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| Returns | 1D | 1M | 3M | YTD | 1Y | 3Y | 5Y | MAX |
|---|---|---|---|---|---|---|---|---|
| Total return | ▼ −0.1% | ▼ −3.8% | ▲ +20.0% | ▼ −7.5% | ▼ −26.4% | — | — | ▼ −9.9% |
| Peer average | ▼ −1.2% | ▼ −5.3% | ▲ +13.5% | ▲ +5.8% | ▼ −7.9% | ▲ +96.4% | ▲ +99.5% | — |
| S&P 500 · VOO | ▼ −0.4% | ▲ +0.9% | ▲ +3.3% | ▲ +13.8% | ▲ +13.3% | ▲ +88.8% | ▲ +81.9% | — |
Reported holdings are shown below. A share-of-fund chart is unavailable for this portfolio.
Holdings as of 2026-10-30. Derivatives are shown using their reported instrument names.
| Holding | Instrument | Weight |
|---|---|---|
| Cash & Other | Reported holding | 57.84% |
| First American Treasury Obligations Fund 01/01/2040 | Reported holding | 45.45% |
| IBIT 12/31/2026 47.6 C | Reported holding | 4.59% |
| IBIT 10/30/2026 43.1 P | Reported holding | 0.03% |
| IBIT 10/30/2026 51.25 C | Reported holding | 0.00% |
| IBIT 10/30/2026 49.4 C | Reported holding | -0.00% |
| IBIT 12/31/2026 47.6 P | Reported holding | -7.90% |
HBTC invests in Bitcoin-related securities with an options overlay to reduce downside risk. The fund does not directly invest in Bitcoin but invests in standardized, cash-settled BTC futures traded on the CME. The actively managed fund invests in options to create synthetic long exposure, allowing it to participate in price changes of the underlying securities. This involves purchasing a put below the current BTC price and selling a call spread above market price, offsetting costs without capping the upside potential. This limits participation in potential gains when the price of BTC goes up. The fund writes call options with 1- to 6-month terms and strike prices equal to the price at the time of purchase. HBTC typically invests in front-month contracts, rolling to the next closest expiration date. The fund invests in futures through a wholly owned Cayman Islands subsidiary. HBTC may also pursue covered calls on BTC futures contracts and similar ETFs. Prior to January 21, 2026, the fund traded under the name Fortuna Hedged Bitcoin Fund.
Distribution yield and SEC yield use different methodologies. Payouts may include income, capital gains, or return of capital.
| Ex-date | Pay date | Per share |
|---|---|---|
| 2025-12-17 | 2025-12-18 | $1.59 |
Estimated annual expense excludes trading costs and assumes constant assets. Fee waivers and fund costs can change.
Historical risk measures describe past behavior and do not predict future returns.
Hear the strategy from the people behind HBTC.