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ADDS

GradeDNew York Stock Exchange Arca

Hedgeye Index Adds ETF

Active Equity · Hedgeye · Inception 2026-05-27

$25.71−0.18 (−0.70%)

As of Sep 23, 2026, 1:15 PM EDT

History starts May 28, 2026.History starts May 28, 2026.History starts May 28, 2026.
Intraday session: down, 9 prints from 25.89 to 25.71. Range 25.71 to 25.91. Use the arrow keys to read each point.$25.75$25.80$25.85$25.9010 AM12 PM2 PM4 PM
Expense ratio
0.70%
Fund size
$7M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0M sh
NAV per share
$25.15
52W range
low $23.36high $27.58

The ETF.net ADDS Grade

D

37/ 100

Rank 96 of 127 in US Active Equity⁠

Confidence Medium

Six-pillar profile for ADDS. Scores out of 100: Cost 48, Risk 11, Mission not scored, Tradability 47, Holdings 39, Durability 15. Strongest: Cost (48). Weakest: Risk (11). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 37 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned37This cap took−0Published score37 Grade D

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 48
    Category rank63/127 · top 50%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 11
    Category rank122/126 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 47
    Category rank67/127 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 39
    Category rank93/124 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 15
    Category rank124/127 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on ADDS

ETF.net Research

DIndex funds have to buy a stock the day it joins the S&P 500. ADDS is built to own the candidates before that happens and sell into the add: a trade long run by institutional desks, now in an ETF wrapper.

Stated mandate

The Fund seeks long-term capital appreciation through active investment primarily in U.S.-listed equity securities identified as likely candidates for near-term inclusion in major U.S. equity indices.

Why people hold it

  1. 01The mechanism is unusually specific: own likely additions to the S&P 500, 400, 600 and Nasdaq-100, then exit at the market-on-close on the day the stock joins its target index.app.hedgeye.com
  2. 02By rule it never holds a current S&P 500 member, so it is not a large-cap fund in disguise. Roughly 40 names, a 20% per-name cap, monthly rebalance cycle.app.hedgeye.com
  3. 03Holdings are picked on inclusion probability rather than sector or factor views, so the portfolio looks nothing like a typical active US equity fund.app.hedgeye.com
  4. 04Run by a portfolio manager whose career is in index-event trading, including buy-side roles and heading ETF trading for the Americas at a global bank.app.hedgeye.com

Worth knowing

  1. 01Brand new: launched in 2026 by a newly formed adviser with no prior ETF experience, a risk Hedgeye flags in its own materials.app.hedgeye.com
  2. 02The 0.70% fee matches the active US equity median, but broad active core funds like DFAU (0.12%) and AVLC (0.15%) charge a small fraction of it.
  3. 03A small, lightly traded fund concentrated in roughly 40 positions, so single-stock moves land hard and the spread deserves a look before you trade.app.hedgeye.com

ADDS Holdings

As of Sep 20, 2026, 9:16 AM
Asset class
Stocks
Holdings
—
Top-10 weight
69%
Largest holding
NTRA12.3%

Geography

  • United States81.50%
  • United Kingdom16.41%
  • Cayman Islands1.45%
  • Netherlands0.64%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001NTRANatera Inc12.30%2,297$848K223
002OKTAOkta Inc7.84%2,967$541K245
003TWLOTwilio Inc7.69%2,175$530K271
004MDLNMedline Inc7.45%16,256$514K114
005ATIATI Inc7.04%2,536$486K225
006FTITechnipFMC PLC6.16%5,900$425K268
007ALABAstera Labs Inc5.12%1,164$353K258
008NVTnVent Electric PLC5.11%2,232$352K252
009UPSTUpstart Holdings Inc5.02%13,866$347K77
010ROIVRoivant Sciences Ltd4.97%8,628$343K168
011LNGCheniere Energy Inc4.94%1,270$341K270
012SGRYSurgery Partners Inc2.85%14,825$196K73
013FIGSFigs Inc2.81%14,870$194K95
014PGENPrecigen Inc2.49%22,078$172K62
015CTRICenturi Holdings Inc2.31%8,232$159K74

Showing 1–15 of 41 holdings

ADDS Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

ADDS$9,760
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. ADDS $9,760. SPY $10,415. Use the arrow keys to read each point.$8,678$9,629$10,581Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for ADDS. Periods over one year show the average yearly return.
PeriodADDS
Year to dateFund launched this year—
1 month+4.5%
3 months−2.4%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for ADDS
YearReturn barADDS
2026 YTD+3.2%

History from May 28, 2026

ADDS in the news

ETF.net Research hasn’t filed on ADDS yet — coverage lands here as it’s written.

ADDS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed May 2026. No distributions yet.

ADDS Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched May 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched May 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched May 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−0.32
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

ADDS Cost

Expense ratio0.70%
  • The middle half of US Active Equity funds
  • Median 0.70%

61 of the 124 US Active Equity funds charge less.

ADDS costs $70.00 a year on $10,000. The median US Active Equity fund costs $70.00.