- ISIN
- US53656G2333
- CUSIP
- 53656G233
- Issuer
- Fortuna Funds
- Inception Date
- Mar 19, 2025
- Region
- Global (Global)
- Category
- Blockchain
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Cryptocurrency
Share Price Chart
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Performance
HBTC Performance Chart
Fortuna Hedged Bitcoin ETF (HBTC) is down 23.9% since the beginning of the year. HBTC is currently trading at $17 per share.
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Returns By Period
Fortuna Hedged Bitcoin ETF (HBTC) has returned -23.85% so far this year and -31.93% over the past 12 months.
Fortuna Hedged Bitcoin ETF
- 1D
- -0.62%
- 1M
- -12.69%
- YTD
- -23.85%
- 6M
- -25.46%
- 1Y
- -31.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
HBTC Monthly Returns History
Based on dividend-adjusted daily data since Mar 19, 2025, HBTC's average daily return is -0.07%, while the average monthly return is -1.42%.
Historically, 44% of months were positive and 56% were negative. The best month was Apr 2025 with a return of +9.4%, while the worst month was Nov 2025 at -10.4%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 5 months.
On a daily basis, HBTC closed higher 44% of trading days. The best single day was Mar 4, 2026 with a return of +5.8%, while the worst single day was Jan 20, 2026 at -5.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.74% | -9.93% | -1.80% | 5.67% | -5.03% | -9.95% | -23.85% | ||||||
| 2025 | -2.56% | 9.36% | 8.24% | 0.69% | 5.52% | -6.59% | 3.29% | 0.62% | -10.38% | -5.09% | 1.18% |
Benchmark Metrics
Fortuna Hedged Bitcoin ETF has an annualized alpha of -28.12%, beta of 0.69, and R2 of 0.17 versus S&P 500 Index. Calculated based on daily prices since March 19, 2025.
- This ETF participated in 211.01% of S&P 500 Index downside but only -9.32% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.69 may look defensive, but with R2 of 0.17 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.17 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -28.12%
- Beta
- 0.69
- R²
- 0.17
- Upside Capture
- -9.32%
- Downside Capture
- 211.01%
Expense Ratio
HBTC has a high expense ratio of 1.75%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
HBTC ranks 1 for risk / return — in the bottom 1% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fortuna Hedged Bitcoin ETF (HBTC) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HBTC | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.09 | ||
| Sortino ratioReturn per unit of downside risk | -4.36 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.35 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 2.66 | -3.47 |
| Martin ratioReturn relative to average drawdown | -1.50 | 11.86 | -13.36 |
Dividends
Dividend History
Fortuna Hedged Bitcoin ETF provided a 14.39% dividend yield over the last twelve months, with an annual payout of $2.50 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $2.50 | $2.50 |
Dividend yield | 14.39% | 10.96% |
Monthly Dividends
The table displays the monthly dividend distributions for Fortuna Hedged Bitcoin ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $2.50 | $2.50 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Fortuna Hedged Bitcoin ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Fortuna Hedged Bitcoin ETF was 39.86%, occurring on Jun 18, 2026. The portfolio has not yet recovered.
The current Fortuna Hedged Bitcoin ETF drawdown is 39.86%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -39.86%Jun 2026 | 10mo 8d | — | 10mo 12dAug 2025 - now |
2025 selloff2025 | -9.88%Apr 2025 | 14d | 14d | 28dMar 2025 - Apr 2025 |
2025 selloff2025 | -7.87%Jun 2025 | 13d | 1mo 6d | 1mo 19dMay 2025 - Jul 2025 |
2025 pullback2025 | -5.82%Aug 2025 | 17d | 12d | 29dJul 2025 - Aug 2025 |
2025 selloff2025 | -2.73%May 2025 | 0s | 3d | 3dMay 2025 - May 2025 |
Drawdown Indicators
| HBTC | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.86% | -56.78% | +16.92% |
Max Drawdown (1Y)Largest decline over 1 year | -39.86% | -9.10% | -30.76% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -39.86% | -2.49% | -37.37% |
Average DrawdownAverage peak-to-trough decline | -15.20% | -10.72% | -4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.64% | 2.03% | +19.61% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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