SHDG
Soundwatch Hedged Equity ETF
SHDG is an actively managed, fund-of-funds which seeks to hedge downside US equity market risk and long-term capital appreciation. The fund combines equity exposure with several strategies using derivatives to hedge or generate income.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
146.2 M
ASSETS UNDER MGMT
53 bp
EXPENSES
Fund Basics
| Fund sponsor | Soundwatch Capital LLC |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | Oct 24, 2022 |
| Assets (mns) | $146 |
| Expense ratio | 53 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | Yes |
Top Holdings
| ISHARES CORE S&P 500 ETF | 97.8 % |
| CASH & OTHER | 2.3 % |
| SPXW US 06/30/25 P5330 | 1.3 % |
| SPXW US 12/31/25 C6300 | 0.1 % |
| SPXW US 12/31/25 P6300 | -0.4 % |
| SPXW US 06/30/25 P4850 | -0.4 % |
| SPXW US 06/30/25 C6020 | -0.7 % |
Asset Allocation
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -4.8% | 8.5% | 10.4% | -- | -- | -- | -- | 12.3% |
| Dividend Yield | 0.0% | 0.0% | 0.7% | -- | -- | -- | -- | 1.0% |
| Total Returns | -4.8% | 8.5% | 11.1% | -- | -- | -- | -- | 13.2% | Ann. Volatility | 20.4% | 14.7% | 12.0% | -- | -- | -- | -- | 12.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.85 | 102% |
| MSCI EAFE | 0.56 | 49% |
| MSCI Emg Mkts | 0.47 | 24% |
Liquidity Measures
| Avg. volume (000) | 4 |
| ADV traded (mns) | $0 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.33% |
Technical Indicators
| Recent close | $27.99 |
| 30d moving avg. | $27.34 |
| Annualized volatility | 11.5% |
| Relative strength (RSI) | 48 |
| Short interest | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active Risk Management Derivatives ETFs |
| # of ETFs | 109 |
| Avg. Expense Ratio | 85.0 bp |
| Std. Deviation | 17 bp |
| SHDG (53 bp) Percentile rank | 5 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| SHDG | 53.0 | 32.6 | 85.6 |
| Peer Avg. | 90.6 | 32.1 | 122.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .