Hedgeye Capital Allocation ETF (HECA) Performance
HECA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −3.2% since Dec 31, 2025
- 1 year
- −2.6% total return
- Since first price
- +9.2% since 2025
HECA trailing returns vs AGG, TLT, SPY
| Period | HECA total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −2.3% | −2.3% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.6% | −1.6% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.2% | −2.2% | −1.5% | −3.8% | +7.8% |
| YTD | −3.2% | −3.2% | −1.0% | −3.4% | +12.3% |
| 1 year | −2.6% | −4.6% | −1.1% | −6.9% | +14.4% |
| Since inceptionJul 1, 2025 | +9.2% | +7.0% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HECA vs AGG
From Jul 1, 2025: HECA grew to $10,920, AGG to $10,212.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HECA returns by calendar year
2026 is year to date.
HECA annual returns table
| Year | HECA | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −3.2% | −13.3% | −1.0% | −3.4% | +12.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HECA largest drawdowns
Now 13.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 25, 2026 | −13.3% | Oct 22, 2026 | not yet | 8 months | 8 months so far |
| Oct 15, 2025 | −5.0% | Nov 20, 2025 | Jan 6, 2026 | 36 days | 3 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
HECA risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | +8.6% |
| Volatility (annualized) | 12.5% |
| Sharpe ratio | 0.42 |
| Sortino ratio | 0.73 |
| Best month | +7.0% |
| Worst month | −5.3% |
| Best 12 months | +11.4% |
| Worst 12 months | +1.5% |
| Positive months | 50% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HECA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 4 | −4.0% | +5.9% | +11.4% | 75% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
HECA performance overview
Hedgeye Capital Allocation ETF (HECA) returned −2.6% over the past year, with distributions reinvested. Since its first recorded price on Jul 1, 2025 it has returned +9.2%. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −13.3%, from Feb 25, 2026 to Oct 22, 2026; the fund has not yet regained that high. Volatility has been 12.5% a year.
Related: HECA chart, HECA holdings, HECA dividends, HECA bond profile. See the HECA overview for the latest quote and fund facts.
HECA performance FAQ
What is the HECA return over the past year?
HECA returned −2.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.6%.
How much would $10,000 invested in HECA be worth?
$10,000 invested in HECA at its first recorded close on July 1, 2025 would be worth about $10,920 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of HECA?
The largest peak-to-trough decline was −13.3% between February 25, 2026 and October 22, 2026. It has not yet recovered to that high; it is 13.2% below its peak.
How volatile is HECA?
Over the past history HECA had an annualized volatility of 12.5% and a Sharpe ratio of 0.42 (excess return over 1–3 month T-bills per unit of risk).