HDG vs CVRT
Comparison between PROSHARES HEDGE REPLICATION ETF (HDG, ETF) and Calamos Convertible Equity Alternative ETF (CVRT, ETF).
HDG vs CVRT - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
HDG
$22M
CVRT
$22M
Expense Ratio
HDG
0.95%
Winner
CVRT
0.69%
Max Drawdown
Winner
HDG
15.31%
CVRT
21.13%
Sharpe Ratio
HDG
1.30
Winner
CVRT
2.26
5Y Beta
Winner
HDG
0.32
CVRT
1.00
5Y Dividends CAGR
HDG
106.61%
CVRT
N/A
HDG vs CVRT - Historical Returns
Returns include dividend reinvestment.
1M
HDG
-0.40%
Winner
CVRT
+0.80%
3M
HDG
+3.79%
Winner
CVRT
+21.19%
6M
HDG
+5.25%
Winner
CVRT
+32.64%
1Y
HDG
+11.74%
Winner
CVRT
+66.84%
5Y(CAGR)
HDG
+2.76%
CVRT
N/A
10Y(CAGR)
HDG
+3.74%
CVRT
N/A
Max(CAGR)
HDG
+2.86%
Winner
CVRT
+33.66%
HDG vs CVRT - Annual Returns (2011 - 2026)
Returns include dividend reinvestment.
| Year | HDG | CVRT |
|---|---|---|
| 2026 | +4.84% | +30.09% |
| 2025 | +7.20% | +29.40% |
| 2024 | +5.48% | +16.12% |
| 2023 | +6.75% | +11.01% |
| 2022 | -8.65% | N/A |
| 2021 | +3.46% | N/A |
| 2020 | +7.08% | N/A |
| 2019 | +9.83% | N/A |
| 2018 | -4.79% | N/A |
| 2017 | +5.32% | N/A |
| 2016 | +2.87% | N/A |
| 2015 | -0.06% | N/A |
| 2014 | +2.04% | N/A |
| 2013 | +3.33% | N/A |
| 2012 | +2.38% | N/A |
| 2011 | -3.01% | N/A |
HDG vs CVRT Drawdown Comparison
The maximum drawdown for HDG was -15.31%, occurring on Sep 29, 2022. Recovery took 722 trading sessions.
The maximum drawdown for CVRT was -20.71%, occurring on Apr 8, 2025. Recovery took 149 trading sessions.
The current HDG drawdown is -1.62%. The current CVRT drawdown is -6.47%.
| Rank | HDG | CVRT |
|---|---|---|
| #1 | -15.31% Nov 8, 2021 - Sep 24, 2024 | -20.71% Nov 29, 2024 - Jul 9, 2025 |
| #2 | -13.76% Feb 14, 2020 - Nov 5, 2020 | -9.41% Jul 16, 2024 - Sep 19, 2024 |
| #3 | -7.83% Jul 21, 2011 - Jan 2, 2013 | -8.60% Feb 25, 2026 - Apr 8, 2026 |
| #4 | -7.82% May 21, 2015 - Feb 15, 2017 | -8.52% Oct 11, 2023 - Nov 29, 2023 |
| #5 | -7.43% Jan 26, 2018 - Oct 21, 2019 | -7.97% Mar 27, 2024 - Jul 16, 2024 |
| #6 | -7.20% Feb 18, 2025 - Jul 3, 2025 | -7.52% Nov 10, 2025 - Dec 10, 2025 |
| #7 | -3.97% Feb 25, 2026 - Apr 16, 2026 | -6.47% Jun 2, 2026 - Jun 5, 2026 |
| #8 | -3.78% May 21, 2013 - Sep 18, 2013 | -6.24% Feb 12, 2024 - Mar 4, 2024 |
| #9 | -3.67% Mar 15, 2021 - Nov 5, 2021 | -6.16% May 11, 2026 - May 29, 2026 |
| #10 | -3.41% Sep 3, 2014 - Feb 4, 2015 | -5.22% Jan 28, 2026 - Feb 6, 2026 |
| #11 | -2.92% Feb 9, 2021 - Mar 15, 2021 | -5.02% Dec 26, 2023 - Feb 9, 2024 |
| #12 | -2.72% Oct 31, 2013 - Apr 2, 2014 | -4.73% Dec 11, 2025 - Jan 5, 2026 |
| #13 | -2.21% Oct 27, 2025 - Dec 10, 2025 | -4.05% Oct 15, 2025 - Oct 27, 2025 |
| #14 | -1.81% Jan 14, 2021 - Feb 4, 2021 | -3.21% Nov 3, 2025 - Nov 10, 2025 |
| #15 | -1.73% Dec 4, 2024 - Jan 30, 2025 | -3.09% Jul 17, 2025 - Aug 22, 2025 |
Correlation
Correlation between HDG and CVRT is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.
0.97
-101
Dividend Comparison (2012 - 2026)
HDG vs CVRT dividend yield comparison.
| Year | HDG | CVRT |
|---|---|---|
| 2026 | 0.51% | 0.47% |
| 2025 | 2.55% | 1.68% |
| 2024 | 3.50% | 1.49% |
| 2023 | 3.48% | 0.32% |
| 2022 | 0.39% | 0.00% |
| 2020 | 0.08% | 0.00% |
| 2019 | 1.09% | 0.00% |
| 2018 | 0.51% | 0.00% |
| 2015 | 0.00% | 0.00% |
| 2012 | 0.13% | 0.00% |
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