EQIN vs. HFGM

Last updated Jun 5, 2026

EQIN (Columbia U.S. Equity Income ETF) and HFGM (Unlimited HFGM Global Macro ETF) are both exchange-traded funds - EQIN is a Large Cap Value Equities fund actively managed by Columbia, while HFGM is a Macro Trading fund actively managed by Unlimited. Both are actively managed. Over the past year, EQIN returned 19.10% vs 36.91% for HFGM. At a 0.38 correlation, their price movements are largely independent. EQIN charges 0.35%/yr vs 0.95%/yr for HFGM.

Performance

EQIN vs. HFGM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia U.S. Equity Income ETF (EQIN) and Unlimited HFGM Global Macro ETF (HFGM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQIN achieves a 9.04% return, which is significantly lower than HFGM's 13.73% return.

EQIN

• 1D: 1.02%
• 1M: 2.71%
• YTD: 9.04%
• 6M: 9.92%
• 1Y: 19.10%
• 3Y*: 15.46%
• 5Y*: 9.50%
• 10Y*: —

HFGM

• 1D: -1.06%
• 1M: -2.24%
• YTD: 13.73%
• 6M: 13.65%
• 1Y: 36.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EQIN vs. HFGM - Yearly Performance Comparison

	2026 (YTD)	2025
EQIN Columbia U.S. Equity Income ETF	9.04%	11.10%
HFGM Unlimited HFGM Global Macro ETF	13.73%	26.63%

Correlation

The correlation between EQIN and HFGM is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025	0.38

Return for Risk

EQIN vs. HFGM — Risk / Return Rank

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

EQIN

EQIN Risk / Return Rank: 60
EQIN Sharpe Ratio Rank: 55
EQIN Sortino Ratio Rank: 59
EQIN Omega Ratio Rank: 53
EQIN Calmar Ratio Rank: 72
EQIN Martin Ratio Rank: 60

HFGM

HFGM Risk / Return Rank: 53
HFGM Sharpe Ratio Rank: 48
HFGM Sortino Ratio Rank: 45
HFGM Omega Ratio Rank: 47
HFGM Calmar Ratio Rank: 71
HFGM Martin Ratio Rank: 55

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.

EQIN vs. HFGM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia U.S. Equity Income ETF (EQIN) and Unlimited HFGM Global Macro ETF (HFGM). 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.

	EQIN	HFGM	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.64	+0.21
Sortino ratio: Return per unit of downside risk	2.73	2.21	+0.52
Omega ratio: Gain probability vs. loss probability	1.33	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	3.55	3.48	+0.07
Martin ratio: Return relative to average drawdown	10.56	9.32	+1.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQIN vs. HFGM - Sharpe Ratio Comparison

The current EQIN Sharpe Ratio is 1.86, which is comparable to the HFGM Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of EQIN and HFGM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EQIN	HFGM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.64	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	1.75	-1.09

Drawdowns

EQIN vs. HFGM - Drawdown Comparison

The maximum EQIN drawdown since its inception was -42.16%, which is greater than HFGM's maximum drawdown of -10.66%. Use the drawdown chart below to compare losses from any high point for EQIN and HFGM.

Drawdown Indicators

	EQIN	HFGM	Difference
Max Drawdown Largest peak-to-trough decline	-42.16%	-10.66%	-31.50%
Max Drawdown (1Y) Largest decline over 1 year	-5.41%	-10.66%	+5.25%
Max Drawdown (3Y) Largest decline over 3 years	-12.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.51%	—	—
Current Drawdown Current decline from peak	0.00%	-6.29%	+6.29%
Average Drawdown Average peak-to-trough decline	-4.89%	-2.69%	-2.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	3.97%	-2.16%

Volatility

EQIN vs. HFGM - Volatility Comparison

The current volatility for Columbia U.S. Equity Income ETF (EQIN) is 2.49%, while Unlimited HFGM Global Macro ETF (HFGM) has a volatility of 4.36%. This indicates that EQIN experiences smaller price fluctuations and is considered to be less risky than HFGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQIN	HFGM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.49%	4.36%	-1.87%
Volatility (6M) Calculated over the trailing 6-month period	7.68%	17.44%	-9.76%
Volatility (1Y) Calculated over the trailing 1-year period	10.35%	22.58%	-12.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.67%	21.74%	-7.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.63%	21.74%	-3.11%

EQIN vs. HFGM - Expense Ratio Comparison

EQIN has a 0.35% expense ratio, which is lower than HFGM's 0.95% expense ratio.

Dividends

EQIN vs. HFGM - Dividend Comparison

EQIN's dividend yield for the trailing twelve months is around 1.89%, less than HFGM's 9.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EQIN Columbia U.S. Equity Income ETF	1.89%	2.05%	4.34%	2.41%	2.71%	2.57%	2.54%	2.70%	7.81%	11.52%	2.44%
HFGM Unlimited HFGM Global Macro ETF	9.88%	11.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EQIN and HFGM in my portfolio?

EQIN and HFGM have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQIN or HFGM?

HFGM has higher volatility (4.36%) compared to EQIN (2.49%). In terms of maximum drawdown, EQIN dropped -42.16% vs HFGM's -10.66%.

Which ETF is better, EQIN or HFGM?

On 1-year performance, HFGM leads with 36.91% vs 19.10% for EQIN. On fees, EQIN is cheaper at 0.35% per year. On volatility, EQIN has been the lower-risk option at 2.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EQIN or HFGM?

Over the 1-year period, HFGM has performed better with a 36.91% return vs 19.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQIN or HFGM?

EQIN is cheaper with a 0.35% expense ratio, compared with 0.95% for HFGM.

Which ETF pays a higher dividend yield, EQIN or HFGM?

HFGM has the higher dividend yield at 9.88%, compared with 1.89% for EQIN.

What is the main difference between EQIN and HFGM?

EQIN is categorized as Large Cap Value Equities, while HFGM is Macro Trading. They also come from different issuers: Columbia and Unlimited. Their fees differ too: 0.35% for EQIN and 0.95% for HFGM.

Which has better risk-adjusted returns?

EQIN currently has the higher Sharpe Ratio (1.86 vs 1.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.