PIPE vs HDGE
Comparison between Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE, ETF) and ADVISORSHARES RANGER EQUITY BEAR ETF (HDGE, ETF).
PIPE vs HDGE - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
PIPE
$63M
Winner
HDGE
$63M
Expense Ratio
Winner
PIPE
0.75%
HDGE
3.62%
Max Drawdown
Winner
PIPE
15.69%
HDGE
94.83%
Sharpe Ratio
Winner
PIPE
1.65
HDGE
-0.15
5Y Beta
PIPE
0.49
Winner
HDGE
-0.79
P/E Ratio
PIPE
27.30
HDGE
N/A
Forward P/E
PIPE
17.54
HDGE
N/A
PEG Ratio
PIPE
1.00
HDGE
N/A
5Y Dividends CAGR
PIPE
N/A
HDGE
72.63%
P/S Ratio
PIPE
0.76
HDGE
N/A
P/B Ratio
PIPE
3.59
HDGE
N/A
PIPE vs HDGE - Holdings Comparison
PIPE and HDGE have 1 common holdings. Overlap is -2.34%
PIPE's top 25 holdings weight is 99.18%. HDGE's top 25 holdings weight is 116.07%.
| Rank | PIPE | HDGE |
|---|---|---|
| #1 | TARGA RESOURCES CORP (TRGP) - 7.66% | CASH (n/a) - 79.90% |
| #2 | WILLIAMS COMPANIES INC (WMB) - 6.55% | FIDELITY INSTL GOVT 657 C (n/a) - 60.39% |
| #3 | TC ENERGY CORP (n/a) - 5.96% | BLACKROCK FEDERAL FD 30 INSTL (n/a) - 3.22% |
| #4 | PLAINS GP HOLDINGS LP CLASS A (PAGP) - 5.85% | COGENT COMMUNICATIONS HOLDINGS INC (CCOI) - -0.80% |
| #5 | ONEOK INC (OKE) - 4.96% | E.L.F. BEAUTY INC (ELF) - -0.80% |
| #6 | KODIAK GAS SERVICES INC (KGS) - 4.85% | PROCORE TECHNOLOGIES INC (PCOR) - -0.81% |
| #7 | CHENIERE ENERGY INC (LNG) - 4.82% | VERISK ANALYTICS INC (VRSK) - -1.10% |
| #8 | PEMBINA PIPELINE CORP (n/a) - 4.62% | ALBERTSONS COMPANIES INC CLASS A (ACI) - -1.20% |
| #9 | KINDER MORGAN INC CLASS P (KMI) - 4.57% | ABM INDUSTRIES INC (ABM) - -1.21% |
| #10 | ENBRIDGE INC (n/a) - 4.50% | MONRO INC (MNRO) - -1.21% |
| #11 | ENERGY TRANSFER LP (ET) - 4.47% | WELLS FARGO & CO (WFC) - -1.22% |
| #12 | KEYERA CORP (n/a) - 4.35% | WESTERN ALLIANCE BANCORP (WAL) - -1.23% |
| #13 | ENTERPRISE PRODUCTS PARTNERS LP (EPD) - 4.28% | RADNET INC (RDNT) - -1.25% |
| #14 | MPLX LP PARTNERSHIP UNITS (MPLX) - 3.84% | ADT INC (ADT) - -1.31% |
| #15 | SOUTH BOW CORP (SOBO) - 3.54% | BOOT BARN HOLDINGS INC (BOOT) - -1.32% |
| #16 | GENESIS ENERGY LP (GEL) - 3.46% | THOMSON REUTERS CORP (TRI) - -1.33% |
| #17 | ANTERO MIDSTREAM CORP (AM) - 3.21% | EAGLE MATERIALS INC (EXP) - -1.34% |
| #18 | SUNOCOCORP LLC COMMON UNITS (SUNC) - 3.04% | ACI WORLDWIDE INC (ACIW) - -1.35% |
| #19 | KINETIK HOLDINGS INC (KNTK) - 2.75% | EXPONENT INC (EXPO) - -1.35% |
| #20 | WESTERN MIDSTREAM PARTNERS LP (WES) - 2.61% | PAYMENTUS HOLDINGS INC CLASS A (PAY) - -1.38% |
| #21 | DT MIDSTREAM INC ORDINARY SHARES (DTM) - 2.40% | BXP INC (BXP) - -1.41% |
| #22 | ARCHROCK INC (AROC) - 2.30% | SYNCHRONY FINANCIAL (SYF) - -1.42% |
| #23 | ALTAGAS LTD (n/a) - 1.92% | BATH & BODY WORKS INC (BBWI) - -1.44% |
| #24 | HESS MIDSTREAM LP CLASS A (HESM) - 1.58% | ASBURY AUTOMOTIVE GROUP INC (ABG) - -1.46% |
| #25 | GIBSON ENERGY INC (n/a) - 1.09% | Q2 HOLDINGS INC (QTWO) - -1.50% |
| Total Holdings | 26 | 57 |
PIPE vs HDGE - Historical Returns
Returns include dividend reinvestment.
1M
Winner
PIPE
+0.48%
HDGE
-4.60%
3M
Winner
PIPE
+5.56%
HDGE
-8.47%
6M
Winner
PIPE
+27.45%
HDGE
+4.76%
1Y
Winner
PIPE
+29.24%
HDGE
-1.15%
5Y(CAGR)
PIPE
N/A
HDGE
-3.00%
10Y(CAGR)
PIPE
N/A
HDGE
-15.25%
Max(CAGR)
Winner
PIPE
+20.43%
HDGE
-15.06%
PIPE vs HDGE - Annual Returns (2011 - 2026)
Returns include dividend reinvestment.
| Year | PIPE | HDGE |
|---|---|---|
| 2026 | +26.10% | +1.73% |
| 2025 | +0.16% | +1.31% |
| 2024 | N/A | -8.56% |
| 2023 | N/A | -27.57% |
| 2022 | N/A | +17.59% |
| 2021 | N/A | -19.94% |
| 2020 | N/A | -43.36% |
| 2019 | N/A | -36.05% |
| 2018 | N/A | +8.77% |
| 2017 | N/A | -14.78% |
| 2016 | N/A | -15.25% |
| 2015 | N/A | -6.27% |
| 2014 | N/A | -11.12% |
| 2013 | N/A | -28.60% |
| 2012 | N/A | -25.75% |
| 2011 | N/A | +0.88% |
PIPE vs HDGE Drawdown Comparison
The maximum drawdown for PIPE was -15.69%, occurring on Apr 8, 2025. Recovery took 201 trading sessions.
The maximum drawdown for HDGE was -93.87%, occurring on Jan 21, 2025. This drawdown has not yet recovered.
The current PIPE drawdown is -4.11%. The current HDGE drawdown is -93.26%.
| Rank | PIPE | HDGE |
|---|---|---|
| #1 | -15.69% Apr 2, 2025 - Jan 21, 2026 | -93.87% Oct 3, 2011 - Jan 21, 2025 |
| #2 | -7.21% May 19, 2026 - May 29, 2026 | -14.93% Jan 28, 2011 - Aug 4, 2011 |
| #3 | -5.80% Feb 20, 2025 - Mar 17, 2025 | -9.43% Aug 22, 2011 - Sep 22, 2011 |
| #4 | -5.61% Mar 30, 2026 - Apr 30, 2026 | -6.69% Aug 10, 2011 - Aug 19, 2011 |
| #5 | -3.63% Apr 30, 2026 - May 14, 2026 | -6.11% Sep 22, 2011 - Oct 3, 2011 |
| #6 | -1.78% Mar 2, 2026 - Mar 19, 2026 | -2.75% Aug 8, 2011 - Aug 10, 2011 |
| #7 | -1.48% Mar 24, 2025 - Apr 2, 2025 | N/A |
| #8 | -1.41% Jan 29, 2026 - Feb 3, 2026 | N/A |
| #9 | -0.88% Mar 20, 2025 - Mar 24, 2025 | N/A |
| #10 | -0.61% Mar 19, 2026 - Mar 23, 2026 | N/A |
| #11 | -0.37% Feb 13, 2026 - Feb 19, 2026 | N/A |
| #12 | -0.16% Feb 11, 2026 - Feb 13, 2026 | N/A |
| #13 | -0.16% Feb 23, 2026 - Feb 26, 2026 | N/A |
| #14 | -0.12% Mar 26, 2026 - Mar 30, 2026 | N/A |
| #15 | -0.09% Mar 17, 2025 - Mar 19, 2025 | N/A |
Correlation
Correlation between PIPE and HDGE is 0.25 which considered as a very weak or no correlation - the stocks move independently of each other.
0.25
-101
Dividend Comparison (2019 - 2026)
PIPE vs HDGE dividend yield comparison.
| Year | PIPE | HDGE |
|---|---|---|
| 2026 | 1.59% | 0.00% |
| 2025 | 3.74% | 3.50% |
| 2024 | 0.00% | 7.83% |
| 2023 | 0.00% | 9.58% |
| 2019 | 0.00% | 0.22% |
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