HFND vs. GRNY

Last updated Jun 5, 2026

HFND (Unlimited HFND Multi-Strategy Return Tracker ETF) and GRNY (Fundstrat Granny Shots U.S. Large Cap ETF) are both exchange-traded funds - HFND is a Multistrategy fund actively managed by Tidal ETFs, while GRNY is a Large Cap Blend Equities fund actively managed by Tidal ETFs. Both are actively managed. Over the past year, HFND returned 18.69% vs 30.94% for GRNY. A 0.68 correlation means they provide meaningful diversification when combined. HFND charges 1.22%/yr vs 0.75%/yr for GRNY.

Performance

HFND vs. GRNY - 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 U.S. Large Cap ETF (GRNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HFND achieves a 8.56% return, which is significantly lower than GRNY's 12.12% return.

HFND

• 1D: -0.08%
• 1M: 1.07%
• YTD: 8.56%
• 6M: 7.88%
• 1Y: 18.69%
• 3Y*: 10.03%
• 5Y*: —
• 10Y*: —

GRNY

• 1D: 0.87%
• 1M: 3.78%
• YTD: 12.12%
• 6M: 10.16%
• 1Y: 30.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HFND vs. GRNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	8.56%	8.93%	-0.43%
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	12.12%	24.05%	-1.09%

Correlation

The correlation between HFND and GRNY is 0.66, 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	0.66
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024	0.68

The correlation between HFND and GRNY has been stable across timeframes, ranging from 0.66 to 0.68 - a consistent structural relationship.

Return for Risk

HFND vs. GRNY — 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: 60
HFND Sortino Ratio Rank: 61
HFND Omega Ratio Rank: 63
HFND Calmar Ratio Rank: 76
HFND Martin Ratio Rank: 75

GRNY

GRNY Risk / Return Rank: 51
GRNY Sharpe Ratio Rank: 53
GRNY Sortino Ratio Rank: 49
GRNY Omega Ratio Rank: 48
GRNY Calmar Ratio Rank: 55
GRNY Martin Ratio Rank: 49

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.

HFND vs. GRNY - 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 U.S. Large Cap ETF (GRNY). 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.

	HFND	GRNY	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.77	+0.22
Sortino ratio: Return per unit of downside risk	2.82	2.37	+0.45
Omega ratio: Gain probability vs. loss probability	1.37	1.30	+0.07
Calmar ratio: Return relative to maximum drawdown	3.80	2.67	+1.13
Martin ratio: Return relative to average drawdown	14.17	8.16	+6.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HFND vs. GRNY - Sharpe Ratio Comparison

The current HFND Sharpe Ratio is 1.99, which is comparable to the GRNY Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of HFND and GRNY, 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

	HFND	GRNY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	1.77	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.98	-0.05

Drawdowns

HFND vs. GRNY - Drawdown Comparison

The maximum HFND drawdown since its inception was -13.31%, smaller than the maximum GRNY drawdown of -24.18%. Use the drawdown chart below to compare losses from any high point for HFND and GRNY.

Drawdown Indicators

	HFND	GRNY	Difference
Max Drawdown Largest peak-to-trough decline	-13.31%	-24.18%	+10.87%
Max Drawdown (1Y) Largest decline over 1 year	-4.94%	-11.63%	+6.69%
Max Drawdown (3Y) Largest decline over 3 years	-13.31%	—	—
Current Drawdown Current decline from peak	-0.53%	0.00%	-0.53%
Average Drawdown Average peak-to-trough decline	-2.09%	-4.02%	+1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	3.80%	-2.48%

Volatility

HFND vs. GRNY - Volatility Comparison

The current volatility for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) is 2.90%, while Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) has a volatility of 4.28%. This indicates that HFND experiences smaller price fluctuations and is considered to be less risky than GRNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFND	GRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	4.28%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	7.87%	12.71%	-4.84%
Volatility (1Y) Calculated over the trailing 1-year period	9.42%	17.58%	-8.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.46%	23.17%	-13.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.46%	23.17%	-13.71%

HFND vs. GRNY - Expense Ratio Comparison

HFND has a 1.22% expense ratio, which is higher than GRNY's 0.75% expense ratio.

Dividends

HFND vs. GRNY - Dividend Comparison

HFND's dividend yield for the trailing twelve months is around 4.68%, while GRNY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	0.00%	0.00%	0.00%	0.00%	0.00%
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	4.68%	5.08%	3.70%	1.41%	0.43%

Frequently Asked Questions

Can I hold both HFND and GRNY in my portfolio?

HFND and GRNY have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFND or GRNY?

GRNY has higher volatility (4.28%) compared to HFND (2.90%). In terms of maximum drawdown, HFND dropped -13.31% vs GRNY's -24.18%.

Which ETF is better, HFND or GRNY?

On 1-year performance, GRNY leads with 30.94% vs 18.69% for HFND. On fees, GRNY is cheaper at 0.75% per year. On volatility, HFND has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HFND or GRNY?

Over the 1-year period, GRNY has performed better with a 30.94% return vs 18.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFND or GRNY?

GRNY is cheaper with a 0.75% expense ratio, compared with 1.22% for HFND.

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

HFND has the higher dividend yield at 4.68%, compared with 0.00% for GRNY.

What is the main difference between HFND and GRNY?

HFND is categorized as Multistrategy, while GRNY is Large Cap Blend Equities. Their fees differ too: 1.22% for HFND and 0.75% for GRNY.

Which has better risk-adjusted returns?

HFND currently has the higher Sharpe Ratio (1.99 vs 1.77), 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.