# HFEQ (Unlimited HFEQ Equity Long/Short ETF)

Unlimited · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, HFEQ fell 1.4 times as much as the index.

## Key facts

- HFEQ, correlation with the S&P 500: +0.82, as of Sep 18, 2026.
- HFEQ, beta to the S&P 500: +1.32, as of Sep 18, 2026.
- HFEQ, down-week capture: 139.9%, as of Sep 18, 2026.
- HFEQ, against T-bills, 52 weeks: +11.2 pts, as of Sep 18, 2026.
- HFEQ, net assets: $16m (SEC N-PORT, whole fund, as filed for May 31, 2026).
- HFEQ, expense ratio: 0.96% (485BPOS XBRL, Dec 23, 2025).

## HFEQ over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | −4.9% | +2.3% | −7.2 pts |
| 6 months | +13.2% | +18.0% | −4.8 pts |
| 1 year | +14.8% | +16.6% | −1.8 pts |
| Since it listed | +27.8% | +24.1% | +3.7 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | Unlimited | ETFIQ |
| Strategy | Long-short equity | ETFIQ, from its prospectus |
| Expense ratio | 0.96% | 485BPOS XBRL, Dec 23, 2025 |
| Net assets | $16m | SEC N-PORT, whole fund, as filed for May 31, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| HFEQ in those weeks, on average | −1.74% | ETFIQ |
| HFEQ total return over those weeks | +14.8% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Jul 15, 2025 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does HFEQ move with the S&P 500?

Over the year to Sep 18, 2026, HFEQ’s weekly returns had a correlation of +0.82 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was +1.32, so for each 1% the index moved it moved about 1.32% the same way.

### What did HFEQ do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks HFEQ fell 1.74% on average, a down-week capture of 139.9%.

### Did HFEQ earn more than cash?

Over the same 52 weeks HFEQ returned +14.8% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. HFEQ finished 11.2 percentage points ahead of it.

### What does HFEQ cost?

The prospectus expense ratio is 0.96% a year.

### Why is HFEQ listed as long-short equity?

ETFIQ files each fund by what its own prospectus says it does, and HFEQ’s, filed Dec 23, 2025, describes a long-short equity fund.


## Cite this page

ETFIQ, HFEQ, data as of Sep 18, 2026. https://etfiq.com/funds/hfeq
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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