HEFT vs. ATTR

Last updated Jun 4, 2026

HEFT (Hedgeye Fourth Turning ETF) and ATTR (Arin Tactical Tail Risk ETF) are both Long-Short funds. Both are actively managed. At a 0.25 correlation, their price movements are largely independent. HEFT charges 0.70%/yr vs 0.63%/yr for ATTR.

Performance

HEFT vs. ATTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye Fourth Turning ETF (HEFT) and Arin Tactical Tail Risk ETF (ATTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEFT achieves a 7.91% return, which is significantly higher than ATTR's 4.25% return.

HEFT

• 1D: -0.02%
• 1M: 4.12%
• YTD: 7.91%
• 6M: 7.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ATTR

• 1D: -0.12%
• 1M: 0.85%
• YTD: 4.25%
• 6M: 4.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HEFT vs. ATTR - Yearly Performance Comparison

	2026 (YTD)	2025
HEFT Hedgeye Fourth Turning ETF	7.91%	0.98%
ATTR Arin Tactical Tail Risk ETF	4.25%	0.40%

Correlation

The correlation between HEFT and ATTR is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 24, 2025	0.25

Return for Risk

HEFT vs. ATTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye Fourth Turning ETF (HEFT) and Arin Tactical Tail Risk ETF (ATTR). 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	ATTR	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	2.81	-1.37

Drawdowns

HEFT vs. ATTR - Drawdown Comparison

The maximum HEFT drawdown since its inception was -9.17%, which is greater than ATTR's maximum drawdown of -1.76%. Use the drawdown chart below to compare losses from any high point for HEFT and ATTR.

Drawdown Indicators

	HEFT	ATTR	Difference
Max Drawdown Largest peak-to-trough decline	-9.17%	-1.76%	-7.41%
Current Drawdown Current decline from peak	-2.64%	-0.19%	-2.45%
Average Drawdown Average peak-to-trough decline	-3.13%	-0.18%	-2.95%

Volatility

Volatility by Period

	HEFT	ATTR	Difference
Volatility (1Y) Calculated over the trailing 1-year period	12.53%	2.97%	+9.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.53%	2.97%	+9.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.53%	2.97%	+9.56%

HEFT vs. ATTR - Expense Ratio Comparison

HEFT has a 0.70% expense ratio, which is higher than ATTR's 0.63% expense ratio.

Dividends

HEFT vs. ATTR - Dividend Comparison

HEFT's dividend yield for the trailing twelve months is around 0.02%, while ATTR has not paid dividends to shareholders.

Position	TTM	2025
ATTR Arin Tactical Tail Risk ETF	0.00%	0.00%
HEFT Hedgeye Fourth Turning ETF	0.02%	0.02%

Frequently Asked Questions

Can I hold both HEFT and ATTR in my portfolio?

HEFT and ATTR have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HEFT or ATTR?

On fees, ATTR is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HEFT or ATTR?

ATTR is cheaper with a 0.63% expense ratio, compared with 0.70% for HEFT.

Which ETF pays a higher dividend yield, HEFT or ATTR?

HEFT has the higher dividend yield at 0.02%, compared with 0.00% for ATTR.

What is the main difference between HEFT and ATTR?

They also come from different issuers: Hedgeye and Arin Risk Advisors. Their fees differ too: 0.70% for HEFT and 0.63% for ATTR.