Hedgeye Asset Management

What Hedgeye Asset Management does

Hedgeye Asset Management, LLC (HAM) is a privately held, SEC-registered investment adviser and a subsidiary of Hedgeye Risk Management, LLC. The firm was established to extend Hedgeye's institutional-quality research into a shelf of actively managed exchange-traded funds and licensed indices, serving financial advisors, registered investment advisers, and independent broker-dealer networks. HAM operates six distinct strategies: HECA (Capital Allocation), HGRO (Quality Growth), the KSPYUI Hedged Equity Index (licensed to KraneShares as the KSPY ETF), HEFT (Fourth Turning), HELS (130/30 Equity), and ADDS (Index Adds). The product lineup is supported by a portfolio management team with deep institutional pedigree, including veterans from Wellington Management, BNY Mellon, Deutsche Bank, and BofA Merrill Lynch, alongside Neil Howe as a recognized authority on generational theory.

The firm's technology stack centers on proprietary quantitative infrastructure. The Risk Range™ Signals system analyzes daily S&P 500 trading ranges to toggle options strategies for downside risk management in KSPYUI, while machine learning models generate probabilistic forecasts of companies likely to be added to major U.S. equity indices to inform ADDS. These signal systems sit on top of the Growth, Inflation, and Policy (GIP) macroeconomic framework inherited from the Hedgeye parent.

HAM generates revenue through ETF management fees (gross expense ratios ranging from 0.70% on ADDS to 1.95% on HELS) and through index licensing royalties paid by KraneShares for the KSPY product. Distribution is conducted primarily through independent broker-dealer platforms, with LPL Financial providing access to over 22,000 advisors for HECA and HGRO, KraneShares managing KSPY through its own channels, and Foreside Fund Services serving as principal underwriter for the broader lineup. The firm is headquartered in Stamford, Connecticut.

Name

Hedgeye Asset Management

Legal name

Hedgeye Asset Management, LLC

Website

https://hedgeyeam.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Hedgeye Asset Management is an SEC-registered investment adviser and subsidiary of Hedgeye Risk Management that operates six actively managed ETFs and licenses proprietary indices. It serves financial advisors and RIAs through broker-dealer networks including LPL Financial and KraneShares.

Ownership category

akta.pro rank

Product category

Active ETF Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282)

akta.pro primary industry

Sector & Industry Equity ETFs (FSAAAFAC)

Keywords

• Actively managed ETFs
• Asset management services
• Investment management
• Financial research
• Proprietary index licensing

Headquarters

HQ city

Stamford

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. ETF Management Fees: The company manages exchange traded funds (ETFs) and earns management fees based on assets under management (AUM). Each fund has a gross expense ratio (e.g., ADDS at 0.70%, HEFT at 1.07%, HELS at 1.95%, KSPY at 0.88%) that compensates Hedgeye Asset Management for portfolio management and administration.
2. Index Licensing: HAM develops and provides indices based on the intellectual property of Hedgeye Risk Management. The Hedgeye Hedged Equity Index is licensed to KraneShares for the KSPY ETF, generating licensing revenue from the index calculation agent arrangement.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Hedgeye Asset Management, LLC is an SEC-registered investment adviser and subsidiary of Hedgeye Risk Management that manages and distributes a lineup of actively managed ETFs (HECA, HGRO, KSPYUI, HEFT, HELS, ADDS) and develops proprietary indices and model portfolios based on Hedgeye's institutional-quality research. The firm earns revenue primarily from ETF management fees tied to assets under management and from licensing proprietary indices such as the Hedgeye Hedged Equity Index to third-party ETF issuers such as KraneShares.

Product overview

Hedgeye Asset Management (HAM) is an SEC-registered investment adviser and subsidiary of Hedgeye Risk Management that provides a portfolio of actively managed ETFs and index services. The product lineup spans six distinct strategies: HECA (Capital Allocation, macro-driven by David Salem), HGRO (Quality Growth in large-cap companies by Sam Rahman), KSPYUI (Hedged Equity Index using proprietary Risk Range™ signals managed by John McNamara, licensed to KraneShares), HEFT (Fourth Turning themed long-short by Neil Howe and R. Patrick Kent), HELS (130/30 Equity extension long-short by R. Patrick Kent), and ADDS (Index Adds ETF using machine learning by Brooks Cutright). HAM also develops indices and model portfolios based on Hedgeye's intellectual property for use by other registered investment advisers.

Differentiator

Problem solved

Functional benefit

Products and services

• Hedgeye Capital Allocation ETF (HECA)
• Hedgeye Quality Growth ETF (HGRO)
• Hedgeye Hedged Equity Index (KSPYUI)
• Hedgeye Fourth Turning ETF (HEFT)
• Hedgeye 130/30 Equity ETF (HELS)
• Hedgeye Index Adds ETF (ADDS)

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• LPL FinancialcoreChannel Partner/ Reseller/ Distributor · 4 June 2026LPL Financial, the largest independent broker-dealer in the United States, now offers Hedgeye's HECA and HGRO ETFs through its platform. This provides access to LPL's network of over 22,000 financial advisors and their clients, significantly expanding Hedgeye's distribution reach into the independent broker-dealer channel.
• KraneSharescoreChannel Partner/ Reseller/ DistributorKraneShares has launched and manages the KSPY ETF (KraneShares Hedgeye Hedged Equity Index ETF) which tracks the Hedgeye Hedged Equity Index managed by Hedgeye Asset Management. As of February 27, 2026, the fund had net assets of approximately $77.1 million with an annual operating expense of 0.88% and inception date of July 15, 2024.
• Griffin Asset ManagementminorStrategic or Co-development PartnerGriffin Asset Management is listed as a partner on Hedgeye Asset Management's website, indicating a strategic relationship in the asset management space.

Scale indicators5 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Simplify Asset Management: Simplify is an actively managed ETF sponsor that uses derivatives, options overlays, and quantitative signals to build differentiated thematic and risk-managed strategies. HAM's Risk Range™ and long-short ETFs share Simplify's playbook of using options-based hedging to differentiate from passive competition.
• Cambria Funds: Cambria is an independent, advisor-focused ETF sponsor offering actively managed funds across quantitative, value, and tail-risk strategies. Like HAM, Cambria targets RIAs and financial advisors with differentiated active strategies rather than passive beta.
• AXS Investments: AXS Investments (formerly SP Funds) is a niche ETF sponsor focused on actively managed, thematic, and income-oriented funds targeting independent advisors. Like HAM, AXS is a smaller, multi-product sponsor competing on differentiated active strategies rather than scale.
• KraneShares: KraneShares is a thematic and actively managed ETF sponsor that already partners with HAM as the licensee of the Hedgeye Hedged Equity Index (KSPY). KraneShares operates a similar business model — proprietary indices and active ETF wrappers targeting advisor and institutional channels — and is therefore both a partner and a direct comparable for HAM's own ETF lineup.
• Alpha Architect: Alpha Architect is a quantitative asset manager that packages factor-based and systematic strategies into ETFs for advisor and self-directed investors. HAM's use of proprietary ML models for index-addition forecasting parallels Alpha Architect's quant-driven, factor-based product approach.
• Griffin Asset Management: Griffin Asset Management is listed as a partner on HAM's website and is an independent investment management firm offering active strategies to advisors and institutions. Griffin operates with a similar independent, advisor-channel-focused model and is a directly comparable peer.

Broad incumbents

• First Trust: First Trust is a major sponsor of actively managed ETFs spanning sector, thematic, income, and quantitative strategies. First Trust competes with HAM in advisor channels across several overlapping categories including actively managed equity and hedged-income strategies.
• Direxion: Direxion is a large established ETF sponsor with a broad lineup of leveraged, thematic, and active funds. Although Direxion operates at substantially greater scale, its active/thematic lineup (including long-short and sector strategies) competes in the same advisor channel as HAM.
• ProShares: ProShares is a large established ETF issuer with deep lineups in leveraged, thematic, and alternative-strategy funds. ProShares' long-short and hedged equity ETFs overlap directly with HAM's HELS and KSPY strategies, and the firm competes for similar advisor relationships.
• WisdomTree: WisdomTree is a large established ETF provider offering actively managed and thematic funds (including hedged equity and factor strategies). WisdomTree's hedged equity ETFs are direct analogues to HAM's KSPYUI-indexed KSPY, although WisdomTree operates at materially greater scale and distribution breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/HedgeyeAM
• LinkedInlinkedin.com/company/hedgeye-asset-management-llc
• Instagraminstagram.com/hedgeyeam

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hedgeye Asset Management