SPDR Galaxy Hedged Digital Asset Ecosystem ETF (HECO) Performance
HECO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +24.2% since Dec 31, 2025
- 1 year
- +9.9% total return
- Since first price
- +102.7% since 2024
HECO trailing returns vs SPY, QQQ, AGG
| Period | HECO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −28.6% | −28.6% | −1.0% | −5.0% | +0.9% |
| 3 months | −28.6% | −28.6% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.7% | −1.7% | +7.8% | +8.4% | −1.5% |
| YTD | +24.2% | +24.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.9% | +9.9% | +14.4% | +15.9% | −1.1% |
| Since inceptionSep 10, 2024 | +102.7% | +95.0% | — | — | — |
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: HECO vs SPY
From Sep 10, 2024: HECO grew to $20,275, SPY to $14,211.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HECO returns by calendar year
1 of 1 full years positive. Best 2025 (+26.2%), worst 2025 (+26.2%). 2026 is year to date.
HECO annual returns table
| Year | HECO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +24.2% | −29.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +26.2% | −42.0% | +17.7% | +20.8% | +7.2% |
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.
HECO largest drawdowns
Now 29.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 16, 2024 | −43.7% | Apr 8, 2025 | Sep 15, 2025 | 4 months | 9 months |
| Sep 22, 2026 | −29.7% | Oct 23, 2026 | not yet | 31 days | 31 days so far |
| Jan 16, 2026 | −21.0% | Mar 30, 2026 | Apr 15, 2026 | 2 months | 3 months |
| Oct 15, 2025 | −19.4% | Nov 21, 2025 | Jan 16, 2026 | 37 days | 3 months |
| Jun 22, 2026 | −17.0% | Jul 29, 2026 | Sep 22, 2026 | 37 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HECO risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +54.0% |
| Volatility (annualized) | 48.9% |
| Sharpe ratio | 1.04 |
| Sortino ratio | 2.12 |
| Best month | +34.7% |
| Worst month | −19.1% |
| Best 12 months | +140.8% |
| Worst 12 months | +20.6% |
| Positive months | 62% |
| 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.
HECO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 14 | +5.8% | +55.6% | +140.8% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
HECO performance overview
SPDR Galaxy Hedged Digital Asset Ecosystem ETF (HECO) returned +9.9% over the past year, with distributions reinvested. Since its first recorded price on Sep 10, 2024 it has returned +102.7%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −43.7%, from Dec 16, 2024 to Apr 8, 2025, and it took 5 months to get back to the old high. Volatility has been 48.9% a year.
Related: HECO chart, HECO holdings. See the HECO overview for the latest quote and fund facts.
HECO performance FAQ
What is the HECO return over the past year?
HECO returned +9.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 9.9%.
How much would $10,000 invested in HECO be worth?
$10,000 invested in HECO at its first recorded close on September 10, 2024 would be worth about $20,275 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of HECO?
The largest peak-to-trough decline was −43.7% between December 16, 2024 and April 8, 2025. It recovered to the old high on September 15, 2025, 5 months after the bottom.
How volatile is HECO?
Over the past history HECO had an annualized volatility of 48.9% and a Sharpe ratio of 1.04 (excess return over 1–3 month T-bills per unit of risk).