Unlimited HFND Multi-Strategy Return Tracker ETF
HFND
New York Stock Exchange- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 250 Broadway, 29th Floor New York NY United States of America 10007
- IPO Date
- Oct 11, 2022
- Website
- unlimitedetfs.com
- Similar Companies
- Business
- Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) is an actively managed exchange-traded fund that seeks to replicate the gross-of-fees return characteristics of the hedge fund industry by investing primarily in long and short positions across 30 to 50 broad-based underlying ETFs and futures contracts. The fund employs a proprietary machine learning algorithm developed by its sub-adviser, Unlimited Funds, Inc., to analyze publicly reported hedge fund sector returns—spanning styles such as long/short equity, global macro, event-driven, fixed income arbitrage, emerging markets, managed futures, and multi-strategy—and construct sector portfolios that match recent performance patterns, which are then aggregated based on relative industry asset levels. Core holdings typically include cash equivalents like First American Government Obligations Fund, futures on high-yield corporate bonds, emerging markets indices, commodities, VIX, currencies, and sector ETFs such as Financial Select Sector SPDR Fund and Vanguard Growth ETF; the portfolio may also incorporate swap agreements as needed. Launched on October 10, 2022, and domiciled in the United States, HFND trades on the NYSE Arca exchange with assets under management of approximately $33.96 million, an expense ratio of 1.07% (recently adjusted to 0.95% management fee), and a dividend yield around 3.38%. The fund is issued by Tidal Trust I (formerly Tidal ETF Trust) and sub-advised by New York-based Unlimited Funds, Inc., founded in 2022 by former Bridgewater Associates executive Bob Elliott (CEO and CIO) and Bruce McNevin (Chief Data Scientist), with headquarters at 222 Broadway, 20th Floor, New York, NY. In recent developments, Unlimited Funds raised an $8 million Series A funding round from investors including Citi Ventures, FirstMark Capital, and Material to support ETF expansion. The firm launched the Unlimited HFGM Global Macro ETF (HFGM) in April 2025, followed by the Unlimited HFMF Managed Futures ETF (HFMF) and Unlimited HFEQ Equity Long/Short ETF (HFEQ) in July 2025, broadening its suite of hedge fund replication strategies that complement HFND's multi-strategy approach. In October 2025, HFND marked its three-year performance milestone with inception-to-date returns of 23.13% to 23.44%, underscoring its mission to deliver tax-efficient, liquid alternatives to traditional hedge fund structures. In December 2025, Unlimited introduced a venture capital-focused fund, further diversifying its lower-cost alternatives lineup managed by Bob Elliott.