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Launched

Day Hagan Smart Buffer ETF

DHSBNYSE ArcaDay HaganD

$27.59−0.01 (−0.04%)

As of Nov 2, 2026, 2:52 PM ET

D34/ 100

Rank 6 of 7 in S&P 500 Buffer

D34/100Rank 6 of 7inS&P 500 Buffer
Intraday session: down, 59 prints from 27.60 to 27.59. Range 27.50 to 27.75. Use the arrow keys to read each point.27.5027.5527.6527.7027.7510 AM12 PM2 PM4 PM
Expense ratio
0.82%
Fund size
$39M
1Y total return
+7.6%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
2.55K sh
52W range
low $25.28high $27.92
Launched

The ETF.net DHSB Grade

Based on 5 of 6 pillars

D

Score 34 out of 100

Category
S&P 500 Buffer⁠
Rank
6 of 7
Six-pillar profile for DHSB. Scores out of 100: Cost 24, Risk 49, Mission not scored, Tradability 28, Holdings 50, Durability 40. Strongest: Holdings (50). Weakest: Cost (24). Based on 5 of 6 pillars.

Score 34 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F24 out of 100
    Rank 6 of 7

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C49 out of 100
    Rank 5 of 7

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D28 out of 100
    Rank 6 of 7

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C50 out of 100
    Rank 4 of 5

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C40 out of 100
    Rank 4 of 7

Our read on DHSB

ETF.net Research

In short

DA buffer fund without a calendar. Day Hagan owns U.S. equity ETFs and stocks, sells calls against them, and spends the premium on puts, with the manager free to reset the buffer and cap as markets move.

Stated mandate

The Fund seeks long-term capital appreciation and preservation of capital. It is an actively managed ETF that primarily uses U.S.-listed ETFs and equity securities tied to broad U.S. equity indexes, while using options to generate income and hedge losses.

Why people hold it

  • The buffer and cap aren't locked to a set outcome period: the advisor can reset them at any time, at its discretion, based on market conditions and its risk objectives.sec.gov
  • Holds U.S. equity ETFs and stocks outright, writes calls on up to 100% of each position, and uses part of that premium to buy puts or put spreads.sec.gov
  • Current buffer and cap levels are posted daily on the fund's website, so the trade-off in place is visible rather than guesswork.sec.gov

Worth knowing

  • Costs 0.82% with no fee waiver, above the category median and above peers such as HJUN at 0.30% and SWAN at 0.49%.
  • Protection isn't fixed: the buffer's size shifts as holdings and options move, the overlay can be adjusted or suspended, and the prospectus notes no assurance it works as sought.sec.gov
  • Launched February 2025, non-diversified, and one of the smaller, less-traded funds in its peer group, so there's limited track record to judge.sec.gov

DHSB Performance

Launched Feb 13, 2025

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

Not enough history yet.Not enough history yet.Not enough history yet.
DHSB$10,764
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. DHSB $10,764. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 DHSB. Periods over one year show the average yearly return.
PeriodDHSB
Year to date+6.4%
1 month0.0%
3 months+1.5%
1 year+7.6%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 DHSB
YearReturn barDHSB
2026 YTD+6.4%
2025+4.8%

History from Feb 14, 2025

DHSB in the news

DHSB Dividends

Last payment
$0.32 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 29, 2025 $0.32. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 29, 2025Dec 30, 2025$0.32

$10,000 in DHSB 1 year ago paid $125 in dividends.

DHSB Risk

Risk pillarC49 out of 100Rank 5 of 7 in S&P 500 Buffer
How much the fund’s monthly returns vary, scaled to a year.
4.4%
Annualised · 20 months to Oct 2026
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.
0.72
vs 3-month T-bills · 20 months to Oct 2026
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.
−7.7%
20 months · trough Apr 2025
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.
0.33
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.

FMP measures it over up to five years of monthly returns.

DHSB Cost

Compare DHSB and HJUN

Overpaying vs HJUN, cheapest in S&P 500 Buffer

$9,540

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DHSB 0.82%

    $15,689

  • HJUN 0.30% Cheapest

    $6,149

$10,000
30 years

Cost over time

  • DHSB 0.82%
  • HJUN 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DHSB $15,689HJUN $6,149

Year by year

YearDHSBHJUNOverpaying
10$1,457$545$912
20$5,519$2,113$3,406
30$15,689$6,149$9,540

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