HDGE vs XYLD
AdvisorShares Active Bear ETF vs Global X S&P 500 Covered Call ETF
Which is better, HDGE or XYLD?
Opposite sides of the same exposure.
XYLD has a lower expense ratio. XYLD led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.72, 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 | XYLD |
|---|---|---|
| Expense Ratio | 3.62% | 0.60%Best |
| AUM | $56M | $3.4B |
| Dividend Yield | 3.56% | 10.44% |
| Holdings | 64 | 1,014 |
| YTD Return | -3.65% | +11.42%Best |
| 1Y Return | -2.84% | +18.43%Best |
| 3Y Return (annualized) | -9.93% | +13.38%Best |
| 5Y Return (annualized) | -6.86% | +7.59%Best |
| Volatility (annualized) | 21.1% | 11.1%Best |
| Max Drawdown | -90.5% | -34.7%Best |
| $10,000 over 5 years | $7,009 | $14,416Best |
| Fund Family | Advisor Shares | Global X by mirae Asset |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Jan 26, 2011 | Jun 21, 2013 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 24, 2013 to Oct 14, 2026 (13.3 years).
HDGE vs XYLD 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 13.3 years both funds cover.
HDGE vs XYLD Performance
AdvisorShares Active Bear ETF (HDGE) is an ETF from Advisor Shares and Global X S&P 500 Covered Call ETF (XYLD) is an ETF from Global X by mirae Asset. Over the past year HDGE returned -2.84% while XYLD returned +18.43%. Year to date, HDGE is down 3.65% versus a gain of 11.42% for XYLD.
Over three years, HDGE compounded at -9.93% per year against +13.38% for XYLD; over five years the annualized figures are -6.86% and +7.59% respectively. Across the full 13-year window we track, XYLD has the edge at +5.08% annualized vs -15.53%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HDGE has been the more volatile fund, with annualized monthly volatility of 21.1% compared with 11.1% for XYLD. 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 -90.5% for HDGE and -34.7% for XYLD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.72. 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 XYLD charges 0.60%. On a $10,000 position that is $362 vs $60 annually, a gap of $302 per year that compounds over a long holding period. On income, HDGE currently yields 3.56% against 10.44% for XYLD.
Holdings Overlap
At least 1.4% of XYLD's money is in holdings HDGE also owns.
Stated as a floor: for HDGE, our book for it covers 62.3% 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.
21 positions in common, counted across the 67 positions we hold weights for in HDGE and 496 in XYLD, against full books of 64 and 1,014.
Top Shared Holdings
| Stock | Weight in HDGE | Weight in XYLD | Difference |
|---|---|---|---|
| ARESAres Management Corp A | -0.82% | 0.04% | 0.86% |
| CCICrown Castle Inc | -0.98% | 0.04% | 1.02% |
| AIGAmerican International Group | -1.07% | 0.06% | 1.13% |
| PAYXPaychex Inc | -1.08% | 0.05% | 1.13% |
| WFCWells Fargo & Co. | -1.42% | 0.37% | 1.79% |
| NCLHNorwegian Cruise Line Holdin | -1.07% | 0.01% | 1.08% |
| TMUST MOBILE US INC | -1.19% | 0.12% | 1.31% |
| INVHInvitation Homes Inc | -1.15% | 0.02% | 1.17% |
| VRSKVerisk Analytics Inc | -1.20% | 0.04% | 1.24% |
| VICIVici Properties Inc | -1.20% | 0.04% | 1.24% |
You are not choosing between two funds in isolation.
Whichever of HDGE and XYLD 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 XYLD?
HDGE has an expense ratio of 3.62% while XYLD charges 0.60%. XYLD is the cheaper option, by $302 a year on a $10,000 investment.
Which performed better, HDGE or XYLD?
Over the past year HDGE returned -2.84% vs +18.43% for XYLD, so XYLD leads on 1-year performance. Over the longest common window we track (13 years), HDGE annualized -15.53% vs +5.08% for XYLD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HDGE or XYLD?
HDGE has been the more volatile fund at 21.1% annualized versus 11.1% for XYLD. Worst drawdown: HDGE -90.5% vs XYLD -34.7%.
Should I hold both HDGE and XYLD?
HDGE and XYLD have a monthly-return correlation of -0.72, 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 XYLD?
At least 1.4% of XYLD's money is in holdings HDGE also owns. Our book for HDGE is partial, so the real figure is this or higher. They hold 21 positions in common, counted across the 67 positions we hold weights for in HDGE and 496 in XYLD.
Which pays a higher dividend, HDGE or XYLD?
HDGE yields 3.56% while XYLD yields 10.44%, so XYLD currently pays the higher dividend yield.
Is XYLD better than HDGE?
XYLD has a lower expense ratio. XYLD led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.72, 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.