TUG vs. HECA

Last updated Jul 14, 2026

TUG (STF Tactical Growth ETF) and HECA (Hedgeye Capital Allocation ETF) are both exchange-traded funds - TUG is a Diversified Portfolio fund actively managed by STF, while HECA is a Global Allocation fund actively managed by Hedgeye. Both are actively managed. Over the past year, TUG returned 28.92% vs 10.92% for HECA. At a 0.43 correlation, their price movements are largely independent. TUG charges 0.65%/yr vs 1.02%/yr for HECA.

Performance

TUG vs. HECA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in STF Tactical Growth ETF (TUG) and Hedgeye Capital Allocation ETF (HECA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TUG achieves a 16.19% return, which is significantly higher than HECA's -1.41% return.

TUG

• 1D: -1.57%
• 1M: -0.26%
• 6M: 13.86%
• YTD: 16.19%
• 1Y: 28.92%
• 3Y*: 20.68%
• 5Y*: —
• 10Y*: —

HECA

• 1D: 0.02%
• 1M: 0.22%
• 6M: -5.40%
• YTD: -1.41%
• 1Y: 10.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TUG vs. HECA - Yearly Performance Comparison

	2026 (YTD)	2025
TUG STF Tactical Growth ETF	16.19%	11.38%
HECA Hedgeye Capital Allocation ETF	-1.41%	12.83%

Correlation

The correlation between TUG and HECA is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.43

Return for Risk

TUG vs. HECA — Risk / Return Rank

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

TUG

TUG Risk / Return Rank: 59
TUG Sharpe Ratio Rank: 60
TUG Sortino Ratio Rank: 56
TUG Omega Ratio Rank: 56
TUG Calmar Ratio Rank: 59
TUG Martin Ratio Rank: 60

HECA

HECA Risk / Return Rank: 26
HECA Sharpe Ratio Rank: 30
HECA Sortino Ratio Rank: 29
HECA Omega Ratio Rank: 30
HECA Calmar Ratio Rank: 23
HECA Martin Ratio Rank: 20

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.

TUG vs. HECA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for STF Tactical Growth ETF (TUG) and Hedgeye Capital Allocation ETF (HECA). 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.

	TUG	HECA	Difference
Sharpe ratio: Return per unit of total volatility	1.59	0.88	+0.71
Sortino ratio: Return per unit of downside risk	2.15	1.31	+0.85
Omega ratio: Gain probability vs. loss probability	1.28	1.17	+0.11
Calmar ratio: Return relative to maximum drawdown	2.36	0.86	+1.50
Martin ratio: Return relative to average drawdown	8.41	1.83	+6.58

TUG vs. HECA - Sharpe Ratio Comparison

The current TUG Sharpe Ratio is 1.59, which is higher than the HECA Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of TUG and HECA, 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

TUG vs. HECA - Drawdown Comparison

The maximum TUG drawdown since its inception was -22.27%, which is greater than HECA's maximum drawdown of -12.82%. Use the drawdown chart below to compare losses from any high point for TUG and HECA.

Drawdown Indicators

	TUG	HECA	Difference
Max Drawdown Largest peak-to-trough decline	-22.27%	-12.82%	-9.45%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	-12.82%	+0.51%
Max Drawdown (3Y) Largest decline over 3 years	-22.27%	—	—
Current Drawdown Current decline from peak	-3.92%	-11.55%	+7.63%
Average Drawdown Average peak-to-trough decline	-4.29%	-4.00%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	5.97%	-2.52%

Volatility

TUG vs. HECA - Volatility Comparison

STF Tactical Growth ETF (TUG) has a higher volatility of 7.79% compared to Hedgeye Capital Allocation ETF (HECA) at 1.91%. This indicates that TUG's price experiences larger fluctuations and is considered to be riskier than HECA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TUG	HECA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.79%	1.91%	+5.88%
Volatility (6M) Calculated over the trailing 6-month period	14.93%	8.55%	+6.38%
Volatility (1Y) Calculated over the trailing 1-year period	18.26%	12.46%	+5.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.37%	12.30%	+6.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.37%	12.30%	+6.07%

TUG vs. HECA - Expense Ratio Comparison

TUG has a 0.65% expense ratio, which is lower than HECA's 1.02% expense ratio.

Dividends

TUG vs. HECA - Dividend Comparison

TUG's dividend yield for the trailing twelve months is around 1.45%, less than HECA's 2.05% yield.

Position	TTM	2025	2024	2023	2022
HECA Hedgeye Capital Allocation ETF	2.05%	2.02%	0.00%	0.00%	0.00%
TUG STF Tactical Growth ETF	1.45%	1.75%	4.97%	1.34%	1.14%

Frequently Asked Questions

Can I hold both TUG and HECA in my portfolio?

TUG and HECA have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TUG or HECA?

TUG has higher volatility (7.79%) compared to HECA (1.91%). In terms of maximum drawdown, TUG dropped -22.27% vs HECA's -12.82%.

Which ETF is better, TUG or HECA?

On 1-year performance, TUG leads with 28.92% vs 10.92% for HECA. On fees, TUG is cheaper at 0.65% per year. On volatility, HECA has been the lower-risk option at 1.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TUG or HECA?

Over the 1-year period, TUG has performed better with a 28.92% return vs 10.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TUG or HECA?

TUG is cheaper with a 0.65% expense ratio, compared with 1.02% for HECA.

Which ETF pays a higher dividend yield, TUG or HECA?

HECA has the higher dividend yield at 2.05%, compared with 1.45% for TUG.

What is the main difference between TUG and HECA?

TUG is categorized as Diversified Portfolio, while HECA is Global Allocation. They also come from different issuers: STF and Hedgeye. Their fees differ too: 0.65% for TUG and 1.02% for HECA.

Which has better risk-adjusted returns?

TUG currently has the higher Sharpe Ratio (1.59 vs 0.88), 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.