HDG vs IVV
HDG vs IVV
ProShares Hedge Replication ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. HDG offers more diversification with 1963 holdings.
Side-by-Side Comparison
| Metric | HDG | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.03% | |
| AUM | $22M | $865.2B | |
| Dividend Yield | 2.36% | 1.09% | |
| Holdings | 1,988 | 508 | |
| YTD Return | +7.27% | +13.52% | |
| 1Y Return | +12.72% | +23.63% | |
| 3Y Return (annualized) | +7.03% | +21.26% | |
| 5Y Return (annualized) | +3.31% | +13.52% | |
| Volatility (annualized) | 5.7% | 15.1% | |
| Max Drawdown | -15.3% | -56.5% | |
| Fund Family | ProShares | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Jul 12, 2011 | May 15, 2000 |
HDG vs IVV Performance
ProShares Hedge Replication ETF (HDG) is a ETF from ProShares and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year HDG returned +12.72% while IVV returned +23.63%. Year to date, HDG is up 7.27% versus a gain of 13.52% for IVV.
Over three years, HDG compounded at +7.03% per year against +21.26% for IVV; over five years the annualized figures are +3.31% and +13.52% respectively. Across the full 15-year window we track, IVV has the edge at +7.04% annualized vs +2.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 5.7% for HDG. 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 -15.3% for HDG and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HDG charges 0.95% per year while IVV charges 0.03%. On a $10,000 position that is $95 vs $3 annually, a gap of $92 per year that compounds over a long holding period. On income, HDG currently yields 2.36% against 1.09% for IVV.
Holdings Overlap
HDG and IVV share 4 holdings out of 2464 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
Frequently Asked Questions
Which is cheaper, HDG or IVV?
HDG has an expense ratio of 0.95% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, HDG or IVV?
Over the past year HDG returned +12.72% vs +23.63% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (15 years), HDG annualized +2.79% vs +7.04% for IVV. Past performance does not guarantee future results.
Which is riskier, HDG or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 5.7% for HDG. Worst drawdown: HDG -15.3% vs IVV -56.5%.
Should I hold both HDG and IVV?
HDG and IVV have a monthly-return correlation of 0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HDG and IVV?
HDG and IVV share 4 common holdings with a 0.0% weight overlap. Combined, they hold 2464 unique securities.
Which pays a higher dividend, HDG or IVV?
HDG yields 2.36% while IVV yields 1.09%, so HDG currently pays the higher dividend yield.
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