  We study optical waveguides that include layers of materials and
metamaterials with hyperbolic dispersion (HMM). We consider long-range regime
at the dielectric-HMM interface in different waveguide geometries (single
interface or symmetric cladding with different layers). In contrast to the
traditional analysis of geometrical parameters, we make emphasis on optical
properties of constituent materials, and by solving dispersion equations,
analyze how dielectric and HMM permittivities affect propagation length and
mode size. We derive a figure of merits that should be used for each waveguide
in a broad range of permittivity values as well as compare them with plasmonic
waveguides. We show conventional plasmonic quality factor, which is the ratio
of real to imaginary parts of permittivity, is not applicable to the case of
waveguides with complex structure. Both telecommunication wavelengths and
mid-infrared spectral ranges are of interest considering recent advances in van
der Waals materials such as hexagonal boron nitride. Finally, we evaluate the
performance of the waveguides with hexagonal boron nitride in the range where
it possesses hyperbolic dispersion (6.2-7.3 um), and we identify the optimum
wavelength for each type of the waveguide.
