HGRO vs. HEFT

Last updated Aug 4, 2026

HGRO (Hedgeye Quality Growth ETF) and HEFT (Hedgeye Fourth Turning ETF) are both exchange-traded funds - HGRO is a Quality Factor fund actively managed by Hedgeye, while HEFT is a Long-Short fund actively managed by Hedgeye. Both are actively managed. Their 0.46 correlation means their historical movements had little consistent relationship. Both charge a 0.70% expense ratio.

Performance

HGRO vs. HEFT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hedgeye Quality Growth ETF (HGRO) and Hedgeye Fourth Turning ETF (HEFT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HGRO achieves a 7.49% return, which is significantly higher than HEFT's 3.01% return.

HGRO

• 1D: 0.86%
• 1M: -1.29%
• 6M: 3.85%
• YTD: 7.49%
• 1Y: 17.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.93%

HEFT

• 1D: -0.27%
• 1M: -0.69%
• 6M: -3.70%
• YTD: 3.01%
• 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)
HEFT Hedgeye Fourth Turning ETF	$492.68K	$622.20K	$803.37K
HGRO Hedgeye Quality Growth ETF	$1.36M	$1.39M	$1.92M

HGRO vs. HEFT - Yearly Performance Comparison

	2026 (YTD)	2025
HGRO Hedgeye Quality Growth ETF	7.49%	4.29%
HEFT Hedgeye Fourth Turning ETF	3.01%	1.10%

Correlation

The correlation between HGRO and HEFT is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.46

Return for Risk

HGRO vs. HEFT — Risk / Return Rank

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

HGRO

HGRO Risk / Return Rank: 48
HGRO Sharpe Ratio Rank: 45
HGRO Sortino Ratio Rank: 43
HGRO Omega Ratio Rank: 42
HGRO Calmar Ratio Rank: 59
HGRO Martin Ratio Rank: 52

HEFT

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.

HGRO vs. HEFT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hedgeye Quality Growth ETF (HGRO) and Hedgeye Fourth Turning ETF (HEFT). 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.

	HGRO	HEFT	Difference
Sharpe ratio: Return per unit of total volatility	1.24	—	—
Sortino ratio: Return per unit of downside risk	1.72	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	2.28	—	—
Martin ratio: Return relative to average drawdown	6.60	—	—

Drawdowns

HGRO vs. HEFT - Drawdown Comparison

The maximum HGRO drawdown since its inception was -7.61%, smaller than the maximum HEFT drawdown of -9.17%. Use the drawdown chart below to compare losses from any high point for HGRO and HEFT.

Drawdown Indicators

	HGRO	HEFT	Difference
Max Drawdown Largest peak-to-trough decline	-7.61%	-9.17%	+1.56%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	—	—
Current Drawdown Current decline from peak	-3.99%	-7.07%	+3.08%
Average Drawdown Average peak-to-trough decline	-1.65%	-3.81%	+2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	—	—

Volatility

Volatility by Period

	HGRO	HEFT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.76%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.04%	12.63%	+1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.69%	12.63%	+1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.69%	12.63%	+1.06%

HGRO vs. HEFT - Expense Ratio Comparison

Both HGRO and HEFT have an expense ratio of 0.70%.

Dividends

HGRO vs. HEFT - Dividend Comparison

HGRO's dividend yield for the trailing twelve months is around 0.07%, more than HEFT's 0.02% yield.

Position	TTM	2025
HEFT Hedgeye Fourth Turning ETF	0.02%	0.02%
HGRO Hedgeye Quality Growth ETF	0.07%	0.08%

Frequently Asked Questions

Can I hold both HGRO and HEFT in my portfolio?

HGRO and HEFT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HGRO or HEFT?

Both ETFs have the same 0.70% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HGRO or HEFT?

HGRO and HEFT have the same expense ratio: 0.70% per year.

Which ETF pays a higher dividend yield, HGRO or HEFT?

HGRO has the higher dividend yield at 0.07%, compared with 0.02% for HEFT.

What is the main difference between HGRO and HEFT?

HGRO is categorized as Quality Factor, while HEFT is Long-Short.