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Launched · SEC filings

Soundwatch Hedged Equity ETF

SHDGCboeC

$33.13−0.12 (−0.35%)

As of Nov 2, 2026, 3:57 PM ET

C40/ 100

Rank 42 of 52 in S&P 500 Option Income

C40/100Rank 42 of 52inS&P 500 Option Income
Intraday session: down, 78 prints from 33.25 to 33.13. Range 33.13 to 33.51. Use the arrow keys to read each point.33.2033.3033.4033.5010 AM12 PM2 PM4 PM
Expense ratio
0.91%*
Fund size
$155M
1Y total return
+3.9%
Yield · Last 12 months
0.48%
Holdings
5
Avg volume · 30D
6.34K sh
52W range
low $30.62high $33.98
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Feb 28, 2027. Without it: 1.01%.

The ETF.net SHDG Grade

C

Score 40 out of 100

Category
S&P 500 Option Income⁠
Rank
42 of 52
Six-pillar profile for SHDG. Scores out of 100: Cost 19, Risk 40, Mission 63, Tradability 45, Holdings 37, Durability 51. Strongest: Mission (63). Weakest: Cost (19). Leans toward Mission.

Score 40 of 100 falls in the C 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.
    F19 out of 100
    Rank 42 of 52

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B63 out of 100
    Rank 31 of 36

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C40 out of 100
    Rank 30 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C45 out of 100
    Rank 31 of 52

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D37 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

In short

CMost 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

  • Growth-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.
  • 0.53% a year undercuts the typical fee among S&P 500 options-and-hedging funds.
  • Familiar ground underneath the hedge: broad US market exposure referenced to the S&P 500, not an exotic basket.
  • Trading since 2022, so there is a live operating record behind the model rather than a backtest.

Worth knowing

  • Thinly traded. Limit orders matter here, and spreads can run wider than the household names in the category.
  • Not an income machine. Distributions land annually or semiannually, not the monthly cadence much of this cohort is built around.
  • A 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 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$10,386
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. SHDG $10,386. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+2.9%
1 month−0.5%
3 months+1.6%
1 year+3.9%
3 yearsper year+14.4%
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 SHDG
YearReturn barSHDG
2026 YTD+2.9%
2025+11.5%
2024+19.7%
2023+17.9%
2022+2.6%

Since listing, Oct 24, 2022

SHDG in the news

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 30, 2026.
0.48%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

$10,000 in SHDG 3 years ago paid $275 in dividends.

SHDG Risk

Risk pillarC40 out of 100Rank 30 of 52 in S&P 500 Option Income
How much the fund’s monthly returns vary, scaled to a year.
9.2%
Annualised · 36 months to Oct 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.
1.04
vs 3-month T-bills · to Oct 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%
48 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.

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

SHDG Cost

Compare SHDG and PEPS

Overpaying vs PEPS, cheapest in S&P 500 Option Income

$15,101

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

  • SHDG 0.91%

    $17,207

  • PEPS 0.10% Cheapest

    $2,106

$10,000
30 years

Cost over time

  • SHDG 0.91%
  • PEPS 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SHDG $17,207PEPS $2,106

Year by year

YearSHDGPEPSOverpaying
10$1,610$183$1,427
20$6,076$717$5,359
30$17,207$2,106$15,101
How the 0.91% is worked out

Full fee 1.01%− waiver 0.10%= you pay 0.91%

The waiver ends Feb 28, 2027. After that the fee is 1.01% unless SoundWatch Capital renews it. Source: prospectus, Feb 2026.

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