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HEDG

GradeCNew York Stock Exchange Arca

Equable Shares Hedged Equity ETF

Option Income · Equable · Inception 2019-05-31 · SEC filings

$30.88−0.11 (−0.35%)

As of Sep 23, 2026, 1:19 PM EDT

History starts Oct 13, 2025.History starts Oct 13, 2025.
Intraday session: down, 15 prints from 30.99 to 30.88. Range 30.85 to 30.96. Use the arrow keys to read each point.$30.85$30.90$30.93$30.9510 AM12 PM2 PM4 PM
Expense ratio
0.96%
Fund size
$458M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$30.91
52W range
low $28.15high $30.99

The ETF.net HEDG Grade

C

50/ 100

Rank 32 of 52 in S&P 500 Option Income⁠

Confidence High

Six-pillar profile for HEDG. Scores out of 100: Cost 15, Risk 74, Mission 79, Tradability 52, Holdings 42, Durability 70. Strongest: Mission (79). Weakest: Cost (15). Leans toward Mission and Risk.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 50 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 15
    Category rank44/52 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 79
    Category rank27/34 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 74
    Category rank6/52 · top 12%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 52
    Category rank22/52 · top 42%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 42
    Category rank31/41 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 70
    Category rank12/52 · top 23%

Graded as of Sep 22, 2026

Our read on HEDG

ETF.net Research

CA hedged-equity mutual fund that changed clothes. HEDG holds S&P 500 exposure through ETFs, sells covered calls, then spends much of that premium on put spreads. Option income here is fuel for the hedge, not the headline payout.

Stated mandate

The fund's stated mandate combines seeking income with mitigating risk and pursuing long-term capital appreciation.

Why people hold it

  1. 01Two-sided overlay: covered calls generate premium, put spreads put it to work cushioning drawdowns, rather than routing every dollar of premium to distributions.prnewswire.com
  2. 02Not a blank-slate launch. It is the EQHEX mutual fund converted tax-free into an ETF in 2025, same team, same strategy, with the prior track record carried into the wrapper.prnewswire.com
  3. 03The label matches the contents: US large-cap exposure referenced to the S&P 500, held through ETFs, with the options program layered on top. No style drift to decode.equableshares.com

Worth knowing

  1. 01The 0.92% fee sits above the typical S&P 500 options-income fund, and reaching index exposure through other ETFs layers underlying fund costs on top of that.stocktitan.net
  2. 02Trades lightly next to category heavyweights like XYLD and SPYI, so spreads can be wider, and cash goes out quarterly rather than monthly.
  3. 03Written calls give up part of a strong rally, and premium spent buying puts is premium not paid out, so income runs lighter than pure call-writing peers.prnewswire.com

HEDG Holdings

As of Sep 20, 2026, 10:18 AM
Asset class
Stocks
Holdings
—
Top-10 weight
103%
Largest holding
IVV76.9%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001IVViShares Core S&P 500 ETF76.95%460,000$352M54
002SPYState Street SPDR S&P 500 ETF Trust20.82%125,000$95M38
003—U.S. Bank Money Market Deposit Account 08/01/20313.34%15,278,526$15M21
004—Cash & Other0.83%3,812,245$4M674
005OPERClearshares Ultra-Short Maturity ETF0.44%20,000$2M2
006—SPY US 12/31/26 P7250.39%1,700$2M1
007—BNY Dreyfus Government Cash Management 12/31/20310.00%1$124

Showing 1–7 of 7 holdings

HEDG Performance

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

HEDG$10,673
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. HEDG $10,673. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 HEDG. Periods over one year show the average yearly return.
PeriodHEDG
Year to date+6.7%
1 month+1.2%
3 months+3.6%
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 yearsHistory unavailable—per year
10 yearsFund is under 10 years old—per 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 HEDG
YearReturn barHEDG
2026 YTD+6.7%
2025+3.1%

History from Oct 13, 2025

HEDG in the news

ETF.net Research hasn’t filed on HEDG yet — coverage lands here as it’s written.

HEDG Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.15 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 3 payments from 2025 to 2026 YTD. Dec 16, 2025 $0.40; Mar 26, 2026 $0.15; Jun 25, 2026 $0.15. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 25, 2026Jun 26, 2026$0.15
Mar 26, 2026Mar 27, 2026$0.15
Dec 16, 2025Dec 17, 2025$0.40

HEDG Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
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.
—
No data available
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.
—
No data available
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.
0.26
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.

HEDG Cost

Expense ratio0.96%
  • The middle half of S&P 500 Option Income funds
  • Median 0.60%

43 of the 51 S&P 500 Option Income funds charge less.

HEDG costs $96.00 a year on $10,000. The median S&P 500 Option Income fund costs $60.00.