vs +12.58% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HDGE or VOO?
HDGE has been the more volatile fund at 20.9% annualized versus 14.2% for VOO. Worst drawdown: HDGE -94.7% vs VOO -34.3%.
Should I hold both HDGE and VOO?
HDGE and VOO have a monthly-return correlation of -0.79, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
What is the holdings overlap between HDGE and VOO?
At least 1.7% of VOO's money is in holdings HDGE also owns. Our book for HDGE is partial, so the real figure is this or higher. They hold 20 positions in common, counted across the 60 positions we hold weights for in HDGE and 494 in VOO.
Which pays a higher dividend, HDGE or VOO?
HDGE yields 3.99% while VOO yields 1.04%, so HDGE currently pays the higher dividend yield.
Is VOO better than HDGE?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.79, so holding both offsets the exposure while paying both fees. Which one suits a particular account depends on what it is for. This is information, not a recommendation.