HFND vs. HOLD

Last updated Jul 15, 2026

HFND (Unlimited HFND Multi-Strategy Return Tracker ETF) and HOLD (Harbor Alpha Layering ETF) are both Multistrategy funds. Both are actively managed. A 0.68 correlation means they provide meaningful diversification when combined. HFND charges 1.22%/yr vs 0.70%/yr for HOLD.

Performance

HFND vs. HOLD - Performance Comparison

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

Returns By Period

In the year-to-date period, HFND achieves a 8.21% return, which is significantly higher than HOLD's 5.58% return.

HFND

• 1D: 0.23%
• 1M: -0.04%
• 6M: 5.49%
• YTD: 8.21%
• 1Y: 15.00%
• 3Y*: 8.92%
• 5Y*: —
• 10Y*: —

HOLD

• 1D: -0.49%
• 1M: -3.01%
• 6M: 3.31%
• YTD: 5.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HFND vs. HOLD - Yearly Performance Comparison

	2026 (YTD)	2025
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	8.21%	3.67%
HOLD Harbor Alpha Layering ETF	5.58%	8.77%

Correlation

The correlation between HFND and HOLD is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 14, 2025	0.68

Return for Risk

HFND vs. HOLD — 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: 56
HFND Sortino Ratio Rank: 56
HFND Omega Ratio Rank: 56
HFND Calmar Ratio Rank: 75
HFND Martin Ratio Rank: 75

HOLD

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

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. HOLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and Harbor Alpha Layering ETF (HOLD). 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	HOLD	Difference
Sharpe ratio: Return per unit of total volatility	1.52	—	—
Sortino ratio: Return per unit of downside risk	2.18	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	3.05	—	—
Martin ratio: Return relative to average drawdown	10.93	—	—

Drawdowns

HFND vs. HOLD - Drawdown Comparison

The maximum HFND drawdown since its inception was -13.31%, which is greater than HOLD's maximum drawdown of -9.47%. Use the drawdown chart below to compare losses from any high point for HFND and HOLD.

Drawdown Indicators

	HFND	HOLD	Difference
Max Drawdown Largest peak-to-trough decline	-13.31%	-9.47%	-3.84%
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	-1.25%	-7.43%	+6.18%
Average Drawdown Average peak-to-trough decline	-2.06%	-2.40%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	—	—

Volatility

Volatility by Period

	HFND	HOLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.80%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.89%	15.50%	-5.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.50%	15.50%	-6.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.50%	15.50%	-6.00%

HFND vs. HOLD - Expense Ratio Comparison

HFND has a 1.22% expense ratio, which is higher than HOLD's 0.70% expense ratio.

Dividends

HFND vs. HOLD - Dividend Comparison

HFND's dividend yield for the trailing twelve months is around 4.69%, less than HOLD's 6.93% yield.

Position	TTM	2025	2024	2023	2022
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	4.69%	5.08%	3.70%	1.41%	0.43%
HOLD Harbor Alpha Layering ETF	6.93%	7.32%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HFND and HOLD in my portfolio?

HFND and HOLD have a correlation of 0.68, 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 HOLD?

On fees, HOLD is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HFND or HOLD?

HOLD is cheaper with a 0.70% expense ratio, compared with 1.22% for HFND.

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

HOLD has the higher dividend yield at 6.93%, compared with 4.69% for HFND.

What is the main difference between HFND and HOLD?

They also come from different issuers: Tidal ETFs and Harbor. Their fees differ too: 1.22% for HFND and 0.70% for HOLD.