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HF

GradeDNew York Stock Exchange

DGA Core Plus Absolute Return ETF

Multi-Asset & Alternatives · Days Advisors · Inception 2018-11-26 · SEC filings

$22.62+0.00 (+0.00%)

As of Sep 22, 2026, 9:46 AM EDT

Market opens at 9:30 AM ET.History starts Aug 3, 2023.
Intraday session: down, 12 prints from 22.73 to 22.62. Range 22.62 to 22.73. Use the arrow keys to read each point.$22.65$22.68$22.70$22.73Sep 16Sep 17Sep 18Sep 21Sep 22
Expense ratio
1.85%
Fund size
$21M
1Y return
+8.7%
Yield · Last 12 months
0.88%
Holdings
36
Volume · 30D
0M sh
NAV per share
$22.61
52W range
low $20.89high $22.86

The ETF.net HF Grade

D

25/ 100

Rank 44 of 46 in Tactical Allocation⁠

Confidence Medium

Six-pillar profile for HF. Scores out of 100: Cost 2, Risk 70, Mission not scored, Tradability 8, Holdings 41, Durability 51. Strongest: Risk (70). Weakest: Cost (2). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 25 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.
    FScore 2
    Category rank45/46 · bottom quartile

  • 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.
    AScore 70
    Category rank6/46 · top 13%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 8
    Category rank41/46 · bottom quartile

  • Holdings

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

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 51
    Category rank31/46 · mid-pack

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

Our read on HF

ETF.net Research

DHedge-fund plumbing in an ETF wrapper: an actively managed, roughly 40-position multi-asset portfolio built for capital appreciation with capital preservation written in as the secondary objective. Boutique size, boutique price.

Stated mandate

The Fund seeks long-term capital appreciation, with capital preservation as a secondary objective.

Why people hold it

  1. 01The prospectus puts the defensive half in writing: long-term capital appreciation first, capital preservation second. That is a stated objective, not a marketing line.
  2. 02A 1940 Act ETF, so a hedge-fund-style mandate arrives with daily liquidity and standard ETF reporting instead of lockups and accredited-investor gates.
  3. 03Concentrated by design at roughly 40 positions spanning asset classes: one ticker in place of a do-it-yourself stack of equity, bond and commodity sleeves.
  4. 04Running since 2018, so it carries a track record across several different market moods, which most tactical newcomers cannot show.

Worth knowing

  1. 01Cost is the sticking point. At 1.85% a year it runs about double the typical tactical multi-asset fund, and cheaper peers like ENDW (0.22%) and ONOF (0.39%) work the same territory.
  2. 02Small and thinly traded, so spreads can be wide and a sizable order can move the price. Execution matters more here than with a mainstream fund.
  3. 03No published benchmark index to measure the absolute-return goal against, and payouts come once or twice a year, so this is a total-return vehicle rather than an income stream.

HF Holdings

As of Sep 22, 2026, 2:37 PM
Asset class
Stocks
Holdings
36
Top-10 weight
82%
Largest holding
SH36.8%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001SHPROSHARES SHORT S&P50036.79%237,014$8M1
002SPDNDirexion Daily S&P 500 Bear 1X ETF12.34%305,035$3M2
003VOOVanguard S&P 500 ETF6.79%1,975$1M57
004SPYState Street SPDR S&P 500 ETF Trust6.78%1,816$1M38
005IVViShares Core S&P 500 ETF6.77%1,807$1M54
006PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF2.63%28,060$545K7
007VUGVanguard Morningstar Growth ETF2.62%5,962$543K16
008BCIabrdn Bloomberg All Commodity Strategy K-1 Free ETF2.61%20,572$541K5
009SPYGState Street SPDR Portfolio S&P 500 Growth ETF2.60%4,342$539K10
010ACWIiShares MSCI ACWI ETF2.54%3,252$526K3
011SCHBSchwab US Broad Market ETF2.54%17,617$526K3
012VTIVanguard Morningstar Total Stock Market ETF2.53%1,379$526K15
013VTVanguard Total World Stock ETF2.52%3,253$523K5
014SPYVState Street SPDR Portfolio S&P 500 Value ETF2.47%8,192$512K6
015VTVVanguard Morningstar Value ETF2.47%2,303$511K19

Showing 1–15 of 19 holdings

HF Performance

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

HF$10,872
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. HF $10,872. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 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 HF. Periods over one year show the average yearly return.
PeriodHF
Year to date+7.3%
1 month−0.1%
3 months+1.9%
1 year+8.7%
3 years+10.2%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 HF
YearReturn barHF
2026 YTD+7.3%
2025+4.4%
2024+9.5%
2023+5.9%

History from Aug 3, 2023

HF in the news

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

HF 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.
0.88%Last 12 months
Payout per share
$0.20Last 12 months
Last payment
$0.20 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 26, 2023 $0.51; Dec 23, 2024 $2.28; Dec 29, 2025 $0.20. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 29, 2025Dec 30, 2025$0.20
Dec 23, 2024Data unavailable$2.28
Dec 26, 2023Dec 29, 2023$0.51

HF Risk

How much the fund’s monthly returns vary, scaled to a year.
6.1%
Annualised · 36 months to Aug 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.
0.79
vs 3-month T-bills · to Aug 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.
−6.0%
37 months · trough Mar 2025
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.
0.42
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.

HF Cost

Expense ratio1.85%
  • The middle half of Tactical Allocation funds
  • Median 0.91%

44 of the 46 Tactical Allocation funds charge less.

HF costs $185.00 a year on $10,000. The median Tactical Allocation fund costs $90.50.