Hedgeye Capital Allocation ETF (HECA) Research

The Hedgeye Capital Allocation ETF (HECA) employs a dynamic, multi-asset investment strategy. Its primary objective is to maximize capital appreciation over rolling 12-month periods while strictly limiting potential drawdowns to a maximum of 15%. The fund diversifies its holdings across various asset classes, including equities, fixed income instruments, commodities, and currencies. At the heart of HECA's approach is its proprietary "Quad" model. This regime-based, quantitative framework systematically analyzes the directional shifts in key macroeconomic indicators: economic growth, inflation, and monetary policy trends. Portfolio construction and asset allocation are directly informed by these macro signals, strategically aligning investments with prevailing market environments. To further refine its strategy, the fund supplements this framework with both internal analysis and external research to pinpoint nascent themes and emergent investment opportunities. While primarily gaining exposure through US-listed Exchange Traded Funds (ETFs), HECA also retains the flexibility to invest in individual equity and debt securities. An options overlay is an integral component of the strategy, utilized for hedging against downside risk, fine-tuning exposure levels, or enhancing potential returns. Importantly, the portfolio maintains full flexibility, without predetermined geographical allocation limits.

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