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Launched

Hedgeye Fourth Turning ETF

HEFTNYSE ArcaB

$26.750.00 (+0.01%)

As of Oct 13, 2026, 3:28 PM

B56/ 100

Rank 20 of 46 in Tactical Allocation

B56/100Rank 20 of 46inTactical Allocation
Intraday session: up, 20 prints from 26.75 to 26.75. Range 26.64 to 26.79. Use the arrow keys to read each point.26.6526.6826.7026.7710 AM12 PM2 PM4 PM
Expense ratio
0.70%
Fund size
$80M
1Y total return
—
Yield · Last 12 months
Data unavailable
Holdings
34
Avg volume · 30D
0M sh
NAV per share
$26.75
52W range
low $24.92high $28.84
Launched

The ETF.net HEFT Grade

B

Score 56 out of 100

Category
Tactical Allocation⁠
Rank
20 of 46
Six-pillar profile for HEFT. Scores out of 100: Cost 67, Risk 33, Mission 61, Tradability 56, Holdings 49, Durability 53. Strongest: Cost (67). Weakest: Risk (33). Leans toward Cost and Mission.

Score 56 of 100 falls in the B 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.
    B67 out of 100
    Rank 16 of 46

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B61 out of 100
    Rank 16 of 27

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D33 out of 100
    Rank 39 of 46

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B56 out of 100
    Rank 18 of 46

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C49 out of 100
    Rank 22 of 43

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C53 out of 100
    Rank 27 of 46

Our read on HEFT

ETF.net Research

BA research shop's macro call in ETF form. HEFT runs an active long/short book guided by Fourth Turning generational theory: long what it reads as demographic tailwinds, short what it expects to fade.

Stated mandate

The Fund seeks long-term capital appreciation. It uses an actively managed long/short strategy informed by Fourth Turning generational theory, varying exposure across U.S. equities, fixed income, commodities, currencies, and up to 20% international securities.

Why people hold it

  1. 010.70% a year, below the median for tactical multi-asset funds, and that buys an active long/short mandate rather than a rules file on autopilot.
  2. 02The short sleeve is the point. Managers can position against areas they expect to weaken instead of only choosing which longs to own.
  3. 03One legible thesis drives both sides of the book, so the fund's calls can be judged against the framework it publishes rather than a black box.

Worth knowing

  1. 01Launched in 2025. There is not yet a long record showing how the generational-cycle framework behaves across different market regimes.
  2. 02Shorting cuts both ways: borrow costs are ongoing, and a short position's losses are not bounded the way a long position's are.
  3. 03Small and lightly traded, so bid-ask spreads can run wider than in the category's household names. The mandate targets capital appreciation, not income.

HEFT Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
34
Top-10 weight
86%
Largest holding
VTI15.1%

Geography

  • United States97.26%
  • Canada1.49%
  • United Kingdom1.24%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001VTIVanguard Morningstar Total Stock Market ETF15.07%31,450$12M15
002—Cash & Other12.00%9,561,392$10M672
003CERYState Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF10.91%217,872$9M7
004DBMFiMGP DBi Managed Futures Strategy ETF10.50%252,420$8M11
005UTWOF/m US Treasury 2 Year Note ETF9.26%155,373$7M1
006—First American Government Obligations Fund 12/01/20318.68%6,919,469$7M529
007XLKState Street Technology Select Sector SPDR ETF7.36%29,495$6M36
008ICSHiShares Ultra Short Duration Bond Active ETF6.44%101,945$5M3
009XLEState Street Energy Select Sector SPDR ETF3.12%38,159$2M31
010CIBRFirst Trust NASDAQ Cybersecurity ETF3.07%22,270$2M4
011GLDSPDR Gold Shares2.51%5,207$2M8
012XOPState Street SPDR S&P Oil & Gas Exploration & Production ETF2.17%9,045$2M2
013MOAltria Group Inc2.00%22,208$2M366
014NOBLProShares S&P 500 Dividend Aristocrats ETF1.99%28,861$2M3
015LVHDFranklin U.S. Low Volatility High Dividend Index ETF1.99%37,694$2M1

Showing 1–15 of 34 holdings

HEFT Performance

Launched Nov 20, 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.Not enough history yet.
HEFT$10,578
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,500
Dec 31, 2025 to Oct 12, 2026. HEFT $10,578. SPY $11,500. Use the arrow keys to read each point.$9,149$10,419$11,689Dec 2025May 2026Oct 2026

Dec 31, 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 HEFT. Periods over one year show the average yearly return.
PeriodHEFT
Year to date+5.8%
1 month+0.9%
3 months+1.9%
1 yearFund is under 1 year old—
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 HEFT
YearReturn barHEFT
2026 YTD+5.8%
2025+1.0%

History from Nov 21, 2025

HEFT in the news

Filtered to HEFT · Tactical Allocation

HEFT Dividends

Last payment
$0.005 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 $0.005. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$0.005

HEFT Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Nov 2025; fills in after 12 months
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.
—
Launched Nov 2025; fills in after 12 months
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.
—
Launched Nov 2025; fills in after 12 months
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.
0.16
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.

HEFT Cost

Expense ratio0.70%
  • The middle half of Tactical Allocation funds
  • Median 0.91%

15 of the 46 Tactical Allocation funds charge less.

HEFT costs $70.00 a year on $10,000. The median Tactical Allocation fund costs $90.50.

Other funds in Tactical Allocation

See others