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Launched · SEC filings

Hedgeye Capital Allocation ETF

HECANYSE ArcaC

$27.24−0.05 (−0.18%)

As of Oct 13, 2026, 3:59 PM

C43/ 100

Rank 27 of 37 in Multi-Asset Allocation

C43/100Rank 27 of 37inMulti-Asset Allocation
Intraday session: down, 29 prints from 27.29 to 27.24. Range 27.21 to 27.34. Use the arrow keys to read each point.27.2327.2727.3210 AM12 PM2 PM4 PM
Expense ratio
0.81%
Fund size
$257M
1Y total return
+0.5%
Yield · Last 12 months
Data unavailable
Holdings
17
Avg volume · 30D
0.1M sh
NAV per share
$27.36
52W range
low $26.66high $30.90
Launched
Filings
SEC EDGAR

The ETF.net HECA Grade

C

Score 43 out of 100

Category
Multi-Asset Allocation⁠
Rank
27 of 37
Six-pillar profile for HECA. Scores out of 100: Cost 25, Risk 25, Mission 71, Tradability 54, Holdings 43, Durability 48. Strongest: Mission (71). Weakest: Risk (25). Leans toward Mission.

Score 43 of 100 falls in the C 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.
    D25 out of 100
    Rank 28 of 37

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A71 out of 100
    Rank 15 of 29

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D25 out of 100
    Rank 29 of 35

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C54 out of 100
    Rank 15 of 37

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C43 out of 100
    Rank 23 of 33

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C48 out of 100
    Rank 26 of 37

Our read on HECA

ETF.net Research

CHedgeye's macro process in an ETF wrapper: an active fund-of-funds that rotates among stocks, bonds, commodities and currencies, aiming to maximize rolling 12-month returns while holding peak-to-trough NAV declines to 15%.

Stated mandate

The Fund actively allocates among equities, bonds and other debt instruments, commodities, and currencies, primarily through ETFs. It seeks to maximize returns over rolling 12-month periods while limiting peak-to-trough NAV declines to 15%, without guaranteeing that outcome.

Why people hold it

  1. 01The mandate is the differentiator. Most allocation funds lock in a fixed stock/bond split; this one steers by an explicit 15% ceiling on peak-to-trough NAV declines.
  2. 02Four asset classes behind one ticker: equities, bonds, commodities and currencies, held mainly through ETFs, so the macro shifts happen inside the fund instead of on your trade screen.
  3. 03For a young fund it trades cleanly, with steady volume and a market price that tracks close to the value of what it holds.
  4. 04The portfolio lines up with the all-asset job described in its filings, not a stock fund wearing a multi-asset label.

Worth knowing

  1. 01At 1.02% a year, the fee sits well above the typical allocation fund, where index-built rivals like AOA and NTSX run a fraction of that. Active macro is the reason; the hurdle is still there.
  2. 02The 15% drawdown limit is a target the manager pursues, not a contractual outcome. The prospectus says so outright.
  3. 03Launched in 2025, so there is no long record of the process running through a full market cycle, and distributions come once or twice a year rather than monthly.

HECA Holdings

As of Oct 12, 2026
Asset class
Other
Holdings
17
Top-10 weight
78%
Largest holding
Cash & Other14.7%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Cash & Other14.65%37,394,074$37M672
002FLTRVanEck IG Floating Rate ETF11.89%1,189,105$30M5
003JAAAJanus Henderson AAA CLO ETF10.26%518,315$26M15
004CIBRFirst Trust NASDAQ Cybersecurity ETF7.48%173,511$19M4
005XLKState Street Technology Select Sector SPDR ETF6.51%83,634$17M36
006CLOZEldridge BBB-B CLO ETF6.02%584,921$15M1
007DBMFiMGP DBi Managed Futures Strategy ETF5.93%456,446$15M11
008IGViShares Expanded Tech-Software Sector ETF5.92%134,090$15M8
009FLJPFranklin FTSE Japan ETF5.06%310,118$13M8
010FLTWFranklin FTSE Taiwan ETF4.29%99,160$11M3
011—First American Government Obligations Fund 12/01/20314.02%10,251,073$10M529
012RECSColumbia Research Enhanced Core ETF4.01%223,362$10M2
013BKLNInvesco Senior Loan ETF3.84%478,693$10M8
014CRAKVanEck Oil Refiners ETF3.16%121,563$8M2
015IBITiShares Bitcoin Trust ETF3.15%172,870$8M14

Showing 1–15 of 17 holdings

HECA Performance

Launched Jun 30, 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.
HECA$10,047
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. HECA $10,047. SPY $12,044. Use the arrow keys to read each point.$9,547$10,896$12,245Oct 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 HECA. Periods over one year show the average yearly return.
PeriodHECA
Year to date−1.3%
1 month−1.6%
3 months+0.1%
1 year+0.5%
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 HECA
YearReturn barHECA
2026 YTD−1.3%
2025+12.8%

History from Jul 1, 2025

HECA in the news

Filtered to HECA · Multi-Asset Allocation

HECA Dividends

Last payment
$0.56 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 30, 2025 $0.56. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$0.56

HECA Risk

How much the fund’s monthly returns vary, scaled to a year.
12.5%
Annualised · 14 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.
0.41
vs 3-month T-bills · 14 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.
−12.8%
15 months · trough Jun 2026
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.
0.10
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.

HECA Cost

Expense ratio0.81%
  • The middle half of Multi-Asset Allocation funds
  • Median 0.58%

27 of the 37 Multi-Asset Allocation funds charge less.

HECA costs $81.00 a year on $10,000. The median Multi-Asset Allocation fund costs $58.00.

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