HNDL vs INKM: Grades, Fees and Holdings Compared

Strategy Shares Nasdaq 7HANDL Index ETF

HNDLBNasdaq

State Street Income Allocation ETF

INKMANYSE Arca

Overlap

0.0%by weight

Expense ratio

INKM −0.44pt a year

HNDL0.94%INKM0.50%

Avg volume · 30D

HNDL 7.0×the volume

HNDL93.1KINKM13.3K

5Y return · a year

HNDL +0.1pt

HNDL+3.9%INKM+3.8%

HNDL vs INKM Performance

Oct 29, 2021 – Oct 30, 2026

+21.4%HNDL+20.8%INKM

Expense ratio: HNDL 0.94%; INKM 0.50%, better
Fund size: HNDL $638M; INKM $70M
1Y total return: HNDL +6.4%; INKM +7.6%, better
Yield (12M): HNDL 7.12%, better; INKM 4.69%
Holdings: HNDL 24; INKM 18
Avg volume (30D): HNDL 93.1K sh, better; INKM 13.3K sh
NAV per share: HNDL $22.16; INKM $34.00
52W range

ETF.net Grade

Pillar letters and Scores for HNDL, INKM, with each pillar’s weight
Pillar	HNDL	INKM
Cost30% weight	C43	A79Higher
Mission25% weight	A75Higher	A71
Risk15% weight	C44	A75Higher
Tradability15% weight	B67	A76Higher
Holdings10% weight	C53Higher	C47
Durability5% weight	A71Higher	A70

Rank among Multi-Asset Income funds

How we build Categories ›

Same Category. HNDL and INKM are both graded against the same 15 Multi-Asset Income funds, so their Grades compare head to head.

Multi-Asset Income⁠

Category · 15 funds

See all 15 ›

INKM ranks 3rd and HNDL 6th of 15 funds in the Multi-Asset Income Category.

Rank 1AINCMFranklin Income Focus ETFScore 82
Rank 2AIYLDiShares Morningstar Multi-Asset Income ETFScore 79
Rank 3AINKMState Street Income Allocation ETFScore 72
Rank 4BMDIVMulti-Asset Diversified Income Index FundScore 66
Rank 5BALTYGlobal X Alternative Income ETFScore 57
Rank 6BHNDLStrategy Shares Nasdaq 7HANDL Index ETFScore 56
Rank 7BLOTILiberty One Tactical Income ETFScore 55

Our read on each fund

ETF.net Research

HNDLBStrategy Shares Nasdaq 7HANDL Index ETF

INKMAState Street Income Allocation ETF

In short

HNDL An income fund built backwards: rather than hunt high yielders, HNDL holds a basket of ETFs, adds 23% index leverage, and targets a 7% annual payout of NAV, paid monthly. Some of that cash can be return of capital, per the prospectus.

INKM One ticker, one active manager, and a shopping list that runs from bonds and preferreds to convertibles, global REITs and dividend stocks. INKM has been playing multi-asset income this way since 2012, at half a point of fee.

Stated mandate

HNDL The Fund seeks to track, before fees and expenses, the price and yield performance of the NASDAQ 7 HANDLTM Index.

INKM The fund seeks total return by investing primarily in income- and yield-generating assets. It is actively managed and uses tactical allocations across bonds, convertible and preferred securities, global REITs, and domestic and international dividend-focused equities.

Why people hold it

HNDL The payout is engineered, not scraped off the highest yielders: the index targets a total return able to support a 7% annual distribution rate on NAV, paid in monthly installments.sec.gov
One ticker, two engines: a fund of roughly 19 ETFs, half a core of U.S. aggregate bonds and equities, half a Dorsey Wright Explore sleeve rotating across 12 asset categories.sec.gov
Leverage is modest and spelled out: the index applies leverage equal to 23% of the total portfolio through a total return swap, not a daily-reset 2x or 3x structure.sec.gov
A 2018 original in a crowded payout-target field, with the index rules and the monthly cadence unchanged since launch.sec.gov

INKM Charges 0.50% a year, under the 0.78% median for allocation funds.
Actively managed with tactical shifts across bonds, convertibles, preferreds, global REITs and dividend equities, rather than fixed index weights.ssga.com
Launched in 2012 and pays quarterly, a long run for a one-ticket income allocation fund.
Lands in the upper half of its allocation peer group on our review.

Worth knowing

HNDL At 0.94% with no fee waiver, HNDL sits above the category median on cost; index-built peers IYLD and INKM each run 0.50%.
Paying a target 7% of NAV regardless of what markets deliver means weak stretches can be funded partly from capital. Holding NAV steady over time is the index's goal, not an assurance.sec.gov
The swap sleeve cuts both ways: borrowing costs and counterparty exposure ride along, and the 23% leverage magnifies declines as well as gains.sec.gov

INKM Thinly traded with a modest asset base, so spreads and order handling matter more here than with the category's giants.
Index-based allocation rivals cost far less: AOA at 0.19% and IRTR at 0.08%.
No published index to check it against. What you own depends on the manager's asset-mix calls.

Full HNDL profile⁠

Full INKM profile⁠

HNDL vs INKM Holdings

How HNDL and INKM differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of HNDL and 0.0% of INKM.

Level by level

Holdings0 in both0.0%
Sector11 Sectors82.2%
Countryby domicile87.5%

Sector

Sector weights in HNDL and INKM, widest gap first
Sector	More in HNDLMore in INKM	HNDL	INKM
Technology	HNDL +11.5 points	25.5%	14.0%
Industrials	INKM +9.5 points	5.3%	14.8%
Energy	HNDL +6.2 points	16.3%	10.1%
Consumer Staples	INKM +3.7 points	4.0%	7.7%
Financials	INKM +1.9 points	6.9%	8.8%
Real Estate	INKM +1.4 points	10.5%	11.9%
Health Care	INKM +0.4 points	6.5%	6.9%
Materials	INKM +0.3 points	1.1%	1.4%
Consumer Discretionary	INKM +0.2 points	5.4%	5.6%
Communication	INKM +0.2 points	5.5%	5.7%
Utilities	INKM +0.3 points	12.9%	13.2%

Country, concentration and asset class

Country by domicile

Country weights in HNDL and INKM, widest gap first
Country	More in HNDLMore in INKM	HNDL	INKM
United States	HNDL +11.3 points	95.4%	84.1%
Japan	INKM +1.6 points	0.2%	1.8%
Mexico	INKM +1.2 points	0.1%	1.3%
China	INKM +1.1 points	0.0%	1.1%
Australia	INKM +1.1 points	0.1%	1.2%
Switzerland	INKM +1.0 points	0.1%	1.1%
Canada	HNDL +1.0 points	2.4%	1.4%
Uruguay	INKM +0.8 points	0.1%	0.9%
Other countries (30)	INKM +5.4 points	1.7%	7.1%

Concentration

Weight in the 10 largest Holdings

HNDL100.6%
INKM82.6%

Securities held

HNDL22
INKM16

Asset class

HNDL: Multi-Asset
INKM: Multi-Asset

Holdings

Only in HNDL22
In both0
Only in INKM16

Only in HNDL

22 securities, 100% of HNDL by weight

Recv Hndl Trs N7HNDLT Eq31.95%
Vanguard Total Bond Marke11.55%
Schwab U.s. Aggregate Bon11.54%
Ishares Core U.s. Aggrega11.53%
Global X Mlp & Energy Inf8.19%
Wisdomtree Us Efficient C6.88%
Invesco Nasdaq 100 Etf6.70%
Vanguard Dividend Appreci6.51%
JPMorgan Equity Premium I5.71%
Schwab U.s. Reit Etf5.20%
State Street Utilities4.79%
Global X Us Preferred Etf3.60%
Vanguard Intermediate-Ter3.14%
Dimensional Core Fixed In2.52%
Spdr Series Trust Portfol2.38%
Vanguard S&P 500 Etf2.20%
Ishares Core S&P 500 Etf2.06%
Invesco Taxable Municipal1.90%
Schwab High Yield Bond Et1.24%
Us T-Bill Dn 9/2/20270.70%
Us T-Bill Dn 1/21/20270.70%
Vanguard Mortgage-Backed0.62%

Only in INKM

16 securities, 99.6% of INKM by weight

State Street Spdr Portfolio Lo16.14%
State Street Spdr S+p Global I10.78%
State Street Us Equity Premium9.58%
State Street Spdr Bloomberg Em8.87%
Schwab Us Dividend Equity Etf7.40%
State Street Spdr Portfolio S+7.34%
State Street Spdr Bloomberg Hi5.83%
State Street Spdr Ice Preferre5.80%
State Street Blackstone Senior5.79%
State Street Spdr S+p Internat5.05%
State Street Spdr Bloomberg Em4.85%
State Street Spdr Bloomberg Co3.70%
State Street Spdr Dow Jones Re2.51%
State Street Spdr Portfolio In2.49%
State Street Spdr Portfolio Lo2.01%
State Street Spdr Portfolio In1.49%

Weight gaps

HNDL and INKM share no securities.

All 20 HNDL holdings⁠All 16 INKM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

HNDL vs INKM Cost

Overpaying HNDL vs INKM

$7,725

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

HNDL 0.94%
$17,704
INKM 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

HNDL 0.94%
INKM 0.50%
Overpaying

Year by year

Year	HNDL	INKM	Overpaying
10	$1,661	$900	$761
20	$6,260	$3,460	$2,800
30	$17,704	$9,979	$7,725

Expense ratio

0.94%HNDL
0.50%INKM, cheaper

INKM0.50%HNDL0.94%

0.15%1.37%

Middle half of Multi-Asset Income funds
Median 0.71%

INKM 3rd cheapest of 15 funds

HNDL 9th cheapest of 15 funds

HNDL vs INKM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): HNDL 7.12%, better; INKM 4.69%
Payout (12M): HNDL $1.57; INKM $1.59
Last payment: HNDL $0.13; INKM $0.34
Ex-dividend: HNDL Oct 13, 2026; INKM Sep 25, 2026
Paid on: HNDL Oct 14, 2026; INKM Sep 29, 2026
Frequency: HNDL Monthly; INKM Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

HNDLMonthly · 46 paymentsAll HNDL payments⁠

INKMQuarterly · 15 paymentsAll INKM payments⁠

HNDL vs INKM Risk

Fall from peak · 5 years

HNDL
INKM

Risk facts

VolatilityStd dev, 3 years: HNDL 9.7%INKM 7.8%, better
Return per unit of riskSharpe ratio, 3 years: HNDL 0.93, betterINKM 0.92
Worst fallMax drawdown, 5 years: HNDL −23.7%INKM −19.2%, better
Market sensitivityBeta, 5 years: HNDL 1.01INKM 0.82; Market = 1

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