HF vs. HFND

Last updated Jun 6, 2026

HF (DGA Core Plus Absolute Return ETF) and HFND (Unlimited HFND Multi-Strategy Return Tracker ETF) are both Multistrategy funds. Both are actively managed. Over the past year, HF returned 11.16% vs 16.51% for HFND. A 0.63 correlation means they provide meaningful diversification when combined. HF charges 1.70%/yr vs 1.22%/yr for HFND.

Performance

HF vs. HFND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DGA Core Plus Absolute Return ETF (HF) and Unlimited HFND Multi-Strategy Return Tracker ETF (HFND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HF achieves a 4.33% return, which is significantly lower than HFND's 6.73% return.

HF

• 1D: -1.42%
• 1M: 0.65%
• YTD: 4.33%
• 6M: 4.44%
• 1Y: 11.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HFND

• 1D: -1.68%
• 1M: -1.54%
• YTD: 6.73%
• 6M: 6.15%
• 1Y: 16.51%
• 3Y*: 9.20%
• 5Y*: —
• 10Y*: —

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

HF vs. HFND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HF DGA Core Plus Absolute Return ETF	4.33%	4.38%	9.55%	5.98%
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	6.73%	8.93%	8.34%	1.68%

Correlation

The correlation between HF and HFND is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (All Time) Calculated using the full available price history since Aug 4, 2023	0.63

The correlation between HF and HFND shifts across timeframes, from 0.63 (all time) to 0.73 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HF vs. HFND — Risk / Return Rank

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

HF

HF Risk / Return Rank: 75
HF Sharpe Ratio Rank: 72
HF Sortino Ratio Rank: 74
HF Omega Ratio Rank: 77
HF Calmar Ratio Rank: 77
HF Martin Ratio Rank: 75

HFND

HFND Risk / Return Rank: 60
HFND Sharpe Ratio Rank: 53
HFND Sortino Ratio Rank: 53
HFND Omega Ratio Rank: 55
HFND Calmar Ratio Rank: 70
HFND Martin Ratio Rank: 70

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.

HF vs. HFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DGA Core Plus Absolute Return ETF (HF) and Unlimited HFND Multi-Strategy Return Tracker ETF (HFND). 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.

	HF	HFND	Difference
Sharpe ratio: Return per unit of total volatility	2.10	1.73	+0.37
Sortino ratio: Return per unit of downside risk	2.98	2.44	+0.54
Omega ratio: Gain probability vs. loss probability	1.41	1.32	+0.09
Calmar ratio: Return relative to maximum drawdown	3.56	3.36	+0.21
Martin ratio: Return relative to average drawdown	13.01	12.46	+0.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HF vs. HFND - Sharpe Ratio Comparison

The current HF Sharpe Ratio is 2.10, which is comparable to the HFND Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of HF and HFND, 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

	HF	HFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	1.73	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	0.87	+0.50

Drawdowns

HF vs. HFND - Drawdown Comparison

The maximum HF drawdown since its inception was -5.94%, smaller than the maximum HFND drawdown of -13.31%. Use the drawdown chart below to compare losses from any high point for HF and HFND.

Drawdown Indicators

	HF	HFND	Difference
Max Drawdown Largest peak-to-trough decline	-5.94%	-13.31%	+7.37%
Max Drawdown (1Y) Largest decline over 1 year	-3.14%	-4.94%	+1.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.31%	—
Current Drawdown Current decline from peak	-1.42%	-2.20%	+0.78%
Average Drawdown Average peak-to-trough decline	-1.63%	-2.09%	+0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	1.33%	-0.47%

Volatility

HF vs. HFND - Volatility Comparison

The current volatility for DGA Core Plus Absolute Return ETF (HF) is 2.55%, while Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) has a volatility of 3.24%. This indicates that HF experiences smaller price fluctuations and is considered to be less risky than HFND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HF	HFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	3.24%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	4.23%	8.06%	-3.83%
Volatility (1Y) Calculated over the trailing 1-year period	5.33%	9.58%	-4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.30%	9.50%	-3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	9.50%	-3.20%

HF vs. HFND - Expense Ratio Comparison

HF has a 1.70% expense ratio, which is higher than HFND's 1.22% expense ratio.

Dividends

HF vs. HFND - Dividend Comparison

HF's dividend yield for the trailing twelve months is around 0.90%, less than HFND's 4.76% yield.

Position	TTM	2025	2024	2023	2022
HF DGA Core Plus Absolute Return ETF	0.90%	0.94%	11.18%	2.49%	0.00%
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	4.76%	5.08%	3.70%	1.41%	0.43%

Frequently Asked Questions

Can I hold both HF and HFND in my portfolio?

HF and HFND have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HF or HFND?

HFND has higher volatility (3.24%) compared to HF (2.55%). In terms of maximum drawdown, HF dropped -5.94% vs HFND's -13.31%.

Which ETF is better, HF or HFND?

On 1-year performance, HFND leads with 16.51% vs 11.16% for HF. On fees, HFND is cheaper at 1.22% per year. On volatility, HF has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HF or HFND?

Over the 1-year period, HFND has performed better with a 16.51% return vs 11.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HF or HFND?

HFND is cheaper with a 1.22% expense ratio, compared with 1.70% for HF.

Which ETF pays a higher dividend yield, HF or HFND?

HFND has the higher dividend yield at 4.76%, compared with 0.90% for HF.

What is the main difference between HF and HFND?

They also come from different issuers: Days Global Advisors and Tidal ETFs. Their fees differ too: 1.70% for HF and 1.22% for HFND.

Which has better risk-adjusted returns?

HF currently has the higher Sharpe Ratio (2.10 vs 1.73), 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.