USHG — AGFIQ Dynamic Hedged U.S. Equity ETF
Data updated: 2021-02-23
USHG — AGFIQ Dynamic Hedged U.S. Equity ETF. Money Market · $3.10M AUM · 0.82% expense ratio · 14.4% 1-yr return. Holdings, fees, performance and SEC filings.
USHG Fund Overview
USHG — AGFIQ Dynamic Hedged U.S. Equity ETF is a US ETF managed by AGF Investments Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: AGF Investments Trust
- Category: Money Market
- Assets under management: $3.10M
- 1-year return: 14.4%
- Ticker: USHG
- SEC CIK: 0001479599
- SEC series ID: S000065470
- Share class ID: C000211760
USHG Investment Objective and Strategy
AGFIQ Dynamic Hedged U.S. Equity ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by AGF Investments Trust.
Investment objective
The Fund seeks to provide long-term capital appreciation and maintain lower than market volatility.
Principal investment strategy
The Fund, under normal circumstances, invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of issuers economically tied to the United States. The Fund will operate as a fund-of-funds by investing primarily in sector-based exchange-traded funds (ETFs) and other ETFs. The Fund is an actively managed ETF that seeks to achieve its investment objective by using proprietary, multi-factor quantitative models that use fundamental factors and market risk measurement factors to help establish allocation to primary sectors of the S&P 500 Index, as well as cash and cash equivalents. The primary sectors of the S&P 500 Index include: consumer discretionary, consumer staples, communications services, energy, financials, healthcare, industrials, materials, real estate, technology, and utilities.
The sector allocation model is driven by factors related to size, valuation, momentum and quality. This sector model runs on a daily basis, ranking each sector based on relative attractiveness and expected returns to help the Funds portfolio managers determine whether to take an overweight, underweight or neutral position to a particular sector relative to that sectors benchmark weight. The sector model uses a multi-factor approach and considers all S&P 500 sectors but is not expected to generally emphasize any particular factor, valuation method or sector. The market risk model also runs on a daily basis and analyzes market and macro-economic data to help the portfolio managers identify the equity risk level. The portfolio managers use the output of both the sector model and market risk model to help determine final allocations for the strategy.
The Fund seeks to provide risk controls in down markets, through embedded downside risk management, in order to attempt to protect capital in periods of falling equity markets, while providing potential for outperformance in up markets. To seek to provide risk controls in down markets, the Fund intends to invest in the AGFiQ U.S. Market Neutral Anti-Beta Fund, an ETF that is also managed by the Adviser and may also invest in similar lower beta ETFs available in the marketplace, including ETFs managed by the Adviser, as well as cash, money market ETFs, money market securities and Treasury Bills. For this purpose, low beta or lower beta refers to ETFs or other securities that are less sensitive to the movement of the overall equity market, as represented by the S&P 500. A lower beta security is generally expected to be less volatile than the overall equity market and inclusion of low beta securities in a portfolio may help lower that portfolios overall volatility.
The Fund does not anticipate using traditional hedging techniques such as derivatives or short sales. Instead, the portfolio managers intend to increase allocations to lower beta ETFs within the portfolio at times when they believe equity market risk to be high or rising and to decrease such allocations when equity market risk levels are estimated to be low or falling. The Funds allocations to lower beta ETFs is anticipated to fluctuate but typically range from 0% to 50% of net assets.
USHG Performance
Total returns for USHG (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 14.4% |
USHG Risk Information
Risk metrics for USHG, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 18.6%
USHG Costs and Fees
USHG costs about $82 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.82%
- Gross expense ratio: 6.47%
- Portfolio turnover: 31%
- Brokerage commissions: 3.28 bps of average net assets (SEC N-CEN)
USHG Cashflows
Over the 12 months to 2020-12, AGFIQ Dynamic Hedged U.S. Equity ETF had net inflows of $0, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-12 | $0 |
| 2020-11 | $0 |
| 2020-10 | $0 |
| 2020-09 | $0 |
| 2020-08 | $0 |
| 2020-07 | $0 |
USHG Debt Constituents
No individual debt constituents are reported in AGFIQ Dynamic Hedged U.S. Equity ETF's latest SEC N-PORT filing.
USHG Prospectus and SEC Filings
Official AGFIQ Dynamic Hedged U.S. Equity ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-11-17
- Prospectus (485BPOS) — filed 2019-11-14
- Prospectus (485BPOS) — filed 2019-05-30
- Portfolio holdings (N-PORT) — filed 2021-02-23
- Portfolio holdings (N-PORT) — filed 2020-11-17
- Portfolio holdings (N-PORT) — filed 2020-08-24
- Annual census (N-CEN) — filed 2020-09-14
- Annual census (N-CEN) — filed 2019-09-10
Related Funds
Other Money Market funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.