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Launched · SEC filings

Hedgeye Capital Allocation ETF

HECANYSE ArcaHedgeyeC

$26.62+0.05 (+0.19%)

At close: Nov 9, 2026, 4:00 PM ET

C40/ 100

Rank 26 of 37 in Multi-Asset Allocation

C40/100Rank 26 of 37inMulti-Asset Allocation
Intraday session: up, 79 prints from 26.57 to 26.62. Range 26.60 to 26.65. Use the arrow keys to read each point.26.5826.6026.6410 AM12 PM2 PM4 PM
Expense ratio
0.81%
Fund size
$205M
1Y total return
−3.2%
Yield · Last 12 months
No data
Holdings
14
Avg volume · 30D
75.5K sh
52W range
low $26.50high $30.90
Launched
Filings
SEC EDGAR

The ETF.net HECA Grade

C

Score 40 out of 100

Category
Multi-Asset Allocation⁠
Rank
26 of 37
Six-pillar profile for HECA. Scores out of 100: Cost 28, Risk 25, Mission 63, Tradability 54, Holdings 25, Durability 44. Strongest: Mission (63). Weakest: Holdings (25). Leans toward Mission.

Score 40 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.
    D28 out of 100
    Rank 27 of 37

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B63 out of 100
    Rank 18 of 29

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D25 out of 100
    Rank 31 of 36

  • 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 16 of 37

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D25 out of 100
    Rank 30 of 33

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C44 out of 100
    Rank 26 of 37

Our read on HECA

ETF.net Research

In short

CA research shop's macro call, wrapped in an ETF. Hedgeye actively shifts among stocks, bonds, commodities and currencies (mostly via other ETFs) and writes a 15% peak-to-trough NAV drawdown limit into its own objective, which the prospectus does not guarantee.

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

  • The mandate is built around drawdowns, not a fixed 60/40: it aims to maximize returns over rolling 12-month periods while holding peak-to-trough NAV declines to 15%.sec.gov
  • Four asset classes in one ticker: equities, bonds and other debt, commodities and currencies, held largely through other ETFs, so the mix can rotate as the macro view changes.
  • Run by Hedgeye Asset Management, which applies its own macro research and risk framework here instead of licensing an outside index, an unusual setup in a category dominated by static blends.hedgeye.com

Worth knowing

  • Active judgment costs 0.81%, with no fee waiver and above the category median; index-built peers such as AOA (0.15% net of a waiver through November 30, 2026) and IRTR (0.08%) sit far lower.
  • The 15% drawdown figure is a target the fund states it cannot promise, and a discretionary macro call can trail a plain stock-and-bond mix when markets simply run.
  • Launched in 2025, so the track record is short next to allocation funds with decades behind them, and it distributes only once or twice a year.

HECA Holdings

Holdings pillarD25 out of 100Rank 30 of 33 in Multi-Asset Allocation
Asset class
Other
Holdings
14
Top-10 weight
96%
Largest holding
First American Government Obligations Fund 12/01/203144.2%

Geography

  • United States88.97%
  • Cayman Islands3.11%
  • Japan2.17%
  • United Kingdom1.55%
  • Australia1.34%
  • Canada0.85%
  • South Korea0.34%
  • France0.33%
  • Other countries (11)1.34%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataFirst American Government Obligations Fund 12/01/203144.21%90,060,528$90.1M467
2FLTRVanEck IG Floating Rate ETF12.84%1,027,197$26.2M6
3JAAAJanus Henderson AAA CLO ETF12.72%512,850$25.9M16
4CLOAiShares AAA CLO Active ETF10.24%402,709$20.9M2
5UUPInvesco DB US Dollar Index Bullish Fund3.40%237,826$6.93M4
6No dataCash & Other3.19%6,489,808$6.49M697
7LVHIFranklin International Low Volatility High Dividend Index ETF2.95%140,031$6M2
8RSPInvesco S&P 500 Equal Weight ETF2.75%25,937$5.6M18
9VGITVanguard Intermediate-Term Treasury ETF2.02%71,252$4.11M12
10XLVState Street Health Care Select Sector SPDR ETF1.84%20,245$3.74M34
11XLPState Street Consumer Staples Select Sector SPDR ETF1.31%29,606$2.67M22
12IHFiShares U.S. Healthcare Providers ETF1.29%44,278$2.62M3
13XLUState Street Utilities Select Sector SPDR ETF1.25%58,909$2.54M27
14VFLOVictoryShares Free Cash Flow ETF<0.01%340$17.7K4

Showing 1–14 of 14 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$9,680
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,088
Nov 6, 2025 to Nov 6, 2026. HECA $9,680. SPY $11,088. Use the arrow keys to read each point.$10,000$11,000Nov 2025May 2026Nov 2026

Nov 6, 2025 – Nov 6, 2026

Returns run to the Nov 6, 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−3.9%
1 month−3.3%
3 months−3.2%
1 year−3.2%
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 HECA
YearReturn barHECA
2026 YTD−3.9%
2025+12.8%

History from Jul 1, 2025

HECA in the news

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

$10,000 in HECA 1 year ago paid $200 in dividends.

HECA Risk

Risk pillarD25 out of 100Rank 31 of 36 in Multi-Asset Allocation
How much the fund’s monthly returns vary, scaled to a year.
12.3%
Annualised · 15 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.
0.22
vs 3-month T-bills · 15 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.
−13.9%
16 months · trough Nov 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.

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

HECA Cost

Compare HECA and UCBG

Overpaying vs UCBG, cheapest in Multi-Asset Allocation

$14,248

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

  • HECA 0.81%

    $15,518

  • UCBG 0.06% Cheapest

    $1,270

$10,000
30 years

Cost over time

  • HECA 0.81%
  • UCBG 0.06%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530HECA $15,518UCBG $1,270

Year by year

YearHECAUCBGOverpaying
10$1,439$110$1,329
20$5,456$432$5,024
30$15,518$1,270$14,248

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