# HFGM (Unlimited HFGM Global Macro 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, HFGM fell 74% as much as the index.

## Key facts

- HFGM, correlation with the S&P 500: +0.57, as of Sep 18, 2026.
- HFGM, beta to the S&P 500: +0.89, as of Sep 18, 2026.
- HFGM, down-week capture: 73.9%, as of Sep 18, 2026.
- HFGM, against T-bills, 52 weeks: +9.1 pts, as of Sep 18, 2026.
- HFGM, net assets: $155m (SEC N-PORT, whole fund, as filed for May 31, 2026).
- HFGM, expense ratio: 1.01% (485BPOS XBRL, Dec 23, 2025).

## HFGM over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +0.9% | +2.3% | −1.3 pts |
| 6 months | +1.3% | +18.0% | −16.7 pts |
| 1 year | +12.8% | +16.6% | −3.8 pts |
| Since it listed | +40.4% | +44.0% | −3.6 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | Unlimited | ETFIQ |
| Strategy | Global macro | ETFIQ, from its prospectus |
| Expense ratio | 1.01% | 485BPOS XBRL, Dec 23, 2025 |
| Net assets | $155m | 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 |
| HFGM in those weeks, on average | −0.92% | ETFIQ |
| HFGM total return over those weeks | +12.7% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Apr 15, 2025 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

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

Over the year to Sep 18, 2026, HFGM’s weekly returns had a correlation of +0.57 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 +0.89, so for each 1% the index moved it moved about 0.89% the same way.

### What did HFGM 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 HFGM fell 0.92% on average, a down-week capture of 73.9%.

### Did HFGM earn more than cash?

Over the same 52 weeks HFGM returned +12.7% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. HFGM finished 9.1 percentage points ahead of it.

### What does HFGM cost?

The prospectus expense ratio is 1.01% a year.

### Why is HFGM listed as global macro?

ETFIQ files each fund by what its own prospectus says it does, and HFGM’s, filed Dec 23, 2025, describes a global macro fund.


## Cite this page

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

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