FTLS vs HDGE
First Trust Long/Short Equity ETF vs AdvisorShares Active Bear ETF
Which is better, FTLS or HDGE?
Opposite sides of the same exposure.
FTLS has a lower expense ratio. FTLS led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.67, 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 | FTLS | HDGE |
|---|---|---|
| Expense Ratio | 1.38%Best | 3.62% |
| AUM | $2.7B | $56M |
| Dividend Yield | 0.87% | 3.56% |
| Holdings | 363 | 64 |
| YTD Return | +9.83%Best | -3.65% |
| 1Y Return | +13.43%Best | -2.84% |
| 3Y Return (annualized) | +14.42%Best | -9.93% |
| 5Y Return (annualized) | +10.59%Best | -6.86% |
| Volatility (annualized) | 8.7%Best | 21.8% |
| Max Drawdown | -20.5%Best | -87.8% |
| $10,000 over 5 years | $16,542Best | $7,009 |
| Fund Family | First Trust Portfolios (US) | Advisor Shares |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Sep 8, 2014 | Jan 26, 2011 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2014 to Oct 14, 2026 (12.1 years).
FTLS vs HDGE 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 12.1 years both funds cover.
FTLS vs HDGE Performance
First Trust Long/Short Equity ETF (FTLS) is an ETF from First Trust Portfolios (US) and AdvisorShares Active Bear ETF (HDGE) is an ETF from Advisor Shares. Over the past year FTLS returned +13.43% while HDGE returned -2.84%. Year to date, FTLS is up 9.83% versus a loss of 3.65% for HDGE.
Over three years, FTLS compounded at +14.42% per year against -9.93% for HDGE; over five years the annualized figures are +10.59% and -6.86% respectively. Across the full 12-year window we track, FTLS has the edge at +8.71% annualized vs -14.27%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HDGE has been the more volatile fund, with annualized monthly volatility of 21.8% compared with 8.7% for FTLS. 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 -20.5% for FTLS and -87.8% for HDGE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.67. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
FTLS charges 1.38% per year while HDGE charges 3.62%. On a $10,000 position that is $138 vs $362 annually, a gap of $224 per year that compounds over a long holding period. On income, FTLS currently yields 0.87% against 3.56% for HDGE.
Holdings Overlap
We hold position weights for 507 holdings in FTLS and 67 in HDGE, totalling 94.2% and 62.3% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 14 positions appear in both.
14 positions in common, counted across the 507 positions we hold weights for in FTLS and 67 in HDGE, against full books of 363 and 64.
Top Shared Holdings
| Stock | Weight in FTLS | Weight in HDGE | Difference |
|---|---|---|---|
| TMUST MOBILE US INC | 0.49% | -1.19% | 1.68% |
| AIGAmerican International Group | 0.19% | -1.07% | 1.26% |
| WHRWhirlpool Corp. | -0.05% | -0.88% | 0.83% |
| DOWDow Inc | 0.26% | -1.23% | 1.49% |
| DOXAmdocs Ltd. | -0.04% | -1.04% | 1.00% |
| ACIAlbertsons Cos. Llc / Safeway Inc. / New Albertsons Inc. | 0.08% | -1.25% | 1.33% |
| NCLHNorwegian Cruise Line Holdin | -0.18% | -1.07% | 0.89% |
| CNCCentene Corp | 0.24% | -1.73% | 1.97% |
| SWSmurfit Westrock Plc | -0.13% | -1.46% | 1.33% |
| WFCWells Fargo & Co. | -0.17% | -1.42% | 1.25% |
You are not choosing between two funds in isolation.
Whichever of FTLS and HDGE 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, FTLS or HDGE?
FTLS has an expense ratio of 1.38% while HDGE charges 3.62%. FTLS is the cheaper option, by $224 a year on a $10,000 investment.
Which performed better, FTLS or HDGE?
Over the past year FTLS returned +13.43% vs -2.84% for HDGE, so FTLS leads on 1-year performance. Over the longest common window we track (12 years), FTLS annualized +8.71% vs -14.27% for HDGE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FTLS or HDGE?
HDGE has been the more volatile fund at 21.8% annualized versus 8.7% for FTLS. Worst drawdown: FTLS -20.5% vs HDGE -87.8%.
Should I hold both FTLS and HDGE?
FTLS and HDGE have a monthly-return correlation of -0.67, 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.
Which pays a higher dividend, FTLS or HDGE?
FTLS yields 0.87% while HDGE yields 3.56%, so HDGE currently pays the higher dividend yield.
Is HDGE better than FTLS?
FTLS has a lower expense ratio. FTLS led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.67, 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.