- ISIN
- US53656F5998
- CUSIP
- 53656F599
- Issuer
- Swan
- Inception Date
- Dec 22, 2020
- Region
- North America (U.S.)
- Category
- Equity Hedged
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P 500
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $584M
Share Price Chart
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Performance
HEGD Performance Chart
Swan Hedged Equity US Large Cap ETF (HEGD) is up 7.5% since the beginning of the year. HEGD is currently trading at $27 per share. Investors who bought $1,000 worth of HEGD shares 5 years ago would now be looking at an investment worth $1,558.
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Returns By Period
Swan Hedged Equity US Large Cap ETF (HEGD) has returned 7.52% so far this year and 19.36% over the past 12 months.
Swan Hedged Equity US Large Cap ETF
- 1D
- 0.30%
- 1M
- 3.81%
- YTD
- 7.52%
- 6M
- 7.26%
- 1Y
- 19.36%
- 3Y*
- 14.89%
- 5Y*
- 9.28%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
HEGD Monthly Returns History
Based on dividend-adjusted daily data since Dec 23, 2020, HEGD's average daily return is +0.04%, while the average monthly return is +0.81%. At this rate, an investment would double in approximately 7.2 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2023 with a return of +5.7%, while the worst month was Apr 2022 at -5.6%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, HEGD closed higher 53% of trading days. The best single day was Nov 10, 2022 with a return of +3.6%, while the worst single day was Apr 26, 2022 at -2.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.19% | -0.51% | -2.68% | 5.43% | 3.57% | 0.50% | 7.52% | ||||||
| 2025 | 2.05% | -0.92% | -3.31% | 1.23% | 2.53% | 3.39% | 1.32% | 1.39% | 3.23% | 2.01% | -0.00% | -0.47% | 12.95% |
| 2024 | 0.74% | 3.13% | 2.22% | -3.09% | 2.74% | 3.05% | 0.89% | 1.91% | 1.78% | -0.81% | 3.80% | -1.86% | 15.24% |
| 2023 | 2.53% | -1.93% | 1.94% | 1.16% | 0.34% | 3.61% | 1.87% | -0.16% | -3.75% | -1.41% | 5.71% | 3.79% | 14.16% |
| 2022 | -3.69% | -2.08% | 1.63% | -5.56% | -0.34% | -3.18% | 3.07% | -1.87% | -2.39% | 4.23% | 2.80% | -3.94% | -11.25% |
| 2021 | 0.49% | 1.22% | 1.30% | 3.74% | -0.12% | 1.55% | 1.92% | 2.14% | -3.08% | 4.82% | -0.42% | 2.74% | 17.30% |
Benchmark Metrics
Swan Hedged Equity US Large Cap ETF has an annualized alpha of 2.74%, beta of 0.50, and R2 of 0.78 versus S&P 500 Index. Calculated based on daily prices since December 24, 2020.
- This ETF participated in 58.46% of S&P 500 Index downside but only 56.13% of its upside - more exposed to losses than it benefited from rallies.
- This ETF generated an annualized alpha of 2.74% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.50 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.74%
- Beta
- 0.50
- R²
- 0.78
- Upside Capture
- 56.13%
- Downside Capture
- 58.46%
Expense Ratio
HEGD has an expense ratio of 0.88%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HEGD ranks 84 for risk / return — in the top 84% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Swan Hedged Equity US Large Cap ETF (HEGD) and compare them to S&P 500 Index.
| HEGD | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.81 | 2.39 | +0.42 |
Sortino ratioReturn per unit of downside risk | 4.02 | 3.25 | +0.76 |
Omega ratioGain probability vs. loss probability | 1.52 | 1.43 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 4.43 | 3.11 | +1.32 |
Martin ratioReturn relative to average drawdown | 17.60 | 14.38 | +3.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Swan Hedged Equity US Large Cap ETF provided a 0.33% dividend yield over the last twelve months, with an annual payout of $0.09 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.09 | $0.09 | $0.10 | $0.08 | $0.15 | $0.06 |
Dividend yield | 0.33% | 0.36% | 0.43% | 0.39% | 0.87% | 0.31% |
Monthly Dividends
The table displays the monthly dividend distributions for Swan Hedged Equity US Large Cap 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.09 | $0.09 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.10 | $0.10 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 | $0.08 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.15 | $0.15 |
| 2021 | $0.06 | $0.06 |
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 Swan Hedged Equity US Large Cap 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 Swan Hedged Equity US Large Cap ETF was 14.56%, occurring on Oct 12, 2022. Recovery took 297 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -14.56%Oct 2022 | 9mo 16d | 1y 2mo | 1y 11moDec 2021 - Dec 2023 |
2025 selloff2025 | -8.14%Apr 2025 | 1mo 17d | 2mo 17d | 4mo 4dFeb 2025 - Jun 2025 |
2024 pullback2024 | -4.58%Aug 2024 | 27d | 14d | 1mo 11dJul 2024 - Aug 2024 |
2026 pullback2026 | -4.39%Mar 2026 | 2mo 1d | 16d | 2mo 17dJan 2026 - Apr 2026 |
2024 pullback2024 | -3.57%Apr 2024 | 18d | 26d | 1mo 14dApr 2024 - May 2024 |
Drawdown Indicators
| HEGD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.56% | -56.78% | +42.22% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -9.10% | +4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -8.14% | -18.90% | +10.76% |
Max Drawdown (5Y)Largest decline over 5 years | -14.56% | -25.43% | +10.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.67% | -10.72% | +7.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 1.97% | -0.87% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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