HDG ProShares Hedge Replication ETF

*Unless otherwise stated, data provided by FactSet.

HDG Fund Description

HDG tracks an index that uses long and short exposure to equity, Treasury and currency indexes, and individual securities to mimic the returns of a broad hedge fund index.

HDG Factset Analytics Insight

HDG’s index aims to emulate the risk and return characteristics of another index - one of reporting hedge funds - by crunching the return series and allocating to various liquid asset classes. To do so, the index utilizes a model to establish a weighted long or short positions each month in six underlying factors, such as (1) the S&P 500 Total Return Index, (2) the MSCI EAFE US Dollar Net Total Return Index, (3) the MSCI Emerging Markets US Dollar Net Total Return Index, (4) the Russell 2000 Total Return Index, (5) three-month U.S. Treasury Bills, and (6) the ProShares UltraShort Euro ETF. This math produces a huge stake in short-dated Treasuries, which reduces portfolio volatility but doesn’t add much else. It’s the remaining equity allocation that provides all the movement, in fact, too much so. The fund and the index does not include hedge funds as components.

PERFORMANCE [as of 10/03/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
HDG -2.04% -2.15% -11.66% -11.67% 0.53% 0.68% 1.62%
HDG (NAV) -2.51% -2.42% -11.77% -11.62% 0.46% 0.52% 1.59%
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

HDG Summary Data

ProShares
07/12/11
Open-Ended Fund
0.95%
$40.82M
$170.53K
0.45%

HDG Portfolio Data

Tactical Asset Allocation
0.08%
12/22/22
44

HDG Index Data

ICE BofAML Factor Model - Exchange Series
Multi-Factor
Multi-Factor
N/A

HDG Portfolio Management

0.95%
--
--
--

HDG Tax Exposures

20.00% / 39.60%
--
Ordinary income
No

HDG Fund Structure

Open-Ended Fund
Yes
No
-- / --
N/A
N/A
High
Daily

HDG Factset Analytics Block Liquidity

As of 10/04/22
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of HDG. HDG is rated a N/A out of 5.

HDG Tradability

3,768
$170.53K
1,699
$74.53K
0.45%
$0.21
0.00%
0.43% / -0.64%
None
99.78%
10,000
0.17
0.10%
--
0
$45.44
N/A

HDG Asset Allocation

Short
Long
Net
--
--

0.00%

--
--

0.00%

--
--

0.00%

--
--

0.00%

HDG Top 5 Holdings Long

67.87%
18.48%

HDG Top 5 Holdings Short

--

HDG Performance Statistics

-11.62%
2.04%
-3.95%
-0.09
-0.15
0.10
0.21

HDG Correlations (Daily Returns 12 Mo)

0.92
0.24
0.10