- CUSIP
- 886364371
- Delisting Date
- Jan 2, 2026
- Issuer
- Unlimited
- Inception Date
- Jul 14, 2025
- Category
- Long-Short
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Assets Under Management
- $25M
Share Price Chart
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Performance
HFEQ Performance Chart
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Returns By Period
Unlimited HFEQ Equity Long/Short ETF
- 1D
- -3.97%
- 1M
- -1.18%
- YTD
- 9.98%
- 6M
- 9.10%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
HFEQ Monthly Returns History
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.96% | 4.32% | -8.48% | 8.24% | 3.57% | -3.02% | 9.98% | ||||||
| 2025 | 0.88% | 2.63% | 7.70% | 4.13% | -1.55% | 0.04% | 14.35% |
Benchmark Metrics
Unlimited HFEQ Equity Long/Short ETF has an annualized alpha of -1.91%, beta of 1.57, and R2 of 0.80 versus S&P 500 Index. Calculated based on daily prices since July 15, 2025.
- This ETF captured 127.09% of S&P 500 Index gains but only 88.79% of its losses - a favorable profile for investors.
- Beta of 1.57 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- -1.91%
- Beta
- 1.57
- R²
- 0.80
- Upside Capture
- 127.09%
- Downside Capture
- 88.79%
Expense Ratio
HFEQ has a high expense ratio of 1.00%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Unlimited HFEQ Equity Long/Short ETF (HFEQ) 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.
| HFEQ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 12.44 | — |
Dividends
Dividend History
Unlimited HFEQ Equity Long/Short ETF provided a 9.59% dividend yield over the last twelve months, with an annual payout of $2.20 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $2.20 | $2.20 |
Dividend yield | 9.59% | 10.55% |
Monthly Dividends
The table displays the monthly dividend distributions for Unlimited HFEQ Equity Long/Short 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 | $2.20 | $2.20 |
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 Unlimited HFEQ Equity Long/Short 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 Unlimited HFEQ Equity Long/Short ETF was 12.46%, occurring on Mar 30, 2026. Recovery took 26 trading sessions.
The current Unlimited HFEQ Equity Long/Short ETF drawdown is 3.97%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 correction2026 | -12.46%Mar 2026 | 1mo 2d | 1mo 7d | 2mo 9dFeb 2026 - May 2026 |
2025 correction2025 | -10.71%Nov 2025 | 23d | 1mo 16d | 2mo 9dOct 2025 - Jan 2026 |
2025 pullback2025 | -7.12%Oct 2025 | 3d | 14d | 17dOct 2025 - Oct 2025 |
2026 pullback2026 | -5.24%May 2026 | 12d | 7d | 19dMay 2026 - May 2026 |
2026 pullback2026 | -3.97%Jun 2026 | 0s | — | 18d 6hJun 2026 - now |
Drawdown Indicators
| HFEQ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.46% | -56.78% | +44.32% |
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 | -3.97% | -1.80% | -2.17% |
Average DrawdownAverage peak-to-trough decline | -2.44% | -10.71% | +8.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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