ENDW vs. HECA

Last updated Jun 4, 2026

ENDW (Cambria Endowment Style ETF) and HECA (Hedgeye Capital Allocation ETF) are both Global Allocation funds. Both are actively managed. A 0.63 correlation means they provide meaningful diversification when combined. ENDW charges 0.29%/yr vs 1.02%/yr for HECA.

Performance

ENDW vs. HECA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Endowment Style ETF (ENDW) and Hedgeye Capital Allocation ETF (HECA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENDW achieves a 10.76% return, which is significantly higher than HECA's 0.22% return.

ENDW

• 1D: -0.63%
• 1M: 1.86%
• YTD: 10.76%
• 6M: 11.08%
• 1Y: 27.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HECA

• 1D: -0.75%
• 1M: -0.29%
• YTD: 0.22%
• 6M: -0.08%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ENDW vs. HECA - Yearly Performance Comparison

	2026 (YTD)	2025
ENDW Cambria Endowment Style ETF	10.76%	12.80%
HECA Hedgeye Capital Allocation ETF	0.22%	12.83%

Correlation

The correlation between ENDW and HECA is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 2, 2025	0.63

Return for Risk

ENDW vs. HECA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ENDW

ENDW Risk / Return Rank: 83
ENDW Sharpe Ratio Rank: 84
ENDW Sortino Ratio Rank: 83
ENDW Omega Ratio Rank: 82
ENDW Calmar Ratio Rank: 82
ENDW Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ENDW vs. HECA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Endowment Style ETF (ENDW) and Hedgeye Capital Allocation ETF (HECA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ENDW	HECA	Difference
Sharpe ratio: Return per unit of total volatility	2.76	—	—
Sortino ratio: Return per unit of downside risk	3.75	—	—
Omega ratio: Gain probability vs. loss probability	1.50	—	—
Calmar ratio: Return relative to maximum drawdown	4.34	—	—
Martin ratio: Return relative to average drawdown	17.69	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ENDW	HECA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.76	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.50	1.15	+2.35

Drawdowns

ENDW vs. HECA - Drawdown Comparison

The maximum ENDW drawdown since its inception was -6.44%, smaller than the maximum HECA drawdown of -11.81%. Use the drawdown chart below to compare losses from any high point for ENDW and HECA.

Drawdown Indicators

	ENDW	HECA	Difference
Max Drawdown Largest peak-to-trough decline	-6.44%	-11.81%	+5.37%
Max Drawdown (1Y) Largest decline over 1 year	-6.44%	—	—
Current Drawdown Current decline from peak	-0.63%	-10.09%	+9.46%
Average Drawdown Average peak-to-trough decline	-0.81%	-3.15%	+2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	—	—

Volatility

Volatility by Period

	ENDW	HECA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.13%	12.44%	-2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.00%	12.44%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.00%	12.44%	-1.44%

ENDW vs. HECA - Expense Ratio Comparison

ENDW has a 0.29% expense ratio, which is lower than HECA's 1.02% expense ratio.

Dividends

ENDW vs. HECA - Dividend Comparison

ENDW's dividend yield for the trailing twelve months is around 2.18%, more than HECA's 2.01% yield.

Position	TTM	2025
ENDW Cambria Endowment Style ETF	2.18%	1.91%
HECA Hedgeye Capital Allocation ETF	2.01%	2.02%

Frequently Asked Questions

Can I hold both ENDW and HECA in my portfolio?

ENDW and HECA have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ENDW or HECA?

On fees, ENDW is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ENDW or HECA?

ENDW is cheaper with a 0.29% expense ratio, compared with 1.02% for HECA.

Which ETF pays a higher dividend yield, ENDW or HECA?

ENDW has the higher dividend yield at 2.18%, compared with 2.01% for HECA.

What is the main difference between ENDW and HECA?

They also come from different issuers: Cambria and Hedgeye. Their fees differ too: 0.29% for ENDW and 1.02% for HECA.