DYNF vs HTUS

DYNFAiShares U.S. Equity Factor Rotation Active ETF

HTUSDHull Tactical US ETF

In short

DYNF Most factor funds make you pick a lane: value, momentum, quality. DYNF rotates across five styles instead, letting a factor model decide which one leads, and charges an index-fund-ish 0.26% to do it.

HTUS Most active US equity funds argue about which stocks to own. HTUS argues about whether to own them at all: a quant strategy that shifts between long and short S&P 500 exposure, running live since 2015.

Stated mandate

DYNF The Fund seeks to outperform the U.S. equity market through diversified, tactical exposure to style factors using a factor rotation model.

HTUS The Fund seeks long-term capital appreciation through an actively managed strategy using long and short positions in ETFs and related instruments tied primarily to the S&P 500 Index.

Why people hold it

• DYNF Five style factors in one ticket (value, quality, momentum, growth, low volatility), reweighted by a rotation model rather than locked to a single tilt.
• 0.26% is well under half the median fee in its active US equity peer group, which is unusual pricing for a strategy with a human-supervised model behind it.
• A multi-billion-dollar fund and one of the more actively traded names in its category, so getting in and out rarely becomes the hard part. Pays quarterly.
• Running since 2019 under one of the biggest ETF shops, and it stands among the strongest overall implementations in the active US equity group we track.

• HTUS Not a stock picker. It takes long and short positions in S&P 500 linked ETFs and related instruments, so market exposure moves with the model instead of sitting permanently fully invested.
• Trading real money since 2015, so the model has a live record behind it rather than a backtest.
• The tactical trading happens inside a registered 1940 Act fund, so the shorting sits under regular fund rules rather than in a private vehicle.
• Tight mandate, and it stays inside it: US equities, S&P 500 as the reference point, no drift into other markets or asset classes.

Worth knowing

• DYNF The yardstick isn't the S&P 500: it's a custom blend of 80% MSCI USA and 20% MSCI USA Minimum Volatility, so a low-vol tilt is baked into the benchmark itself.
• Active by design. The factor mix shifts, the book runs to a couple hundred stocks, and a rotation call can leave it out of step with a plain US market index fund.
• Cheap for active, not the cheapest shelf: systematic peers DFAU (0.12%), AVLC (0.15%), DFAC (0.17%) and FELC (0.18%) all undercut it on fee.

• HTUS At 0.96% a year it runs above the typical active US equity fund, and several times the index-plus crowd such as DFAU (0.12%) and FELC (0.18%).
• Small asset base and thin trading, so spreads can widen and sizable orders can move the price.
• You are buying a model, not a basket. Outcomes track the manager's signals and its short side, not simply the index it references.

Full DYNF profile⁠

Full HTUS profile⁠