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HBTCFortuna Hedged Bitcoin Fund

Get income1y track recordRanked #1,618 of 1,650 in this goal

Seeks long-term capital appreciation.

By Fortuna Funds, LLC · Launched 2025

Annual Cost

1.97%

#5,807 of 5,861 · expensive

Fund Size

$0.7M

#5,697 of 5,861 · small

Dividend YieldGoal

0.33%

Track Record

1 year

#4,159 of 5,861 · young

Performance

Total-return NAV · USD
Growth of $10,000
$6,364-36.4%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Cryptocurrency

Strategy

Option income

What it actually holds

By weight

Concentration

Top 6 holdings = 14.6% of fund✓ well diversified

First American Treasury Obliga
48.3%
N/A
2.5%
N/A
1.1%
N/A
0.1%
N/A
-1.9%
N/A
-35.4%

Asset allocation

Cash
54.2%
Other
50.3%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
27.8%High

Year-on-year price swings

Max drawdown
-40.5%Severe

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks long-term capital appreciation.
Strategy
Actively managed ETF that invests primarily in options on bitcoin-related securities to achieve long-term capital appreciation. The Fund provides exposure to bitcoin through options on bitcoin ETPs and related equity securities, while maintaining a focus on risk management.
Inception date
March 18, 2025
Fund family
Fortuna Funds, LLC

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04