Data as of .
ASGM vs HFGM: which moved less with stocks?
Over the year to Sep 18, 2026, HFGM moved less with the S&P 500 than ASGM: correlation +0.57 against +0.81.
ETFIQ Diversifier Score: HFGM scores higher
How much does it diversify a stock portfolio?
A percentile among the 63 alternatives ETFs with a full year. It is a position in a set, not a rating, and neither end of it is a recommendation. All alternatives ETFs ranked by it · How it is computed
One strategy, two funds
ASGM and HFGM both run a global macro strategy. Over the same 52 weeks to Sep 18, 2026, ASGM’s weekly returns had a correlation of +0.81 with the S&P 500 and HFGM’s +0.57. In the 22 weeks the index fell, by 1.24% a week on average, ASGM averaged −0.80% and HFGM −0.92%. Over the same weeks, ASGM finished 24.6 percentage points ahead of cash and HFGM finished 9.1 points ahead of cash.
Performance, window by window
| Window | Total return | vs the S&P 500 | ||
|---|---|---|---|---|
| ASGM | HFGM | ASGM | HFGM | |
| 3 months | +1.1% | +0.9% | −1.1 pts | −1.3 pts |
| 6 months | +17.7% | +1.3% | −0.4 pts | −16.7 pts |
| 1 year | +28.4% | +12.8% | +11.8 pts | −3.8 pts |
| Since launch | +36.9% | +40.4% | +13.9 pts | −3.6 pts |
| ASGM Virtus AlphaSimplex Global Macro ETF Global macro fund: takes positions across countries, currencies, interest rates and commodities on a view of the economy | HFGM Unlimited HFGM Global Macro ETF Global macro fund: takes positions across countries, currencies, interest rates and commodities on a view of the economy | |
|---|---|---|
| Issuer | Virtus | Unlimited |
| Strategy | Global macro | Global macro |
| Correlation with the S&P 500 | +0.81 | +0.57 |
| Beta to the S&P 500 | +0.86 | +0.89 |
| Down-week capture | 64.2% | 73.9% |
| Average week when the S&P 500 fell | −0.80% | −0.92% |
| The S&P 500 in those weeks | −1.24% | −1.24% |
| Total return, same 52 weeks | +28.3% | +12.7% |
| Against T-bills, percentage points | +24.6 pts | +9.1 pts |
| Expense ratio | 0.86% | 1.01% |
| Listed | Aug 5, 2025 | Apr 15, 2025 |
| Net assets | $8m | $155m |
ASGM in plain words
ASGM is a global macro fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.81 with the S&P 500’s and a beta of +0.86, so for each 1% the index moved it moved about 0.86% the same way. The S&P 500 fell in 22 of those 52 weeks, by 1.24% on average. In the same weeks ASGM fell 0.80% on average, a down-week capture of 64.2%. Over the same 52 weeks ASGM returned +28.3% and a Treasury bill fund +3.6%, so it finished 24.6 percentage points ahead of cash.
HFGM in plain words
HFGM is a global macro fund. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.57 with the S&P 500’s and a beta of +0.89, so for each 1% the index moved it moved about 0.89% the same way. In the same weeks HFGM fell 0.92% on average, a down-week capture of 73.9%. Over the same 52 weeks HFGM returned +12.7% and a Treasury bill fund +3.6%, so it finished 9.1 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, ASGM or HFGM?
- Over the 52 weeks to Sep 18, 2026, ASGM’s weekly returns had a correlation of +0.81 with the S&P 500 and HFGM’s +0.57, so HFGM moved less with the index.
- Which did better when the S&P 500 fell, ASGM or HFGM?
- In the 22 weeks the S&P 500 fell, by 1.24% a week on average, ASGM averaged −0.80% and HFGM −0.92%, so ASGM returned more in those weeks.
- Which earned more than cash, ASGM or HFGM?
- Over the same weeks, ASGM finished 24.6 percentage points ahead of cash and HFGM finished 9.1 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
- Which is cheaper, ASGM or HFGM?
- ASGM charges 0.86% a year and HFGM charges 1.01%, so ASGM is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, ASGM against HFGM, data as of Sep 18, 2026. https://etfiq.com/compare/alternatives/asgm-vs-hfgm Free to use with attribution; the underlying files are at Open data.