# HFND (Unlimited HFND Multi-Strategy Return Tracker 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, HFND fell 50% as much as the index.

## Key facts

- HFND, correlation with the S&P 500: +0.78, as of Sep 18, 2026.
- HFND, beta to the S&P 500: +0.48, as of Sep 18, 2026.
- HFND, down-week capture: 50.0%, as of Sep 18, 2026.
- HFND, against T-bills, 52 weeks: +4.1 pts, as of Sep 18, 2026.
- HFND, net assets: $33m (SEC N-PORT, whole fund, as filed for May 31, 2026).
- HFND, expense ratio: 1.07% (485BPOS XBRL, Dec 23, 2025).

## HFND over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | −2.2% | +2.3% | −4.5 pts |
| 6 months | +5.6% | +18.0% | −12.4 pts |
| 1 year | +7.8% | +16.6% | −8.7 pts |
| 3 years | +29.9% | +78.4% | −48.5 pts |
| Since it listed | +33.9% | +124.3% | −90.4 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | Unlimited | ETFIQ |
| Strategy | Multi-strategy | ETFIQ, from its prospectus |
| Expense ratio | 1.07% | 485BPOS XBRL, Dec 23, 2025 |
| Net assets | $33m | 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 |
| HFND in those weeks, on average | −0.62% | ETFIQ |
| HFND total return over those weeks | +7.7% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Oct 11, 2022 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

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

Over the year to Sep 18, 2026, HFND’s weekly returns had a correlation of +0.78 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 +0.48, so for each 1% the index moved it moved about 0.48% the same way.

### What did HFND 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 HFND fell 0.62% on average, a down-week capture of 50.0%.

### Did HFND earn more than cash?

Over the same 52 weeks HFND returned +7.7% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. HFND finished 4.1 percentage points ahead of it.

### What does HFND cost?

The prospectus expense ratio is 1.07% a year.

### Why is HFND listed as multi-strategy?

ETFIQ files each fund by what its own prospectus says it does, and HFND’s, filed Dec 23, 2025, describes a multi-strategy fund.


## Cite this page

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

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