HECA vs. TFPN

Last updated Apr 1, 2026

Compare and contrast key facts about Hedgeye Capital Allocation ETF (HECA) and Blueprint Chesapeake Multi-Asset Trend ETF (TFPN).

HECA and TFPN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HECA is an actively managed fund by Hedgeye. It was launched on Jun 30, 2025. TFPN is an actively managed fund by Tidal ETFs. It was launched on Jul 11, 2023.

Performance

HECA vs. TFPN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye Capital Allocation ETF (HECA) and Blueprint Chesapeake Multi-Asset Trend ETF (TFPN). The values are adjusted to include any dividend payments, if applicable.

HECA vs. TFPN - Yearly Performance Comparison

	2026 (YTD)	2025
HECA Hedgeye Capital Allocation ETF	4.41%	12.83%
TFPN Blueprint Chesapeake Multi-Asset Trend ETF	8.26%	12.23%

Returns By Period

In the year-to-date period, HECA achieves a 4.41% return, which is significantly lower than TFPN's 8.26% return.

HECA

• 1D: -0.10%
• 1M: -5.25%
• YTD: 4.41%
• 6M: 7.77%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TFPN

• 1D: 0.73%
• 1M: -5.66%
• YTD: 8.26%
• 6M: 12.04%
• 1Y: 23.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HECA vs. TFPN - Expense Ratio Comparison

HECA has a 1.02% expense ratio, which is lower than TFPN's 1.10% expense ratio.

TFPN

Blueprint Chesapeake Multi-Asset Trend ETF

HECA

Hedgeye Capital Allocation ETF

Return for Risk

HECA vs. TFPN — Risk / Return Rank

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

TFPN

TFPN Risk / Return Rank: 86
TFPN Sharpe Ratio Rank: 87
TFPN Sortino Ratio Rank: 89
TFPN Omega Ratio Rank: 83
TFPN Calmar Ratio Rank: 90
TFPN Martin Ratio Rank: 82

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.

HECA vs. TFPN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye Capital Allocation ETF (HECA) and Blueprint Chesapeake Multi-Asset Trend ETF (TFPN). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HECA	TFPN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.90	0.38	+1.52

Correlation

The correlation between HECA and TFPN is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HECA vs. TFPN - Dividend Comparison

HECA's dividend yield for the trailing twelve months is around 1.93%, while TFPN has not paid dividends to shareholders.

	TTM	2025	2024	2023
HECA Hedgeye Capital Allocation ETF	1.93%	2.02%	0.00%	0.00%
TFPN Blueprint Chesapeake Multi-Asset Trend ETF	0.00%	0.00%	0.94%	0.98%

Drawdowns

HECA vs. TFPN - Drawdown Comparison

The maximum HECA drawdown since its inception was -6.33%, smaller than the maximum TFPN drawdown of -16.72%. Use the drawdown chart below to compare losses from any high point for HECA and TFPN.

Drawdown Indicators

	HECA	TFPN	Difference
Max Drawdown Largest peak-to-trough decline	-6.33%	-16.72%	+10.39%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.47%	—
Current Drawdown Current decline from peak	-6.33%	-6.21%	-0.12%
Average Drawdown Average peak-to-trough decline	-1.53%	-5.13%	+3.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.49%	—

Volatility

Volatility by Period

	HECA	TFPN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.97%	13.40%	-0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	12.38%	+0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.97%	12.38%	+0.59%