State Street Galaxy Hedged Digital Asset Ecosystem ETF
$57.54−9.20 (−13.79%)
- 0.90%
- $76M
- +31.1%
- 0.00%
- 0M sh
- $59.68
- low $37.57high $74.28
The ETF.net HECO Grade
C
Score 42 out of 100
- 13 of 20
Score 42 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.F0 out of 100Rank 20 of 20Mission
Whether the fund did what it promised, tested against its stated mandate.C43 out of 100Rank 1 of 2Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A90 out of 100Rank 2 of 20Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B68 out of 100Rank 7 of 20Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C52 out of 100Rank 11 of 19Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B61 out of 100Rank 9 of 20
Our read on HECO
CCrypto-adjacent stocks with an airbag bolted on. HECO holds the miners, exchanges and blockchain builders, adds crypto exposure via ETFs and futures, then runs an options overlay built to damp the volatility.
The fund seeks long-term capital appreciation by investing in companies expected to benefit from crypto-asset and blockchain adoption, while also obtaining crypto exposure through ETFs and futures. It uses an option-overlay hedge strategy to manage overall volatility.
Why people hold it
- The hedge is the point: an option overlay sits on top of the crypto-equity basket to manage overall volatility, a different bargain than owning the sector raw.ssga.com
- Two exposures in one wrapper: operating companies expected to benefit from crypto and blockchain adoption, plus direct crypto exposure through ETFs and futures.ssga.com
- Actively managed, global mandate, roughly 60 holdings. The manager can rotate as the ecosystem shifts rather than ride a fixed index.
- Conventional 1940 Act ETF plumbing from State Street, run alongside Galaxy on the digital-asset side.
Worth knowing
- At 0.90% a year it prices above the typical fund in its crypto-equity peer group, and above its unhedged sibling DECO at 0.65%. The overlay is the upcharge.
- Thinly traded, so spreads can widen. Limit orders matter more here than in the category's heavyweights.
- Hedges cut both ways: damping volatility also means surrendering some of the sector's sharpest upswings. Short history too, with a 2024 launch.
HECO Holdings
- Stocks
- 44
- 62%
- RIOT
Sectors
- Financials47.2%
- Technology47.2%
- Industrials5.5%
Geography
- United States93.99%
- Australia2.58%
- Taiwan (Province of China)2.12%
- United Kingdom1.31%
HECO Performance
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.
HECO$13,110
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.
| Period | HECO |
|---|---|
| Year to date | +47.4% |
| 1 month | −9.7% |
| 3 months | −10.8% |
| 1 year | +31.1% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HECO |
|---|---|---|
| 2026 YTD | +47.4% | |
| 2025 | +14.0% | |
| 2024 | +41.0% |
HECO in the news
Filings Digest
CoinShares to liquidate BTF and DIME on October 21
HECO Dividends
- 0.00%
No distributions in the last 12 months.
Distribution history
HECO Risk
- 46.8%
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.
- 1.05
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.
- −44.6%
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.
- 3.18
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HECO Cost
0.90%
HECO0.90%
- The middle half of Crypto Industry Stocks funds
- Median 0.66%
Every other Crypto Industry Stocks fund charges less.
Other funds in Crypto Industry Stocks
- CSATOInvesco Alerian Galaxy Crypto Economy ETFExpense ratio 0.66%1 year return −35.4%
- CWGMICoinShares Bitcoin Mining ETFExpense ratio 0.75%1 year return −29.5%
- CBCORGrayscale Bitcoin Adopters ETFExpense ratio 0.59%1 year return −20.4%
- CBLCKCorgi ETF Trust I - Corgi Crypto Infrastructure ETFExpense ratio 0.35%1 year return —
- CSTBQAmplify Stablecoin Technology ETFExpense ratio 0.69%1 year return —