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HELS

GradeDNew York Stock Exchange Arca

Hedgeye 130/30 Equity ETF

Active Equity · Hedgeye · Inception 2025-12-10

$23.84+0.00 (+0.07%)

As of Sep 23, 2026, 1:33 PM EDT

History starts Dec 11, 2025.History starts Dec 11, 2025.
Intraday session: flat, 12 prints from 23.84 to 23.84. Range 23.59 to 23.92. Use the arrow keys to read each point.$23.60$23.70$23.80$23.9010 AM12 PM2 PM4 PM
Expense ratio
0.70%
Fund size
$18M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$23.84
52W range
low $22.40high $26.41

The ETF.net HELS Grade

D

40/ 100

Rank 78 of 127 in US Active Equity⁠

Confidence Medium

Six-pillar profile for HELS. Scores out of 100: Cost 48, Risk 19, Mission not scored, Tradability 42, Holdings 49, Durability 38. Strongest: Holdings (49). Weakest: Risk (19). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the D 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.
    CScore 48
    Category rank66/127 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 19
    Category rank116/126 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 42
    Category rank80/127 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 49
    Category rank80/124 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 38
    Category rank101/127 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on HELS

ETF.net Research

DA hedge fund tactic in a plain ETF shell. HELS runs an actively managed 130/30 book, roughly 130% long funded partly by a 30% short sleeve, aiming at long-term capital appreciation in US stocks. Rare structure, ordinary wrapper.

Stated mandate

The Fund seeks long-term capital appreciation through an actively managed 130/30 long-short equity strategy.

Why people hold it

  1. 01Shorting is the whole point. Rather than simply owning less of a name it dislikes, the fund can bet against it: about 130% long against 30% short, per its stated strategy.
  2. 02Hedge fund mechanics, mutual fund plumbing. It is a 1940 Act ETF, which means daily liquidity and 1099 tax reporting rather than lockups and K-1s.
  3. 03The 0.70% expense ratio lands near the 0.65% median for actively managed US equity funds, which is restrained for a strategy that carries a short book alongside the longs.

Worth knowing

  1. 01Cheap core rivals set the bar: DFAU charges 0.12%, AVLC 0.15%. The gap to 0.70% is what the long-short process has to justify.
  2. 02Launched in December 2025, so the record is thin and there is little history showing how the short sleeve behaves through a real drawdown.
  3. 03A small fund that trades lightly, so bid-ask spreads can run wider than on the mega-sized core products in the same aisle.

HELS Holdings

As of Sep 20, 2026, 9:16 AM
Asset class
Stocks
Holdings
—
Top-10 weight
52%
Largest holding
First American Government Obligations Fund 12/01/203115.6%

Geography

  • United States86.81%
  • Switzerland5.36%
  • Greece2.31%
  • Canada2.05%
  • Brazil2.05%
  • Australia1.41%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—First American Government Obligations Fund 12/01/203115.65%2,853,880$3M625
002—Cash & Other12.21%2,227,280$2M674
003AAPLApple Inc4.29%2,326$782K707
004NVDANVIDIA Corp3.95%3,244$721K828
005MSFTMicrosoft Corp3.00%1,107$547K792
006XOMExxonMobil Holdings Corp2.99%3,337$546K501
007PMPhilip Morris International Inc2.97%2,868$541K412
008METAMeta Platforms Inc2.49%682$454K683
009RSGRepublic Services Inc2.47%2,068$451K304
010DELLDell Technologies Inc2.34%751$427K427
011PFEPfizer Inc2.26%14,883$412K374
012MPCMarathon Petroleum Corp2.20%945$402K391
013TWLOTwilio Inc2.19%1,640$400K271
014SJMJ M Smucker Co/The2.11%3,135$385K234
015SNOWSnowflake Inc2.06%1,130$376K321

Showing 1–15 of 46 holdings

HELS Performance

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

HELS$9,721
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. HELS $9,721. SPY $11,430. Use the arrow keys to read each point.$9,042$10,345$11,648Dec 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 HELS. Periods over one year show the average yearly return.
PeriodHELS
Year to date−2.8%
1 month−1.4%
3 months−2.7%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—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 HELS
YearReturn barHELS
2026 YTD−2.8%
2025−2.8%

History from Dec 11, 2025

HELS in the news

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

HELS 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
$0.0046 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 $0.0046. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$0.0046

HELS Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 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 Dec 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 Dec 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.
0.35
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.

HELS Cost

Expense ratio0.70%
  • The middle half of US Active Equity funds
  • Median 0.70%

61 of the 124 US Active Equity funds charge less.

HELS costs $70.00 a year on $10,000. The median US Active Equity fund costs $70.00.