Unlimited HFGM Global Macro ETF
Unlimited HFGM Global Macro ETF (NYSE: HFGM) is an exchange-traded fund listed on the New York Stock Exchange, trading at $31.61 (about ₹3,037 a unit) as of 28 Sep 2026, 3:59 PM ET. It has an expense ratio of 1%. Indian residents can buy HFGM through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$31.56
Today's high
$31.74
52 week low
$28.79
52 week high
$37.06
HFGM opened at $31.56, closed previously at $32.03, and has traded between $28.79 and $37.06 over the past 52 weeks.
About
The HFGM ETF is an actively managed fund designed to construct a portfolio mirroring the attributes of the hedge fund industry's Global Macro sector, though with a substantially larger notional footprint. Its primary objective is to generate returns by navigating global economic shifts. To surpass industry performance, the fund deliberately targets twice the volatility. It initially builds its base from a broad range of passively managed ETFs across various asset classes. To achieve its heightened volatility target, HFGM then strategically employs both long and short positions in a focused selection of 10-30 ETFs and futures contracts. A proprietary algorithm is utilized to pinpoint optimal positions, analyzing historical return and volatility patterns within the Global Macro sector, with portfolio managers further refining inputs based on return factors that best capture recent market movements. The fund makes frequent adjustments to its portfolio, resulting in significant trading activity. Up to 25% of its investments may be in futures contracts and swap agreements, facilitated through a wholly owned Cayman Islands subsidiary. It is important to note that this fund does not directly invest in hedge fund strategies or specific hedge fund positions.
Key statistics
Expense ratio
1%
Assets (AUM)
$153.6M
Holdings
—
NAV
$31.61
Avg. volume
—
1-year price change
+0.16%
5-year price change
—
Price change excludes dividends.
Top 10 holdings
These 10 are 152.5% of the fund.
How to buy HFGM from India
Indian residents can buy HFGM units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search HFGM and buy
Find the fund by its ticker, HFGM, on the New York Stock Exchange, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in HFGM from India
Trading and taxes when buying HFGM from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- 12.5% or slab rateGains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation. Gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate.Capital gains explained
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India. The US withholds tax on dividends paid to Indian residents at the treaty rate; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the HFGM price today?
Unlimited HFGM Global Macro ETF (HFGM) last traded at $31.61 on the New York Stock Exchange, as of 28 Sep 2026, 3:59 PM ET. That is ₹3,037 a unit at the 28 Sep 2026 USD/INR rate.
When does HFGM trade, in Indian time?
The New York Stock Exchange trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is HFGM, and what does it cost to hold?
Unlimited HFGM Global Macro ETF manages about $153.6M. Its expense ratio is 1% a year, deducted inside the fund. It launched in 2025.
What are HFGM's largest holdings?
The top three are iBoxx iSh $HY Fut Dec26 (39.9%), First American Government Obligations Fund 12/01/2031 (38.3%) and AUDUSD Crncy Fut Dec26 (19.3%). HFGM's 10 largest positions make up 152.5% of the fund.
Does HFGM pay dividends?
Yes. HFGM is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate. The US withholds 25% tax on dividends before they reach you; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit when you file in India.
How are gains on HFGM taxed in India?
Units held for more than 24 months are long-term and taxed at 12.5% without indexation; units held for 24 months or less are taxed at your income-tax slab rate. The gain is worked out in rupees, so the currency move counts.
Can I buy fractional units of HFGM?
Yes. You can buy HFGM by amount rather than by whole unit, and there is no minimum trade size.
How has HFGM performed?
HFGM's price is up 0.2% over the past year. These figures are price change only and exclude dividends; past performance does not guarantee future returns.