Which did better when the S&P 500 fell, CCOR or HEDG?

In the 25 weeks the S&P 500 fell, by 1.10% a week on average, CCOR averaged +0.01% and HEDG −0.21%, so CCOR returned more in those weeks.

Which earned more than cash, CCOR or HEDG?

Over the same weeks, CCOR finished 1.8 percentage points behind cash and HEDG finished 5.8 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.

Which is cheaper, CCOR or HEDG?

CCOR charges 1.16% a year and HEDG charges 0.96%, so HEDG is cheaper. Fees come from each fund's prospectus.

Data as of Oct 27, 2026.

Alternative ETFs

CCOR vs HEDG: Correlation to the S&P 500

Over the year to Oct 27, 2026, CCOR moved less with the S&P 500 than HEDG: correlation +0.01 against +0.85.

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Net assets on Jul 31, 2026: $28m for Core Alternative ETF and $427m for Equable Shares Hedged Equity ETF.

CCOR on its own →HEDG on its own →

At a glance

+0.01

CCOR correlation with the S&P 500

+0.85

HEDG correlation with the S&P 500

−0.7%

CCOR down-week capture

19.4%

HEDG down-week capture

CCOR Rose when the S&P 500 fell

CCOR in the 25 weeks SPY fell, year to Oct 27, 2026: SPY averaged −1.10%, CCOR +0.01%.

HEDG Fell 19% as much as the S&P 500

HEDG in the 25 weeks SPY fell, year to Oct 27, 2026: SPY averaged −1.10%, HEDG −0.21%.

Pair scorecard

HEDG costs 0.20 points a year less; their one-year returns differ by 8.3 points; HEDG is 15.3 times larger.

CCOR vs HEDG: Correlation to the S&P 500
Measure	CCOR	HEDG
Return
Measure	CCOR	HEDG
Total return, 1 year	+1.1%	+9.4%
Against its benchmark
Measure	CCOR	HEDG
Treasury bills, 52 weeks	+3.7%
Cost and size
Measure	CCOR	HEDG
Expense ratio	1.16%	0.96%
Net assets, as of Jul 31, 2026	$28m	$427m
Holdings
Measure	CCOR	HEDG
Holdings in common	not published
Risk
Measure	CCOR	HEDG
Beta to the S&P 500	+0.01: about 0.01% for each 1%	+0.28: about 0.28% for each 1%
Its average week when the S&P 500 fell	rose 0.01%	fell 0.21%

ETFIQ Stock Diversification Score · CCOR scores higher How much does it diversify a stock portfolio?

IQ Alternatives Score84.1CCOR70.5HEDG

How much it diversifies a stock portfolio, ranked against 22 equity hedged alternatives ETFs with a full year. 100 is best. How it is computed

CCOR 84.1

HEDG 70.5

8.0, the lowest in this set 97.7, the highest

A percentile among the 22 equity hedged alternatives ETFs with a full year. One year of weekly moves against the S&P 500, within one strategy; it ignores what the fund returned. All alternatives ETFs ranked by it →

Method

Window by window

Window by window: CCOR vs HEDG: Correlation to the S&P 500
	Total return		vs its benchmark
Window	CCOR	HEDG	CCOR	HEDG
3 months	−1.1%	+3.5%	not measured	−0.7 pts vs VOO
6 months	+2.1%	+5.4%	not measured	−3.3 pts vs VOO
1 year	+1.1%	+9.4%	not measured	−4.2 pts vs VOO
3 years	−3.8%	–	not measured	–
Since launchNot the same days: CCOR May 2017 · HEDG Oct 2025	+16.9%	+10.6%	not measured	−6.8 pts vs VOO

Source: ETFIQ. – means no data for this window. Open this comparison in the app →

Side by side

CCOR Core Alternative ETF · Hedged equity fund: owns stocks and pays for protection against a fall, most often with put options HEDG Equable Shares Hedged Equity ETF · Hedged equity fund: owns stocks and pays for protection against a fall, most often with put options

Issuer Core Alternative Equable Shares

Strategy Hedged equity Hedged equity

Correlation with the S&P 500 +0.01 +0.85

Beta to the S&P 500 +0.01 +0.28

Down-week capture −0.7% 19.4%

Average week when the S&P 500 fell +0.01% −0.21%

The S&P 500 in those weeks −1.10% −1.10%

Total return, same 52 weeks +1.9% +9.4%

Against T-bills, percentage points −1.8 pts +5.8 pts

Expense ratio 1.16% 0.96%

First traded May 24, 2017 Oct 13, 2025

Net assets, as of Jul 31, 2026 $28m $427m

As of Oct 27, 2026. Source: ETFIQ.

One strategy, two funds

CCOR and HEDG both run a hedged equity strategy. Over the same 52 weeks to Oct 27, 2026, CCOR’s weekly returns had a correlation of +0.01 with the S&P 500 and HEDG’s +0.85. In the 25 weeks the index fell, by 1.10% a week on average, CCOR averaged +0.01% and HEDG −0.21%. Over the same weeks, CCOR finished 1.8 percentage points behind cash and HEDG finished 5.8 points ahead of cash.

Alert

About each fund

CCOR

CCOR is a hedged equity fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Oct 27, 2026, its weekly returns had a correlation of +0.01 with the S&P 500’s and a beta of +0.01, so for each 1% the index moved it moved about 0.01% the same way. The S&P 500 fell in 25 of those 52 weeks, by 1.10% on average. In the same weeks CCOR rose 0.01% on average, a down-week capture of −0.7%. Over the same 52 weeks CCOR returned +1.9% and a Treasury bill fund +3.7%, so it finished 1.8 percentage points behind cash.

HEDG

HEDG is a hedged equity fund. Over the year to Oct 27, 2026, its weekly returns had a correlation of +0.85 with the S&P 500’s and a beta of +0.28, so for each 1% the index moved it moved about 0.28% the same way. In the same weeks HEDG fell 0.21% on average, a down-week capture of 19.4%. Over the same 52 weeks HEDG returned +9.4% and a Treasury bill fund +3.7%, so it finished 5.8 percentage points ahead of cash.

Questions people ask

Which moved less with the S&P 500, CCOR or HEDG?: Over the 52 weeks to Oct 27, 2026, CCOR’s weekly returns had a correlation of +0.01 with the S&P 500 and HEDG’s +0.85, so CCOR moved less with the index.
Which did better when the S&P 500 fell, CCOR or HEDG?: In the 25 weeks the S&P 500 fell, by 1.10% a week on average, CCOR averaged +0.01% and HEDG −0.21%, so CCOR returned more in those weeks.
Which earned more than cash, CCOR or HEDG?: Over the same weeks, CCOR finished 1.8 percentage points behind cash and HEDG finished 5.8 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
Which is cheaper, CCOR or HEDG?: CCOR charges 1.16% a year and HEDG charges 0.96%, so HEDG is cheaper. Fees come from each fund's prospectus.

Other comparisons

CCOR vs FHEQ CCOR vs KSPY CCOR vs TOAK CCOR vs QBER HEDG vs HEQQ HEDG vs HEGD HEDG vs QBUL HEDG vs ZHDG

Where to next

BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →CCOR on its own →HEDG on its own →CCOR dividend history →HEDG dividend history →Method →Standards and sources →

Sources and dates

CCOR filings on SEC EDGAR ↗

CCOR prospectus with the expense ratio (SEC) ↗

Core Alternative website ↗

HEDG filings on SEC EDGAR ↗

HEDG prospectus with the expense ratio (SEC) ↗

Equable Shares website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, CCOR against HEDG, data as of Oct 27, 2026. https://etfiq.com/compare/alternatives/ccor-vs-hedg

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