Key Takeaways
- • Hedgeye Fourth Turning ETF (HEFT) launched in 2025 as an actively managed long-short equity strategy by Hedgeye Asset Management, LLC, seeking long-term real capital appreciation through dynamic investment positioning.
- • HEFT traded at $26.22 USD as of the reporting period, with a net asset value (NAV) of $26.31, representing a modest 0.04% gain over 24 hours but a 3.72% decline over the prior month.
- • 52-week trading range spans $24.92 to $28.84, with a trailing price-to-earnings ratio of 23.54x and average daily volume of 49,321 shares, indicating moderate liquidity for an actively managed alternative equity fund.
- • Benchmark comparison shows 3-year returns of 65.99% and 5-year returns of 59.55% against the MSCI World index, with YTD returns of 9.57%, positioning the fund within the competitive long-short equity landscape.
- • Fund structure combines long and short equity positions under normal market conditions, distinguishing it from traditional passive equity ETFs and appealing to institutional investors seeking alternative beta exposure.
Summary
The Hedgeye Fourth Turning ETF (HEFT), launched in 2025 by Hedgeye Asset Management, LLC, represents an actively managed entry into the long-short equity ETF space. Unlike passive index-tracking funds, HEFT employs a dynamic investment strategy designed to capture long-term real capital appreciation through simultaneous long and short equity positions, offering institutional investors an alternative approach to traditional equity market exposure.
As of the most recent trading data, HEFT was priced at $26.22 per share with a net asset value of $26.31, reflecting minimal daily volatility at +0.04% but a more pronounced monthly decline of 3.72%. The fund's 52-week trading range of $24.92 to $28.84 demonstrates moderate price stability relative to its launch, while average daily volume of 49,321 shares suggests reasonable liquidity for an actively managed product. These metrics indicate the fund has established a functional trading market despite its recent launch.
From a valuation perspective, HEFT trades at a trailing price-to-earnings multiple of 23.54x, positioning it competitively within the broader equity fund universe. Performance benchmarking against the MSCI World index shows the fund delivered 65.99% returns over three years and 59.55% over five years, with year-to-date returns of 9.57%. These comparative returns provide institutional investors with concrete performance data for evaluating the fund's active management approach relative to passive alternatives.
The fund's structure as a nontraditional equity long-short strategy addresses the institutional demand for hedged equity exposure, particularly among hedge fund managers and family offices seeking to reduce systematic market risk while maintaining growth participation. Hedgeye Asset Management's active management philosophy, embedded in the fund's mandate to maintain both long and short positions under normal market conditions, differentiates HEFT from conventional long-only equity vehicles and appeals to alternative investment professionals seeking tactical flexibility and diversified return streams.
As of the most recent trading data, HEFT was priced at $26.22 per share with a net asset value of $26.31, reflecting minimal daily volatility at +0.04% but a more pronounced monthly decline of 3.72%. The fund's 52-week trading range of $24.92 to $28.84 demonstrates moderate price stability relative to its launch, while average daily volume of 49,321 shares suggests reasonable liquidity for an actively managed product. These metrics indicate the fund has established a functional trading market despite its recent launch.
From a valuation perspective, HEFT trades at a trailing price-to-earnings multiple of 23.54x, positioning it competitively within the broader equity fund universe. Performance benchmarking against the MSCI World index shows the fund delivered 65.99% returns over three years and 59.55% over five years, with year-to-date returns of 9.57%. These comparative returns provide institutional investors with concrete performance data for evaluating the fund's active management approach relative to passive alternatives.
The fund's structure as a nontraditional equity long-short strategy addresses the institutional demand for hedged equity exposure, particularly among hedge fund managers and family offices seeking to reduce systematic market risk while maintaining growth participation. Hedgeye Asset Management's active management philosophy, embedded in the fund's mandate to maintain both long and short positions under normal market conditions, differentiates HEFT from conventional long-only equity vehicles and appeals to alternative investment professionals seeking tactical flexibility and diversified return streams.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.