ZHDG ZEGA Buy and Hedge ETF
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Over the year to Nov 4, 2026, ZHDG returned 6.6%. When the S&P 500 fell, it fell 86% as much.
Promise check: PartlyIn the 52 weeks to Nov 4, 2026, ZHDG moved 85.6% as much as the S&P 500 in the 26 weeks it fell.
ZHDG risk and return scorecard
vs AGG, its stated benchmark (secondary) · Jul 2021 to Oct 2026 · 276 weekly returns · dividend-adjusted
Secondary: AGG tracks the Bloomberg U.S. Aggregate Bond Index, named in its shareholder report. Its own benchmark is its holdings, which have no weekly prices.
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 Method · Data
What you earned
How concentrated, and what does it cost?
More on ZHDG
Every number below is on this page. Open what you need.Price and total return, 1 year
$23.92+1.4%1 day, priceClose, Nov 4, 2026
Total return adds every distribution, reinvested. Computed by ETFIQ from Tiingo daily prices.
Source: Tiingo end-of-day prices. Data as of Nov 4, 2026. Updated every trading night. Report a data error
| Window | Total return | S&P 500 (SPY) |
|---|---|---|
| 1M Oct 5 – Nov 4, 2026 | −0.9% | −1.0% |
| 3M Aug 5 – Nov 4, 2026 | −1.4% | −0.1% |
| 6M May 6 – Nov 4, 2026 | +3.0% | +5.0% |
| YTD Dec 31, 2025 – Nov 4, 2026 | +5.7% | +13.3% |
| 1Y Nov 4, 2025 – Nov 4, 2026 | +6.6% | +14.8% |
| 3Y Nov 3, 2023 – Nov 4, 2026 | +49.1% | +82.9% |
| 5Y Nov 5, 2021 – Nov 4, 2026 | +27.3% | +75.0% |
| Since launch Jul 7, 2021 – Nov 4, 2026 | +33.8% | +89.3% |
| Since launch, annualised Jul 7, 2021 – Nov 4, 2026 | +5.6% | – |
Total returns, distributions reinvested.
Source: Tiingo end-of-day prices, with distributions reinvested.
ZHDG in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ZHDG −0.92%.
How much it diversifies a stock portfolio, ranked against 22 equity hedged alternatives ETFs with a full year. 100 is best. How it is computed
ZHDG’s weekly returns had a correlation of +0.96 with the S&P 500, and in the weeks the index fell its down-week capture was 85.6%. Over the same 52 weeks it finished 2.6 points ahead of T-bills.
ZHDG key stats
Trading
as of Jul 10, 2026
ZHDG for holders outside the US
How much does it diversify a stock portfolio?
29.5% of the 22 sit at or above ZHDG on this measure.
20.5% of the 22 sit at or above ZHDG on this measure.
Weighted evenly, those two positions are what the score combines, across the 22 equity hedged alternatives ETFs with a full year. Neither spread above is the score: a fund can sit further right on one and score lower.
One year of weekly moves against the S&P 500, within one strategy; it ignores what the fund returned. Where the fund sits in this set, not a rating. Do not average it with another category's score.
| What it measures | This fund | Its percentile | Weight |
|---|---|---|---|
| correlation with the S&P 500 | +0.96 | 29.5 | 50% |
| down-week capture against the S&P 500 | 85.6% | 20.5 | 50% |
About ZHDG
12 seats on ZHDG, as of Nov 4, 2026: 1 Supports, 1 Mixed, 2 Challenges, 7 Not enough data, 1 Does not apply.
Questions people ask about ZHDG
- Does ZHDG move with the S&P 500?
- Over the year to Nov 4, 2026, ZHDG’s weekly returns had a correlation of +0.96 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 +0.82, so for each 1% the index moved it moved about 0.82% the same way.
- What did ZHDG do when stocks fell?
- The S&P 500 fell in 26 of the 52 weeks to Nov 4, 2026, by 1.07% on average. In those weeks ZHDG fell 0.92% on average, a down-week capture of 85.6%.
- Did ZHDG earn more than cash?
- Over the same 52 weeks ZHDG returned +6.3% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.7%. ZHDG finished 2.6 percentage points ahead of it.
- What does ZHDG cost?
- The prospectus expense ratio is 0.95% a year.
- Why is ZHDG listed as hedged equity?
- ETFIQ files each fund by what its own prospectus says it does, and ZHDG’s, filed Aug 26, 2026, describes a hedged equity fund.
Links are sources, not endorsements.
Cite this pageCitation, APA and Markdown
ETFIQ, ZHDG, alternatives ETFs, data as of Nov 4, 2026. https://etfiq.com/funds/zhdg
ETFIQ. (Nov 4, 2026). ZHDG, alternatives ETFs. Retrieved from https://etfiq.com/funds/zhdg
[ZHDG, alternatives ETFs (ETFIQ, Nov 4, 2026)](https://etfiq.com/funds/zhdg)
The down-week bars for ZHDG, redrawn every trading night.
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.
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<figure style="margin:0;max-width:640px">
<iframe src="https://etfiq.com/embed/alternatives/zhdg/" title="ZHDG: ZHDG in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ZHDG −0.92%." width="640" height="334" loading="lazy" style="border:0;max-width:100%;width:100%"></iframe>
<figcaption style="font:13px/1.5 sans-serif">ZHDG: ZHDG in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ZHDG −0.92%. Data: <a href="https://etfiq.com/funds/zhdg">ETFIQ</a></figcaption>
</figure>The day's ETF flows, a comparison and one number. Every trading morning. About the Daily
Snapshot, Nov 4, 2026. More on the tabs above.