# HAWG (HCM Hedged Equity ETF)

not established · Leveraged ETFs · data as of Sep 11, 2026

Since launch to Sep 11, 2026: HAWG returned −0.5% where its own daily promise gave −50.1%, 49.6 points over.

## Key facts

- HAWG, what HAWK did: −28.4%, as of Sep 11, 2026.
- HAWG, what +2 times a day gives: −50.1%, as of Sep 11, 2026.
- HAWG, what the fund returned: −0.5%, as of Sep 11, 2026.
- HAWG, the fund itself added: +49.6 pts, as of Sep 11, 2026.
- HAWG, expense ratio: 1.49% (485BPOS XBRL, Jul 31, 2026).
- HAWG, underlying: HAWK, as of Sep 11, 2026.

## HAWG over each window to Sep 11, 2026

| Window | Fund | HAWK | +2x the move | Difference | HAWK moved about |
| --- | --- | --- | --- | --- | --- |
| Since launch | −0.5% | −28.4% | −56.9% | +56.4 pts | 50% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of HAWK, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +0.02 times, against +2 stated | ETFIQ |
| Underlying | HAWK | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Expense ratio | 1.49% | 485BPOS XBRL, Jul 31, 2026 |
| Launched | Aug 14, 2026 | ETFIQ |
| Underlying volatility over the window | 50% annualized | ETFIQ |

## Questions

### Did HAWG return +2 times HAWK?

Over the window to Sep 11, 2026, HAWK moved −28.4% and HAWG returned −0.5%. 2 times that move is −56.9%, so the fund came out 56.4 points ahead of it.

### Why does HAWG not return +2 times over a year?

Because it resets daily. HAWG aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, HAWG, data as of Sep 11, 2026. https://etfiq.com/funds/HAWG
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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