HFND vs. GRNI

Last updated Aug 4, 2026

HFND (Unlimited HFND Multi-Strategy Return Tracker ETF) and GRNI (Fundstrat Granny Shots US Large Cap & Income ETF) are both exchange-traded funds - HFND is a Multistrategy fund actively managed by Tidal, while GRNI is a Derivative Income fund actively managed by Tidal. Both are actively managed. Their 0.71 correlation means they have sometimes moved together and sometimes differently. HFND charges 1.22%/yr vs 0.99%/yr for GRNI.

Performance

HFND vs. GRNI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and Fundstrat Granny Shots US Large Cap & Income ETF (GRNI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HFND achieves a 8.07% return, which is significantly lower than GRNI's 8.70% return.

HFND

• 1D: 0.66%
• 1M: -0.12%
• 6M: 4.10%
• YTD: 8.07%
• 1Y: 15.25%
• 3Y*: 9.07%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.22%

GRNI

• 1D: 1.00%
• 1M: -0.60%
• 6M: 7.06%
• YTD: 8.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GRNI Fundstrat Granny Shots US Large Cap & Income ETF	$677.34K	$642.90K	$737.83K
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	$436.97K	$309.82K	$279.89K

HFND vs. GRNI - Yearly Performance Comparison

	2026 (YTD)	2025
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	8.07%	0.25%
GRNI Fundstrat Granny Shots US Large Cap & Income ETF	8.70%	2.24%

Correlation

The correlation between HFND and GRNI is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.71

Return for Risk

HFND vs. GRNI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HFND

HFND Risk / Return Rank: 70
HFND Sharpe Ratio Rank: 63
HFND Sortino Ratio Rank: 64
HFND Omega Ratio Rank: 63
HFND Calmar Ratio Rank: 81
HFND Martin Ratio Rank: 79

GRNI

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HFND vs. GRNI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and Fundstrat Granny Shots US Large Cap & Income ETF (GRNI). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HFND	GRNI	Difference
Sharpe ratio: Return per unit of total volatility	1.53	—	—
Sortino ratio: Return per unit of downside risk	2.20	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	3.10	—	—
Martin ratio: Return relative to average drawdown	10.62	—	—

Drawdowns

HFND vs. GRNI - Drawdown Comparison

The maximum HFND drawdown since its inception was -13.31%, which is greater than GRNI's maximum drawdown of -9.55%. Use the drawdown chart below to compare losses from any high point for HFND and GRNI.

Drawdown Indicators

	HFND	GRNI	Difference
Max Drawdown Largest peak-to-trough decline	-13.31%	-9.55%	-3.76%
Max Drawdown (1Y) Largest decline over 1 year	-4.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.31%	—	—
Current Drawdown Current decline from peak	-1.38%	-1.50%	+0.12%
Average Drawdown Average peak-to-trough decline	-2.06%	-2.03%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	—	—

Volatility

Volatility by Period

	HFND	GRNI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.04%	16.89%	-6.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.49%	16.89%	-7.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.49%	16.89%	-7.40%

HFND vs. GRNI - Expense Ratio Comparison

HFND has a 1.22% expense ratio, which is higher than GRNI's 0.99% expense ratio.

Dividends

HFND vs. GRNI - Dividend Comparison

HFND's dividend yield for the trailing twelve months is around 4.70%, less than GRNI's 6.57% yield.

Position	TTM	2025	2024	2023	2022
GRNI Fundstrat Granny Shots US Large Cap & Income ETF	6.57%	0.83%	0.00%	0.00%	0.00%
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	4.70%	5.08%	3.70%	1.41%	0.43%

Frequently Asked Questions

Can I hold both HFND and GRNI in my portfolio?

HFND and GRNI have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HFND or GRNI?

On fees, GRNI is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HFND or GRNI?

GRNI is cheaper with a 0.99% expense ratio, compared with 1.22% for HFND.

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

GRNI has the higher dividend yield at 6.57%, compared with 4.70% for HFND.

What is the main difference between HFND and GRNI?

HFND is categorized as Multistrategy, while GRNI is Derivative Income. Their fees differ too: 1.22% for HFND and 0.99% for GRNI.