ZHDG

ZEGA Buy and Hedge ETF
*Unless otherwise stated, data provided by FactSet.

ZHDG Fund Description

ZHDG is an actively-managed options strategy that provides S&P 500 equity exposure while attempting to mitigate downside risk. The fund uses options and a broad range of fixed income securities to pursue its investment objective.

ZHDG Factset Analytics Insight

ZHDG deviates from a buy-and-hold approach by actively managing option positions to provide long equity exposure and hedge risk. A small portion of the portfolio, limited to 8-10% annually, is used to provide long US large-cap equity exposure via equity options, options on S&P 500 ETFs, or FLEX options. While a significant portion of the portfolio is invested in income-generating securities such as investment grade or high yield bonds, preferred stocks, or ETFs. The advisor’s investment committee uses proprietary quantitative models and third party data to determine market risks and options probabilities. Individual buy and sell decisions are based on a set of rules. There are no limitations regarding duration or credit risks. Options may be used hedge downside risk or generate additional income. The income generated is used to help reduce the costs of the long options. Note, taxation at the fund level will differ depending on the type of options used.

PERFORMANCE [as of 09/20/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
ZHDG 0.37% -- -- -- -- -- --
ZHDG (NAV) -1.01% -- -- -- -- -- --
No Underlying Index -- -- -- -- -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

ZHDG Summary Data

ZEGA
07/06/21
Open-Ended Fund
1.02%
$79.54M
0.17%
N/A

ZHDG Portfolio Data

--
N/A

ZHDG Index Data

No Underlying Index
Proprietary
Proprietary
N/A

ZHDG Fund Structure

No
--
-- / --
N/A
N/A
Low
N/A
N/A

ZHDG Tax Exposures

20.00% / 39.60%
--
No

ZHDG Factset Analytics Block Liquidity

As of 09/21/21
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of ZHDG. ZHDG is rated a N/A out of 5.

ZHDG Tradability

83,656
$1.69M
68,365
$1.37M
0.17%
$0.04
0.09%
0.45% / -0.36%
None
100.00%
--
--
--
--
0
$19.99
N/A

Options Strategies for Outcome Investing

A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.