OWNB vs HDG

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

OWNB vs HDG - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

OWNB

$22M

Winner

HDG

$22M

Expense Ratio

Winner

OWNB

0.85%

HDG

0.95%

Max Drawdown

OWNB

59.77%

Winner

HDG

15.31%

Sharpe Ratio

OWNB

-0.52

Winner

HDG

1.30

5Y Beta

OWNB

2.13

Winner

HDG

0.32

P/E Ratio

OWNB

-77.69

HDG

N/A

Forward P/E

OWNB

3.00

HDG

N/A

5Y Dividends CAGR

OWNB

N/A

HDG

106.61%

Debt to Equity

OWNB

62.68%

HDG

N/A

P/S Ratio

OWNB

3.64

HDG

N/A

P/B Ratio

OWNB

1.80

HDG

N/A

OWNB vs HDG - Holdings Comparison

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

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

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

OWNB vs HDG - Historical Returns

Returns include dividend reinvestment.

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

OWNB

-14.83%

Winner

HDG

-0.40%

OWNB

+0.02%

Winner

HDG

+3.79%

OWNB

-24.39%

Winner

HDG

+5.25%

OWNB

-32.69%

Winner

HDG

+11.74%

5Y(CAGR)

OWNB

N/A

HDG

+2.76%

10Y(CAGR)

OWNB

N/A

HDG

+3.74%

Max(CAGR)

OWNB

-11.88%

Winner

HDG

+2.86%

OWNB vs HDG - Annual Returns (2011 - 2026)

Returns include dividend reinvestment.

Year	OWNB	HDG
2026	-16.57%	+4.84%
2025	-3.57%	+7.20%
2024	N/A	+5.48%
2023	N/A	+6.75%
2022	N/A	-8.65%
2021	N/A	+3.46%
2020	N/A	+7.08%
2019	N/A	+9.83%
2018	N/A	-4.79%
2017	N/A	+5.32%
2016	N/A	+2.87%
2015	N/A	-0.06%
2014	N/A	+2.04%
2013	N/A	+3.33%
2012	N/A	+2.38%
2011	N/A	-3.01%

OWNB vs HDG Drawdown Comparison

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

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

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

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

Correlation

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

-0.46

-101