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Launched · SEC filings

Equable Shares Hedged Equity ETF

HEDGNYSE ArcaC

$30.75−0.04 (−0.11%)

At close: Nov 2, 2026, 4:00 PM ET

C53/ 100

Rank 31 of 52 in S&P 500 Option Income

C53/100Rank 31 of 52inS&P 500 Option Income
Intraday session: down, 73 prints from 30.79 to 30.75. Range 30.75 to 30.93. Use the arrow keys to read each point.30.8530.9010 AM12 PM2 PM4 PM
Expense ratio
0.96%
Fund size
$469M
1Y total return
+8.8%
Yield · Last 12 months
No data
Holdings
6
Avg volume · 30D
37.1K sh
52W range
low $28.15high $33.32
Launched
Filings
SEC EDGAR

The ETF.net HEDG Grade

C

Score 53 out of 100

Category
S&P 500 Option Income⁠
Rank
31 of 52
Six-pillar profile for HEDG. Scores out of 100: Cost 14, Risk 72, Mission 96, Tradability 49, Holdings 42, Durability 69. Strongest: Mission (96). Weakest: Cost (14). Leans toward Mission.

Score 53 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.
    F14 out of 100
    Rank 44 of 52

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A96 out of 100
    Rank 14 of 36

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A72 out of 100
    Rank 8 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C49 out of 100
    Rank 26 of 52

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C42 out of 100
    Rank 29 of 41

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B69 out of 100
    Rank 13 of 52

Our read on HEDG

ETF.net Research

In short

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

  • Two-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
  • Not 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
  • The 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

  • The 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
  • Trades lightly next to category heavyweights like XYLD and SPYI, so spreads can be wider, and cash goes out quarterly rather than monthly.
  • Written 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

Holdings pillarC42 out of 100Rank 29 of 41 in S&P 500 Option Income
Asset class
Stocks
Holdings
6
Top-10 weight
103%
Largest holding
IVV76.8%

Sectors

  • Technology40.4%
  • Financials11.2%
  • Communication9.9%
  • Health Care9.3%
  • Consumer Discretionary8.7%
  • Industrials7.5%
  • Consumer Staples4.3%
  • Energy3.4%
  • Utilities1.9%
  • Real Estate1.7%
  • Materials1.6%

Geography

  • United States99.55%
  • Switzerland0.26%
  • China0.09%
  • Mexico0.04%
  • Ireland0.03%
  • United Kingdom0.03%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1IVViShares Core S&P 500 ETF76.84%475,000$361M59
2SPYState Street SPDR S&P 500 ETF Trust20.13%125,000$94.5M43
3No dataU.S. Bank Money Market Deposit Account 08/01/20315.37%25,193,338$25.2M22
4OPERClearshares Ultra-Short Maturity ETF0.43%20,000$2M2
5No dataSpy Us 12/31/26 P7300.41%1,800$1.92M1
6No dataBNY Dreyfus Government Cash Management 12/31/20310.00%0$0.4624

Showing 1–6 of 6 holdings

HEDG Performance

Launched May 31, 2019

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.
HEDG$10,881
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. HEDG $10,881. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+6.6%
1 month+0.2%
3 months+2.3%
1 year+8.8%
3 yearsHistory unavailableper yearNo data
5 yearsHistory unavailableper 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 HEDG
YearReturn barHEDG
2026 YTD+6.6%
2025+3.1%

History from Oct 13, 2025

HEDG in the news

HEDG Dividends

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. 4 payments from 2025 to 2026 YTD. Dec 16, 2025 $0.40; Mar 26, 2026 $0.15; Jun 25, 2026 $0.15; Sep 24, 2026 $0.15. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 24, 2026Sep 25, 2026$0.15
Jun 25, 2026Jun 26, 2026$0.15
Mar 26, 2026Mar 27, 2026$0.15
Dec 16, 2025Dec 17, 2025$0.40

$10,000 in HEDG 1 year ago paid $293 in dividends.

HEDG Risk

Risk pillarA72 out of 100Rank 8 of 52 in S&P 500 Option Income
How much the fund’s monthly returns vary, scaled to a year.
3.6%
Annualised · 12 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.
1.31
vs 3-month T-bills · 12 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.
−3.8%
12 months · trough Mar 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.
0.26
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.

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

HEDG Cost

Compare HEDG and PEPS

Overpaying vs PEPS, cheapest in S&P 500 Option Income

$15,928

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

  • HEDG 0.96%

    $18,034

  • PEPS 0.10% Cheapest

    $2,106

$10,000
30 years

Cost over time

  • HEDG 0.96%
  • PEPS 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530HEDG $18,034PEPS $2,106

Year by year

YearHEDGPEPSOverpaying
10$1,695$183$1,512
20$6,383$717$5,666
30$18,034$2,106$15,928

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