ETF Evaluator:
Canary HBAR ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Digital Assets Over the Last Year
| 1090.2% | Grayscale Zcash Trust (ZEC) (ZCSH) |
| 112.1% | ProShares UltraShort Bitcoin ETF (SBIT) |
| 35.7% | ProShares Short Ether ETF (SETH) |
| 12.3% | Simplify US Equity PLUS Bitcoin Stgy ETF (SPBC) |
| 10.8% | Proshares UltraShort Ether ETF (ETHD) |
Risk
Index
Risk
Index
ETF Details
Canary HBAR ETF Overview
Canary HBAR ETF (HBR) is a passively managed Miscellaneous Digital Assets exchange-traded fund (ETF). Canary Capital Group LLC launched the ETF in 2025.
The investment seeks to track the performance of HBAR, as measured by the Pricing Benchmark, adjusted for the Trust’s expenses and other liabilities.
In seeking to achieve the investment objective, the Trust will hold the fund and will value its net assets and the Shares daily based on the Pricing Benchmark. HBAR will be the only digital asset held by the Trust. The Pricing Benchmark is a U.S. dollar-denominated composite reference rate for the price of the fund.
About Canary HBAR ETF (HBR)
There are 4 members of the management team with an average tenure of 0.76 years: Steven McClurg (2025), Josh Olszewicz (2025), Kevin Farragher (2025) and Drew Hill (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: XRP-USD CCIXber Reference Rate USD index with a weighting of 100%. Canary HBAR ETF has 3 securities in its portfolio. The top 10 holdings constitute 100.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Canary HBAR ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Canary HBAR ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% 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). Canary HBAR ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $48 million in total assets, which is below the $564 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.
HBR 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 Canary HBAR ETF expense ratio is high compared to funds in the Digital Assets category. Canary HBAR ETF has an expense ratio of 0.95%, which is 2% 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. Canary HBAR 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 82% for the Digital Assets category.
Recently, in the month of July 2026, Canary HBAR ETF returned -2.1%, which earned it a grade of D, as the Digital Assets category had an average return of 2.9%. 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.
Canary HBAR ETF has a trailing yield of 0.00%, which is below the 15.12% 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.
Canary HBAR ETF Grades
Year to date, the ETF has returned -36.2%, 5.5 percentage points worse than the category, which translates into a grade of C.
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Canary HBAR ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
HBR 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 |
|
| HBR Return (NAV) | -2.1% | -22.6% | na | na | na | na |
| HBR Return (Price) | -2.3% | -22.5% | na | na | na | na |
| NAV +/- Price Return | 0.153% | -0.102% | na | na | na | na |
| Digital Assets Avg | 2.9% | -16.7% | -32.2% | 6.2% | -17.1% | 54.9% |
| HBR Grade (NAV) | D | D | na | na | na | na |
| +/- Category (NAV) | -5.1% | -5.8% | na | na | na | na |
| HBR Tax-Cost Ratio | na | na | na | na | na | na |
HBR Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HBR Return (NAV) | -36.2% | na | na | na | na | na | na | na | na | na | na |
| HBR Return (Price) | -36.7% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.013% | na | na | na | na | na | na | na | na | na | na |
| Digital Assets Avg | -30.7% | -9.9% | 65.8% | 127.8% | -72.3% | 199.4% | 175.1% | 11.8% | -81.4% | 1391.4% | 119.9% |
| HBR Grade (NAV) | C | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -5.5% | 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: | -- |
| Total Assets: | $ 48 Mil |
| Share Class Assets: | $ 48 Mil |
| Turnover: | na |
| Expense Ratio: | 0.95% |
| Index Fund: | Yes |
| Index Tracked: | XRP-USD CCIXber Reference Rate USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 0.8 years | |||
| Average Tenure: 0.8 years | |||
| Managers (Year): McClurg Steven (2025), Olszewicz Josh (2025), Farragher Kevin (2025), Hill Drew (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 3 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 100.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Grantor Trust |
| Fund Family: | Canary Capital Group LLC |
| Phone Number: | 615-200-0788 |
| Website: | |
| Inception Date: | October 27, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.95% (Rating: High) |
| Category Average Expense Ratio (%): | 0.97% |
