Unlimited HFEQ Equity Long/Short ETF (HFEQ) Performance
HFEQ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.5% since Dec 31, 2025
- 1 year
- +9.1% total return
- Since first price
- +24.6% since 2025
HFEQ trailing returns vs SPY, QQQ, AGG
| Period | HFEQ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.0% | −3.0% | −1.0% | −5.0% | +0.9% |
| 3 months | −4.1% | −4.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.4% | +0.4% | +7.8% | +8.4% | −1.5% |
| YTD | +8.5% | +8.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.1% | −1.2% | +14.4% | +15.9% | −1.1% |
| Since inceptionJul 15, 2025 | +24.6% | +12.9% | — | — | — |
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: HFEQ vs SPY
From Jul 15, 2025: HFEQ grew to $12,464, SPY to $12,381.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HFEQ returns by calendar year
2026 is year to date.
HFEQ annual returns table
| Year | HFEQ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.5% | −12.5% | +12.3% | +15.1% | −1.0% |
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.
HFEQ largest drawdowns
Now 9.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 25, 2026 | −12.5% | Mar 30, 2026 | May 6, 2026 | 33 days | 2 months |
| Oct 27, 2025 | −10.7% | Nov 20, 2025 | Jan 5, 2026 | 24 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HFEQ risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | +21.3% |
| Volatility (annualized) | 16.8% |
| Sharpe ratio | 1.02 |
| Sortino ratio | 1.68 |
| Best month | +8.2% |
| Worst month | −8.5% |
| Best 12 months | +29.2% |
| Worst 12 months | +13.3% |
| Positive months | 71% |
| 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.
HFEQ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 4 | +6.8% | +20.7% | +29.2% | 100% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
HFEQ performance overview
Unlimited HFEQ Equity Long/Short ETF (HFEQ) returned +9.1% over the past year, with distributions reinvested. Since its first recorded price on Jul 15, 2025 it has returned +24.6%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −12.5%, from Feb 25, 2026 to Mar 30, 2026, and it took 37 days to get back to the old high. Volatility has been 16.8% a year.
Related: HFEQ chart, HFEQ holdings, HFEQ dividends. See the HFEQ overview for the latest quote and fund facts.
HFEQ performance FAQ
What is the HFEQ return over the past year?
HFEQ returned +9.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 1.2%.
How much would $10,000 invested in HFEQ be worth?
$10,000 invested in HFEQ at its first recorded close on July 15, 2025 would be worth about $12,464 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of HFEQ?
The largest peak-to-trough decline was −12.5% between February 25, 2026 and March 30, 2026. It recovered to the old high on May 6, 2026, 37 days after the bottom.
How volatile is HFEQ?
Over the past history HFEQ had an annualized volatility of 16.8% and a Sharpe ratio of 1.02 (excess return over 1–3 month T-bills per unit of risk).