HDGE Fees and Costs — AdvisorShares Ranger Equity Bear ETF
Data updated: 2026-09-10
The net expense ratio is 3.62%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $286K in broker commissions, 0.4748% of average net assets, and portfolio turnover was 624%.
HDGE Fees and Expenses
Annual operating expenses and sales charges of HDGE. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | 0.00% |
| Other expenses | 1.83% |
| Gross expense ratio | 3.62% |
| Fee waiver | — |
| Net expense ratio | 3.62% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
HDGE Costs Over Time
On $10,000 invested in HDGE, assuming 5% a year before costs, total costs come to $2,408 over 5 years, cutting the return by 4.30% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 3.62%) | $380 | $1,148 | $1,927 |
| Trading costs (broker commissions) | $50 | $151 | $253 |
| Lost growth on money paid in costs | $0 | $66 | $228 |
| Total costs | $430 | $1,365 | $2,408 |
| Value after costs | $10,070 | $10,212 | $10,355 |
| Impact on return, per year | 4.30% | 4.30% | 4.30% |
HDGE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.4748%
- Total broker commissions: $286K
- Bought from dealers (principal trades, not a cost): $390K
- Portfolio turnover (prospectus): 624%
- Securities lending: none during the year
HDGE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $286K | 100.00% |
HDGE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $390K | 100.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.