At a glance
HNDL charges 0.94% a year, above the 0.86% average of the 7 funds most like it (the 6th cheapest of 8). It has $630.1M in assets, the 8th largest of that group; it paid 7.07% of its price in distributions over the past 12 months, monthly. Over the past year it returned +4.9% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +14.1% a year. At its worst it fell 20.0% in the 2020 crash (S&P 500: 33.7%) and 23.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 21 months after the lows. Its ten largest positions make up 77.0% of the fund, out of 21 in all.
The short version
Strategy Shares Nasdaq 7HANDL Index ETF (HNDL) is a fund of funds. It tracks the Nasdaq 7HANDL Index, a mix of other ETFs split evenly between a core stock-and-bond portfolio and 12 income-focused categories. It adds modest leverage through a swap. Its goal, which is not guaranteed, is to earn enough to support a 7% annual payout, paid monthly. The trade-offs are a 0.94% expense ratio and a 23.7% drop in 2022.
Price history
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HNDL +4.9% 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 | |
|---|---|---|---|---|---|---|
| HNDL official prospectus, to Dec 31, 2025 | — | +10.62% | — | +4.19% | — | +5.56% |
| Nasdaq 7HANDLTM Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +11.90% | — | +5.54% | — | +6.98% |
| Bloomberg US Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) index, same period | — | +7.30% | — | -0.36% | — | +1.80% |
| HNDL price data to Oct 27, 2026 | +6.2% | +4.9% | +14.1% | +4.1% | — | +5.5% |
- Over the year to Oct 27, 2026, HNDL returned +4.9%, 8th of 8 among similar funds.
- Its 5-year annualized return was +4.1%.
- In the 2020 COVID crash it fell 20% and regained its old high 3.4 months after the low.
- Its worst full calendar year was 2022 (-18.6%); its best was 2019 (+15.7%).
- The deepest fall in its price history was 23.7% (Dec 30, 2021 to Oct 14, 2022), recovered by Jul 16, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.2% | — |
| 2025 | +10.7% | +10.62% |
| 2024 | +10.6% | +10.47% |
| 2023 | +13.3% | +13.07% |
| 2022 | -18.6% | -18.71% |
| 2021 | +9.1% | +9.32% |
| 2020 | +12.1% | +12.46% |
| 2019 | +15.7% | +16.98% |
| 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 | Lost 19.8% over that stretch · deepest drop along the way 20%, back to its old high 3.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 23.5% over that stretch · deepest drop along the way 23.5%, back to its old high 21.1 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.3000 | |
| 2025 | $1.5100 | +1.3% |
| 2024 | $1.4900 | +5.7% |
| 2023 | $1.4100 | -15.3% |
| 2022 | $1.6638 | -7.1% |
| 2021 | $1.7911 | +12.6% |
| 2020 | $1.5900 | +24.2% |
| 2019 | $1.2800 |
What's inside
As of Jul 31, 2026, the fund held 21 securities; the ten largest made up 77.03% of assets.
| Fund held | Weight | |
|---|---|---|
| SCHWAB U S AGGREGATE BOND ETF Other | 11.33% | |
| VANGUARD TOTAL BOND MARKET ETF Other | 11.32% | |
| ISHARES CORE U S AGGREGATE BOND ETF Other | 11.32% | |
| GLOBAL X MLP ENERGY INFRASTRUCTURE ETF Other | 7.72% | |
| WISDOMTREE US EFFICIENT CORE F Other | 6.87% | |
| INVESCO NASDAQ 100 ETF Other | 6.81% | |
| VANGUARD DIVIDEND APPRECIATION ETF Other | 6.39% | |
| STATE STREET UTILITIES SELECT SECTOR SPDR ETF Other | 5.57% | |
| SCHWAB U S REIT ETF Other | 5.19% | |
| JPMORGAN EQUITY PREMIUM INCOME ETF Other | 4.50% | |
| GLOBAL X US PREFERRED ETF Other | 3.76% | |
| VANGUARD INTERMEDIATE TERM CORPORATE BOND ETF Other | 3.11% | |
| DIMENSIONAL CORE FIXED INCOME ETF Other | 2.48% | |
| SPDR SERIES TRUST PORTFOL Other | 2.47% | |
| VANGUARD S P 500 ETF Other | 2.45% |
By country
United States 98.74%By asset type
Other 97.34%Bonds and notes 1.4%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $6.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.16%, +0.36%, -1.17%.
How it works
HNDL tracks the Nasdaq 7HANDL Index, which is expected to hold 19 other ETFs. That makes HNDL a "fund of funds." The index is split evenly between a Core Portfolio and an Explore Portfolio. It aims to earn enough, after expenses, to support a 7% annual payout. That is a goal, not a guarantee.
The Core puts 70% into broad, high-quality U.S. bond ETFs and 30% into large-company stock ETFs. It picks the cheapest qualifying funds by rule. As of July 31, 2026, its three bond funds, from Schwab, Vanguard and iShares, were about 11.3% of assets each. The Core is rebalanced monthly and refreshed each January. The Explore half uses a momentum-tilted model, which favors recent winners. It spreads money across 12 income categories, including energy partnerships (MLPs), real estate trusts (REITs), utilities and junk bonds. Each category holds one low-cost ETF, and less than 16% is expected in any one.
The index also adds leverage (exposure beyond the money invested) worth 30% of the base portfolio, or 23% of the combined total, net of its estimated cost. HNDL gets this through a total return swap. That is a contract in which a financial firm pays the fund the return of the Nasdaq HANDL Base Index, the unlevered ETF basket. Leverage magnifies losses as well as gains, and the firm could default.
What it really costs
- HNDL charges 0.94% a year, versus an average of 0.86% for the similar funds below (6th of 8, cheapest first).
- Of that, 0.6% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $96 in the first year and $1,155 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| HNDL | $96 | $300 | $520 | $1,155 |
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
HNDL is built to support a 7% annual distribution paid monthly, with a mix of stocks, bonds and income assets behind it.
HNDL pays monthly. Its trailing 12-month yield was 7.07% as of October 27, 2026. That income came with real swings. The fund fell 20% in the 2020 COVID crash and recovered in about 3.4 months. In 2022, stocks and bonds fell together. The fund dropped 23.7% from its December 2021 peak and took about 21 months to recover, until July 2024. Its 2022 return was -18.71%. It launched in 2018, so it has no 2008 record. A retiree who sold shares in a year like 2022 would have locked in losses. The fund's 4.19% average yearly return over the five years to December 31, 2025, was below its 7% payout goal, so part of the payout came out of share value. It costs 0.94% a year. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Income-focused investors who want monthly payouts from one fund that holds about 20 ETFs, including bonds, MLPs, REITs, utilities and preferred stock.
- People who prefer a rules-based mix that picks the cheapest qualifying ETF in each category over choosing a dozen income funds themselves.
- Investors comfortable with modest leverage (23% of the portfolio, through a swap) in exchange for more income than an unleveraged balanced fund.
Look elsewhere if
- Cost-sensitive investors: the 0.94% expense ratio, or $1,155 over 10 years in the SEC's $10,000 example, is high next to the low-cost ETFs it holds.
- Retirees who need stable principal: it lost 23.7% in 2022, and its five-year return through 2025 was below its 7% payout goal.
- Anyone uneasy with derivatives, swap counterparty risk or junk bonds, which can make up to 9% of the index.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| HNDL this fund | 0.94% | $630.1M | +4.9% | +14.1% |
| 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 HNDL pay monthly dividends?
Yes. HNDL makes distributions every month. Over the 12 months to October 27, 2026, it paid about $1.56 per share, a trailing yield of 7.07%. The index aims for total returns high enough to support a 7% annual distribution rate. That target is a goal, not a promise, and the monthly amount can change. Because the fund holds other ETFs, its payouts come from the income and gains of those underlying funds.
Is HNDL good for retirement income?
HNDL may suit retirees looking for monthly income from a mix of assets, but it carries real risk. It fell 23.7% from late 2021 to October 2022 and took about 21 months to recover. Over the five years to December 31, 2025, it returned 4.19% a year on average, below its 7% payout goal, so share value made up the gap. It also costs 0.94% a year, or $96 in the first year on $10,000 under the SEC's standard example.
Does HNDL use leverage?
Yes, but only a modest amount. The Nasdaq 7HANDL Index assumes leverage equal to 23% of the total portfolio, roughly 30% borrowed on top of each 100% invested. The fund gets this through a total return swap on the unleveraged Nasdaq HANDL Base Index. That is far less than a 2x or 3x trading ETF. It still magnifies losses in down markets and adds the risk that the bank on the other side of the swap fails to pay.
Is HNDL's 7% distribution guaranteed?
No. The prospectus describes 7% as a goal, "but not the guarantee." The index is expected to rise and fall with the broad U.S. markets. When returns fall short of the payout, the fund's share value can shrink. As of December 31, 2025, its average annual return since its 2018 launch was 5.56%, and its five-year average was 4.19%. Both are below 7%. Its 2022 calendar-year return was -18.71%.
What ETFs does HNDL hold?
As of July 31, 2026, HNDL held 21 funds, and its 10 largest made up about 77% of assets. The biggest were the Schwab U.S. Aggregate Bond, Vanguard Total Bond Market and iShares Core U.S. Aggregate Bond ETFs at about 11.3% each. Next came the Global X MLP Energy Infrastructure ETF at 7.7%, WisdomTree U.S. Efficient Core at 6.9% and Invesco Nasdaq 100 at 6.8%. Smaller positions included utilities, REIT, dividend, covered-call and preferred-stock ETFs.