HDGE

Fund Description
The investment objective of the Active Bear ETF (HDGE) is capital appreciation through short sales of domestically traded equity securities. The HDGE portfolio is sub-advised by Ranger Alternative Management L.P. The portfolio management team implements a bottom-up fundamental research driven security selection process. In selecting short positions the Fund seeks to identify securities with low earnings quality or aggressive accounting which may be intended on the part of company management to mask operational deterioration and bolster the reported earnings per share over a short time period. In addition the portfolio management team seeks to identify earnings driven events that may act as a catalyst to the price decline of a security such as downwards earnings revisions or reduced forward guidance.
Fund Profile
Fund Name Ranger Equity Bear ETF
Fund Exchange Ticker HDGE
Fund Sponsor Advisor Shares
Fund ISIN US00768Y8839
Net Expense Ratio 3.12 %
Fund Inception Date 26 January 2011
Fund Legal Structure ETF (Open end fund)
Exchange NYSE Arca
Listing Country Code US
Fund Investment Objective
ETF Type Specific US Equities - Quant Strat
Asset Class Equities (Stocks)
Index Linked Active
Index Name Not Applicable
Index Provider Not Applicable
Currency Hedged No
Inverse / Leveraged Not Applicable
Developed / Emerging Developed Market Funds
Market Capitalization Range Broad Market / Multi-Cap
Growth Value Core / Blend
Continent North America
Key Statistics
Return As of Date 15 January 2021
Asset Under Management 57.64 Million (USD)
1 Month Total Return -6.45 %
Year To Date Return -4.29 %
1 Year Total Return -43.25 %
3 Year Annualized Total Return -27.45 %
NAV 2.9
Share Outstanding 19,875,000
Top 10 Holdings (15 January 2021)
Constituent Name Constituent Ticker Constituent Type Weighting
CASH CASH
FIDELITY INSTL GOVT 657 C MMKT
AUDIOCODES LTD AUDC EQUI
WW INTERNATIONAL INC WW EQUI
OLLIE'S BARGAIN OUTLET HOLDI OLLI EQUI
CMC MATERIALS INC CCMP EQUI
ARCO PLATFORM LTD - CLASS A ARCE EQUI
3M CO MMM EQUI
PERRIGO CO PLC PRGO EQUI
ASSETMARK FINANCIAL HOLDINGS AMK EQUI