# AdvisorShares Active Bear ETF (HDGE): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/hdge for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: AdvisorShares · Asset class: Leveraged/Inverse - Strategy: Actively Managed · Inception: 2011-01-26 To fulfill its investment mandate, the Sub-Advisor systematically takes short positions in a carefully selected portfolio. This portfolio primarily consists of highly liquid U.S. exchange-traded instruments, encompassing mid- and large-capitalization equity securities, ETFs, ETNs, and other similar products. A significant portion—at least 80%—of the fund's net assets, along with any capital leveraged for investment purposes, is dedicated to these short equity exposures. The Sub-Advisor employs a rigorous, bottom-up, fundamental research-driven methodology when selecting individual securities. ## Key Facts | Metric | Value | |---|---| | Price | $14.71 | | Expense Ratio | 3.41% | | Assets Under Management | $41.9M | | NAV | $14.63 (2026-11-05 close) | | Holdings Count | 64 | | Distribution Yield (TTM) | 3.84% | | Annual Distribution (TTM) | $0.56 /share | | Distribution Frequency | Annual | | 52-Week Range | $13.77 – $18.45 | | Beta | -1.02 | ## Latest Distribution - Amount: $0.5646 /share - Ex-date: 2025-12-22 - Pay date: 2025-12-29 ## Frequently Asked Questions ### What does HDGE invest in? To fulfill its investment mandate, the Sub-Advisor systematically takes short positions in a carefully selected portfolio. This portfolio primarily consists of highly liquid U.S. exchange-traded instruments, encompassing mid- and large-capitalization equity securities, ETFs, ETNs, and other similar products. A significant portion—at least 80%—of the fund's net assets, along with any capital leveraged for investment purposes, is dedicated to these short equity exposures. The Sub-Advisor employs a rigorous, bottom-up, fundamental research-driven methodology when selecting individual securities. ### What is the expense ratio of HDGE? AdvisorShares Active Bear ETF (HDGE) charges an expense ratio of 3.41%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is HDGE? AdvisorShares Active Bear ETF (HDGE) manages $41.9M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is HDGE actively managed or an index fund? HDGE is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (HDGE's is 3.41%) in exchange for the discretion to over- or under-weight positions. ### When was HDGE launched? AdvisorShares Active Bear ETF (HDGE) launched in January 2011 and is managed by AdvisorShares. ### How has HDGE performed? HDGE's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does HDGE pay a dividend? AdvisorShares Active Bear ETF (HDGE) currently distributes little or no income. Trailing-twelve-month yield is 3.84%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does HDGE pay dividends? AdvisorShares Active Bear ETF pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is HDGE's dividend yield? HDGE's trailing-twelve-month yield is 3.84%, calculated from the sum of dividends over the past year divided by the current price. ### When is HDGE's next ex-dividend date? The most recently announced ex-dividend date for HDGE was 2025-12-22. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will HDGE's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 3.41% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does HDGE charge its expense ratio? The expense ratio is deducted in tiny daily slices from HDGE's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does HDGE cost more than a fund like VOO? HDGE is actively managed (current expense ratio 3.41%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether HDGE's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to HDGE? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as HDGE (3.41%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/hdge - Distribution history: https://www.dividenddata.com/funds/hdge/dividend - Holdings & diversification: https://www.dividenddata.com/funds/hdge/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/hdge/expenses - Peer comparison: https://www.dividenddata.com/funds/hdge/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.