HEFT vs. ADAMH

Last updated Apr 1, 2026

Compare and contrast key facts about Hedgeye Fourth Turning ETF (HEFT) and Adamas Trust, Inc. (ADAMH).

HEFT is an actively managed fund by Hedgeye. It was launched on Nov 20, 2025.

Performance

HEFT vs. ADAMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye Fourth Turning ETF (HEFT) and Adamas Trust, Inc. (ADAMH). The values are adjusted to include any dividend payments, if applicable.

HEFT vs. ADAMH - Yearly Performance Comparison

	2026 (YTD)	2025
HEFT Hedgeye Fourth Turning ETF	5.30%	0.98%
ADAMH Adamas Trust, Inc.	-1.57%	4.23%

Returns By Period

In the year-to-date period, HEFT achieves a 5.30% return, which is significantly higher than ADAMH's -1.57% return.

HEFT

• 1D: -0.30%
• 1M: -3.18%
• YTD: 5.30%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ADAMH

• 1D: -0.20%
• 1M: -1.19%
• YTD: -1.57%
• 6M: 3.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

Return for Risk

HEFT vs. ADAMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye Fourth Turning ETF (HEFT) and Adamas Trust, Inc. (ADAMH). 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

	HEFT	ADAMH	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.46	1.75	-0.29

Correlation

The correlation between HEFT and ADAMH is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

HEFT vs. ADAMH - Dividend Comparison

HEFT's dividend yield for the trailing twelve months is around 0.02%, less than ADAMH's 7.26% yield.

	TTM	2025
HEFT Hedgeye Fourth Turning ETF	0.02%	0.02%
ADAMH Adamas Trust, Inc.	7.26%	4.59%

Drawdowns

HEFT vs. ADAMH - Drawdown Comparison

The maximum HEFT drawdown since its inception was -6.57%, which is greater than ADAMH's maximum drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for HEFT and ADAMH.

Drawdown Indicators

	HEFT	ADAMH	Difference
Max Drawdown Largest peak-to-trough decline	-6.57%	-1.81%	-4.76%
Current Drawdown Current decline from peak	-5.00%	-1.57%	-3.43%
Average Drawdown Average peak-to-trough decline	-1.97%	-0.53%	-1.44%

Volatility

Volatility by Period

	HEFT	ADAMH	Difference
Volatility (1Y) Calculated over the trailing 1-year period	13.44%	4.77%	+8.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.44%	4.77%	+8.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.44%	4.77%	+8.67%