HDG vs OWNB

Comparison between PROSHARES HEDGE REPLICATION ETF (HDG, ETF) and BITWISE BITCOIN STANDARD CORPORATIONS ETF (OWNB, ETF).

HDG vs OWNB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HDG(ETF)	OWNB(ETF)
Net Assets	$22M	$22M
Expense Ratio	0.95%	0.85%
Max Drawdown	15.31%	59.77%
Sharpe Ratio	1.30	-0.52
5Y Beta	0.32	2.13
P/E Ratio	N/A	-77.69
Forward P/E	N/A	3.00
5Y Dividends CAGR	106.61%	N/A
Debt to Equity	N/A	62.68%
P/S Ratio	N/A	3.64
P/B Ratio	N/A	1.80

Net Assets

Winner

HDG

$22M

OWNB

$22M

Expense Ratio

HDG

0.95%

Winner

OWNB

0.85%

Max Drawdown

Winner

HDG

15.31%

OWNB

59.77%

Sharpe Ratio

Winner

HDG

1.30

OWNB

-0.52

5Y Beta

Winner

HDG

0.32

OWNB

2.13

P/E Ratio

HDG

N/A

OWNB

-77.69

Forward P/E

HDG

N/A

OWNB

3.00

5Y Dividends CAGR

HDG

106.61%

OWNB

N/A

Debt to Equity

HDG

N/A

OWNB

62.68%

P/S Ratio

HDG

N/A

OWNB

3.64

P/B Ratio

HDG

N/A

OWNB

1.80

HDG vs OWNB - Holdings Comparison

HDG and OWNB have 7 common holdings. Overlap is 0.06%

HDG's top 25 holdings weight is 21.14%. OWNB's top 25 holdings weight is 95.39%.

Rank	HDG	OWNB
#1	CTE PROSHARES TRUST M (n/a) - 14.55%	STRATEGY INC CLASS A (MSTR) - 19.22%
#2	MSCI EAFE INDEX (EFA) SWAP (n/a) - 2.16%	MARA HOLDINGS INC (MARA) - 10.19%
#3	CASH (n/a) - 2.09%	HUT 8 CORP (HUT) - 6.63%
#4	MSCI EMERGING MARKETS INDEX (EEM) SWAP (n/a) - 0.80%	RIOT PLATFORMS INC (RIOT) - 6.07%
#5	S&P 500 INDEX SWAP (n/a) - 0.30%	TWENTY ONE CAPITAL INC CLASS A (XXI) - 5.91%
#6	U.S. DOLLAR FOR FUTURES (n/a) - 0.17%	STRIVE INC CLASS A (ASST) - 5.81%
#7	BLOOM ENERGY CORP CLASS A (BE) - 0.13%	CLEANSPARK INC (CLSK) - 5.56%
#8	CREDO TECHNOLOGY GROUP HOLDING LTD (CRDO) - 0.08%	METAPLANET INC (n/a) - 3.78%
#9	FABRINET (FN) - 0.07%	KEEL INFRASTRUCTURE CORP (KEEL) - 3.10%
#10	NEXTPOWER INC CLASS A (NXT) - 0.07%	EMPERY DIGITAL INC (EMPD) - 2.65%
#11	ECHOSTAR CORP CLASS A (SATS) - 0.06%	BITDEER TECHNOLOGIES GROUP ORDINARY SHARES CLASS A (BTDR) - 2.54%
#12	HECLA MINING CO (HL) - 0.06%	AMERICAN BITCOIN CORP (ABTC) - 2.44%
#13	KRATOS DEFENSE & SECURITY SOLUTIONS INC (KTOS) - 0.06%	TRUMP MEDIA & TECHNOLOGY GROUP CORP (DJT) - 2.32%
#14	COEUR MINING INC (CDE) - 0.06%	CORE SCIENTIFIC INC ORDINARY SHARES NEW (CORZ) - 2.17%
#15	BRIDGEBIO PHARMA INC (BBIO) - 0.05%	CIPHER DIGITAL INC (CIFR) - 2.07%
#16	MODINE MANUFACTURING CO (MOD) - 0.05%	BOYAA INTERACTIVE INTERNATIONAL LTD (n/a) - 2.01%
#17	ADVANCED ENERGY INDUSTRIES INC (AEIS) - 0.05%	REMIXPOINT INC (n/a) - 1.80%
#18	ENSIGN GROUP INC (ENSG) - 0.05%	GALAXY DIGITAL INC ORDINARY SHARES CLASS A (GLXY) - 1.75%
#19	n/a (HASI) - 0.04%	CAPITAL B (n/a) - 1.69%
#20	TG THERAPEUTICS INC (TGTX) - 0.04%	CANGO INC CLASS A (CANG) - 1.42%
#21	GENWORTH FINANCIAL INC (GNW) - 0.04%	TESLA INC (TSLA) - 1.34%
#22	IRHYTHM HOLDINGS INC (IRTC) - 0.04%	EXODUS MOVEMENT INC CLASS A (EXOD) - 1.31%
#23	CHAMPION HOMES INC (SKY) - 0.04%	BLOCK INC CLASS A (XYZ) - 1.28%
#24	ICU MEDICAL INC (ICUI) - 0.04%	BULLISH (BLSH) - 1.21%
#25	TERAWULF INC (WULF) - 0.04%	COINBASE GLOBAL INC ORDINARY SHARES CLASS A (COIN) - 1.12%
Total Holdings	1778	35

HDG vs OWNB - Historical Returns

Returns include dividend reinvestment.

Period	HDG	OWNB
1 month	-0.40%	-14.83%
3 months	+3.79%	+0.02%
6 months	+5.25%	-24.39%
1 year	+11.74%	-32.69%
5 years(CAGR)	+2.76%	N/A
10 years(CAGR)	+3.74%	N/A
Max(CAGR)	+2.86%	-11.88%

Winner

HDG

-0.40%

OWNB

-14.83%

Winner

HDG

+3.79%

OWNB

+0.02%

Winner

HDG

+5.25%

OWNB

-24.39%

Winner

HDG

+11.74%

OWNB

-32.69%

5Y(CAGR)

HDG

+2.76%

OWNB

N/A

10Y(CAGR)

HDG

+3.74%

OWNB

N/A

Max(CAGR)

Winner

HDG

+2.86%

OWNB

-11.88%

HDG vs OWNB - Annual Returns (2011 - 2026)

Returns include dividend reinvestment.

Year	HDG	OWNB
2026	+4.84%	-16.57%
2025	+7.20%	-3.57%
2024	+5.48%	N/A
2023	+6.75%	N/A
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 OWNB Drawdown Comparison

The maximum drawdown for HDG was -15.31%, occurring on Sep 29, 2022. Recovery took 722 trading sessions.

The maximum drawdown for OWNB was -59.47%, occurring on Mar 30, 2026. This drawdown has not yet recovered.

The current HDG drawdown is -1.62%. The current OWNB drawdown is -50.03%.

Rank	HDG	OWNB
#1	-15.31% Nov 8, 2021 - Sep 24, 2024	-59.47% Oct 15, 2025 - Mar 30, 2026
#2	-13.76% Feb 14, 2020 - Nov 5, 2020	-28.43% Mar 24, 2025 - May 8, 2025
#3	-7.83% Jul 21, 2011 - Jan 2, 2013	-22.47% Jul 16, 2025 - Oct 6, 2025
#4	-7.82% May 21, 2015 - Feb 15, 2017	-17.71% May 21, 2025 - Jul 2, 2025
#5	-7.43% Jan 26, 2018 - Oct 21, 2019	-6.69% Oct 6, 2025 - Oct 15, 2025
#6	-7.20% Feb 18, 2025 - Jul 3, 2025	-6.12% May 13, 2025 - May 19, 2025
#7	-3.97% Feb 25, 2026 - Apr 16, 2026	-4.43% Mar 17, 2025 - Mar 19, 2025
#8	-3.78% May 21, 2013 - Sep 18, 2013	-3.64% Jul 14, 2025 - Jul 16, 2025
#9	-3.67% Mar 15, 2021 - Nov 5, 2021	-3.42% Jul 3, 2025 - Jul 9, 2025
#10	-3.41% Sep 3, 2014 - Feb 4, 2015	-3.35% Mar 12, 2025 - Mar 14, 2025
#11	-2.92% Feb 9, 2021 - Mar 15, 2021	-0.20% Mar 19, 2025 - Mar 21, 2025
#12	-2.72% Oct 31, 2013 - Apr 2, 2014	N/A
#13	-2.21% Oct 27, 2025 - Dec 10, 2025	N/A
#14	-1.81% Jan 14, 2021 - Feb 4, 2021	N/A
#15	-1.73% Dec 4, 2024 - Jan 30, 2025	N/A

Correlation

Correlation between HDG and OWNB is -0.46 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.46

-101