At a glance
HIDE charges 0.29% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $140.4M in assets, the 8th largest of that group; it paid 2.95% of its price in distributions over the past 12 months, annual. Over the past year it returned +7.9% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +4.2% a year.
The short version
Alpha Architect High Inflation & Deflation ETF (HIDE) is an actively managed fund of funds. It owns other ETFs that cover intermediate-term US Treasury bonds, real estate and commodities. A trend-following model, updated at least monthly, moves money among these three or into cash, with the aim of protecting against both high inflation and deflation. The fund charges 0.29% a year. Its deepest drop since its November 2022 launch was 5.1%.
Price history
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HIDE +7.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| HIDE official prospectus, to Dec 31, 2025 | — | +5.15% | — | — | — | +2.06% |
| Solactive US Aggregate Bond Index (reflects no deduction for fees or expenses) index, same period | — | +6.75% | — | — | — | +4.13% |
| HIDE price data to Oct 27, 2026 | +7.6% | +7.9% | +4.2% | — | — | +3.6% |
- Over the year to Oct 27, 2026, HIDE returned +7.9%, 8th of 8 among similar funds.
- Its worst full calendar year was 2024 (-0.8%); its best was 2025 (+5.3%).
- The deepest fall in its price history was 5.1% (Sep 16, 2024 to Apr 8, 2025), recovered by Sep 15, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +7.6% | — |
| 2025 | +5.3% | +5.15% |
| 2024 | -0.8% | -0.94% |
| 2023 | +2.5% | +2.65% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.7200 | +12.5% |
| 2024 | $0.6400 | -28.9% |
| 2023 | $0.9000 |
What's inside
As of Jun 30, 2026, the fund held 3 securities; the ten largest made up 99.57% of assets.
| Fund held | Weight | |
|---|---|---|
| Schwab Intermediate-Term U.S. Treasury ETF | 50.27% | |
| Vanguard Real Estate ETF | 26.43% | |
| abrdn Bloomberg All Commodity Strategy K-1 Free ETF | 22.87% |
By country
United States 99.57%By asset type
Stocks 99.57%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $45.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +2.06%, -0.99%, -1.60%.
How it works
Alpha Architect, LLC, the fund's sub-adviser, runs HIDE with a quantitative, rules-based model. The model uses past prices to judge whether each of three asset classes is trending up or down: intermediate-term US Treasury bonds, real estate and commodities. The prospectus gives two example signals. One is a moving average. The other is time-series momentum, which asks whether an asset has gained or lost over a past period. The model is updated at least monthly. The managers can depart from it in extreme markets.
When all three asset classes show a "buy" signal, the targets are 50% Treasuries, 25% real estate and 25% commodities. Real estate includes REITs (real estate investment trusts, which are companies that own property). If an asset's trend turns negative, the fund cuts or drops it. The money moves to the other assets or to cash, such as money market funds and Treasury bills. At times the fund could be 100% cash. As of June 30, 2026, it held the full mix: Schwab Intermediate-Term U.S. Treasury ETF (SCHR) at 50.27%, Vanguard Real Estate ETF (VNQ) at 26.43% and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) at 22.87%.
HIDE is a fund of funds, so it carries the risks of the ETFs it owns. Its commodity exposure may include derivatives, which can magnify losses. Signals can change often. Portfolio turnover was 171%, which means the fund traded more than the value of its whole portfolio in a year.
What it really costs
- HIDE charges 0.29% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
- The fee includes a 0.05% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $30 in the first year and $426 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| HIDE | $30 | $104 | $186 | $426 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
The fund is built to shift among Treasuries, real estate, commodities and cash so it can hold up in either high inflation or deflation, though no major crisis has tested it.
HIDE has moved very little with stocks. Its one-year beta, a measure of how closely it follows the stock market, was 0.01 as of October 27, 2026. But the fund launched in November 2022, after the 2008, 2020 and 2022 downturns, so a major crash has never tested its model. Its worst calendar year was 2024, at -0.94%. Its deepest drop, 5.1%, ran from September 16, 2024 to April 8, 2025. It was back to its earlier high by September 15, 2025. An investor who had to sell during that stretch would have taken a small loss, not a large one.
The fund pays income once a year. Its trailing 12-month yield was 2.95% as of October 27, 2026. In the SEC's standard example, $10,000 invested costs about $30 in fees over one year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want one fund that moves among Treasuries, real estate and commodities by set rules, instead of rebalancing those pieces themselves.
- Investors who want a low-volatility diversifier. HIDE's three-year volatility was 4.7% as of October 27, 2026, and its deepest drop was 5.1%.
- Cost-conscious investors who accept a 0.29% expense ratio for an actively managed, multi-asset, trend-following approach.
Look elsewhere if
- Retirees who want steady monthly or quarterly income. HIDE pays once a year, with a 2.95% trailing yield as of October 27, 2026.
- Investors who want a long record. HIDE returned 2.06% a year from launch through December 31, 2025, behind its benchmark bond index's 4.13%.
- Anyone uncomfortable with a model that can shift holdings monthly, with 171% turnover and the possibility of holding 100% cash.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| HIDE this fund | 0.29% | $140.4M | +7.9% | +4.2% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
Does HIDE pay dividends?
Yes, but only once a year. HIDE passes along income from the Treasury, real estate and commodity ETFs it owns. Over the 12 months to October 27, 2026, it paid $0.72 per share, a trailing yield of 2.95%. Because the payment comes once a year, retirees who rely on monthly or quarterly income would need cash reserves or other holdings to cover the months in between.
What does HIDE hold?
HIDE owns three ETFs. As of June 30, 2026, Schwab Intermediate-Term U.S. Treasury ETF (SCHR) made up 50.27% of assets, Vanguard Real Estate ETF (VNQ) 26.43% and abrdn Bloomberg All Commodity Strategy K-1 Free ETF (BCI) 22.87%, with 0.44% in cash. That is close to the fund's target mix when all three asset classes are trending up. The mix can change whenever the monthly model's signals shift.
Is HIDE a good inflation hedge?
It is built to be one, but its record is short. HIDE generally adds commodities and sometimes real estate when inflation looks high. It adds Treasuries when deflation looks likely. It launched in November 2022, after most of that year's inflation shock, so that period isn't in its record. From launch through December 31, 2025, it returned 2.06% a year. Its benchmark in the prospectus, the Solactive US Aggregate Bond Index, returned 4.13% a year.
Is HIDE better than buying SCHR, VNQ and BCI myself?
It depends on whether the trend model adds value. Owning the three ETFs directly gives a fixed mix that the investor rebalances by hand. HIDE adds a model, updated at least monthly, that can cut any asset with a negative trend and move the money into cash. It charges a 0.29% expense ratio for this. Its 171% turnover happens inside the fund, not in the investor's own account. Whether the switching helps will depend on future markets.
What is HIDE's expense ratio?
HIDE's expense ratio is 0.29%, according to its prospectus filed January 28, 2026. The prospectus also lists a 0.05% fee waiver. The SEC's standard example assumes $10,000 invested with a 5% annual return. Under it, costs would total about $30 after one year, $104 after three, $186 after five and $426 after ten. The fund is small, with net assets of about $140.4 million as of June 30, 2026.