HFGM vs. HFND

Last updated Apr 2, 2026

Compare and contrast key facts about Unlimited HFGM Global Macro ETF (HFGM) and Unlimited HFND Multi-Strategy Return Tracker ETF (HFND).

HFGM and HFND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HFGM is an actively managed fund by Unlimited. It was launched on Apr 14, 2025. HFND is an actively managed fund by Tidal ETFs. It was launched on Oct 10, 2022.

Performance

HFGM vs. HFND - Performance Comparison

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

HFGM vs. HFND - Yearly Performance Comparison

	2026 (YTD)	2025
HFGM Unlimited HFGM Global Macro ETF	12.76%	26.63%
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	3.46%	14.43%

Returns By Period

In the year-to-date period, HFGM achieves a 12.76% return, which is significantly higher than HFND's 3.46% return.

HFGM

• 1D: 1.43%
• 1M: -4.15%
• YTD: 12.76%
• 6M: 12.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HFND

• 1D: 0.52%
• 1M: -2.20%
• YTD: 3.46%
• 6M: 3.64%
• 1Y: 14.43%
• 3Y*: 8.14%
• 5Y*: —
• 10Y*: —

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

HFGM vs. HFND - Expense Ratio Comparison

HFGM has a 0.95% expense ratio, which is lower than HFND's 1.22% expense ratio.

HFND

Unlimited HFND Multi-Strategy Return Tracker ETF

HFGM

Unlimited HFGM Global Macro ETF

Return for Risk

HFGM vs. HFND — Risk / Return Rank

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

HFND

HFND Risk / Return Rank: 67
HFND Sharpe Ratio Rank: 67
HFND Sortino Ratio Rank: 69
HFND Omega Ratio Rank: 67
HFND Calmar Ratio Rank: 59
HFND Martin Ratio Rank: 73

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.

HFGM vs. HFND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFGM Global Macro ETF (HFGM) 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.

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

Sharpe Ratios by Period

	HFGM	HFND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.96	0.82	+1.14

Correlation

The correlation between HFGM and HFND is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HFGM vs. HFND - Dividend Comparison

HFGM's dividend yield for the trailing twelve months is around 9.96%, more than HFND's 4.91% yield.

	TTM	2025	2024	2023	2022
HFGM Unlimited HFGM Global Macro ETF	9.96%	11.23%	0.00%	0.00%	0.00%
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	4.91%	5.08%	3.70%	1.41%	0.43%

Drawdowns

HFGM vs. HFND - Drawdown Comparison

The maximum HFGM drawdown since its inception was -10.66%, smaller than the maximum HFND drawdown of -13.31%. Use the drawdown chart below to compare losses from any high point for HFGM and HFND.

Drawdown Indicators

	HFGM	HFND	Difference
Max Drawdown Largest peak-to-trough decline	-10.66%	-13.31%	+2.65%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.07%	—
Current Drawdown Current decline from peak	-7.09%	-2.94%	-4.15%
Average Drawdown Average peak-to-trough decline	-2.34%	-2.16%	-0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.78%	—

Volatility

Volatility by Period

	HFGM	HFND	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.91%	—
Volatility (1Y) Calculated over the trailing 1-year period	23.05%	11.93%	+11.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.05%	9.50%	+13.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.05%	9.50%	+13.55%