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Launched · SEC filings

Soundwatch Hedged Equity ETF

SHDGCboeD

$33.95+0.01 (+0.03%)

As of Oct 13, 2026, 3:55 PM

D34/ 100

Rank 48 of 52 in S&P 500 Option Income

D34/100Rank 48 of 52inS&P 500 Option Income
Intraday session: up, 41 prints from 33.94 to 33.95. Range 33.91 to 33.98. Use the arrow keys to read each point.33.9133.9233.9333.9710 AM12 PM2 PM4 PM
Expense ratio
1.01%
Fund size
$159M
1Y total return
+9.2%
Yield · Last 12 months
0.47%
Holdings
5
Avg volume · 30D
0M sh
NAV per share
$33.93
52W range
low $30.62high $33.98
Launched
Filings
SEC EDGAR

The ETF.net SHDG Grade

D

Score 34 out of 100

Category
S&P 500 Option Income⁠
Rank
48 of 52
Six-pillar profile for SHDG. Scores out of 100: Cost 6, Risk 44, Mission 65, Tradability 22, Holdings 38, Durability 51. Strongest: Mission (65). Weakest: Cost (6). Leans toward Mission.

Score 34 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.
    F6 out of 100
    Rank 49 of 52

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B65 out of 100
    Rank 29 of 35

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C44 out of 100
    Rank 33 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F22 out of 100
    Rank 47 of 52

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D38 out of 100
    Rank 33 of 41

  • 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 33 of 52

Our read on SHDG

ETF.net Research

DMost S&P 500 options funds are built to mail you a check. SHDG goes the other way: a systematic hedge wrapped around broad US equity, aimed at long-term growth with a downside cushion, at a fee below the group's norm.

Stated mandate

The Fund seeks long-term capital appreciation. It uses a systematic hedged-equity model with broad-based U.S. market exposure intended to reduce downside risk while retaining long-term equity gains.

Why people hold it

  1. 01Growth-first mandate. The fund targets long-term capital appreciation, using a systematic hedged-equity model to reduce downside risk while keeping long-term equity gains in play.
  2. 020.53% a year undercuts the typical fee among S&P 500 options-and-hedging funds.
  3. 03Familiar ground underneath the hedge: broad US market exposure referenced to the S&P 500, not an exotic basket.
  4. 04Trading since 2022, so there is a live operating record behind the model rather than a backtest.

Worth knowing

  1. 01Thinly traded. Limit orders matter here, and spreads can run wider than the household names in the category.
  2. 02Not an income machine. Distributions land annually or semiannually, not the monthly cadence much of this cohort is built around.
  3. 03A hedge has a price: it damps the drops and clips the sprints. Cheaper S&P 500 peers also exist, including IVVW at 0.25% and PBP at 0.29%.

SHDG Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
5
Top-10 weight
101%
Largest holding
IVV97.4%

Sectors

  • Technology40.1%
  • Financials11.3%
  • Communication9.9%
  • Health Care9.4%
  • Consumer Discretionary8.7%
  • Industrials7.6%
  • Consumer Staples4.4%
  • Energy3.4%
  • Utilities1.9%
  • Real Estate1.7%
  • Materials1.6%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001IVViShares Core S&P 500 ETF97.41%197,682$154M57
002—First American Government Obligations Fund 12/01/20312.42%3,831,481$4M529
003—Spxw Us 12/31/26 P73100.86%204$1M1
004—Cash & Other0.21%335,696$336K672
005—Spxw Us 12/31/26 C75700.15%6$241K1

Showing 1–5 of 5 holdings

SHDG Performance

Launched Oct 24, 2022

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.
SHDG$10,918
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. SHDG $10,918. 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 SHDG. Periods over one year show the average yearly return.
PeriodSHDG
Year to date+5.1%
1 month+1.6%
3 months+2.8%
1 year+9.2%
3 yearsper year+14.2%
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 SHDG
YearReturn barSHDG
2026 YTD+5.1%
2025+11.5%
2024+19.7%
2023+17.9%
2022+2.6%

Since listing, Oct 24, 2022

SHDG in the news

Filtered to SHDG · S&P 500 Option Income

SHDG 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.
0.47%Last 12 months
Payout per share
$0.16Last 12 months
Last payment
$0.16 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2022–2026

One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 28, 2022 $0.19; Dec 21, 2023 $0.30; Dec 27, 2024 $0.18; Dec 29, 2025 $0.16. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Dec 29, 2025Dec 31, 2025$0.16
Dec 27, 2024Dec 30, 2024$0.18
Dec 21, 2023Dec 26, 2023$0.30
Dec 28, 2022Dec 30, 2022$0.19

SHDG Risk

How much the fund’s monthly returns vary, scaled to a year.
9.3%
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.
0.99
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.
−15.8%
47 months · trough Apr 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.
0.71
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.

SHDG Cost

Expense ratio1.01%
  • The middle half of S&P 500 Option Income funds
  • Median 0.60%

47 of the 51 S&P 500 Option Income funds charge less.

SHDG costs $101.00 a year on $10,000. The median S&P 500 Option Income fund costs $60.00.

Other funds in S&P 500 Option Income

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