ETF Evaluator:
Day Hagan Smart Buffer ETF ()
Follow This ETF
(as of Aug 25)
Best Performing in Derivative Income Over the Last Year
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Risk
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ETF Details
Day Hagan Smart Buffer ETF Overview
Day Hagan Smart Buffer ETF (DHSB) is an actively managed Nontraditional Equity Derivative Income exchange-traded fund (ETF). Day Hagan launched the ETF in 2025.
The investment seeks long-term capital appreciation and preservation of capital.
The fund is an actively managed ETF that, under normal circumstances, seeks to achieve its investment objective principally by investing in U.S.-listed exchange-traded funds that replicate the performance of broad-based U.S. equity indexes, equity securities of companies within such indexes, and utilizing options and/or options “spreads” on U.S. equity investments. The fund is non-diversified.
About Day Hagan Smart Buffer ETF (DHSB)
There are 3 members of the management team with an average tenure of 1.46 years: Donald Hagan (2025), Arthur Day (2025) and Regan Teague (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Day Hagan Smart Buffer ETF has 4 securities in its portfolio. The top 10 holdings constitute 106.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Day Hagan Smart Buffer ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. Day Hagan Smart Buffer ETF has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.2% There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Day Hagan Smart Buffer ETF has 0.3% of the portfolio in cash.
Assets Under Management
The fund has $38 million in total assets, which is below the $727 million average for the Derivative Income category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
DHSB Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Day Hagan Smart Buffer ETF expense ratio is above average compared to funds in the Derivative Income category. Day Hagan Smart Buffer ETF has an expense ratio of 0.68%, which is 18% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Day Hagan Smart Buffer ETF has a portfolio turnover rate of 15%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 69% for the Derivative Income category.
Recently, in the month of July 2026, Day Hagan Smart Buffer ETF returned 0.3%, which earned it a grade of C, as the Derivative Income category had an average return of -1.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Day Hagan Smart Buffer ETF has a trailing yield of 0.11%, which is below the 19.96% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Day Hagan Smart Buffer ETF Grades
Year to date, the ETF has returned 5.1%, 2.5 percentage points better than the category, which translates into a grade of D. The fund has returned 8.4% over the past year (grade of D).
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DHSB Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| DHSB Return (NAV) | 0.3% | 2.0% | 8.4% | na | na | na |
| DHSB Return (Price) | 0.1% | 1.5% | 8.1% | na | na | na |
| NAV +/- Price Return | 0.245% | 0.494% | 0.296% | na | na | na |
| Derivative Income Avg | -1.5% | 0.6% | 11.2% | 13.7% | 8.8% | 7.5% |
| DHSB Grade (NAV) | C | C | D | na | na | na |
| +/- Category (NAV) | 1.9% | 1.4% | -2.8% | na | na | na |
| DHSB Tax-Cost Ratio | na | na | 0.5% | na | na | na |
DHSB Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DHSB Return (NAV) | 5.1% | na | na | na | na | na | na | na | na | na | na |
| DHSB Return (Price) | 4.9% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.037% | na | na | na | na | na | na | na | na | na | na |
| Derivative Income Avg | 2.6% | 10.6% | 18.5% | 17.5% | -11.3% | 19.4% | 1.4% | 19.2% | -7.1% | 12.1% | 8.7% |
| DHSB Grade (NAV) | D | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 2.5% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.1% |
| Total Assets: | $ 38 Mil |
| Share Class Assets: | $ 38 Mil |
| Turnover: | 15.0% |
| Expense Ratio: | 0.68% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.5 years | |||
| Managers (Year): Hagan Donald (2025), Day Arthur (2025), Teague Regan (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 4 |
| % in Top 10 Holdings: | 106.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 99.2% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Day Hagan |
| Phone Number: | 800-594-7930 |
| Website: | https://www.eventideinvestments.com/etfs |
| Inception Date: | February 13, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.68% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.83% |
