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Launched · SEC filings

DGA Core Plus Absolute Return ETF

HFNYSED

$22.65+0.03 (+0.13%)

As of Oct 13, 2026, 3:42 PM

D29/ 100

Rank 40 of 46 in Tactical Allocation

D29/100Rank 40 of 46inTactical Allocation
Intraday session: up, 2 prints from 22.62 to 22.65. Range 22.62 to 22.65. Use the arrow keys to read each point.22.6322.6322.6422.6422.6410 AM12 PM2 PM4 PM
Expense ratio
1.85%
Fund size
$21M
1Y total return
+8.6%
Yield · Last 12 months
0.88%
Holdings
18
Avg volume · 30D
0M sh
NAV per share
$22.61
52W range
low $20.89high $22.86
Launched
Filings
SEC EDGAR

The ETF.net HF Grade

Based on 5 of 6 pillars

D

Score 29 out of 100

Category
Tactical Allocation⁠
Rank
40 of 46
Six-pillar profile for HF. Scores out of 100: Cost 2, Risk 71, Mission not scored, Tradability 29, Holdings 42, Durability 51. Strongest: Risk (71). Weakest: Cost (2). Based on 5 of 6 pillars.

Score 29 of 100 falls in the D 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.
    F2 out of 100
    Rank 45 of 46

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A71 out of 100
    Rank 6 of 46

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D29 out of 100
    Rank 37 of 46

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C42 out of 100
    Rank 30 of 43

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C51 out of 100
    Rank 30 of 46

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 Oct 13, 2026
Asset class
Stocks
Holdings
18
Top-10 weight
121%
Largest holding
First American Government Obligations Fund 12/01/203149.3%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—First American Government Obligations Fund 12/01/203149.32%10,221,915$10M529
002GBILGoldman Sachs Access Treasury 0-1 Year ETF14.95%31,009$3M2
003SDSProShares UltraShort S&P50014.89%58,795$3M1
004SPYState Street SPDR S&P 500 ETF Trust9.32%2,482$2M42
005IVViShares Core S&P 500 ETF9.32%2,471$2M57
006VOOVanguard S&P 500 ETF9.32%2,700$2M60
007SCHBSchwab US Broad Market ETF3.50%24,251$725K3
008SPYVState Street SPDR Portfolio S&P 500 Value ETF3.50%11,622$725K7
009VTVanguard Total World Stock ETF3.50%4,537$725K4
010VTVVanguard Morningstar Value ETF3.50%3,287$725K15
011SPYGState Street SPDR Portfolio S&P 500 Growth ETF3.50%5,766$725K10
012ACWIiShares MSCI ACWI ETF3.50%4,506$725K4
013VTIVanguard Morningstar Total Stock Market ETF3.50%1,898$725K15
014VUGVanguard Morningstar Growth ETF3.50%7,882$725K15
015SPYDState Street SPDR Portfolio S&P 500 High Dividend ETF3.50%15,831$725K3

Showing 1–15 of 18 holdings

HF Performance

Launched Nov 26, 2018

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.
HF$10,862
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. HF $10,862. SPY $12,044. Use the arrow keys to read each point.$9,582$10,912$12,243Oct 2025Apr 2026Oct 2026

Oct 10, 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 HF. Periods over one year show the average yearly return.
PeriodHF
Year to date+7.3%
1 month−0.3%
3 months+1.0%
1 year+8.6%
3 yearsper year+9.8%
5 yearsHistory unavailableper 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 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

Filtered to HF · Tactical Allocation

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 Oct 12, 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.
6.0%
Annualised · 36 months to Sep 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.
0.87
vs 3-month T-bills · to Sep 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%
38 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.

Other funds in Tactical Allocation

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