Overview
The 100 highest-beta stocks from the S&P 500. Amplifies market moves systematically. Heavy in semiconductors, tech, and growth stocks. Rises more in bull markets, falls harder in bear markets. Pure risk-on S&P 500 expression.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| NVDA | NVIDIA Corp. | 3.2% |
| AMD | Advanced Micro Dev. | 2.8% |
| COIN | Coinbase Global | 2.6% |
| MSTR | MicroStrategy | 2.4% |
| TSLA | Tesla Inc. | 2.4% |
| META | Meta Platforms | 2.2% |
| PLTR | Palantir Tech. | 2.2% |
| MRVL | Marvell Technology | 2.0% |
| ON | ON Semiconductor | 2.0% |
| SMCI | Super Micro Computer | 1.8% |
Fund Details
Investment Thesis
SPHB systematically selects the 100 most volatile stocks from the S&P 500, rebalancing quarterly to maintain maximum beta exposure. This creates a portfolio heavily concentrated in technology, semiconductors, and growth stocks that move with the greatest amplitude to market direction. In strong bull markets SPHB has historically delivered 1.5-2x the S&P 500 return; in bear markets it falls proportionally harder. For investors wanting a systematic, rules-based way to amplify US equity market exposure, SPHB is a transparent and cost-effective alternative to leveraged ETFs.
Who It's For
Risk-tolerant investors making a strong bull market call who want amplified US equity market exposure through fundamentals-based high-beta stock selection rather than leverage or derivatives. SPHB suits sophisticated investors using it alongside low-volatility funds to build a barbell equity portfolio, or to express tactical factor views on momentum and risk-on sentiment. Best used as a satellite position sized to reflect your overall risk tolerance.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $34.42 | -- |
| 2017 | $48.42 | +40.7% |
| 2018 | $38.42 | -20.6% |
| 2019 | $56.82 | +47.9% |
| 2020 | $62.42 | +9.9% |
| 2021 | $88.42 | +41.7% |
| 2022 | $54.42 | -38.5% |
| 2023 | $78.42 | +44.1% |
| 2024 | $82.42 | +5.1% |
| 2025 | $100.88 | +22.4% |
| Year | Yield |
|---|---|
| 2016 | 0.88% |
| 2017 | 0.72% |
| 2018 | 0.88% |
| 2019 | 0.72% |
| 2020 | 0.62% |
| 2021 | 0.52% |
| 2022 | 0.72% |
| 2023 | 0.62% |
| 2024 | 0.72% |
| 2025 | 0.88% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.4B | -- |
| 2017 | $0.6B | +50.0% |
| 2018 | $0.4B | -33.3% |
| 2019 | $0.7B | +75.0% |
| 2020 | $0.8B | +14.3% |
| 2021 | $1.2B | +50.0% |
| 2022 | $0.6B | -50.0% |
| 2023 | $0.8B | +33.3% |
| 2024 | $0.6B | -25.0% |
| 2025 | $0.65B | +8.3% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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