ETF Evaluator:
Hedgeye Hedged Bitcoin ETF ()
Follow This ETF
(as of Nov 13)
Best Performing in Digital Assets Over the Last Year
| 212.0% | The Zcash ETF (ZCSH) |
| 100.3% | Grayscale Near Trust (GSNR) |
| 26.6% | ProShares Short Ether ETF (SETH) |
| 11.5% | Horizon Kinetics Blockchain Dev ETF (BCDF) |
| 8.6% | Simplify US Equity PLUS Bitcoin Stgy ETF (SPBC) |
Risk
Index
Risk
Index
ETF Details
Hedgeye Hedged Bitcoin ETF Overview
Hedgeye Hedged Bitcoin ETF (HBIT) is an actively managed Miscellaneous Digital Assets exchange-traded fund (ETF). Hedgeye Asset Management, LLC launched the ETF in 2026.
The investment seeks long-term capital appreciation.
The fund is an actively managed exchange-traded fund (“ETF”) that seeks long-term capital appreciation through participation in the price return of Bitcoin, through investments that provide exposure to Bitcoin or have economic characteristics similar to Bitcoin. It will gain its exposure to the Reference Asset primarily through ETFs and exchange-traded products (“ETPs”) that directly hold the Reference Asset while seeking to reduce volatility and manage downside risk through the use of options. It is non-diversified.
About Hedgeye Hedged Bitcoin ETF (HBIT)
There are 1 members of the management team with an average tenure of 0.18 years: John McNamara III (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Hedgeye Hedged Bitcoin ETF has 9 securities in its portfolio. The top 10 holdings constitute 164.8% 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.
Hedgeye Hedged Bitcoin ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Hedgeye Hedged Bitcoin ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 81.6% There is 0.0% 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). Hedgeye Hedged Bitcoin ETF has -10.3% of the portfolio in cash.
Assets Under Management
The fund has $3 million in total assets, which is below the $809 million average for the Digital Assets 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.
HBIT 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 Hedgeye Hedged Bitcoin ETF expense ratio is above average compared to funds in the Digital Assets category. Hedgeye Hedged Bitcoin ETF has an expense ratio of 0.70%, which is 17% lower than its category average, making the fund expense ratio grade a C. 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. Hedgeye Hedged Bitcoin ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 72% for the Digital Assets category.
Recently, in the month of October 2026, Hedgeye Hedged Bitcoin ETF returned -3.0%, which earned it a grade of A, as the Digital Assets category had an average return of -12.1%. 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.
Hedgeye Hedged Bitcoin ETF has a trailing yield of 0.00%, which is below the 10.21% 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.
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HBIT Trailing NAV Total Returns Data as of 10/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| HBIT Return (NAV) | -3.0% | na | na | na | na | na |
| HBIT Return (Price) | -3.1% | na | na | na | na | na |
| NAV +/- Price Return | 0.136% | na | na | na | na | na |
| Digital Assets Avg | -12.1% | 19.4% | -29.0% | 13.3% | -17.0% | 57.0% |
| HBIT Grade (NAV) | A | na | na | na | na | na |
| +/- Category (NAV) | 9.1% | na | na | na | na | na |
| HBIT Tax-Cost Ratio | na | na | na | na | na | na |
HBIT Annual NAV Total ReturnsData as of 10/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HBIT Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| HBIT Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Digital Assets Avg | -16.3% | -5.9% | 61.5% | 126.8% | -72.8% | 199.4% | 175.1% | 11.8% | -81.4% | 1391.4% | 119.9% |
| HBIT Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | 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: | -- |
| Total Assets: | $ 3 Mil |
| Share Class Assets: | $ 3 Mil |
| Turnover: | na |
| Expense Ratio: | 0.70% |
| 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: 1 | |||
| Longest Tenure: 0.2 years | |||
| Average Tenure: 0.2 years | |||
| Managers (Year): McNamara III John (2026) | |||
Portfolio Composition (as of 10/30/26)
| # of Holdings: | 9 |
| % in Top 10 Holdings: | 164.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 81.6% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 28.7% |
| Cash: | -10.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Hedgeye Asset Management, LLC |
| Phone Number: | 888-711-8292 |
| Website: | |
| Inception Date: | August 26, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.70% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.85% |
