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ZHDG ETF — ZEGA Buy and Hedge ETF
ZEGA Buy and Hedge ETF (ZHDG)
Updated October 16, 2026.
Verdict as of October 16, 2026
ZHDG's distribution is rated unproven by the Dividend Vision Distribution Safety Score™ (50/100, medium confidence). It pays annual and its distribution rate is 2.43%. The latest total cash payment per current share, $0.581 with an ex-date of December 24, 2025, was 10.5% higher than the previous $0.526. These payments are unclassified; this does not establish a base-dividend change.
Sources: ZEGA Financial, Section 19a-1 notices, scoring methodology.
ZHDG is an ETF. its distribution rate is 2.43%, its trailing-12-month yield is 2.43%, its expense ratio is 0.95%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 33.6% over the past 5.3 years, 54.8 points behind SPY at 88.4%.
ZEGA Buy and Hedge ETF is a fund that combines U.S. large-cap equity exposure through S&P 500 call options with income-producing securities including fixed income and preferred shares. The fund distributes annually at a modest current rate and carries an expense ratio of 0.95%. It may appeal to income investors seeking equity market participation with an options-based hedging overlay.
ZHDG dividend yield and income
Price as of 2026-10-16.
The distribution rate (2.43%) uses calculation basis unavailable. Trailing-12-month yield (2.43%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.581. The ex-dividend date is 12/24/2025. The payment date is 12/26/2025.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2025-12-24 | $0.581 | 10.5% Unclassified cash |
| 2024-12-24 | $0.526 | 95.5% Unclassified cash |
| 2023-12-22 | $0.269 | -52.6% Unclassified cash |
| 2022-12-23 | $0.567 | 102.5% Unclassified cash |
| 2021-12-22 | $0.28 | — |
| 2021 total (partial launch year) | $0.28 | — |
| 2022 total | $0.567 | — |
| 2023 total | $0.269 | -52.6% |
| 2024 total | $0.526 | 95.5% |
| 2025 total | $0.581 | 10.5% |
ZHDG dividend growth
Trailing-12-month distributions versus the preceding 12 months changed +10.5%. The 1Y row below uses this same adjacent TTM cash-window comparison.
| Window | Change |
|---|---|
| 1Y | +10.5% |
| 3Y | 2.5% |
ZHDG holdings and sector exposure
Holdings are not available for this snapshot.
ZHDG performance versus SPY
Price and return data through 2026-10-16.
Total return is 33.6% over the past 5.3 years, 54.8 points behind SPY at 88.4%. Over the past year its total return — price change plus distributions reinvested — is 8.6%. Its deepest 1-year drawdown was 8.6%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 1.4% | — |
| 3M | 1.3% | — |
| 6M | 6.9% | — |
| YTD | 5.5% | — |
| 1Y | 8.6% | — |
| 2Y CAGR | — | 10.10% |
| 3Y CAGR | — | 13.90% |
| 5Y CAGR | — | 5.70% |
| Since inception (5.3 years) | 33.6% | 5.70% |
ZHDG key facts
- Distribution Safety Score™
- 50 · Unproven
- Issuer
- ZEGA Financial
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 07/06/2021
- Expense ratio
- 0.95%
- Distribution rate
- 2.43%
- Distribution frequency
- Annual
- Trailing yield
- 2.43%
- Last close
- $23.88 (as of 2026-10-16)
- AUM
- $31,228,331
- Average volume
- 2821.0
- Dividend
- $0.581
- Ex-dividend date
- 12/24/2025
- Payment date
- 12/26/2025
- Beta
- 0.82
How Dividend Vision calculates yield and returns
Distribution rate (2.43%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (2.43%) 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: ZEGA Financial; 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.
ZHDG risks and drawbacks
ZHDG's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. 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 8.6%.
Who may consider ZHDG — and who may not
ZHDG may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (ZHDG pays annual); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.
More on ZHDG
Frequently asked questions
Does ZHDG pay monthly?
No. ZHDG currently pays annual, not monthly.
What is ZHDG's expense ratio?
ZHDG's expense ratio is 0.95%.
What is ZHDG's dividend yield?
ZHDG's distribution rate is 2.43%, paid annual, with a 0.95% expense ratio — calculation basis unavailable.
How has ZHDG's dividend grown?
Trailing-12-month distributions versus the preceding 12 months changed +10.5%. That is the same adjacent TTM cash-window comparison used in the dividend-history table.
When does ZHDG pay a dividend?
ZHDG pays annual. The dividend amount is $0.581. The ex-dividend date is 12/24/2025. The payment date is 12/26/2025.
How has ZHDG performed?
Total return is 33.6% over the past 5.3 years, 54.8 points behind SPY at 88.4%. Over the past year its total return — price change plus distributions reinvested — is 8.6%. Its deepest 1-year drawdown was 8.6%.
Is ZHDG a good investment?
ZHDG's Dividend Vision Distribution Safety Score is 50 (Unproven). That is a risk signal, not investment advice. Its distribution rate is 2.43% (calculation basis unavailable). Compare peers below rather than treating any single figure as a buy or sell.
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Holdings as-of date unavailable.
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