Unlimited HFGM Global Macro ETF

Frequently Asked Questions About HFGM

What does HFGM invest in?

HFGM aims to create a portfolio with similar characteristics but larger notional exposure to the hedge fund industrys Global Macro sector that profits from global economic shifts. The fund seeks to outperform the industry by targeting twice its volatility. The initial universe comprises of broad-based, passively managed ETFs across diverse asset classes. To reach the 2x volatility target, HFGM takes long and short positions in 10-30 ETFs and futures contracts. A proprietary algorithm identifies optimal positions by analyzing historical return and volatility patterns of the Global Macro sector. Portfolio managers choose inputs based on return factors perceived to best capture recent positions. The fund makes frequent adjustments to the portfolio, resulting in significant trading volumes. The fund invests up to 25% in futures contracts and swap agreements through a wholly owned Cayman Islands subsidiary. The actively managed fund does not invest in hedge fund strategies or positions.

What is the expense ratio of HFGM?

Unlimited HFGM Global Macro ETF (HFGM) charges an expense ratio of 0.95%. This is the annual fee deducted from fund assets to cover management and operations.

How big is HFGM?

Unlimited HFGM Global Macro ETF (HFGM) manages $67.9M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is HFGM actively managed or an index fund?

HFGM is actively managed — the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (HFGM's is 0.95%) in exchange for the discretion to over- or under-weight positions.

When was HFGM launched?

Unlimited HFGM Global Macro ETF (HFGM) launched in April 2025 and is managed by Unlimited.

How has HFGM performed?

HFGM's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.