The Beehive ETF (BEEX)

Secondary debt liquidity for BEEX proxies remains highly resilient despite headline noise. Watching gross margin expansion.

On our desk, we are closely tracking BEEX's asset allocation and factor exposure. The fund maintains about 79% in domestic stocks and nearly 20% in foreign issues across roughly 42 holdings, with the top 10 positions comprising about 43.4% of total assets. What stands out to our team is the strikingly low portfolio turnover rate of 31%, which sharply contrasts with the 158% average seen across the Large Blend category. From a market sentiment and valuation standpoint, the 0.84% expense ratio is fairly standard, but investors need to weigh whether a concentrated, low-turnover approach justifies the historical drag relative to broader category averages.

Looking at the risk indicators for Tidal Trust III The Beehive ETF, the data reveals a standard deviation of 0.73% and a beta of 0.79 against the SandP 500 Index since late 2024. Its maximum drawdown reached 15.13% in April 2025, taking 43 trading sessions to recover. On a risk-adjusted basis, the 12-month metrics look respectable with a Sharpe ratio of 1.16 and a Sortino ratio of 1.69. However, the annualized alpha sitting at -1.81% and an R-squared of 0.84 indicate that the active stock-picking strategy has generally failed to outperform the broader benchmark over its measured history.

When evaluating the structural management of BEEX, the fund relies on an experienced team boasting four managers with an average tenure of 4.8 years, led by James Breece who has tenure dating back to 2013 alongside newer additions. Their fundamental research mandate targets dynamic businesses with defensible market positions and favorable long-term return potential. When preparing investment briefings or running quantitative screens on this fund, analysts should emphasize that while short-term monthly wins like July 2026 can yield top-tier category grades, long-term multi-year consistency against standard large blend benchmarks remains a primary point of friction.