ETF Evaluator:
Equable Shares Hedged Equity ETF ()
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(as of Aug 26)
Best Performing in Equity Hedged Over the Last Year
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ETF Details
Equable Shares Hedged Equity ETF Overview
Equable Shares Hedged Equity ETF (HEDG) is an actively managed Nontraditional Equity Equity Hedged exchange-traded fund (ETF). Equable Shares launched the ETF in 2019.
The investment seeks income, risk mitigation and long-term capital appreciation.
The fund seeks to achieve its investment objective by investing in equity securities of U.S. issuers based on the S&P 500 Index (the "index") while hedging overall market exposure by writing (selling) exchange traded call options based on the same securities. Under normal market conditions, it invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities based on the index.
About Equable Shares Hedged Equity ETF (HEDG)
There are 1 members of the management team with an average tenure of 7.17 years: Ronald Santella (2019). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Equable Shares Hedged Equity ETF has 12 securities in its portfolio. The top 10 holdings constitute 105.7% 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.
Equable Shares Hedged Equity ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. Equable Shares Hedged Equity ETF has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.0% 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). Equable Shares Hedged Equity ETF has 7.6% of the portfolio in cash.
Assets Under Management
The fund has $427 million in total assets, which is above the $294 million average for the Equity Hedged 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.
HEDG 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 Equable Shares Hedged Equity ETF expense ratio is high compared to funds in the Equity Hedged category. Equable Shares Hedged Equity ETF has an expense ratio of 0.96%, which is 26% higher than its category average, making the fund expense ratio grade a F. 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. Equable Shares Hedged Equity ETF has a portfolio turnover rate of 42%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 97% for the Equity Hedged category.
Recently, in the month of July 2026, Equable Shares Hedged Equity ETF returned 0.9%, which earned it a grade of B, as the Equity Hedged category had an average return of -1.4%. 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.
Equable Shares Hedged Equity ETF has a trailing yield of 2.09%, which is below the 3.45% category average.
The fund normally distributes its income quarterly.
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.
Equable Shares Hedged Equity ETF Grades
Year to date, the ETF has returned 4.3%, 2.8 percentage points worse than the category, which translates into a grade of D. The fund has returned 9.7% over the past year (grade of F), 9.6% over the past three years (grade of F) and 7.5% per year over the past five years (grade of C).
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HEDG 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 |
|
| HEDG Return (NAV) | 0.9% | 2.2% | 9.7% | 9.6% | 7.5% | na |
| HEDG Return (Price) | 0.8% | 2.2% | 9.7% | 9.6% | 7.5% | na |
| NAV +/- Price Return | 0.064% | -0.058% | -0.031% | -0.010% | -0.006% | na |
| Equity Hedged Avg | -1.4% | 1.7% | 13.6% | 12.0% | 6.6% | 7.6% |
| HEDG Grade (NAV) | B | C | F | F | C | na |
| +/- Category (NAV) | 2.3% | 0.5% | -3.9% | -2.4% | 0.9% | na |
| HEDG Tax-Cost Ratio | na | na | 1.2% | 1.3% | 1.0% | na |
HEDG Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HEDG Return (NAV) | 4.3% | 10.2% | 10.1% | 14.6% | -6.1% | 12.9% | 5.0% | na | na | na | na |
| HEDG Return (Price) | 4.1% | 10.4% | 10.1% | 14.6% | -6.1% | 12.9% | 5.0% | na | na | na | na |
| NAV +/- Price Ret | -0.040% | 0.021% | 0.000% | 0.000% | 0.000% | 0.000% | 0.000% | na | na | na | na |
| Equity Hedged Avg | 7.1% | 12.6% | 14.6% | 14.8% | -12.9% | 15.6% | 10.2% | 9.9% | -6.3% | 12.2% | 3.0% |
| HEDG Grade (NAV) | D | D | D | C | A | D | D | na | na | na | na |
| +/- Category | -2.8% | -2.4% | -4.5% | -0.2% | 6.8% | -2.7% | -5.2% | na | na | na | na |
| Risk Measures | |
| Beta: | 0.29 |
| R-Squared: | 81% |
| Standard Deviation: | 4.2% |
| Category Risk Index: | 0.40 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.34 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 2.1% |
| Total Assets: | $ 427 Mil |
| Share Class Assets: | $ 427 Mil |
| Turnover: | 42.0% |
| Expense Ratio: | 0.96% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 7.2 years | |||
| Average Tenure: 7.2 years | |||
| Managers (Year): Santella Ronald (2019) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 12 |
| % in Top 10 Holdings: | 105.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 92.0% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -0.0% |
| Cash: | 7.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Equable Shares |
| Phone Number: | 800-617-0004 |
| Website: | |
| Inception Date: | May 31, 2019 |
Expenses and Fees
| Expense Ratio (%): | 0.96% (Rating: High) |
| Category Average Expense Ratio (%): | 0.76% |
