Rebuilt every trading night. Data as of Nov 4, 2026.
Long-short equity ETFs, against the S&P 500
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See how long-short equity funds move against the S&P 500. 12 funds. Updated Nov 4, 2026.
IQ · Nov 4, 2026More about this list
Owns stocks and sells others short, so part of its exposure to the stock market cancels out.
9 long-short equity funds with a full year of weekly prices to Nov 4, 2026, highest Stock Diversification Score first. Source: weekly closes from Tiingo, ETFIQ calculation.
Points (pts) are percentage points.
| Ticker | Fund | Stock Diversification Score ↓ | Issuer | Strategy | Correlation | Net assets | Net assets as of | Fee | Total return 1M | Total return 3M | Total return YTD | Total return 1Y | Total return 3Y | Total return since launch | Beta | Down-week capture, % | Against T-bills, pts |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CBLS | Clough Hedged Equity ETF | Clough | Long-short equity | +0.59 | $56m | Jul 31, 2026 | 1.89% | −12.7% | −7.3% | +2.3% | +1.2% | +50.4% | +40.8% | +0.97 | 150.0 | −2.5 | |
| CLSE | Convergence Long/Short Equity ETF | Convergence | Long-short equity | +0.73 | $900m | Aug 31, 2026 | 1.52% | −5.5% | −4.7% | +19.0% | +23.3% | +102.2% | +121.4% | +0.75 | 59.1 | +18.4 | |
| CSM | ProShares Large Cap Core Plus | ProShares | Long-short equity | +0.98 | $521m | Nov 4, 2026 | 0.45% | −0.1% | −1.1% | +11.2% | +14.4% | +83.6% | +977.7% | +0.94 | 90.7 | +10.1 | |
| EHLS | Even Herd Long Short ETF | Even Herd | Long-short equity | +0.69 | $61m | Jun 30, 2026 | 3.35% | −9.4% | −10.0% | +0.1% | +1.3% | – | +19.2% since Apr 2024 | +0.91 | 123.5 | −3.2 | |
| FFLS | The Future Fund Long/Short ETF | The Future Fund | Long-short equity | +0.65 | $43m | Aug 31, 2026 | 1.24% | −0.4% | −0.3% | +1.1% | −0.1% | +36.0% | +30.5% | +0.61 | 65.7 | −2.4 | |
| FTLS | First Trust Long/Short Equity | First Trust | Long-short equity | +0.83 | $2.6bn | Nov 3, 2026 | 1.38% | −2.0% | +1.0% | +8.1% | +8.5% | +46.9% | +183.1% | +0.48 | 44.7 | +4.1 | |
| HFEQ | Unlimited HFEQ Equity Long/Short ETF | Unlimited | Long-short equity | +0.86 | $19m | Aug 31, 2026 | 0.96% | −2.2% | −7.1% | +10.1% | +11.4% | – | +26.4% since Jul 2025 | +1.31 | 158.3 | +5.8 | |
| LSEQ | Harbor Long-Short Equity ETF | Harbor | Long-short equity | +0.18 | $17m | Nov 3, 2026 | 2.28% | +2.6% | +8.0% | +27.0% | +26.5% | – | +47.4% since Dec 2023 | +0.24 | 24.8 | +20.8 | |
| ORR | Militia Long/Short Equity ETF | Militia | Long-short equity | +0.41 | $355m | Aug 31, 2026 | not read by ETFIQ | +1.2% | −1.6% | +13.2% | +21.6% | – | +49.6% since Jan 2025 | +0.47 | 25.0 | +16.7 |
More about this table
It ranks each fund within its own set: 22 equity hedged alternatives ETFs with a full year (4.5 to 95.5) and 17 systematic trend alternatives ETFs with a full year (2.9 to 94.2).
Less than a year of prices
Correlation, beta and down-week capture need a year of weekly returns, so these funds are listed with what they have returned since they first traded, against the S&P 500 over the same days.
| Ticker | Fund | Issuer | Strategy | Net assets | Net assets as of | Fee | Total return 1M | Total return 3M | Total return YTD | Total return 1Y | Total return 3Y | Total return since launch | First traded | S&P 500 since |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HXE | Mast HedgeIndex Adaptive Equities ETF | Mast Investments | Long-short equity | not read by ETFIQ | – | 0.99% | −0.1% | – | – | – | – | +4.3% since Aug 2026 | Aug 21, 2026 | +0.4% |
| MEMA | Man Active Emerging Markets Alternative ETF | Man Group | Long-short equity | $13m | Aug 31, 2026 | 0.85% | −12.4% | −7.0% | +9.4% | – | – | +12.6% since Dec 2025 | Dec 17, 2025 | +15.4% |
| WTLS | WisdomTree Efficient Long/Short U.S. Equity Fu | WisdomTree | Long-short equity | $12m | Jun 30, 2026 | 0.89% | −0.7% | −2.6% | – | – | – | +22.6% since Jan 2026 | Jan 22, 2026 | +12.2% |
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ETFIQ, Long-short equity ETFs against the S&P 500, data as of Nov 4, 2026. https://etfiq.com/alternatives/long-short-equity/
ETFIQ. (Nov 4, 2026). Long-short equity ETFs against the S&P 500. Retrieved from https://etfiq.com/alternatives/long-short-equity/
[Long-short equity ETFs against the S&P 500 (ETFIQ, Nov 4, 2026)](https://etfiq.com/alternatives/long-short-equity/)
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Every number dated. Not investment advice.