Are hedge funds really worth the fees or is there a smarter way to access their returns? In this episode of In the Money with Amber Kanwar, Amber sits down with Bob Elliott, Co-Founder, CEO & CIO of Unlimited and formerly a member of the Investment Committee at Bridgewater Associates, where he led Ray Dalio’s investment research team. Few people understand hedge funds and macro the way Bob does — and he brings that depth straight into this conversation.
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- Replicates the aggregate performance of the entire hedge fund industry by combining replications of the six major hedge fund styles
- Designed as a “hedge fund index” – targets cash + a few hundred basis points with bond-like risk and significantly lower volatility/drawdowns than equities
- Ideal diversifier for conservative investors or as a lower-volatility complement to a traditional 60/40 portfolio
2. Unlimited Global Macro ETF (Ticker: HFGM)
- Actively replicates top global macro hedge fund positioning but runs at 2x (equity-like) risk instead of traditional bond-like risk using futures contracts
- Flexible long/short exposure across equities, bonds, currencies, and commodities – thrives when big macro themes drive markets (up or down)
- Built for all-weather alpha: strong performance in both the 2022 drawdown and the 2024–2025 rally; perfect for investors who want diversification without sacrificing return potential
3. Unlimited Equity Long/Short ETF (Ticker: HFEQ)
- Replicates equity long/short hedge fund managers who maintain net long equity exposure while adding alpha through stock selection
- Runs at 2x (equity-like) risk via futures for greater cash efficiency versus traditional hedge funds
- Direct competitor to traditional active equity managers – historically delivers superior risk-adjusted returns versus mutual fund and active ETF peers
4. Unlimited Managed Futures ETF (Ticker: HFMF)
- Pure trend-following strategy that goes long or short based on sustained price momentum across asset classes
- Historically shines during prolonged equity or bond bear markets (captures extended trends on the short side)
- Offered at 2x target return for improved cash efficiency – makes it easier to stay invested through flat/choppy periods until the big defensive payoff arrives
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DISCLAIMERS: The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice. The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.
