{"schemaVersion":1,"ticker":"HEGD","asOf":"2026-10-30","desk":"alternatives","cite":{"publisher":"ETFIQ","page":"https://etfiq.com/funds/hegd/","methodology":"https://etfiq.com/methodology/","as_of":"2026-10-30","credit":"Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent","class":"mixed","license":"https://etfiq.com/license/","license_text":"Only the numbers in etfiq_fields are ETFIQ's, free to use with attribution: ETFIQ (etfiq.com). Every other number stays under its owner's terms: issuer_fields as the issuer published them, vendor_fields from an end-of-day data vendor.","fields_note":"Not yet classed field by field: only data ETFIQ computes is covered by its licence.","cite_as":"ETFIQ, Risk and return scorecard, HEGD against its benchmark, data as of 2026-10-30, https://etfiq.com/funds/hegd/"},"benchmark":{"ticker":"VOO","name":"S&P 500 Index","tier":1,"kind":"index","basisOnPage":"total","basisHere":"total"},"kind":"benchmark","a":"HEGD","b":"VOO","window":{"from":"2020-12-31","to":"2026-10-30","firstReturn":"2021-01-08","weeklyReturns":304,"years":5.83,"short":false,"weekEnding":"2026-11-01"},"riskFree":{"rate":0.03384195,"perWeek":0.0006508067,"days":1459,"series":"13-week Treasury bill, coupon equivalent, average of daily yields","source":"U.S. Department of the Treasury, Daily Treasury Bill Rates","url":"https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates"},"measures":{"total":{"a":0.6351654,"b":1.19023891,"edge":"VOO","lead":"VOO"},"annualised":{"a":0.087753,"b":0.14351526,"edge":"VOO","lead":"VOO"},"price":{"a":0.59730047,"b":1.02161832,"edge":"VOO","lead":"VOO"},"volatility":{"a":0.08565519,"b":0.15619219,"edge":"HEGD","lead":"HEGD"},"downsideDeviation":{"a":0.05628269,"b":0.1032892,"edge":"HEGD","lead":"HEGD"},"maxDrawdown":{"a":-0.13771399,"b":-0.23914698,"edge":"HEGD","lead":"HEGD","aPeak":"2021-12-31","aTrough":"2022-09-30","bPeak":"2021-12-31","bTrough":"2022-09-30"},"excess":{"a":0.05399038,"b":0.11258973,"edge":"VOO","lead":"VOO"},"sharpe":{"a":0.63032234,"b":0.72084097,"edge":"VOO","lead":"VOO"},"sortino":{"a":0.95927141,"b":1.09004356,"edge":"VOO","lead":"VOO"},"calmar":{"a":0.63721192,"b":0.60011322,"edge":"HEGD (slight)","lead":"HEGD"}},"relative":{"HEGD":{"on":"VOO","beta":0.51654776,"r2":0.88722187,"alpha":-0.00416759,"alphaT":-0.34799287,"alphaLow":-0.02773474,"alphaHigh":0.01939955,"upsideCapture":0.46575703,"downsideCapture":0.65727836,"treynor":0.10452156,"trackingError":0.08080478,"informationRatio":-0.72519655,"upWeeks":171,"downWeeks":133,"treynorReference":0.11258973,"edges":{"beta":{"edge":"Lower beta","neutral":true},"r2":{"edge":"Good fit","neutral":true},"alpha":{"edge":"Not significant"},"alphaRange":{"edge":"Includes zero"},"upsideCapture":{"edge":"VOO","lead":"VOO"},"downsideCapture":{"edge":"HEGD","lead":"HEGD"},"treynor":{"edge":"VOO (slight)","lead":"VOO"},"informationRatio":{"edge":null,"lead":"VOO","note":"one number for the pair: its sign says which side it favours"},"trackingError":{"edge":null,"neutral":true}}}},"sources":{"HEGD":{"kept":"2026-11-01","distributions":5,"addedFromRecord":[],"notInVendorSeries":[],"vendorAmountDiffers":[],"vendorStepsWithoutDistribution":[],"vendor":{"weeks":304,"beyond":0,"tolerance":0.0005,"worst":0.0,"vendorTotal":0.6351654}},"VOO":{"kept":"2026-11-01","distributions":23,"addedFromRecord":[],"notInVendorSeries":[],"vendorAmountDiffers":[],"vendorStepsWithoutDistribution":[],"issuerCloses":{"compared":11,"agree":11},"vendor":{"weeks":304,"beyond":0,"tolerance":0.0005,"worst":0.0,"vendorTotal":1.19023891}}}}