In an environment of shifting outlooks and ongoing market volatility, portfolio diversification provides a number of potential benefits. For investors looking to augment traditional portfolios with alternatives exposure, the Unlimited HFGM Global Macro ETF (HFGM) deserves consideration. Launched earlier this year, the fund continues to accumulate flows while delivering notable performance.
Global macro strategies harness macroeconomic outlooks, factors, and themes. They express these global perspectives locally as well as internationally through a variety of asset classes. The strategy seeks to benefit from global macroeconomic trends and generally provides diversified performance compared to traditional stock and bond portfolios. It makes the strategies a notable potential diversifier within the alternatives category.
The Unlimited HFGM Global Macro ETF (HFGM) seeks to capitalize on global market mispricing. The strategy takes long and short positions across equities, fixed income, currency, credit, and exchange rate markets. The fund makes a strong complement to traditional portfolios with its low correlations and higher-octane approach to alternatives.
The strategy works to capture the alpha potential of global macro hedge funds with the tax efficiency and fee savings of an ETF wrapper. Advisors and investors have taken note of HFGM, with steady inflows netting over $18 million since the fund’s launch on April 14, 2025.
HFGM uses a proprietary, data-driven approach that seeks to identify hedge fund global macro managers’ current positions. It then replicates the positions in its portfolio, investing in long and short positions in futures contracts and a basket of ETFs. The ETF offers similar returns to the hedge fund sector, but twice the volatility of the sector. The firm believes this approach may yield outperformance.
HFGM targets the global macro portion within the firm’s Unlimited HFND Multi-Strategy Return Tracker ETF (HFND). HFND captures a range of hedge fund strategies within a single fund. HFGM is managed by Bob Elliott, who brings more than two decades of systematic global macro investing experience to the table. The fund has a management fee of 1.00%.
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