What this ETF is trying to do

This report looks at the DAY HAGAN SMART BUFFER ETF (ticker: DHSB). This is an exchange-traded fund (ETF) that trades on the NYSE.

What the numbers show

As of October 9, 2026, the current price of one share of DHSB is $27.80. An estimated price from roughly one year ago was $25.89.

To understand how the value has changed, we look at two different types of returns:

• Price Return: This measures only the change in the share price. Over the last year, the one-year price return was 7.37%. Year-to-date (YTD), the price return is 7.18%.

• Total Return: This includes the share price change plus any cash distributions paid out. The one-year total return was 8.70%. The YTD total return was 7.18%.

If you had invested $10,000 into this ETF at the estimated price from one year ago, your investment's share price alone would have grown to approximately $10,737 based on the 7.37% price return.

Top Holdings

The fund's holdings can change over time. As of October 4, 2026, the top holding was:

• STATE STREET® SPDR® S&P 500® ETF (SPY): 1.00%

Income and distribution explanation

Some investors look for ETFs that pay out cash. This is called a distribution. The distribution yield for DHSB is 1.16%. This number describes the cash distributions relative to the ETF's price.

It is important to know that these payments are "irregular," meaning they do not happen on a set schedule. Also, a distribution yield is not the same as total return. While distributions provide cash, they do not guarantee that your original investment will stay the same value.

NAV erosion explanation

"NAV erosion" refers to a decline in the Net Asset Value, which is the actual value of the assets held inside the ETF. If an ETF has high NAV erosion, it means the underlying value of its holdings is dropping.

For DHSB, the erosion-risk score is 100. The data shows "No price erosion detected," and the erosion severity is labeled as "good." There is no severe erosion-risk flag for this ETF.

Pros

• The ETF has shown positive price returns over the last year and year-to-date.

• The total return has been higher than the price return, meaning distributions added value.

• The erosion-risk score indicates no price erosion was detected.

Cons

• Distributions are irregular and less frequent rather than being paid on a regular schedule.

Beginner takeaway

When looking at DHSB, it is helpful to distinguish between price return (how much the share price moved) and total return (the price movement plus cash payments). While this ETF has shown positive returns and no detected price erosion, distributions are not paid out on a regular schedule.