ETF Evaluator:
Day Hagan Smart Sector Fixed Income ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Nontraditional Bond Over the Last Year
| 7.1% | Simplify Kayne Anderson Ey&InfrasCrdtETF (KNRG) |
| 6.8% | WisdomTree Interest Rt Hdg Hi Yld Bd ETF (HYZD) |
| 6.3% | ProShares High Yield—Interest Rate Hdgd (HYHG) |
| 6.0% | FolioBeyond Alt Inc and Int Rt Hdg ETF (RISR) |
| 5.6% | NEOS Enhanced Income Credit Select ETF (HYBI) |
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ETF Details
Day Hagan Smart Sector Fixed Income ETF Overview
Day Hagan Smart Sector Fixed Income ETF (SSFI) is an actively managed Taxable Bond Nontraditional Bond exchange-traded fund (ETF). Day Hagan launched the ETF in 2021.
The investment seeks total return, consisting of income and capital appreciation.
The fund is considered a “fund of funds” that, under normal market conditions, seeks to achieve its investment objective by principally investing in unaffiliated fixed income exchange traded funds that invest in fixed income categories. Under normal market conditions, the fund will invest, indirectly through the underlying funds, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in fixed income securities and other instruments that have economic characteristics similar to such securities. The fund is non-diversified.
About Day Hagan Smart Sector Fixed Income ETF (SSFI)
There are 3 members of the management team with an average tenure of 4.84 years: Donald Hagan (2021), Arthur Day (2021) and Regan Teague (2021). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Day Hagan Smart Sector Fixed Income ETF has 9 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 nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Day Hagan Smart Sector Fixed Income ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Day Hagan Smart Sector Fixed Income ETF has 25.6% 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 98.6% (73.1% domestic bond, 25.6% foreign bond and 0.0% convertible bond). Day Hagan Smart Sector Fixed Income ETF has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $29 million in total assets, which is below the $320 million average for the Nontraditional Bond 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.
SSFI 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 Sector Fixed Income ETF expense ratio is above average compared to funds in the Nontraditional Bond category. Day Hagan Smart Sector Fixed Income ETF has an expense ratio of 0.76%, which is 43% 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 Sector Fixed Income ETF has a portfolio turnover rate of 59%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 190% for the Nontraditional Bond category.
Recently, in the month of July 2026, Day Hagan Smart Sector Fixed Income ETF returned -1.6%, which earned it a grade of F, as the Nontraditional Bond category had an average return of -0.4%. 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.
Day Hagan Smart Sector Fixed Income ETF has a trailing yield of 3.66%, which is below the 6.67% category average.
The fund normally distributes its income quarterly 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 Sector Fixed Income ETF Grades
Year to date, the ETF has returned -0.9%, 1.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 1.9% over the past year (grade of F) and 2.7% over the past three years (grade of F).
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SSFI 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 |
|
| SSFI Return (NAV) | -1.6% | -0.9% | 1.9% | 2.7% | na | na |
| SSFI Return (Price) | -1.6% | -0.8% | 2.2% | 2.7% | na | na |
| NAV +/- Price Return | -0.009% | -0.101% | -0.263% | -0.040% | na | na |
| Nontraditional Bond Avg | -0.4% | -0.6% | 2.7% | 5.4% | 3.4% | 4.3% |
| SSFI Grade (NAV) | F | F | F | F | na | na |
| +/- Category (NAV) | -1.3% | -0.4% | -0.7% | -2.7% | na | na |
| SSFI Tax-Cost Ratio | na | na | 1.4% | 1.5% | na | na |
SSFI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SSFI Return (NAV) | -0.9% | 6.5% | 1.2% | 4.2% | -12.7% | na | na | na | na | na | na |
| SSFI Return (Price) | -1.1% | 6.8% | 1.1% | 4.2% | -12.8% | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.129% | 0.047% | -0.085% | 0.008% | 0.013% | na | na | na | na | na | na |
| Nontraditional Bond Avg | 0.1% | 4.6% | 8.2% | 9.5% | -3.9% | 6.2% | 0.9% | 7.2% | -0.7% | 4.0% | 7.7% |
| SSFI Grade (NAV) | F | B | F | F | F | na | na | na | na | na | na |
| +/- Category | -1.0% | 1.9% | -7.0% | -5.3% | -8.8% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.95 |
| R-Squared: | 97% |
| Standard Deviation: | 5.4% |
| Category Risk Index: | 1.00 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.44 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 3.7% |
| Total Assets: | $ 29 Mil |
| Share Class Assets: | $ 29 Mil |
| Turnover: | 59.0% |
| Expense Ratio: | 0.76% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 4.8 years | |||
| Average Tenure: 4.8 years | |||
| Managers (Year): Hagan Donald (2021), Day Arthur (2021), Teague Regan (2021) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 9 |
| % in Top 10 Holdings: | 100.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 25.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 73.1% |
| Foreign Bond: | 25.6% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.4% |
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: | September 28, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.76% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 1.34% |
