HEFT ETF — Hedgeye Fourth Turning ETF

Hedgeye Fourth Turning ETF (HEFT)

Updated October 16, 2026.

HEFT is an ETF. its trailing-12-month yield is 0.02%, its expense ratio is 0.70%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 6.3% over the past 0.9 years, 10.8 points behind SPY at 17.1%.

Hedgeye Fourth Turning ETF is an actively managed equity fund that employs a long-short strategy, maintaining long exposure of up to approximately 150% of net assets while simultaneously shorting up to approximately 50% of net assets in securities expected to underperform during Fourth Turning economic conditions, such as over-leveraged financials, legacy technology companies, and long-term fixed-rate debt. The fund has a very modest current distribution rate and carries an expense ratio of 0.70%; it distributes annually, though its latest distribution was special and may not recur. This strategy may appeal to investors seeking tactical exposure to secular market shifts and demographic or policy-driven opportunities, rather than traditional income-focused investors.

HEFT performance versus SPY

Price and return data through 2026-10-16.

Total return is 6.3% over the past 0.9 years, 10.8 points behind SPY at 17.1%. Its deepest 1-year drawdown was 9.2%.

HEFT key facts

Distribution Safety Score™

50 · Unproven

Issuer

Hedgeye

Asset type

ETF

Asset class

Equity

Inception date

11/20/2025

Expense ratio

0.70%

Distribution frequency

Annual

Trailing yield

0.02%

Last close

$26.61 (as of 2026-10-16)

AUM

$79,581,891

Average volume

16889.0

Dividend

$0.005

Ex-dividend date

12/30/2025

Payment date

12/31/2025

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.02%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Hedgeye; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

HEFT risks and drawbacks

Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 9.2%.

Who may consider HEFT — and who may not

It is a weaker fit for investors who need monthly cash flow (HEFT pays annual); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on HEFT

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Frequently asked questions

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