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HDGE ETF — AdvisorShares Ranger Equity Bear ETF
AdvisorShares Ranger Equity Bear ETF (HDGE)
Updated November 6, 2026.
Verdict as of November 6, 2026 close
It pays annual and its distribution rate is 3.81%. The latest total cash payment per current share, $0.56 with an ex-date of December 22, 2025, was 56.3% lower than the previous $1.28. It is not yet confirmed whether this is a cut to the regular payout or a one-off difference.
Sources: AdvisorShares, Section 19a-1 notices, scoring methodology.
HDGE is an ETF. Its distribution rate is 3.81%, its trailing-12-month yield is 3.81%, its expense ratio is 3.62%. Total return is -92.8% over the past 15.8 years, 735.7 points behind SPY at 642.9%.
HDGE dividend yield and income
Price as of 2026-11-06.
The distribution rate (3.81%) has no calculation basis on file. Trailing-12-month yield (3.81%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.56. The ex-dividend date is 12/22/2025. The payment date is 12/29/2025.
| Ex-date | As paid | Per current share | Change from previous payment |
|---|---|---|---|
| 2025-12-22 | $0.56 | $0.56 | -56.3% Total cash (unclassified) |
| 2024-12-23 | $1.28 | $1.28 | -30.2% Total cash (unclassified) |
| 2023-12-26 | $1.835 | $1.835 | 1429.2% Total cash (unclassified) |
| 2019-12-27 | $0.012 | $0.12 | — |
| 2019 total | — | $0.12 | — |
| 2023 total | — | $1.835 | 1429.2% |
| 2024 total | — | $1.28 | -30.2% |
| 2025 total | — | $0.56 | -56.3% |
HDGE dividend growth
Trailing-12-month distributions versus the preceding 12 months changed -56.3%. The 1Y row below uses this same adjacent TTM cash-window comparison.
| Window | Change |
|---|---|
| 1Y | -56.3% |
HDGE holdings and sector exposure
The top 10 holdings are -30.4% of the fund.
| Ticker | Name | Weight |
|---|---|---|
| OZK | Bank Ozk | -4.61% |
| CVNA | Carvana Co | -4.26% |
| FG | F&G Annuities & Life Inc. | -3.77% |
| WAL | Western Alliance Bancorporation | -3.12% |
| AGO | Assured Guaranty Ltd | -2.91% |
| PAYX | Paychex Inc | -2.61% |
| ORCL | Oracle Corporation | -2.42% |
| KVYO | Klaviyo, Inc. | -2.26% |
| RY4D | RYANAIR HLDGS ADR NEW/5 | -2.22% |
| DKNG | DraftKings Inc | -2.21% |
To see how this fund's sectors add up across your own holdings, use True Exposure.
HDGE performance versus SPY
Total return is -92.8% over the past 15.8 years, 735.7 points behind SPY at 642.9%. Over the past year its total return — price change plus distributions reinvested — is -10.2%. Its deepest 1-year drawdown was 24.3%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | -4.5% | — |
| 3M | 0.8% | — |
| 6M | -14.9% | — |
| YTD | -8.7% | — |
| 1Y | -10.2% | — |
| 2Y CAGR | — | -5.30% |
| 3Y CAGR | — | -9.70% |
| 5Y CAGR | — | -5.70% |
| 10Y CAGR | — | -15.90% |
| Since 2011-01-27 (first price on file) · 15.8 years | -92.8% | -15.30% |
HDGE key facts
- Issuer
- AdvisorShares
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 01/26/2011
- Expense ratio
- 3.62%
- Distribution rate
- 3.81%
- Distribution frequency
- Annual
- Trailing yield
- 3.81%
- Last close
- $14.71 (as of 2026-11-06)
- AUM
- $45,296,128
- Average volume
- 27,247
- Dividend
- $0.56
- Ex-dividend date
- 12/22/2025
- Payment date
- 12/29/2025
- Beta
- -1.08
How Dividend Vision calculates yield and returns
Distribution rate (3.81%) has no calculation basis on file. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (3.81%) 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: AdvisorShares; 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.
HDGE risks and drawbacks
HDGE's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are annual, 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 24.3%.
Who may consider HDGE — and who may not
HDGE may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (HDGE pays annual); 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 HDGE
Frequently asked questions
Does HDGE pay monthly?
No. HDGE currently pays annual, not monthly.
What is HDGE's expense ratio?
HDGE's expense ratio is 3.62%.
What is HDGE's dividend yield?
HDGE's distribution rate is 3.81%, paid annual, with a 3.62% expense ratio — no calculation basis on file.
How has HDGE's dividend grown?
Trailing-12-month distributions versus the preceding 12 months changed -56.3%. That is the same adjacent TTM cash-window comparison used in the dividend-history table.
When does HDGE pay a dividend?
HDGE pays annual. The dividend amount is $0.56. The ex-dividend date is 12/22/2025. The payment date is 12/29/2025.
How has HDGE performed?
Total return is -92.8% over the past 15.8 years, 735.7 points behind SPY at 642.9%. Over the past year its total return — price change plus distributions reinvested — is -10.2%. Its deepest 1-year drawdown was 24.3%.
Is HDGE a good investment?
Its distribution rate is 3.81% (no calculation basis on file). Compare peers below rather than treating any single figure as a buy or sell.
More securities from AdvisorShares.
Tickers
It pays annual and its distribution rate is 3.81%. The latest total cash payment per current share, $0.56 with an ex-date of December 22, 2025, was 56.3% lower than the previous $1.28. It is not yet confirmed whether this is a cut to the regular payout or a one-off difference.
Sources: AdvisorShares, Section 19a-1 notices, scoring methodology.
Holdings as-of date unavailable.
| Ticker | Name | Weight |
|---|
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