ETF Evaluator:
Hedgeye Quality Growth ETF ()
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(as of Aug 26)
Best Performing in Large Blend Over the Last Year
| 62.5% | ARS Focused Opportunities Strategy ETF (AFOS) |
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| 33.9% | Impact Shares NAACP Minority Empwrmt ETF (NACP) |
| 31.8% | Astoria US Equal Weight Quality KingsETF (ROE) |
| 30.5% | FIS Bright Portfolios Focused Equity ETF (BRIF) |
Risk
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Risk
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ETF Details
Hedgeye Quality Growth ETF Overview
Hedgeye Quality Growth ETF (HGRO) is an actively managed U.S. Equity Large Blend exchange-traded fund (ETF). Hedgeye Asset Management, LLC launched the ETF in 2025.
The investment seeks long-term capital appreciation.
The fund seeks to meet its objective by actively managing and investing at least 80% of its net assets (plus any borrowings for investment purposes) in U.S.-listed equity securities. In implementing its main strategies, the fund invests primarily in common stocks and real estate investment trusts (REITs), but it may also invest up to 20% of its total assets in common stocks of foreign companies, including depositary receipts. The fund is non-diversified.
About Hedgeye Quality Growth ETF (HGRO)
There are 1 members of the management team with an average tenure of 1.14 years: SAM Rahman (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Hedgeye Quality Growth ETF has 49 securities in its portfolio. The top 10 holdings constitute 48.5% 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 Quality Growth ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Hedgeye Quality Growth ETF has 1.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 88.6% There is 1.5% 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). Hedgeye Quality Growth ETF has 9.8% of the portfolio in cash.
Assets Under Management
The fund has $126 million in total assets, which is below the $13 billion average for the Large Blend 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.
HGRO 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 Quality Growth ETF expense ratio is above average compared to funds in the Large Blend category. Hedgeye Quality Growth ETF has an expense ratio of 0.70%, which is 69% higher than its category average, making the fund expense ratio grade a D. 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 Quality Growth 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 158% for the Large Blend category.
Recently, in the month of July 2026, Hedgeye Quality Growth ETF returned -3.6%, which earned it a grade of F, as the Large Blend category had an average return of -0.8%. 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 Quality Growth ETF has a trailing yield of 0.08%, which is below the 1.16% 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.
Hedgeye Quality Growth ETF Grades
Year to date, the ETF has returned 6.7%, 2.8 percentage points worse than the category, which translates into a grade of F. The fund has returned 14.0% over the past year (grade of D).
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HGRO 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 |
|
| HGRO Return (NAV) | -3.6% | 1.4% | 14.0% | na | na | na |
| HGRO Return (Price) | -3.5% | 1.2% | 13.7% | na | na | na |
| NAV +/- Price Return | -0.101% | 0.140% | 0.284% | na | na | na |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| HGRO Grade (NAV) | F | F | D | na | na | na |
| +/- Category (NAV) | -2.8% | -2.3% | -3.5% | na | na | na |
| HGRO Tax-Cost Ratio | na | na | 0.0% | na | na | na |
HGRO Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HGRO Return (NAV) | 6.7% | na | na | na | na | na | na | na | na | na | na |
| HGRO Return (Price) | 6.6% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.021% | na | na | na | na | na | na | na | na | na | na |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| HGRO Grade (NAV) | F | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -2.8% | 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: | $ 126 Mil |
| Share Class Assets: | $ 126 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: 1.1 years | |||
| Average Tenure: 1.1 years | |||
| Managers (Year): Rahman SAM (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 49 |
| % in Top 10 Holdings: | 48.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 1.5% |
Portfolio Allocation |
|
| Domestic Stock: | 88.6% |
| Foreign Stock: | 1.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 9.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Hedgeye Asset Management, LLC |
| Phone Number: | 888-711-8292 |
| Website: | |
| Inception Date: | June 10, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.70% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.41% |
