AdvisorShares Ranger Equity Bear ETF
HDGE
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 4800 Montgomery Lane, Suite 150 Bethesda MD United States of America 20814
- IPO Date
- Jan 27, 2011
- CIK
- 0001408970
- Website
- advisorshares.com
- Similar Companies
- Business
- AdvisorShares Ranger Equity Bear ETF (NYSE Arca: HDGE) is an actively managed exchange-traded fund that seeks capital appreciation primarily through short sales of domestically traded equity securities of U.S.-listed companies. The fund employs a bottom-up, fundamental research-driven process sub-advised by Ranger Alternative Management, L.P., utilizing forensic accounting techniques to identify securities exhibiting low earnings quality, aggressive accounting practices, or operational deterioration that may mask underlying issues and bolster short-term earnings per share; it also targets earnings-driven catalysts such as downward revisions or reduced guidance. HDGE typically maintains a diversified portfolio of 20-75 short positions in liquid mid- and large-cap equities across diversified sectors including financial services, consumer cyclical, technology, and industrials, with individual position sizes averaging 2% to 7% of portfolio exposure; top short holdings as of recent data include SPDR S&P Regional Banking ETF, Stanley Black & Decker Inc., Bank OZK, and Credit Acceptance Corp., alongside significant cash and money market allocations for collateral. The fund offers options trading availability and is suitable for hedging long equity exposure when paired with long-index ETFs, diversified portfolio construction, or tactical short strategies in bearish market conditions. Launched on January 26, 2011, and domiciled in the United States, HDGE is issued by AdvisorShares Trust and managed by AdvisorShares Investments, LLC, headquartered in Bethesda, Maryland. The fund's portfolio managers, John Del Vecchio, CFA, and Brad H. Lamensdorf of Ranger Alternative Management, bring extensive short-selling experience, including prior roles in forensic accounting analysis and hedge fund management. It benchmarks performance against the S&P 500 Index, with a net expense ratio of approximately 1.85% (contractually capped, including acquired fund fees and short interest expenses). In recent developments, HDGE delivered positive returns in the first quarter of 2025 at 8.81% (NAV) amid an S&P 500 decline of 4.27%, followed by a -5.07% return in the second quarter as markets rallied, reflecting its inverse equity orientation; year-to-date through November 2025, it posted modest gains of around 3.31% (NAV). The fund declared a $0.10 per share dividend in 2025, maintaining its distribution history, with no reported major partnerships, acquisitions, funding rounds, or structural changes for AdvisorShares or Ranger Alternative Management in the last 1-2 years; portfolio adjustments continue via ongoing forensic screening of short candidates like regional banks and consumer firms. Assets under management stood at approximately $63 million as of December 2025, traded on NYSE Arca with daily liquidity.