{"url":"https://etfiq.com/alternatives/long-short-equity/","section":"alternatives","title":"Long-short equity ETFs against the S&P 500 | ETFIQ","description":"12 long-short equity ETFs measured by how closely each moved with the S&P 500 and what each did in the weeks it fell, over the year to Nov 4, 2026.","as_of":"Nov 4, 2026","structured_data":[{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Long-short equity","item":"https://etfiq.com/alternatives/long-short-equity/"}]},{"@type":"WebPage","name":"Long-short equity ETFs against the S&P 500","description":"12 long-short equity ETFs measured by how closely each moved with the S&P 500 and what each did in the weeks it fell, over the year to Nov 4, 2026.","url":"https://etfiq.com/alternatives/long-short-equity/","dateModified":"2026-11-04","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":4615,"truncated":false,"content":"ETFIQ / Alternatives / Long-short equity \n \n Rebuilt every trading night. Data as of Nov 4, 2026 .\n Long-short equity ETFs, against the S&P 500\n Every strategy Hedged equity 26 Managed futures 23 Long-short equity 12 Volatility 9 Multi-strategy 8 Event driven 5 Market neutral 4 See how long-short equity funds move against the S&P 500. Owns stocks and sells others short, so part of its exposure to the stock market cancels out. 12 funds. Updated Nov 4, 2026.\n Browse by strategy\n Hedged equity 26 Managed futures 23 Long-short equity 12 Volatility 9 Multi-strategy 8 Event driven 5 Market neutral 4 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. Ticker Fund 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 Stock Diversification Score \n CBLS Clough Hedged Equity ETF Clough Long-short equity +0.59 $56m Jul 31, 2026 1.89% \u221212.7% \u22127.3% +2.3% +1.2% +50.4% +40.8% +0.97 150.0 \u22122.5 \n CLSE Convergence Long/Short Equity ETF Convergence Long-short equity +0.73 $900m Aug 31, 2026 1.52% \u22125.5% \u22124.7% +19.0% +23.3% +102.2% +121.4% +0.75 59.1 +18.4 \n CSM ProShares Large Cap Core Plus ProShares Long-short equity +0.98 $521m Nov 4, 2026 0.45% \u22120.1% \u22121.1% +11.2% +14.4% +83.6% +977.7% +0.94 90.7 +10.1 \n EHLS Even Herd Long Short ETF Even Herd Long-short equity +0.69 $61m Jun 30, 2026 3.35% \u22129.4% \u221210.0% +0.1% +1.3% not available +19.2% since Apr 2024 +0.91 123.5 \u22123.2 \n FFLS The Future Fund Long/Short ETF The Future Fund Long-short equity +0.65 $43m Aug 31, 2026 1.24% \u22120.4% \u22120.3% +1.1% \u22120.1% +36.0% +30.5% +0.61 65.7 \u22122.4 \n FTLS First Trust Long/Short Equity First Trust Long-short equity +0.83 $2.6bn Nov 3, 2026 1.38% \u22122.0% +1.0% +8.1% +8.5% +46.9% +183.1% +0.48 44.7 +4.1 \n HFEQ Unlimited HFEQ Equity Long/Short ETF Unlimited Long-short equity +0.86 $19m Aug 31, 2026 0.96% \u22122.2% \u22127.1% +10.1% +11.4% not available +26.4% since Jul 2025 +1.31 158.3 +5.8 \n 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% not available +47.4% since Dec 2023 +0.24 24.8 +20.8 \n ORR Militia Long/Short Equity ETF Militia Long-short equity +0.41 $355m Aug 31, 2026 not read by ETFIQ +1.2% \u22121.6% +13.2% +21.6% not available +49.6% since Jan 2025 +0.47 25.0 +16.7 \n\n Stock Diversification Score is the last column. 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). Ranked by it \u00b7 How it is computed \n Less than a year of prices\n 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.\n 3 long-short equity funds younger than a year, as of Nov 4, 2026. 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 \n HXE Mast HedgeIndex Adaptive Equities ETF Mast Investments Long-short equity not read by ETFIQ not available 0.99% \u22120.1% not available not available not available not available +4.3% since Aug 2026 Aug 21, 2026 +0.4% \n MEMA Man Active Emerging Markets Alternative ETF Man Group Long-short equity $13m Aug 31, 2026 0.85% \u221212.4% \u22127.0% +9.4% not available not available +12.6% since Dec 2025 Dec 17, 2025 +15.4% \n WTLS WisdomTree Efficient Long/Short U.S. Equity Fu WisdomTree Long-short equity $12m Jun 30, 2026 0.89% \u22120.7% \u22122.6% not available not available not available +22.6% since Jan 2026 Jan 22, 2026 +12.2% \n\n Where to next\n Rankings The vocabulary Method \n Cite this page. ETFIQ, Long-short equity ETFs against the S&P 500, data as of Nov 4, 2026. https://etfiq.com/alternatives/long-short-equity/ Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, Long-short equity ETFs against the S&P 500, data as of Nov 4, 2026. https://etfiq.com/alternatives/long-short-equity/ APA ETFIQ. (Nov 4, 2026). Long-short equity ETFs against the S&P 500. Retrieved from https://etfiq.com/alternatives/long-short-equity/ Markdown [Long-short equity ETFs against the S&P 500 (ETFIQ, Nov 4, 2026)](https://etfiq.com/alternatives/long-short-equity/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, Long-short equity ETFs against the S&P 500, data as of Nov 4, 2026. https://etfiq.com/alternatives/long-short-equity/"}