HDG ETF — ProShares Hedge Replication ETF

ProShares Hedge Replication ETF (HDG)

Updated October 16, 2026.

HDG is an ETF. its distribution rate is 2.25%, its trailing-12-month yield is 2.31%, its expense ratio is 0.95%. Dividend Vision Distribution Safety Score™ is 67/100 (Generally safe). Total return is 52.5% over the past 15.3 years, 608.4 points behind SPY at 660.9%.

ProShares Hedge Replication ETF seeks to track the performance characteristics of the hedge fund asset class by replicating the risk and return profile of the HFRI Composite Index through a combination of financial instruments. The fund offers a modest current distribution rate paid quarterly and carries an expense ratio of 0.95%.

HDG performance versus SPY

Price and return data through 2026-10-16.

Total return is 52.5% over the past 15.3 years, 608.4 points behind SPY at 660.9%. Over the past year its total return — price change plus distributions reinvested — is 6.6%. Its deepest 1-year drawdown was 4.0%.

HDG key facts

Distribution Safety Score™

67 · Generally safe

Safety-Adjusted Yield

1.51%

Issuer

ProShares

Asset type

ETF

Asset class

Fixed Income

Inception date

07/12/2011

Expense ratio

0.95%

Distribution rate

2.25%

Distribution frequency

Quarterly

Trailing yield

2.31%

Last close

$53.40 (as of 2026-10-16)

AUM

$22,455,976

Average volume

223.0

Dividend

$0.30

Ex-dividend date

09/23/2026

Payment date

09/29/2026

Beta

0.34

How Dividend Vision calculates yield and returns

Distribution rate (2.25%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (2.31%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: ProShares; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

HDG risks and drawbacks

HDG's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 4.0%.

Who may consider HDG — and who may not

HDG may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (HDG pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on HDG

• All tickers starting with H

Tagged: Fixed Income.

Frequently asked questions

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