HFND vs. HF

Last updated Jun 24, 2026

HFND (Unlimited HFND Multi-Strategy Return Tracker ETF) and HF (DGA Core Plus Absolute Return ETF) are both Multistrategy funds. Both are actively managed. Over the past year, HFND returned 17.63% vs 10.77% for HF. A 0.63 correlation means they provide meaningful diversification when combined. HFND charges 1.22%/yr vs 1.70%/yr for HF.

Performance

HFND vs. HF - Performance Comparison

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

Returns By Period

In the year-to-date period, HFND achieves a 8.16% return, which is significantly higher than HF's 4.52% return.

HFND

• 1D: -1.30%
• 1M: 0.72%
• YTD: 8.16%
• 6M: 7.80%
• 1Y: 17.63%
• 3Y*: 9.72%
• 5Y*: —
• 10Y*: —

HF

• 1D: -0.79%
• 1M: -0.55%
• YTD: 4.52%
• 6M: 4.09%
• 1Y: 10.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HFND vs. HF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	8.16%	8.93%	8.34%	1.63%
HF DGA Core Plus Absolute Return ETF	4.52%	4.38%	9.55%	5.64%

Correlation

The correlation between HFND and HF is 0.74, 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	0.74
Correlation (All Time) Calculated using the full available price history since Aug 3, 2023	0.63

The correlation between HFND and HF shifts across timeframes, from 0.63 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HFND vs. HF — Risk / Return Rank

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

HFND

HFND Risk / Return Rank: 64
HFND Sharpe Ratio Rank: 57
HFND Sortino Ratio Rank: 57
HFND Omega Ratio Rank: 58
HFND Calmar Ratio Rank: 75
HFND Martin Ratio Rank: 74

HF

HF Risk / Return Rank: 69
HF Sharpe Ratio Rank: 64
HF Sortino Ratio Rank: 65
HF Omega Ratio Rank: 70
HF Calmar Ratio Rank: 75
HF Martin Ratio Rank: 72

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. HF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and DGA Core Plus Absolute Return ETF (HF). 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	HF	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.91	-0.10
Sortino ratio: Return per unit of downside risk	2.55	2.72	-0.17
Omega ratio: Gain probability vs. loss probability	1.34	1.37	-0.04
Calmar ratio: Return relative to maximum drawdown	3.58	3.44	+0.14
Martin ratio: Return relative to average drawdown	13.09	12.16	+0.93

HFND vs. HF - Sharpe Ratio Comparison

The current HFND Sharpe Ratio is 1.80, which is comparable to the HF Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of HFND and HF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HFND vs. HF - Drawdown Comparison

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

Drawdown Indicators

	HFND	HF	Difference
Max Drawdown Largest peak-to-trough decline	-13.31%	-5.94%	-7.37%
Max Drawdown (1Y) Largest decline over 1 year	-4.94%	-3.14%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	-13.31%	—	—
Current Drawdown Current decline from peak	-1.30%	-1.51%	+0.21%
Average Drawdown Average peak-to-trough decline	-2.08%	-1.63%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	0.89%	+0.46%

Volatility

HFND vs. HF - Volatility Comparison

Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) has a higher volatility of 3.37% compared to DGA Core Plus Absolute Return ETF (HF) at 3.00%. This indicates that HFND's price experiences larger fluctuations and is considered to be riskier than HF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFND	HF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	3.00%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	8.11%	4.77%	+3.34%
Volatility (1Y) Calculated over the trailing 1-year period	9.82%	5.69%	+4.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.53%	6.39%	+3.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.53%	6.39%	+3.14%

HFND vs. HF - Expense Ratio Comparison

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

Dividends

HFND vs. HF - Dividend Comparison

HFND's dividend yield for the trailing twelve months is around 4.70%, more than HF's 0.90% 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	4.70%	5.08%	3.70%	1.41%	0.43%

Frequently Asked Questions

Can I hold both HFND and HF in my portfolio?

HFND and HF have a correlation of 0.74, 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 HF?

HFND has higher volatility (3.37%) compared to HF (3.00%). In terms of maximum drawdown, HFND dropped -13.31% vs HF's -5.94%.

Which ETF is better, HFND or HF?

On 1-year performance, HFND leads with 17.63% vs 10.77% for HF. On fees, HFND is cheaper at 1.22% per year. On volatility, HF has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HFND or HF?

Over the 1-year period, HFND has performed better with a 17.63% return vs 10.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFND or HF?

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

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

HFND has the higher dividend yield at 4.70%, compared with 0.90% for HF.

What is the main difference between HFND and HF?

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

Which has better risk-adjusted returns?

HF currently has the higher Sharpe Ratio (1.91 vs 1.80), 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.