Skip to content
etf.net

Launched

Hedgeye Fourth Turning ETF

HEFTNYSE ArcaHedgeyeB

$25.78−0.05 (−0.19%)

As of Nov 10, 2026, 10:53 AM ET

B61/ 100

Rank 11 of 46 in Tactical Allocation

B61/100Rank 11 of 46inTactical Allocation
Intraday session: down, 18 prints from 25.83 to 25.78. Range 25.78 to 25.80. Use the arrow keys to read each point.25.7925.8025.8125.8210 AM12 PM2 PM4 PM
Expense ratio
0.70%
Fund size
$75M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
33
Avg volume · 30D
17.9K sh
52W range
low $24.92high $28.84
Launched

The ETF.net HEFT Grade

B

Score 61 out of 100

Category
Tactical Allocation⁠
Rank
11 of 46
Six-pillar profile for HEFT. Scores out of 100: Cost 78, Risk 38, Mission 65, Tradability 55, Holdings 51, Durability 54. Strongest: Cost (78). Weakest: Risk (38). Leans toward Cost.

Score 61 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.
    A78 out of 100
    Rank 11 of 46

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B65 out of 100
    Rank 13 of 27

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D38 out of 100
    Rank 32 of 46

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B55 out of 100
    Rank 18 of 46

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C51 out of 100
    Rank 21 of 43

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C54 out of 100
    Rank 27 of 46

Our read on HEFT

ETF.net Research

In short

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

  • 0.70% 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.
  • The short sleeve is the point. Managers can position against areas they expect to weaken instead of only choosing which longs to own.
  • One 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

  • Launched in 2025. There is not yet a long record showing how the generational-cycle framework behaves across different market regimes.
  • Shorting cuts both ways: borrow costs are ongoing, and a short position's losses are not bounded the way a long position's are.
  • Small 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 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$10,218
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,124
Dec 31, 2025 to Nov 9, 2026. HEFT $10,218. SPY $11,124. Use the arrow keys to read each point.$10,000$11,000Dec 2025Jun 2026Nov 2026

Dec 31, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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+2.2%
1 month−3.4%
3 months−2.2%
1 yearFund is under 1 year oldNo data
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 HEFT
YearReturn barHEFT
2026 YTD+2.2%
2025+1.0%

History from Nov 21, 2025

HEFT in the news

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

Risk pillarD38 out of 100Rank 32 of 46 in Tactical Allocation
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.

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

HEFT Cost

Compare HEFT and ENDW

Overpaying vs ENDW, cheapest in Tactical Allocation

$9,048

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

  • HEFT 0.70%

    $13,606

  • ENDW 0.22% Cheapest

    $4,558

$10,000
30 years

Cost over time

  • HEFT 0.70%
  • ENDW 0.22%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530HEFT $13,606ENDW $4,558

Year by year

YearHEFTENDWOverpaying
10$1,250$401$849
20$4,760$1,561$3,199
30$13,606$4,558$9,048

Other funds in Tactical Allocation

See others