{"url":"https://etfiq.com/compare/alternatives/asgm-vs-hfgm","section":"compare","title":"ASGM vs HFGM: Correlation to the S&P 500 | ETFIQ","description":"ASGM and HFGM both run global macro strategies. Over the year to Nov 4, 2026, ASGM had a correlation of +0.85 with the S&P 500 and HFGM +0.61.","as_of":"Nov 4, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, ASGM or HFGM?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 4, 2026, ASGM\u2019s weekly returns had a correlation of +0.85 with the S&P 500 and HFGM\u2019s +0.61, so HFGM moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, ASGM or HFGM?","acceptedAnswer":{"@type":"Answer","text":"In the 26 weeks the S&P 500 fell, by 1.07% a week on average, ASGM averaged \u22121.25% and HFGM \u22121.87%, so ASGM returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, ASGM or HFGM?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, ASGM finished 18.2 percentage points ahead of cash and HFGM finished 1.4 percentage points behind cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, ASGM or HFGM?","acceptedAnswer":{"@type":"Answer","text":"ASGM charges 0.86% a year and HFGM charges 1.01%, so ASGM is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"ASGM vs HFGM","item":"https://etfiq.com/compare/alternatives/asgm-vs-hfgm"}]},{"@type":"WebPage","name":"ASGM vs HFGM: Correlation to the S&P 500","description":"ASGM and HFGM both run global macro strategies. Over the year to Nov 4, 2026, ASGM had a correlation of +0.85 with the S&P 500 and HFGM +0.61.","url":"https://etfiq.com/compare/alternatives/asgm-vs-hfgm","dateModified":"2026-11-04","abstract":"Over the year to Nov 4, 2026, HFGM moved less with the S&P 500 than ASGM: correlation +0.61 against +0.85.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of ASGM and HFGM","description":"ASGM and HFGM both run global macro strategies. Over the year to Nov 4, 2026, ASGM had a correlation of +0.85 with the S&P 500 and HFGM +0.61.","dateModified":"2026-11-04","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/asgm-vs-hfgm","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6241,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / ASGM vs HFGM \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 4, 2026 .\n\n ASGM vs HFGM: Correlation to the S&P 500\n\n Over the year to Nov 4, 2026, HFGM moved less with the S&P 500 than ASGM: correlation +0.61 against +0.85.\n Copy this for sharing \n \n ASGM costs 0.15 points a year less; their one-year returns differ by 20.4 points.\n ASGM and HFGM at a glance. As of Nov 4, 2026. Source: ETFIQ. ASGM HFGM \n Expense ratio 0.86% 1.01% \n Net assets, ASGM as of Jul 31, 2026 and HFGM as of Aug 31, 2026 $8.5m $151m \n Total return, 1 year +22.8% +2.4% ","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, ASGM against HFGM, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/asgm-vs-hfgm","a":{"ticker":"ASGM","name":"Virtus AlphaSimplex Global Macro ETF","issuer":"Virtus","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, ASGM returned 22.8%. When the S&P 500 fell, it fell 1.2 times as much.","url":"https://etfiq.com/funds/asgm","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.85","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+1.08","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"116.3%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+18.2 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"4.4%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment, ex-date Dec 22, 2025","value":"$1.2031","as_of":"2025-12-22","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$8.5m","as_of":"2026-07-31","source":"SEC N-PORT, whole fund, as filed for Jul 31, 2026"},{"label":"Expense ratio","value":"0.86%","as_of":"2025-06-04","source":"485BPOS XBRL, Jun 4, 2025"}]},"b":{"ticker":"HFGM","name":"Unlimited HFGM Global Macro ETF","issuer":"Unlimited","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, HFGM returned 2.4%. When the S&P 500 fell, it fell 1.7 times as much.","url":"https://etfiq.com/funds/hfgm","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.61","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+1.11","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"174.2%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22121.4 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"10.2%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment, ex-date Dec 24, 2025","value":"$3.2399","as_of":"2025-12-24","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$151m","as_of":"2026-08-31","source":"SEC N-PORT, whole fund, as filed for Aug 31, 2026"},{"label":"Expense ratio","value":"1.01%","as_of":"2025-12-23","source":"485BPOS XBRL, Dec 23, 2025"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/asgm-vs-hfgm"}