HFND vs. HFGM

Last updated Apr 2, 2026

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

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

Performance

HFND vs. HFGM - Performance Comparison

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

HFND vs. HFGM - Yearly Performance Comparison

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

Returns By Period

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

HFND

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

HFGM

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

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

HFND vs. HFGM - Expense Ratio Comparison

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

HFND

Unlimited HFND Multi-Strategy Return Tracker ETF

HFGM

Unlimited HFGM Global Macro ETF

Return for Risk

HFND vs. HFGM — 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.

HFND vs. HFGM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and Unlimited HFGM Global Macro ETF (HFGM). 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	HFGM	Difference
Sharpe ratio Return per unit of total volatility	1.21	—	—
Sortino ratio Return per unit of downside risk	1.80	—	—
Omega ratio Gain probability vs. loss probability	1.26	—	—
Calmar ratio Return relative to maximum drawdown	1.61	—	—
Martin ratio Return relative to average drawdown	8.22	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

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

Correlation

The correlation between HFND and HFGM 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

HFND vs. HFGM - Dividend Comparison

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

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

Drawdowns

HFND vs. HFGM - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

Volatility by Period

	HFND	HFGM	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	11.93%	23.05%	-11.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.50%	23.05%	-13.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.50%	23.05%	-13.55%