HFND vs SPE
Unlimited HFND Multi-Strategy Return Tracker ETF vs Special Opportunities Fund Inc
Which is better, HFND or SPE?
Each has led over a different period.
HFND has a lower expense ratio. HFND led over 1Y, SPE over 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HFND | SPE |
|---|---|---|
| Expense Ratio | 1.07%Best | 4.89% |
| AUM | $38M | $166M |
| Dividend Yield | 4.80% | 8.78% |
| Holdings | 47 | 158 |
| YTD Return | +4.88%Best | -10.14% |
| 1Y Return | +5.34%Best | -12.08% |
| 3Y Return (annualized) | +9.04% | +13.96%Best |
| 5Y Return (annualized) | - | +5.02% |
| Volatility (annualized) | 7.4%Best | 13.7% |
| Max Drawdown | -13.3%Best | -20.8% |
| $10,000 over 4 years | $13,113 | $15,362Best |
| Fund Family | Unlimited Funds | Special Opportunities Fund |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Oct 10, 2022 | Jun 8, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Oct 11, 2022 to Oct 14, 2026 (4 years).
HFND vs SPE growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4 years both funds cover.
HFND vs SPE Performance
Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) is an ETF from Unlimited Funds and Special Opportunities Fund Inc (SPE) is an ETF from Special Opportunities Fund. Over the past year HFND returned +5.34% while SPE returned -12.08%. Year to date, HFND is up 4.88% versus a loss of 10.14% for SPE.
Over three years, HFND compounded at +9.04% per year against +13.96% for SPE. Across the full 4-year window we track, SPE has the edge at +11.33% annualized vs +7.01%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPE has been the more volatile fund, with annualized monthly volatility of 13.7% compared with 7.4% for HFND. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -13.3% for HFND and -20.8% for SPE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HFND charges 1.07% per year while SPE charges 4.89%. On a $10,000 position that is $107 vs $489 annually, a gap of $382 per year that compounds over a long holding period. On income, HFND currently yields 4.80% against 8.78% for SPE.
Holdings Overlap
We hold position weights for 23 holdings in HFND and 104 in SPE, totalling 93.3% and 132.7% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 259 days apart, HFND as of Sep 16, 2026 and SPE as of Dec 31, 2025, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 23 positions we hold weights for in HFND and 104 in SPE, against full books of 47 and 158.
You are not choosing between two funds in isolation.
Whichever of HFND and SPE you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HFND or SPE?
HFND has an expense ratio of 1.07% while SPE charges 4.89%. HFND is the cheaper option, by $382 a year on a $10,000 investment.
Which performed better, HFND or SPE?
Over the past year HFND returned +5.34% vs -12.08% for SPE, so HFND leads on 1-year performance. Over the longest common window we track (4 years), HFND annualized +7.01% vs +11.33% for SPE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HFND or SPE?
SPE has been the more volatile fund at 13.7% annualized versus 7.4% for HFND. Worst drawdown: HFND -13.3% vs SPE -20.8%.
Should I hold both HFND and SPE?
HFND and SPE have a monthly-return correlation of 0.73, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HFND or SPE?
HFND yields 4.80% while SPE yields 8.78%, so SPE currently pays the higher dividend yield.
Is SPE better than HFND?
HFND has a lower expense ratio. HFND led over 1Y, SPE over 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.