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Launched

Day Hagan Smart Buffer ETF

DHSBNYSE ArcaD

$27.73−0.09 (−0.31%)

As of Oct 13, 2026, 1:28 PM

D37/ 100

Rank 6 of 7 in S&P 500 Buffer

D37/100Rank 6 of 7inS&P 500 Buffer
Intraday session: down, 4 prints from 27.82 to 27.73. Range 27.73 to 27.82. Use the arrow keys to read each point.27.7427.7627.7827.8010 AM12 PM2 PM4 PM
Expense ratio
0.68%
Fund size
$39M
1Y total return
+9.1%
Yield · Last 12 months
Data unavailable
Holdings
3
Avg volume · 30D
0M sh
NAV per share
$27.82
52W range
low $25.28high $27.92
Launched

The ETF.net DHSB Grade

Based on 5 of 6 pillars

D

Score 37 out of 100

Category
S&P 500 Buffer⁠
Rank
6 of 7
Six-pillar profile for DHSB. Scores out of 100: Cost 30, Risk 45, Mission not scored, Tradability 42, Holdings 45, Durability 40. Strongest: Risk (45). Weakest: Cost (30). Based on 5 of 6 pillars.

Score 37 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.
    D30 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.
    C45 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.
    C42 out of 100
    Rank 5 of 7

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C45 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

DA buffer fund without the calendar. Day Hagan skips the fixed 12-month outcome period and instead actively runs options over broad U.S. equity exposure, hedging downside and harvesting income as conditions change.

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

  1. 01Undercuts the typical options-overlay fund on fees at 0.68%, below the 0.75% cohort median.
  2. 02Actively managed rather than locked to a defined outcome window: the manager sizes the hedge and the income leg as markets move, per the fund's stated objective.
  3. 03Simple engine room. It holds U.S.-listed ETFs and equities tied to broad U.S. indexes, then layers options on top, so the underlying exposure is easy to understand.
  4. 04Grades out in the upper half of its options-income peer group on the whole, despite being one of the newest names in it.

Worth knowing

  1. 01No published buffer percentage or reset date. Protection comes from the manager's option positions, not a stated defined-outcome contract, so the cushion varies.
  2. 02Launched in 2025, so the track record is short and it is still building an asset base. Light volume can widen bid-ask spreads; limit orders are worth using.
  3. 03Income is written into the strategy, not the payout schedule: distributions come annually or semiannually, not monthly.

DHSB Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
3
Top-10 weight
103%
Largest holding
SPY100.3%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001SPYSpdr S&P 500 Etf Trust100.31%50,600$39M42
002—Spy Us 03/19/27 P7552.42%506$949K1
003—Cash and Cash Equivalents0.07%25,699$26K124

Showing 1–3 of 3 holdings

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$10,907
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. DHSB $10,907. SPY $12,044. Use the arrow keys to read each point.$9,582$10,912$12,243Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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+7.1%
1 month+0.9%
3 months+2.0%
1 year+9.1%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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 DHSB
YearReturn barDHSB
2026 YTD+7.1%
2025+4.8%

History from Feb 14, 2025

DHSB in the news

No ETF.net Research article names DHSB yet.

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

DHSB Risk

How much the fund’s monthly returns vary, scaled to a year.
4.5%
Annualised · 19 months to Sep 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.
0.79
vs 3-month T-bills · 19 months to Sep 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%
19 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.

DHSB Cost

Expense ratio0.68%
  • The middle half of S&P 500 Buffer funds
  • Median 0.58%

5 of the 7 S&P 500 Buffer funds charge less.

DHSB costs $68.00 a year on $10,000. The median S&P 500 Buffer fund costs $58.00.

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