HEFT vs. STRC

Last updated Apr 1, 2026

Compare and contrast key facts about Hedgeye Fourth Turning ETF (HEFT) and MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).

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

Performance

HEFT vs. STRC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye Fourth Turning ETF (HEFT) and MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). The values are adjusted to include any dividend payments, if applicable.

HEFT vs. STRC - Yearly Performance Comparison

	2026 (YTD)	2025
HEFT Hedgeye Fourth Turning ETF	5.30%	0.98%
STRC MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock	4.14%	4.53%

Returns By Period

In the year-to-date period, HEFT achieves a 5.30% return, which is significantly higher than STRC's 4.14% return.

HEFT

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

STRC

• 1D: 0.06%
• 1M: 0.99%
• YTD: 4.14%
• 6M: 8.87%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

Return for Risk

HEFT vs. STRC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye Fourth Turning ETF (HEFT) and MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). 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	STRC	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.46	1.58	-0.13

Correlation

The correlation between HEFT and STRC is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HEFT vs. STRC - Dividend Comparison

HEFT's dividend yield for the trailing twelve months is around 0.02%, less than STRC's 7.07% yield.

	TTM	2025
HEFT Hedgeye Fourth Turning ETF	0.02%	0.02%
STRC MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock	7.07%	4.31%

Drawdowns

HEFT vs. STRC - Drawdown Comparison

The maximum HEFT drawdown since its inception was -6.57%, roughly equal to the maximum STRC drawdown of -6.39%. Use the drawdown chart below to compare losses from any high point for HEFT and STRC.

Drawdown Indicators

	HEFT	STRC	Difference
Max Drawdown Largest peak-to-trough decline	-6.57%	-6.39%	-0.18%
Current Drawdown Current decline from peak	-5.00%	0.00%	-5.00%
Average Drawdown Average peak-to-trough decline	-1.97%	-0.60%	-1.37%

Volatility

Volatility by Period

	HEFT	STRC	Difference
Volatility (1Y) Calculated over the trailing 1-year period	13.44%	13.46%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.44%	13.46%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.44%	13.46%	-0.02%