- ISIN
- US26923Q4165
- CUSIP
- 26923Q416
- Issuer
- Hedgeye
- Inception Date
- Nov 20, 2025
- Category
- Long-Short
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $9M
Share Price Chart
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Performance
HEFT Performance Chart
Hedgeye Fourth Turning ETF (HEFT) is up 7.9% since the beginning of the year. HEFT is currently trading at $27 per share.
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Returns By Period
Hedgeye Fourth Turning ETF
- 1D
- -0.02%
- 1M
- 4.12%
- YTD
- 7.91%
- 6M
- 7.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
HEFT Monthly Returns History
Based on dividend-adjusted daily data since Nov 21, 2025, HEFT's average daily return is +0.07%, while the average monthly return is +1.12%. At this rate, an investment would double in approximately 5.2 years.
Historically, 63% of months were positive and 38% were negative. The best month was Jan 2026 with a return of +7.2%, while the worst month was Mar 2026 at -3.2%. The longest winning streak lasted 2 consecutive months, and the longest losing streak was 2 months.
On a daily basis, HEFT closed higher 56% of trading days. The best single day was Feb 3, 2026 with a return of +2.0%, while the worst single day was Jan 30, 2026 at -3.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.16% | 1.49% | -3.18% | -1.52% | 2.88% | 1.15% | 7.91% | ||||||
| 2025 | 1.64% | -0.65% | 0.98% |
Benchmark Metrics
Hedgeye Fourth Turning ETF has an annualized alpha of 11.10%, beta of 0.25, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since November 24, 2025.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (41.94%) than losses (20.91%) - typical of diversified or defensive assets.
- Beta of 0.25 may look defensive, but with R2 of 0.07 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 0.07 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
- 11.10%
- Beta
- 0.25
- R²
- 0.07
- Upside Capture
- 41.94%
- Downside Capture
- 20.91%
Expense Ratio
HEFT has an expense ratio of 0.70%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Hedgeye Fourth Turning ETF (HEFT) and compare them to S&P 500 Index.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Dividends
Dividend History
Hedgeye Fourth Turning ETF provided a 0.02% dividend yield over the last twelve months, with an annual payout of $0.01 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.01 | $0.01 |
Dividend yield | 0.02% | 0.02% |
Monthly Dividends
The table displays the monthly dividend distributions for Hedgeye Fourth Turning 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 | $0.01 | $0.01 |
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 Hedgeye Fourth Turning 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 Hedgeye Fourth Turning ETF was 9.17%, occurring on Apr 21, 2026. The portfolio has not yet recovered.
The current Hedgeye Fourth Turning ETF drawdown is 2.64%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -9.17%Apr 2026 | 2mo 21d | — | 4mo 5dJan 2026 - now |
2025 pullback2025 | -1.74%Dec 2025 | 5d | 6d | 11dDec 2025 - Dec 2025 |
2025 pullback2025 | -1.64%Dec 2025 | 2d | 5d | 7dDec 2025 - Jan 2026 |
2026 pullback2026 | -0.80%Jan 2026 | 0s | 2d | 2dJan 2026 - Jan 2026 |
2025 pullback2025 | -0.78%Dec 2025 | 0s | 3d | 3dDec 2025 - Dec 2025 |
Drawdown Indicators
| HEFT | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.17% | -56.78% | +47.61% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
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 | -2.64% | -0.74% | -1.90% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -10.72% | +7.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.97% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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